Stablecoins Just Lit the Fuse

PLUS: Tether Is Going Straight for the Checkout Button

February 27th, 2026

Welcome back to The Warmup.

Happy Friday. This is how people respond when you ask why they’re still holding crypto.

Here’s what we’re watching:

  • Market Snapshot

  • Stablecoins Just Lit the Fuse

  • BTC Point of Interest for New Longs

  • Tether Is Going Straight for the Checkout Button

CRYPTO
BitcoinBitcoin$66,197.00 -2.52%
EthereumEthereum$1,961.25 -5.04%
SolanaSolana$83.05 -5.21%
MACRO
S&P 500S&P 500$6,908.86 -0.54%
NasdaqNasdaq$22,878.38 -1.18%
Dow JonesDow Jones$49,499.20 +0.03%
GoldGold$5,230.20 +1.04%
DXYDXY$97.83 +0.05%
VIXVIX21.38 +14.76%
Data is provided by CoinGecko and Yahoo Finance.

Market: Risk off creeping in. Crypto down, volatility up.

Stablecoins Just Lit the Fuse

What’s going on:

Circle just posted a monster quarter. USDC supply hit $75.3B, up 72% YoY, while transaction volume surged to $11.9T (+247%). Revenue came in at $770M (+77%) and EBITDA exploded 412%.

Markets reacted instantly.

CRCL jumped 35%.

What it means:

The key signal: stablecoin adoption is accelerating even while crypto majors are still below their highs. Dollars are moving onchain regardless of price action.

This doesn’t confirm a full bull reversal yet.

But with stablecoins booming and sentiment still washed out, the setup for a crypto bounce is getting stronger.

Not full risk-on… but the pressure is building.

BTC Point of Interest for New Longs

What’s going on:

BTC is pulling back into a stacked demand zone after rejection. We’re watching for a bullish reaction before considering new longs.

If buyers defend, continuation is on the table. If not, lower liquidity sits below.

Key levels we’re watching:

  • Support: $66K

  • Support 2: $65K

  • Support 3: $64K–$63K

  • Resistance: $68.5K

  • Breakout target: $70K+

  • Breakdown risk: Acceptance below $63K

Directional Bias: Neutral → bullish on confirmation

What we’re waiting for:

  • Bullish reaction in zone

  • Structure reclaim

  • Volume on bounce

  • Tight risk management

Tether Is Going Straight for the Checkout Button

What’s going on:

Tether just invested $200M into digital marketplace Whop to push stablecoins into everyday commerce.

Whop will integrate Tether’s wallet stack, letting its 18M+ users hold and pay directly in USDT and USAT, no banks or card rails needed.

The platform is already moving serious volume, with users earning ~$3B annually and activity growing ~25% month over month.

The new capital will fund expansion across Latin America, Europe, and Asia-Pacific.

What it means:

Stablecoins are quietly becoming the default payment rail for the internet.

Between Circle’s surge and Tether embedding into consumer platforms, dollars are clearly moving onchain at scale.

The stablecoin land grab is accelerating… and we’re still early.

ETH:
Vitalik Buterin published a post-quantum Ethereum roadmap targeting four vulnerable layers.

HYPE:
173k HYPE ($4.9M) will be given to the team on March 6 for the March unlock.

BTC:
Bitcoin ETFs saw another $254M in inflows on Wednesday, while the ETH ETFs put up $7M in net inflows.

PENGU:
Announced new Pengu claw machines now live in select Urban Air locations in the USA.

Closing thoughts:

Stablecoins are no longer just crypto plumbing, they’re becoming core internet infrastructure.

Circle’s explosive growth and Tether’s push into consumer platforms both point to the same trend: digital dollars are scaling regardless of market cycles.

If this momentum continues, payments (powered by AI agents) could be the next major adoption wave for crypto.

— The Warmup Team

Always do your own research. This newsletter is supplemental material to help educate readers as they make their own decisions. Projects mentioned here are provided to give a potential early-mover advantage.