Crypto World
Circle Internet Group (CRCL) Stock Surges 7.5% on Clear Street Buy Rating
Key Takeaways
- Clear Street analyst Owen Lau upgraded CRCL to Buy from Hold, increasing the price target from $92 to $136
- USDC circulation reached a new record of $79 billion after recovering from January’s $70 billion level
- Analyst identifies five key growth drivers: tokenized financial products, prediction market expansion, Middle East payment needs, AI agent infrastructure, and upcoming stablecoin regulation
- Year-to-date, CRCL shares are up 46%, though they remain 56% below the June 2025 high of $264
- Expected passage of the Digital Asset Market Clarity Act by summer’s end could trigger additional institutional investment
Shares of Circle Internet Group rallied 7.5% to $123.98 during Monday’s session after receiving a bullish upgrade from Clear Street, which elevated the stablecoin issuer to Buy and boosted its price target from $92 to $136.
The surge positions CRCL for its strongest closing price since October of last year, data from Dow Jones Market Data indicates.
Analyst Owen Lau at Clear Street outlined five distinct catalysts supporting the upgraded rating, emphasizing that each reflects genuine commercial adoption of USDC rather than speculative cryptocurrency trading.
Circulation of USDC has rebounded to a record $79 billion after sliding to approximately $70 billion in late January. This growth occurred despite the broader cryptocurrency market tumbling roughly 44% from October 2025 peaks.
“USDC market capitalization continued to trend higher, even as broader equity and crypto markets declined, suggesting demand was driven by transactional utility rather than speculative positioning,” Lau explained in his research note.
The ongoing Middle East conflict represents one significant demand driver. As traditional banking infrastructure and currency exchanges face disruption throughout the region, individuals have increasingly adopted USDC for remittance transactions and international payments — precisely the use case for which the stablecoin was originally designed.
Institutional Tokenization and Betting Platforms
Financial services firms continue accelerating their tokenization efforts — converting traditional assets into blockchain-based instruments — with USDC becoming a preferred settlement mechanism due to its regulatory framework and widespread platform integration.
Prediction markets contribute additional growth. Polymarket, which processed $22 billion in trading volume during the previous year and plans U.S. market entry, exclusively settles transactions in USDC. Increased activity on such platforms directly translates to higher USDC circulation.
The development of agentic AI represents a longer-horizon opportunity. The concept envisions autonomous AI agents executing tasks — arranging travel, executing contracts, processing purchases — without requiring human intervention. Such automated transactions demand digital payment infrastructure with 24/7 settlement capabilities. Circle is developing its Arc blockchain protocol specifically to support this emerging ecosystem.
“A central misperception among investors is conflating the fortunes of speculative crypto assets with the adoption trajectory of payment stablecoins,” Lau noted. “These are structurally distinct.”
Legislative Progress Expected
Clear Street anticipates a favorable regulatory development in coming months. The Digital Asset Market Clarity Act remains under negotiation, with the primary debate centered on whether stablecoin holders should receive yield on their holdings.
Given President Trump’s active engagement in pushing stakeholders toward resolution, Clear Street projects the Clarity Act will become law before summer concludes. The firm believes passage would remove a significant barrier to institutional capital allocation in digital assets.
“Our conversations with institutional allocators consistently highlight regulatory uncertainty as the primary barrier to increasing crypto exposure,” Lau stated.
The $136 valuation target applies a 30x EV/EBITDA multiple to Clear Street’s fiscal 2028 adjusted EBITDA projection of $1.132 billion, with an additional $2.3 billion in net cash incorporated.
CRCL experienced a dramatic decline from its $264 June 2025 peak to approximately $50 in February 2026 — representing an 81% drop — before staging a recovery exceeding 100%. The stock has gained 45.5% year-to-date and closed Monday’s session at $123.98.
