Gate Insights and Crypto Market Analysis

_TRON records $4B USDT inflows in Q1 2026 as stablecoin growth reshapes crypto payments and on-chain activity globally._ TRON strengthened its position in global crypto payments during Q1 2026. The network added over $4 billion in USDT supply. This growth came despite a broader market

Canary Capital Group LLC filed an S-1 registration statement with the U.S. Securities and Exchange Commission (SEC) on April 8, 2026, seeking approval to list an exchange-traded fund that tracks the spot price of the PEPE memecoin.

The trademark dispute between BAYC developer Yuga Labs and artist Ryder Ripps was finally settled in 2026, with Ripps being barred from using Yuga’s images and trademarks. The case involved trademark infringement and artistic freedom; the court held that even with a satirical intent, it could still cause consumer confusion, so Ripps was not exempted from liability. This case established an important legal precedent for NFT trademark protection.

In recent weeks, the crude oil market has seen abnormal trading activity. Investors sold short positions totaling $950 million before the announcement of a ceasefire between the US and Iran, causing crude oil prices to subsequently plunge by about 15%. Because this trade was abnormal in terms of execution window, method, and timing, it has raised market concerns about whether there was insider trading. Representative Ritchie Torres has sent a letter to the relevant agencies requesting an investigation, stressing that the trade was targeted and that the beneficial holders behind it need to be identified. This incident is similar to the $500 million short position from March 23, indicating potential market manipulation issues.

Chainalysis predicts that stablecoin transaction volumes will reach $719 trillion by 2035, and if macro conditions are favorable, they could reach $1,500 trillion. Key drivers include generational wealth transfer and the penetration of payment infrastructure, with stablecoins expected to grow 25 to 50 times within 10 years. The actions of major financial institutions indicate that stablecoins have become a core payment method.

Strategy Executive Chairman Michael Saylor believes Bitcoin hit its bottom around $60,000 this February, because all forced sellers in the market have already exited. He said that the catalyst for the next bull market will be a bitcoin-based banking credit system, while he believes the threat from quantum computing is being exaggerated, and he pointed out that the technical community has enough time to deal with this threat.

Circle has launched its Stablecoin Payouts service for Singapore partners, enhancing its payment infrastructure in Asia. This service facilitates compliant cross-border transfers using USDC, aiming to streamline fund movement while addressing regulatory concerns.

Morgan Stanley listed its own spot Bitcoin ETF (MSBT) on April 8. The management fee is only 0.14%. Net inflows on the first day were $34 million, and trading volume exceeded 1.6 million shares. Bloomberg analysts say it is the largest Bitcoin ETF issuance in history, predicting that assets under management could reach $5 billion in its first year. MSBT benefits from Morgan Stanley’s distribution network of 16,000 advisors, demonstrating a strong structural advantage.

In March, cryptocurrency card transaction volumes reached $600 million, up more than threefold year over year, indicating its growing adoption in digital payments. The market share of USDT has gradually been shrinking, while USDC continues to rise in regulated markets such as North America and Europe. Tether plans to launch a U.S. compliant stablecoin to counter USDC’s expansion; going forward, the market landscape will keep changing.

Bitcoin (BTC) gives back the overnight gains, temporarily trading at around $70,650 on April 9. The U.S. SEC appointed David Woodcock as its new Enforcement Director, after concerns were raised about how crypto cases would be handled following the departure of the prior official. The U.S. Treasury is planning to require stablecoin issuers to take on anti-money-laundering and sanctions compliance obligations.

Canary Capital filed an S-1 application with the SEC on April 8, seeking to launch an ETF that tracks the spot price of the PEPE meme coin. The meme coin has a market value of about $1.5 billion, and the issuer is testing the SEC’s review limits for different types of digital assets. PEPE’s lack of any practical use could become a point of contention in the review; there is currently no precedent for a meme-coin ETF to be approved.

Iran plans to charge ships passing through the Strait of Hormuz a $1 per barrel Bitcoin toll, an action that is seen as a challenge to the “petrodollar” system. Trump says he is considering a joint venture with Iran to set up a fee collection mechanism, showing new developments and a power struggle between the U.S. and Iran on this issue. Even if there is a desire for a ceasefire, renewed passage through the Strait of Hormuz will still be subject to Iran’s strict control.

The White House Council of Economic Advisers has released a new study arguing that prohibiting stablecoin yield would do little to strengthen bank lending, even as it would remove a benefit that stablecoin holders can get from competitive returns. The report, published April 8, 2026, lands at the

Bitcoin has recently been trading below $72,000 and faces risks from the failure of the U.S.-Iran ceasefire talks and the Strait of Hormuz closing again, which has weighed on market sentiment. At the same time, Federal Reserve meeting minutes show that the likelihood of further rate hikes is rising, further affecting the valuation of risk assets. Bitcoin’s key resistance level is $75,000 and its support level is $68,000; the market is currently waiting for a clear direction confirmation signal.

David Schwartz updated on his XRP Ledger hub, which had a brief shutdown for software upgrades. The hub has shown reliable performance, dispelling efficiency concerns. Notable updates include an XRPL software upgrade and changes to the UNL list.

Swiss financial institutions, including UBS and PostFinance, are testing a Swiss franc stablecoin in a controlled sandbox until 2026 to explore blockchain payment systems. The initiative aims to develop a digital money ecosystem while mitigating risks and ensuring compliance.