Last week, digital asset investment products saw a net outflow of $414 million, marking the first outflow in five weeks.

**Bernstein: Crypto Stocks Trade at 'Significant Discount' Amid Short-Term Weakness** On March 30, Bernstein noted cryptocurrency-related stocks are trading at a "significant discount" following a sharp sell-off, with current valuations reflecting weak short-term sentiment rather than long-term growth potential. In a client report Monday, the research and brokerage firm said digital asset infrastructure stocks—including exchanges, brokers, and tokenization platforms—have fallen ~60% from recent highs, even as their underlying businesses continue to grow in areas like stablecoins, derivatives, prediction markets, and real-world asset tokenization. Bernstein expects the current weakness to persist through first-quarter earnings releases, then stabilize, adding the Q1 earnings season may mark a bottom. This view builds on the firm’s recent stance that some crypto stock sell-offs—including Circle-linked names, driven by U.S. regulatory concerns—have already overshot fundamental

March 30 — Per official sources, Midas has announced the completion of a $50 million Series A funding round. The round was led by RRE Ventures and Creandum, with participation from Framework Ventures, HV Capital, Ledger Cathay, Coinbase Ventures, Franklin Templeton, GSR, and several other institutions. Concurrently, Midas unveiled its core product: Midas Staked Liquidity (MSL), built on the "Open Liquidity Architecture." The product has an initial capacity of up to $40 million, and aims to tackle liquidity challenges for tokenized real-world assets (RWA) by enabling instant liquidity and immediate redemption.

March 30 – Trading activity across major perpetual futures decentralized exchanges (Perp DEXs) slowed broadly over the weekend, with open interest also declining, according to DefiLlama data. Hyperliquid’s trading volume dropped 43% week-over-week (vs. the prior Monday) to roughly $3 billion, though its open interest remains elevated relative to peers. Below is the latest 24-hour trading volume ranking for key Perp DEXs: - Hyperliquid: ~$28.2B 24h trading volume; ~$69.2B open interest (Link: https://app.hyperliquid.xyz/join/NTOD) - EdgeX: ~$15.9B 24h trading volume; ~$10.8B open interest - Aster: ~$14.5B 24h trading volume; ~$17.7B open interest (Link: https://www.asterdex.com/referral/aboter) - Apex: ~$9.95B 24h trading volume; ~$11.1B open interest - Lighter: ~$9.73B 24h trading volume; ~$6.52B open interest (Link: https://app.lighter.xyz/?referral=70045843) - Pacifica: ~$2.23B 24h trading volume; ~$70.46M open interest (Link: https://app.pacifica.fi/t

Per Lookonchain data as of March 30, Abraxas Capital has taken a massive $135 million short position in crude oil futures, consisting of: - 954,996 contracts of xyz:BRENTOIL (valued at ~$102.7 million) - 322,885 contracts of xyz:CL (valued at ~$32.7 million)

March 30th — Per HyperInsight monitoring (via Telegram: https://t.me/HyperInsight), short-focused whale address 0x61c (nicknamed "Silver Iron Head Air Force") briefly opened BTC and ETH short positions with average entry prices of $67,500 and $2,055, respectively, totaling ~$4M in position size. Concurrently, the address has placed a slew of orders above current levels: 200 orders across two categories totaling ~$29M, set to execute if prices rise. - BTC: ~$20M in sell orders placed between $68k and $70k; - ETH: ~$5M in sell orders placed between $2,080 and $2,120. Additionally, 100 BTC buy orders are positioned between $62k and $63k, intended to gradually take profits as prices hit that range.

Federal Reserve Chair Jerome Powell will take part in a public event and live Q&A session tonight at 22:30 Beijing time (March 30). Amid ongoing Middle East tensions and heightened market volatility, this appearance ranks among the week’s most anticipated macroeconomic events. Markets widely expect Powell to maintain a cautious stance, avoiding clear signals on the rate-cut path. With inflation still above the Fed’s 2% target and added uncertainty from tariffs and geopolitical conflicts, the probability of the Fed holding rates steady in the near term is rising—reinforcing the “no rate cut” narrative. Tensions persist between former President Donald Trump and the Federal Reserve. If Powell delivers a hawkish or wait-and-see signal, markets anticipate Trump will again exert pressure, escalating the policy standoff. On the fundamental front, signs of weakness have emerged in the U.S. labor market: February saw a sharp drop in job additions, pressuring the economic outlook and pl