Other Wall Street analysts maintain positive outlooks. Bernstein SocGen confirmed its Outperform rating, while Mizuho Securities lifted its price target to $120, highlighting that USDC transaction volume had exceeded competing stablecoin USDT for the first time since 2018.
Crypto World
Pi Coin price outlook as Pi Network marks the seventh anniversary
- Pi Network marks its seventh year with ecosystem upgrades.
- Pi Coin holds support near $0.19 while testing the $0.20 resistance level.
- A break above $0.2588 may open the path toward $0.34 and $0.40.
The seventh anniversary of Pi Network has drawn fresh attention to the project.
The anniversary celebration, often referred to as Pi Day, has become a yearly checkpoint for the network’s progress, and this year’s event came with new upgrades and growing developer interest that could gradually strengthen the platform.
For many observers, the key question now is whether these developments can translate into sustained momentum for the token.
Ecosystem growth takes centre stage
Pi Network began with a simple idea of allowing people to participate in cryptocurrency mining through a mobile application.
That approach lowered the barrier to entry and helped the network attract a large global community over the years.
The project has continued to emphasise participation and utility rather than speculation.
This year’s anniversary announcement highlighted the expansion of developer tools and infrastructure.
These improvements allow developers to build decentralised applications directly within the Pi ecosystem.
The introduction of smart contract capabilities has been particularly important.
Smart contracts enable developers to create decentralised services such as financial tools, digital marketplaces, and blockchain-based games.
Such features are considered essential for any blockchain that aims to build a real digital economy.
The network has also been working on migrating more users to the mainnet.
This process is intended to move previously mined tokens into the live blockchain environment.
A broader migration increases real network activity and prepares the platform for wider adoption.
Furthermore, community engagement remains one of Pi Network’s defining characteristics.
The project has regularly introduced initiatives that recognise long-time participants and encourage new users to complete identity verification.
These efforts strengthen the ecosystem by ensuring that users are real individuals rather than automated accounts.
In the long run, a verified user base could make the platform more attractive to developers and businesses.
Pi Coin price analysis
Pi Coin has experienced noticeable price fluctuations in recent weeks.
The token previously rallied toward the $0.29 region before cooling down and settling near the $0.20 area.
Such pullbacks are common in the cryptocurrency market after periods of rapid gains.
Short-term movements have also been influenced by broader market sentiment.
In particular, the performance of Bitcoin (BTC) continues to play a major role in shaping momentum across the digital asset sector.
When Bitcoin strengthens, smaller cryptocurrencies often benefit from the same wave of investor interest, and when it weakens, those assets may face additional pressure.
Despite the recent pullback, analysts describe the current sentiment around Pi Coin as cautiously optimistic.
The price has managed to hold above several support levels even after a week of decline, suggesting that buyers are still willing to step in at lower prices.
However, the market has not yet produced a strong catalyst that could trigger a sustained rally.
Pi Network price forecast
For now, the short-term outlook can be described as neutral to slightly bullish.
Technical analysis highlights several price levels that traders are watching closely.
In the short term, the area near $0.19 has acted as an important support zone.
If the price holds above this level, the market could maintain its current stability.
A stronger support level sits around $0.1588, which previously served as a floor during recent price swings.
On the upside, resistance remains close to the $0.20 region.
A decisive move above this level could allow Pi Coin to test the next target around $0.21.
Beyond that point, a larger resistance area is located near $0.2588.
Historical price behaviour shows that a break above this zone has often been followed by stronger upward momentum.
If such a breakout occurs, the next resistance could appear near $0.3426.
Another major barrier stands around $0.4077, where profit-taking could emerge if the rally continues.
Crypto World
World Liberty Financial Passes Proposal Offering Team Access for Top Stakers
The Trump family-backed protocol’s “Super Node” tier promises partnership discussions with the WLFI team.
World Liberty Financial, the decentralized finance (DeFi) project affiliated with President Trump’s family, has passed a governance proposal that offers investors who lock up 50M WLFI tokens “direct WLFI team access,” raising fresh ethics questions about the intersection of the Trump family’s crypto business and the White House.
