Crypto World
Bitcoin fails to sustain breakout momentum as rate hikes beckon: Crypto Markets Today
Crypto markets demonstrated fragility on Friday, with bitcoin trading narrowly above a psychological level of support at $70,000.
The largest cryptocurrency broke above this level on Wednesday, rising to as high as $74,000 before failing to capitalize on a lower-liquidity zone above, and falling back alongside U.S. equities.
The intensifying war in the Middle East pushed oil to a new cycle high of $85 per barrel. Brent crude has risen roughly 42% since the start of the year. The surge in energy costs, alongside growing uncertainty around Iran, has prompted traders to reassess the inflation outlook in Europe, with money markets now even pricing the possibility of a European Central Bank rate increase by year-end — a sharp reversal from expectations for rate cuts in 2025.
Higher interest rates would typically weigh on bitcoin and the broader crypto market, as investors shift toward safer assets that offer attractive yields without the volatility associated with risk assets.
The altcoin market has also shown signs of weakness over the past week according to Santiment’s social volume tracker, which indicates that social media sentiment for the speculative market is nearing rock bottom.
Derivatives positioning
- The market is consolidating as bitcoin open interest (OI) rises to $16.16 billion from $15 billion last week, indicating a return of speculative interest.
- While retail funding remains stable in the 0%-to-10% range, Binance has flipped to -2.5%, signaling a localized surge in short hedging.
- Three-month basis is holding at 2.7%, a sign that institutional conviction remains soft.
- The options market has shifted toward cautious optimism. The 24-hour call volume split has tightened to 51/49 and the one-week 25-delta skew has cooled to 8% (from 15%), significantly lowering the cost of downside protection.
- While longer-dated implied volatility (IV) remains stable near 50%, the near-term has spiked into sharp backwardation, a signal that traders are pricing in an immediate, high-impact volatility event before a return to mid-term growth.
- Coinglass data shows $257 million in 24-hour liquidations, with a 70-30 split between longs and shorts. BTC ($121 million), ETH ($51 million) and others ($15 million) were the leaders in terms of notional liquidations.
- The Binance liquidation heatmap indicates $71,600 as a core liquidation level to monitor, in case of a price rise.
Token talk
- Decentralized finance (DeFi) tokens MORPHO and JUP led Friday’s selloff, losing between 2% and 3% since midnight UTC as traders rotated out of speculative tokens back into dollars.
- OKX’s native OKB token was the top gainer in the past 24 hours, rising by 23% after trading giant Intercontinental Exchange (ICE) signed a deal with the exchange to introduce tokenized stocks and crypto futures products.
- There were also substantial gains for KITE and RIVER, each rising around 15% in the past 24 hours to continue their impressive starts to the year.
- Privacy tokens continued to lose ground with zcash (ZEC) and decred (DCR) dropping 6% in the past 24 hours and the downturn accelerating since midnight UTC.
At a certain point, Strategy investors might start asking themselves what the difference is between STRC and just buying bitcoin (BTC) on a credit card.
Michael Saylor has called STRC his company’s “greatest feat of financial engineering to date,” but its costs keep getting worse. Indeed, its dividend obligations have increased 27% since July, worsening every month since issuance.
Saylor is sticking to the belief that BTC will somehow rally 30% a year for at least a decade to pay for everything, even though the last year it appreciated that much was 2021. Fixated on that number as an imaginary cushion, Saylor has casually hiked STRC’s monthly interest rates toward something that looks more like paying off a credit card than responsibly raising capital for long-term investing.
STRC is a perpetual dividend-paying preferred stock and the company’s self-proclaimed “iPhone moment.”
When the company sells STRC to investors, it funds BTC purchases for Strategy in exchange for monthly dividend payments at an interest rate about 60% the rate of the average US credit card.
On average, US consumers pay about 18.7% to 19.6% APR to service their credit card balance, depending on the poll. Strategy now pays STRC holders 11.5%, or about 60% of that rate, just to keep STRC near its quasi-peg or “par” value of $100 per share.
When STRC launched last July, it offered generous 9% annual dividends, and Saylor’s dubious promise of bank account-like stability.
