Summary
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BTC and ETH remained in a high-level consolidation phase, with volatility across major tokens narrowing and overall market sentiment staying cautious.
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Ethereum network gas fees continued to stay at extremely low levels, with both the lower bound and average at 0.039 Gwei, and the upper bound at 0.042 Gwei.
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PRL, DAO, and L3 rose by 46.85%, 35.92%, and 24.43% respectively, ranking among the top-performing tokens of the week.
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TVL in DeFi increased to $135,954,000,000, while DEX 24-hour trading volume reached $5,983,000,000.
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X accelerated its payment product rollout, while TRM Labs and Solana Foundation continued to strengthen the AI Agent narrative.
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SUI, GUN, and JUP are set to see large token unlocks over the next 7 days, warranting attention to short-term supply pressure.
Market Overview
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BTC Market — BTC is currently trading at $71,289.774, up 0.52% over the past 24 hours, with market sentiment remaining “neutral.” In terms of positioning, the global long/short ratio stands at 54.17% vs. 45.83%, indicating a mild bullish bias in short-term capital, though not at extreme levels. On the open interest side, Gate records $3.841 billion, while total market open interest stands at $30.307 billion, suggesting that major capital has not meaningfully exited. Overall, BTC appears to be in a post-rally consolidation phase, with price repeatedly testing the $71,000 range. Without further expansion in trading volume, the short-term outlook is likely to remain range-bound.
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ETH Market — ETH is currently trading at $2,167.887, up 0.21% over the past 24 hours, with sentiment also in the “neutral” zone. The global long/short ratio is 57.40% vs. 42.60%, showing a modest bullish skew, while the funding rate remains low at 0.0018%, indicating limited momentum chasing despite stable sentiment. In terms of open interest, Gate stands at $3.506 billion, with total market open interest at $18.73 billion, reflecting continued market attention on ETH. Overall, ETH is in a post-rebound consolidation phase, and in the absence of new catalysts, price is likely to continue fluctuating within the $2,100–$2,200 range.
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Altcoins — Tokens such as XRP, TRX, WLFI, SUI, and XLM have shown relatively stronger performance, while core assets like BTC, ETH, and SOL remain in narrow trading ranges. This suggests that while risk appetite is gradually recovering, capital rotation remains selective rather than broad-based.
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Stablecoins — The total stablecoin market capitalization currently stands at $315.6 billion, down 0.17% over the past week. While overall supply remains at elevated levels, growth momentum has marginally slowed.
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Gas Fees — Ethereum network gas fees remain at extremely low levels, with the lower bound at 0.039 Gwei and the upper bound at 0.042 Gwei. As of March 26, the average gas fee for the day is 0.039 Gwei.
Trending Tokens
Over the past 24 hours, the altcoin market has continued to show a divergence pattern, with some small- and mid-cap assets posting independent gains driven by news catalysts and capital inflows. Compared to the narrow range trading of major tokens, popular altcoins have exhibited significantly higher price elasticity, indicating that short-term capital is still inclined to rotate into narrative-driven, low-float, or volume-expanding assets. However, in the absence of a broad market trend, such rallies remain largely structural opportunities, and chasing highs still carries notable risk.
PRL Perle (+46.85%, Circulating Market Cap: $33.90M)
According to Gate market data, PRL is currently trading at $0.19090, up 46.85% over the past 24 hours, with a circulating market cap of approximately $33,903,000. As one of the stronger mid-cap performers this week, PRL traded within a range of $0.10881 to $0.19926, showing a relatively steady intraday upward slope.
Compared to micro-cap tokens that often experience sharp spikes, PRL’s performance appears more consistent with a trend driven by sustained capital inflows. Its relatively higher circulating market cap and smoother price trajectory suggest that market attention is not purely driven by short-term speculation, but rather by a phase of capital revaluation. The strategic partnership announced by Greedy World, combining GameFi and music interaction, has further expanded its narrative scope and potential user reach.
DAO DAO Maker (+35.92%, Circulating Market Cap: $17.55M)
According to Gate market data, DAO is currently trading at $0.06993, up 35.92% over the past 24 hours, with a circulating market cap of approximately $17,549,700. As an early on-chain fundraising and community launch platform, DAO Maker tends to regain attention when market risk appetite begins to recover.