The vote by holders of World Liberty tokens closed Thursday with 99% of ballots in favor and 1,786 votes cast, according to Snapshot data.
The WLFI token is up 7% over the past week, according to Coingecko.
$5 Million for a Seat at the Table
The proposal creates a tiered staking system that requires WLFI holders to lock their tokens for 180 days to retain governance voting rights. At the top tier, users staking 50 million WLFI, worth roughly $5 million at current prices, are promised “guaranteed direct access to the WLFI team for partnership discussions,” according to the original proposal.

After Reuters reported on the arrangement, WLFI spokesman David Wachsman sought to narrow the scope of the offer. He characterized it as “preferential access” to the business development team and executives, not to specific founders, and said that becoming a Super Node does not guarantee a partnership.
Two-thirds of the voting power came from just five wallets. While the majority of responses on the governance forum supported the proposal, some community members questioned the project’s lack of transparency around the release of locked tokens from the initial sale.
Meanwhile, World Liberty is currently seeking approval for a U.S. banking license, a process that has drawn scrutiny from ethics experts and congressional opponents.
Crypto World
BlackRock Launches ETHB ETF With Ethereum Staking Rewards
BlackRock has expanded its Ethereum strategy through a new exchange-traded fund that integrates staking rewards. The product directs most of its ether holdings to professional validators rather than idle custody. This structure introduces institutional staking through a regulated ETF framework.
BlackRock routes Ethereum staking through external validator operators
BlackRock launched the iShares Staked Ethereum Trust ETF under the ticker ETHB on Nasdaq. The fund combines direct ether exposure with staking income generated through network validation. Consequently, the structure allows regulated market participants to earn Ethereum rewards through a traditional financial product.
ETHB allocates roughly 70% to 95% of its ether holdings to staking infrastructure. The fund delegates validation work to specialist operators instead of building in-house systems. This approach reduces operational complexity while maintaining exposure to the Ethereum proof-of-stake mechanism.
Figment operates part of the validator network used by ETHB. Meanwhile, Galaxy Digital and Attestant run additional validation nodes. Together, these firms process transactions, propose blocks, and submit attestations for the ETF’s staked ether.
Validator operators maintain the Ethereum network security and confirm blocks on behalf of the trust. In return, the network distributes staking rewards generated through proof-of-stake participation. The ETF then distributes most of those rewards back to shareholders.
ETHB introduces yield generation inside a regulated ETF structure
ETHB launched with initial assets estimated between $100 million and $107 million. The ETF also recorded about $15.5 million in trading volume on its first trading day. These early figures indicate measurable demand for yield-bearing Ethereum exposure through regulated financial vehicles.
Under normal conditions, the fund stakes most of its ether holdings to generate network rewards. The trust returns approximately 82% of gross staking income to shareholders. Meanwhile, the remaining portion supports operational costs and partner compensation.
BlackRock set the management fee at 0.25% for the ETF. However, the firm temporarily reduced the fee to 0.12% on the first $2.5 billion in assets. This discount remains active during the product’s first year and aims to attract inflows from competing crypto products.
The fee strategy positions ETHB against existing spot Ethereum ETFs that do not provide staking rewards. By integrating yield generation, the product offers an additional return component alongside price exposure. Consequently, the structure could reshape competition among digital asset exchange-traded funds.
Ethereum network participation grows alongside institutional products
The staking model used by ETHB connects institutional capital with Ethereum’s validation economy. Professional node operators maintain the infrastructure while the ETF supplies locked ether liquidity. This structure expands participation in Ethereum’s proof-of-stake security system.
Ethereum traded near $2,201 during the period surrounding the ETF’s introduction. The price showed a daily gain of about 6.8% amid active market trading. During the same period, the asset ranged between roughly $2,041 and slightly above $2,200.
