Crypto News
Bitcoin ‘aging’ chart projects sixfold BTC price rally above $350K
Key takeaways:Bitcoin’s price increased by sixfold each time its age increased by 40%.If the pattern holds, Bitcoin could rally to $351,046 in 2025.New data highlights a historical pattern that results in Bitcoin (BTC) price increasing by sixfold. Using a logarithmic chart to illustrate the trend from 2011, the model projects BTC price to hit $351,046 in 2025.According to 21st Capital co-founder Sina, the study plots Bitcoin’s price on a log-log graph, showing a linear relationship that reflects predictable long-term growth driven by network dynamics, a behavior characteristic associated with BTC’s limited supply. Bitcoin 40% age increase-price rise comparison chart. Source: X.comThe math behind the price target relies on Bitcoin’s age in years and a 6x price multiplier per 40% age increase. For instance, from age 8.83 years in 2017 ($19,666 peak) to age 12.83 years in 2021 ($68,000 peak), the age grew by 45%, but the price increased by about 3.4x, showing deviations from the model. Adjusting for the chart’s trendline, the projected price at age 16.33 years is $351,046 in 2025, a 5.2x increase from $68,000 in 2021. This power law suggests Bitcoin’s growth scales with its network maturity, not calendar cycles.Most of the time, the 6x peak in value came before a 40% increase in BTC’s age. The table below reflects actual Bitcoin prices and the model’s projections, highlighting inconsistencies.Bitcoin estimated vs actual price based on the model. Source: Cointelegraph/InvestopediaThe irregularities are evident. It underestimated early growth until 2017 and overestimated recent years (In 2023, $42,258 versus $139,968). External factors possibly disrupted BTC’s rise, such as the 2021 crash (BTC price fell 30% to $31,000 amid a crypto sell-off), China’s 2021 crypto ban, and rising interest rates in 2022, which aligned Bitcoin with risk-on assets. However, the model demonstrates resilience despite regulatory uncertainty, market volatility, and macroeconomic pressures over the past decade, capturing Bitcoin’s long-term uptrend via a non-linear graph. Related: Bitcoin price still in bargain zone as US jobs report sparks rate cut hopesBitcoin price fractal highlights $84K supportAnonymous Bitcoin analyst blackwidow noted a fractal pattern comparing the 2024 support at $58,000 to the current 2025 setup, pinpointing $84,000 as a pivotal support level, mirroring last year's structure.In an X post, the analyst revealed that the $84,000 level, identified as the point of control (POC) where the heaviest trading volume occurred, is a key re-entry point for traders eager to capitalize on the anticipated breakout. If the support holds, the analyst predicted an accelerated move into the summer, potentially marking a significant long-term opportunity.Bitcoin fractal analysis by blackwidow. Source: X.comLikewise, crypto trader Titan of Crypto mentioned that the new highs for Bitcoin are loading in the charts. The analyst said, “Bitcoin $125,000 target loading. BTC bounced off the orange line of the Golden Ratio Multiplier and is now aiming for the blue line, currently at $125,000.”This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
Published Date: 2025-04-30 20:18:37Creator: Cointelegraph by Biraajmaan Tamuly
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Tether plans US stablecoin launch as soon as this year — Report
Tether plans to launch a stablecoin product in the United States as soon as this year, the stablecoin issuer’s CEO, Paul Ardoino, said in an April 30 CNBC interview. Tether’s flagship stablecoin, USDT (USDT), is already the US dollar’s top “exporter,” Ardoino told CNBC. It has a market capitalization of nearly $150 billion, according to data from CoinGecko. Now, Tether is preparing to expand into the US market “by the end of this year or early next year, at the fastest,” Ardoino said, adding that the timing depends on US lawmakers’ progress on stablecoin legislation. The stablecoin issuer is working to woo US regulators by proactively collaborating with law enforcement and highlighting USDT’s benefits for the US economy. "We are just exporters of what we believe to be the best product the United States ever created — that is, the US dollar,” the CEO said.Tether's USDT has 66% of the stablecoin market share. Source: NansenRelated: Tether still dominates stablecoins despite competition — NansenMarket leaderAs of April 25, USDT commanded a roughly 66% market share among stablecoins, according to Nansen, a Web3 researcher. Tether is also the most profitable stablecoin issuer, logging a net income of nearly $14 billion in 2024. It earns revenue by accepting US dollars to mint USDT and then investing those dollars into highly liquid, yield-bearing instruments such as US Treasury bills. Still, USDT’s popularity is largely limited to users outside of the United States, where rival stablecoin USDC (USDC) is dominant. Tether designed USDT “for the people that live in small villages in Africa... [or] a shop owner in Istanbul,” Ardoino told CNBC, adding that Tether is developing a “different product” for the US. Adoption of USDC has accelerated in the wake of US President Donald Trump’s November election win, Nansen said in an April 25 report. Circle’s USDC has a market capitalization of more than $60 billion, CoinGecko data shows. However, USDT is still likely to maintain its leading position in the stablecoin market. “Despite the potential dispersion in stables, we inevitably believe this is a ‘winner-takes-most’ market dynamic,” the Web3 researcher added. Magazine: Bitcoin payments are being undermined by centralized stablecoins
