Raw News Items
106 itemsApril 1, 2026
- CoinDeskScore: 90
Australia passes crypto regulation requiring exchanges to obtain financial services licenses
Exchanges and custody platforms must obtain financial services licenses within six months under the new framework.
- CoinDeskScore: 90
Crypto asset manager CoinShares to list on Nasdaq after $1.2 billion SPAC deal
The listing makes CoinShares the latest crypto firm to go public and follows similar moves by BitGo, Circle, Bullish, and Gemini in recent years.
- The BlockScore: 90
CoinShares enters US public markets via Nasdaq after $1.2 billion Vine Hill SPAC merger
CoinShares joins a growing wave of crypto firms tapping U.S. public markets after its $1.2 billion SPAC merger announced last September.
- The BlockScore: 90
‘Not an April Fools joke’: Major Solana-based trading platform Drift exploited for at least $200 million
The exploit, which started over two hours ago, seems to be targeting multiple Drift vaults, totaling at least $200 million.
- DecryptScore: 90
Solana DeFi Exchange Drift Protocol Exploited, Upwards of $285 Million Stolen
Solana-based perpetuals DEX Drift Protocol has suffered an exploit impacting more than $200 million in funds.
- DecryptScore: 85
Watch Out Bitcoin: Cryptography-Breaking Quantum Computers May Be Closer Than Expected, Says Caltech
Research suggests fault-tolerant quantum machines could arrive sooner than expected, posing a threat to Bitcoin and Ethereum cryptography.
- CoinDeskScore: 85
These catalysts could bump bitcoin as Trump hands three-week target to end Iran war
Asian stocks surged 4% and S&P 500 futures jumped after Trump said the conflict could conclude without a deal with Tehran, while Morgan Stanley's newly approved bitcoin ETF at 14 basis points opens a $6.2 trillion advisory channel.
- The BlockScore: 85
US indicts 10 foreign nationals for alleged crypto wash trading scheme
US juries indicted 10 executives and employees at Gotbit, Vortex, Antier, and Contrarian for allegedly conducting wash trading.
- The BlockScore: 85
Crypto hack, exploit losses reach $52 million in March: PeckShield
A significant portion of the losses came from an exploit on Resolv Labs, which lost $25 million worth of USR stablecoins.
- CointelegraphScore: 85
Fed’s Barr invokes Panic of 1907 in warning on stablecoin rules
US Fed Governor Michael Barr said clearer US rules could help the market grow, but warned that GENIUS Act implementation must still guard against runs, weak reserves and illicit finance.
- CointelegraphScore: 85
Australia passes digital asset bill bringing crypto platforms under licensing
Australia passes a law requiring crypto exchanges and custodians to obtain financial services licenses as the country moves to regulate digital asset platforms.
- CoinDeskScore: 85
The Protocol: Quantum computing could break Bitcoin sooner, says Google
Also: OpenAI raises $122 billion, crypto ecosystems diverging post-quantum strategies, and Base’s 2026 roadmap.
- CointelegraphScore: 85
Drift Protocol warns users to pause deposits amid 'unusual' trading activity
The reported incident could be a $200 million exploit of the decentralized crypto exchange due to a leak of a crypto wallet private key.
- CointelegraphScore: 85
US Treasury seeks public input for state-level stablecoin regulations
The Treasury published its notice of proposed rulemaking as the market capitalization of dollar-pegged stablecoins neared $300 billion.
- CoinDeskScore: 80
Some quantum-resistant tokens jump 50% as Google flags risks to Bitcoin security
The so-called quantum-resistant coins rally as traders switch to potential long-term security.
- The BlockScore: 80
Australia passes bill requiring financial licenses for crypto platforms
The bill mandates that digital asset platforms and tokenized custody platforms hold an Australian Financial Services Licence.
- CoinDeskScore: 80
OpenAI raises a record $122 billion as revenue crosses $2 billion per month
The funding round, anchored by Amazon, Nvidia, and SoftBank, is the largest private funding in history.
- CointelegraphScore: 80
Franklin Templeton deepens crypto push with CoinFund spinoff deal
Franklin Templeton has agreed to acquire CoinFund spinoff 250 Digital to launch Franklin Crypto, a dedicated crypto arm targeting institutional crypto investment management.
