Nexo co-founder Antoni Trenchev spoke alongside President Donald Trump at a Bulgarian press event on Sunday.
The crypto market started the week on a tepid note as its market cap registered a marginal decline, remaining around $2.95 trillion. Markets were positive, with Bitcoin (BTC) and Ethereum (ETH) registering marginal increases. Ripple (XRP) and Solana (SOL) were more bullish, registering notable increases. SOL is attempting to regain $150 after slipping below the level over the weekend. Dogecoin (DOGE) is up over 1%, while Cardano (ADA) is up almost 3%, trading at $0.711. Chainlink (LINK) is up 1.13%, while Stellar (XLM) also registered a marginal increase. Toncoin (TON) , Hedera (HBAR) , Polkadot (DOT), and Litecoin (LTC) also registered marginal increases. World Liberty Financial Founders Meet Changpeng Zhao World Liberty Financial founders met with Binance co-founder and former CEO Changpeng Zhao to discuss crypto adoption and industry standards. World Liberty Financial announced the meeting on its official X handle, stating that founders Zach Witkoff, Zak Folkman, and Chase Herro met with Zhao in Abu Dhabi to discuss crypto adoption and innovation. The meeting is part of World Liberty Financial’s ongoing efforts to penetrate new markets. “WLFI’s founders @ZachWitkoff @zakfolkman @WatcherChase met with @cz_binance, the founder of Binance, to talk about growing global adoption, setting new standards, and pushing crypto to the next level. This is just the beginning.” World Liberty Financial has registered substantial interest from institutional players. DWF Labs, a leading market maker, and Web3 investment firm announced the purchase of $25 million worth of WLFI governance tokens as part of its US expansion strategy. World Liberty Financial holds just over $102 million in crypto assets, including 22.7 million USD Coin, $15.1 million in Wrapped Bitcoin, 13.9 million in Ethereum, and 9.93 million in Tron. SEC Commissioners Urge Overhaul Of Crypto Custody Regulations United States Securities and Exchange Commission (SEC) Commissioners Mark Uyeda, Caroline Crenshaw, and Hester Pierce, along with Chairman Paul Atkins, took part in the Crypto Task Force’s third roundtable on April 25 in Washington DC. The roundtable focused on the issue of crypto asset custody. During the meeting, Commissioner Uyeda emphasized the importance of regulatory clarity and urged the SEC to allow registered investment advisors to use state-chartered limited-purpose trust companies as qualified custodians. He also warned against regulatory uncertainty, stating, “The position of the prior administration that ‘most crypto assets’ are likely to be funds or securities has led many advisers to shoehorn all client crypto assets into qualified custody, and thereby forego certain investment opportunities that are incompatible with these custodial arrangements.” Uyeda also called for reforms to the special purpose broker-dealer regime, stressing the need for competitive custodial solutions that comply with federal law. “I agree with Commissioner Peirce that a large number of crypto assets are not securities. But the term ‘funds’ is not defined in the Custody Rule and the Commission may need to clarify whether any crypto assets constitute ‘funds’ for purposes of the rule.” Meanwhile, Commissioner Crenshaw talked about the risks of deviating from existing protections, stating, “If the SEC were to create a dual-regime, how do we ensure the crypto regime is as robust as the current regime? Additionally, how could the Commission address increased risks to investors and the broader financial system that may stem from different crypto custody rules.” She also warned that blockchain-specific risks, such as smart contract failures, hacking risks, and difficulty establishing control over digital assets, must be considered when making regulatory adjustments. Commissioner Crenshaw stressed that custody rules are critical in establishing market trust and stability, warning that shifting standards without regulatory safeguards could expose investors to unnecessary risks. Meanwhile, Commissioner Pierce called for smarter and more flexible regulations that reflect the realities of blockchain technology. “Our regulatory approach should recognize the differences across crypto assets. Qualified custodians exist for some crypto assets, but for others, self-custody might be the safer option.” XRP ETF Gets SEC Greenlight ProShares has announced it will launch three XRP-tracked investment products this week after receiving tacit approval from the United States Securities and Exchange Commission. These products include an Ultra XRP ETF (2x leverage), a Short XRP ETF, and an Ultra Short XRP ETF (2x leverage). However, there has been no movement on its spot XRP ETF. The SEC has acknowledged it has received several XRP spot ETF applications. ProShares ETF approvals come after Teucrium’s 2x XRP ETF began trading earlier this month. The ETF became the first XRP ETF in the US and has registered over $5 million in trading volumes. CME Group also recently announced the addition of XRP futures to its largest derivatives exchange in the US alongside BTC, ETH, and SOL investment products. Bitcoin (BTC) Price Analysis Bitcoin (BTC) began trading flat during the week as it struggled to build momentum and test resistance at $95,000. Selling pressure saw the flagship cryptocurrency tumble to a low of $92,927 as sellers attempted to overwhelm support levels. However, BTC rebounded from its low to reclaim $94,000. Price action has gained momentum as it pushes towards $95,000. BTC is trading around $94,750 at the time of writing as it attempts to cross $95,000. Analysts believe BTC could surge to all-time highs in May as institutional investors returned, leading to surging inflows and growing investor confidence. The flagship