Victoria, Seychelles, April 30th, 2025, Chainwire As an official sponsor of TOKEN2049 Dubai , global crypto exchange BYDFi has teamed up with industry-leading hardware wallet provider Ledger to release a limited edition co-branded Ledger Nano X. The exclusive wallets made their debut at the TOKEN2049 event, where attendees had the chance to receive them for free through on-site interactive activities. This special edition wallet retains the advanced security features of the original Ledger Nano X, while incorporating custom BYDFi design elements, including visual branding and customized packaging. Symbolizing a deep collaboration on user asset protection and Web3 innovation, the wallet is equipped with a secure element chip, supports the offline storage of a wide range of digital assets, and defends against common forms of cyberattack—offering users an enhanced standard of self-custody. Secure by Design: Ledger x BYDFi Hardware Wallet Makes Its Official Launch The launch drew large crowds to the BYDFi booth at TOKEN2049, where many attendees successfully received the limited edition wallet by completing live interactions. Designed for secure self-custody, the Ledger x BYDFi wallet gives users full control over their private keys and assets, reducing reliance on centralized platforms and elevating personal asset sovereignty. Michael, Co-founder of BYDFi, commented at the event: “TOKEN2049 coincides with BYDFi’s fifth anniversary, making this a milestone moment for us. This collaboration with Ledger reflects our continued commitment to asset security. The limited edition wallet is designed especially for high-net-worth individuals who demand institutional-grade protection for their digital assets.” Expanding Horizons: BYDFi’s Vision for Global Growth and Market Leadership In addition to the co-branded wallet, BYDFi showcased its on-chain trading solution, MoonX , at the event. As a flagship product of BYDFi’s “CEX + DEX” dual-engine strategy, MoonX merges the transparency of on-chain execution with the high-speed performance of centralized systems—delivering an ultra-smooth, seamless trading experience tailored to the rising demands of DeFi users. The launch of MoonX not only expands the boundaries of BYDFi’s trading ecosystem, but also promotes greater diversity in trading methods and empowers users with more choice and flexibility. Looking ahead, BYDFi will continue to strengthen collaborations with global partners and infrastructure providers, accelerating the deployment of innovative products and further solidifying its global service capabilities. About Ledger Nano X The Ledger Nano X is a hardware wallet certified by independent security labs. It features a tamper-proof secure element chip that safely stores users’ private keys. Any unauthorized access attempts trigger a self-destruct mechanism, ensuring maximum protection. Additional features include PIN protection, a 24-word recovery phrase, encrypted Bluetooth connectivity, and hidden wallets accessible via separate PINs—delivering comprehensive security for crypto asset holders. More info : https://www.ledger.com About BYDFi Founded in 2020, BYDFi has been recognized by Forbes as one of the world’s top 10 crypto exchanges, is officially listed on CoinMarketCap and CoinGecko, and holds MSB licenses in multiple jurisdictions. It is also a member of South Korea’s CODE VASP Alliance. Today, BYDFi serves users in 190+ countries, with a global user base exceeding 1,000,000. The platform supports spot , perpetual , and on-chain trading , enabling access to over 600 cryptocurrencies and 500,000+ memecoin pairs. BYDFi is committed to delivering a world-class crypto trading experience. BUIDL Your Dream Finance. Website: https://www.bydfi.com Support Email: cs@bydfi.com Business Partnerships: bd@bydfi.com Media Inquiries: media@bydfi.com Twitter( X ) | LinkedIn | Facebook | Telegram | YouTube Contact Senior Marketing Director Chloe BYDFi Fintech LTD chloe@bydfi.com