Published Date: 2025-04-30 19:55:00Creator: Cointelegraph by Alex O’Donnell
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VC Roundup: Funding surge targets confidentiality, tokenization and Web3 infrastructure
After months of volatility and extreme fear, crypto markets turned a positive corner in the second half of April, highlighting the industry’s big sentiment shift. For venture capital, it was business as usual, with investors continuing to pour money into promising startups across layer-1 blockchains, infrastructure, real-world asset tokenization (RWA), and Web3 social media.This edition of VC Roundup highlights six notable funding deals from April.Unto Labs raises $14.4M for layer-1 blockchainBlockchain R&D company Unto Labs raised $14.4 million to continue developing its scalable layer-1 network called Thru. The pre-seed and seed funding was led by venture firms Electric Capital and Framework, with support from angel investors in the Solana engineering community.The company is led by former Solana contributor Liam Heeger, who argues that “blockchains painted themselves into a corner by inventing custom Virtual Machines (VMs),” which he believes has prevented mainstream adoption. Thru is built on the RISC-V standard, an open-source computer architecture not limited to blockchain and crypto-specific use cases. An Electric Capital partner named Ren called Thru the “next logical step” in blockchain development after Ethereum pushed smart contracts and Solana raised the standard on network performance.Related: VC Roundup: 8-figure funding deals suggest crypto bull market far from overMIT-incubated Optimum closes seed roundBlockchain infrastructure developer Optimum closed an $11 million seed round with participation from at least 16 venture capital firms, including 1kx, Robot Ventures, Spartan, Longhash, and Animoca.Optimum is building a high-performance memory layer for the blockchain using Random Linear Network Coding (RLNC) technology, which was developed at MIT by protocol founder Muriel Médard.Médard, a professor at MIT, told Cointelegraph in March that RLNC is akin to “breaking a puzzle into small pieces, mixing those pieces together into equations, and sending them to your friends.”“Even if a few pieces get lost, your friends can still put the whole puzzle together from the pieces they receive,” she said in describing how RLNC can help blockchains overcome scalability issues.Source: OptimumOctane launches with $6.75M in funding to bring cybersecurity to cryptoArchetype and Winklevoss Capital led a $6.75 million seed round for Octane, an AI cybersecurity startup focused on detecting vulnerabilities in blockchain systems. Additional investors included crypto exchanges Gemini and Circle. In its announcement, Octane pointed to data from DefiLlama’s exploit tracker, which shows that crypto attacks have caused over $11.3 billion in losses, more than half of which stem from DeFi hacks.The monthly sum of crypto exploits. Source: DefiLlamaOctane’s platform is designed to continuously analyze smart contracts for potential vulnerabilities and offers AI-powered tools to help developers identify emerging threats.a16z backs Inco’s $5M raiseBlockchain confidentiality protocol Inco has closed a $5 million funding round led by Andreessen Horowitz’s Crypto Startup Accelerator, also known as a16z CSX. Additional investors included Coinbase’s venture capital arm, 1kx Capital, OrangeDAO, Script Capital, and South Park Commons.Inco leverages cryptography to develop confidential computing technology for blockchains. Its first product, Inco Lighting, is designed to bring privacy to onchain applications.Inco founder Remi Gai said blockchains have successfully solved issues like scalability and abstraction, but “confidentiality remains the final challenge.”The announcement referenced a Paradigm research report identifying privacy as one of the three main barriers preventing traditional finance from adopting blockchain technology.Related: VC Roundup: Investors continue to back DePIN, Web3 gaming, layer-1 RWAsa16z, Coinbase Ventures contribute to Towns Protocol’s $10M raiseTowns Protocol, a Web3 social media platform, raised $10 million in a Series B round led by a16z, with additional backing from Coinbase Ventures and Benchmark. The Series B brings Towns’ cumulative funding to $25.5 million since early 2023.Shortly after announcing the fundraise, Towns revealed plans to launch 10 billion TOWNS tokens on Base and Ethereum in the second quarter of this year.Towns is an open-source protocol that allows users to build messaging apps for their digital communities. As of April 29, it has generated $11.5 million in total revenue, with 90% paid out to the creators of individual Towns, according to developer Ryan Cooley.Source: Ryan CooleyRWA-focused Colb raises $7.3M to boost pre-IPO equity opportunitiesSwitzerland-based fintech firm Colb Asset SA raised over $7 million in an oversubscribed seed extension to advance the tokenization of pre-IPO equity in companies like SpaceX and OpenAI.While Colb did not identify its backer, it said the round was funded by a single private investor managing over $20 billion in assets.The new capital will support Colb’s efforts to expand its tokenization platform and cross-border payment infrastructure, potentially boosting adoption of its USC stablecoin, which it says is the first Swiss-compliant, US dollar-pegged stable asset.Related: ‘Contrary to popular belief,’ regulation isn’t slowing tokenization — Prometheum CEO
Published Date: 2025-04-30 19:30:00Creator: Cointelegraph by Sam Bourgi
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Ethereum Pectra upgrade goes live next week — Will ETH price rally?
