▫️Circle reports revenue growth and USDC expansion
▪️Circle, the issuer of the USDC stablecoin, reported $770 million in revenue for the fourth quarter, marking a 77% year-over-year increase.
▪️The circulating supply of USDC reached $75 billion, reflecting a 72% growth. The company stated its intention to maintain an average annual issuance growth rate of around 40%, underscoring its strategy to further scale its presence in the digital asset market.
▪️Circle, the issuer of the USDC stablecoin, reported $770 million in revenue for the fourth quarter, marking a 77% year-over-year increase.
▪️The circulating supply of USDC reached $75 billion, reflecting a 72% growth. The company stated its intention to maintain an average annual issuance growth rate of around 40%, underscoring its strategy to further scale its presence in the digital asset market.
▫️On-Chain activity declines as correction scenarios emerge
▪️On-chain activity within the Bitcoin network has been steadily declining for six consecutive months, according to analytical data providers. While analysts maintain cautious optimism regarding current entry levels, some consider the possibility of a correction extending toward the $50,000 level.
▪️Users on prediction platforms appear to share this cautious outlook, concentrating their bets on downside scenarios targeting $55,000 or even $50,000. The market continues to operate in a phase of elevated uncertainty.
▪️On-chain activity within the Bitcoin network has been steadily declining for six consecutive months, according to analytical data providers. While analysts maintain cautious optimism regarding current entry levels, some consider the possibility of a correction extending toward the $50,000 level.
▪️Users on prediction platforms appear to share this cautious outlook, concentrating their bets on downside scenarios targeting $55,000 or even $50,000. The market continues to operate in a phase of elevated uncertainty.
▫️ Increase in solo mining success in the bitcoin network
▪️Over the past year, the number of solo-mined Bitcoin blocks has increased by 17%. On average, 21 independent miners successfully mined a block approximately once every 17.2 days, collectively earning 66.16 BTC.
▪️In a notable recent case, one miner discovered a block without using personal hardware. By renting 1 PH/s of hash power for just $75, the miner successfully secured the block reward, highlighting the probabilistic nature of mining outcomes.
▪️Over the past year, the number of solo-mined Bitcoin blocks has increased by 17%. On average, 21 independent miners successfully mined a block approximately once every 17.2 days, collectively earning 66.16 BTC.
▪️In a notable recent case, one miner discovered a block without using personal hardware. By renting 1 PH/s of hash power for just $75, the miner successfully secured the block reward, highlighting the probabilistic nature of mining outcomes.
▫️Bitcoin may drop to $46,000–54,000
▪️Analyst Willy Woo warned of a possible correction in Bitcoin, suggesting that the leading cryptocurrency could fall into the $46,000 to $54,000 range. According to him, current market conditions point to the likelihood of such a movement.
▪️The $54,000 level aligns with Bitcoin’s realized price, which continues to decline during the correction. Meanwhile, the $46,000 mark corresponds to Woo’s CVDD indicator, which tracks the behavior of long-term investors and accounts for market age during bearish phases.
▪️Analyst Willy Woo warned of a possible correction in Bitcoin, suggesting that the leading cryptocurrency could fall into the $46,000 to $54,000 range. According to him, current market conditions point to the likelihood of such a movement.
▪️The $54,000 level aligns with Bitcoin’s realized price, which continues to decline during the correction. Meanwhile, the $46,000 mark corresponds to Woo’s CVDD indicator, which tracks the behavior of long-term investors and accounts for market age during bearish phases.
▫️Bittensor ecosystem shows rapid growth
▪️Over the past 30 days, the native token of the Bittensor ecosystem (TAO) has surged by 75%, pushing its market capitalization above $3 billion. At the same time, tokens of various subnetworks have also recorded strong gains: OMEGA Labs (SN24) rose by 422% over the month, Templar (SN3) increased by 315%, Level 114 (SN114) by 217%, and BitQuant (SN15) by 193%.
▪️Bittensor operates as a decentralized network that creates markets for artificial intelligence. It is divided into specialized subnetworks designed to handle different AI-related tasks, ranging from training language models to running computational infrastructure and cybersecurity analysis. The ecosystem currently includes 128 active subnets, each with its own token whose value is directly tied to the amount of TAO locked in the protocol. Recently, the network has been rapidly expanding, highlighted by the launch of the Covenant-72B language model in the Templar subnet, trained on 1.1 trillion tokens.