cryptocurrency has shown resilience, holding above $93,000. Investor confidence improved further thanks to a record $3.1 billion in net inflows to spot Bitcoin ETFs over the past five days. Willy Woo, a prominent on-chain Bitcoin analyst, was optimistic about Bitcoin’s outlook, stating, “BTC fundamentals have turned bullish, not a bad setup to break all-time highs. Capital flows into the network are ramping up. Both total and speculative flows have bottomed, when both align they join forces to make a bullish environment anchored in fundamentals.” Woo noted that speculative interest had returned while fundamental investment strengthened the market. “Our medium-term targets of 90K and 93K have been taken out. The 108K target is still in play with a new interim target of 103K forming.” However, a key BTC derivatives metric has shown bearish signals, leading to speculation whether $100,000 is still realistic. Perpetual Bitcoin futures contracts are favored by retail traders because their prices closely track spot markets. According to analysts, negative funding rates are highly unusual during a bull market as they indicate strong seller demand. Additionally, Bitcoin has strengthened its reputation as an independent asset after Gold failed to capitalize on its all-time high. The price chart shows that BTC is consolidating under the $95,000 mark. The flagship cryptocurrency faces considerable resistance at this level. BTC crossed the 50-day SMA on Thursday (April 17) but fell back in the red on Friday, settling at $84,518 after a marginal decline. The price recovered over the weekend, rising almost 1% on Saturday to reclaim $85,000 and settle at $85,033. Buyers retained control on Sunday as BTC registered a marginal increase and ended the weekend at $85,224. BTC registered an increase of almost 3% on Monday, surging past $87,000 and settling at $87,508. Bullish sentiment intensified on Tuesday as BTC rallied nearly 7% to reclaim $90,000 and settle at $93,373. Source: TradingView However, the rally stalled on Wednesday after encountering selling pressure at higher levels. Despite this, BTC registered a marginal increase and settled at $93,749. The price fell to an intraday low of $91,693 on Thursday as sellers attempted to overwhelm support levels. BTC rebounded from this level to reclaim $94,000 and settle at $94,009. Buyers retained control on Friday as BTC raced to an intraday high of $95,865 before settling at $94,776, ultimately registering an increase of almost 1%. BTC lost momentum over the weekend, registering a marginal decline on Saturday and then falling 0.99% on Sunday to settle at $93,802. The current session sees BTC up over 1% and trading at $94,919, on the verge of claiming $95,000. Analysts believe BTC can surge past $100,000 this week if it maintains momentum. Ethereum (ETH) Price Analysis Ethereum (ETH) continues to face resistance around $1,800 - $1,850, preventing a breakout. A break above this level could signal a potential rally. The world’s second-largest cryptocurrency traded sideways for most of the previous week as it struggled to push higher. Meanwhile, in a positive development for ETH, Grayscale Investment representatives met with members of the US Securities and Exchange Commission Task Force to advocate for changes to staking regulations tied to Ethereum ETPs. ETH’s price action was muted towards the end of the previous week, registering marginal increases on Thursday and Friday to settle at $1,588. The price continued to push higher on Saturday, rising 1.51% to reclaim $1,600 and settle at $1,612. However, it lost momentum on Sunday, dropping almost 2%, slipping below $1,600 and settling at $1,586. ETH reached an intraday high of $1,656 on Monday. It lost momentum after reaching this level and dropped to $1,579, ultimately registering a marginal decline. Price action turned bullish on Tuesday as markets rallied. As a result, ETH surged over 11%, crossing the 20-day SMA and reclaiming $1,700 to settle at $1,757. Source: TradingView Buyers retained control on Wednesday as the price rose over 2% to $1,796. However, ETH lost momentum after reaching this level thanks to selling pressure and dropped 1.40% on Thursday, settling at $1,770. The price recovered on Friday, rising almost 1% to $1,786. ETH continued to push higher on Saturday, registering an increase of nearly 2% to cross $1,800 and settle at $1,821. However, it was back in the red on Sunday, dropping almost 2%, slipping below $1,600 and settling at $1,792. The current session sees ETH up over 1%, having reclaimed $1,800 and trading around $1,810. Solana (SOL) Price Analysis Solana (SOL) is trading at a critical level after a week of volatility, which saw prices surge across the crypto market. SOL registered a substantial increase as well, surging past $140 and reaching an intraday high of $156 before declining. The Ethereum killer is trading at a critical level, with analysts divided about its trajectory. The next few weeks are decisive for SOL, with one analyst stating that markets will have a clearer idea if SOL’s rebound is a bear market bounce or the beginning of a new bull market expansion. SOL has been hit hard since January, losing 65% of its value during its most recent downtrend. The decline highlighted the growing selling pressure and speculation across the crypto market. SOL crossed the 50-day SMA towards the end of the previous week, rising over 4% on Wednesday and 2.57% on Thursday to settle at $134. Despite the positive sentiment, the price fell on Friday, registering a marginal decline. Bullish sentiment returned on Saturday as SOL rose over 4% and settled at $139. However, selling pressure returned on Sunday as the price fell 1.44% to $137. Sellers retained control on Monday as SOL fell almost 1% after reaching an intraday high of $142, ultimately settling