Stablecoin use cases keep expanding
There’s never a dull moment onchain. Here’s what you need to know this week:
Crypto prices rose again this week. Plus, how macro events have been influencing markets, and bitcoin ETFs saw inflows for a second week in row.
Stablecoin payment use cases keep expanding. The latest developments in how businesses and state governments are aiming to use this technology.
What prediction markets are saying about the Oscars. A look at what is currently forecasted for some of the biggest Academy Awards races this year.
MARKET BYTES
Prices rose again this week against volatile geopolitical backdrop
For much of 2026, crypto markets have been stuck in a holding pattern, with bitcoin hovering between $60,000 and $70,000, and few obvious catalysts emerging to shake things up.
The last few weeks have been different, however, with increasing volatility in markets affecting everything from oil and precious metals to stocks and crypto
In just the last week, BTC surged to $74,000 on Wednesday March 4th, then dipped below $66,000 on Sunday, before bouncing back above $71,000 this Tuesday. Major altcoins, including ether, Solana, and XRP, took similar journeys.
“[These swings] are evidence that the market is alive again: that two-sided liquidity has returned, that traders are willing to take risk in both directions, and that the kind of participation exists that institutional allocators need before they commit fresh capital,” noted Bloomberg. “Large players do not deploy into thin, direction-less markets.”
Crypto-powered perpetual futures, which allow for leveraged trades on the price movements of a wide range of asset classes, have also been surging, with daily trade volumes tied to the price of oil on one DeFi platform rising to more than $1.2 billion on Monday.
Here’s more news you should know.
How macro headlines have been shaping markets
While markets are never responding to just one signal, the recent swings have generally corresponded with specific macroeconomic headlines.
When the Iran conflict started, BTC responded by dropping to around $63,000 — but that dip didn’t last long. By last week, prices had jumped to $74,000, which corresponded with reports that major crypto legislation in Congress could pass in the coming months.
Prices dipped again in the following days after two pieces of news emerged: A worse-than-expected February jobs report on Friday, and oil prices that spiked more than 30% early on Monday, combined to drive BTC back below $66,000.
This week? BTC and oil markets both flipped direction again later on Monday after President Trump said that the U.S. is “very far ahead” of achieving its goals in Iran.
Like oil and water… Why does crypto tend to trade opposite to oil? One factor, analysts say, is that high oil prices can result in higher inflation and slower interest-rate cuts from the Federal Reserve. High oil prices also generally drive the value of the dollar higher, making riskier asset classes like crypto and tech stocks potentially less attractive for investors.
BTC ETFs inflows continued for second week
For the first time since October, spot bitcoin ETFs have seen two straight weeks of inflows, according to CoinShares data, with $521 million of new capital this week.
“Bitcoin is increasingly being repriced by the market as a geopolitical hedge rather than just a risk asset,” one analyst told CoinDesk last week. “Unlike gold, bitcoin trades 24/7 and can move across borders instantly, which makes it a natural escape valve for capital during periods of geopolitical stress.”
Alt nation… Even though both XRP and Solana prices are down for the year, their respective spot ETFs have both seen net inflows. According to a new Bloomberg report, SOL ETF holders skew toward professional “industry-native” funds, while XRP ETF holders are more likely to be retail traders.
STABLECOIN SPOTLIGHT
Companies are betting big on stablecoin payments
While crypto markets are still way down from their 2025 highs, one area of the crypto economy has continued to boom: stablecoins.
The total market cap for stablecoins — which are tokens pegged to the price of a reserve asset, typically the dollar — just hit a new all-time high of $314 billion, according to DeFiLlama data.
Last summer, Congress passed landmark legislation called the GENIUS act, which helped stablecoins emerge as a key tool of 21st century finance for cross-border transactions, payments, yield-earning accounts, and — potentially — the default form of money for AI-powered agents.
Here’s what you need to know.
One of the world’s biggest insurance firms is testing stablecoins
This week, AON, a global insurance broker which advises on $5 trillion of assets across 120 countries, announced completion of a proof-of-concept test using stablecoins to settle insurance premium payments.
As part of the test, the company accepted payments in USDC on Ethereum and PYUSD on Solana from Coinbase and Paxos, which are both AON clients. The firm said it was the first known example of a major insurance company accepting stablecoins.
Stablecoins have the potential to reshape how insurance companies handle large financial payments. Currently, premiums can take days to settle, especially for cross-border transactions. But by using blockchain-based payments, companies can move large sums in minutes, and also create transparent records of transactions.
With the GENIUS Act providing regulatory clarity around stablecoins for major corporations, many are now testing how they might be useful for their operations, Coindesk reports.
"As tokenized instruments become more widely used, clients need confidence that speed and innovation do not come at the expense of control,” said Tim Fletcher, CEO of Aon's financial services group. “By building real-world understanding of stablecoins early, we are strengthening our ability to advise on risk, governance and resilience as digital finance evolves.”