▪️Over the past 30 days, the native token of the Bittensor ecosystem (TAO) has surged by 75%, pushing its market capitalization above $3 billion. At the same time, tokens of various subnetworks have also recorded strong gains: OMEGA Labs (SN24) rose by 422% over the month, Templar (SN3) increased by 315%, Level 114 (SN114) by 217%, and BitQuant (SN15) by 193%.
▪️Bittensor operates as a decentralized network that creates markets for artificial intelligence. It is divided into specialized subnetworks designed to handle different AI-related tasks, ranging from training language models to running computational infrastructure and cybersecurity analysis. The ecosystem currently includes 128 active subnets, each with its own token whose value is directly tied to the amount of TAO locked in the protocol. Recently, the network has been rapidly expanding, highlighted by the launch of the Covenant-72B language model in the Templar subnet, trained on 1.1 trillion tokens.
▫️Bitcoin may retest the $58,000 level
▪️It would not be surprising if Bitcoin revisits the $58,000 mark, as this level represents the 200-week moving average, according to MN Capital founder Michaël van de Poppe. He noted that in every market cycle, the price tends to return to this level and often holds it, unless an extreme event similar to the FTX collapse pushes the market significantly lower.
▪️According to the analyst, the leading cryptocurrency is more or less in the final stage of the bear market, although short-term prospects remain concerning. He pointed out that a chart pattern is currently forming that resembles previous consolidation phases, which could signal continued uncertainty in the near term.
▪️It would not be surprising if Bitcoin revisits the $58,000 mark, as this level represents the 200-week moving average, according to MN Capital founder Michaël van de Poppe. He noted that in every market cycle, the price tends to return to this level and often holds it, unless an extreme event similar to the FTX collapse pushes the market significantly lower.
▪️According to the analyst, the leading cryptocurrency is more or less in the final stage of the bear market, although short-term prospects remain concerning. He pointed out that a chart pattern is currently forming that resembles previous consolidation phases, which could signal continued uncertainty in the near term.
▫️Bitcoin ETFs recover part of losses
▪️Since the end of February, spot Bitcoin ETFs have regained nearly $3 billion from a massive $9 billion outflow that followed the market crash on October 11. This partial recovery suggests that investor interest is gradually returning after a period of strong selling pressure.
▪️At the same time, the average purchase price of Bitcoin through these exchange-traded products exceeds $82,000, which is significantly higher than the current market price. This indicates that a large portion of investors remains at a loss, highlighting ongoing pressure and uncertainty in the market.
▪️Since the end of February, spot Bitcoin ETFs have regained nearly $3 billion from a massive $9 billion outflow that followed the market crash on October 11. This partial recovery suggests that investor interest is gradually returning after a period of strong selling pressure.
▪️At the same time, the average purchase price of Bitcoin through these exchange-traded products exceeds $82,000, which is significantly higher than the current market price. This indicates that a large portion of investors remains at a loss, highlighting ongoing pressure and uncertainty in the market.
▫️Binance leads open interest during March rally
▪️According to CryptoQuant, Binance emerged as the leader in open interest during Bitcoin’s March rally. On March 16, the total open interest in perpetual futures for Bitcoin and Ethereum reached around $30 billion, marking the highest level since the end of January.
▪️Binance recorded the largest daily increase among all centralized exchanges, with Bitcoin open interest rising by $829 million and Ethereum open interest growing by $1.6 billion. This surge reflects heightened trading activity and increased participation in the derivatives market during the rally.
▪️According to CryptoQuant, Binance emerged as the leader in open interest during Bitcoin’s March rally. On March 16, the total open interest in perpetual futures for Bitcoin and Ethereum reached around $30 billion, marking the highest level since the end of January.
▪️Binance recorded the largest daily increase among all centralized exchanges, with Bitcoin open interest rising by $829 million and Ethereum open interest growing by $1.6 billion. This surge reflects heightened trading activity and increased participation in the derivatives market during the rally.
▫️Crypto market faces sharp decline
▪️Bitcoin has dropped below the $67,000 level, while Ethereum is trading around $2,000. The market downturn reflects increased selling pressure and weakening short-term momentum across major cryptocurrencies.