In the ever-evolving world of cryptocurrency investments, a significant trend is capturing the attention of market observers: positive flows into US spot Ethereum ETFs. After periods of uncertainty and anticipation, these investment vehicles are starting to see notable capital entering the market, signaling growing interest. What Do These US Spot Ethereum ETFs Inflows Tell Us? According to recent data from Farside Investors, US spot Ethereum ETFs experienced a combined net inflow of $18.4 million on April 29th. This wasn’t just a one-off event; it marked the fourth consecutive day of positive flows for these nascent products. While the total inflow figure might seem modest compared to the massive movements seen in Bitcoin ETFs, the consistency is what stands out. Let’s break down the specifics of the day’s activity: Total Net Inflows: $18.4 million Leading Fund: Fidelity’s Ethereum Fund (FETH) FETH Inflows: $25.5 million Fund with Outflows: Grayscale Ethereum Trust (ETHE) ETHE Outflows: $7.1 million Other Funds: No significant changes reported for the day. This data provides a snapshot of investor behavior, highlighting which specific Ethereum ETFs are attracting capital and which might be experiencing profit-taking or rotation. Why Are Positive Ethereum ETF Inflows Important? The sustained positive flows into US spot Ethereum ETFs are significant for several reasons. Firstly, they indicate a potentially increasing appetite among investors, both retail and institutional, for regulated exposure to Ethereum’s price movements. Unlike direct cryptocurrency purchases, ETFs offer a familiar and accessible structure for traditional finance participants. These inflows can be seen as a barometer for market sentiment regarding Ethereum. Positive flows suggest confidence in Ethereum’s future prospects, its role in the decentralized finance (DeFi) ecosystem, NFTs, and its recent transition to Proof-of-Stake. Furthermore, consistent inflows, even if small initially, contribute to the overall liquidity and health of the Ethereum market. As more capital flows into these Spot Ethereum ETF products, it can potentially exert upward pressure on the underlying asset’s price, assuming the ETF issuers are actively purchasing ETH to back their shares. Comparing ETH ETF Flows to Bitcoin’s Debut It’s natural to compare the performance of US spot Ethereum ETFs to their Bitcoin counterparts, which launched with much fanfare and saw billions in inflows (and significant outflows from Grayscale’s GBTC) in their initial weeks. The ETH ETF market is still in its very early stages, and regulatory approval for spot ETH ETFs is not yet finalized in the US, which is a crucial difference. The current positive streak for Ethereum ETF inflows is occurring in a different regulatory environment than the one Bitcoin ETFs entered. While the SEC approved Bitcoin spot ETFs, the decision on spot Ethereum ETFs is still pending, with key deadlines approaching in May 2024. The current inflows are into existing products that might not function exactly like the potential future spot ETFs (like futures-based funds or closed-end trusts like ETHE, which is seeking conversion). However, any positive flow data helps build a case for investor interest and market readiness, which could be factors considered by regulators. Diving Deeper: Fidelity’s Gain, Grayscale’s Outflow in Ethereum ETFs The divergence in flows between Fidelity’s FETH and Grayscale’s ETHE is a key detail from the April 29th data. Fidelity’s product, often lauded for its competitive fee structure and strong brand reputation in traditional finance, attracting significant capital is a positive sign for new entrants in the ETH ETF space. Grayscale’s ETHE, on the other hand, is a different beast. As a closed-end trust, it often traded at a significant discount or premium to its net asset value (NAV). Investors who bought ETHE at a premium might be selling now, or those seeking to move into potentially lower-fee or more liquid structures (like a potential spot ETF) might be exiting. Grayscale is also seeking to convert ETHE into a spot Ethereum ETF, similar to what they did with GBTC. The outflows from ETHE mirror the pattern seen with GBTC after the Bitcoin spot ETFs launched, suggesting investors are rotating or taking profits from the older, potentially less efficient structure. This dynamic between existing products and anticipation of potential new Spot Ethereum ETF structures is a critical factor influencing current flow data. The Road Ahead for Spot Ethereum ETF Approval The big question looming over the market is the potential approval of US spot Ethereum ETFs by the SEC. Several asset managers have applications pending, with final deadlines for some applications falling in May 2024. The regulatory path for Ethereum ETFs is perceived by many as less certain than it was for Bitcoin ETFs. Regulators have raised questions about Ethereum’s classification (security vs. commodity) and its transition to Proof-of-Stake. While the CFTC has regulated ETH futures, the SEC’s stance on the spot market remains a subject of intense debate and speculation. Positive inflow