Daily trading volume approached $27.7 billion across major exchanges. Strong activity coincided with record levels of ether already locked in staking contracts. Institutional products that stake assets could strengthen this supply trend.
Large funds that lock ether for validation reduce the amount available for immediate trading. That dynamic can tighten the circulating supply within the broader market structure. At the same time, regulated ETFs provide familiar access channels for institutions seeking blockchain exposure.
Crypto World
‘Stop Shorting Bitcoin,’ One Analyst Says as Fresh Price Targets Emerge
Further pump or crash to $40K: what’s next for BTC?
Bitcoin (BTC) surpassed $74,000 briefly earlier today, reaching its highest point since the start of February.
Some analysts are optimistic that a more substantial move to the upside could be forming, especially if the asset breaks above key resistance levels.
‘Stop Shorting BTC’
The primary cryptocurrency started the business week on the right foot, with its valuation surging to almost $74,400 (per CoinGecko’s data) following Donald Trump’s latest remarks regarding the war in Iran. The US President threatened to send troops to Kharg Island and urged America’s NATO allies to form a coalition to reopen the Strait of Hormuz by deploying military ships in the area.
Meanwhile, spot BTC ETFs have attracted hundreds of millions of dollars in inflows over the past several days, a factor that could also have contributed to the asset’s recent price strength.
According to the popular analyst Ali Martinez, a more significant rally could be on the way. In a recent post on X, he claimed that BTC might be forming a local bottom that often comes before a big move north. Martinez noted that Bitcoin’s funding rates have recently flipped negative: a development that has preceded “every major relief rally” in the last four years.
The most recent example dates back to May 2025, when BTC was trading near $95,000. Once funding rates turned negative, the market quickly shifted, and the asset climbed to a historical peak of over $126,000 within months, the analyst reminded.
Besides that, Martinez pointed out that more than 33,000 BTC have been withdrawn from exchanges in the past week. CryptoQuant’s data shows that just a few days ago, the amount of coins stored on such platforms dipped to a six-year low of approximately 2.73 million. This is considered a bullish factor because it reduces immediate selling pressure.
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Other analysts on X also think BTC could chart further gains in the near future. Ted, for instance, described the $72,000-$74,000 range as “strong resistance zone,” predicting that a decisive break above it could open the door for an uptrend to as high as $78,000.
Still on Uncertain Ground
Analysts like Leshka.eth remain somewhat cautious about BTC’s short-term prospects. The X user argued that the price is slowly grinding higher within a descending channel toward the $76,000-$80,000 region, warning that a rejection here could trigger a painful crash to as low as $40K.
The analyst who goes by the moniker Klarck also envisioned a potential pullback. They foresaw a bull trap at around $74,000, a “liquidity grab” at $65,000, $62,500, and $60,000, and an eventual plunge to new lows.
BTC’s Relative Strength Index (RSI) is one technical indicator suggesting a price plunge could be imminent. The ratio has surpassed 70, meaning the price has pumped too much in a short period and could be due for a pullback. In contrast, readings under 30 suggest the asset is oversold and on the verge of a potential rally.
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Inside the infrastructure. How Skywinex powers its web3 investment platform
Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.
Skywinex highlights an infrastructure-driven model as web3 platforms prioritize automation and system control.
Summary
- Skywinex builds infrastructure combining smart contracts with dedicated server systems.
- Skywinex uses blockchain smart contracts to automate deposits, fund allocation, and earnings distribution.
- The platform runs trading bots on dedicated servers designed for continuous 24/7 execution.
As web3 platforms evolve, infrastructure is becoming just as important as product design. Beyond user interfaces and token mechanics, long-term viability increasingly depends on architecture, automation, and system control.
Skywinex, a web3 investment platform built on smart contracts, positions its technical infrastructure as the core of its model. Rather than relying solely on third-party services, the company combines on-chain logic with dedicated server systems designed for continuous automated operation.
