源聚合

Kraken, the US’s second-largest crypto exchange, has reportedly secured access to the Federal Reserve’s (Fed) core payment systems, marking a significant milestone as the first crypto firm to operate on the same infrastructure utilized by thousands of banks and credit unions.

Kraken Scores Major Victory For The Crypto Industry

On Wednesday, Kraken’s banking arm, Kraken Financial, became the first crypto company with direct access to the Federal Reserve’s core payment system after winning the Kansas City Fed’s approval for a Fed master account, the Wall Street Journal (WSJ) first reported.

According to the Wednesday report, the Kraken unit, which holds a special Wyoming state bank charter specifically designed for crypto companies, is not receiving the full range of services available to banks, such as interest payments on reserves held at the central bank.

However, the milestone represents a major victory for the crypto industry, which had been repeatedly denied access to the Fed system for years. The company previously relied on intermediary banks to facilitate transfers to other firms.

The Fed master account approval will allow Kraken Financial to “handle transactions more quickly and seamlessly for big clients and professional traders,” the company told the WSJ. Moreover, it will grant Kraken’s banking unit direct access to Fedwire, a major interbank payment system that processes over $4 trillion in transfers a day.

Arjun Sethi, co-chief executive of Kraken, told the WSJ that the direct access to the Fed’s payment rails “improves reliability and efficiency for moving fiat deposits in and out of digital-asset markets.”

Meanwhile, Kansas City Fed President Jeff Schmid highlighted the payments landscape’s constant evolution in the statement cited by Reuters. “Throughout this transformation, the integrity ​and ​stability of ⁠the U.S. payments system remain our priority,” he affirmed.

Kraken Financial’s master account has been approved for an initial term of one year, the news media outlet reported.

Banks Push Back On Crypto Firm’s Access To Fed’s Rails

The Kraken unit’s limited access to the master account is akin to the “skinny” master account concept first proposed by the Federal Reserve Board of Governors in October 2025.

The proposal would allow payment fintechs and crypto companies to access the Fed’s payment rails, but excludes other benefits that are more aligned with banks, including its discount window lending facility.

This has raised major concerns among traditional banks, which have shared their opposition to granting crypto and fintech companies direct access to the Fed’s payment systems, warning that even limited access could pose a significant threat to the US payments system and overall financial stability.

In a joint letter, the Bank Policy Institute (BPI), The Clearing House Association (TCHPA), and Financial Services Forum (FSF) demanded a 12-month waiting period before firms can apply for payment accounts. The banking groups argued the Fed “should block access until newly licensed stablecoin issuers prove they can operate safely.”

Meanwhile, the American Bankers Association (ABA) asked the Office of the Comptroller of the Currency (OCC) last month to postpone its approval of applications for crypto bank charters, suggesting that the agency should wait until the regulatory uncertainties are resolved.

In December, the OCC approved conditional bank charters for Ripple, Circle, BitGo, Paxos, and Fidelity. The approval raised concerns that it could blur the lines between banking activities and lead to regulatory arbitrage.

The banking lobby raised concerns about the uncertainty surrounding emerging business models, the need for increased transparency in the charter application and decision-making processes, and the absence of finalized federal oversight.

Ultimately, the ABA proposed delaying the review process until Congress completes the rules that will ultimately govern many recent applicants for the OCC’s charter.

XRP has remained under sustained pressure as it struggles to reclaim the $1.50 level, reflecting a broader slowdown in market participation across several major altcoins. In recent weeks, price action has lacked momentum, with rebounds proving short-lived as liquidity conditions remain fragile and investor activity continues to decline. While macro uncertainty and shifting capital flows have weighed on the wider crypto market, on-chain metrics suggest that XRP is also facing a structural contraction in trading activity.

A recent CryptoQuant report highlights this trend through the XRP Binance 30-Day Liquidity Index, a metric designed to evaluate activity levels on the platform relative to circulating supply. The indicator compares the 30-day turnover rate with total supply, offering a clear view of how actively the asset is being traded within the exchange ecosystem.

According to the latest data, the turnover rate has declined to approximately 7.02 billion XRP over the past month. At the same time, the liquidity index has fallen to around 0.097 — a level that sits near historical lows when compared with previous market peaks.

This combination of falling turnover and weakening liquidity signals a notable structural shift in market dynamics, suggesting that participation has cooled significantly even as the price attempts to stabilize near key support levels.

XRP Liquidity Collapse Signals Cooling Market Participation

The report further contextualizes the evolution of XRP liquidity on Binance by highlighting the strong expansion phase observed between 2022 and 2024. During that period, the 30-day liquidity index surged, at times exceeding a reading of 3. This acceleration coincided with a dramatic rise in turnover, with monthly trading volumes approaching 180–240 billion XRP. Such levels reflected an environment of intense activity, where speculative participation and high transaction velocity supported deep liquidity across the platform.

Those conditions began to change during 2025. As the year progressed, the turnover rate started to decline markedly, and the liquidity index slipped below the neutral threshold of 1 before gradually falling toward its current near-zero readings. This contraction signals that trading activity has slowed significantly relative to the available XRP supply held on the exchange.

