Crypto exchange Coinbase has rolled out crypto-backed USDC loans for users in the United Kingdom, allowing users to borrow USDC against Bitcoin, Ether and Coinbase Wrapped Staked Ether (cbETH). The loans are issued through Morpho, a lending protocol on Base.
According to a Monday announcement, users can borrow up to $5 million in USDC (USDC) with Bitcoin (BTC)-backed loans, depending on how much collateral a user pledges. Coinbase said interest rates are variable and set by Morpho based on market conditions on Base, suggesting that borrowing costs can change frequently.
The exchange said there is no fixed repayment schedule, but borrowers face liquidation risk if the loan-to-value ratio exceeds specific thresholds.
The launch expands a crypto-backed lending service that Coinbase has been rolling out in the US since 2025. On Nov. 21, Coinbase launched the product across US states, except New York, allowing users to borrow up to $1 million in USDC with Ether (ETH) as their collateral.
The expansion also comes amid ongoing regulatory developments in the UK. On Wednesday, the FCA launched a consultation for a future crypto regime expected to take effect in October 2027, covering areas like stablecoins, trading platforms, custody and staking. Until the regime comes fully into force, the UK remains only partially regulated, with rules focusing on financial promotions and Anti-Money Laundering (AML).
The rollout adds lending to Coinbase’s growing UK product stack while extending its effort to route consumer finance activity through onchain infrastructure.
UK expansion adds lending to growing product stack
Coinbase described the UK launch as part of its effort to build a broader financial product suite in the country, following its registration with the Financial Conduct Authority (FCA) in 2025.
The product launch comes as Coinbase has been exploring ways to extend crypto-backed lending into traditional finance use cases.
On March 26, the exchange partnered with Better Home & Finance to allow borrowers to pledge Bitcoin or USDC as collateral for loans used to fund down payments on mortgages.
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Mastercard is integrating stablecoins into its payment infrastructure to modernize the back-end settlement process, allowing banks and issuers to settle card transactions using regulated digital dollars such as SoFiUSD.
The partnership with SoFi Technologies enables SoFi Bank to settle Mastercard transactions in SoFiUSD, while Galileo’s platform allows other banks and fintech issuers to adopt stablecoin settlement.
Stablecoin settlement focuses on the post-transaction clearing stage, meaning consumers will continue using cards normally while the underlying settlement between banks may occur through blockchain-based digital assets.
By leveraging its Multi-Token Network (MTN), Mastercard aims to support multiple forms of tokenized money, including stablecoins, tokenized deposits and digital representations of fiat currencies.
Stablecoins are increasingly moving beyond the crypto niche and into mainstream financial discussions. A prime example is Mastercard’s move to integrate stablecoins into its card payment settlement process. Rather than abandoning the traditional card model, Mastercard is simply upgrading the back-end infrastructure by introducing regulated digital dollars into the mix.
By teaming up with SoFi Technologies, the payments giant is testing how these digital assets can streamline transaction settlements across its massive network. This initiative signals that the world’s largest payment rails are preparing for a future in which traditional banking and digital assets exist side by side.
The SoFiUSD partnership
Mastercard’s recent initiative involves a partnership with SoFi Technologies, which has introduced a dollar-backed stablecoin called SoFiUSD.
Under this arrangement, SoFi Bank, N.A. intends to use SoFiUSD to settle its Mastercard credit and debit card transactions. Meanwhile, SoFi’s payments infrastructure platform, Galileo Financial Technologies, will enable banks and fintech issuers on its network to opt for stablecoin settlement through Mastercard’s system.
SoFiUSD is issued by a nationally chartered US bank and is reported to maintain a 1:1 cash reserve structure, positioning it closer to bank-issued digital money than to a typical crypto-native asset.
Did you know? The first credit card to gain wide acceptance across multiple merchants was launched by Diners Club in 1950. Cardholders originally received paper statements and paid their bills monthly, laying the foundation for today’s global card payment networks.
