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OVERVIEW

The Night Is Darkest Just Before The Dawn And It’s Been Dark For 46 Days So Statistically We’re Very Close 📆

Before we dive in, here’s today’s crypto market heatmap:

Source: finviz

And here’s a look at crypto’s total market and altcoin market cap charts:

Source: TradingView

NEWS
Is The Yield Fight Just A Distraction? 🤔

Everyone is losing their mind (100% including myself) about the stablecoin yield provision in the CLARITY Act. Banks lobbied hard, closed-door meetings happened, Coinbase rejected the draft – and now the entire discourse has collapsed into one question: can you yield on your digital dollars for just sitting there? 💵

That’s a real fight. It’s also not the whole bill.

If you’re like me and forgot what else is in the CLARITY Act, here you go:

• Self-custody gets statutory protection – the bill affirms the right of U.S. individuals to lawfully hold and transact their own digital assets.

• The investment contract argument gets settled in statute – a token sold through an investment contract is not automatically the investment contract itself, which is the exact legal argument this industry has been making since Gensler started filing lawsuits.

• There’s a defined exit ramp out of securities classification for sufficiently decentralized networks. Developers, node operators, and transaction validators are explicitly exempt from registration requirements.

• And the bill outright bans the Federal Reserve from issuing a retail CBDC – a provision so pointed it earned the bill a secondary nickname: the Anti-CBDC Surveillance State Act.

So here’s my question to you: if crypto gets everything else except the yield issue, is that ok? 🤷

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Built by digital asset specialists at CoinShares, DIME offers access to altcoin opportunities through traditional brokerage platforms – no wallets, private keys, or exchanges required.

Until recently, most traditional brokerages only offered ETF exposure to Bitcoin and Ethereum, leaving nearly 70% of the crypto market out of reach.

With DIME, you can access a diversified basket of carefully selected altcoins – including Solana (SOL), Binance (BNB), Polkadot (DOT), Cardano (ADA), Cosmos (ATOM), Avalanche (AVAX), Near Protocol (NEAR), and more – all within a familiar ETF wrapper.

Key benefits:

• Diversification: Equal exposure across 11 altcoins via exchange-traded products listed in the U.S., Canada, U.K., and Europe.

• Risk management: Disciplined quarterly rebalancing helps manage concentration risk, and opportunistically add or remove layer 1 altcoins that aren’t best positioned for long-term success.

• User-friendly: Available through traditional investment accounts

Disclosures:
Investing involves risk, including possible loss of principal. The Fund’s investment objectives, risks, charges and expenses should be considered before investing. DIME may not be suitable for all investors. Diversification does not eliminate risk or guarantee against a loss. The prospectus contains this and other important information and disclosures, and it may be obtained at https://coinshares.com/us/etf/dime/. Investors should read the prospectus carefully before investing and carefully consider the risks outlined in the prospectus before investing in the Fund. DIME is distributed by ALPS Distributors Inc.
Additional Disclosures
Risk of Reduced Returns due to Fees. Shares of ETFs are bought and sold at market price (not NAV) and are not individually redeemed from the Fund. Applicable brokerage fees and commissions will likely reduce returns.
Component Altcoins Risk. The Fund invests in ETPs that invest in the Component Altcoins. Investments in these Component Altcoins involve a high degree of risk and are subject to a variety of unique and evolving risks that may adversely affect the value of the Fund’s shares. Each of these Altcoins is the native token of a distinct blockchain network, and the value of each token is highly dependent on the continued development, adoption, and security of its underlying protocol. The networks supporting these Altcoins are relatively new, rapidly evolving, and may be subject to significant technological, regulatory, and market uncertainties.
Fees. Investors may pay other fees, such as brokerage commissions and other fees to financial intermediaries, which are not reflected in the prospectus.
Evolving Asset Risk. Digital assets are a new technological innovation with a limited history. There is no assurance that usage of digital assets will continue to grow. A contraction in use of digital assets may result in increased volatility or a reduction in the price of the ETPs, which could adversely impact the value of the Fund.

*3rd Party Ad. Not an offer or recommendation by Stocktwits. See disclosure here.

TECHNICAL ANALYSIS
Speaking Of Stablecoins 🪙

I didn’t get a chance to tackle the craziness of what happened with $CRCL ( ▼ 5.38% ) on Tuesday or yesterday (three words: flying and Newark Airport) but I’d like to now.

A Most Unfortunate Double Whammy

What happened to Circle on Tuesday can best be described as what happens to Marty in one of the most underrated, stupidly hilarious comedies, Not Another Teen Movie. Spoiler and warning: Marty’s upper torso gets separated from his lower torso.

Anyway. Circle lost -20% on Tuesday.

CRCL Daily Chart – Click to enlarge.

The first whammy was the CLARITY Act FUD – we’re all aware of that. But you might not be aware or you might not remember that the second whammy happened on the same day.