Structurally, a declining liquidity index does not automatically imply immediate downside pressure on price. Instead, it indicates that the velocity of supply within the platform has decreased. When fewer coins circulate actively in trading flows, the market can enter periods of reduced participation and lower turnover.

However, low-liquidity environments often make price action more sensitive to sudden capital movements. Under these conditions, a resurgence in turnover could rapidly alter XRP’s short-term price dynamics.

Price Struggles Below Key Moving Averages

On the 3-day timeframe, XRP remains locked in a clear corrective structure following the sharp rejection from the $3.30–$3.50 region during the previous cycle peak. The chart shows a persistent sequence of lower highs and lower lows, confirming that momentum has shifted decisively to the downside since mid-2025.

Currently trading near $1.41, XRP is positioned well below the 50-period (blue) and 100-period (green) moving averages, both of which are trending downward. This alignment reflects sustained bearish pressure and signals that medium-term momentum remains weak. The 200-period moving average (red), located around the $1.90–$2.00 zone, has now transitioned into a major resistance level after previously acting as structural support during the earlier stages of the uptrend.

The sharp liquidation wick seen in early February briefly pushed price toward the $1.10 area before buyers stepped in, producing a reactive rebound. However, subsequent price action has lacked follow-through, suggesting that the recovery is corrective rather than the start of a new bullish impulse.

From a structural perspective, the $1.30–$1.35 region now represents immediate support. A breakdown below this zone could expose XRP to further downside toward the psychological $1.00 level. Conversely, reclaiming the $1.80–$2.00 range would be necessary to challenge the broader bearish trend.

Featured image from ChatGPT, chart from TradingView.com 

Coinbase’s chief publicly accused big banks of trying to choke off parts of a law meant to clear the rules for stablecoins and other crypto products. Brian Armstrong said banks were pushing terms that would make the law less useful to crypto firms, a charge that has widened into a political spat that now involves the White House.

Banks And Crypto Firms Clash

US President Donald Trump’s public comments this week stepped into that fight. He used his social feed to complain that banking interests were trying to “kill” the GENIUS Act, and warned that heavy-handed limits could push crypto firms overseas. According to Bloomberg reporting, the dispute centers on so-called yield rules — whether stablecoin holders should be allowed to earn interest and, if so, how banks would be involved.

pic.twitter.com/qu2U5kowhX

— Rapid Response 47 (@RapidResponse47) March 3, 2026

Reports say the stalled negotiations have traced back to a Senate markup that failed to move forward. The chair of the Senate Banking Committee paused consideration after industry pushback and complex bargaining over who gets regulatory control. That delay created space for sharp messaging from both sides: crypto leaders warning of lost competitiveness, and banks pressing for protections they say are needed to limit risk.

Industry Pushback And Stakes

The back-and-forth grew louder after the exchange CEO’s remarks. Coinbase did not retract the claim that banks are seeking to shape rules to their benefit. Reports indicate other crypto companies have voiced similar complaints privately. Banks, for their part, argue they want strong oversight and limits on how digital-asset firms can operate inside the financial system.

Officials said the key sticking point is custody and yield: whether nonbank firms can offer deposit-like returns or whether that activity should remain inside federally regulated banks. Short, clear answers have been hard to find. Negotiators are sorting through technical language that will determine where risk sits and who enforces the rules. That language matters for startups and large firms alike.

Truth Social And Public Pressure

Trump amplified the issue on his platform, drawing public attention and turning a policy squabble into a broader political fight. Truth Social posts framed the banks as obstructionist, and lawmakers on both sides of the aisle picked up the debate in calls and interviews. Reports note the rhetoric is making it harder for negotiators to quietly tweak language without scrutiny.

Bitcoin and other crypto firms have warned that unclear or onerous rules would push talent and capital to other jurisdictions. Officials in the negotiating teams have not released a timetable for action. Data shows regulatory certainty can influence where businesses choose to base key operations, and that factor now seems central to the bargaining.

Featured image from Holmatro, chart from TradingView

South Korean authorities and the ruling party agree on a 20% ownership ceiling for “major shareholders” in crypto and virtual assets exchanges, with a three‑year implementation delay.

From A Strict Proposal To Compromise

After months of friction, the Financial Services Commission (FSC) and the Democratic Party’s digital asset task force have finally converged on a 20% cap for major shareholders, the Korea Herald reports.

South Korea’s 20% cap is the culmination of a long‑running push by FSC, the top financial regulator, to curb founder control at the country’s biggest crypto exchanges. Regulators initially floated a stricter 15–20% range for major shareholders at the leading platforms, a proposal that sparked outrage and fierce opposition from the industry. The backlash was led by the Digital Asset Exchange Alliance (DAXA), a self‑regulatory body representing South Korea’s five major exchanges, including, of course, Upbit and Bithumb.

The Deal Terms

The agreement on a 20% cap and a generous grace period looks like an attempt to find middle ground and defuse tensions. The FSC and the ruling party have endorsed a three‑year grace period to enforce the major shareholder stake restriction, giving Upbit and Bithumb, which together command roughly 90% of the domestic market, some breathing room to start trimming their stakes to meet the new threshold.