Understanding card settlement
Mastercard’s approach makes more sense once you understand how card payments usually work. When a consumer taps or swipes their card, the following steps take place:
The payment is authorized.
The transaction is recorded.
The merchant receives confirmation.
The issuing and acquiring banks complete settlement at a later stage.
This final settlement phase traditionally occurs through conventional banking channels during designated clearing windows.
Mastercard’s stablecoin strategy targets this back-end settlement process specifically. It does not change how users experience or initiate payments. From the shopper’s perspective, the payment process would remain unchanged.
How stablecoin settlement would work
Through stablecoin settlement, Mastercard’s network would enable participating banks and issuers to meet transaction obligations using a digital dollar rather than relying solely on traditional fiat transfers.
In practice, the process could unfold as follows:
A customer initiates a card payment in their local currency.
Mastercard determines the settlement obligations between the issuing bank and the acquiring bank.
Instead of relying only on conventional banking channels, one or both parties may settle using stablecoins such as SoFiUSD.
Because stablecoins operate on blockchain infrastructure, they offer the potential for 24/7 settlement independent of traditional banking hours.
This method could reduce delays in cross-border payments and streamline liquidity management for financial institutions.
Did you know? The term “stablecoin” became popular around 2014, but the concept of digital dollars backed by real-world assets had been explored even earlier through experimental crypto projects that attempted to maintain price stability using collateral and algorithmic mechanisms.
The role of Mastercard’s multi-token network
The foundation of this initiative is Mastercard’s Multi-Token Network (MTN). It is designed to support multiple forms of tokenized money, including:
By bridging conventional banking systems with blockchain-based tokens, Mastercard seeks to create a versatile settlement ecosystem in which regulated digital assets can operate alongside traditional financial infrastructure.
The network would enable financial institutions to transfer value more efficiently while continuing to comply with established regulatory standards.
Why Mastercard is entering the stablecoin space
Stablecoins have become one of the fastest-growing parts of the digital asset market in recent years. They combine the price stability of fiat currency with the speed and efficiency of blockchain technology. As a result, they can support fast transfers, programmable payments and near-instant settlement across global networks.
As of March 2026, the stablecoin market had reached a significant milestone, with its total valuation climbing to approximately $314 billion, according to DefiLlama data. This growth followed a breakout year in 2025, during which transaction volumes reached a record $969.9 billion in a single month. Experts now project that monthly volumes are on track to surpass the $1 trillion mark by the end of 2026.
For Mastercard, incorporating stablecoins into its settlement infrastructure helps ensure the company remains central to the changing digital payments ecosystem.
Rather than competing with blockchain systems, Mastercard is positioning itself as a connector between traditional finance and digital asset networks.
Expanding beyond simple payments
The partnership between SoFi and Mastercard also seeks to explore additional financial applications for stablecoins.
Potential uses include:
Cross-border remittances
Business-to-business payments
Treasury management tools
Stablecoin-linked card programs
Stablecoins could allow companies to automate complex financial workflows through programmable transactions.
For example, businesses could automatically release payments when contractual conditions are met, reducing manual intervention and operational costs.
Competition from Visa
Mastercard is not alone among global card networks in exploring stablecoin integration. Its main competitor, Visa, has also expanded its use of digital currencies for payment settlement.
Visa has tested cross-border settlement using stablecoins such as USD Coin (USDC), allowing financial institutions to pre-fund international transfers with tokenized dollars. The company has also explored enabling businesses to send payouts directly to stablecoin wallets.
These efforts suggest that stablecoins are becoming a key part of the broader infrastructure competition among leading payment networks.
Why regulation will be crucial
Adoption of stablecoins within mainstream financial systems depends heavily on regulation.
Financial institutions need clear regulatory frameworks that address key concerns, including:
Because SoFiUSD is issued by a regulated US bank, it is likely to inspire greater confidence among regulators and financial institutions than stablecoins that originate in the crypto space.
Payment networks such as Mastercard are therefore prioritizing regulated stablecoins issued by licensed institutions.