- DecryptScore: 80
Agencies Must Create Clear Prediction Market Rules to Avoid FTX-Style ‘Implosions’: CFTC Chair
Michael Selig argued that prediction markets operating offshore in “unregulated space” could lead to an FTX-style collapse.
- CointelegraphScore: 80
CFTC chair says agency is ready to oversee entire crypto market
Michael Selig summarized his first 100 days overseeing the commodities regulator since being confirmed by the US Senate in December.
- CoinDeskScore: 80
Solana DeFi platform Drift investigates suspicious activity, tells users to halt deposits
The platform halted deposits while it investigates suspicious activity and urges users to proceed with caution.
- CoinDeskScore: 80
Citadel-backed EDX Markets applies for U.S. trust charter to expand institutional crypto services
The Citadel-backed exchange is seeking approval to offer custody and asset services as institutional demand grows.
- The BlockScore: 80
Charles Schwab, Citadel-backed EDX joins list of crypto firms seeking national trust bank charter
Crypto organizations to have applied for the charter include Bridge, Ripple, Circle, BitGo, Fidelity Digital Assets, and Paxos.
- CointelegraphScore: 75
EDX seeks OCC trust bank charter for institutional crypto custody
The crypto exchange seeks a charter from the Office of the Comptroller of the Currency to separate custody from trading and expand services under a regulated banking framework.
- CointelegraphScore: 75
Bitcoin, stocks soar as markets respond to chance of US and Israel-Iran war ending
Bitcoin held gains above $68,000 as investors leaned into news that the US and Iran were ideating ways to end the war. Will markets hold their newfound bullishness?
- The BlockScore: 75
New Hampshire authority to issue $100 million bitcoin-backed bond with speculative-grade rating from Moody’s
BitGo will serve as custodian and liquidation agent responsible for liquidating bitcoin to make interest and principal payments.
- CointelegraphScore: 75
US brings 10 alleged crypto market manipulators to court after extradition
Extraditions of executives from market makers Vortex, Contrarian, Gotbit and Antier mark the latest step in a multi‑agency effort targeting alleged “market‑manipulation‑as‑a‑service.”
- CoinDeskScore: 75
Bitcoin ETFs post first monthly inflows since October as price stabilizes
ETF AUM fell just 7% from the October highs, highlighting resilience despite a 50% price decline.
- The BlockScore: 75
Franklin Templeton agrees to buy CoinFund spinoff to expand crypto investment offering: WSJ
Following the close of the deal, its new crypto arm will be called Franklin Crypto, with strategies focused on institutional investors.
- CointelegraphScore: 75
Strategy set to resume buying Bitcoin via STRC: Will BTC price hit $80K?
Michael Saylor's Strategy has raised funds to purchase at least 1,111 BTC this week, increasing the odds of sending prices higher in April.
- DecryptScore: 75
Franklin Templeton to Buy CoinFund Spinoff, Build Out Crypto Investment Offering
Global asset manager Franklin Templeton is acquiring a CoinFund spinoff to build out its own crypto wing, Franklin Crypto.
- DecryptScore: 75
Bitcoin Gets Its First Bond Rating as Moody's Grades New Hampshire Deal
Moody's has rated a New Hampshire Bitcoin-backed bond—a first for BTC as direct bond collateral.
- CryptoSlateScore: 75
Bitcoin looks ready to break $70k — but one group decision keeps capping the rally
Bitcoin is pushing back toward $70,000 as macro pressure eases, but each attempt is still being sold into. The market is improving on the outside while failing to resolve a key internal constraint. Macro relief improves the backdrop as Bitcoin meets a crowded zone above $70,000 Bitcoin has opened Ap...
- The BlockScore: 70
eToro rolls out crypto trading in New York three years after receiving BitLicense
Andrew McCormick, head of eToro U.S., said it was the first firm to receive a BitLicense in 2023 following the collapse of FTX.
- CointelegraphScore: 70
New Hampshire’s Bitcoin-backed bond gets Moody's rating
Moody's assigned a provisional Ba2 rating to New Hampshire’s bond project, placing it below investment grade, as it cited Bitcoin’s volatility.
- The BlockScore: 70
Bitcoin posts worst first quarter since 2018, falling 24%
Analysts said long-term conviction in bitcoin is still intact, noting that the decline is more cyclical than fundamental.
