Ndax Weekly TL;DR Mar 23

• Bank of Canada Holds Rate at 2.25% as Oil-Driven Inflation Risks Clash With Weak Growth
• US Senator Says Crypto Market Structure Bill Is Close to Passing Despite Delays
• SEC Approves Nasdaq Pilot for Trading and Settling Tokenized Securities

The Bank of Canada left its key interest rate unchanged at 2.25% on March 18, saying it is balancing rising inflation risks from higher oil prices against signs of softness in the domestic economy. Governor Tiff Macklem said the bank would look through the immediate inflation impact of the Middle East conflict, but warned it would act if higher energy costs began spreading more broadly through the economy. Economists largely expected the hold, and several said the combination of weak labour data and elevated uncertainty makes rate hikes less likely in the near term, even as the oil shock complicates the outlook. Yahoo Finance

Senator Cynthia Lummis said lawmakers are nearing agreement on a long-debated crypto market structure bill, with negotiations progressing on key issues such as VRCA yield and regulatory definitions. She noted that disagreements between the banking and crypto sectors have slowed progress, though a compromise may be reached soon. While some elements, including provisions related to decentralized finance, appear resolved, the bill still faces procedural steps in the Senate, with a potential markup expected after the Easter recess. Cointelegraph

The SEC has approved Nasdaq’s proposal to allow certain securities to trade and settle in tokenized form, marking a step toward integrating blockchain infrastructure into U.S. equity markets. Under the framework, eligible participants can choose to settle trades as blockchain-based tokens while those securities continue to trade alongside traditional shares with the same ticker, price and investor rights. The approval supports a pilot involving the Depository Trust Company and reflects growing interest from major exchanges in using tokenization to modernize how traditional financial assets are issued, traded and settled. CoinDesk

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News Nuggets

• Canada Revokes Dozens of Crypto Business Registrations in Ongoing Enforcement Push Cointelegraph
• Fed Holds Interest Rates Steady as Middle East Conflict Adds to Economic Uncertainty Cointelegraph
• FTX Recovery Trust to Distribute $2.2 Billion to Creditors in Latest Payout CoinDesk
• Crypto Gift Card Platform Bitrefill Links March Hack to North Korea-Linked Group Cointelegraph
• Animoca Brands Backs Ava Labs Partnership to Expand Avalanche in Asia and the Middle East Cointelegraph
• UK Lawmakers Call for Temporary Ban on Crypto Donations to Political Parties The Block

As of 03-23-2026 at 9:20 AM EST

Market Summary

• Over the past seven days, the global cryptocurrency market capitalization has decreased from CA$3.45 trillion to CA$3.31 trillion.
• Bitcoin's market dominance stands at 58.5%, while Ethereum's share is 10.7%. 

Performance

• Over the past 24 hours, the price of BTC has fluctuated between CA$92K and CA$97K registering a 3.45% change over the past week and a market cap of CA$1.9 trillion. At Ndax, the weekly movers are QNT, which saw a 5.59% increase in the last seven days reaching a market cap of CA$1.4 billion, and CELO, which experienced a 2.55% rise with a market cap of CA$255 million. (At time of writing) 

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