Smaller exchanges that do not meet the estimated 20% market‑share bar, such as Coinone, Korbit and GOPAX, will get an even longer runway. South Korean authorities have agreed to grant them an additional three‑year grace period, giving these platforms up to six years in total to prepare for full enforcement of the cap.

Exceptions

The FSC has also carved out narrow exceptions via enforcement decree, allowing stakes of up to 34% only for new businesses, not for existing exchanges. According to The Korea Herald, this threshold appears to mirror the Commercial Act’s 33.3% veto line for general shareholders’ meetings, effectively giving qualified new investors blocking power without restoring full control

The Final Details On The Digital Asset Basic Act

The ruling party’s policy committee is expected to hammer out the final details after a closed‑door meeting with the Financial Services Commission on the morning of the 5th, according to Hankyung. The ownership cap will be folded into a broader Digital Assets Basic Act, an umbrella bill that packages a wide range of crypto policy measures, from stablecoin rules to crypto exchange‑traded funds.

However, the bill’s passage is far from guaranteed. The Korea Herald notes that not only is the opposition party pushing back, but some lawmakers also object to strict limits on major shareholder stakes, casting doubt over whether the cap will clear the National Assembly in its current form.

 

Cover image from ChatGPT, BTCUSD chart from Tradingview

Data shows the Bitcoin Open Interest witnessed its largest daily spike since July 2025 as the cryptocurrency’s price neared the $70,000 mark.

Bitcoin Perpetual Futures Open Interest Shot Up Recently

In a new post on X, on-chain analytics firm Glassnode has highlighted how the Bitcoin Open Interest witnessed a sharp jump recently. The “Open Interest” is an indicator that measures the total number of perpetual futures contracts related to BTC that are currently open on all derivatives platforms.

When the value of this metric rises, it means investors are opening up fresh positions on the market. Such a trend can be a sign that speculative interest in the asset is going up. On the other hand, the indicator registering a decline suggests investors are either pulling back on risk or getting liquidated by their platform.

Now, here is the chart shared by Glassnode that shows the trend in the daily percentage change for the Bitcoin Open Interest over the last year:

As displayed in the above graph, the Bitcoin Open Interest has seen a notably positive daily percentage change recently, indicating that the investors opened up a large amount of positions at once.

This spike, which happens to be the largest since July 2025, came as BTC rallied on Monday to levels close to $70,000. Generally, investors find price surges to be exciting, so it’s not unusual to see an uptick in speculative interest alongside them.

“Leverage expanded as price tested $69.4k,” noted the analytics firm. “This was consistent with speculators betting on a $70k breakout that didn’t materialize.” While the breakout initially failed when the bets appeared, BTC has since picked itself back up.

BTC Breaks $71,000, Shorts Face Mass Liquidations

Following its pullback down toward $66,000, Bitcoin has regained bullish momentum, with its price now hitting the $71,200 mark. The below chart showcases how the cryptocurrency’s trajectory has looked.

The result of this rally has been that derivatives market traders have faced a significant amount of liquidations. As data from CoinGlass shows, more than $210 million in BTC-related contracts have been flushed during the last 24 hours.

Since the liquidations were largely triggered by a price surge, it’s not surprising to see that short contracts made up for most of the liquidations (around $159 million). Ethereum, the second largest cryptocurrency, has also rallied inside this window, but there has been a large gulf between its liquidations and BTC’s, implying the latter is currently the center of market speculation at the moment.

Evernorth CEO Asheesh Birla is laying out an ambitious roadmap for institutional XRP adoption, with crypto analysts predicting that the positive results from this development could fuel a price surge to $100. With plans spanning treasury accumulation, on-chain yield strategies, and a potential Nasdaq listing, Evernorth is positioning itself at the center of what could become a significant shift in how traditional finance interacts with the XRP Ledger.

Evernorth CEO Outlines Vision For XRP

On March 1, crypto analyst X Finance Bull drew attention to a video featuring Birla outlining the treasury company’s plans to build an institutional XRP yield economy. Birla, who spent a decade working within the XRP ecosystem before taking the helm at Evernorth, said the firm is constructing a genuine institutional XRP treasury backed by actual token holdings. These holdings are being deployed into yield strategies across XRPL’s decentralized finance (DeFi) infrastructure. 

Evernorth has also stated its plans to become “active stewards” within the ecosystem by providing institutional liquidity, operating network validators, and bringing new partners onto the ledger. Importantly, X Finance Bull emphasized that this strategy could have significant consequences for the altcoin’s supply dynamics, as institutions that hold tokens for yield rather than trade them would create sustained spot demand that pulls supply out of the open market.  

In the video, Birla shared his vision for a future where institutions are fully prepared to adopt blockchain technology. He described the on-chain economy as a bridge that brings traditional finance onto the blockchain, enhancing efficiency across the system. According to him, this shift could enable greater liquidity, less friction, and expanded global access for market participants. 

Birla also explained that Evernorth makes it easy for institutions to bring capital into the ecosystem. He noted that the firm has built the largest XRP digital asset treasury and plans to integrate the token into yield-bearing instruments, aiming to accelerate growth in the DeFi ecosystem. 