- CryptoSlateScore: 70
Why didn’t Google’s new quantum research focus on banking or nuclear codes instead of Bitcoin?
On Mar. 30, Google Quantum AI published a 57-page whitepaper coauthored with Justin Drake of the Ethereum Foundation and Dan Boneh of Stanford. The paper demonstrates that breaking the 256-bit elliptic-curve discrete logarithm problem, the cryptographic foundation underlying most blockchain transact...
- DecryptScore: 70
DOJ Charges 10 Foreign Nationals Over Crypto ‘Wash Trading’ Scheme
Federal grand juries have indicted ten individuals tied to alleged pump-and-dump schemes, following an FBI undercover operation.
- CryptoSlateScore: 70
Bitcoin traders cheer April’s historic gains, yet one Fed calendar date could flip this rally overnight
Bitcoin price started April back above $68,000 after a late-March relief rally tied to hopes that the Iran war could move toward de-escalation. According to CryptoSlate's data, the flagship digital asset gained more than 3% in the last 24 hours to reach as high as $69,170 before retreating to about ...
- CointelegraphScore: 70
CoinShares stock makes US debut on Nasdaq following SPAC merger
Shares of the European crypto asset manager are set to start trading today, marking a venue shift as digital asset companies navigate a weaker market backdrop.
- DecryptScore: 70
Crypto Fund Manager CoinShares Begins Trading on Nasdaq via SPAC Deal
European crypto asset manager CoinShares positions for U.S. expansion as institutional players consolidate market share against Wall Street giants.
- CointelegraphScore: 70
Bitcoin snaps 5-month losing streak: Key BTC price levels to watch in April
Bitcoin ended its longest monthly losing streak since 2018 with a green March candle, sparking hopes of a powerful rebound similar to past cycles.
- CoinDeskScore: 70
Franklin Templeton launches crypto division with 250 Digital acquisition
The asset manager is creating a new “Franklin Crypto” unit to expand beyond ETFs and target institutional demand for active digital asset strategies.
- The BlockScore: 70
Bitcoin miner Cango secures financing as NYSE delisting looms amid low stock price
NYSE-listed Cango raised a total of $75 million from a strategic investment and a convertible note financing deal.
- CryptoSlateScore: 70
Bitcoin breaks from M2 liquidity trend as dollar strength overrides global money growth
Bitcoin is no longer responding to rising global liquidity the way it did in the last cycle. Even as money supply expands, a stronger dollar is tightening financial conditions faster than liquidity can lift prices. Bitcoin traders love one chart more than almost any other: global M2 liquidity with a...
- The BlockScore: 70
Hong Kong misses March target for first stablecoin licenses
Hong Kong authorities are pushing applicants to refine application details before granting stablecoin license approvals.
- DecryptScore: 70
Fed's Barr Says Stablecoins Need Tighter Controls to Fight Money Laundering
The Fed governor has previously said that stablecoins risk undermining the U.S. central bank’s credibility.
- CointelegraphScore: 70
Pro-crypto PAC to be headed by Tether executive ahead of US midterms
A debate over stablecoin yield, likely to impact Tether, is underway in the US government as lawmakers consider a market structure bill.
- CointelegraphScore: 65
Crypto exchange Bithumb to delay IPO until after 2028: Report
According to the company CFO, Bithumb was “strengthen[ing] accounting policies and internal controls” ahead of its IPO plans, already delayed from 2025.
- CoinDeskScore: 65
Hong Kong hasn’t issued a single HKD stablecoin license after March target
Officials flagged March for initial approvals, but licensing has yet to begin with no updated timeline
- The BlockScore: 65
SBI Holdings’ B2C2 designates Solana as primary stablecoin network for institutional clients
Institutional liquidity provider B2C2 will now route and settle large-scale stablecoin transactions for its institutional clients on Solana.
- CointelegraphScore: 65
Bitcoin ETFs post $1.3B in March inflows, first monthly gain of 2026
US spot Bitcoin ETFs ended Q1 in the red, with about $500 million of net outflows despite March inflows, as sentiment remained weak amid geopolitical tensions.
- CoinDeskScore: 65
Crypto rebounds as oil dips on Trump comments, but derivatives signal weak conviction
Bitcoin and ether rise alongside altcoins, yet muted open interest suggests the rally may rely on spot demand and short covering rather than strong leverage.