data, like the four consecutive days seen recently, could potentially demonstrate market demand and maturity, but the regulatory decision will ultimately hinge on the SEC’s interpretation of securities laws and market readiness. Actionable Insights for Navigating Ethereum ETFs For investors watching the US spot Ethereum ETFs space, here are a few actionable insights: Stay Informed on Regulation: The SEC’s decision in May is paramount. Keep track of announcements and expert analysis regarding the approval prospects. Understand the Product: Differentiate between existing products (like futures ETFs or ETHE) and the potential future spot ETH ETF. Each has different structures, fees, and risks. Assess Your Risk Tolerance: Cryptocurrency markets, including Ethereum, are highly volatile. ETFs provide easier access but don’t eliminate this inherent volatility. Consider Diversification: As with any investment, consider how an ETH ETF fits into your overall portfolio strategy. Analyze Fees: If spot ETH ETFs are approved, compare the expense ratios of different providers, as fees can significantly impact long-term returns. The current positive trend in Ethereum ETF inflows is an encouraging sign of growing investor interest, but the market is still navigating regulatory uncertainties and the evolution of available investment products. Conclusion: A Glimpse of Growing Interest The streak of positive net inflows into US spot Ethereum ETFs, highlighted by the $18.4 million on April 29th, offers a compelling glimpse into growing investor confidence and interest in Ethereum. While regulatory approval for spot ETH ETFs in the US remains the next major hurdle, the consistent, albeit modest, influx of capital suggests that market participants are increasingly looking for regulated ways to gain exposure to the second-largest cryptocurrency. The dynamic between different funds, like the inflows into Fidelity and outflows from Grayscale, further illustrates the market’s evolution as it anticipates potential new structures. This period is undoubtedly exciting for the Ethereum ecosystem, signaling potential maturation and broader acceptance. To learn more about the latest crypto market trends, explore our article on key developments shaping Ethereum institutional adoption.
The Biden administration is gearing up to secure an extensive Bitcoin reserve, signaling a new phase in cryptocurrency policy and strategy. Bo Hines, the executive director of the President’s Council
Summary CleanSpark's focus on Bitcoin mining over HPC/AI services has proven beneficial, with CLSK outperforming many mining companies that pursued HPC/AI data centers. CleanSpark's 'sats per share' has grown the fastest among peers, reflecting effective shareholder value despite a decline in stock price. CleanSpark's break-even cost to mine Bitcoin is estimated at $75k, making it one of the more efficient public mining companies. With Bitcoin potentially bottoming and CleanSpark's strong operational metrics, CLSK could be a compelling investment opportunity. Back in early January , I left readers with the following thought regarding CleanSpark ( CLSK ) and the company's commitment to mining Bitcoin ( BTC-USD ) rather than chasing HPC service revenue like most of the other public companies in the sector: Once upon a time, there was a rush to Bitcoin mining because the profit margin was so tremendous. Through HPC data centers, the allure of robust gross margins has led to yet another 'gold rush' though this one is attached to artificial intelligence and electrical infrastructure. Those fat margins could certainly prove to be temporary. In the event of a possible HPC data center bust, the companies that stick with Bitcoin mining could theoretically outperform those that chase HPC services. Subsequent to that article, we've indeed seen the wind start to come out of the 'data center margin' sails, in part, due to the emergence of DeepSeek as well as Microsoft ( MSFT ) becoming more cautious regarding AI-related data center capex. As fate would have it, CleanSpark stock has indeed held up better than many of the mining companies that have been more enthusiastic about HPC/AI data center segments year to date: Data by YCharts Many of the mining companies leaning hard into HPC/AI are down 35-45% year to date while CLSK is actually in line with the Nasdaq 100 in 2025. With the AI/HPC trade seemingly running out of steam and Bitcoin potentially putting in a short term bottom, is it time to consider exposure to CLSK? In this update, we'll look at CleanSpark's sats