Is your stablecoin feeling a bit unstable? In the fast-paced world of decentralized finance (DeFi), even stablecoins can experience unexpected turbulence. Recently, Synthetix’s sUSD faced a depegging challenge, causing ripples within the crypto community. But fear not, Synthetix is stepping up with an innovative solution: the sUSD 420 Pool . Let’s dive into what this means for SNX stakers and the broader DeFi ecosystem. What’s the Buzz About the sUSD Depegging Issue? Stablecoins, designed to maintain a 1:1 peg with fiat currencies like the US dollar, are crucial for DeFi’s stability. When a stablecoin ‘depegs,’ it means it deviates from its intended value, causing uncertainty and potential losses for holders. sUSD, Synthetix’s native stablecoin, recently experienced such a depegging event. While fluctuations are normal, significant and prolonged deviations can be concerning. This is where Synthetix’s proactive approach comes into play, aiming to swiftly restore confidence and stability in sUSD. Introducing the Hero: The sUSD 420 Pool To tackle the depegging issue head-on, Synthetix founder Kain Warwick announced the launch of the sUSD 420 Pool. Think of this pool as a strategic reserve designed to re-establish and maintain the sUSD peg. But how does it work, and why is it called the ‘420 Pool’? Let’s break it down: Purpose-Built Solution: The sUSD 420 Pool is specifically engineered to address the current depegging of sUSD. It’s not a generic liquidity pool; it’s a targeted intervention. Incentivizing Stability: The core mechanism involves incentivizing SNX stakers to deposit sUSD into the pool. By increasing demand for sUSD, this mechanism aims to push its price back towards the $1 peg. Attractive Rewards: To make it worthwhile for SNX stakers, Synthetix is offering substantial rewards. We’re talking about a whopping 5 million SNX tokens distributed over 12 months! Daily SNX Payouts: According to Synthetix’s announcement on X (formerly Twitter), the daily reward distribution is approximately 13,698.6 SNX. That’s a significant incentive for participants. The ‘420’ Mystery: While the ‘420’ in the name might raise eyebrows and spark internet jokes, it’s likely just a memorable label. There’s no official explanation for the ‘420’ designation, but in the crypto space, sometimes memorable names are just as important as functional details! How Can SNX Stakers Benefit from the 420 Pool? Are you an SNX staker looking for opportunities to boost your holdings? The sUSD 420 Pool presents a compelling option. Here’s a closer look at the potential benefits: Earn Generous SNX Rewards: The primary allure is the chance to earn a share of 5 million SNX. By depositing sUSD, stakers become eligible for daily SNX rewards, effectively earning yield on their stablecoin holdings. Contribute to sUSD Stability: Participating in the pool isn’t just about personal gain; it’s also about contributing to the health of the Synthetix ecosystem. By depositing sUSD, you’re directly helping to restore its peg and ensure its reliability as a stablecoin. Simple Participation: The process is straightforward – SNX stakers deposit sUSD into the designated 420 Pool. The mechanics are designed to be user-friendly, encouraging broad participation. Long-Term Earning Potential: With rewards distributed over 12 months, this isn’t a flash-in-the-pan opportunity. It offers a sustained period for earning SNX, providing a more predictable income stream. Example: Imagine you deposit $10,000 worth of sUSD into the 420 Pool. You become part of the reward distribution mechanism, earning a proportional share of the daily 13,698.6 SNX. Over time, this can accumulate into a significant amount of SNX, especially if SNX’s value appreciates. Addressing the Depegging: Why is it