Smart contract as the control layer
At the center of the Skywinex ecosystem is a smart contract deployed on the blockchain. This contract governs the key operational processes of the platform, including:
- Acceptance of user deposits
- Allocation of funds to trading modules
- Calculation of daily returns
- Distribution of earnings
Because smart contracts execute predefined logic and cannot be altered retroactively, the structure ensures consistency in how transactions are processed. Users interact directly with the smart contract by connecting their crypto wallets. No traditional registration or personal data submission is required. Authorization occurs through blockchain interaction rather than centralized account systems. This approach shifts the operational trust model from internal management to code execution.
Dedicated server infrastructure
While the smart contract handles on-chain logic, trading execution takes place off-chain within Skywinex’s server infrastructure. The company operates its own dedicated server farm where trading bots run continuously. These are not temporary cloud instances but configured servers designed for uninterrupted, 24/7 performance.
According to Skywinex, this decision was intentional. “We believe infrastructure defines reliability,” says Richard Lennox, CEO of Skywinex. “Automation only works when the technical foundation is stable. That’s why we built a system where both blockchain logic and physical infrastructure operate in sync.”
The server layer is responsible for:
- Real-time market data analysis
- Processing large volumes of exchange data
- Executing algorithmic trading strategies
- Returning results to the smart contract
By maintaining control over the execution environment, the company aims to optimize latency, stability, and operational consistency.
Modular trading architecture
Each trading bot functions as an independent software module. This modular structure allows:
- Separate strategy deployment
- Independent performance tracking
- Scalable infrastructure expansion
Bots operate according to predefined algorithms. Once a trading cycle is completed, generated results are transmitted back to the smart contract, which performs automated calculations and credits user balances.
The separation between on-chain control and off-chain execution creates a dual-layer architecture:
- Blockchain layer for transparency and settlement
- Server layer for speed and data processing
User perspective: Simplicity over complexity
Despite the technical depth behind the system, user interaction remains minimal. From the investor’s perspective, the process consists of:
- Connecting a crypto wallet
- Selecting a trading bot
- Signing a transaction
All complex infrastructure processes operate in the background. Users do not interact with servers directly and do not manage trading execution manually. Every transaction, however, remains visible on-chain.
Infrastructure as a competitive factor
As algorithmic trading and web3 finance expand, infrastructure design may become a defining factor in platform sustainability. By combining smart contract governance with dedicated server operations, Skywinex represents a hybrid approach to automated investing, one that integrates blockchain transparency with controlled execution environments.
Whether this architectural model becomes standard in the web3 investment space remains to be seen. However, the emphasis on infrastructure suggests a broader industry shift toward systems built around automation, verification, and operational resilience.
For more information, visit the official website, Telegram, or X.
Disclosure: This content is provided by a third party. Neither crypto.news nor the author of this article endorses any product mentioned on this page. Users should conduct their own research before taking any action related to the company.
Crypto World
Abra to Go Public in $750M Nasdaq SPAC Merger Deal
TLDR
- Abra will go public through a $750 million merger with New Providence Acquisition Corp. III.
- The combined company will trade on Nasdaq under the ticker symbol ABRX.
- The transaction sets Abra’s pre-money valuation at $750 million.
- Existing investors will roll their shares into the new public entity.
- The deal may provide up to $300 million in cash held in trust.
Abra will enter public markets through a merger with New Providence Acquisition Corp. III. The deal values the company at $750 million before new capital. The combined entity will trade on Nasdaq under the ticker ABRX.
Abra to Merge With SPAC at $750 Million Valuation
Abra signed a definitive agreement with New Providence Acquisition Corp. III to complete a reverse merger. The transaction sets a pre-money equity valuation of $750 million. After closing, the combined company will operate as Abra Financial. It expects to list on Nasdaq under the ticker ABRX.