per share trend, estimated break-even cost, and current valuation multiples. Break-even Cost Estimate April Investor Deck, Slide 5 (CleanSpark) In the company's April investor deck, CleanSpark noted a $34,011 cost to mine a single Bitcoin in Q4-24. While the company is indeed one of the lower-cost miners in the public mining sector, CleanSpark's all-in cost to mine is actually far higher than $34k per coin. I've generally felt that, while they can be helpful otherwise, cost to mine figures that don't include the full scope of corporate expense can mislead shareholders into believing mining companies are more profitable than they actually are. Given that, I've often provided readers with a back of the envelope estimate for mining break-even cost by including opex with COGS: CleanSpark Q1-24 Q2-24 Q3-24 Q4-24 TTM COGS $34.3 $45.2 $57.1 $70.3 $206.9 Opex $58.0 $70.5 $92.4 $100.6 $321.5 BTC Mined 2,031 1,583 1,465 1,945 7,024 Break-even BTC Price $45,446 $73,089 $102,048 $87,866 $75,228 Source: Seeking Alpha, Author's estimates, COGS and Opex in millions This estimate includes SG&A and depreciation/amortization but does not include things like interest expense or revaluation of assets in addition to COGS. I like this approach better because I think it helps show which companies theoretically become bottom line positive from operations the quickest in an environment where Bitcoin's price continues to rise. At a trailing twelve month $75k break-even cost from operating, CleanSpark is one of the more efficient mining companies in the public markets and had the lowest SG&A as a percentage of revenue in Q4 compared to Riot Platforms ( RIOT ), MARA Holdings ( MARA ), and Core Scientific ( CORZ ). More importantly, CleanSpark is theoretically profitable at a $95k BTC price. Production Trend and Sat-Backing CleanSpark has continued to scale EH/s capacity over the last several months. As of March, the company had 42.4 EH/s in operating hashrate and is still guiding for 50 EH/s in H1 2025: Monthly Production (CleanSpark, Author's Chart) We've also seen CleanSpark show an ability to maintain monthly production, in part, due to the capacity growth. The company produced a nearly identical BTC-denominated return in Q1-25 as it did in Q4-24. Last quarter, the company mined 1,956 BTC which was a slight QoQ increase from 1,945 in Q4-24. The company has been aggressively 'stacking sats' since mid-2023 and this can be reflected by CleanSpark's 'sats per share' figures each quarter: CleanSpark Sats Per Share (CleanSpark, Author's Chart) In my view, this metric can be useful in determining whether or not a company's shareholder dilution has been accretive to the investor or not. In the case of CLSK, the BTC per share is absolutely growing. Over the last year, CleanSpark's sat-backing per share has grown the fastest out of the roughly 12 stocks that I generally cover. Remember, this is 'sats per share' not raw BTC holdings. I've added Hut 8 ( HUT ) and HIVE Digital Technologies ( HIVE ) in addition to MARA and RIOT in the table below: Sats Per Share RIOT MARA HUT HIVE CLSK December 2023 3,190 6,250 16,188 1,845 1,617 December 2024 5,138 13,192 10,222 2,001 3,544 YoY Change 1,949 6,943 -5,966 155 1,927 Growth Percentage 61.09% 111.09% -36.86% 8.42% 119.12% Source: Company filings CleanSpark's sat-backing has been faster than even MARA's over the last year. What's interesting about both of these companies more than doubling the Bitcoin-backing of their common stock from Q4-23 to Q4-24 is the fact that the share prices of the stocks themselves have performed so badly: Data by YCharts Consider Bitcoin's price doubled from the end of 2023 to the end of 2024 while CLSK and MARA fell by 16.5% and 28.6% respectively. A big reason for this is likely that these companies were already pricing in 2024's growth at the end of 2023: Data by YCharts At the end of December 2023, CLSK was trading at 8 times trailing sales with the stock at $12. More recently, the stock has been changing hands at $8 per share but at half the trailing sales multiple. Valuation Multiples Given the company has been aggressively scaling BTC holdings, it's important to consider the valuation of the company's Bitcoin relative to the market cap of the equity. This is especially true since the company is pivoting from a HODL-only treasury management approach to a more balanced capital management strategy. At the end of March, CleanSpark had roughly 11.9k BTC. At $95k BTC, the value of that stack is worth over $1.1 billion against an equity market cap of $2.4 billion: Bitcoin Treasuries CLSK trades at a little more than double the BTC held by the company and at a price to book valuation of just 1.19. Thinking again to price to sales, at a $100k Bitcoin price, CLSK trades at a forward multiple of slightly above 3: Market Capitalization $2.4 billion 3 Month Avg Production 652 FWD P/S At $85k BTC 3.61 FWD P/S At $100k BTC 3.07 FWD P/S At $150k BTC 2.05 FWD P/S At $200k BTC 1.54 Source: Author's Calculations While a 3x forward sales multiple isn't egregious, it is ahead of the info tech sector median of 2.5. And again, a large portion of that equity valuation comes from BTC that has already been mined. Ultimately, CLSK is still very much a play on BTC both due to its corporate holdings of the asset as well as the company's operating results being reliant on mining it. Risks From where I sit, the biggest risk to a long position in CLSK is that the price of BTC goes down in a risk-off environment due to broader macro uncertainty. This would hit the company's equity valuation as well as the entire mining business model. The stock is also among the most-shorted equities in the public mining space with over 32% of shares outstanding sold short as of April 15th: Data by YCharts While large shorting isn't necessarily a reason to take the other side of the trade just to be a contrarian, it does offer a baked-in buyer if the price of BTC decouples from equity markets in a risk-off scenario. In the event the price of BTC grows with global liquidity - as it has throughout its existence - it could provide a powerful short-covering rally in CLSK. But again, this is more of a trade than an investment thesis. Closing Takeaways Bitcoin mining is still a challenging business. Mining profitability following the halving has been poor even when BTC prices eclipsed six figures. CleanSpark has an enormous level of exposure to the performance of BTC both as a producer of the digital asset and as a major holder of it. At current BTC prices, the company should be at or close to positive net income even without paper gains to BTC held by the company. I'm maintaining CLSK with a 'buy' rating on Bitcoin's recent price breakout .
The post Donald Trump’s 2025 Tax Plan Could Spark a 1000% XRP Price Rally, Analyst Claims appeared first on Coinpedia Fintech News A viral post by the X account All Things XRP has sparked debate with a bold theory: former President Donald Trump’s proposed 2025 tax plan could be the catalyst for the next major crypto bull run—particularly benefiting XRP. The post presents a hypothetical scenario: the elimination of federal income tax for Americans earning under $200,000 per year. With nearly 90% of the U.S. workforce falling into this income bracket, the theory argues that such a policy would unleash a wave of disposable income. The big question: Where would this money go? Crypto as the Destination? The post suggests that with more cash on hand, many Americans might turn to crypto—especially those who prefer saving and investing over spending. Despite crypto ownership currently sitting at just 28% in the U.S., the author speculates that this number could rise dramatically if disposable income increases. Why XRP Could Lead the Rally While Bitcoin and Ethereum dominate the market, the post argues that XRP could be the primary beneficiary. XRP’s low transaction costs and fast speeds make it more accessible than Bitcoin’s slower network or Ethereum’s high gas fees. Moreover, with Ripple’s legal victory over the SEC and the anticipated launch of an XRP Spot ETF, the XRP ecosystem is gaining momentum within the U.S. financial landscape. Beyond Transactions: XRP as a Store of Value? XRP, currently the fourth-largest cryptocurrency with a market cap of over $130 billion, is widely used for payments and money transfers. However, the post forecasts a future where XRP could also serve as a store of value—potentially positioning it alongside Bitcoin, which is often viewed as “digital gold.” The 1000% Price Surge Theory The most explosive claim? If Trump’s tax cuts align with increased crypto adoption and regulatory clarity, XRP could surge by more than 1000%. Still, the author makes it clear: this prediction hinges entirely on the tax cut scenario, which remains speculative. XRP’s recent performance lends some optimism to the outlook. Over the past year, XRP has climbed 343.4%, with a 7.7% increase in the last two weeks and 8.7% in the past month.
The White House adviser said the administration aims to acquire as much Bitcoin as possible, emphasizing its "intrinsic value."