Nasdaq Listing Could Open The Floodgates

Beyond its on-chain ambitions, Evernorth is also making moves in traditional financial markets that could dramatically expand the pool of investors with access to XRP. Birla has revealed plans for Evernorth’s Nasdaq listing, which would allow capital allocators who are unable to hold digital tokens directly to gain exposure to the ecosystem. 

X Finance Bull suggests that regulatory clarity now serves as the catalyst, institutional capital as the fuel, and the Ledger’s DeFi ecosystem as the engine driving the potential repricing of the altcoin. The analyst acknowledged that a $100 price for the token once seemed unimaginable, especially since the cryptocurrency has yet to surpass its 2018 ATH level. Yet, with these new forthcoming developments, he contends that a price target above $100 is no longer out of reach. 

With treasury accumulation, RWA tokenization, and deep yield markets all advancing at once, X Finance Bull argues that the road to $100 for the token is growing shorter with each passing day. 

Blockstream Research says it has deployed post-quantum signature verification on Liquid, marking what it describes as the first time real transactions on a production Bitcoin sidechain have been signed with a post-quantum scheme. For Bitcoin infrastructure, the significance is less about an immediate emergency than about proving that quantum-resistant tools can be tested in live conditions before a crisis forces the issue.

The announcement centers on Simplicity, Blockstream’s smart contract language for Liquid. Rather than waiting for a network-wide consensus upgrade, the team used Simplicity to build a custom spending condition that lets users lock assets to a contract requiring post-quantum signatures for redemption. In practice, that means Liquid users can opt into quantum-focused protection for LBTC and other issued assets, including stablecoins and tokenized securities, without changing Liquid’s base consensus rules.

How Blockstream Tackles Bitcoin Quantum Threat

Blockstream framed that as the key breakthrough. “The traditional approach to adding post-quantum signatures would require consensus changes across the network—a slow, careful process involving all stakeholders,” the research note said. “But Simplicity, Blockstream’s smart contract language on Liquid, offers a different path.”

The verifier is based on SHRINCS, a compact hash-based post-quantum signature design that Blockstream Research says it developed specifically for blockchain environments. The system includes a stateful mode intended for normal use, which produces smaller signatures, and a stateless fallback mode designed for recovery scenarios so users can still access funds even if they lose state. That dual-track design speaks to a practical problem in post-quantum cryptography: theoretical safety is not enough if the system is too cumbersome for real-world wallet behavior.

Just as important, Blockstream says this is not a lab simulation. The team broadcast two live transactions on Liquid mainnet, one using the stateful mode and another using the stateless fallback. Those transactions secured real value, and Blockstream said the approach works not only for bitcoin on Liquid but for any asset issued on the network.

The note also highlighted a more symbolic detail. Because Liquid requires transaction size to scale with computational budget, the team had to fill excess space in the post-quantum transactions. “Rather than padding these transactions with zeros, Blockstream filled the extra space with the Bitcoin whitepaper—a nod to the cypherpunk roots of this work.”

Still, the company was careful not to oversell what has been shipped. “This verifier does not make Liquid fully quantum-resistant,” the post said. “Several critical components remain classically secured,” including the Bitcoin peg, Confidential Assets commitments and Liquid’s blocksigning consensus protocol. In other words, this is a meaningful first building block, not a full-stack answer to a future quantum threat.

That distinction matters for how the development should be read. The research note repeatedly stresses that cryptographically relevant quantum computers do not exist today and may not arrive for years or decades. But it argues that waiting until such machines are close would be a mistake, especially for Bitcoin-like systems whose security assumptions are deeply tied to classical ECDSA and Schnorr signatures.

“What we’ve done on Liquid—building, testing, and deploying post-quantum solutions on production systems—is how we prepare Bitcoin infrastructure for the future,” Blockstream wrote. That may be the clearest takeaway here: not that Bitcoin has solved the quantum problem, but that one credible path is beginning to move from theory into production-grade experimentation.

At press time, BTC traded at $71,130.

The US government shifted seized Bitcoin on Monday just as military strikes on Iran sent crypto markets into a sharp sell-off.

On-chain analytics platform Arkham Intelligence tracked three transfers totaling roughly 1.23 Bitcoin — about $22,550 — from a wallet labeled “Miguel Villanueva Seized Funds” to three separate wallets, receiving $2,500, $16,250, and $3,800 respectively.

Small Transfers, Big Timing

The amounts were modest. But small government crypto transfers like these often precede larger moves, and the timing drew immediate attention from traders already watching the markets closely.

The US government currently holds around $23 billion in seized cryptocurrency, according to Arkham data. No official explanation was issued for the transfers.

Bitcoin had already taken a hit when the transfers were recorded. American and Israeli forces launched strikes on Iran over the weekend, sending the price tumbling roughly 3% within hours to near $63,000 — though it has since recovered sharply, climbing to $71,000 as of press time.

Gold and oil climbed. US equity futures pointed lower. Bitcoin behaved the way it usually does when fear takes over — it sold off alongside other risk assets.

Markets Whipsaw On Khamenei News

Then the situation shifted again. Iranian officials confirmed the death of Supreme Leader Ayatollah Ali Khamenei, and Bitcoin briefly spiked to $68,196 before reversing course and settling near $65,300 — still down about 2%.