Did you know? Global card payment systems process tens of billions of transactions each year, with card networks handling thousands of payments per second during peak shopping periods such as Black Friday and major online retail events.
Challenges to widespread adoption
Despite growing interest, several challenges could limit the wider adoption of stablecoin settlement.
These challenges include:
Integration complexity for banks and payment processors
Regulatory differences across jurisdictions
Liquidity management between fiat and digital assets
Interoperability between blockchains and financial networks
Moreover, consumers are unlikely to notice major changes because the technology mainly affects back-end infrastructure rather than the front-end payment experience.
The bigger picture for digital payments
Mastercard’s stablecoin initiative is part of a broader transformation taking place in global finance. Stablecoins were initially used mainly for cryptocurrency trading. Today, they are increasingly viewed as potential tools for payments, remittances and broader financial infrastructure.
If stablecoin settlement proves efficient and reliable, card networks could eventually operate within a hybrid system that combines traditional banking rails with blockchain-based digital assets.
Mastercard is not looking to replace traditional payments. Rather, it is upgrading the under-the-hood infrastructure of global card networks. By integrating regulated stablecoins like SoFiUSD into its Multi-Token Network, the company is preparing its infrastructure for a more digital economy.
The goal is to create a system that is faster, more flexible and available 24/7, while ensuring the average shopper notices no difference at the checkout counter.
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Institutional money pours into ENA at current $0.12 levels while technical setup builds toward 25% breakout above key $0.13 resistance zone.
Technical Foundation Solidifying
ENA has established a clear accumulation base around $0.12, with price action consolidating near key resistance levels. The token is holding above critical support while building the foundation for its next major move higher.
Recent price behavior shows controlled buying pressure without excessive volatility—exactly what you want to see before a sustained breakout attempt. The measured consolidation suggests institutional positioning rather than speculative retail activity.
Institutional Money Flow Accelerates
Open interest surged 14.82% in 24 hours while funding rates remain neutral, indicating fresh institutional capital entering positions without creating leverage imbalances. The $61.4 million open interest reflects serious institutional commitment to current levels.
Top traders maintain a 2.42x long bias compared to retail’s 2.15x positioning. When professional and retail sentiment align bullish during consolidation phases, the resulting moves tend to be decisive and sustained. The balanced taker flow ratio of 0.94 confirms steady accumulation rather than momentum chasing.
This institutional backing provides the fuel needed for ENA to challenge overhead resistance zones effectively.
Catalyst Environment Improving
The regulatory concerns surrounding stablecoin yields that weighed on ENA earlier have been largely absorbed by the market. Institutional adoption continues expanding while ecosystem development maintains momentum.
Without major negative catalysts on the horizon, technical levels become the primary driver for near-term price action. This creates a cleaner setup where chart patterns and whale positioning carry more weight than external noise.
Path to $0.15 Target
ENA faces immediate resistance at $0.13, but the accumulation pattern and whale positioning suggest this level will be taken out within the next two weeks. Once $0.13 breaks, momentum should carry price toward the $0.15 target zone.
The setup offers defined risk parameters with support holding at $0.11. Breaking above $0.13 opens the path for a 25% move to $0.15, while any breakdown below $0.11 would invalidate the bullish thesis.
Current positioning data and technical structure favor the upside scenario. The combination of institutional accumulation and controlled consolidation typically precedes strong directional moves in crypto markets.
ENA is building the foundation for its next significant rally, with $0.15 representing a realistic target within the coming two weeks.
Mixed signals from US and Iranian sources characterized the weekend, with an assumed ceasefire and mutual agreements between the two sides now seemingly undone.
Among the latest developments was the repeat closure of the Strait of Hormuz, putting the focus on oil futures on the day. News of a ceasefire had sent WTI crude below $80 per barrel for the first time since March 10.
“We expect an eventful Sunday ahead,” trading resource The Kobeissi Letter summarized in ongoing analysis on X.
CFDs on WTI crude oil one-day chart. Source: Cointelegraph/TradingView
As BTC/USD circled local highs, and sentiment with it, market participants stayed cautious. Trading resource Material Indicators noted that the entire market mood could flip on relatively little input, such as a social media post.
