Coin360 Weekly Dispatch | Crypto Market Updates & Highlights | April 6 - April 12, 2025

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Crypto Weekly Recap

Bitcoin:

• Weekly performance: -0.43%
• US Spot BTC ETF: -$713.30M
• Bitcoin is trading at $83,600 on April 12, almost unchanged from its price on early April 6.
• BTC reached an intraday high of $88,000 on April 1 due to anticipation of President Trump's tariff announcement, but fell to a five-month low of under $75,000 on April 7 in response to tariff details.
• Following Trump's announcement of a 90-day tariff pause on April 9 night (UTC), ETF inflows resumed and price recovered to $83,500.
• BTC kept seeing volatility as White House raised tariff rate on China to 145%, then China fired back with a 125% tariff on U.S. goods, pushing the price below $80,000 before recovering during the weekend.
• The US Federal Reserve is prepared to intervene in financial markets if liquidity issues arise, according to Boston Fed President Susan Collins amid asset selloffs in stocks and bonds, and DXY dropping to a three-year low. 
• Macroeconomic factors heavily influenced BTC’s price; Trump's tariffs and China’s retaliatory measures led to significant sell-offs in global markets.
• US consumers' 12-month inflation expectations rose sharply to 6.7%, the highest since 1981, up from 5.0% in March, according to Reuters.
• BTC's weekly peformance lagged behind the S&P 500's 8.27% and gold's 6.84% rise, partly due to bearish news popping up at the weekend when markets were closed for the latter assets.
• Future outlook suggests that holding above $83,700 could lead to targets near $90,000, while breaking below $82,000 may risk revisiting $75,000.

Ethereum:

• Weekly performance: -11.80%
• US Spot ETH ETF: -$82.47M
• Ethereum faced significant downturn this week influenced by macroeconomic factors and regulatory news.
• U.S. 90-day tariff pause powered ETH's rebound from a weekly low of $1,400—slightly lower than its 2018 peak level—to $1,680, with support from SEC's approval for ETH ETF options trading a few days later.
• Ethereum's DEX volume has dropped significantly, with daily unique traders down to 40,000, the lowest in 12 months, compared to a peak of 95,000 in late 2024. 
• Daily DEX trading volume on Ethereum decreased to $57B in March 2025, nearly half of the $112 billion at the December 2024 peak. This is attributed to reduced user activity and smaller average trade sizes amid a cooling market and decreased speculative capital flows. 
• A report suggested that ETH has only outperformed BTC 15% of the time since its launch almost a decade ago. 
• Prediction markets reflect increasing confidence, with a 60% chance of ETH closing above $1,600 in April, supported by regulatory developments and market dynamics.
• Amid price fallout, technical developments are still proposed as Vitalik Buterin outlined the roadmap to boost Ethereum Layer 1 privacy.

Altcoins:

• TradFi tied deeper with crypto via new debit card, stablecoin, and network deals.
• Nations moved away from dollar dominance under new global crypto rules this week.
• Smart money still focused on Bitcoin and Solana, and shifted treasuries.
• Crypto fund flows rose for ETH options, XRP ETF, and SUI bets.
• Trump overturned IRS crypto rule while SEC softened enforcement tone.
• BlackRock added Anchorage Digital as a new Bitcoin custodian.
• Aave DAO approved $1M weekly buyback under its revised tokenomics plan.
• Mantra launched a $108M ecosystem fund for DeFi and tokenized assets.
• World Liberty Financial proposed a USD1 stablecoin airdrop for WLFI holders.
• Cosmos launched Eureka to link Ethereum with IBC networks.
• Babylon deployed Genesis mainnet in the second phase of its rollout.
• RedStone launched its 'Bolt' oracle on MegaETH, a monolithic ETH scaling solution.
• Immutable merged Immutable X and zkEVM into a single unified chain.
• Aavegotchi DAO voted to migrate from Polygon to Base amid ecosystem downsizing.
• Synthetix USD lost its peg, dropping to a 5-year low of $0.83.
• Arbitrum DAO saw $6.5M in votes bought for just 5 ETH.
• A white hat hacker front-ran a Morpho exploit and rescued $2.6M in crypto.

Trump Signs Landmark Bill Repealing IRS DeFi Broker Rule, Boosting Crypto Industry

President Trump signed H.J.Res.25 into law, marking a historic moment in the U.S. crypto landscape by overturning the IRS’s DeFi broker rule. This legislation, the first crypto-focused bill enacted, repeals the requirement for decentralized finance (DeFi) platforms to report user data as brokers. The law, supported by key figures like Representative Mike Carey and Senator Ted Cruz, shields DeFi entities from similar future regulations without Congress’s approval. Industry leaders hailed the repeal as a pivotal shift towards innovation and privacy, further solidifying the U.S.'s position as a potential global leader in digital assets.