- DecryptScore: 65
Algorand, Stable Lead Double-Digit Altcoin Surge as Bitcoin Tops $69K
Experts cite portfolio rebalancing and geopolitical easing as driving the crypto market rally, though caution persists.
- CoinDeskScore: 65
Brazil's B3 exchange to offer bitcoin-linked 'event contracts' for the ultra-rich
The contracts are regulated by Brazil's securities regulator and designed for professional investors with at least 10 million reais ($1.9 million) in assets.
- CryptoSlateScore: 65
Tether hired top HSBC gold traders, then cut them weeks before auditors arrive
Paolo Ardoino said that Tether wanted to allocate 10% to 15% of its $20 billion proprietary investment portfolio to physical gold. Two days later, Tether reported more than $10 billion in profit for 2025 and $6.3 billion in excess reserves. The company had already poached two precious metals traders...
- CryptoSlateScore: 65
Bitcoin’s support system broke in Q1 — and the buyers that used to hold it up stepped back
With the first quarter of 2026 over, Bitcoin’s weak showing looks less like a single crypto-specific break and more like the product of a market that spent the past months under growing macro and geopolitical pressure. As Q1 closed out on March 31, Bitcoin was trading near $66,280 and down about 24%...
- DecryptScore: 65
Ripple Launches Treasury Management System with Native Digital Asset Capabilities
The novel platform allows CFOs and their treasury teams to manage fiat and digital assets in a single system, Ripple said.
- CoinDeskScore: 65
Jamie Dimon signals JPMorgan entry into prediction markets as competition surges
JPMorgan is weighing a move into prediction markets as crypto firms, startups and rivals like Goldman Sachs race to dominate the fast-growing sector.
- DecryptScore: 65
The Quantum Threat to Bitcoin Dividing Crypto
Two papers published this week have reignited debates about the risk posed by “Q-day” to the cryptography that underpins digital assets.
- CointelegraphScore: 65
Naoris launches post-quantum blockchain as quantum security risks gain attention
Naoris Protocol has launched a post-quantum layer-1 blockchain designed to protect transactions against future cryptographic vulnerabilities.
- CointelegraphScore: 60
Hyperliquid whale makes $80M bet on market crash: Is Bitcoin in trouble?
A Hyperliquid DEX whale has placed an $80 million bet that Bitcoin will crash and oil will rally, but data show this trader has lost millions in the past.
- CryptoSlateScore: 60
Crypto faces a new risk as Iran threatens major US companies in the Middle East
What looks like a geopolitical threat aimed at US multinationals could quickly become a crypto story too. That is because several of the companies threatened by Iran now sit inside the infrastructure, payments, and corporate treasury layers that parts of the digital-asset industry rely on. According...
- CointelegraphScore: 60
Researchers say quantum computers could, in theory, be ready by 2030
New research from Caltech and Oratomic, a Caltech-linked startup say quantum computers of the future may be closer to reality.
- CointelegraphScore: 60
CFTC’s top enforcer puts prediction market insider traders on notice
“There’s a myth in mainstream media and social media that insider trading doesn’t apply in the prediction markets … That is wrong,” said CFTC enforcement director David Miller.
- CointelegraphScore: 60
Bitcoin’s drawdown is ‘less dramatic’ this cycle, Fidelity says
A shallower Bitcoin trench than previous cycles "indicates a maturing market with reduced volatility and stronger institutional confidence," said Nick Ruck, director of LVRG Research.
- CoinDeskScore: 60
Uniswap Foundation held $85.8M at year-end, committed $26M in grants during 2025
Unaudited financials show the DeFi protocol's foundation had runway through January 2027 before the UNIfication governance overhaul passed in late December.
- The BlockScore: 60
Uniswap Foundation projects funding runway through January 2027 as treasury reaches $85.8 million
Uniswap Foundation disclosed $85.8 million in assets and projected funding through 2027 while ranking high among monthly DeFi fees.
- CoinDeskScore: 60
Bitcoin’s crashes are shrinking, and Wall Street is starting to notice
Not all analysts agree that further drawdowns are over, as Bloomberg Analyst Mike McGlone insists the crypto bubble is over and bitcoin could still revisit $10,000.