Florida just passed its own stablecoin framework
Florida just passed the first ever state-level framework for stablecoins in the U.S., after a unanimous 37-0 vote from its state senate. The bill, which is expected to be signed by Gov. Ron DeSantis within 30 days, creates a framework for stablecoin issuers in Florida that aligns with the GENIUS Act.
The bill authorizes the Florida Department of Financial Services to accept stablecoins for payments of things like licenses and taxes; clarifies that certain payment stablecoins won’t be classified as securities; and mandates that out-of-state issuers notify the state before operating within Florida.
Florida isn’t the only state interested in stablecoin adoption. In Wyoming, legislators officially launched the state’s stablecoin, FRNT, in January with the goal of helping Wyoming business owners to avoid high credit-card transaction fees.
Could AI payments be the future of stablecoins?
Stablecoin firms including Circle and Stripe are building payments systems that future autonomous AI agents will be able to use to make transactions with other AI agents.
Circle CEO Jeremy Allaire, speaking recently with Bloomberg, “described a future in which AI agents increasingly consume services from one another,” as Bloomberg put it. In this scenario, “an agent pulling data or making a simple information request might be charged only cents, making traditional card payments costly given their fixed fees and percentage-based pricing.”
Circle’s new stablecoin-focused blockchain, Arc, has started testing a new feature called “nanopayments,” which allow AI agents to hold balances and spend across blockchain networks, with transactions costing a fraction of a penny. That, Bloomberg explained, makes machine-to-machine commerce economical in a way that credit cards couldn’t.
“The problem to solve is not how does an agent buy something on Amazon," said Allaire. “The real opportunity is all of the things that AIs need to consume from each other.”
AND THE OSCAR GOES TO…
What prediction markets think will happen at the Academy Awards
The 98th Academy Awards will take place this Sunday. What does the market have to say about who might take home Oscars this year?
As of Monday, Coinbase Prediction Markets traders had placed more than $20 million in predictions across all the major categories. Here’s whom they picked, so far, for four of the biggest prizes:
Best Actor
57% Michael B. Jordan, “Sinners”
What markets say: Traders on Coinbase have placed more than $9 million in predictions for this Oscar, with “Sinners” star Michael B. Jordan (who played twin brothers in the movie) nabbing the highest probability of winning.
Jordan’s lead is a recent development. For months, Timothee Chalamet (33% probability) had been winning the race for his role in “Marty Supreme.” Predictions for other nominees include Leonardo DiCaprio (6%) for “One Battle After Another,” and Wagner Moura (5%) for his role in “The Secret Agent.”
What critics say: “At this point, the tide has turned to the ‘Sinners’ star grabbing his first Oscar. As it should, because Jordan's dual performance as twin gangsters dealing with a bunch of vampires crashing their juke joint – and the way he creates two distinct personalities for them – is amazing work.” – USA Today
Best Actress
95% Jessie Buckley, “Hamnet”
What markets say: Traders have placed more than $2.3 million in predictions on this award and are overwhelmingly forecasting Jessie Buckley to win for “Hamnet.” Rose Byrne has a 3% probability for “If I Had Legs I’d Kick You” and Emma Stone has a 1% chance for her role in “Bugonia.”
What critics say: “A raw, unsparing embodiment of grief as a lived-in condition rather than a narrative device. Buckley navigates the film in elemental sorrow without sentimentality, delivering what many consider the performance of the year, and undoubtedly her career so far.” – Variety
Best Director
91% Paul Thomas Anderson, “One Battle After Another”
What markets say: Traders on Coinbase have placed more than $2.5 million in predictions for this award, with Paul Thomas Anderson — who has been in the lead since October — taking the lion’s share. Ryan Coogler has a 9% probability for “Sinners,” and Chloe Zhao has a 2% probability for “Hamnet.”
What critics say: “The race for best picture may no longer be a slam dunk, but this one certainly is. Sinners has connected more with general audiences, but Paul Thomas Anderson’s defiant humanism, so bracingly wedded to One Battle After Another’s screwball action comedy, turned his latest into the water-cooler movie of the year.” – Slant Magazine
Best Picture
74% “One Battle After Another”
What markets say: The Best Picture race has garnered more than $12.8 million in predictions, with “One Battle After Another” notching a 74% probability of winning. “Sinners” is being given a 24% chance, and “Hamnet” has a 3% chance.
What critics say: “At this point, ‘One Battle’ feels preordained by precursors, critics’ prizes and general sentiment.” – The Los Angeles Times
TOKEN TRIVIA
What is Bitcoin’s maximum supply?
A
12 million
B
21 million
C
25 million
D
There is no maximum supply
Find the answer below.
Trivia Answer
B
21 million
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