Key takeaways:ETH price has underperformed its peers during the current bull market, but gas sponsorship could lure developers and traders back to the network.Ethereum’s upcoming Pectra upgrade promises to improve staking efficiency, potentially increasing demand for ETH.Data suggests ETH price bottomed. Will the Pectra narrative reignite bullish momentum?Since 2024, ETH (ETH) has been more of a meme than a market mover. Unlike most of its rivals, ETH still hasn’t reclaimed its all-time high of $4,870 from November 2021, and it regularly underperforms even in the weak altcoin market. Currently, ETH trades at $1,813, down 56% from its local peak in December 2024.Despite the dismal price action, dismissing Ethereum as a relic may be premature. The network continues to evolve, and the upcoming Pectra upgrade scheduled for May 7 could rekindle market interest. By addressing long-standing user experience challenges and improving staking, Pectra may help Ethereum narrow the competitive gap with rivals like Solana and BNB. What’s more, it could potentially serve as the catalyst that brings ETH price back into the spotlight.What are Pectra’s key upgrades?The Pectra upgrade introduces 11 Ethereum Improvement Proposals (EIPs) aimed at strengthening Ethereum across three dimensions: scalability through layer-2s, user experience (UX), and staking efficiency. Scalability remains Ethereum’s most persistent challenge, and critics argue that monolithic L1s would consistently outperform modular L2-based architectures. However, the UX and staking improvements in Pectra could have truly meaningful implications for Ethereum and ETH’s market dynamics.The standout upgrade is EIP-7702, which allows externally owned accounts (regular user wallets) to temporarily act like smart contracts. This unlocks features such as fee sponsorship and gas payments in tokens other than ETH. These enhancements could make Ethereum significantly more user-friendly, lowering entry barriers, enabling DApps to sponsor new users' gas fees, and improving wallet functionality with less friction. This is particularly relevant for onboarding non-technical users in gaming, payments, and mobile apps, which continue to face hurdles due to poor UX. Another positive aspect is that the option to pay gas fees with tokens other than ETH won’t diminish ETH’s role in the network. At the protocol level, validators will continue to receive fees in ETH, while payment processors will have to convert the fee tokens into Ether.On the staking side, EIPs 7251, 6110, and 7002 will also bring major changes. allow validators to hold up to 2,048 ETH instead of just 32, and significantly simplify validator onboarding and exits. Validators will be able to stake up to 2,048 ETH instead of just 32, and the onboarding and exit processes will become more seamless. These changes are especially meaningful for institutional validators. As disappointed institutions are starting to sell their ETH holdings, this upgrade could stimulate renewed engagement from big players.Will the Pectra upgrade affect ETH price?Ether’s price reflects the market’s expectations around its future demand, driven by its use to pay gas fees, and the dynamics of its supply. The Pectra upgrade is designed to strengthen both sides of that equation: increasing demand while reducing available supply.On the demand side, a significantly improved user experience could attract mainstream users and developers, accelerating adoption and onchain activity.On the supply side, streamlined and institution-friendly staking mechanisms may lead to more ETH being locked in validator nodes, tightening the circulating supply and potentially exerting upward pressure on price. Furthermore, if more innovative wallet features fulfill their promise of driving user adoption, the increased transaction throughput will also accelerate ETH burning, reducing the supply even further.Data shows Ethereum is currently experiencing one of its lowest burning periods ever, around 