Iran fired back at the strikes, launching missiles toward Israel and hitting US military bases in Kuwait, the United Arab Emirates, and Bahrain.

Through all of it, Bitcoin held up better than US stock futures. Funding rates in Bitcoin’s futures markets turned sharply negative during the worst of the selling, a sign traders rushed to open short positions expecting further losses. If the conflict widens and oil prices surge, analysts say a deeper risk-off wave could follow.

Iranian Citizens Rushed To Move Money

On the ground in Iran, ordinary people responded immediately. Nobitex, the country’s largest crypto exchange, saw outflows jump 700% right after the strikes began. Crypto offered one of the few available channels to move money quickly across borders under sanctions.

The convergence of events — a live military conflict, a government Bitcoin transfer, and a dramatic surge in Iranian crypto activity — landed on markets all at once.

Whether the US transfers were routine or something larger is still unclear. Traders are watching the next wallet move just as closely as the next headline from the region.

Featured image from Unsplash, chart from TradingView

Ethereum co-founder, Vitalik Buterin, has issued one of his starkest warnings yet: if the network continues to limit itself to DeFi, obsessing over yields and political meme coins, it will betray Ethereum’s original mission.

Ethereum Beyond DeFi

In a post on social network X on March 3, Buterin shared an essay‑like reflection on how his worries, and the worries of people around him, highlight the fact that Ethereum is not doing enough to be an active force for change amid world‑class threats such as “government control and surveillance, wars, corporate power and surveillance.”

He argues that Ethereum seems largely absent from meaningfully improving the lives of people subject to these forces, even on the dimensions the ecosystem claims to care most about: freedom, privacy, the security of digital life, and community self‑organization. Buterin states:

Ethereum seems to be absent from meaningfully improving the lives of people subject to these things, even on the dimensions we deeply care about (eg. freedom, privacy, security of digital life, community self-organization).

Buterin stresses that his critique is not aimed at DeFi itself. On one hand, he warns against the narrow culture that has grown around it, made of hollow trends that turn politics and real‑world concerns into spectacle through political meme coins and “various zero‑sum gambling applications.”

On the other, he laments that if Ethereum continues to “laser‑focus” on finance, its impact on improving people’s lives will remain minimal, a striking contrast with what he calls “liberating technologies” like Starlink or Signal, which are already reshaping the balance of power in the real world. He acknowledges the importance of financial freedom, but argues that it is no longer enough. Buterin added:

Financial freedom and security is critical. But it seems obvious that, while adding a perfectly free and open and sovereign and debasement-proof financial system would fix some things, but it would leave the bulk of our deep worries about the world unaddressed. It’s okay for individuals to laser-focus on finance, but we need to be part of some greater whole that has things to say about the other problems too.

The Path To Sanctuary Technologies

Understanding that “Ethereum cannot fix the world”, Buterin proposes that what Ethereum should do is to think itself as “being part of an ecosystem building ‘sanctuary technologies’”. This means tools that give people a place to communicate, organize, and hold value where states and corporations cannot easily surveil, censor, or confiscate.

The Goal Is De-Totalization

The ambitious and holistic approach suggested by Buterin seeks one main objective: “to enable interdependence that cannot be weaponized”, the opposite to remaking the world in Ethereum’s shape. Summing up, Buterin states that this interdependence stands on four pillars: finances (ETH, stablecoins, DeFi), communication (encrypted messaging, censorship‑resistant social), coordination (DAOs, crowdfunding, mutual aid) and identity (non‑custodial IDs and reputation). In Buterin words:

Ethereum’s role is to create “digital space” where different entities can cooperate and interact.

When Crypto Becomes Survival Tech

Crypto has already shown what it looks like when blockchains become survival tools rather than trading venues. In places like Venezuela, families use stablecoins and Bitcoin to route remittances around capital controls, protect savings from hyperinflation, and move money when local banks either collapse or become instruments of state control and beyond. Activists and dissidents lean on censorship‑resistant rails to receive support, fund legal defenses, and simply stay connected to a global economy that their governments are trying to cut them off from.

According to an article posted on our sister website NewsBTC, crypto has become a financial lifeline for ordinary Iranian households amidst the political unrest and economic collapse. For ordinary users, crypto remains a lifeline of hope against capital control and inflation.

Whether Ethereum lives up to Vitalik Buterin’s promise will define not just its market cap, but its relevance in a world where financial censorship and digital authoritarianism are no longer hypotheticals.

 

Cover image from ChatGPT, ETHUSD chart from Tradingview

The future of the CLARITY Act — widely referred to as the crypto market structure bill — remains uncertain after the March 1 deadline set by the White House passed without the expected breakthrough between the banking industry and crypto representatives. 

Key Hurdle In Crypto Bill Negotiations

Despite concerns that talks may be stalling, reporting from Crypto In America suggests discussions are continuing behind the scenes. Eleanor Terrett cited a banking industry source with direct knowledge of the negotiations who pushed back on the idea that the process is unraveling. 

According to that source, both sides are still actively reviewing and contributing to draft legislative language and were never strictly bound to the March 1 timeline. “Overindexing on March 1 is a mistake,” the source said.