- The BlockScore: 60
OpenEden issues first tokenized access to BNY’s Global Short-Dated High-Yield Bond strategy
OpenEden launches HYBOND token offering onchain access to BNY Investments’ Global Short-Dated High-Yield Bond strategy.
- CointelegraphScore: 60
Ripple adds digital asset support to treasury management platform
The update adds digital asset accounts and real-time visibility tools for corporate finance teams managing liquidity across systems.
- DecryptScore: 60
Cambodia Extradites Alleged Huione Crypto Scam Kingpin to China: Report
Chinese authorities have arrested Li Xiong, former chairman of Huione Group, linked by U.S. regulators to billions in illicit crypto flows.
- CoinDeskScore: 60
Galaxy Digital's testnet suffers hack but no client funds or information were compromised
Mike Novogratz’s crypto financial services firm said unauthorized access was limited to a segregated R&D workspace; trading systems and client accounts were unaffected.
- DecryptScore: 55
These Three Altcoins Just Got Leveraged Crypto ETFs
Volatility Shares, the company that launched the first leveraged crypto fund in the U.S., is expanding its roster to smaller digital assets
- CointelegraphScore: 55
Hong Kong misses March target for first stablecoin licences
Hong Kong’s first stablecoin licences failed to materialize by the expected end of March target, with the HKMA saying only that it is still advancing the process.
- CointelegraphScore: 55
Why Meta is choosing partners over power in its 2026 stablecoin push
Meta’s 2026 stablecoin push favors partnerships over issuing its own coin. Here is why the company is choosing infrastructure and distribution instead.
- The BlockScore: 50
Bithumb crypto exchange stretches IPO timeline to 2028
Bithumb is extending its IPO runway as it works through internal fixes while rival Upbit works on its own public listing.
- CointelegraphScore: 50
Bitfarms loss widens to $285M as Bitcoin fell, but shares jump anyway
Bitfarms said it was impacted by a decline in Bitcoin prices last year. The company is now five months into its pivot from Bitcoin mining to HPC and AI.
- CoinDeskScore: 50
Bitcoin is closer to its 'buy zone' than it's been in three years
The gap between bitcoin's spot price and realized price is compressing toward levels that historically marked cycle bottoms, but the on-chain data shows the capitulation that typically precedes those bottoms hasn't happened.
- CoinDeskScore: 50
Here's why bitcoin's parabolic era may be over
Bitcoin’s price retraces to old highs, signaling slower growth and a maturing market.
- CoinDeskScore: 50
Grayscale’s research head says tokenization will happen in waves and explains how to play it
Investors looking to bet on tokenization should think in phases, with institution-friendly networks like Canton likely winning first and Avalanche, Ethereum capturing more upside later, Grayscale's Zach Pandl said.
- The BlockScore: 50
Bitcoin traders show ‘aggressive caution’ heading into typically low-volume Easter period: K33
Bitcoin defensive positioning is building into a potential Easter-driven slowdown, according to analysts at K33.
- CoinDeskScore: 50
Cango raises capital as it faces NYSE delisting risk with shares below $1
The bitcoin miner issued a $10 million convertible note and closed a $65 million insider-led round while racing to regain compliance with exchange rules.
- The BlockScore: 50
Crypto super PAC names Tether exec chairman as stablecoin debate in D.C. intensifies
The debate over stablecoin rewards seems to be the final stumbling block to Congress passing the Clarity Act.
- The BlockScore: 50
Treasury issues GENIUS Act rule proposal, seeks comment on state oversight for smaller issuers
Members of the public will have 60 days to respond to the Treasury’s notice of proposed rulemaking in the Federal Register.
- The BlockScore: 50
Paradigm mulls prediction market entry with trading terminal, market making desk: Fortune
Paradigm founder and Kalshi board member Matt Huang has previously said that prediction markets represent a trillion-dollar opportunity.
- CointelegraphScore: 40
Solana DEX volumes drop to 2024 lows: Will SOL hold $80 as support?
Solana’s declining DEX volumes raise the likelihood of a SOL price correction to $75, but the network’s DApp revenue highlights its resilience.
- CoinDeskScore: 40
XRP holds $1.34 as supply tightens but price fails to break higher
Record outflows and rising scarcity suggest accumulation, yet failure to break higher keeps setup unresolved.