70 ETH per day, compared to 2,000 to 4,000 ETH in 2024. A resurgence in activity could push the burn rate higher, adding deflationary pressure that may support the price.Burned ETH after EIP-1559 (daily).Source: The BlockRelated: Ethereum is destroying the competition in the $16.1T TradFi tokenization raceCan Pectra spark an ETH price trend reversal?Pectra is set to add powerful features to Ethereum, but their impact may take time to materialize. In the meantime, the upgrade could provide the narrative ETH needs to regain market momentum.Technically, the setup looks favorable. ETH appears to have already formed a local bottom, with the weekly RSI — often a reliable reverse signal — breaking out of its downtrend on April 20. This marks the end of a correction that lasted since December 2024 and wiped out as much as 66% of ETH’s value. A new uptrend could be underway, but could Pectra be its trigger?ETH/USD 1-day. Source: Marie Poteriaieva, TradingViewHistorically, Ethereum upgrades often coincided with short-lived price spikes that often failed to create momentum. In 2022, the Merge was overwhelmed by bear market sentiment. The Shapella in 2023, which enabled stake withdrawals, struggled to sustain momentum. The 2024 Dencun upgrade, which improved L2 integration, marked the end of the March rally.However, the market cycle is now in its third year, just like in 2021, when Ethereum’s Berlin and London upgrades (improving gas pricing and introducing burning) helped fuel a major bull run. If history rhymes, Pectra could sync with the broader rally and mark Ethereum’s return to strength.Looking ahead, the Fusaka hard fork scheduled for late 2025 could add further upside potential to Ether.This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
Published Date: 2025-04-30 19:01:52Creator: Cointelegraph by Marie Poteriaieva
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Ripple $4B-$5B bid to purchase Circle rejected — Report
Blockchain payments firm Ripple has reportedly bid up to $5 billion in an effort to acquire stablecoin issuer Circle, but the offer was rejected.According to an April 30 Bloomberg report, Ripple put in a bid of $4 billion to $5 billion as part of an attempted takeover of Circle, which was rejected as being too low. Ripple hasn’t considered whether to make another bid to purchase the stablecoin issuer.The reported acquisition attempt came less than 30 days after Circle applied for an initial public offering (IPO) in the US. Cointelegraph reached out to representatives of Circle and Ripple for comment, but had not received a response from either at the time of publication.Related: Ripple acquisition of Hidden Road a ‘defining moment’ for XRPL — Ripple CTORipple reportedly had an $11 billion valuation in 2024, an estimate CEO Brad Garlinghouse called “outdated” as of January. The blockchain company purchased prime broker Hidden Road for roughly $1.2 billion in April, claiming the move would help scale activity for XRP and XRP Ledger.Court cases winding downIt’s unclear whether Ripple intends to pursue the Circle acquisition as the firm begins to clear some of its legal entanglements with US regulators. In August 2024, a court found Ripple liable for $125 million in a case with the US Securities and Exchange Commission (SEC) first filed in 2020. However, Garlinghouse announced in March that the SEC planned to drop its appeal against the firm over the ruling, with Ripple later stating it would pay a net $50 million for the lower court judgment.Both announcements followed meetings between Garlinghouse and Ripple's chief legal officer, Stuart Alderoty, and US President Donald Trump. The blockchain firm contributed $5 million to Trump’s inauguration fund after his election victory, and both executives attended events as official guests on Jan. 20.Magazine: XRP win leaves Ripple and industry with no crypto legal precedent setThis is a developing story, and further information will be added as it becomes available.