Still, tensions remain. Another banking source acknowledged that while there is broad agreement in principle that stablecoin balances should not earn interest, disagreements persist over how that principle should be implemented. 

According to this source, crypto companies are attempting to structure alternative mechanisms — such as membership programs, rewards systems, or staking arrangements — that could effectively replicate annual percentage yields (APY) on stablecoin holdings. The source said:

There’s agreement in-principle that stablecoin balances shouldn’t earn interest, but crypto firms are still trying to backdoor APY on balances through membership programs, rewards, and staking. I think that’s what’s holding up the deal right now.

Bank representatives are reportedly pushing for any lending or staking activity to be clearly defined as “active,” “bona fide,” and “time-locked,” meaning returns must be tied strictly to genuine investment performance rather than resembling passive interest. 

Senate Banking Eyes March Markup

On Capitol Hill, attention is turning to procedural milestones. The Senate Banking Committee is reportedly considering potential markup dates in mid-to-late March. 

Such a timeline would give negotiators several additional weeks to address unresolved matters, including decentralized finance (DeFi) provisions and ethics-related concerns, before the bill advances to a possible vote. 

Amanda Tuminelli, executive director of the DeFi Education Fund, said DeFi discussions have recently taken a backseat to the yield dispute but described the broader process as progressing. She further noted: 

I think overall things are moving, and it feels like issues are being closed out, but DeFi has taken a backseat to the yield conversation. We’re waiting for Senate Banking to announce the next markup date and updated text, so I think everyone is anxiously awaiting to see what the next draft looks like.

For now, the path forward hinges on resolving the stablecoin yield dispute and finalizing legislative language that can satisfy enough stakeholders to move ahead. 

Featured image from OpenArt, chart from TradingView.com 

Ethereum saw a brief bounce, which pushed its price above the $2,000 mark, but this upward move seems lost its momentum and has fallen below the level. Amid this, ETH’s price bounce on Tuesday comes a notable spike in the network’s on-chain activity and the creation of new wallet addresses.

Ethereum Activity Spikes to Historic Levels

Even though the broader cryptocurrency market appears highly volatile, Ethereum investors are moving against the current trend and exhibiting renewed bullish sentiment. This renewed euphoria toward the leading altcoin is shown by a sudden wave of fresh investors entering the market each day.

Santiment, a popular market intelligence and on-chain data analytics platform, took to the X platform to share this rise in network activity amid a brief bounce. Ethereum’s price has briefly increased, and a more interesting narrative is now developing beneath the surface.

As ETH attempts to stabilize above the $2,000 level after recent volatility, bulls and bears are currently battling over whether the resistance will be breached in the long run. In the meantime, on-chain data indicates a significant increase in user involvement, which shows a historic spike in the creation of new wallets and total network activity.

Using the 30-day averages, there has been an increase in fresh addresses and network activity on a daily basis. The chart shared by Santiment shows that there are over 837,200 active ETH wallet addresses per day, representing more than 80% rise in comparison to 5 years ago. 

When compared to 10 years ago, this figure marks an over 1,135% spike. The increase in new addresses may indicate new funding, a resurgence of interest, or the reactivation of previously excluded players joining the ecosystem.

In terms of new Ethereum wallet addresses, there have been over 284,800 created per day. This number represents a +64% uptick compared to 5 years ago and a more than 1,967% increase compared to 10 years ago. A steady increase in wallet creation often signals deeper network usage and growing popularity, which may trigger a larger price surge.

A Historic Pattern Unfolding On The ETH Chart

Despite the bearish market conditions, Ethereum is forming a key pattern that would flip the altcoin towards the upside. According to Coinvo Trading, a full-time crypto trader on X, the impending ETH move “is going to shock the entire world.”

After examining the altcoin’s performance on the weekly time frame, Coinvo Trading highlighted that the same Rainbow pattern that occurred in previous cycles before every major ETH rally has returned. When ETH retests the middle of the Rainbow chart, the altcoin usually blows up.

The altcoin is currently retesting the same level after hitting it once more. Should history repeat itself, ETH could be set for one of its most significant rallies. While investors are sitting on the sidelines waiting for a sign of an upswing, the expert stated that this repeating rainbow pattern is the signal they have been anticipating.

Cardano founder Charles Hoskinson is refusing to join the chorus of crypto pessimists. In a recent podcast appearance, Hoskinson delivered a bullish message to a rattled investor base, insisting that the crypto market’s greatest chapter is still unwritten. Although he champions the crypto industry’s bullish future, Hoskinson has not shied away from sounding the alarm on legislation he believes could impede it. 

Hoskinson Says Crypto’s Strongest Era Is Still Ahead

Speaking on Wendy O’s podcast, Hoskinson made his position clear on the crypto industry’s trajectory. In simple terms, Hoskinson noted: “I think our best days are ahead of us as a market.”

Hoskinson’s comment follows the broader thinking among many crypto participants. Many crypto participants and commentators would agree that the industry has not yet reached its peak ppotential andthat higher valuations are still within reach as adoption deepens and infrastructure matures. 