a Priority for Synthetix? Why is Synthetix so focused on resolving the sUSD depegging issue? The answer lies in the fundamental role stablecoins play within DeFi and the Synthetix ecosystem itself. Maintaining User Trust: A depegged stablecoin erodes user trust. Restoring the peg is crucial for reassuring users that sUSD is a reliable and stable asset to hold and transact with. Ecosystem Health: sUSD is integral to the Synthetix ecosystem, used in various synthetic asset (Synths) trading and DeFi applications built on Synthetix. A stable sUSD is essential for the smooth functioning of these applications. Preventing Cascading Effects: Unaddressed depegging can lead to wider market instability. By proactively intervening, Synthetix aims to prevent potential negative ripple effects across the DeFi space. Demonstrating Resilience: Successfully addressing the depegging showcases Synthetix’s resilience and commitment to its ecosystem. It sends a strong message that Synthetix is capable of tackling challenges and prioritizing the stability of its assets. Are There Any Challenges or Risks to Consider? While the sUSD 420 Pool is designed as a solution, it’s important to approach it with a balanced perspective. What are some potential challenges or risks to keep in mind? Market Volatility: The crypto market is inherently volatile. Despite the pool’s incentives, external market forces could still impact sUSD’s price. SNX Price Fluctuations: The rewards are paid in SNX. If the price of SNX drops significantly, the real value of the rewards might decrease, although the number of SNX tokens earned remains constant. Smart Contract Risks: As with any DeFi protocol, there are smart contract risks involved. While Synthetix is a well-established project, smart contract vulnerabilities are always a possibility (though typically mitigated through audits). Opportunity Cost: Staking sUSD in the 420 Pool means locking up those funds. Stakers should consider if there are other potentially more lucrative opportunities elsewhere in the DeFi space. Actionable Insights: Should You Participate in the sUSD 420 Pool? So, should you, as an SNX staker, consider depositing sUSD into the 420 Pool? Here are some actionable insights to help you decide: Assess Your Risk Tolerance: Understand the potential risks and rewards. Are you comfortable with the inherent risks of DeFi and potential SNX price volatility? Evaluate SNX Reward Potential: Consider the current and potential future value of SNX. Do you believe in the long-term prospects of Synthetix and SNX? Diversification Strategy: Think about your overall portfolio diversification. Is allocating a portion of your sUSD holdings to the 420 Pool aligned with your broader investment strategy? Stay Informed: Keep up-to-date with announcements from Synthetix and monitor the performance of the sUSD peg. Follow Synthetix’s official channels and community discussions. Conclusion: A Bold Move Towards Stability Synthetix’s launch of the sUSD 420 Pool is a decisive and urgent step to address the sUSD depegging. By incentivizing SNX stakers to participate, Synthetix is leveraging its community to restore stability and confidence in its stablecoin. For SNX stakers, it presents an attractive opportunity to earn rewards while contributing to the health of the ecosystem. As DeFi continues to evolve, proactive measures like this demonstrate the resilience and adaptability of decentralized protocols in navigating challenges. The sUSD 420 Pool is more than just a quick fix; it’s a testament to Synthetix’s commitment to long-term stability and user trust in the dynamic world of decentralized finance. To learn more about the latest crypto market trends, explore our article on key developments shaping Ethereum price action.