Published Date: 2025-04-30 18:57:08Creator: Cointelegraph by Turner Wright
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Price predictions 4/30: BTC, ETH, XRP, BNB, SOL, DOGE, ADA, SUI, LINK, AVAX
Key points:Bitcoin’s 7-day volatility is the lowest in 563 days, signaling an impending range expansion.Bitcoin’s breakout above $95,000 could swiftly take it to $100,000 and above.Although the probability is low, traders should remain cautious about a pullback in the near term.Bitcoin (BTC) has been trading in a tight consolidation near the $95,000 level for several days. K33 Research head of research Vetle Lunde said in a post on X that Bitcoin’s 7-day volatility has hit a 563-day low.A range expansion usually follows a low-volatility period. Although it is difficult to predict the direction of the breakout, a tight consolidation just below a crucial resistance increases the likelihood of an upside rally. Several analysts are also optimistic that Bitcoin’s break will occur to the upside.Crypto market data daily view. Source: Coin360Although signs point to a possible breakout to the upside, traders should remain cautious. Sometimes, short-term buyers book profits when the price fails to break out to the upside. That leads to a short-term pullback.Could Bitcoin break above $95,000, or is a correction around the corner? How are the altcoins placed? Let’s analyze the charts of the top 10 cryptocurrencies to find out.Bitcoin price predictionBitcoin bulls are struggling to push the price above the $95,000 barrier, but a minor positive is that the buyers have not ceded ground to the bears. That suggests the bulls have kept up the pressure.BTC/USDT daily chart. Source: Cointelegraph/TradingViewThe upsloping 20-day exponential moving average ($90,102) and the relative strength index (RSI) in the positive territory indicate the path of least resistance is to the upside. A break and close above $95,000 could swiftly propel the BTC/USDT pair to the psychological resistance at $100,000. Sellers are expected to vigorously defend the $100,000 obstacle, but if the bulls prevail, the pair could soar toward $107,000.Sellers are likely to have other plans. They will try to yank the price to the 20-day EMA, which is a strong near-term support to keep an eye on. A bounce off the 20-day EMA will keep the bullish momentum intact, but a break below it could sink the pair to the 50-day simple moving average ($85,645).Ether price predictionEther (ETH) is finding support at the moving averages, but the bulls have failed to resume the relief rally.ETH/USDT daily chart. Source: Cointelegraph/TradingViewA break and close above $1,858 signals strength to the buyers. The ETH/USDT pair could then rally to the breakdown level of $2,111. Sellers are expected to aggressively defend the $2,111 level as a break above it suggests that the downtrend has ended. The pair could then skyrocket to $2,550.On the contrary, if the price turns down and breaks below the moving averages, it signals a range formation. The pair could swing between $2,111 and $1,368 for a while.XRP price predictionXRP (XRP) turned down from the resistance line on April 28 and slipped below the moving averages on April 30.XRP/USDT daily chart. Source: Cointelegraph/TradingViewIf the price continues lower and closes below the moving averages, it suggests that the bears have seized control. The pair could then retest the critical support at $2. If this level also cracks, the XRP/USDT pair may plunge to $1.61.The resistance line remains the key level to watch out for on the upside. If buyers pierce the resistance line, it suggests that the downtrend could be over. The pair may then ascend to $3.BNB price predictionBNB (BNB) slipped below the moving averages on April 30, indicating that the bulls are losing their grip.BNB/USDT daily chart. Source: Cointelegraph/TradingViewBuyers will have to quickly push the price back above the moving averages to stay in the game. A break and close above $620 indicates an advantage to the bulls and opens the doors for a rally to $644. Sellers may pose a substantial challenge at $644, but if the buyers prevail, the BNB/USDT pair could soar to $680.Contrarily, a close below the moving averages suggests that the bears are trying to form a lower high. The pair could drop to $576 and then to $566, where the bulls are expected to step in.Solana price predictionSolana (SOL) pulled back from the $153 resistance, but the bulls are trying to sustain the price above the 20-day EMA ($140).SOL/USDT daily chart. Source: Cointelegraph/TradingViewSuppose the price rebounds off the 20-day EMA with strength; the likelihood of a break above the $153 resistance increases. If that happens, the SOL/USDT pair could pick up momentum and surge to $180. Alternatively, a break and close below the 20-day EMA suggests that the short-term bulls are closing their positions. The pair may then slip to the 50-day SMA ($131), signaling a consolidation between $110 and $153.Dogecoin price predictionDogecoin (DOGE) has been range-bound between $0.21 and $0.14 for several days, indicating buying near the support and selling close to the overhead resistance.DOGE/USDT daily chart. Source: Cointelegraph/TradingViewThe flattish moving averages and the RSI just below the midpoint signal that the range-bound action may extend for a few more days. The trend will turn in favor of the bulls if they push and maintain the DOGE/USDT pair above the $0.21 resistance. That completes a double-bottom pattern, which has a target objective of $0.28.On the downside, buyers are expected to vigorously defend the $0.14 support because a break below it could resume the downtrend toward $0.10.Cardano price predictionCardano (ADA) has been sustaining above the moving averages for the past few days, but the bulls have failed to start a strong rebound. ADA/USDT daily chart. Source: Cointelegraph/TradingViewIf the price skids below the moving averages, it will tilt the short-term advantage in favor of the bears. The ADA/USDT pair could drop to $0.58, which is expected to act as a strong support. If buyers want to prevent the downside, they will have to swiftly push the price above the $0.75 resistance. If they do that, the pair could rally to $0.83, where the bears are likely to mount a strong defense.Related: Bitcoin macro indicator that predicted 2022 bottom flashes 'buy signal'Sui price predictionBuyers tried to push Sui (SUI) above the $3.90 overhead resistance on April 28, but the bears held their ground.SUI/USDT daily chart. Source: Cointelegraph/TradingViewSellers are trying to strengthen their position by pulling the price below the 38.2% Fibonacci retracement level of $3.14. If they manage to do that, the pair could plummet to the 20-day EMA ($2.89).Conversely, if the price turns up sharply from the current level, the bulls will again try to kick the price above the $3.90 resistance. If they can pull it off, the SUI/USDT pair could rise to $4.25 and later to $5.Chainlink price predictionThe failure of the bulls to propel Chainlink (LINK) above the $16 overhead resistance has pulled the price to the moving averages.LINK/USDT daily chart. Source: Cointelegraph/TradingViewThe 20-day EMA ($13.93) is sloping up, but the RSI has dropped near the midpoint, suggesting that the bullish momentum is weakening. If the price rebounds off the moving averages with strength, the bulls will attempt to drive the LINK/USDT pair to the resistance line of the descending channel.The first sign of weakness will be a break and close below the moving averages. That opens the doors for a fall to $11.68.Avalanche price predictionAvalanche (AVAX) has dropped to the moving averages, which is likely to attract buying by the bulls.AVAX/USDT daily chart. Source: Cointelegraph/TradingViewIf the price rebounds off the moving averages, the bulls will again attempt to drive the AVAX/USDT pair above the overhead resistance. If they succeed, the pair will complete a double-bottom pattern. That could start a rally to the pattern target of $31.73.If the price continues lower and breaks below the 50-day SMA ($19.68), it signals that the bulls have given up. That may keep the pair inside the $23.50 to $15.27 range for a few more days. This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
Published Date: 2025-04-30 18:30:00Creator: Cointelegraph by Rakesh Upadhyay
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Global demand grows for non-dollar stablecoins, says Fireblocks exec
Governments outside the US, including Singapore, are increasingly interested in stablecoins not tied to the US dollar, despite their currently limited liquidity, Fireblocks director of policy Dea Markova told Cointelegraph at Token2049.In an exclusive interview, Markova described the competition with dollar-pegged stablecoins as “all about sovereignty.” She compared the situation to earlier tensions between governments and US payment giants like Visa and Mastercard. “Now we’re seeing the same dynamic with stablecoins — on a smaller scale for now — but they’re definitely emerging as a new arena for sovereign concerns,” she said.According to Markova, dollar-pegged stablecoins operating in the European Union are already "having a massive headache," particularly from central banks. "Even though they're compliant and regulated, they're having a fixed push back.”Dea Markova at Token2049. Source: CointelegraphThe European Central Bank is increasing pressure to accelerate the development of a digital euro, citing concerns over the systemic impact of dollar-linked stablecoins within the eurozone. On April 29, the Bank of Italy released a report saying dollar-pegged stablecoins’ reliance on US Treasury bonds could increase systemic risk vulnerabilities.Stablecoins’ market capitalization is dominated by dollar-pegged coins, especially Tether’s USDT (USDT) and Circle’s USDC (USDC). According to DefiLlama, those two coins combine for $210.9 billion (or 87.2%) of the $241.8 billion total market cap for such tokens. In fact, all 10 of the top stablecoins are pegged to the dollar.Top 10 stablecoins by market cap. Source: DefiLlamaFor Markova, the situation is similar to previous conflicts between governments and US payment giants like Visa and Mastercard. “Now we’re seeing the same dynamic with stablecoins — on a smaller scale for now — but they’re definitely emerging as a new arena for sovereign concerns,” she