at $136. Source: TradingView Bullish sentiment returned on Tuesday as markets rallied. As a result, SOL surged almost 9% to cross $140 and settle at $148. The price continued to push higher on Wednesday, rising 1.59% to claim $150 and settle at $151. SOL plunged to an intraday low of $145 on Thursday as sellers attempted to overwhelm buyers. However, the price rebounded from this level to register an increase of almost 1% and settle at $152. SOL lost momentum after reaching this level, dropping 1.10% to $150. Bearish sentiment persisted over the weekend as SOL dropped 1.08% on Saturday and 0.84% on Sunday, slipping below $150 and settling at $148. The current session sees SOL up over 2%, having reclaimed $150 and trading at $151. The bulls face pressure to defend current levels and keep SOL above $140. According to analysts, SOL must reclaim $180 to resume the bullish trend. A break above $180 could open the door for a move towards $200 and higher resistance levels. Ripple (XRP) Price Analysis Ripple (XRP) is showing strength as it trades above the 20, 50, and 200-day moving averages, up almost 7% over the past 24 hours after the SEC gave ProShares the green light for three XRP ETFs. XRP’s recent breakout suggests that its consolidation phase may be ending as investor optimism grows. Buyers will look to extend gains and push the price beyond $2.50, potentially reaching $3. XRP’s price action was muted after a significant price jump of over 6% on Tuesday, which saw the price rise to $2.21. However, with sellers active at this level, the rally lost momentum, and XRP could only register a marginal increase on Wednesday. XRP turned bearish on Thursday, falling to a low of $2.11 before settling at $2.20, ultimately registering a drop of 0.61%. Sellers retained control on Friday as XRP dropped 1.03% to $2.18. Source: TradingView However, sentiment changed over the weekend, and XRP registered a marginal increase on Saturday and moved to $2.19. Bullish sentiment intensified on Sunday as XRP rose almost 3% to $2.25. The current session sees XRP up nearly 4% and trading at $2.33. Buyers will look to maintain control and push the price to $2.50. A break above this level could see XRP rise to $3. Bittensor (TAO) Price Analysis Bittensor (TAO) continued its march towards $400, becoming one of the biggest gainers in crypto over the past two weeks. TAO’s upward trajectory began on Thursday (April 17) when it rose almost 8% to $248. The price continued to push higher on Friday, rising over 10% to cross the 50-day SMA and settle at $273. Buyers retained control over the weekend as TAO rose 6.06% on Saturday and almost 9% on Sunday, crossing $300 and settling at $315. Bullish momentum stalled on Monday as the price encountered volatility and selling pressure. Sellers ultimately gained the upper hand as TAO registered a marginal decline and settled at $314. Source: TradingView However, it was back in positive territory on Tuesday, rising nearly 8% to $338. Despite strong positive momentum, TAO was back in the red on Wednesday, dropping almost 1% to $336. The price registered an increase of 6.41% on Thursday but was back in the red on Friday, dropping 1.07% to $354. TAO continued to drop on Saturday, falling to a low of $337 before settling at $349, ultimately registering a drop of 1.42%. Bullish sentiment returned on Sunday as the price rose 3.36% and settled at $360. The current session sees TAO up over 4% and trading at $375. Buyers will look to continue TAO’s upward trajectory and push the price towards $400. Polkadot (DOT) Price Analysis Polkadot (DOT)’s rally has stalled in recent sessions as it struggles to go above $4.50. DOT’s latest push towards $4.50 began on Wednesday (April 16) when it rose 1.14% to $3.56. The price continued to push higher on Thursday and Friday, rising 2.25% and 0.82% to settle at $3.67. Bullish sentiment intensified on Saturday as DOT surged almost 6%, crossing the 20-day SMA and settling at $3.88. DOT could not register any movement on Sunday and ended the weekend at $3.88. DOT fell into the red on Monday, dropping almost 3% to $3.77. Bullish sentiment returned on Tuesday as the price surged over 6% to reclaim $4 and settle at $4.01. Source: TradingView Buyers retained control on Wednesday as DOT rallied to an intraday high of $4.20. However, it lost momentum after reaching this level and settled at $4.08, ultimately registering an increase of 1.75%. The price fell to an intraday low of $3.93 on Thursday as selling pressure intensified. However, DOT rebounded from this level to register an increase of almost 5% to reclaim $4 and settle at $4.27. Price action was muted on Friday and Saturday as DOT registered a marginal decline and a marginal increase to settle at $4.27. Bearish sentiment intensified on Sunday as DOT plunged over 4% to $4.09. DOT has recovered during the ongoing session, with the price up almost 4% and trading at $4.25. Algorand (ALGO) Price Analysis Algorand (ALGO) started the previous week on a bearish note, registering a marginal decline on Sunday. The price reached an intraday high of $0.203 on Monday. However, it could not stay at this level and dropped to $0.192, ultimately registering a marginal decline. Market sentiment changed on Tuesday as ALGO surged almost 9%, crossing the 50-day SMA and reclaiming $0.20 to settle at $0.209. Buyers retained control on Wednesday as the price reached an intraday high of $0.221 before settling at $0.213, ultimately registering an increase of 1.99%. Source: TradingView Bullish sentiment intensified on Thursday as ALGO rose 5.54% to $0.225. The price continued to push higher on Friday, rising 1.25% to $0.228. Despite the positive momentum, ALGO lost momentum over the weekend, registering a marginal drop on Saturday and falling 2.99% on Sunday to end the weekend at $0.221. The current session sees ALGO up over 4% and trading at $0.230. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