The deal allows existing investors to roll their shares into the public company. These investors include Pantera Capital, Blockchain Capital, RRE Ventures, Adams Street, and SBI. They will not cash out during the merger process. The transaction may provide up to $300 million in cash held in trust. Abra plans to use the proceeds for growth, sales, marketing, and operations.
Abra Financial will offer SEC-registered investment advisory services and a digital asset wealth platform. The company will target institutional clients, high-net-worth individuals, and registered investment advisers. Its services will include custody, segregated accounts, trading, yield strategies, and crypto-backed loans. It will also provide treasury management solutions for clients.
CEO Bill Barhydt said the firm will focus on regulated, on-chain crypto wealth management. He stated, “We aim to provide regulated, on-chain crypto wealth management as digital assets become central to finance.” Abra targets $10 billion in assets under management by the end of 2027. The company expects the merger to strengthen its capital base and support expansion plans.
Abra operates through Abra Capital Management LP, which is registered with the US Securities and Exchange Commission. This registration allows the firm to provide portfolio management services. The company founded operations in 2014 under Barhydt’s leadership. It serves institutions, family offices, and high-net-worth investors.
In 2024, Abra settled with regulators in 25 US states over its Abra Earn product. The company agreed to return assets to investors and wind down the program for US clients. After the settlement, it shifted focus toward institutional and wealth management services.
Crypto Firms Pursue Public Listings Through SPACs and IPOs
Abra joins other digital asset firms seeking access to public markets. SPAC transactions have regained traction for crypto companies in the past year. Jessica Groza, partner at Kohrman Jackson & Krantz, commented on the structure. She said, “While this model offers rapid liquidity and valuation flexibility, it also carries risks such as volatility and regulatory uncertainty.”
Several crypto firms chose traditional IPO routes in 2025. Stablecoin issuer Circle Internet Group listed on the New York Stock Exchange in June 2025. Crypto exchange Gemini debuted on Nasdaq later that year. Figure Technologies and Bullish also completed public listings through IPOs.
Other firms continue to evaluate public offerings. Hardware wallet maker Ledger and institutional custodian Copper have explored potential listings. Abra confirmed that it expects its shares to trade on Nasdaq under ABRX after the merger closes.
Crypto World
Oil, SOFR and a $10m trade just rewrote your crypto macro
A $10m SOFR options win on “higher for longer” rates shows where real money is made upstream of crypto, as oil‑driven inflation forces markets to kill early Fed cuts.
Summary
- A trader reportedly made about $10 million this month on SOFR‑linked options initiated in January, effectively shorting the market’s dovish Fed path.
- Surging oil and Middle East risk have revived inflation fears, pushing yields higher, slashing odds of near‑term cuts, and revaluing the entire front‑end rates surface.
- Slower, shallower easing supports the dollar and front‑end yields, choking risk appetite for duration trades from long‑dated tech to high‑beta altcoins and DeFi.
Macro just handed one trader the kind of P&L most crypto desks pretend they’re running. A short‑term interest‑rate options position tied to the Federal Reserve’s policy path has reportedly booked around 10 million dollars in profit this month, as surging oil prices forced markets to reprice the timing and depth of U.S. rate cuts.
According to Jinshi News, the bet was initiated in January using options linked to the secured overnight financing rate (SOFR), the key benchmark closely tracking the Fed funds corridor. At entry, the trade was effectively a leveraged expression that the market was too dovish on how quickly the Fed would ease. That thesis has snapped into focus over the past two weeks as Middle East tensions pushed crude to its highest levels since 2022, reviving inflation concerns and killing off hopes of early, aggressive cuts.
The mechanical impact is brutal but simple: higher oil feeds into inflation expectations, which pushes Treasury yields and SOFR‑linked rates higher, revaluing the entire options surface. As traders slashed the implied probability of near‑term cuts and shifted toward a “higher for longer” path, payoffs on structures positioned for stickier policy—payer swaptions, call spreads, and similar rate‑hike or no‑cut expressions—exploded in value. That repricing is what generated the roughly 10 million dollars in profit on the January position.