said.UAE ahead on ‘regulatory thinking’Markova added that the United Arab Emirates is “definitely ahead in its regulatory thinking” on stablecoins. She cited Abu Dhabi as an example, noting that the emirate does not require stablecoin issuers to be domiciled or licensed locally, unlike the regulatory approach in Europe.Markova explained that Abu Dhabi's approach is to conduct its due diligence on global stablecoins and decide whether local exchanges can offer them. "[...] is a far more reasonable approach to give local businesses access to global liquidity and payments.”In December 2024, USDT was approved as a recognized virtual asset in Abu Dhabi, followed by Circle receiving regulatory approval for USDC on April 29. Meanwhile, Abu Dhabi institutions are collaborating on the launch of a regulated dirham-pegged stablecoin.Related: ECB exec renews push for digital euro to counter US stablecoin growth
Published Date: 2025-04-30 18:29:04Creator: Cointelegraph by Christopher Tepedino
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Bitcoin selling at $95K is ‘profit-taking pressure test’ but BTC whales are still buying
Key Takeaways:US GDP shrank -0.3% in Q1, far below +0.3% forecasts, sparking recession fears.Bitcoin faces selling pressure with its spot volume delta dropping $300 million in 3 days.Whales are accumulating BTC, but smaller holders are selling, hinting at profit-taking.Bitcoin’s (BTC) price dropped under $93,000 on April 30, after the US Gross Domestic Product (GDP) data revealed a -0.3% contraction in Q1. While the GDP missed expectations of +0.3%, the GDP Price Index soared to 3.7%—the highest since August 2023. Polymarket odds of a recession in 2025 hit 67%, with consumer confidence at its lowest since May 2020.Quarterly US GDP growth data. Source: X.comMeanwhile, in March 2025, PCE (Personal Consumption Expenditures) inflation fell to 2.3% (above the expected 2.2%), and Core PCE dropped to 2.6% (in line with expectations). Still, February’s Core PCE was revised from 2.8% to 3.0%, signaling mixed inflation trends.Short-term bearish, long-term bullish for Bitcoin?During the 2020 COVID-19-induced market crash, BTC initially followed traditional markets before rallying over 300% by year-end as the global M2 money supply increased, reflecting its appeal during periods of monetary expansion. However, stagflation, highlighted by the -0.3% GDP contraction in Q1 2025 and a 3.7% GDP Price Index, pose short-term risks. Cointelegraph noted that high inflation often deters retail crypto investment, as seen in 2022 when BTC fell 60% amid Federal Reserve interest rate hikes. The March 2025 PCE inflation data suggests cooling pressures that could ease Fed rate hike fears and support Bitcoin. On the other hand, February’s upward revisions (headline PCE from 2.5% to 2.7%, Core PCE to 3.0%) signal persistent inflation, keeping the Fed’s next moves uncertain. While fear of stagflation may pressure BTC in the short term, its long-term hedge potential remains valid. Related: Bitcoin macro indicator that predicted 2022 bottom flashes 'buy signal'Bitcoin sees $300 million in spot selling pressureBitcoin’s spot volume delta dipped over $300 million over the past three days, increasing potential sell-off pressure for BTC around the $95,000 level. Data from Glassnode indicates the 7-day moving average of BTC spot volume delta recorded negative flows over consecutive days. The negative inflows progressively increased with a minor $16 million flush on April 26, followed by $30.9 million on April 27, $76.1 million on April 28, and $193.4 million on April 29.Bitcoin Spot volume delta chart. Source: GlassnodeThis sharp decline signals aggressive selling and weakening spot demand, a signal to profit-taking or a potential short-term trend reversal. Despite the sell-off, the analytics platform noted that accumulation trends among Bitcoin holders paint a more nuanced picture. Whales holding over 10,000 BTC remain in an accumulation mode, with a trend score near 0.95. However, smaller holders show signs of distribution. The 10–100 BTC group is trending toward 0.6, while those with 1–10 BTC (0.3) and less than 1 BTC (0.2) are net sellers. This top-down accumulation suggests the current selling pressure stems from short-term holders potentially taking profit around the $95,000 level. Termed as a “profit-taking pressure test” for BTC, the current market is at a key decision point, where profit-taking is a pivotal metric to monitor. BTC: realized profit data. Source: GlassnodeLast week, the total realized profit on an hourly chart surged to $139.9M/hour, roughly 17% above its $120M/hour baseline. With the current spot delta outflows, the realized profit may hit new highs this week. Related: Bitcoin traders predict BTC price gains ahead of $96K liquidity clashThis article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
Published Date: 2025-04-30 17:51:37Creator: Cointelegraph by Biraajmaan Tamuly
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Ex-Binance CEO chides Europe over crypto adoption