Bitcoin (BTC) is increasingly cementing its place as a hedge against political instability and monetary uncertainty, according to market commentary from crypto trading firm QCP Capital. QCP Says Bitcoin’s Hedge Role Strengthens as Call Option Activity Increases According to QCP, investors purchased over 500 BTC-30MAY25-104K-C (options expiring on May 30 with a strike price of $104,000) and over 800 BTC-27JUN25-135K-C (options expiring on June 27 with a strike price of $135,000) on Friday alone. This intense buying activity indicates that further upward movements are expected if Bitcoin continues its rise. QCP also noted that Bitcoin’s current rally is “fundamentally healthier than previous cycles” and is driven by macroeconomic concerns, particularly global political tensions and an increasingly complex monetary policy environment, rather than speculative frenzy. Bitcoin has recently returned to positive territory for the year, trading around $95,000, on the back of strong ETF inflows and its increasing correlation with gold, which is perceived as a safe-haven asset. The recent surge in bullish options positions comes amid heightened volatility in global markets as tariff hikes, central bank policy uncertainty and election-year risks prompt investors to seek alternative stores of value. *This is not investment advice. Continue Reading: Bitcoin Report from Cryptocurrency Trading Company QCP Capital: ''Investors Expect a Rise in May and June!'' Here Are the Details
Have you ever wondered how Bitcoin truly behaves in the volatile world of finance? Is it more like traditional safe havens, or does it mirror the often-bubbly tech sector? Recent data offers a compelling answer, suggesting a significant shift in Bitcoin correlation dynamics that could redefine how investors view the leading cryptocurrency. Understanding Bitcoin Correlation: Gold vs. Tech Stocks The relationship between different assets in financial markets is often measured by their correlation. A correlation of 1.0 means they move perfectly in sync, -1.0 means they move in opposite directions, and 0 means there’s no consistent relationship. According to CoinDesk, recent analysis over a 30-day moving average reveals a fascinating trend: Bitcoin (BTC) and Gold: Exhibiting a strong positive correlation of 0.70. Bitcoin (BTC) and Nasdaq 100: Showing a moderate positive correlation of 0.53. What does this mean? Essentially, over this recent period, Bitcoin’s price movements have been more closely aligned with those of gold than with the top tech stocks represented by the Nasdaq 100 index. This data point isn’t just a number; it reinforces a powerful narrative that has long surrounded Bitcoin: its potential as a Bitcoin digital gold . The Bitcoin Digital Gold Narrative: Why the Comparison? The idea of Bitcoin being ‘digital gold’ isn’t new. It stems from several perceived similarities between the two assets: Scarcity: Both have a limited supply. Gold mining is difficult and yields finite amounts, while Bitcoin has a hard cap of 21 million coins that can ever be mined. This inherent scarcity is often cited as a key driver of value, especially in inflationary environments. Durability & Portability: While gold is physically durable, Bitcoin is digitally durable and incredibly portable. You can move vast sums of Bitcoin across the globe in minutes, something impossible with physical gold. Decentralization: Gold is a globally accepted asset not tied to any single government or central bank. Bitcoin operates on a decentralized network, free from control by any single entity. Store of Value: Historically, gold has served as a store of value, preserving wealth across generations. Proponents argue Bitcoin can serve a similar purpose in the digital age, protecting against currency devaluation. The recent correlation data provides quantitative support for this narrative, suggesting that in the current economic climate, investors might be treating Bitcoin less like a speculative tech play and more like a hedge asset, similar to gold. Bitcoin vs Gold vs Tech Stocks: A Comparative Look Let’s break down the typical characteristics and drivers of these three distinct asset classes to better understand their relationships. Feature Bitcoin (BTC) Gold Tech Stocks (Nasdaq 100) Primary Narrative/Use Case Digital Store of Value, Medium of Exchange (emerging), Decentralized Asset Physical Store of Value, Industrial Use, Jewelry Growth Potential, Company Earnings, Innovation Supply Fixed (21 million cap) Finite (difficult to extract) Variable (based on company issuance) Typical Correlation Driver (Historical) Market Sentiment, Adoption, Macro Uncertainty (sometimes), Tech Sector (sometimes) Macro Uncertainty, Inflation Fears, Interest Rates, Safe Haven Demand Economic Growth, Interest Rates, Corporate Earnings, Innovation Cycles Volatility Very High Moderate High (especially growth stocks) Accessibility Digital Exchanges (24/7) Physical (bullion, coins), ETFs, Futures (market hours) Stock Exchanges (market hours) Historically, Bitcoin’s correlation with both gold and tech stocks has fluctuated significantly. Early in its history, Bitcoin often moved independently. As it gained mainstream attention, it sometimes showed correlation with risk-on assets like tech stocks. The recent data suggests a potential shift towards the safe-haven characteristics often associated with gold, particularly during periods of economic uncertainty. Bitcoin’s Resilience Amidst Economic Uncertainty The original snippet mentions economic uncertainty driven by geopolitical factors. During such times, traditional financial theory suggests investors often flock to safe-haven assets like gold, which are expected to retain or increase in