April 30th, 2025 – Victoria, Seychelles As an official sponsor of TOKEN2049 Dubai , global crypto exchange BYDFi has teamed up with industry-leading hardware wallet provider Ledger to release a limited edition co-branded Ledger Nano X. The exclusive wallets made their debut at the TOKEN2049 event, where attendees had the chance to receive them for free through on-site interactive activities. This special edition wallet retains the advanced security features of the original Ledger Nano X, while incorporating custom BYDFi design elements, including visual branding and customized packaging. Symbolizing a deep collaboration on user asset protection and Web3 innovation, the wallet is equipped with a secure element chip, supports the offline storage of a wide range of digital assets, and defends against common forms of cyberattack—offering users an enhanced standard of self-custody. Secure by Design: Ledger x BYDFi Hardware Wallet Makes Its Official Launch The launch drew large crowds to the BYDFi booth at TOKEN2049, where many attendees successfully received the limited edition wallet by completing live interactions. Designed for secure self-custody, the Ledger x BYDFi wallet gives users full control over their private keys and assets, reducing reliance on centralized platforms and elevating personal asset sovereignty. Michael, Co-founder of BYDFi, commented at the event: “TOKEN2049 coincides with BYDFi’s fifth anniversary, making this a milestone moment for us. This collaboration with Ledger reflects our continued commitment to asset security. The limited edition wallet is designed especially for high-net-worth individuals who demand institutional-grade protection for their digital assets.” Expanding Horizons: BYDFi’s Vision for Global Growth and Market Leadership In addition to the co-branded wallet, BYDFi showcased its on-chain trading solution, MoonX , at the event. As a flagship product of BYDFi’s “CEX + DEX” dual-engine strategy, MoonX merges the transparency of on-chain execution with the high-speed performance of centralized systems—delivering an ultra-smooth, seamless trading experience tailored to the rising demands of DeFi users. The launch of MoonX not only expands the boundaries of BYDFi’s trading ecosystem, but also promotes greater diversity in trading methods and empowers users with more choice and flexibility. Looking ahead, BYDFi will continue to strengthen collaborations with global partners and infrastructure providers, accelerating the deployment of innovative products and further solidifying its global service capabilities. About Ledger Nano X The Ledger Nano X is a hardware wallet certified by independent security labs. It features a tamper-proof secure element chip that safely stores users’ private keys. Any unauthorized access attempts trigger a self-destruct mechanism, ensuring maximum protection. Additional features include PIN protection, a 24-word recovery phrase, encrypted Bluetooth connectivity, and hidden wallets accessible via separate PINs—delivering comprehensive security for crypto asset holders. More info : https://www.ledger.com About BYDFi Founded in 2020, BYDFi has been recognized by Forbes as one of the world’s top 10 crypto exchanges, is officially listed on CoinMarketCap and CoinGecko, and holds MSB licenses in multiple jurisdictions. It is also a member of South Korea’s CODE VASP Alliance. Today, BYDFi serves users in 190+ countries, with a global user base exceeding 1,000,000. The platform supports spot , perpetual , and on-chain trading , enabling access to over 600 cryptocurrencies and 500,000+ memecoin pairs. BYDFi is committed to delivering a world-class crypto trading experience. BUIDL Your Dream Finance. Website: https://www.bydfi.com Support Email: cs@bydfi.com Business Partnerships: bd@bydfi.com Media Inquiries: media@bydfi.com Twitter( X ) | LinkedIn | Facebook | Telegram | YouTube Contact Senior Marketing Director Chloe BYDFi Fintech LTD chloe@bydfi.com This content is sponsored and should be regarded as promotional material. Opinions and statements expressed herein are those of the author and do not reflect the opinions of The Daily Hodl. The Daily Hodl is not a subsidiary of or owned by any ICOs, blockchain startups or companies that advertise on our platform. Investors should do their due diligence before making any high-risk investments in any ICOs, blockchain startups or cryptocurrencies. Please be advised that your investments are at your own risk, and any losses you may incur are your responsibility. Follow Us on X Facebook Telegram Check out the Latest Industry Announcements The post BYDFi Partners with Ledger to Launch Limited Edition Hardware Wallet, Debuts at TOKEN2049 Dubai appeared first on The Daily Hodl .