“Sentiment is overwhelmingly bullish at the moment, but that could change with one Tweet in the coming days. Know your invalidations,” it told X followers.
Data from CoinGlass showed long positions coming under fire during the BTC price retracement, with total crypto liquidations at $260 million over the past 24 hours.
Crypto seven-day liquidation history (screenshot). Source: CoinGlass
BTC price capped by resistance trend line
Continuing, trader Daan Crypto Trades eyed a potential gap in CME Group’s Bitcoin futures market opening as a result of the weekend comedown.
Looking at the weekly close, trader and analyst Rekt Capital placed importance on Bitcoin’s 21-week exponential moving average (EMA) near $78,900.
“Bitcoin is rejecting from the 21-week EMA (green),” he observed alongside the weekly chart.
“It is this rejection that could force a post-breakout retest of the top of the Double Bottom (~$73k) next week, provided Bitcoin Weekly Closes just like this.”
BTC/USD one-week chart. Source: Rekt Capital/X
This article is produced in accordance with Cointelegraph’s Editorial Policy and is intended for informational purposes only. It does not constitute investment advice or recommendations. All investments and trades carry risk; readers are encouraged to conduct independent research before making any decisions. Cointelegraph makes no guarantees regarding the accuracy or completeness of the information presented, including forward-looking statements, and will not be liable for any loss or damage arising from reliance on this content.
US Senator Elizabeth Warren has accused Paul Atkins, the head of the Securities and Exchange Commission, of possibly misleading Congress about the agency’s enforcement activity.
Warren, the top Democrat on the Senate Banking Committee, said in a letter to Atkins dated Wednesday that the SEC’s enforcement data for fiscal year 2025, released on April 7, raised “significant concerns” about his answers at a Feb. 12 congressional hearing.
“At the hearing, I specifically asked you to comment on publicly available data highlighting a decline in SEC enforcement activity,” Warren said. “In response, you demurred, stating that you were ‘not sure what data’ I was looking at.”
“Now, it is clear that my assertion regarding the SEC’s declining enforcement actions was correct: the data you released last week show that the number of enforcement actions initiated by the SEC was lower than at any point in the last decade,” she added.
An excerpt from Elizabeth Warren’s letter to Paul Atkins claiming she gave him an opportunity “to correct the record” on SEC enforcement. Source: Senate Banking Committee
The SEC has rolled back its enforcement against crypto companies under the Trump administration, settling or dismissing crypto-related lawsuits the agency launched under the Biden administration, garnering criticisms from some lawmakers.
Warren said the SEC’s enforcement data was “deeply disturbing” and showed it had “largely abdicated its enforcement responsibilities” as the agency’s enforcement activity had dropped to the lowest level in more than 20 years.
She told Atkins that, in light of the data, his answers at the hearing in February “were deeply troubling and raise concerns that you may have been deliberately trying to mislead the Committee about the state of SEC enforcement.”
Warren said the hearing took place more than four months after the end of the 2025 fiscal year, and Atkins’ “deflection and claim to be unsure of the ‘data’ I was examining now appear deeply misleading, potentially designed to cast doubt on the now obvious fact that enforcement activity has declined significantly at the Commission under your watch.”
Warren’s letter asked Atkins a series of questions about whether he was aware of the SEC’s enforcement efforts at the time of his testimony and requested that he explain the agency’s decline in enforcement.
The letter asked Atkins to respond to the questions by April 28.
The SEC did not immediately respond to a request for comment.
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Solana maintains its market dominance in DEX volume and TVL despite SOL’s underperformance versus its peers.
Easing sell pressure from volatile geopolitics and a resurgence in memecoin activity could catalyze a SOL price rally to $100.
Solana’s native token SOL (SOL) gained 10% within five days, reaching a three-week high on Friday. This price movement followed a generalized excitement after the US and Iran announced a ceasefire extension, which led to an 8% decline in crude Brent oil prices. Demand for SOL futures surged as open interest jumped by 20% since Sunday, causing traders to question if the SOL price is bound for $100.