An Aptos community member submitted a proposal on April 18 to slash staking rewards for the network’s native token, Aptos (APT), by nearly 50% The proposal, submitted by a community member called MoonSheisty, aims at reducing reward yields from 7% to 3.79% in a three-month period, aligning Aptos staking rewards with other layer-1 blockchains and encouraging capital efficiency. The proposal has sparked curiosity on X, but early comments on GitHub show some initial resistance. A community member going by ElagabalxNode noted that reducing the staking reward without “compensatory mechanisms like a robust delegation program” could push smaller validators out of the network, thus weakening the Aptos blockchain’s decentralization and long-term resistance. Related: Aptos to accelerate innovation with new tech, investment in India The proposal addresses the validators’ role in the network, stating that Aptos should consider a community validator program to give grants and stake to small validators contributing to the ecosystem.” Aptos was founded in 2021 by a group of former Meta engineers. According to DefiLlama, the Aptos blockchain has a total value locked of $974 million as of April 18, with nearly a $320 million coming from lending protocol Aries Markets. Aptos TVL and other metrics. Source: DefiLlama While high staking rewards can incentivize users to lock up tokens on Aptos, MoonSheisty argues that they may also discourage participation in higher-risk, higher-reward opportunities within the ecosystem, such as restaking, DePIN infrastructure, MEV, and decentralized finance. Staking ‘real reward rates’ vary considerably Staking rewards can vary significantly across blockchains. According to CoinLedger, real returns on the BNB Smart Chain are among the highest at 7.43%, while Cardano offers one of the lowest at just 0.55%. Staking offers multiple benefits: It incentivizes users to lock their tokens on-chain, supports validators and helps secure the network. Rewards work similarly to interest earned on a savings account — but instead of cash, stakers earn crypto, which can fluctuate in fiat value. Related: Coinbase’s Ethereum staking dominance risks overcentralization: Execs From time to time, proposals emerge aiming to modify staking procedures. In June 2024, Polkadot introduced a proposal to reduce the time needed to unstake to just two days. In September, the Starknet community voted to pass a new staking mechanism , while Ethereum co-founder Vitalik Buterin proposed solutions to staking issues a few weeks later. While staking gives the community a true “stake” in the network, there are risks associated with it, including the consolidation of smaller pools into larger ones. This trend can undermine decentralization and weaken the blockchain’s overall resilience. Magazine: Ethereum restaking — Blockchain innovation or dangerous house of cards?
Today commemorates the 13th anniversary of the first altcoin, the crypto asset Namecoin (NMC), whose network debuted on April 18, 2011. Although the token has dimmed over time, the network remains under active development and its proof-of-work (PoW) hashrate ranks among the highest in the crypto ecosystem. While Often Forgotten, the First Altcoin Turns 13
The SEC approved VanEck's new Onchain Economy ETF for cryptocurrency investments. The fund will include stocks from various cryptocurrency-related companies. Continue Reading: SEC Approves VanEck’s Innovative ETF Targeting the Crypto Sector The post SEC Approves VanEck’s Innovative ETF Targeting the Crypto Sector appeared first on COINTURK NEWS .
Key Takeaways: The U.S. SEC will host a crypto custody roundtable on April 25, focusing on broker-dealers and investment advisers. Russia pushes for domestic stablecoins after foreign wallet freezes disrupt transactions. U.S. Senate Democrats propose a bill to limit crypto mining emissions and mandate energy transparency. Global momentum toward clearer crypto regulation continued to build this week as multiple jurisdictions revealed plans to tighten, reshape, or expand their digital asset policies. Regulators in the United States, Russia, and Canada shared updates that could influence their approach to cryptocurrency oversight. SEC Roundtable to Explore Custody and Crypto Regulation The U.S. Securities and Exchange Commission (SEC) unveiled the full agenda and panel lineup for its upcoming crypto roundtable, scheduled for April 25. The event signals a deepening institutional focus on crypto regulation, particularly around asset custody standards and investor protections. The roundtable will be split into two key sessions: “Custody Through Broker-Dealers and Beyond” and “Investment Adviser and Investment Company Custody.” These topics address how custodians of crypto assets should be regulated under U.S. securities laws. Zach Zweihorn, a partner at Davis Polk & Wardwell LLP, will moderate the discussions. The roundtable will