▪️Over the past 24 hours, more than $330 million in long positions have been liquidated. This wave of liquidations highlights heightened volatility and forced closures as traders were caught off guard by the sudden price move.
▪️Bitcoin has dropped below the $67,000 level, while Ethereum is trading around $2,000. The market downturn reflects increased selling pressure and weakening short-term momentum across major cryptocurrencies.
▪️Over the past 24 hours, more than $330 million in long positions have been liquidated. This wave of liquidations highlights heightened volatility and forced closures as traders were caught off guard by the sudden price move.
▫️Bitcoin miners face increasing pressure
▪️Working conditions for Bitcoin miners have tightened to the point where a large share of equipment worldwide is operating at a loss, according to a CoinShares report. The fourth quarter of 2025 became the most challenging period since the last halving, as the weighted average cost of mining one BTC for public companies rose to $79,995.
▪️At the same time, hashprice dropped to $36–38 per PH/s per day, at one point falling as low as $29. Three consecutive negative difficulty adjustments, recorded for the first time since July 2022, signal miner capitulation. CoinShares estimates that 15–20% of miners are currently unprofitable, with operators using outdated equipment and facing high electricity costs at greatest risk, especially those paying $0.05 per kWh or more.
▪️Working conditions for Bitcoin miners have tightened to the point where a large share of equipment worldwide is operating at a loss, according to a CoinShares report. The fourth quarter of 2025 became the most challenging period since the last halving, as the weighted average cost of mining one BTC for public companies rose to $79,995.
▪️At the same time, hashprice dropped to $36–38 per PH/s per day, at one point falling as low as $29. Three consecutive negative difficulty adjustments, recorded for the first time since July 2022, signal miner capitulation. CoinShares estimates that 15–20% of miners are currently unprofitable, with operators using outdated equipment and facing high electricity costs at greatest risk, especially those paying $0.05 per kWh or more.
▫️AI adoption accelerates as costs decline
▪️Falling training costs for neural networks are making the technology more accessible, while rising demand is driving the need for large-scale investment in computing infrastructure, according to ARK Invest analysts. By 2030, global spending on AI infrastructure could approach $1.5 trillion, reflecting the rapid expansion of the sector.
▪️Training costs are decreasing by about 75% annually, and can drop by up to 95% when using more efficient models. At the same time, global investment in server systems has accelerated from 5% annual growth before 2022 to around 30% over the past three years. AI adoption is also happening twice as fast as the internet did, reaching 20% penetration in just three years.
▪️Falling training costs for neural networks are making the technology more accessible, while rising demand is driving the need for large-scale investment in computing infrastructure, according to ARK Invest analysts. By 2030, global spending on AI infrastructure could approach $1.5 trillion, reflecting the rapid expansion of the sector.
▪️Training costs are decreasing by about 75% annually, and can drop by up to 95% when using more efficient models. At the same time, global investment in server systems has accelerated from 5% annual growth before 2022 to around 30% over the past three years. AI adoption is also happening twice as fast as the internet did, reaching 20% penetration in just three years.
▫️Tether audit concerns impact Circle shares
▪️The audit of Tether has been cited as one of the factors behind the correction in Circle’s shares, although the main driver of the 20% drop in CRCL was a growing consensus among U.S. lawmakers and bankers to отказаться от выплаты дохода за хранение стейблкоинов в рамках законопроекта Clarity Act.
▪️One of the reasons behind the potential audit of Tether’s reserves by a Big Four firm may be stalled negotiations to raise $20 billion. According to Bloomberg, some investors and bankers have been pushing for greater financial transparency throughout the fundraising process, although part of the investor base remains willing to support Tether even without a formal audit.
▪️The audit of Tether has been cited as one of the factors behind the correction in Circle’s shares, although the main driver of the 20% drop in CRCL was a growing consensus among U.S. lawmakers and bankers to отказаться от выплаты дохода за хранение стейблкоинов в рамках законопроекта Clarity Act.
▪️One of the reasons behind the potential audit of Tether’s reserves by a Big Four firm may be stalled negotiations to raise $20 billion. According to Bloomberg, some investors and bankers have been pushing for greater financial transparency throughout the fundraising process, although part of the investor base remains willing to support Tether even without a formal audit.