value during market turbulence. The fact that Bitcoin demonstrated strong resilience and price appreciation during a period of reported uncertainty, alongside its high correlation with gold, lends further credence to the idea that it’s acting as a digital hedge. This performance contrasts with how highly correlated tech stocks might behave in such environments, which can be more susceptible to economic downturns or changes in investor risk appetite. The divergence in correlation highlights a potential evolution in how the market perceives and values Bitcoin, positioning it closer to a store-of-value asset than purely a high-growth, high-risk technology investment. Crypto Market Analysis: Implications for Investors What does this shifting crypto market analysis mean for you as an investor? The observed correlation patterns offer several key insights: Benefits: Diversification Potential: If Bitcoin continues to show a low-to-moderate correlation with traditional assets like tech stocks and a higher correlation with safe havens like gold, it could potentially serve as a valuable diversification tool in a portfolio, offering exposure to different market drivers. Alternative Safe Haven: For investors seeking alternatives to traditional safe havens like gold or certain government bonds, Bitcoin might be considered, especially given its digital nature and ease of transfer. Challenges: Correlation Isn’t Static: It’s crucial to remember that correlations are dynamic and can change rapidly based on market conditions, global events, and investor sentiment. A high correlation today doesn’t guarantee the same tomorrow. High Volatility: Despite acting more like gold in terms of correlation during this specific period, Bitcoin remains significantly more volatile than gold or even most large-cap tech stocks. This high volatility presents both opportunity and risk. Nascent Asset Class: Bitcoin and the broader crypto market are still relatively young compared to gold and stocks, meaning their long-term behavior and correlations are still being established. Actionable Insights: Monitor Correlations: Don’t rely on historical data alone. Keep an eye on current correlation trends using reliable financial data providers. Understand Your Risk Tolerance: Even if Bitcoin is showing safe-haven characteristics, its inherent volatility means it should still be considered a high-risk asset. Allocate capital accordingly. Consider Your Investment Goals: Are you seeking growth, capital preservation, or diversification? Understanding this will help you determine if Bitcoin fits into your strategy, regardless of its correlation profile at any given moment. Look Beyond Correlation: While correlation is a useful metric, fundamental analysis of Bitcoin (e.g., adoption rates, technological developments, regulatory environment) and macro-economic factors are equally important. What Drives These Shifting Correlations? Several factors can influence why Bitcoin vs gold and Bitcoin vs tech stocks correlations change: Macroeconomic Environment: High inflation, interest rate changes, recessions, or geopolitical instability can push investors towards or away from riskier assets like tech stocks and towards perceived safe havens like gold and potentially Bitcoin. Institutional Adoption: Increased interest and investment from large financial institutions can change Bitcoin’s market dynamics, potentially aligning it more with traditional asset classes. Regulatory News: Government regulations or lack thereof can significantly impact market sentiment and correlations. Market Maturity: As the Bitcoin market matures, its behavior may become more predictable or align more closely with established asset classes. Investor Sentiment: Broad shifts in how retail and institutional investors perceive Bitcoin (e.g., as digital gold, a tech innovation, or pure speculation) directly impact its price action and correlations. The Future Outlook: Will the Trend Continue? Predicting future correlations is challenging. The observed 0.70 correlation with gold is a snapshot in time, representing a 30-day period. It doesn’t guarantee this trend will persist indefinitely. However, as global economic uncertainty remains a factor and the awareness of Bitcoin’s finite supply grows, it’s plausible that the ‘digital gold’ narrative could continue to gain traction, potentially maintaining or even strengthening its correlation with gold during certain market phases. Conversely, periods of strong economic growth and high risk appetite might see Bitcoin’s correlation with tech stocks increase again as investors favor growth assets. The key takeaway is that Bitcoin’s role in a portfolio is evolving, and understanding its changing relationships with other major asset classes like gold and tech is vital for informed decision-making. Conclusion: Bitcoin’s Evolving Identity The recent data showing Bitcoin’s stronger correlation with gold compared to tech stocks provides compelling evidence that the ‘digital gold’ narrative is resonating within the market, particularly during times of economic uncertainty. While Bitcoin remains a highly volatile asset, its increasing tendency to move in tandem with gold, traditionally seen as a safe haven, suggests a potential shift in its market perception. For investors, this highlights Bitcoin’s complex and evolving identity – not just a tech-driven growth asset, but potentially a valuable, albeit volatile, component for diversification and a hedge against traditional financial risks. Staying informed about these dynamic correlations and understanding the underlying drivers is essential for navigating the future of the crypto market analysis . To learn more about the latest Bitcoin and crypto market trends, explore our articles on key developments shaping Bitcoin price action and institutional adoption.