SOL futures aggregate open interest, SOL. Source: CoinGlass
SOL futures aggregate open interest rose to $4.2 billion on Friday, up from $3.5 billion on Sunday. While an increased appetite for leveraged positions indicates institutional investor participation, longs (buyers) and shorts (sellers) remain matched at all times. However, any eventual imbalance in the demand for leveraged positions should be visible within the perpetual futures markets.
Under neutral conditions, the annualized funding rate should range between 5% and 10% to compensate for the cost of capital.
SOL perpetual futures annualized funding rate. Source: Laevitas
Data showing a 3% rate signals low confidence from bulls, although this remains distant from the extreme fear levels seen on April 7 when SOL prices plunged below $80. A negative funding rate indicates that shorts are paying to keep positions open, which is fairly unusual in cryptocurrency markets.
Total crypto market capitalization (USD billions, left) vs. SOL/USD. Source: TradingView
Despite the recent gains, SOL has underperformed the broader cryptocurrency market by 13% in 2026. A reduced appetite for decentralized applications (DApps) likely played a part, but the Solana network remains a strong contender due to its vice-leadership position in Total Value Locked and dominance in decentralized exchange (DEX) volumes.
Solana network DApp revenues have trended down over the past few months, currently totaling nearly $16 million per week. However, this trajectory is not exclusive to Solana; DApps on the Ethereum network accrued $10 million in revenue over the past week, while BNB Chain stood at $4 million. Fading interest in DEX activity remains the primary driver behind this declining revenue across the industry.
Memecoin rally, shorts covering could send SOL to $100
Multiple memecoins jumped 40% or higher between Wednesday and Friday, which likely contributed to the heightened demand for SOL futures.
Best performing Solana tokens in 7 days. Source: CoinGecko
During the previous memecoin rally in early 2025, Solana emerged as a leader in terms of users and activity, especially following the launch of the Official Trump (TRUMP) memecoin. Consequently, any sign of increased demand for memecoins is typically viewed as a positive indicator for SOL price.
Solana has proved itself a serious contender for the next wave of DApp users, whether centered on AI agents or speculative trading. The robustness of its validators and the integrated user experience provided by Web3 wallets make a compelling case for a sustained SOL price rally.
Ultimately, weak demand for bullish leverage on futures places little constraint on SOL regaining momentum. Reduced pressure from the war in Iran may serve as the catalyst for SOL shorts to cover their positions, providing the necessary spark for a potential upside toward $100.
This article is produced in accordance with Cointelegraph’s Editorial Policy and is intended for informational purposes only. It does not constitute investment advice or recommendations. All investments and trades carry risk; readers are encouraged to conduct independent research before making any decisions. Cointelegraph makes no guarantees regarding the accuracy or completeness of the information presented, including forward-looking statements, and will not be liable for any loss or damage arising from reliance on this content.
Institutional buyers are aggressively accumulating DOT at $1.29 despite bearish technicals, with whale positioning hitting 2.2x long – targeting $2.00 within 10 days as compressed volatility sets u…
Market Context: Smart Money vs. Charts
DOT trades in a war zone between what the charts say and what the money does. The token sits 38% below its 200-day moving average at $2.08, screaming technical weakness. Yet derivatives positioning tells the opposite story – top traders maintain 68.9% long exposure while open interest climbed 2.94% to $51 million over 24 hours.
This disconnect creates explosive setups. When institutional money fights technical gravity this aggressively, something breaks. The question is whether weak hands capitulate first or resistance levels crack under buying pressure.
Technical Powder Keg Building
The indicators show a market coiling for violence. RSI hovers at 49.37 – neutral territory where breakouts tend to be brutal. MACD sits flatlined at zero, indicating momentum is compressed and ready to explode. DOT’s position at 0.70 within the Bollinger Bands shows the recent bounce from $1.28 has room to run before hitting overbought conditions.