After STRC fell to $90.52 in November, and again to $93.10 in February, Saylor paid up to guarantee his “iPhone moment” wouldn’t flop.
Incredibly, Strategy has hiked STRC’s dividend seven times since launch.
Read more: Strategy manager wrong about BTC backing STRC
‘Low volatility’ needed a bailout from volatility
Strategy’s cumulative 250 basis point increase since launch has worked, at least temporarily. The rapid and dramatic dividend hikes have bailed out STRC from its downside volatility.
This week, Saylor boasted about STRC trading in a tight intraday range near $100. He then retweeted a Strategy employee calling STRC “the most creative financial instrument in today’s capital markets.”
On the back end, that creativity carries a price tag. Strategy’s total annual dividend obligations now exceed $900 million.
Moreover, the company is under considerable pressure. It’s reported a $12.4 billion net loss for Q4 2025 and its common stock, MSTR, has declined 8% year-to-date, 54% over the past 12 months, and 74% from its November 2024 high.
Worse, the company’s entire BTC-buying operation has lost money since inception. BTC is worth less than Strategy’s average purchase cost of $75,985 per coin, and the company would have fewer losses if it had never bought BTC in the first place.
Moreover, the company’s premium to its BTC holdings has collapsed entirely.
At 11.5% and rising, the question is probably not whether STRC can trade at its $100 par, but how much Strategy can afford to pay to keep it trading there.
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Controversial Tron founder Justin Sun has been asked to pay a $10 million fine as part of a lawsuit settlement with the US Securities and Exchange Commission (SEC).
The SEC’s legal counsel informed Judge Edgardo Ramos yesterday of the arrangement made between the government body and Sun’s Rainberry (formerly BitTorrent).
The settlement, which still requires court approval, would see the SEC drop all claims brought against Sun, his firms, and his token, Tron (TRX). The regulator had made allegations of wash trading, price manipulation, and the sale of unregistered securities.
“The remaining claims against Rainberry would be dismissed with prejudice. The final judgment would also dismiss all claims against Justin Sun, Tron Foundation, and BitTorrent Foundation,” the letter reads.
Read more: Justin Sun’s TRON stock is dying
Rainberry also agreed to be “permanently enjoined” from violating Section 17(a)(3) of the Securities Act 1933, which forbids engaging “in any transaction, practice, or course of business which operates or would operate as a fraud or deceit upon the purchaser.”
The SEC’s legal counsel argues that the court should approve the settlement “because it is fair and reasonable and does not disserve the public interest.” It also dropped its claims against rapper DeAndre Cortez Way, otherwise known as Soulja Boy.
He was accused of illegally promoting the TRX tokens along with a host of other celebrities.
Justin Sun ‘pleased’ with SEC settlement
Sun noted that he was “very pleased” with the result, and that it brings him “closure.”
He said, “I will continue to focus on accelerating innovation in the United States and around the world and look forward to working with the SEC to develop guidance and regulations for crypto going forward.”
In contrast, former SEC Chief of Staff Amanda Fischer called the result “an embarrassment to the agency and to this industry.”
Read more: ‘Chinese Instagram’ Rednote bans Justin Sun’s accounts
The SEC launched its lawsuit against Sun back in 2023. Then, on January 16, 2025, the defendants requested to “stay” the case and pause the proceedings.
This was due to the recent SEC dismissal of another lawsuit against Coinbase, and a desire from the defendants to wait out the outcome of “interlocutory appeal proceedings” in the Coinbase case.
Repeated requests paused the lawsuit for over a year as both the SEC and Sun’s counsel held discussions. This was at a time when the Donald Trump administration began to reshape the crypto regulatory landscape, leading to accusations of corruption.
The SEC’s now seemingly dead case is one less headache for Sun, who currently has a litany of legal cases on the go.
Indeed, he’s currently in a legal battle with Bloomberg over his inclusion in the publisher’s Billionaire Index, and is suing music mogul David Geffen over a sculpture.
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Solana price has confirmed a range-high deviation near the $90.89 resistance level, signaling weakening bullish momentum.