This is not the first time the Cardano founder has pushed back against bearish views, but his latest comments arrive at a particularly sensitive moment for the market, lending them added weight among investors looking for direction.

His optimism, however, is not without caveats on the regulatory front. In a separate X broadcast, Hoskinson described the CLARITY Act as horrific. The crypto market structure bill is advancing through the US Congress, and stakeholders believe it will be passed anytime soon.

However, according to Hoskinson, the CLARITY Act will effectively treat every crypto asset as a security by default and create bureaucratic attack vectors that could allow the SEC to dismantle future American crypto projects. He also flagged the bill’s failure to protect DeFi protocols, prediction markets, and stablecoins, including a provision banning yield on stablecoin balances. 

On the other hand, crypto figures like Ripple CEO Brad Garlinghouse have expressed support for the CLARITY Act, with the premise that imperfect legislation is better than none. 

ADA Under Pressure, But DeFi Growth Is Positive

Hoskinson’s optimism comes within a context of mounting global challenges. The escalating Israel-Iran conflict has led to global risk aversion, and crypto has been no exception. ADA was caught in the selloff, sliding to a low of $0.260, while Bitcoin dropped to $63,500 during the initial selloff. Bitcoin, however, is now back above $70,000 at the time of writing, and ADA is also pushing above $0.27.

Related Reading: What’s The Beef Between Cardano And XRP? Here’s Why The Communities Are Clashing

Interestingly, there are on-chain signals that show Cardano’s ecosystem is quietly gathering strength. The stablecoin to DeFi TVL ratio on Cardano has jumped from around 10% last June to 32% today, roughly tripling in less than a year. In just the past seven days alone, USDCx liquidity pushed Cardano’s stablecoin supply from $33 million to $47 million, a 42% surge.

 That said, a significant portion of Cardano’s DeFi TVL is denominated in ADA itself, meaning the recent price drop has reduced dollar-denominated TVL and mechanically inflated the stablecoin ratio.

XRP has now recorded five consecutive monthly losses, highlighting its sustained weakness since Q4 2025. The cryptocurrency continues to trade sideways amid growing investor caution amid broader market volatility and ongoing geopolitical tensions. Notably, a crypto analyst has pointed out that this marks the second time in XRP’s history that it has posted a five-month negative streak. The last time it happened, the cryptocurrency rebounded with a staggering 4,300% increase. If historical patterns were to repeat, XRP could be setting the stage for a similar breakout.

XRP Repeats Rare 5-Month Red Streak

A new report from crypto analyst @erasurev_v disclosed that the XRP price has officially closed five consecutive months in the red, a pattern that has only appeared once before in the asset’s entire trading history. Sharing the revelation in an X post this week, @erasurev_v pointed out that the first and last time this negative streak occurred, XRP went on to post one of the largest price increases ever recorded in the crypto market.

The previous five-month red streak ran from October 2016 through February 2017, with each month ending on a negative note. Following that sequence, XRP entered three straight green months and climbed 4,300% before the bull run was over. This massive price surge had helped the cryptocurrency propel to its current all-time high above $3.84, which was achieved during the bull rally in 2018. 

Notably, the current five-month negative streak runs from October 2025 through February 2026, matching the earlier period month-for-month. Based on this recurring 5-month streak, @erasurev_v predicts that the altcoin could mirror the same explosive rally that occurred during the 2017 bull run. 

If the pattern plays out the same way, the analyst projects that the price could reach $60 by June 2026, reflecting the same 4,300% price increase from 2017. If this bull run occurs, XRP would close three consecutive months in the green starting in March this year. 

While this outlook may carry some weight, a repeating chart pattern does not guarantee the same result. Market conditions in 2026 differ significantly from those of 2017, particularly in terms of market capitalization, global adoption levels, XRP Spot ETFs, macroeconomic dynamics, and the evolving regulatory landscape. Still, five consecutive red monthly closes on XRP is rare enough that when it happens twice and lines up this perfectly, it tends to get significant attentions 

Monthly Returns From October 2025 To February 2026

According to monthly returns data from CryptoRank, XRP began its 5-month red streak in October 2025, closing the month down 11.9%. The bearish momentum intensified in November, when the token fell another 13.8%, and deepened further in December with a 14.8% decline. 

As the market entered 2026, the cryptocurrency continued to trade sideways, ending the month down 10.6%. The sell-off accelerated in February, with the month recording the sharpest drop of the five-month slide at 16.2%. In total, XRP has lost more than a 26% of its value so far in 2026. 

The XRP downside pressure has intensified, and is now moving beyond its price dynamics into on-chain activity. Following a prolonged period of downward performance, key areas such as Open Interest have heavily turned bearish, experiencing a steady drop over the past few days.

Market Turbulence Triggers XRP Open Interest Meltdown

With the price of XRP struggling with volatility, its derivatives market has sharply flipped into negative territory, reflecting the intensity of the current market condition. A report from Xaif Crypto, a market expert and investor, outlines a massive drop in Open Interest (OI) since the beginning of this year.

The chart shows that XRP has seen a startling 70% decline in open interest across key derivatives platforms due to a violent wave of volatility. In just a few days, a large amount of speculative exposure was wiped out, and investors were forced out of positions in what had been a highly leveraged market.