▫️Bitcoin experiences blockchain reorganization
▪️A blockchain reorganization occurred in Bitcoin affecting blocks following #941880. Mining pool AntPool initially mined block #941881, which was then followed by a block from ViaBTC.
▪️At the same time, the largest mining pool Foundry mined its own version of block #941881 and continued to produce seven consecutive blocks. Ultimately, the Foundry chain was accepted as the valid one, replacing the competing sequence.
▪️A blockchain reorganization occurred in Bitcoin affecting blocks following #941880. Mining pool AntPool initially mined block #941881, which was then followed by a block from ViaBTC.
▪️At the same time, the largest mining pool Foundry mined its own version of block #941881 and continued to produce seven consecutive blocks. Ultimately, the Foundry chain was accepted as the valid one, replacing the competing sequence.
▫️Ethereum whales signal potential rebound
▪️The unrealized profit ratio of Ethereum whales holding more than 100,000 ETH has moved above zero, signaling a possible price rebound, according to analyst CW. He noted that loss zones for large holders typically lie at the bottom of the trend line, and when whales return to profitability, it often marks the beginning of an upward move.
▪️Historically, once this group of investors re-enters the break-even zone, ETH has risen by an average of 25% within three months. After six months, gains have reached around 50%, and over a year, up to 300%. Another user, Sky, pointed out that the current price near $2,000 represents the highest trading volume level, suggesting that a reversal could occur at this point.
▪️The unrealized profit ratio of Ethereum whales holding more than 100,000 ETH has moved above zero, signaling a possible price rebound, according to analyst CW. He noted that loss zones for large holders typically lie at the bottom of the trend line, and when whales return to profitability, it often marks the beginning of an upward move.
▪️Historically, once this group of investors re-enters the break-even zone, ETH has risen by an average of 25% within three months. After six months, gains have reached around 50%, and over a year, up to 300%. Another user, Sky, pointed out that the current price near $2,000 represents the highest trading volume level, suggesting that a reversal could occur at this point.
▫️Crypto ETFs record outflows after four weeks of inflows
▪️Cryptocurrency ETF funds ended a four-week streak of inflows, recording $414 million in outflows between March 23 and March 27. The shift reflects a change in investor sentiment after a period of steady capital inflows into the sector.
▪️The outflows were driven by concerns over potential escalation in the Middle East and rising inflation risks as expectations of a Federal Reserve rate hike increased. Ethereum-based ETFs saw higher outflows than Bitcoin funds, with $221 million withdrawn compared to $194 million.
▪️Cryptocurrency ETF funds ended a four-week streak of inflows, recording $414 million in outflows between March 23 and March 27. The shift reflects a change in investor sentiment after a period of steady capital inflows into the sector.
▪️The outflows were driven by concerns over potential escalation in the Middle East and rising inflation risks as expectations of a Federal Reserve rate hike increased. Ethereum-based ETFs saw higher outflows than Bitcoin funds, with $221 million withdrawn compared to $194 million.
▫️Crypto market faces pressure amid volatility
▪️The cryptocurrency market is suffering from high volatility in traditional financial markets, with altcoins experiencing the greatest pressure. In the current cycle, they have not faced such a downturn before, as more than 40% of projects have approached or reached their all-time lows.
▪️At the same time, analysts at QCP Capital remain optimistic, noting that high oil prices continue to fuel inflationary pressure on the global economy, which could position cryptocurrencies as an alternative store of value. However, weak sentiment among both retail and institutional investors remains a key issue. A clear pattern has also emerged, with corrections often occurring closer to the weekend due to margin position closures, followed by recovery at the start of the new trading week.
▪️The cryptocurrency market is suffering from high volatility in traditional financial markets, with altcoins experiencing the greatest pressure. In the current cycle, they have not faced such a downturn before, as more than 40% of projects have approached or reached their all-time lows.
▪️At the same time, analysts at QCP Capital remain optimistic, noting that high oil prices continue to fuel inflationary pressure on the global economy, which could position cryptocurrencies as an alternative store of value. However, weak sentiment among both retail and institutional investors remains a key issue. A clear pattern has also emerged, with corrections often occurring closer to the weekend due to margin position closures, followed by recovery at the start of the new trading week.
