This week begins with the crypto market with a focus on macro background. Several protocol-level events are scheduled, but developments surrounding the Iran conflict and Fed signaling are likely to remain key drivers.
Reuters reported on Sunday that the Pentagon is preparing for a weeks-long ground operation in Iran, but President Trump has not approved the plan. Also by Monday, the Associated Press reported that President Trump was floating the idea of seizing Iran's Kharg Island oil terminal, even though diplomatic talks were still being discussed. Brent settled at $112.57 last Friday, up 4.2% on the day.
BREAKING: President Trump says the US is “in serious discussions with a new, more rational administration to end military operations in Iran.”
President Trump also said that if no deal is reached, the US will “blow up all the power plants and oil and completely destroy it”… pic.twitter.com/UAsFbQuWWF
— Kobeissi Letter (@KobeissiLetter) March 30, 2026
Powell is scheduled to speak at Harvard University later on Monday, March 30th, and markets will be looking for some signal on how the Fed is assessing the current oil crisis. As the Iran conflict drives up energy prices, policymakers face a familiar trade-off between inflation risk and slower growth.
Related books
As in recent weeks, macro developments are likely to continue to be the primary driver for cryptocurrencies. An escalation in the situation in Iran or a change in Powell's forward guidance could quickly ripple through broader risk markets, including crypto assets.
Crypto events to watch this week
In the world of cryptocurrencies, AAVE has been in the spotlight this week. The project is set to activate Aave V4 on the Ethereum mainnet. Aave V4 has already moved beyond the rumor stage and gone through the ARFC process, with forum proposals pointing to a “security first” deployment, conservative risk parameters, and a narrower initial hub-and-spoke configuration.
For ETH, the calendar is important not just as a starting point for the day, but as a checkpoint for emotions and stories. EthCC(9) is touted to be Europe's largest and longest annual Ethereum event, starting March 30th in Cannes and running until April 2nd. The schedule for the adjacent EthCC Week also includes Agora, an institutional forum focused on market infrastructure, operational efficiency and capital deployment, on March 31st.
JUP is focusing on expanding its product lineup. Jupiter's Offerbook is already in private beta and accepting registrations, but the pitch is unusually direct: “On-chain finance requires on-chain credit. Time-based P2P loans without price-based settlement.” The product allows borrowers and lenders to create recurring orders with customizable collateral, annual interest rates, loan amounts, and terms.
Related books
SUSHI plans to promote derivatives. Sushi's official account has set Purp for April 2nd, and Sushi's own site already has a dedicated Purp page, informing users that “Sushi's Purp is coming soon” and encouraging people to sign up for the waiting list. This is important because criminals remain one of the deepest and most persistent revenue areas in the cryptocurrency space, and Sushi has positioned derivatives as a strategic priority since Sushi Labs outlined its roadmap.
With cash starting to move around, FTX is also back in the spotlight. FTX Recovery Trust announced that it will begin making a fourth distribution totaling approximately $2.2 billion to convenience class and non-convenience class eligible creditors who have completed the necessary formalities on March 31st, with funds expected to be delivered via BitGo, Kraken or Payoneer within one to three business days. The market question is straightforward. After insurance claims are paid, how much of the recovered capital, if any, is returned to crypto trading.
Based, a DEX powered by Hyperliquid, will launch tokens on March 30th. The project has confirmed TGE on March 30th on X, KuCoin is already scheduled for BASED/USDT trading on Monday at 10:00 UTC, and withdrawals will start one day later. KuCoin describes Based as a non-custodial DeFi “SuperApp” that spans cryptocurrencies, stocks, commodities, and spending rails.
At the time of writing, the market capitalization of cryptocurrencies was $2.32 trillion.
Featured image created with DALL.E, chart on TradingView.com