In this rally, DAO’s price moved from $0.04915 to around $0.08450, reflecting a clear short-term recovery pattern. Under current market conditions, assets with established brand recognition and platform attributes are often among the first to attract renewed capital inflows during sentiment rebounds. However, the sustainability of this move will still depend on follow-through volume.
L3 Layer3 (+24.43%, Circulating Market Cap: $16.01M)
According to Gate market data, L3 is currently trading at $0.011842, up 24.43% over the past 24 hours, with a circulating market cap of approximately $16,006,000. Layer3 is a platform focused on on-chain tasks, user engagement, and ecosystem onboarding, and has maintained a certain level of market recognition in terms of user growth and participation.
From a price action perspective, L3 traded within a range of $0.009320 to $0.014018, showing a pattern of post-breakout consolidation after a volume-driven rally. Compared to purely sentiment-driven micro-cap tokens, L3 benefits from both platform fundamentals and an existing user base. In a market characterized by structural rebounds, such assets are more likely to attract attention from short-term capital and narrative-driven traders.
Key Highlights
Stablecoin market cap remains elevated, on-chain liquidity stays resilient
The total stablecoin market capitalization currently stands at $315.6 billion, up 0.1% over the past 24 hours and down 0.17% over the past 7 days. While growth has moderated, the overall supply remains at elevated levels, indicating that deployable on-chain liquidity is still abundant.
The persistence of high stablecoin balances suggests that there has been no significant capital outflow from the market. Instead, it reflects a wait-and-see stance amid still-muted risk appetite. With major assets consolidating at high levels and altcoins rotating structurally, elevated stablecoin supply implies that capital remains ready to rotate quickly into risk assets once clearer trends or narrative catalysts emerge.
DeFi TVL rebounds, DEX trading demand remains active
According to DeFiLlama, TVL in DeFi has risen to $135.9 billion. DEX 24-hour trading volume reached $5.9 billion, while perpetual futures volume stood at $23.8 billion over the same period. These figures indicate that both on-chain capital formation and trading activity remain at relatively elevated levels, with no clear deterioration in baseline DeFi activity.
DEX volumes holding near the $6 billion level suggest that demand for on-chain price discovery and decentralized trading remains resilient. In contrast, ETF net inflows over the past 24 hours were -$4.8 million, reflecting a more cautious allocation pace from external capital. Overall, on-chain native activity currently appears stronger than incremental off-chain inflows, pointing to a market structure dominated by internal rotation rather than fresh capital expansion.
Low gas environment persists, supporting on-chain activity
On the Ethereum network, both the low-end and average gas fees remain at 0.039 Gwei, with the high-end at 0.042 Gwei, keeping most on-chain operations at extremely low cost. Based on typical actions such as swaps, NFT sales, bridging, and borrowing, transaction costs are generally within the $0.01–$0.05 range, maintaining a low barrier to entry for users.
The significance of low gas fees extends beyond reduced transaction costs. It creates a more favorable environment for protocol usage, portfolio rebalancing, and high-frequency on-chain interactions. As major assets remain in consolidation and capital seeks structural opportunities, low-cost execution conditions help sustain activity across DEX, DeFi, and emerging narrative sectors, while also laying the groundwork for potential new on-chain catalysts.
Weekly Focus
X accelerates payment expansion, strengthens crypto-native product capabilities
X has recently appointed a design lead with a background in crypto and wallet products, further advancing the development of its X Money payment ecosystem. The individual brings prior experience in self-custody wallets and DeFi products, indicating that the platform is introducing more crypto-native expertise in areas such as payment design, asset management experience, and on-chain integration.
The significance of this move goes beyond a personnel change. It signals that X’s payment system is evolving toward a more comprehensive stack encompassing wallets, transfers, and digital asset interactions. If X Money further integrates self-custody, on-chain payments, or broader crypto functionalities, the convergence of social platforms and financial services could deepen, potentially increasing market attention toward the “social finance” narrative.
TRM Labs announced the launch of a new AI Agent tool designed to assist investigators in tracking crypto-related illicit activities. According to disclosures, the tool enables users to perform complex analytical operations באמצעות natural language prompts, reducing the barriers to on-chain data querying and investigative workflows while improving efficiency for both law enforcement and analysts.