For crypto, this is not some distant TradFi side plot. A slower, shallower cutting cycle supports the dollar and front‑end yields, which traditionally caps risk appetite for duration‑heavy trades, from long‑dated tech to high‑beta altcoins. You can see the same mechanism in 2020–2022: every shift in the Fed dots and real‑yield curve bled straight into crypto’s funding rates, basis trades, and eventually spot flows as ETF and macro funds adjusted risk.
The signal here is clear: serious money is being made upstream of crypto, in the rate complex that sets the discount rate for every “growth” story on‑chain. If you are still treating Fed meetings and oil as background noise, you are already the liquidity for someone else’s SOFR trade.
Crypto World
Ethereum Rallies Toward $2,300 Despite $800M Whale Exodus
If ETH continues to climb, the next major resistance is expected at $2,450, said one analyst.
On March 16, Ethereum (ETH) climbed to almost $2,300 for the first time since early February, posting an 8% gain in 24 hours.
This happened even as large holders kept offloading hundreds of millions of dollars worth of the token, as a broader crypto rally appeared to defy ongoing geopolitical tensions that have pulled traditional markets apart.
Whales Sell Into the Rally
Despite the uptick, there hasn’t been the kind of investor confidence that usually comes before a sustained breakout. Data shared by analyst Wise Crypto showed that in the last seven days, big ETH holders sold 380,000 ETH worth about $800 million. They suggested that a lot of those sellers were treating the short-term price spikes as a chance to get out, which could slow further upward movement.
Based on their analysis, Ethereum is currently trading between $1,917 and $2,338, which are its support and resistance levels, respectively. Wise Crypto projected that if the price goes below the lower boundary, ETH could drop to just above $1,700. However, if the asset stays above resistance for a while, it could test levels close to $2,450.
The analyst also noted that the Market Value to Realized Value (MVRV) Long/Short Difference for ETH is very negative, which means that long-term holders may be losing money while short-term traders are making money. The MVRV ratio compares the current price of ETH to the average price at which all coins last moved, giving a rough idea of how much unrealized profit or loss there is among holders.
When short-term holders make most of the money, like they seem to be doing right now, selling pressure usually follows quickly.
Even with the mixed signals, ETH was up 13% over seven days at the time of this writing, moving well above $2,200. The jump happened during a larger rise in the crypto market, which also, for a short period, pushed Bitcoin (BTC) above $74,000, to hit its highest level in about six weeks, following a U.S. attack on Iran’s Kharg Island, which exports 90% of the country’s oil shipments.
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Futures Markets Dominate ETH Trading
Elsewhere, data from analyst Darkfost shows that even though ETH has recovered in the spot market, derivatives activity points to short-term trading still dominating the asset’s market structure.
The on-chain technician reported on Sunday that the volume of Ethereum futures trading on Binance is now more than six times greater than the volume of spot trading, with the ratio between them falling to its lowest level since the tail end of the 2023 bear market.
When futures trading is much more active than spot trading, it usually means that the market is driven by leveraged positions instead of steady accumulation.
“This reflects genuine weakness in Ethereum’s spot market at the moment,” Darkfost wrote. “It is possible that sales from the Ethereum Foundation or even Vitalik Buterin are contributing to investor caution.”
Still, not everyone thinks that ETH will stay in a range, as, according to crypto commentator Ash Crypto, a daily close above $2,400 could lead to a move toward $2,800.
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US, UK, and Canada launch ‘Operation Atlantic’ to tackle crypto fraud
The US, UK, and Canada have today launched a new joint initiative aimed at raising awareness of crypto fraud while simultaneously tackling crypto-related organized crime.