Summary
- Range-high deviation: Solana failed to sustain a breakout above $90.89 resistance.
- Point of Control at risk: Loss of this level signals increasing bearish pressure.
- $75.75 support in focus: Range-low and value area low become the next downside target.
Solana’s (SOL) recent price action is showing signs of structural weakness after failing to sustain a breakout above a key resistance zone. The rejection at the range high near $90.89 has created a deviation pattern, where price briefly traded above resistance before quickly returning back into the trading range.
Such deviations often signal exhaustion in bullish momentum and increase the probability of a corrective move toward lower support levels.
Solana price key technical points
- Range-high deviation: Solana failed to sustain a breakout above the $90.89 resistance.
- Point of Control under pressure: Current price acceptance around this level signals weakening momentum.
- Downside target: $75.75 range-low support aligns with the value area low.
Solana recently attempted to push above the $90.89 range-high resistance, which represents a major high-timeframe level. Initially, the market showed signs of strength, with several four-hour candles closing above this level. However, the breakout lacked follow-through momentum, and price quickly reversed back below the resistance. This type of move is commonly referred to as a deviation, where price temporarily breaks above resistance but fails to establish acceptance.
Deviation patterns are important signals in market structure analysis because they often indicate that liquidity above the highs has been taken before a move in the opposite direction. In Solana’s case, the inability to sustain price above $90.89 suggests that buyers lacked the strength needed to continue the rally. As a result, the market has now returned to trading within the established range.
Currently, Solana is trading around the point of control, which represents the price level with the highest traded volume within the current range. This level often acts as a temporary equilibrium where buyers and sellers find balance. However, the longer price remains below the range high and struggles to reclaim higher levels, the more pressure begins to build on this support.
The loss of the point of control would be a significant technical development. If this level fails to hold, it would signal that sellers have taken control of the short-term market structure. In such a scenario, the market would likely rotate toward the next major support area located near the range low.
The key level to watch below sits around $75.75, which aligns with both the range low and a high-timeframe support zone. This area also coincides with the value area low, making it an important region where buyers may attempt to defend price. Historically, value area lows often attract liquidity as the market searches for balance within the broader trading range.
If Solana continues to show weakness and breaks below the point of control, price could move quickly toward this support region. Markets often accelerate toward lower liquidity zones once key support levels fail, especially after a confirmed deviation at resistance.
The broader trading environment also supports the possibility of continued rotation within the range. Range-bound markets frequently move between the value area high and value area low as liquidity is redistributed. With the range-high deviation now confirmed and price trading below resistance, the probability favors a move toward the lower boundary of the range.
On the fundamental side, Western Union is also expanding its blockchain payment initiatives with a new stablecoin project tied to the Solana network, further highlighting growing institutional interest in the ecosystem.
What to expect in the coming price action
From a technical perspective, Solana remains vulnerable to further downside after confirming the range-high deviation at $90.89. As long as price remains within the range and fails to reclaim the lost resistance, the probability favors a rotation toward the $75.75 range-low support.
A breakdown below this level would significantly increase capitulation risk, potentially opening the door for a deeper corrective move.
Kazakhstan’s central bank plans to begin investing as much as $350 million from its gold and foreign exchange reserves into a crypto-linked portfolio, with the first purchases expected in April or May, senior officials reportedly said during a Friday news briefing.
According to Reuters, National Bank Governor Timur Suleimenov said the bank is compiling a list of instruments for the portfolio. He said the basket would include crypto-linked assets and did not rule out direct cryptocurrency exposure, though officials indicated the initial emphasis would be on listed instruments tied to the sector.
Deputy Governor Aliya Moldabekova reportedly said the bank expects the first investments to begin in April or May. Until then, funds allocated for the initiative are being held in money market instruments. She said the investments may also include shares in companies tied to digital asset infrastructure and exchange-traded funds (ETFs) tracking them.
The remarks were made during a briefing following the bank’s interest rate decision on Friday.