begin with opening remarks from Richard Gabbert, Chief of Staff for the SEC’s Crypto Task Force, along with senior SEC figures including Acting Chairman Mark Uyeda, Commissioner Caroline Crenshaw, and Commissioner Hester Peirce. The @SECGov held its second crypto roundtable on Friday, with Acting Chair Mark Uyeda proposing temporary rules for blockchain trading while long-term frameworks are crafted. #CryptoRegulation #SEC https://t.co/lYCzMpHSLw — Cryptonews.com (@cryptonews) April 11, 2025 The discussions are expected to influence future SEC guidance on custody rules, especially as crypto continues to blend with traditional finance through broker-dealer models and investment advisers. Russia Urged to Build Homegrown Stablecoins A senior Russian finance official called for the development of domestic stablecoins following a clampdown on USDT wallets linked to the country. Russia should issue its own stablecoins after USDT freezes exposed reliance on foreign assets, top Finance Ministry official says. #Russia #Stablecoins https://t.co/CvZGWTnLxZ — Cryptonews.com (@cryptonews) April 17, 2025 The statement follows U.S.-based stablecoin issuer Tether freezing several wallets associated with Russian users, causing disruptions in cross-border digital payments. Osman Kabaloev, deputy head of the Financial Policy Department at Russia’s Finance Ministry, said the incident showed the risks of relying on foreign-issued tokens. Speaking to reporters on Wednesday, Kabaloev emphasized the need for Russia to build its own stablecoin infrastructure to maintain financial sovereignty and reduce external dependencies. The comments reflect Russia’s broader efforts to circumvent Western sanctions through alternative financial channels, with stablecoins and central bank digital currencies (CBDCs) playing an essential role in that strategy This pivot toward sovereign digital tools could reshape the country’s approach to crypto regulation in the years ahead. Senate Proposal Adds Environmental Layer to Crypto Regulation Meanwhile, environmental concerns surrounding cryptocurrency mining have prompted new legislative action in the U.S. Senate. Senators Sheldon Whitehouse and John Fetterman introduced the “Clean Cloud Act of 2025” last week , a bill aimed at reducing emissions from crypto mining and data center operations. Democratic Senators Sheldon Whitehouse and John Fetterman drafted the bill, seeking to curb emissions from crypto mining and AI data centers. #BitcoinMining #AIDataCenter #CryptoMiningBill https://t.co/jsPWgiEPPe — Cryptonews.com (@cryptonews) April 14, 2025 The proposed law would fine mining facilities that continue to use non-renewable energy sources beyond 2035. Additionally, it requires facilities consuming more than 100 kilowatts of power to report energy usage, electricity sources, and emissions data annually. “There is a lack of transparency regarding the energy sources used to power domestic crypto mining and many data center operations,” the draft legislation states. If passed, the bill would alter the cost structures and operational models of crypto mining firms in the United States, pushing them toward cleaner energy sources or out of the country altogether. Canada Leads with Solana ETFs North of the border, Canada approved North America’s first spot Solana exchange‑traded funds (ETFs) that incorporate staking. Canada becomes the first in North America to approve spot Solana ETFs with staking support, and trading is set to begin April 16. #SolanaETF #Canada https://t.co/nbsSS4fR71 — Cryptonews.com (@cryptonews) April 15, 2025 These ETFs will include staking capabilities , a feature that allows investors to earn rewards by locking up their tokens to support blockchain operations. The Ontario Securities Commission (OSC) approved four issuers—Purpose Investments, Evolve ETFs, CI Financial, and 3iQ—to list Solana ETFs, with trading set to begin on April 16. The funds will hold physical Solana (SOL) and offer staking, making them a rare blend of passive investment and yield-generating blockchain participation. The decision may encourage additional crypto‑based investment products in traditional markets and reinforces Canada’s proactive stance on crypto oversight. Crypto Regulation Tightens as Global Oversight Expands The idea that crypto exists outside the system has become harder to defend. Canada’s ETF approvals reflect financial normalization. The SEC’s custody talks show traditional regulators are no longer avoiding digital assets. And in Russia, token infrastructure is being treated as a matter of national security. Crypto’s next chapter won’t be defined by innovation alone—it will depend on who sets the rules, how they’re enforced, and how global approaches to crypto regulation evolve from here. The post Weekly Crypto Regulation News Roundup: SEC Sets Roundtable, Russia Eyes Stablecoins, and Canada Approves Solana ETFs appeared first on Cryptonews .