Victoria, Seychelles, April 30th, 2025, Chainwire As an official sponsor of TOKEN2049 Dubai , global crypto exchange BYDFi has teamed up with industry-leading hardware wallet provider Ledger to release a limited edition co-branded Ledger Nano X. The exclusive wallets made their debut at the TOKEN2049 event, where attendees had the chance to receive them for free through on-site interactive activities. This special edition wallet retains the advanced security features of the original Ledger Nano X, while incorporating custom BYDFi design elements, including visual branding and customized packaging. Symbolizing a deep collaboration on user asset protection and Web3 innovation, the wallet is equipped with a secure element chip, supports the offline storage of a wide range of digital assets, and defends against common forms of cyberattack—offering users an enhanced standard of self-custody. Secure by Design: Ledger x BYDFi Hardware Wallet Makes Its Official Launch The launch drew large crowds to the BYDFi booth at TOKEN2049, where many attendees successfully received the limited edition wallet by completing live interactions. Designed for secure self-custody, the Ledger x BYDFi wallet gives users full control over their private keys and assets, reducing reliance on centralized platforms and elevating personal asset sovereignty. Michael, Co-founder of BYDFi, commented at the event: "TOKEN2049 coincides with BYDFi’s fifth anniversary, making this a milestone moment for us. This collaboration with Ledger reflects our continued commitment to asset security. The limited edition wallet is designed especially for high-net-worth individuals who demand institutional-grade protection for their digital assets." Expanding Horizons: BYDFi’s Vision for Global Growth and Market Leadership In addition to the co-branded wallet, BYDFi showcased its on-chain trading solution, MoonX , at the event. As a flagship product of BYDFi’s “CEX + DEX” dual-engine strategy, MoonX merges the transparency of on-chain execution with the high-speed performance of centralized systems—delivering an ultra-smooth, seamless trading experience tailored to the rising demands of DeFi users. The launch of MoonX not only expands the boundaries of BYDFi’s trading ecosystem, but also promotes greater diversity in trading methods and empowers users with more choice and flexibility. Looking ahead, BYDFi will continue to strengthen collaborations with global partners and infrastructure providers, accelerating the deployment of innovative products and further solidifying its global service capabilities. About Ledger Nano X The Ledger Nano X is a hardware wallet certified by independent security labs. It features a tamper-proof secure element chip that safely stores users’ private keys. Any unauthorized access attempts trigger a self-destruct mechanism, ensuring maximum protection. Additional features include PIN protection, a 24-word recovery phrase, encrypted Bluetooth connectivity, and hidden wallets accessible via separate PINs—delivering comprehensive security for crypto asset holders. More info: https://www.ledger.com About BYDFi Founded in 2020, BYDFi has been recognized by Forbes as one of the world’s top 10 crypto exchanges, is officially listed on CoinMarketCap and CoinGecko, and holds MSB licenses in multiple jurisdictions. It is also a member of South Korea’s CODE VASP Alliance. Today, BYDFi serves users in 190+ countries, with a global user base exceeding 1,000,000. The platform supports spot , perpetual , and on-chain trading , enabling access to over 600 cryptocurrencies and 500,000+ memecoin pairs. BYDFi is committed to delivering a world-class crypto trading experience. BUIDL Your Dream Finance. Website: https://www.bydfi.com Support Email: cs@bydfi.com Business Partnerships: bd@bydfi.com Media Inquiries: media@bydfi.com Twitter( X ) | LinkedIn | Facebook | Telegram | YouTube ContactSenior Marketing DirectorChloeBYDFi Fintech LTDchloe@bydfi.com Disclaimer: This is a sponsored press release and is for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice.