According to recent analysis from COINOTAG News, April 28th, Bitcoin is exhibiting significant volatility, with critical thresholds identified for potential long and short liquidations. Data from Coinglass indicates that if
Pudgy Penguins has surged by 24% in the past 24 hours, with its move to $0.01295 also marking a massive 156% gain in a week. This comes as the crypto market as a whole drops by 1% today, with PENGU’s weekly return making it the best-performing top-200 coin in the last seven days. Many analysts have only just begun jumping on the Pudgy Penguins hype train, with some saying that its bull market hasn’t even really started . And with the coin still 81% down on its ATH of $0.06845 (set in December), it still has plenty of space to rise even further in the coming weeks and months. Pudgy Penguins Explodes 156% – Why Analysts Say the Rally Is Far From Over – Price Prediction Some traders are suggesting that Pudgy Penguins is getting ready to reach its ATH, with some arguing that it could happen sooner rather than later. these mfs are building a religion while the rest still chasing rugs if you aint locked in with $pengu by now you might as well log off cuz this one going above ath sooner than you think be smart mf pic.twitter.com/pGxfK9gfah — heinous (𝒔𝒄𝒉𝒊𝒛𝒐 𝒂𝒓𝒄) (@Arcane_Crypto_) April 27, 2025 Aside from pure hype, some analysts have highlighted Pudgy Penguins’s use of NFTs as a key factor in why it will outperform during the current cycle. Because it’s a popular collection of 8,888 NFTs, its native token PENGU will in theory attract more usage than meme coins without any obvious utility, boosting its price over time. And it seems that traders are piling back into PENGU, after the wider market began recovering last week amid signs of a thawing in the recent tariff war between the US and China. Its chart today shows that it’s at its highest level in terms of momentum since it listed back in December. For instance, its relative strength index (purple) has risen to 80, which puts it firmly in overbought territory. Source: TradingView At the same time, its 30-period average (orange) has jumped well above the 200-period average (blue), which indicates that buying is maybe getting too hot right now. Yet the obvious comeback to this is that PENGU is still 81% below its record high of $0.06845, so it’s possible to argue that it still isn’t really overbought. Based on this, and based on the hope that the US and China continue to climb down from their recent tit-for-tat tariffs, the Pudgy Penguins price could reach $0.015 in the next couple of weeks. It could then hit $0.30 by the fourth quarter of the year. New Altcoin Set to Soar as the Market Heats Up PENGU looks like one of the most promising coins in the top 200 right now, yet it won’t be the only new alt doing well as and when the wider market continues its recovery. There are also numerous newer tokens that are showing lots of potential at the moment, including several presale coins with bullish fundamentals. One good example of this is Best Wallet Token (BEST) , which has raised $11.8 million in its highly popular sale. The Best Wallet airdrop is closing soon and now’s the time to lock in as many $BEST points as you can! Keep completing quests, connect your wallet if you haven’t already, and push for maximum rewards before the airdrop closes. GO GO GO https://t.co/eGBbWWJMeP pic.twitter.com/3XY0hrVL1p — Best Wallet (@BestWalletHQ) April 26, 2025 BEST is the token of the popular Best Wallet app, which since launching in 2023 has now grown to serve 250,000 monthly active users. Holding BEST will provide a range of benefits to Best Wallet users, including discounts on transaction fees, greater staking yields, governance rights, and early access to new tokens. These perks will help to draw new users to Best Wallet, which in turn will draw users to BEST, helping to boost the token over the longer term. It’s also worth pointing out that Best Wallet’s official X account has just over 64,000 followers , a sign of how big the app and its native token could become in the future. These ingredients mean that BEST is shaping up to be one of the biggest coin launches of 2025, with investors still able to buy it early at the Best Wallet Token site . BEST is now selling at $0.02395, but this price will rise again in a couple of days, so traders should act quickly. The post Pudgy Penguins Explodes 156% – Why Analysts Say the Rally Is Far From Over – Price Prediction appeared first on Cryptonews .