- CointelegraphScore: 40
E-commerce giant Mercado Libre to sunset rewards-based Mercado Coin: Report
The closure of Mercado Coin doesn't mark the end of Mercado Libre's crypto rewards strategy as it still offers the Meli Dolar (MUSD), a US-dollar stablecoin which launched in 2024.
- CointelegraphScore: 40
Dorsey shares AI-integrated workplace vision weeks after Block’s 40% staff cut
Block cut 4,000 of its staff in February as part of its AI-driven pivot. A new post by Block's Jack Dorsey has shed light on how the company and others might operate in the future.
- CoinDeskScore: 40
Smart money is hedging bitcoin more aggressively than ether :Crypto Daybook Americas
Your day-ahead look for April 1, 2026
- CointelegraphScore: 40
Gen Z turns Bitcoin into a solid portfolio diversifier
Gen Z embraces Bitcoin despite acknowledged volatility. Younger investors treat crypto risk as portfolio diversification rather than pure speculation.
- CointelegraphScore: 40
Who is Kevin Warsh? Trump’s Fed pick wants ‘regime change’ at central bank
US President Donald Trump nominated Kevin Warsh to lead the Fed, but the financier’s plans to lower interest rates may come up against hard economic realities and a split board.
- CointelegraphScore: 40
Token voting is crypto’s broken incentive system
Token voting fails crypto governance with low participation and whale dominance. Decision markets price conviction to fix broken DAO incentives.
- CointelegraphScore: 40
Nakamoto Bitcoin sale could signal industry-wide DAT contagion: Analyst
The value of the Bitcoin treasury company's holdings peaked at over $711 million in October 2025, when BTC hit an all-time high of about $126,000.
- The BlockScore: 40
Monad tops $350 million TVL milestone as low fees, falling FDV signal caution
Monad still accounts for less than 0.4% of the approximately $91 billion total TVL tracked across all chains.
- The BlockScore: 35
Stablecoin card issuing infrastructure platform Kulipa raises $6.2 million seed round
Kulipa helps fintechs and wallets issue white-label stablecoin payment cards without managing card operations themselves.
- CoinDeskScore: 30
Jack Dorsey says AI should replace the middle manager after Block cuts 4,000 jobs
Dorsey's plan strips out middle management, with AI handling coordination, product decisions, and internal alignment.
- CoinDeskScore: 30
CoinDesk 20 performance update: Avalanche (AVAX) gains 4% as index moves higher
Hedera (HBAR), up 3.6% from Tuesday, was also among the top performers.
- The BlockScore: 30
Zodia Markets CEO Usman Ahmad departs, co-founder Nick Philpott named interim CEO
Ahmad had led the firm since its founding in 2021, when it launched as a joint partnership between SC Ventures and OSL Group.
- CoinDeskScore: 30
Crypto Long & Short: Governance is the real Layer 1
In this week’s Crypto Long & Short Newsletter, Nilmini Rubin writes on the challenge facing crypto and traditional markets to create a hybrid, shared governance structure. Then, Meredith Fitzpatrick covers how financial institutions must fundamentally rethink AML risk as crypto and TradFi converge.
- CointelegraphScore: 30
Warren Buffett bought $17B in US T-bills: A bad omen for Bitcoin price?
Buffett called the recent US stock market dip “nothing” versus past 50% crashes, signaling more downside for risk assets like Bitcoin in 2026.
- DecryptScore: 30
Google's Veo 3.1 Lite Cuts API Costs in Half as OpenAI's Sora Exits the Market
Google's cheapest video model yet targets developers burned by high generation costs, arriving just days after OpenAI pulled the plug on Sora.
- DecryptScore: 20
Elon Musk’s SpaceX Files Confidentially for Record-Breaking $1.75 Trillion IPO
Elon Musk’s rocket company has confidentially submitted IPO paperwork to U.S. regulators, potentially setting up one of the largest public listings in history.
- CoinDeskScore: 20
Strategy's STRC keeps dividend payout steady at 11.5% after seven straight increases
The perpetual preferred yield holds at 11.5% for April as the 30-day volume weighted average price stabilizes near $100.
- CointelegraphScore: 20
Price predictions 4/1: BTC, ETH, BNB, XRP, SOL, DOGE, HYPE, ADA, BCH, LINK
Technical charts show Bitcoin and altcoins on the verge of a bullish trend reversal, but Bitcoin’s resistance at $69,000 could cap the current upward momentum.