Privacy-focused cryptocurrency exchange eXch has confirmed it will officially terminate all operations effective May 1st, following escalating international scrutiny and mounting allegations of its role in laundering funds linked to the February Bybit hack. According to the team, the move comes after internal consensus among its leadership to “cease and retreat” rather than continue under what it described as a hostile operating environment. The shutdown follows the emergence of what eXch claims is an “active transatlantic operation” reportedly targeting the platform with the intent to dismantle its infrastructure and pursue criminal charges. This included accusations of enabling terrorism financing and laundering roughly $35 million in crypto allegedly traced back to North Korea’s Lazarus Group. eXch to Wind Down While the eXch team acknowledged that a small portion of illicit funds may have passed through the platform, they vehemently denied any intentional facilitation of criminal activity. eXch also rejected the characterization of its services as a “mixer,” despite comparisons by on-chain analysts. The platform’s founders criticized the broader crypto compliance landscape, aiming at what they called the “nonsensical policies” of exchanges that rely on third-party AML scoring APIs, which they argue can be easily bypassed and offer little real protection. As the exchange prepares to wind down, it has announced the establishment of a 50 BTC open-source fund to support privacy-preserving financial tools and wallets across various ecosystems, including Bitcoin, Ethereum, and Thorchain. Partners will retain limited access to APIs until the transition of control to a new management group is finalized. “The goals we certainly never had in mind were to enable illicit activities such as money laundering or terrorism, as we are being accused of now. We also have absolutely no motivation to operate a project where we are viewed as criminals. This doesn’t make any sense to us. Originally, we were just a team of privacy enthusiasts with main areas of interest quite distant from cryptocurrency, where we saw the absolutely unfair happenings. This project was an attempt to restore balance in this industry.” Bybit Hack The February Bybit hack, which drained over $1.5 billion in digital assets including stETH and mETH, ranks among the largest thefts in crypto history. Onchain investigators ZachXBT and Nick Bax of Security Alliance had previously alleged that eXch facilitated the laundering of funds stolen in the Bybit hack by North Korea’s Lazarus Group. Additional claims from blockchain analysts and security firm SlowMist support the accusation, which cited Ether transfers from hack-linked wallets. Despite the severe blow, Bybit has managed to regain momentum in the market. As of April 9, analytics firm Block Scholes reported the exchange’s market share had climbed from a low of 4% after the breach to about 7%. This rebound reflected a strong comeback in spot trading volume and overall exchange activity, suggesting the platform is recovering more quickly than many had initially anticipated. The post eXch Collapse: Accused of Laundering Crypto for Bybit Hackers, Platform Bows Out appeared first on CryptoPotato .
The current landscape for Ethereum (ETH) reflects significant sell-side pressure, reminiscent of the tumultuous bear market of 2022. As major holders initiate aggressive distribution cycles, the call for a robust
Are you trying to decipher the cryptic signals of the Bitcoin market? Lately, a fascinating on-chain metric called the Bitcoin RHODL ratio has been making waves, and for good reason. This powerful indicator has just doubled, hinting at a potentially seismic shift in how Bitcoin holders are behaving. Let’s dive deep into what this means for you and the broader crypto landscape. Decoding the Bitcoin RHODL Ratio: A Key to Holder Behavior The Bitcoin RHODL ratio , or Realized HODL Ratio, is a fascinating tool in the world of on-chain analysis. It’s essentially a ratio between the Realized Value of coins held for 1 week to 1 month (representing short-term holders) and the Realized Value of coins held for 1 year to 2 years (representing mid-term holders). This comparison gives us a glimpse into the prevailing sentiment and activity of different Bitcoin holder groups. Think of it as a market sentiment barometer, but instead of relying on surveys, it uses actual blockchain data to gauge the temperature. Here’s a simplified breakdown of what the RHODL ratio helps us understand: Short-term holder activity: The 1 week to 1 month band reflects the actions of newer market participants, often speculators or those reacting to short-term price fluctuations. Mid-term holder accumulation: The 