🇰🇿 JUST IN: Kazakhstan’s central bank plans a $350M portfolio tied to crypto markets, expected to begin in April–May. pic.twitter.com/Sm0gu3qTGz
— Cointelegraph (@Cointelegraph) March 6, 2026
The move is one of Kazakhstan’s clearest steps yet toward gaining market exposure to digital assets through reserve management.
Related: Kazakhstan to launch crypto pilot zone for payments and adoption
Citing the central bank, National Business reported that about $350 million from Kazakhstan’s National Fund would be allocated to build the portfolio.
The outlet added that an additional $350 million from the central bank’s gold and foreign exchange reserves may be used to create a separate sub-portfolio tied to similar assets.
Kazakhstan expands digital asset strategy
The development comes as Kazakhstan expands efforts to integrate digital assets into its financial ecosystem.
On Nov. 7, 2025, officials were considering creating a state crypto reserve of between $500 million and $1 billion, funded partly by sovereign wealth assets and confiscated digital assets. The new portfolio implementation appears to advance those earlier discussions.
Kazakhstan has also explored other initiatives tied to digital assets. On Sept. 30, 2025, the government launched the state-backed Alem Crypto Fund to invest in digital assets through the Astana International Financial Centre.
Cointelegraph reached out to the National Bank of Kazakhstan, but had not received a response by publication.
Magazine: What’s a ‘Network State’ and are there real-life examples? Big Questions
The digital asset landscape extended its bridge to traditional finance this week as Kraken secured direct access to the Federal Reserve’s payment rails. By winning a limited-purpose master account with the Federal Reserve Bank in Kansas City, Kraken is poised to move dollars with unprecedented directness, reducing the industry’s dependence on intermediary banks. The move signals continued maturation of crypto infrastructure even as the broader market endures headwinds from a months-long correction. Across the ecosystem, other steps—such as MARA Holdings clarifying its treasury stance and Fold strengthening its balance sheet—underscore a push toward greater financial resilience and institutional alignment.
Key takeaways
- Kraken obtained a limited-purpose master account with the Kansas City Federal Reserve, enabling direct use of the Fedwire system for real-time settlement of US dollar payments.
- The arrangement provides direct central-bank access for a crypto-native firm, with an initial one-year term and conditions tailored to Kraken’s risk profile.
- MARA Holdings clarified that recent disclosures about Bitcoin treasury management expand flexibility rather than signal an imminent sale.
- Fold eliminated $66.3 million in convertible debt and freed up 521 BTC collateral, strengthening its balance sheet ahead of a forthcoming Bitcoin rewards card launch.
- TD Securities and NYSE-related tokenization discussions suggest institutional appetite could grow if regulatory and infrastructure steps advance, including 24-hour trading and near-instant settlement for tokenized assets.
Tickers mentioned: $BTC
Market context: The Fed-access milestone sits within a broader drift toward blending crypto rails with traditional banking and settlement networks, as liquidity conditions tighten and investors seek clearer onramps, while tokenization and institutional-grade products loom as catalysts for wider participation.
Why it matters
Direct access to the Federal Reserve’s payment infrastructure represents a meaningful validation of crypto-market infrastructure, reducing reliance on correspondent banks and potentially lowering settlement frictions for USD-denominated crypto operations. Kraken’s ability to route payments through the Fedwire system—via a master account that is described as limited-purpose—could improve settlement transparency and speed for a crypto exchange, marking a shift from a peripheral billing role to a more integrated financial intermediary. This development aligns with a broader industry trajectory toward sanctioned access to public-sector rails, signaling regulators’ willingness to harmonize digital assets with mainstream financial systems without sacrificing risk controls. As Kraken frames the arrangement as a step toward becoming a directly connected financial institution, observers will watch how the arrangement evolves beyond the initial one-year term and what criteria accompany any renewal.
Concurrently, the crypto ecosystem has been wrestling with corporate treasury decisions that influence market sentiment. Bitcoin-focused MARA Holdings sought to reassure investors by clarifying that its recent disclosures about treasury management were designed to signal flexibility rather than an imminent liquidation of its BTC reserves. In a filing discussion, the company described an expanded treasury strategy that would allow BTC sales if market conditions warranted, alongside periodic BTC purchases. While some market observers had interpreted the filing as a potential for large-scale sales, company representatives stressed that the policy is designed to provide optionality while preserving long-term strategic goals. The situation underscores how treasury policies can become focal points for sentiment in a sector where balance-sheet discipline matters to institutional investors.
