Stablecoins have become the dominant rail for USD-denominated spot crypto trading, making up 83.03% of volume in late-March 2026. Fiat USD pairs accounted for 16.97% on centralized exchanges, a drop from 2021 when stablecoins held 77.75% and fiat pairs 22.25%. The shift reflects stablecoins' growing role in liquidity and settlement across both centralized markets and DeFi.

Ethereum has rebounded above $2,100 even as the Coinbase Premium Index remains in negative territory. The indicator sat at -0.0149 over the past day, suggesting ETH traded at a discount on Coinbase versus Binance and implying comparatively weaker buying demand from Coinbase users. ETH was around $2,160 at the time of writing, down 7% over the past week.

Bitcoin (BTC) was trading around $71,000 at the time of writing, staying relatively steady despite escalating geopolitical tensions tied to the U.S., Israel, Gulf states, and Iran. The article argues that a resurfacing Bitcoin–gasoline “fractal,” alongside a $470 billion weekly drop in global M2 and stablecoin supply hitting $316.9 billion, points to cautious liquidity conditions that could keep pressure on BTC.

Bitcoin retested $67,500 support on Monday as investors shifted toward cash while gold logged its steepest correction in more than 50 years. US 5-year Treasury yields rose to 4.10% and oil moved above $90, as futures pricing showed a 20.5% chance of a July rate hike. The risk-off backdrop also weighed on tech stocks, with several major names down 10% or more over the past six weeks.

Strategy is positioning its Bitcoin strategy around supply scarcity, after outlining a combined $42 billion funding plan for future BTC purchases. The firm recently added 1,031 BTC, taking holdings to 762,099 BTC (about 3.81% of total supply), as analysts debate whether sustained demand and tighter exchange reserves could intensify a supply squeeze.

Circle minted $500 million USDC on Solana in the past 24 hours, adding fresh stablecoin liquidity as traders increased buying across crypto assets. After the mint, USDC supply on Solana rose 0.14% and topped $8 billion, while USDC's total circulating supply stood near $78.65 billion. The move coincided with a broader market rebound, with CRCL and SOL showing signs of recovery.

On March 23, U.S. President Donald Trump said progress in secret talks led him to declare a five-day pause on any action targeting Iran’s infrastructure, pushing oil from about $113 down to near $100. Crypto prices turned higher as total market value rose around 3.4% to roughly $2.43 trillion, while Bitcoin rebounded to about $70,800 after dipping near $67,000.

Irish authorities have accessed a dormant wallet holding 500 BTC, worth about $32 million (€30 million), marking the first successful unlock in a 6,000 BTC stash forfeited to the state in a 2019 case. The breakthrough, reported Tuesday, followed seven years of inaccessibility tied to missing private keys and was supported by Europol’s European Cybercrime Centre. Investigators now aim to apply the same method to the remaining 11 wallets.