Gate Cryptocurrency News and Market Analysis

Pi Network has initiated the second phase of its mainnet migration, marking the first time that referral reward tokens are included in the migration scope and converted into "on-chain assets." KYC verification is a key condition for the migration, but delays in verification and transfers have caused user dissatisfaction. This migration aims to accelerate Pi Network's transition toward a complete blockchain ecosystem, enabling support for more applications in the future, such as merchant payments and decentralized applications.

Bitcoin (BTC) staged a strong rebound over the weekend, trading around $72,490 as of March 16. "Super Central Bank Week" is upon us, as the shadow of the Iran conflict looms over global interest rate decisions. U.S. Energy Secretary Reit stated that the Iran conflict will end "in the coming weeks," after which oil supply will rebound and energy prices will decline. The International Energy Agency revealed that emergency reserve oil will soon begin flowing into global markets.

Mizuho Financial Group research shows that USDC's adjusted trading volume will reach $2.2 trillion in 2026, surpassing USDT's $1.3 trillion for the first time, demonstrating its growth in the stablecoin market. USDC performs better in regulated markets, while USDT maintains dominance in emerging markets, reflecting geographic differentiation in the stablecoin market. This phenomenon is closely related to the different regulatory strategies adopted by both.