On the balance-sheet front, Fold made a material move to de-risk near-term pressure by retiring about 66 million in convertible debt, freeing up roughly 521 BTC that had served as collateral. The payoff reduces potential dilution from future equity issuance and strengthens the company’s leverage profile as Fold advances plans for a Bitcoin rewards card on the Visa network. Fold’s Nasdaq listing following a SPAC merger underscored the push to bring more Bitcoin-focused financial services into the public market, signaling how traditional markets are increasingly factoring crypto-native business models into their valuations and governance frameworks.
Beyond individual company dynamics, market participants are watching the NYSE’s tokenization framework and related commentary from traditional financial players. A TD Securities strategist flagged the potential for institutions to participate more broadly in tokenized equities and ETFs as the ecosystem develops. The NYSE has proposed tokenizing stocks and ETFs with 24-hour trading and near-instant settlement while preserving established market rules and custody arrangements. The envisioned architecture—where custody and settlement stay with the DTCC while trading adheres to NBBO standards—paints a pathway for deeper institutional engagement with blockchain-based market structures. Taken together, these developments illustrate how the line between crypto-native finance and conventional markets is steadily blurring, driven by infrastructure improvements, regulatory clarity, and a growing appetite from investors for more efficient settlement and access to digital assets.
What to watch next
- One-year term for Kraken’s Fed master account: monitor renewal discussions and any conditions tied to ongoing risk reviews.
- MARA’s 10-K updates: track disclosures on treasury policy and any stated triggers for BTC sales or purchases.
- Fold’s BTC rewards card timeline: watch for product milestones and any changes to its debt posture.
- NYSE tokenization progress: follow governance milestones, regulatory feedback, and any 24-hour trading pilots or settlement experiments.
- Broader institutional interest in tokenized equities and ETFs as infrastructure matures and custody solutions scale.
Sources & verification
- Kraken’s Fed master account and Fedwire access: https://cointelegraph.com/news/kraken-crypto-exchange-fed-master-account
- MARA Bitcoin sell-off claims and treasury strategy details: https://cointelegraph.com/news/mara-bitcoin-sell-off-claims-fact-check-treasury-strategy
- MARA Form 10-K and treasury policy expansion: https://cointelegraph.com/news/mining-companies-ai-hpc-mara-sell-bitcoin
- Fold debt payoff and BTC collateral release: https://cointelegraph.com/news/bitcoin-company-fold-pays-off-66m-debt-frees-up-btc-collateral
- NYSE tokenization framework and market impact: https://cointelegraph.com/news/nyse-tokenized-stocks-td-securities-market-impact
- NYSE tokenization of stocks and ETFs platform: https://cointelegraph.com/news/nyse-develops-blockchain-trading-platform-tokenized-stocks-etfs
- MDARC tweet status referenced in coverage: https://x.com/MARA/status/2028880550283350246
Kraken’s Fed access signals crypto infrastructure matures
The milestone for Kraken sits at the intersection of policy, technology, and market structure, illustrating how the crypto sector is gradually embedding into the core of the traditional financial system. A direct, Fed-backed rails connection can reduce the friction that once forced crypto firms to navigate a web of banking partners with varying risk appetites. While the arrangement remains in its early stages—with a one-year term and tailored risk controls—it provides a blueprint for future collaborations between digital-asset entities and central-bank infrastructure. As the ecosystem broadens its toolkit—from improved balance sheets to tokenized markets—the path toward more resilient, institutionally palatable crypto finance becomes clearer. The coming months will reveal how regulators, custodians, and market makers adapt to this deeper integration, and whether similar access becomes a more widespread feature for crypto firms seeking to scale operations in a regulated, transparent environment.