The second whammy was Tether (they hold close to 70% of the stablecoin market) announced it had retained Deloitte for a full reserves audit. Tether has long been a ‘questionable’ entity when it comes to accounting for the accuracy of its reserves. And because of that, many companies and entities have avoided it, especially regulated entities.

But if one of the big auditors can confirm things are on the up and up, that’s something analysts and speculators believe could hit Circle’s business.

Do You Ichimoku?

One more thing on the chart I want to point out: that circle is when Senkou Span A moves above Senkou Span B – that’s what’s known as a Kumo Twist. Kumo Twists are very, very interesting because they often give a huge warning/headsup that a big change is coming. April 2 is when the Kumo Twist occurs.

If an instrument is trending strongly into the time period of a Kumo Twist, there is a very strong probability of that move terminating and converting into a counter move/swing. The other dates to watch are April 7 and April 8. 

On those dates, both Senkou Span A and Senkou Span B point in the same direction. That means they have the highest probability of creating some strong upwards momentum for Circle. You can read more about that Ichimoku phenomenon in Manesh Patel’s work. It’s pretty damn interesting. 📔

NEWS
Your Bitcoin Can Buy a House Now. Fannie Mae Said So 🏘️

$COIN ( ▼ 4.26% ) and $BETR ( ▲ 5.41% ) just announced crypto-backed conforming mortgages. Fannie Mae-backed. Available to retail borrowers. Using $BTC ( ▼ 3.05% ) or $USDC ( ▼ 0.03% ) as collateral for the down payment. 😱

This is not a DeFi lending protocol. This is not an institutional product. This is a conventional home loan with government backing, and your on-chain assets now count toward getting one.

Here’s how it works: you pledge BTC or USDC, receive two loans at closing – a standard Fannie Mae mortgage on the home, and a separate loan secured by your crypto that covers the cash down payment.

Both loans carry the same rate and amortization term, so you’re making one combined monthly payment. Your crypto stays in custody for the life of the loan and comes back to you when it’s repaid. Bitcoin price volatility does not affect your mortgage terms.

The median age of a first-time homebuyer in the US hit 40 last year. Housing costs are consuming 36% of a typical family’s income. The system was built for people who already have capital. This product exists because tens of millions of Americans built net worth in digital assets and had no way to deploy it toward homeownership without selling.

Coinbase One members approved through Better get up to $10,000 in closing cost credits. USDC pledgers can keep earning rewards to offset monthly costs.

On-chain wealth just became real-world collateral. 🧧

NEWS
250 Million. One-to-One. FSCS Protected. On Midnight 🌕️

Monument Bank – a Bank of England-regulated institution managing £7 billion in deposits – just announced it will tokenize retail customer savings on Cardano’s $NIGHT ( ▲ 3.43% ). 🤯

Phase one targets £250 million in deposits. The tokens map one-to-one with Pounds held at the bank. FSCS protections stay intact. This is not a pilot for institutional clients. This is a consumer banking product.

The three-phase roadmap reads like everything RWA advocates have been drawing on whiteboards for three years, now with an actual timeline attached.

• Phase one: tokenized deposits live on-chain.

• Phase two: tokenized real-world assets (private equity, commodity funds, structured products) delivered through the Monument app to retail customers who have never had access to any of it.

• Phase three: Lombard-style lending against those investments, borrowing without selling, the kind of credit facility that until now required a private banking relationship and a minimum balance most people will never see.

BCG estimates tokenized financial assets hit somewhere between $4 trillion and $16 trillion by 2030. Monument is not waiting around to find out which end of that range is right.

The privacy infrastructure running underneath all of this uses zero-knowledge proofs to keep transaction data shielded – visible to the bank and the customer, nobody else. Compliance-friendly by design. 👍️

STOCKTWITS
Latest Stocktwits Podcasts & Videos 😱

The Latest Cryptotwits Podcast – HashPack on Hedera: Kraken Listing, Cross-Chain Swaps, and What’s Next (HashPack Card)

The Howard Lindzon Show – Truth Social Moves Markets + Why Young Traders Think the Market’s Rigged

Talking Tickers – AI Spending vs Layoffs: META Debate, ServiceNow Value Case, and HIMS Risk/Reward

Boardroom Exclusives – Emergent BioSolutions CEO Joe Papa on the Turnaround, Narcan, and Global Growth

StocktwitsTV – After the IPO: Swarmer CEO Explains the Moat, Data Flywheel, and Backlog

True Odds Podcast – Big Ten to Win It All? Conference Winner Market + Sweet 16 Picks

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Author Disclosure: The author of this newsletter holds positions in AVAX, ADA, PUDGY, WLC, IMX, XTZ, NEAR, HBAR, ALGO, INJ, LTC, LINK, ZEC, XLM, and FET. 📋