▫️Aave launches version 4 on Ethereum
▪️The Aave team has launched the fourth version of its protocol on the Ethereum mainnet. The key innovation of the update is the Hub and Spoke architecture, where assets are now stored in central Liquidity Hubs connected to multiple Spokes with their own collateral rules, risk parameters, and liquidation mechanisms.
▪️To improve user experience, the team also introduced a free interface called Aave Pro. At launch, the application includes three hubs: Core Hub as the platform’s main market, Prime Hub designed for suppliers with stricter collateral requirements, and Plus Hub focused on stablecoin-based trading strategies.
▪️The Aave team has launched the fourth version of its protocol on the Ethereum mainnet. The key innovation of the update is the Hub and Spoke architecture, where assets are now stored in central Liquidity Hubs connected to multiple Spokes with their own collateral rules, risk parameters, and liquidation mechanisms.
▪️To improve user experience, the team also introduced a free interface called Aave Pro. At launch, the application includes three hubs: Core Hub as the platform’s main market, Prime Hub designed for suppliers with stricter collateral requirements, and Plus Hub focused on stablecoin-based trading strategies.
▫️Bitcoin fractal signals potential drop
▪️Amid the overall decline in market sentiment, a new Bitcoin fractal is gaining traction online, suggesting a possible price drop into the $30,000–$40,000 range.
▪️If the fractal plays out, it could signal a deeper correction phase for Bitcoin, reflecting continued uncertainty and bearish pressure in the current market environment.
▪️Amid the overall decline in market sentiment, a new Bitcoin fractal is gaining traction online, suggesting a possible price drop into the $30,000–$40,000 range.
▪️If the fractal plays out, it could signal a deeper correction phase for Bitcoin, reflecting continued uncertainty and bearish pressure in the current market environment.
▫️Aster launches its own layer-1 network
▪️DEX Aster from the BNB Chain ecosystem has launched its own Layer-1 network called Aster Chain. The network integrates zero-knowledge proof technology and stealth addresses, enabling accounts with default privacy and selective disclosure of information.
▪️Aster plans to introduce staking within the next week and expand its developer incentive program. Over the past 24 hours, trading volume on the platform reached $2.3 billion, while at its peak the exchange recorded nearly $18 billion in daily volume.
▪️DEX Aster from the BNB Chain ecosystem has launched its own Layer-1 network called Aster Chain. The network integrates zero-knowledge proof technology and stealth addresses, enabling accounts with default privacy and selective disclosure of information.
▪️Aster plans to introduce staking within the next week and expand its developer incentive program. Over the past 24 hours, trading volume on the platform reached $2.3 billion, while at its peak the exchange recorded nearly $18 billion in daily volume.
▫️USDC overtakes USDT in stablecoin dominance
▪️USDT has lost its status as the dominant stablecoin, with USDC accounting for over 50% of transaction volume consistently since the beginning of 2026. This shift highlights a significant change in user preference within the stablecoin market.
▪️The trend has also impacted the blockchains supporting stablecoin payments. According to Visa data, Solana became the leading network for stablecoins last month, surpassing TRON and Ethereum. So far this month, Ethereum has taken the top position, followed by Solana and TRON respectively.
▪️USDT has lost its status as the dominant stablecoin, with USDC accounting for over 50% of transaction volume consistently since the beginning of 2026. This shift highlights a significant change in user preference within the stablecoin market.
▪️The trend has also impacted the blockchains supporting stablecoin payments. According to Visa data, Solana became the leading network for stablecoins last month, surpassing TRON and Ethereum. So far this month, Ethereum has taken the top position, followed by Solana and TRON respectively.
▫️Changes reshape the crypto top 10
▪️The cryptocurrency top 10 has seen another reshuffle, with XRP surpassing BNB in market rankings. This shift reflects changing market dynamics and investor interest among leading digital assets.
▪️At the same time, HYPE has entered the top 10, pushing ADA out of the list. The update highlights increasing competition among major cryptocurrencies and the rapid rise of emerging projects.
▪️The cryptocurrency top 10 has seen another reshuffle, with XRP surpassing BNB in market rankings. This shift reflects changing market dynamics and investor interest among leading digital assets.
▪️At the same time, HYPE has entered the top 10, pushing ADA out of the list. The update highlights increasing competition among major cryptocurrencies and the rapid rise of emerging projects.