Changpeng “CZ” Zhao, the former CEO of crypto exchange Binance, said most European countries were moving “nowhere” in terms of the adoption of digital currencies.Speaking at the Token2049 conference in Dubai on April 30, Zhao said that areas of the United Arab Emirates were “extremely pro-business,” leading to crypto adoption in Dubai, while others like Bhutan were building national Bitcoin (BTC) and Ether (ETH) stockpiles. According to Zhao, the US was pressing other countries’ hands by exploring its own policies for a crypto reserve, but those in Europe didn’t seem to be reacting.“I don’t see Europe in this discussion,” said Zhao, highlighting one exception. “Montenegro is actually quite pro-crypto. We had an active dialogue with [the] prime minister there, and he’s a very forward-thinking person, leader. But other than Montenegro, I don’t have any other, it’s kind of missing on the map.”Related: ‘Wealthiest US prisoner’: How did Binance founder CZ get there?Zhao, who has a home in Dubai, resigned as Binance CEO in November 2023 as part of a plea deal with US authorities pursuing charges against the exchange. Since leaving Binance and serving four months in prison in the US, he has become more involved with his educational platform, Giggle Academy. Worldwide challenges dealing with cryptoMontenegro’s finance minister touted efforts to make the country the “center of innovation in blockchain technology” in 2022, but other parts of Europe continue to work on regulatory frameworks for digital assets and encourage innovation. The European Union began to implement its Markets in Crypto-Assets (MiCA) framework in December 2024.However, efforts by EU nations to introduce a strategic crypto stockpile seem to be falling short of those in the US, where lawmakers at the state and federal levels are pushing for it. In January, Czech National Bank representatives cited Bitcoin’s “significant volatility” in considering the cryptocurrency as a reserve asset, and many elected officials have been silent on the issue.The Token2049 conference will bring together representatives of some of the largest crypto firms and policymakers in the world in Dubai. Speakers at the 2025 event include Zhao, Binance CEO Richard Teng and Tether CEO Paolo Ardoino.Magazine: Bitcoin $100K hopes on ice, SBF’s mysterious prison move: Hodler’s Digest, April 20 – 26
Published Date: 2025-04-30 17:25:00Creator: Cointelegraph by Turner Wright
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Grayscale launches Bitcoin adopters exchange-traded fund
Asset manager Grayscale launched the Grayscale Bitcoin Adopters exchange-traded fund (ETF), an investment vehicle that tracks companies employing a Bitcoin (BTC) treasury, or holding strategy.According to the April 30 announcement, the ETF will provide exposure to companies across seven business sectors, including Bitcoin mining firms, automotive companies, and energy.Some of the most notable firms in the ETF include Michael Saylor's Strategy, mining company MARA, automotive manufacturer Tesla, BTC treasury company Metaplanet, and aerospace energy firm KULR Technology Group.Grayscale's Bitcoin Adopters ETF highlights the growing trend of Bitcoin acquisition companies using the scarce digital asset to drive up shareholder prices and to protect their corporate financial reserves against the inflation inherent in fiat currencies.Public companies with Bitcoin holdings. Source: RiverRelated: Cantor plans $3B crypto venture with SoftBank, Bitfinex and Tether: ReportBitcoin treasury companies and the effect on BTC marketsBlockstream CEO Adam Back recently wrote that Bitcoin treasury companies will cause BTC to surge to a $200 billion market capitalization in the coming years.According to the CEO, companies adopting BTC are "front-running" market participants in their early bet that hyperbitcoinization — a reference to a point where BTC becomes the dominant store of value — will happen.Fidelity Digital Assets released metrics suggesting that the supply of BTC on exchanges is dwindling due to heightened buying pressure from companies like Strategy that regularly acquire Bitcoin for their corporate reserves."Public Companies have bought over 30,000 bitcoin per month so far in 2025," Fidelity Digital Assets wrote in an April 24 X post.The miner reserve ratio, a metric tracking the total number of BTC held in miner wallets, continues to decline. Source: CryptoQuantMichael Saylor's Strategy is currently the largest corporate holder of Bitcoin, outside of crypto exchange companies like Coinbase, and continues accumulating BTC regularly.Adam Livingston, the author of "The Bitcoin Age and The Great Harvest," said that Strategy's aggressive BTC buying is synthetically halving the newly minted BTC supply.Livingston added that institutions like Strategy are purchasing an average of 2,087 BTC per day, dwarfing the daily output of miners, who collectively produce around 450 BTC per day.The rapid accumulation of BTC by institutions outpacing miner output should create a supply crunch that will drive the price of Bitcoin to heights unaffordable for most retail investors, Livingston concluded.Magazine: Financial nihilism in crypto is over — It’s time to dream big again
Published Date: 2025-04-30 17:08:33Creator: Cointelegraph by Vince Quill
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