Pakistan’s parliament passed the Virtual Assets Act, 2026 on Wednesday, cementing the Pakistan Virtual Assets Regulatory Authority (PVARA), a government agency, as the country’s digital asset regulator.
The framework gives PVARA, established in July 2025, the authority to enforce licensing requirements and oversight over digital asset service providers, according to an announcement from the regulator.
PVARA is also tasked with setting and enforcing anti-money laundering provisions and international sanctions compliance under the new legislation. PVARA Chairman Bilal Bin Saqib said:
“With no objection certificates (NOCs) already issued and banking rails being developed in coordination with the State Bank of Pakistan, we are now moving toward a comprehensive licensing framework aligned with global AML and financial integrity standards.”
The bill passed in both the Senate and Pakistan’s National Assembly, but must still be signed by Pakistan President Asif Ali Zardari to become law.
The government of Pakistan moved to regulate cryptocurrencies as legal tender in November 2024, reversing long-standing pushback from regulators, who said crypto would never be legalized or integrated into the financial system.
Related: SEC proposes ‘token taxonomy’ for interpreting crypto under securities laws
Pakistan may emerge as a crypto hub in five years
Since that time, Pakistan has announced a Bitcoin strategic reserve and dedicated 2,000 megawatts of electricity for mining and AI data centers.
Digital assets are the foundation of a “new financial rail for the global south,” and Pakistan views blockchain technology as critical infrastructure, Bin Saqib said at the Bitcoin MENA conference in December 2025.
In January, Pakistan signed a memorandum of understanding with SC Financial Technologies, an affiliate of World Liberty Financial, the decentralized finance platform founded by US President Donald Trump’s sons.
The collaboration will explore the use of the USD1 stablecoin for digital payments, including cross-border transactions and remittances.
Binance co-founder Changpeng Zhao said Pakistan could emerge as a global hub for digital assets by 2030 if the country continues its rapid pace of development and regulatory progress.
Magazine: Pakistan will deploy Bitcoin reserve in DeFi for yield, says Bilal Bin Saqib
PancakeSwap, the leading decentralized exchange on BNB Smart Chain, rolled out the StableSwap feature on March 1.
PancakeSwap, the leading decentralized exchange (DEX) on BNB Smart Chain, is facing allegations of unauthorized code use.
Earlier today, Ethereum-based DEX Curve Finance accused the platform of copying its StableSwap code without permission, constituting a violation of the code’s license. PancakeSwap rolled out the StableSwap feature on March 1.
“Looks like you copied our code without asking. It is violation of its license. Not only it is illegal: historically it showed to be unwise for those who did it this way in other regards,” Curve wrote on X.
Curve also offered to discuss licensing and potential collaboration to enable PancakeSwap to use the code legally.
“We’re reaching out to your team directly to discuss this,” responded PancakeSwap.
Curve’s StableSwap algorithm is designed to enhance stablecoin exchanges by reducing slippage and fees, making it a valuable asset in decentralized finance (DeFi).
PancakeSwap’s CAKE token is down nearly 4% in the past 24 hours, but remains up 4% over the past week.
PancakeSwap currently holds a total value locked (TVL) of approximately $2 billion, according to DeFiLlama, making it the second-largest DEX after Uniswap.
This article was generated with the assistance of AI workflows.
Investors have poured money into emerging markets in recent years as the search for big stock gains has migrated overseas and as they look for diversification beyond the concentrated S&P 500. But the U.S.-Iran military conflict has reframed the concentration question, highlighting the level of risk in emerging markets when it comes to gains being dependent on a select number of stocks, many tied to the AI boom.
The iShares MSCI Emerging Markets ETF (EEM) has had strong performance over the past few years and into 2026, up 29% in 2025 and still holding onto a small gain this year. However, its holdings remain largely tilted toward Asia, with large exposure to China, South Korea, India, and Taiwan, together representing over three-quarters of the index weight, and many of the top stocks tied to tech, including Taiwan Semiconductor and Samsung.
“If you look at the index within emerging markets, it’s still roughly 80% Asia,” Malcolm Dorson, senior emerging markets portfolio manager and senior v.p. head of the active investment team at ETF company Global X said on CNBC’s “ETF Edge” earlier this week. “That gives you a lot of concentration risk,” he said.