1 year to 2 year band represents holders who have weathered some market volatility and are likely accumulating for a longer-term outlook. Market sentiment shifts: By comparing these two groups, the RHODL ratio can highlight shifts in market sentiment, moving from speculative frenzies to more considered accumulation phases. According to Glassnode, a leading on-chain analytics firm, the Bitcoin RHODL ratio has experienced a significant jump recently. Let’s examine what this doubling actually signifies. Explosive Doubling: What Does a RHODL Ratio of 0.2 Signal? The recent surge in the Bitcoin RHODL ratio from approximately 0.1 in February to over 0.2 by mid-April is not just a minor blip; it’s a doubling that warrants attention. This increase is a significant signal, particularly when viewed in the context of historical market cycles. Here’s what a doubling of the RHODL ratio typically suggests: Decline in Short-Term Speculation: A rising RHODL ratio often indicates that the influence of short-term speculators is waning. This could mean fewer people are rapidly buying and selling Bitcoin based on short-term price movements. Renewed Mid-Term Holder Accumulation: Conversely, an increasing RHODL ratio suggests that mid-term holders, those who have held Bitcoin for 1 to 2 years, are becoming more prominent. This often points to a phase of renewed accumulation, where these holders are adding to their positions. Market Transition Phases: Historically, similar increases in the RHODL ratio have been observed during market transition phases, specifically after major market peaks. Glassnode points out parallels to periods following the 2018 and late 2021 peaks. To better understand the significance, let’s consider a table illustrating typical RHODL ratio ranges and their interpretations: RHODL Ratio Range Interpretation Market Phase Indication Low (e.g., below 0.1) Short-term holder dominance; potential speculative bubble Late Bull Market/Market Top Moderate (e.g., 0.1 – 0.2) Balance between short-term and mid-term holders; transition phase Market Correction/Early Accumulation High (e.g., above 0.2) Mid-term holder dominance; accumulation phase Accumulation/Early Bull Market As you can see, moving from 0.1 to 0.2 places us firmly in the ‘Moderate’ to ‘High’ range, suggesting a shift away from a potentially speculative phase and towards a more accumulation-focused market. But what does this mean for your Bitcoin strategy? Holder Behavior Shift: Actionable Insights for Your Crypto Strategy Understanding the shift in holder behavior , as indicated by the RHODL ratio, can provide valuable insights for your cryptocurrency strategy. It’s not just about observing a metric; it’s about interpreting what it tells us about the market’s underlying dynamics. Here are some actionable insights you can consider: Assess your risk appetite: If the market is transitioning away from short-term speculation and towards accumulation, it might signal a more stable, albeit potentially slower, growth phase. Adjust your risk appetite accordingly. Are you comfortable with long-term holding, or are you primarily focused on short-term gains? Re-evaluate your portfolio allocation: A shift towards accumulation might be a good time to re-evaluate your portfolio. Consider increasing your Bitcoin holdings if you believe in long-term appreciation, as mid-term holders seem to be doing. Look for accumulation opportunities: Market transition phases can present excellent accumulation opportunities. If the RHODL ratio continues to rise, it could indicate a sustained period of accumulation, potentially before the next major bull run. Monitor on-chain metrics: The RHODL ratio is just one of many on-chain metrics. Become familiar with others like the Net Unrealized Profit/Loss (NUPL), MVRV ratio, and reserve risk to get a more holistic view of market conditions. Stay informed: Keep an eye on analysis from firms like Glassnode and other reputable sources that provide on-chain data interpretations. Market conditions are dynamic, and staying informed is crucial. Navigating Market Cycles: Learning from Past Bitcoin Accumulation Phases The comparison to market transition phases after the 2018 and late 2021 peaks is crucial. These historical parallels offer valuable context for understanding the current market cycles and potential future trajectories of Bitcoin. Let’s briefly revisit these past phases: Post-2018 Peak: After the 2018 peak, the Bitcoin market entered a prolonged bear market and accumulation phase. During this time, the RHODL ratio likely showed similar patterns of short-term speculation decline and mid-term holder accumulation before the subsequent bull run. Post-Late 2021 Peak: Following the late 2021 peak, we again saw a