Research firm Santiment found that over the past year, when USDT active addresses on a certain blockchain increased significantly three times, BTC price rebounded each time, indicating that USDT liquidity has a significant impact on BTC price.

Gate News reported that on March 12, U.S. Senate Majority Leader John Thune stated that the Senate plans to advance cryptocurrency market structure legislation and licensing-related legislation after completing debate on the (voter identification provisions) of the "Save America Act." John Thune said that senators are pushing forward this long-awaited cryptocurrency market structure bill and indicated that if there is bipartisan willingness to cooperate, the Senate can make progress on multiple issues of mutual concern between the two parties. The "Save America Act" is expected to undergo partisan debate in the Senate next week.

March 12, among the top 100 cryptocurrency tokens, River (RIVER) had the highest gains, up 22.15%; Midnight (NIGHT) had the largest decline, down 8.18%. Additionally, tokens such as Pi, Sky, Bittensor, and Render also experienced varying degrees of gains.

Gate News reports that on March 12, Zama and crypto market maker GSR announced that they have completed the first confidential over-the-counter transaction on Ethereum based on the Zama protocol. The transaction achieved encryption protection of sensitive data such as transaction size and fund flow on public blockchains. Zama stated that this transaction aims to eliminate "privacy loopholes" for institutional participants caused by on-chain data transparency. Through Fully Homomorphic Encryption (FHE) technology, transaction details remain encrypted on-chain while ensuring transaction verifiability and settlement finality.

Circle's stock price has recently risen approximately 126%, significantly outperforming other crypto companies, reflecting the resilience of USDC's market share and its leading position in stablecoin infrastructure. Analysts believe stablecoins may become the dominant standard for cross-border payments.

On March 12, the Bitcoin-to-Gold ratio showed bullish divergence, indicating weakening selling pressure and potentially marking a reference point for Bitcoin's long-term trend bottom. Bitcoin ETF saw net inflows of approximately $906 million, while Gold ETF experienced single-day outflows of $3 billion, forming a significant divergence. Despite ETF trading volume being lower than US stocks, there remains substantial room for institutional participation. Historically, Bitcoin has often rebounded following geopolitical turmoil.

Gate News reported that on March 12, market traders no longer fully price in expectations of a single Federal Reserve rate cut in 2026. Previously, the market broadly anticipated the Federal Reserve would implement one rate cut in 2026, but current trading pricing shows this expectation has shifted.

2026-03-12 14:00 至 2026-03-12 14:15（UTC），ETH現貨價格走勢出現快速拉升，15分鐘內收益率達到+0.72%，價格區間為2065.45至2082.77 USDT，全程振幅為0.84%。本輪波動期間市場關注度提升，成交量環比上升，單邊買盤驅動市場情緒持續偏多。 本次異動的主要驅動力是鏈上大額資金流入以及現貨、合約市場的聯動效應。鏈上數據顯示，有多筆高淨值錢包

Gate News reports that on March 12, Onchain Lens monitoring showed that the on-chain address "0xF78" deposited approximately 3.6 million USDC to HyperLiquid and opened a $CL contract 20x leveraged short position.

Gate News, on March 12, TON announced that due to the Middle East conflict and the security situation in the UAE region, it has decided to cancel the Gateway Dubai event originally scheduled for May 1-2, 2026. TON will refund Gateway tickets within 14 days. TON stated that it is exploring different hosting formats and aims to hold a Gateway event before the end of this year, with relevant announcements to be released soon.