Overall, the EM index has a 30%-plus tech sector weighting.
South Korean stocks have experienced extreme volatility this week. The market posted its worst single-day move ever on Wednesday as the escalating war in the Middle East resulted in concerns about energy supplies to Asia, where top stocks in the memory sector fueling the AI boom rely on energy-intensive processes. After its worst day ever, the South Korean index rebounded on Thursday for its best day since 2008. The iShares MSCI South Korea ETF (EWY) is still down close to 13% this week.
Some of the enormous volatility in South Korean stocks is tied to how well they have performed recently, and how many retail investors have seen big gains from holding them. SK Hynix, a top holding in the broad emerging market indexes, gained 274% last year, while Samsung gained 125%.
Performance of the iShares MSCI South Korea ETF over the past one-year period.
A huge spike in oil prices since the outbreak of the military conflict has rattled global markets. On Friday, Brent crude futures topped $90 and U.S. West Texas Intermediate crude futures were closing in on that range, up more than 30% this week, while Brent has advanced nearly 26%.
The energy squeeze in Asian nations can be seen in China’s reported decision this week to tell domestic oil refining companies to stop any exports of fuel, and more Asian nations may follow with similar moves to retain energy stockpiles, energy market experts have said.
It isn’t time to abandon emerging markets, according to ETF investing strategists, and some macroeconomic factors may sustain outperformance in these markets over the longer-term. But Dorson said a “barbell approach” to investment strategy may be wise, balancing exposure between different types of emerging markets rather than relying on one region. He says thinking this way should lead investors who want to maintain international exposure to look at Latin America as a balance against Asian markets.
“I think you need to have both,” Dorson said.
Countries like Argentina, Brazil, and Colombia are heavily linked to energy and commodities market, and he said rising oil prices can provide an additional tailwind for those economies. “I’d say 25 to 33% of the story should be that attractiveness of getting exposure to commodities,” he said. He added that there are also political reform efforts in Latin American nations that could serve as additional tailwinds for economies. “All eyes are on political change that could drive fiscal reform,” he said, and he added that may benefit financial services sector stocks across the region.
Equities in several Latin America markets also trade at significant discounts to U.S. stocks, with many price-to-earnings ratios roughly half those in the S&P 500. For example, Vanguard’s S&P 500 ETF, VOO, currently trades at a P/E ratio of 28, while its emerging markets ETF, VWO, trades at a P/E ratio of 18.
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Crypto World
Counter-Drone Defense Stocks Surge as Iran Conflict Escalates: Ondas (ONDS), BlackSky, and Iridium
Key Takeaways
- Since hostilities erupted, Iran has launched more than 500 ballistic missiles and 2,000 drones, with inexpensive Shahed drones penetrating air defenses
- Attacks resulted in six U.S. military deaths and strikes on regional assets including the U.S. Embassy in Saudi Arabia
- Ondas shares have climbed more than 1,200% over the past year, with the company announcing $6 million in fresh counter-drone contracts from Middle Eastern clients
- Oppenheimer maintains Outperform ratings on Ondas, BlackSky, and Iridium as beneficiaries of the escalating drone threat
- Airobotics, an Ondas subsidiary, maintains a $20 million contract for autonomous perimeter defense technology
The intensifying aerial confrontation involving the U.S., Israel, and Iran is creating unprecedented demand for anti-drone solutions — and several publicly traded companies are capitalizing on the shift.
According to Gen. Dan Caine, chairman of the Joint Chiefs of Staff, Iran has deployed over 500 ballistic missiles and more than 2,000 drones since fighting erupted last Saturday. Although most were neutralized, successful strikes inflicted significant casualties and infrastructure damage.
Six U.S. military personnel lost their lives at a Kuwaiti installation. The U.S. Embassy in Saudi Arabia sustained damage. Qatar’s primary liquified-natural-gas facility was hit. Iran’s preferred weapon is the economical Shahed drone, designed for swarm attacks that can saturate conventional defense networks.