Most telling is the $0.08 daily ATR – volatility compression that historically precedes 20-30% moves within days. The 1.22 buy/sell ratio over the past hour confirms aggressive accumulation is happening at these levels.
The Whale Signal
Funding rates remain neutral at 0.0028% despite heavy long positioning – meaning smart money isn’t paying premium for their bets. This suggests they’re accumulating before the crowd realizes what’s happening. When whales go 2.2x long without driving up costs, they’re positioning for a significant move.
The institutional alignment with retail (both heavily long) creates a tinderbox. Either this coordination drives a powerful squeeze, or it sets up for coordinated liquidation if key support breaks.
Battle Lines Drawn
The setup points to $2.00 within 10 days if DOT can break above $1.34 resistance. That level triggers short covering that should propel the token toward $1.50, then momentum carries it to test the 200-day average near $2.08.
The bear trap sits below $1.26. Break that support and overleveraged longs face liquidation pressure targeting $1.15-$1.20.
DOT’s fate hinges on the $1.31 pivot. Above it confirms whale conviction and triggers the squeeze to $2.00. Below it exposes the bulls as wrong and opens the door to significant downside.
Given the aggressive institutional positioning and compressed volatility, the setup favors explosive upside. The whales are betting big – their conviction should drive price action over the next week.
ALPHA trades at extreme oversold levels with RSI at 16 – expecting either capitulation to $0.005 support or technical bounce to $0.015 resistance within 7 days.
ALPHA’s Oversold Territory
ALPHA sits at $0.01 in brutal oversold conditions. The RSI reading of 16.20 puts this token in territory where panic selling either exhausts itself completely or accelerates into full capitulation. Most assets don’t stay at these extreme levels long – they either bounce hard or break down violently.
The MACD histogram flatlined at zero shows momentum has completely stalled. Neither bulls nor bears have control right now, creating a powder keg situation where the next directional move carries outsized impact. This technical vacuum rarely lasts more than a few trading sessions.
Trading near the lower Bollinger Band at 0.0095 confirms the oversold thesis. When price hugs the lower band this tightly, it signals either a bounce setup or continued free fall through support. The Bollinger Band squeeze suggests volatility expansion is imminent.
Volume and Market Structure
The stochastic oscillators sit at multi-month lows (%K at 3.65, %D at 2.92), reinforcing the oversold narrative. These readings often coincide with capitulation bottoms in smaller cap tokens, but can also persist during prolonged downtrends.
All major moving averages now act as resistance overhead. The 20-period SMA at $0.02 and 200-period SMA at $0.04 create multiple layers of seller interest on any bounce attempt. This resistance stack limits upside potential even in a relief scenario.
The neutral funding rate on perpetual futures suggests limited shorting interest remains. When derivatives traders lose appetite for shorting oversold assets, it often marks emotional exhaustion in the selling pressure.
Market Psychology Assessment
ALPHA has fallen completely off the mainstream radar. The absence of discussion from crypto influencers and analysts reflects the token’s descent into irrelevance rather than accumulation opportunity. This radio silence can persist for months in smaller projects that lose narrative momentum.
Current price action resembles other tokens that experienced similar technical breakdowns. The pattern suggests either a final capitulation flush or extended sideways grinding in obscurity.
Price Target Analysis
Primary Scenario (70% probability): ALPHA breaks current support and declines to $0.005 within 7 days. The technical damage appears too severe for a sustained bounce, and the lack of buying interest suggests further downside pressure. Any relief rallies get sold into the moving average resistance levels.
Alternative Scenario (30% probability): RSI divergence triggers a relief bounce to $0.015 resistance over the next 10-14 days. This outcome requires either unexpected fundamental catalysts or coordinated buying from existing holders defending positions. The bounce would likely stall at the first significant resistance zone.
The risk/reward currently favors waiting for clearer directional signals. A break below $0.009 confirms the breakdown scenario, while RSI climbing above 30 with volume expansion would validate the bounce thesis.
ALPHA remains a falling knife until proven otherwise. The technical setup demands either a clear breakdown entry or patience for oversold bounce confirmation with proper risk management protocols.