Ethereum (ETH) seems to be on the edge of a mighty breakout, as both indicators and fundamentals point toward a renewed buildup of bullish momentum. For the first time since September 2024, Ethereum’s Daily Ichimoku Cloud—a resource trusted among tech analysts—now appears to be signaling a bullish reversal. Is $ETH gearing up for a breakout? For the first time since Sept 2024, Ethereum’s Daily Ichimoku is flashing signs of a potential reversal. Last time this happened, ETH went on a multi-week run. Will history rhyme again? Next 35–42 days could be critical. Thinking of… pic.twitter.com/O8HkPatEj7 — MisterSpread (@MisterSpread) April 29, 2025 Historically, when this indicator has turned positive as it has now, ETH has tended to embark on a sustained multi-week rally. Traders are now watching closely to see if Ethereum might once again follow in the footsteps of its own recent history. The Ichimoku Cloud tracking indicator follows three plot lines. A bullish cross on the indicator means that the leading plot lines have moved into a position where they indicate bullish price action. One of the clear formations that can occur on the indicator is when a line is seen coiling, which tends to happen when the market is in consolidation. During this event, if we then see the line coil in the opposite direction, it lets us know that the market has moved from consolidation into an impulse move. Whale Accumulation Sends a Strong Signal Increasingly, the bullish argument is being enriched by the sharp growth in whale accumulation. In just the past few hours, Ethereum whales have gobbled up about $50.24 million worth of ETH. These large holders are often precursors to big market moves, serving as early indicators of broader trends for us little fish. Ethereum whales are accumulating $ETH . They bought $50,240,000 $ETH in the last hours. Pump it. pic.twitter.com/RhEOQ93ANF — Ted (@TedPillows) April 29, 2025 Purchasing by whales can also build momentum by narrowing supply on exchanges, resulting in more energetic price movements when retail investors pile in. Experts now interpret these recent whale activities as giving a vote of confidence to Ethereum’s near-term outlook. These purchase amounts are so large that they give the appearance that some of the biggest players in our market believe Ethereum is currently an undervalued asset—again, positioning themselves for some kind of breakout. BlackRock and ETFs Fuel Institutional Confidence The institutional interest is also intensifying. BlackRock’s ETF for Ethereum, $ETHA, garnered attention this week after it bought up 90,950 ETH—worth around $161.9 million—within a brief window of just three days. This foray by the world’s biggest asset manager into direct holdings of Ethereum underscores a burgeoning appetite among institutional investors to invest directly in the digital asset. And we shouldn’t expect this to be a one-off movement. BlackRock's $ETHA bought 90,950 $ETH worth $161.9 million in the last 3 days! Still think #Ethereum won’t go up? With big money like this buying, #ETH could hit $10,000 very soon. Don’t miss this bull run! pic.twitter.com/5mWZkqoMD1 — Crypto Patel (@CryptoPatel) April 29, 2025 Launched in recent months, spot Ethereum ETFs continue to show growth that seems very promising. On April 28 alone, these ETFs recorded a net inflow of $64.12 million. This marks the third straight day of positive inflows and, according to many, seems to suggest a more steady rise in investor interest. While the retail side is still largely speculative, the institutional side of the market is now pricing in a likely ETF future—one that could bring more stability and long-term support to the space. Traditional investors can invest in Ethereum with these new products—exchange-traded funds—that comply with U.S. regulations. We don’t have to worry about managing wallets or private keys anymore. And as more capital flows into these kinds of vehicles, they lend even more legitimacy to the investment case for Ethereum. On April 28, spot Bitcoin ETFs recorded a total net inflow of $591 million, marking seven consecutive days of net inflows. Spot Ethereum ETFs saw a net inflow of $64.12 million, continuing a three-day streak of net inflows. https://t.co/Hj2Gs49bWa — Wu Blockchain (@WuBlockchain) April 29, 2025 Eyes on $10,000: Is the Next Leg Up Imminent? Technical indicators are aligning, whale accumulation is aggressive, and institutional capital now seems to be flowing into Ethereum at scale. The price target that once seemed an outlier—$10,000—is now openly discussed across trading desks and on social media. Although markets are still uncertain, the present situation is very similar to previous breakout formats. When retail excitement, institutional focus, and technical robustness align, they usually create a kind of push that propels significant assets, such as ETH, into fresh spaces. Regardless of whether Ethereum experiences a breakout in the next few weeks or needs more time to build up support, the elements for a strong rally seem to already be in place. As long as the bullish indicators hold firm, attention will probably stay locked on Ethereum—not simply as a tech sandbox for cool stuff to happen but as a major investment vehicle in the still-evolving digital economy. Disclosure: This is not trading or investment advice. 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