market correction and a period of uncertainty. The current increase in the RHODL ratio mirroring patterns seen after these peaks suggests a potential similarity in market behavior and recovery phases. By studying these past cycles, we can observe that periods of increased RHODL ratio, signaling stronger mid-term Bitcoin accumulation , often precede significant market recoveries and bull runs. This historical context reinforces the importance of understanding the current RHODL ratio signal. Challenges and Considerations: Is the RHODL Ratio Foolproof? While the RHODL ratio is a powerful tool, it’s essential to acknowledge its limitations and consider potential challenges: Not a standalone indicator: The RHODL ratio should not be used in isolation. It’s most effective when combined with other on-chain metrics, technical analysis, and fundamental analysis. Market complexity: Cryptocurrency markets are influenced by numerous factors, including macroeconomic conditions, regulatory changes, and technological developments. The RHODL ratio is just one piece of the puzzle. Potential for manipulation: While on-chain data is generally transparent, there’s always a theoretical possibility of sophisticated actors attempting to manipulate metrics, although this is less likely to be impactful on a widely observed metric like RHODL. Interpretation nuances: Interpreting the RHODL ratio requires experience and context. What constitutes a “high” or “low” ratio can evolve over time and with changing market dynamics. Despite these challenges, the RHODL ratio remains a valuable tool for understanding Bitcoin market dynamics, particularly when assessing holder behavior and potential market phase transitions. Conclusion: Decoding Bitcoin’s Holder Behavior for Smarter Crypto Decisions The doubling of the Bitcoin RHODL ratio is a compelling signal that should not be ignored. It points towards a significant shift in market dynamics, away from short-term speculation and towards renewed mid-term holder accumulation. By understanding and interpreting this metric, you can gain a deeper insight into market sentiment and potentially make more informed decisions about your Bitcoin strategy. While no single metric is a crystal ball, the RHODL ratio offers a valuable lens through which to view the ever-evolving landscape of cryptocurrency. Keep monitoring this metric and combine it with other analyses to navigate the exciting, yet complex, world of Bitcoin. To learn more about the latest crypto market trends, explore our article on key developments shaping Bitcoin price action.
The post Official Trump Unlocks 40M Tokens Worth $300M: What Next For TRUMP? appeared first on Coinpedia Fintech News The TRUMP price has dropped 90% from its all-time high, which was recorded three months ago. The latest TRUMP token could weigh down on potential bullish sentiment amid low buying pressure. Official Trump (TRUMP) memecoin unlocked 40 million tokens, worth around $300 million on Friday, April 18. Around 36 million TRUMP tokens, representing 18 percent of the released supply, were allocated to creators and CIC Digital 1. The remaining 4 million TRUMP tokens, representing around 2 per of the released supply, were allocated to creators and CIC Digital 4. Friday’s TRUMP token release follows the January 18th 200 million unlock, worth about $1.5 billion. As a result, TRUMP memecoin has a circulating supply of about 250 million and a maximum supply of 1 billion. Impact of Today’s TRUMP Token Unlock The TRUMP memecoin has gained significant popularity on the Solana network primarily due to its direct affiliation with the U.S. President Donald Trump. The mid-cap memecoin, with a fully diluted valuation of about $7.66 billion and a 24-hour average trading volume of about $278 million, has, however, been trapped in a multi-week falling trend. The latest TRUMP token unlock will weigh down on bullish sentiment in the near future as the dilution from the early investors surges. From a technical analysis, TRUMP’s price is well primed for a bullish rebound in the coming weeks. If Bitcoin (BTC) price leads the wider altcoin market to mirror gold price action, TRUMP price will likely rebound to form a new rising trend. In the four-hour timeframe, TRUMP price, against the U.S. dollar, has been forming a reversal pattern characterized by a triple bottom coupled with bullish divergence of the Relative Strength Index (RSI). A consistent close above the 50-day Moving Average (SMA) will trigger a rally toward the next liquidity range between $9 and $10.
The Aptos blockchain is undergoing significant changes with a new governance proposal aimed at reducing staking rewards in a bid to boost development. This strategic move, co-authored by Aptos Labs’