SEC Dismisses Helium Case, Signals Crypto-Friendly Shift Under New Chair Paul Atkins

The SEC dismissed its lawsuit against Helium Network's parent company, Nova Labs, signaling a shift from an enforcement-heavy approach to a more industry-friendly stance under newly confirmed Chair Paul Atkins. This case, initiated in January 2025, concluded with a minimal $200,000 settlement. Under Atkins, the SEC emphasizes engagement and regulatory clarity, launching a crypto task force and pausing actions against major firms like Binance and Coinbase. It issued new guidance on token disclosures, avoiding blanket classifications of tokens as securities. Proposed reforms may include safe harbor provisions and streamlined crypto ETF approvals, addressing industry concerns.

Binance Enhances Community Governance with New Listings, Delistings, and Yield-Bearing Stable Asset

Binance is enhancing community governance with new listings, delistings, and a yield-bearing stable asset, LDUSDT, aimed at boosting capital efficiency. In its recent “Vote to List” campaign, three tokens—Ondo (ONDO), Big Time (BIGTIME), and Virtuals Protocol (VIRTUAL)—were added, with price increases of 3.81%, 30.69%, and 16.46%, respectively. Simultaneously, Binance launched a “Vote to Delist” campaign for 17 tokens, including PDA and VOXEL, promoting user involvement in asset management. The exchange’s strategic moves align with its commitment to decentralization and efficient trading, while also exploring a partnership with World Liberty Financial to regain U.S. market access.

Strategy Reports $5.91B Bitcoin Loss Amid Rising Debt Risks

Strategy faces significant financial challenges, reporting $5.91 billion in unrealized Bitcoin losses in its Q1 2025 SEC filing. Despite holding 528,185 BTC worth $41.3 billion, the company's average purchase price of $95,000 per coin has left it unprofitable, with stock prices dropping 10.6% recently. Strategy has accumulated $8.2 billion in debt and faces annual dividend obligations of $146.2 million, further complicating its financial situation. Michael Saylor’s “HODL” stance contrasts with the risk of liquidation if capital markets tighten. The company's leveraged position in Bitcoin could lead to increased volatility should it need to sell its holdings.

Grayscale Expands Altcoin Strategy to 40 Tokens, Adds DOGE and Pyth Trusts

Grayscale Investments has expanded its "Assets Under Consideration" list to 40 cryptocurrencies for Q2 2025, increasing from 39 in January. Notable additions include Dogecoin and Pyth Network, now active trusts, emphasizing diversification beyond Bitcoin and Ethereum. Significant removals from various categories reflect a strategic tightening, particularly in the Utilities and Services segment. The update introduces high-profile projects like VeChain and TRON, alongside new financial assets such as Binance Coin. Grayscale emphasizes that inclusion does not guarantee trust launches, highlighting their evolving focus on assets with strong market use cases and institutional alignment as priorities shift in the crypto sector.

XRP Rises with Leveraged ETF Launch, Ripple's Acquisition, and Ethereum Forecast Upgrade

XRP is gaining traction as Teucrium launches the first U.S.-listed leveraged XRP ETF, the 2x Daily XRP ETF (ticker XXRP), following a favorable ruling in the SEC's lawsuit against Ripple. This ETF aims to deliver twice the daily return of XRP with a 1.85% management fee. Ripple’s $1.25 billion acquisition of Hidden Road further strengthens its position in the financial sector, and Standard Chartered forecasts XRP will surpass Ethereum in market cap by 2028. Regulatory clarity and institutional interest are climbing, with approval odds for spot XRP ETFs now at 86%. XRP's price briefly rose nearly 11% to $1.96.

CZ Denies Testifying Against Justin Sun Amid Binance's U.S. Market Push and Trump Ties

Binance's founder, Changpeng Zhao (CZ), has denied reports alleging he agreed to testify against his friend, Justin Sun, as part of a DOJ plea deal. Sun defended CZ as a close mentor and emphasized his collaboration with the DOJ. Binance, under new CEO Richard Teng, seeks to re-enter the U.S. market post-settlement and may list a new stablecoin linked to Trump-affiliated World Liberty Financial (WLFI). Rumors suggest potential investments from Trump affiliates in Binance.US, amidst discussions of reducing regulatory scrutiny under a possible second Trump administration. CZ, with a net worth of $59.4 billion, remains influential despite legal challenges.

Top Weekly Altcoin Gainers and Losers

Gainers:

Onyx XCN (+124.80%)

Fartcoin FARTCOIN (+72.12%)

JasmyCoin JASMY (+38.57%)

Hyperliquid HYPE (+30.11%)

Curve DAO Token CRV (+23.96%)

Losers:

EOS EOS (-23.85%)

Tezos XTZ (-18.91%)

NEAR Protocol NEAR (-15.10%)

Cosmos ATOM (-14.65%)

Walrus WAL (-14.24%)