Known as “Operation Atlantic,” the initiative will see the US Secret Service (USSS), the UK’s National Crime Agency (NCA), and Canada’s Ontario Provincial Police contact victims, and potential victims, of crypto fraud and advise them on how to keep their crypto assets safe.
A USSS spokesperson told Protos that the operation will last a week, and that the agencies are working alongside “private industry partners” to identify and contact victims of approval phishing.
They added, “Law enforcement personnel will then provide advice and instructions on how to secure their assets to prevent further losses. Additionally, teams will work to trace and seize stolen funds with the goal of victim restitution.”
Read more: How to stay safe on-chain: Three crypto users lose $876K within hours
One particular crypto scam known as “approval phishing” is highlighted in the initiative. This involves a victim signing off on a fake wallet approval request that gives hackers access to their funds.
Some scammers have drained over $600,000 worth of crypto assets through approval phishing. Last year, one of “the largest supply chain attack[s] in history” used approval phishing to redirect funds to a hacker’s account.
This case, despite its scale, only drained $0.05.
The USSS deputy assistant director for the office of field operations claims, “Approval phishing and investment scams cost victims millions in financial loss each year.”
They also claim that Operation Atlantic “will identify and disrupt these scams in near real-time denying criminals the ability to further profit from their crimes.”
Recognising that scammers often impersonate trusted bodies, the NCA and USSS have created a dedicated phone number and webpage to make it easier for callers to verify legitimacy.
Operation Atlantic was inspired by a 2024 Canadian-led program called “Project Atlas.” In this case, $70 million in funds was reportedly kept from scammers while $24 million in stolen funds were frozen.
One crypto fraud body disbands, another takes its place
Last year, the Trump administration disbanded the Justice Department’s crypto enforcement agency in line with an executive order. The agency was created to tackle “complex investigations and prosecutions of criminal misuses of cryptocurrency.”
Since then, the scale of crypto scams orchestrated by criminal gangs in South Asia has been scrutinized by the US and China, and led to the creation of the US “Scam Center Strike Force.”
This body, which aims to bring scam leaders to justice, partnered with social media giant Meta to help take down 150,000 Facebook accounts. The joint operation with Thai authorities led to the arrest of 21 people.
Thailand’s neighbour, Cambodia, has also led a widespread crackdown against crypto scam compounds that reportedly led to the deportation of 48,000 people detained from raids.
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Crypto World
Ripple Makes Major Move Affecting US and Canadian Customers: Details
Ripple’s new partner praised it for its infrastructure.
In a statement called “real-time cross-border payouts into the US and Canada,” i-payout, which is a global payments platform enabling businesses to deliver fast, compliant payouts to workers, merchants, and partners, said it has tapped Ripple Payments to enhance its platform.
The main goal of the collaboration is to “enable fast, transparent cross-border payouts” into the two North American markets, while “reducing settlement delays and minimizing working capital requirements for global platforms.”
Integrating Ripple Payments will allow i-payout to leverage “enterprise-grade digital asset infrastructure to accelerate settlement, improve payment transparency, and support high-volume cross-border payout flows.”
“The digital marketplace is important to the future, and Ripple is the right partner to take us there.” — Eddie Gonzalez, President, i-payout
Ripple Payments helps i-payout deliver real-time payouts into the U.S. & Canada, from days to seconds. 🌎
See how →… pic.twitter.com/WWNmJc9utQ
— Ripple (@Ripple) March 16, 2026
The company was founded almost two decades ago, and it operates as an API-first payout platform. The statement reads that before tapping Ripple, cross-border payments into North America could take days to be completed, which ties up working capital and limits how quickly platforms could deliver funds to users.
Last week, the company behind the popular XRP token outlined plans to secure an Australian Financial Services License, which would allow it to expand its payments offering further in the country to financial institutions, fintech businesses, and enterprises.
Separately, Ripple also began a share buyback program to repurchase up to $750 million in shares from employees and investors. According to Bloomberg, this would put its valuation at a whopping $50 billion.
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