On-Chain Data

Pi Network's price fell approximately 37% this week, failing to break through the key resistance level of $0.20. Supply-side pressure has increased, including large-scale token unlocks and rising exchange reserves, while weak demand is reflected in declining trading volume. In the short term, technical indicators lean bearish, with $0.17 as the key support level for bulls; a break below could lead to further downside toward $0.15. Overall market sentiment is influenced by geopolitical factors, and any rebound will require volume support.

CryptoQuant data shows that over the past 30 days, Strategy has accumulated approximately 45,000 BTC in purchases, while other companies have only purchased around 1,000 BTC, a decline of approximately 99%. Strategy holds 76% of corporate bitcoin reserves, indicating a lack of enterprise-level BTC demand in the market and an imbalanced institutional participation landscape.

Recently, Brent crude oil prices have declined while gold continues to rise, displaying stagflationary market characteristics. Bitcoin's price movement has gradually decoupled from oil and shifted toward tracking gold, reflecting institutional investors' view of it as a hedge asset. The Federal Reserve's high interest rate policy has intensified market concerns about inflation and economic growth slowdown. This phenomenon is historically closely associated with major macroeconomic shifts.

March 26, 2026, Bitcoin (BTC) stabilized on $71,000 support, Ethereum (ETH) reported at $2,165, both showing continuous positive returns over the past 30 days. The U.S. CLARITY Act stablecoin compromise plan is progressing, with regulatory policies set to impact the DeFi ecosystem. The SEC announced Bitcoin and Ethereum as commodities, ushering in a new ETF era. DeFi platform Balancer announced closure due to a vulnerability, sparking discussions on governance structures. In the global macroeconomic environment, the Federal Reserve maintained interest rates unchanged amid rising oil prices, facing challenges in rate cuts.

Research shows that DeFi will generate approximately $8 billion in on-chain revenue in 2025, primarily driven by AMM trading fees and lending interest. Platforms like Uniswap and Aave command significant market share, but untapped revenue opportunities remain underdeveloped.

Gate News report: On March 26, according to on-chain analyst Remnant's monitoring, Sky Treasury company SDEV currently holds approximately 2.135 billion SKY tokens across 7 on-chain wallets, with a market value of approximately $156 million. This includes staking rewards of approximately 31.6 million tokens (approximately $2.31 million), with an average purchase cost of approximately $0.065 per token. On March 25, SDEV withdrew 184 million SKY tokens (approximately $14 million) from a certain CEX to the chain.

Gate News Report: On March 26, according to monitoring by on-chain data analysis platform Onchain Lens, the Trump Meme coin project team has transferred 6.97 million TRUMP tokens (valued at approximately $23.18 million) into a BitGo custody wallet. It is understood that this move is consistent with the previous pattern of depositing coins into centralized exchanges.

Recently, six wallets on Polymarket precisely built positions before the U.S. attack on Iran and profited $1.2 million, then continued betting on Iranian nuclear facilities, and later coordinated a $100,000 bet predicting a U.S.-Iran ceasefire. This series of transactions has raised market concerns about information advantages and highlighted a trust crisis in prediction markets. Changes in market participant behavior reflect worries about insider trading, and the conflict between transparency and anonymity makes it difficult to trace responsibility.

Solana's Chief Product Officer stated that the Solana network has processed 15 million on-chain payments from AI agents, with stablecoins becoming the primary settlement tool. The programmable nature of AI payments gives them an advantage in cryptocurrency payments, and it is expected that most crypto transactions will be initiated by large language models in the future.

At the New York Digital Assets Summit, Solana executive Vibhu Norby revealed that the network has processed 15 million on-chain payments from AI agents, with stablecoins serving as the primary settlement tool. The programmable nature of AI payments will revolutionize internet business models, and he predicts that 95% to 99% of crypto transactions in the future will be initiated by large language models.

Gate News: On March 26, according to ZachXBT's disclosure, Circle froze USDC balances in 16 business-related hot wallets on March 25. The relevant entities stated that this action is related to a U.S. civil case with details not yet made public. ZachXBT stated that upon reviewing on-chain data, these addresses are involved in exchanges, gaming platforms, and forex businesses with no apparent connections to each other. The freeze has already impacted the operations of the related businesses.

Gate News reports that on March 26, according to Onchain Lens monitoring, a wallet address (0xA17...7dc9) suspected to be related to Bitmine received 50,000 ETH from institutional trading platform FalconX, valued at approximately $108.37 million based on current prices.

Key Insights Solana processes over 100 million daily transactions and $650 billion in monthly stablecoin volume, outpacing major blockchain networks in activity metrics. Institutional demand strengthens as spot Solana ETFs attract up to $1.5 billion in inflows, with growing participation

A fundamental change is occurring in the world of NFTs as the key metrics used to measure projects or value grow more fluid. Traditionally the value of an NFT has been defined by price and hype, but now value in terms of NFT creations will largely be based on how much they can generate community

Bitcoin has recently been oscillating between $60,000 and $75,000, with reduced selling pressure in the market. Spot ETF inflows have turned positive, indicating a possible market bottom formation. Long-term holders' reluctance to sell is also strengthening price support. However, macroeconomic uncertainty remains, impacting market sentiment.

Bitcoin price continues to remain below $72,000, with weakening market demand as investors begin to sell off positions, limiting short-term upside potential. On-chain activity and mining hash rate are declining, miner profitability is weakening, and market concerns about miner sell-offs are intensifying.

Between 2026-03-25 16:15 to 16:30 (UTC), BTC recorded a +0.90% return within the 15-minute K-line, with a price range of 70829.6 to 71746.1 USDT, reaching an amplitude of 1.29%. The short-term volatility during this period attracted market attention, with active trading driving a slight expansion in transaction fluctuations. Overall market sentiment is neutral to slightly bullish, with attention increasing marginally, but no signs of significant emotional spread were observed. The primary driver of this volatility was large account concentrated operations against the backdrop of exchange liquidity at low levels, producing a significant impact. Whale holders positioned during this window

Key Insights XRP burn rate surged 313% in one day, reaching 2,491 tokens, reflecting strong transaction growth and heightened network demand during the recent rally. Large XRP holders increased, with addresses holding over 100,000 XRP rising to 32,054, signaling continued accumulation

Gate News reports that on March 25, according to Arkham monitoring, approximately 2 hours ago, Grayscale transferred a total of approximately 5550 ETH to a certain CEX Prime address, valued at approximately $12.05 million.