TL;DR Pi Network (PI) fell by 3% in the past seven days, potentially weighed down by massive token unlocks and a lack of fresh support from major exchanges. Some analysts predict a potential rebound, while others have warned that dealing with the asset could lead to painful losses. Missing the Green Wave The cryptocurrency market has been on an evident uptrend in the past week. Bitcoin (BTC) is up almost 10% for the period, currently trading at around $95,000, whereas Ethereum (ETH) saw its valuation rise by 11.5%. Very few of the top 50 digital assets remain in the red on a seven-day scale, and unfortunately for the Pi Network community, their favorite token is one of those. As of this writing, PI is worth roughly $0.61, which is a 3% weekly decline. What’s more, the current level represents an 18% drop for the last two weeks. PI Price, Source: CoinGecko It is worth mentioning that the asset started retracing in mid-April, right after the major release of almost 7 million tokens. The unlocks remained in the millions in the following weeks and are expected to speed up even further in the upcoming days. Data shows that over 230 million PI will be freed up in the next month, with April 30 being the record day when 11.3 million tokens will be released. Events like these typically lead to higher selling activity, as investors finally get the opportunity to sell coins they’ve been waiting for a long time . Although some holders may stay put, the danger of a mass exit still looms. Another factor that may have negatively impacted PI’s price is the lack of new support from leading crypto exchanges. Well-known names that have already embraced the asset include Gate.io, OKX, Bitget, and others. However, Binance and Coinbase remain uninvolved. The former issued a community vote in February to determine whether its users want to see PI available on the platform. While more than 85% clicked the “yes” option, there hasn’t been a follow-up announcement. Price Predictions Despite the retreat registered in the past weeks, certain X users continue to make optimistic predictions. MOON JEFF, who often touches upon the matter, recently forecasted that PI could rise to $1. Interestingly, at the beginning of the month, he labeled Pi Network “a slow rug,” suggesting that the token’s potential ascent to $1 is “just a dream.” Kuzo also shared their thoughts, claiming PI “doesn’t look good” based on investigations conducted over the past month. “People will lose millions or even billions of dollars. It’s worse than you could’ve imagined. If you’re still holding, think twice. I’ll drop my investigation soon , make sure you’re following,” they added. The post Pi Network (PI) Misses the Rally: Is Further Trouble Brewing? appeared first on CryptoPotato .
In a significant development within the blockchain sphere, the Trump-endorsed cryptocurrency initiative, WLFI, has entered into a formal Memorandum of Understanding with Pakistan. This alliance aims to foster innovation and
The world of decentralized finance and applications hinges significantly on the underlying blockchain’s capacity. For Ethereum, the leading smart contract platform, this capacity is largely dictated by the Ethereum gas limit . Recently, a groundbreaking proposal has emerged that could dramatically reshape Ethereum’s future scaling potential, promising a massive increase in throughput. Understanding the Ethereum Gas Limit and Why it Matters Before diving into the specifics of the new proposal, let’s quickly recap what the Ethereum gas limit is. Think of gas as the fuel needed to execute operations on the Ethereum network. Every transaction, every smart contract interaction, requires a certain amount of gas. The gas limit is the maximum amount of gas that can be spent per block. This limit is dynamically adjusted by validators based on network conditions, but there’s a hard cap voted on by the network. Why is this limit so crucial? It directly impacts how many operations (and thus, how many transactions) can fit into a single block. A higher gas limit means more operations per block, leading to potentially higher ETH transactions per second (TPS) for the base layer. However, increasing the gas limit also means larger blocks, which require more resources (processing power, storage, bandwidth) from the nodes running the network. This balance is critical for network health and decentralization. EIP-9698: Unpacking Dankrad Feist’s Ambitious Proposal The recent buzz surrounds a proposal put forth by prominent Ethereum researcher Dankrad Feist . Known as EIP-9698 , this plan outlines an ambitious strategy to increase the network’s gas limit by a factor of 100 over a four-year period. According to reports, the phased rollout is slated to begin in June 2025. Here are the key details of the EIP-9698 proposal: Starting Point: The proposal targets a gradual increase beginning mid-2025. Phased Growth: Instead of a single, large jump, the gas limit would increase tenfold every two years. Four-Year Horizon: The full 100x increase would be achieved by the end of the four-year period. Target Limit: If implemented, the gas limit could eventually reach an astounding 3.6 billion per block. This step-by-step approach is designed to give the ecosystem time to adapt, addressing concerns about sudden increases in node requirements. Boosting ETH Transactions Per Second: The Promise of Massive Scaling The primary motivation behind increasing the Ethereum gas limit is to enhance the network’s capacity for Ethereum scaling . By allowing significantly more gas per block, the base layer could theoretically handle a much higher volume of activity. Dankrad Feist ‘s proposal suggests that reaching a gas limit of 3.6 billion could enable the base layer to process up to 2,000 ETH transactions per second . To put this in perspective, Ethereum’s current base layer capacity is significantly lower, often cited as around 15-30 TPS, although this varies based on transaction complexity and network conditions. This potential boost in ETH transactions per second could have several positive impacts: Improved User Experience: Faster transaction confirmations and potentially lower base transaction costs (though overall gas price is also dependent on demand). Enhanced dApp Performance: Decentralized applications could operate more smoothly and handle more users directly on Layer 1. Increased Network Utility: A higher capacity network is better equipped to handle growing demand from various use cases like DeFi, NFTs, and gaming. While Layer 2 solutions are crucial for