Over the past 5 months, the multi-exchange open interest fell from $660 million to $203 million. This sharp contraction signals a potential market structure reset in the short term. Within the same period, over $457 million in leverage has been wiped out of the market, accompanied by a drop in the token’s price from $3 to $1.35.

According to Xaif Crypto, this dramatic deleveraging event is not fresh shorts. Rather, it is an indication of liquidations, triggered by forced exits and resets. With this development, XRP is now at a crucial juncture where real demand will drive the next stage rather than leverage. However, it is worth noting that the last time the open interest reached this level of compression, the altcoin experienced a move that led to the formation of a major bottom. Currently, the market lacks leverage and awaits the wave of fresh capital.

Even with the ongoing bearishness of XRP, the token remains one of the best-performing altcoins. This cycle’s altcoin volume during the accumulation phase already surpasses the bottom of the entire previous cycle after experiencing a persistent multiple green walls and yellow trends.

At the forefront of this charge is XRP, and other alts beneath the token are coiling harder than ever. When compared to the last cycle, this is the main event, which could play a role in shaping the next price direction.

Realized Volatility At A Record Level

Following an analysis of the XRP Realized Volatility metric, Xaif Crypto reveals that the altcoin has entered a new phase of turbulence. Data shows that realized volatility is on the rise, surging to its highest level in the past year. In the 30-day indicator, the chart is positioned at level 1.16, demonstrating increased uncertainty and aggressive repositioning by investors in the futures and spot markets.

Historically, these kinds of volatility spikes have preceded big moves upward or downward. However, when the indicator last reached this level, it led to a major price move for the altcoin, which suggests that the recent calm may be over and raises the possibility of a rally in the near future.

Интерес к термину «сезон альткоинов» упал до минимального значения и это может предшествовать настоящему ралли альткоинов, предположили эксперты платформы Santiment.

Crypto analyst Ardi has alluded to Bitcoin’s last cycle to provide insights into when the leading crypto could end its downtrend this time around. This comes as BTC continues to show strength amid the rising tensions between the U.S. and Iran. 

Analyst Points To Bitcoin’s Last Cycle Bottom For When This Downtrend Could End

In an X post, Ardi noted that during the last cycle bottom, it wasn’t just Bitcoin’s price that found a floor, but that the Open Interest was completely wiped out back then. He highlighted how leverage was reset to zero back then, which was when the real bottom accumulation started. The analyst suggested that BTC may again be on its way to finding a bottom, as the market has already flushed a lot of leverage. 

However, he noted that if the last cycle is any guide, the Bitcoin bottom doesn’t form until the speculative excess is almost entirely gone. CoinGlass data shows that leverage in the BTC market remains well above levels recorded at the last cycle’s bottom. Bitcoin’s open interest is currently at $43.86 billion, while the derivatives trading volume is at $87.68 billion. 

Meanwhile, Ardi also commented on the ongoing war between the U.S. and Iran and how it affects Bitcoin. When asked whether his analysis factored in the war for when a bottom could occur, the analyst stated that BTC’s price has already factored in most of that. He added that the worst phase for price is likely over from a war perspective. 

Bitcoin has so far maintained a tight range amid the war between the U.S. and Iran. The leading crypto had climbed to $70,000 earlier in the week but faced significant selling pressure at that psychological price level. 

BTC Could Rally To $80,000 This Month

Crypto analyst Michaël van de Poppe predicted that Bitcoin could rally to between $75,000 and $80,000 this month. The analyst also touched on the current price action, highlighting how it has held above $65,000 and even rallied towards the $70,000 level. He added that BTC is likely to see some days of consolidation before a breakout to the upside likely occurs. This breakout also looks likely, considering that Bitcoin has been establishing this range for a while now. 

A positive for Bitcoin is that the selling pressure may be easing. Glassnode analyst Chris Beamish stated that the long-term holders (LTH) net position change is now easing after months of sustained net selling. This suggests that selling pressure from seasoned holders is moderating as BTC stabilizes. 

At the time of writing, the BTC price is trading at around $67,800, down in the last 24 hours, according to data from CoinMarketCap.

Двухпартийный законопроект, определяющий, когда Федеральной резервной системе США (ФРС) можно разрешить запуск собственной цифровой валюты (CBDC), прошел голосование в американском Сенате. 84 сенатора одобрили законопроект и только шестеро проголосовали против.

Основатель хедж-фонда Bridgewater Associates Рэй Далио (Ray Dalio) заявил в подкасте All-In, что биткоин нельзя считать долгосрочным средством сохранения сбережений и «безопасной гаванью», а также перечислил причины, по которым инвесторам не следует покупать первую криптовалюту.

К 2030 году Австралия станет получать от криптовалют $710 млн ежегодной прибыли, а могла бы $17 млрд (24 млрд австралийских долларов), — если бы в стране занимались развитием токенизированных активов, заявил Объединенный исследовательский центр цифровых финансов (DFCRC).

Инвестиционный директор управляющей криптоактивами компании Bitwise Мэтт Хоуган (Matt Hougan) заявил, что военная операция США и Израиля против Ирана ускорит переход традиционных финансов на блокчейн.