Spot Bitcoin exchange-traded funds (ETFs) recorded nearly $1 billion in net inflows over the past week, marking their strongest performance in more than three months as market sentiment shifts toward risk assets.
Data from SoSoValue shows that spot Bitcoin (BTC) ETFs attracted $996 muillion in total net inflows last week, the highest weekly intake since early January, when inflows reached about $1.4 billion.
Friday saw $663.9 million in inflows, the strongest single-day performance of the week. Earlier gains included $411.5 million on Tuesday and $186 million on Wednesday, followed by a more modest $26 million on Thursday. The period began with a $291 million outflow on Monday.
Spot Bitcoin ETFs see nearly $1 billion in weekly gains. Source: SoSoValue
Total net assets across spot Bitcoin ETFs climbed above $101 billion by Friday, alongside a sharp increase in trading activity, with daily volumes nearing $4.8 billion.
According to analysts at Bitunix, markets are increasingly pricing in how geopolitical tensions evolve rather than whether they persist. Signs of de-escalation, particularly around US–Iran relations, have reduced extreme risk scenarios, weakening demand for traditional safe havens like the US dollar, they said.
The analysts added that the Federal Reserve is still taking a cautious approach, and expectations for rate cuts remain limited. At the same time, concerns about US debt demand and high long-term yields are starting to weaken confidence in traditional “risk-free” assets. This has contributed to additional pressure on the dollar, further supporting flows into alternative assets, including Bitcoin.
“In crypto market structure, BTC is currently in a classic liquidity redistribution phase,” they wrote, adding that Bitcoin continues to trade in a defined range, with resistance above $75,000 and support forming near $72,000. “Liquidation heatmaps suggest the market is building a new equilibrium range rather than extending a directional trend,” they said.
On Friday, Iran’s foreign minister announced that the Strait of Hormuz has been reopened to commercial shipping for the duration of the current ceasefire, a move quickly confirmed by US President Donald Trump. The decision eased immediate fears of supply disruption in one of the world’s most critical oil transit routes, triggering swift reactions across global markets.
Bitcoin surged above $77,000 following the news, while Brent crude fell roughly 10% to around $85 per barrel.
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Stablecoin issuer Circle has launched USDC Bridge, a new user interface built on top of the Cross-Chain Transfer Protocol (CCTP) that seeks to simplify native cross-chain transfers of the USDC stablecoin.
On Friday, Circle’s USDC X account said the bridge allows users to move the USDC (USDC) stablecoin in a “predictable, transparent way,” citing a native burn-and-mint transfer mechanism and no bridge complexities.
Gas fees will be handled automatically, fees will be shown upfront, and live status updates will be provided throughout the transfer, Circle added.
The USDC Bridge builds on Circle’s CCTP, which was introduced in April 2023 and facilitates hundreds of millions of stablecoin transfers each day.
CCTP eliminated the need for wrapped and synthetic versions of USDC.
Cross-chain bridges seek to make the broader crypto ecosystem interoperable, functioning as a unified network rather than a collection of fragmented, isolated blockchains.
Making bridges as simple and easy to use as possible has been an area of focus for many crypto infrastructure firms.
In the past, bridges have confused users and arguably slowed crypto adoption, especially for beginners struggling to navigate bridge interfaces, trade routes and gas fees.
USDC Bridge supports over a dozen blockchains
Cointelegraph found that USDC Bridge supports USDC transfers between at least 17 Ethereum Virtual Machine-compatible blockchains, including Ethereum, Avalanche, Arbitrum, Base, Monad, Optimism, Polygon, Sonic and World Network.
Circle’s CCTP supports a broader number of blockchains, including Solana, Sui and Aptos, which are not natively EVM compatible.
On Wednesday, Circle was hit with a class action for failing to freeze around $230 million worth of USDC that moved through its CCTP from the Drift Protocol exploit on April 1.
More than 100 members are involved in the class action. The law firm representing them, Mira Gibb, is seeking damages, with the final amount to be determined at trial.
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