scaling, a higher L1 gas limit can complement these by providing a more robust base layer for settlement and data availability. Navigating the Challenges of a Higher Ethereum Gas Limit While the prospect of a 100x increase in the Ethereum gas limit is exciting for Ethereum scaling , it’s not without its challenges. The most significant concern revolves around node requirements. As the gas limit increases, block sizes grow proportionally. This means: Increased Bandwidth: Nodes need to download and upload larger blocks faster. Higher Processing Power: Verifying larger blocks with more transactions requires more CPU power. Greater Storage: Storing the blockchain history with larger blocks demands more disk space over time. These increased demands could potentially make it more difficult and expensive for individuals to run full nodes, raising concerns about centralization. If only well-resourced entities can afford to run nodes, the network could become less decentralized, which is a core tenet of Ethereum. However, the gradual nature of EIP-9698 is specifically designed to mitigate this. By increasing the limit tenfold every two years, the proposal aims to provide hardware manufacturers, node software developers, and node operators sufficient time to research, develop, and deploy necessary upgrades to handle the increased load. This contrasts with previous discussions or proposals that might have suggested more immediate, significant jumps. Context: This Isn’t the First Ethereum Scaling Discussion It’s important to note that discussions around increasing the Ethereum gas limit are not new. The current proposal by Dankrad Feist follows a separate, more immediate suggestion to raise the gas limit to 150 million by the end of this year. This indicates an ongoing desire within the community to explore ways to increase L1 throughput. Furthermore, this proposal exists within the broader context of Ethereum scaling efforts, which heavily rely on Layer 2 solutions like rollups (Optimistic and ZK-rollups). Layer 2s bundle transactions off-chain and settle them on Layer 1, dramatically increasing effective TPS. A higher L1 gas limit can benefit Layer 2s by providing more space for data availability and settlement proofs on the base layer, potentially lowering L2 costs. The debate isn’t necessarily L1 scaling versus L2 scaling, but rather how they can best work together to achieve the necessary capacity for mass adoption. Proponents of increasing the L1 gas limit argue that a stronger base layer is essential, while others prioritize pushing most activity to Layer 2s to preserve L1 decentralization. Dankrad Feist’s Vision: A Long-Term Strategy for Ethereum Dankrad Feist ‘s proposal reflects a long-term vision for Ethereum’s capacity. The phased, four-year plan suggests a belief that the ecosystem’s ability to handle increased hardware requirements will naturally evolve with time and technological advancements. It’s a proactive approach to ensure that the base layer doesn’t become an insurmountable bottleneck as the decentralized web grows. His work, often focused on complex areas like cryptography and scaling, lends significant weight to the technical feasibility and implications of such a change. The proposal is now open for discussion within the Ethereum community, where it will be debated, analyzed, and potentially refined before any decision is made about its inclusion in a future network upgrade. Implications for Developers and Users: Adapting to a Scaled Ethereum For Ethereum developers, a higher Ethereum gas limit means new possibilities but also potential adjustments. Smart contracts might need optimization to be more gas-efficient, although the higher limit offers more room. Developers of infrastructure like nodes, block explorers, and wallets will need to ensure their systems can handle larger blocks and higher throughput over time. For users, the change could eventually translate to a more responsive network, although gas fees will still fluctuate based on demand. The potential for higher L1 capacity might also influence the dynamics between L1 and L2 usage. The Road Ahead: Community Consensus and Implementation It’s crucial to remember that EIP-9698 is currently a proposal. Like all significant changes to Ethereum, it must undergo rigorous review, discussion, and testing by the core development community and gain broad consensus among stakeholders. The technical challenges, particularly concerning node requirements and potential centralization risks, will be thoroughly debated. The process involves: Discussion: Open forums and calls among researchers and core developers. Analysis: Simulations and technical analysis of the proposal’s impact. Testing: Implementation on testnets to identify potential issues. Consensus: Agreement among core developers and potentially network stakeholders (though validator signaling for gas limit changes is standard). If accepted, the proposal would be scheduled for inclusion in a future Ethereum network upgrade. Conclusion: An Ambitious Step Towards a Scaled Future Dankrad Feist ‘s proposal to increase the Ethereum gas limit by 100x over four years, starting in June 2025 via EIP-9698 , represents one of the most ambitious base-layer Ethereum scaling initiatives discussed in recent times. By aiming to boost ETH transactions per second to potentially 2,000 on L1, it signals a strong desire to unlock significantly more capacity for the network. While the potential benefits for throughput and user experience are substantial, the proposal also brings significant technical challenges, primarily related to increasing node requirements and the need for ecosystem-wide adaptation. The phased approach is a thoughtful attempt to balance ambition with practicality, providing the necessary time for infrastructure to catch up. The future of Ethereum scaling will likely involve a combination of robust Layer 2 solutions and, potentially, a higher capacity Layer 1. EIP-9698 is a bold step in exploring that latter path, pushing the boundaries of what the base protocol can handle and setting the stage for intense discussion and development within the community as Ethereum continues its journey towards mass adoption. To learn more about the latest Ethereum trends, explore our article on key developments shaping Ethereum scaling and network capacity.
As altcoins rally towards the end of April, investor interest in BNB, Kaspa, and AAVE is intensifying due to significant upcoming upgrades. Market analysts are particularly optimistic about these tokens,