Oppenheimer analyst Timothy Horan stated that U.S. and Israeli forces had “significantly underestimated Iran’s drone capabilities.” He emphasized that the attacks are depleting interceptor inventories and exposing vulnerabilities in legacy counter-drone platforms.
Ondas has emerged as a primary beneficiary. The company manufactures the Iron Drone interceptor system, capable of neutralizing various small unmanned aerial vehicles. Oppenheimer maintains an Outperform rating with a $16 price target. Shares climbed 4.9% to $10.51 on Wednesday.
On March 6, Ondas disclosed approximately $6 million in new contracts for counter-drone platforms from defense and homeland security agencies across the Middle East and additional territories. The purchase orders encompass dozens of Sentrycs Cyber-RF counter-UAS units.
How Sentrycs Technology Works
The Sentrycs platform identifies, monitors, and hijacks unauthorized drones through protocol manipulation techniques. It can autonomously redirect hostile drones from sensitive zones or force landings in safe areas. The manufacturer emphasizes rapid deployment compatibility with existing detection infrastructure.
Ondas CEO Eric Brock highlighted “strong demand and a growing urgency among governments to find scalable solutions for defending critical infrastructure.”
The firm also posted 208% revenue expansion over the trailing twelve months and maintains a net cash position. Its current market capitalization reaches $4.72 billion.
BlackSky and Iridium Emerge as Satellite-Based Plays
BlackSky and Iridium represent complementary investment opportunities tied to the drone conflict. Both deliver satellite and communications infrastructure, increasingly critical as aerial warfare unfolds in what analysts describe as a “highly contested” communications landscape throughout the Gulf.
BlackSky shares advanced 7% to $24.30 on Wednesday. Iridium appreciated 2.1% to $24.51. Oppenheimer assigns Outperform ratings to both companies, with price targets of $31 and $34 respectively.
Additional defense contractors with counter-drone capabilities include CACI, AeroVironment, Kratos Defense, Lockheed Martin, RTX, and Northrop Grumman — offering solutions ranging from electronic jamming to directed-energy weapons to kinetic interceptors.
Ondas subsidiary Airobotics maintains a distinct $20 million purchase agreement for an autonomous perimeter security platform under a multi-year government procurement.
Demand for tokenized commodities is increasing as investors look for safe-haven exposure through crypto-native markets that trade around the clock, rather than only during traditional market hours.
The tokenized commodities sector grew 10% over the past month to $7.69 billion in cumulative market capitalization, while holders increased by 5.8% to 189,390, according to data aggregator RWA.xyz.
Tether Gold (XAUT) makes up the lion’s share with $2.96 billion of onchain commodities, while Paxos Gold (PAXG) is second with $2.56 billion.
The growth underscores how real-world assets are becoming a larger part of crypto market activity. Tokenized commodities allow investors to gain 24/7 blockchain-based exposure to assets including gold and silver, while offering the ability to transfer and trade them through digital asset infrastructure.
Related: Crypto’s yield gap with TradFi narrows as staking, RWAs surge
Crypto exchanges emerge as new TradFi venues
At the same time, crypto exchanges are drawing more interest from traders seeking exposure to traditional assets through derivatives.
This trend is particularly visible during strong price trend periods such as the recent gold and silver rallies, according to blockchain data platform CryptoQuant.
“Activity has spiked during periods of strong precious-metal price momentum,” wrote CryptoQuant’s head of research, Julio Moreno, in a research report published on Tuesday.
He added that daily volume was overwhelmingly concentrated in gold and silver contracts, which reached $3.77 billion and $3.75 billion, respectively, on Tuesday.
Related: US financial markets ‘poised to move on-chain’ amid DTCC tokenization greenlight
Binance perpetual trading activity on the rise
Trading in those products has expanded quickly. CryptoQuant said Binance’s TradFi perpetual futures have generated more than $130 billion in cumulative trading volume and about 90 million trades since launching in January.
CryptoQuant attributed the rising demand for tokenized commodities and the precious metal rally to tariff-related uncertainty, higher interest rates and stronger safe-haven demand.
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