This development highlights how AI Agents are expanding beyond trading, marketing, and content use cases into blockchain security and compliance analytics. For the industry, such tools improve the efficiency of identifying and tracing complex on-chain relationships, signaling a shift in analytics from pure data provision toward higher-level intelligent decision-support capabilities.
Solana Foundation strengthens AI Agent infrastructure narrative
The Solana Foundation stated this week that the network is increasingly positioning itself as part of the infrastructure for an “agentic internet,” emphasizing its strengths in on-chain payments, stablecoins, and high-throughput execution as well-suited for AI Agent-driven services. This messaging suggests that Solana is extending its narrative from a high-performance blockchain toward a native settlement and execution layer for AI-powered applications.
The core logic lies in the potential for AI Agents to autonomously initiate transactions, call services, and execute settlements. In such a scenario, blockchain environments with high performance, low costs, and reliable payment capabilities will hold a competitive edge. By reinforcing this direction, Solana aims to further solidify its positioning in payments, execution infrastructure, and emerging application layers—potentially becoming a continued focal point for market attention.
Funding Weekly Report
According to RootData, between March 20 and March 26, 2026, multiple crypto and related projects announced new funding rounds, spanning sectors such as prediction markets, social infrastructure, and on-chain ecosystem development. Below are the largest and most notable deals of the week:
Kalshi
Kalshi completed a $1 billion funding round on March 20, reaching a valuation of $22 billion, with participation from Coatue Management.
As a leading platform in the prediction market sector, Kalshi focuses on event-based trading, market pricing, and information expression mechanisms. This large-scale financing highlights continued strong confidence from capital markets in prediction markets as an emerging trading infrastructure. With growing demand for event-driven trading, Kalshi is well-positioned to expand its product scope and market influence, further heating up the sector.
Bluesky
Bluesky raised $100 million in a Series B round on March 20, with investors including Bain Capital Crypto and Alumni Ventures.
Bluesky is a key project in the decentralized social network space, aiming to build a more open social protocol and content distribution system. This round reflects sustained investor interest in decentralized social infrastructure. As the integration between social platforms, payments, and on-chain identity systems continues to deepen, the open social protocol model represented by Bluesky retains significant long-term potential.
Startale Labs
Startale Labs completed a $63 million Series A round on March 26, backed by Sony Innovation Fund and SBI Holdings.
As a key player in on-chain infrastructure and ecosystem development, Startale Labs’ funding underscores the continued convergence between traditional capital and crypto-native infrastructure building. The proceeds are expected to support further development of core technology, application ecosystems, and related infrastructure, indicating that capital support for high-quality Web3 infrastructure projects remains resilient.
What to Watch Next Week
Token Unlocks According to Tokenomist data, several major token unlocks are scheduled over the next 7 days (March 26, 2026 – April 2, 2026). The top three are as follows:
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SUI is set to unlock approximately $41.59 million worth of tokens over the next 7 days, representing 1.1% of its circulating supply.
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GUN is set to unlock approximately $9.59 million worth of tokens over the next 7 days, representing 26.6% of its circulating supply.
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JUP is set to unlock approximately $8.28 million worth of tokens over the next 7 days, representing 1.5% of its circulating supply.
Reference:
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Gate, https://www.gate.com/trade/BTC_USDT
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Farside Investors, https://farside.co.uk/btc/
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Gate, https://www.gate.com/trade/ETH_USDT
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Gate, https://www.gate.com/crypto-market-data
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Coingecoko, https://www.coingecko.com/en/cryptocurrency-heatmap
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The Block, https://www.theblock.co/post/383678/crypto-com-add-quant-trader-sports-event-prediction-market-making
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The Block, https://www.theblock.co/post/383711/polymarket-third-party-vulnerability-hack
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Coindesk, https://www.coindesk.com/business/2026/03/25/solana-bets-on-ai-agents-foundation-says-network-is-becoming-core-infrastructure-for-agentic-internet
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Rootdata, https://www.rootdata.com/Fundraising
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Tokenomist, https://tokenomist.ai/
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