Cryptocurrency market recovered in the recent week. Total crypto market capitulation has breached $3 trillion for the very first time since early March.
BitcoinBTC( ) rose above the $97,300 mark last seen in February at the end, “Liberation Day” Analysts predict a rise in stock prices driven by the announcement of tariffs. “structural” Inflows of institutional investors and ETFs in the first crypto currency.
As Chinese state-linked media outlets reported, the Trump Administration has secretly contacted Beijing in order to discuss tariff cuts.
Ethereum’s developers, working in the wider crypto-space, proposed a standard for tokens to enhance the interoperability between the world’s second largest blockchain.
Bitcoin to $1 million by 2029 fueled by ETF and gov’t demand — Bitwise exec
Bitcoin’s growing institutional adoption could provide the “structural” inflows necessary to surpass gold’s market capitalization and push its price beyond $1 million by 2029, according to Bitwise’s head of European research, André Dragosch.
“Our in-house prediction is $1 million by 2029. So that Bitcoin will match gold’s market cap and total addressable market by 2029,” He told Cointelegraph at the Chain Reaction Daily X spaces show On April 30,
Over $21.7 trillion is the value of gold, making it currently the largest asset in existence. Bitcoin is the world’s seventh largest asset, with a market cap of $1.9 trillion. according CompaniesMarketCap provides data on companies.
Bitcoin could reach $200,000 by 2025. “base case” Dragosch claimed that more government adoption could result in a $500,000 increase.
Eric Trump: Binance investment of $2 billion MGX will use USD 1
Abu Dhabi’s investment company MGX is using a stablecoin tied to the family of US President Donald Trump to settle a $ 2 billion investment into Binance, which is the largest cryptocurrency exchange in world.
It is important to note that the word “you” means “you”. World Liberty Financial USD The World Liberty Financial (WLFI), a crypto-platform associated with Donald Trump, launched a stablecoin pegged to the US dollar in March 2025.
Eric Trump announced during a Token2049 panel in Dubai that MGX would use USD1 as a stablecoin to fund its $2 billion Binance investment. Trump is the executive vice president for the Trump Organization. He is the son of President Trump.
MGX announced its Binance was the recipient of a major investment on March 12th, marking its first ever institutional funding and the largest deal in Web3’s entire industry.
Binance refused to reveal the stablecoin used for the transaction.
The Abu Dhabi-based firm is the first to venture into cryptocurrency.
Ethereum simplifies cross-chain transactions through new Token Standards
Ethereum developers work to improve interoperability of blockchains with new token standards ERC-7930, and ERC7828.
“There’s no standard way for wallets, apps, or protocols to interpret or display this information,” decentralized finance (DeFi) ecosystem Wonderland is a leading development organization that wrote a letter in the May 1, X post. Wallets, decentralized applications (DApps)Block explorers, smart contracts and their rules are different.
“The result? A messy, inconsistent experience that breaks crosschain UX,” Wonderland is a statement.
Wonderland, a team of researchers and developers focused on the Ethereum DeFi eco-system. The organization partnered With DeFi, you can use Optimism as well as Aztec, Connext, and Yearn.
The organization posted what it had learned. discussed At a recent Ethereum Foundation Interoperability Working Group call. Teddy He added: “The current goal of Wonderland is to complete both token standards in the next two weeks.” He said:
“We badly need feedback on the ETH-Magicians forum.”
In April, crypto hackers doubled their attacks on DeFi to $92 Million.
In April 2018, cryptocurrency hackers stole over $90,000,000, a blow to mainstream industry reputation in spite of ongoing cybersecurity efforts.
According to a research report released by Immunefi, a blockchain security firm, hackers stole $92 Million in digital assets over 15 incidents between April and April 30, 2018.
This is a 124% increase over March when hackers took $41,000,000.
Most of April’s damage came from the month’s biggest hack, which was on UPCX open-source software. over $70 million Losses are incurred. KiloEx lost $7.5 million The second biggest hack in April.
It is important to note that the word “you” means “you”. KiloEx exploiter returned The funds were stolen just a few days after the incident.
The report states that all of the April reported attacks have targeted platforms for decentralized financing (DeFi). Reports noted that centralized exchanges had no reported incidents for the month.
Immunefi has paid out more than $116 Million in bountys to hackers who are white-hat.
Roman Storm: Crypto group requests that Trump end the prosecution of cryptocurrency developers
DeFi Education Fund has asked the Trump Administration to stop what they claim is the crypto-lobbying. “lawless prosecution” Roman Storm was one of these open-source software creators, and the man behind Tornado Cash.
The 28th of April is a day to remember. letter White House Crypto czar David SacksThe group called on President Donald Trump “to take immediate action to discontinue the Biden-era Department of Justice’s lawless campaign to criminalize open-source software development.”
Storm’s prosecution was mentioned in the letter. who was charged Tornado Cash in August 2023. He is accused of helping launder over $1 billion in crypto through Tornado Cash. still set for JulyRoman Semenov – the other cofounder charged with the crime – is still at large. He’s believed to be hiding in Russia.
DeFi Education Fund stated that the Department of Justice was trying to hold Storm accountable in Storm’s case. software developers Criminally responsible for the way others use your code. “not only absurd in principle, but it sets a precedent that potentially chills all crypto development in the United States.”
This group called on the government to recognize that this prosecution is in contradiction with the Treasury Department’s Financial Crimes Enforcement Network (FinCEN), which was established during Trump’s first term. It stated that those who develop peer-to-peer, self-custodial protocols were not considered money transmitters.
“This kind of legal environment does not just chill innovation — it freezes it,” The argument was argued. It also added “empowers politically-motivated enforcement and puts every open-source developer at risk, regardless of industry.”
In Texas, in January, the federal court ruled that Treasury had violated its own rules. overstepped its authority Tornado Cash can be sanctioned by the government.
Overview of the DeFi Market
Data from Cointelegraph Markets Pro TradingView reports that the majority of top 100 cryptos by market cap ended up in green.
Virtuals Protocol token (VIRTUAL), which has gained over 103% in the last week, is the biggest winner, followed by Solayer token (LAYER), up 29%.
We thank you for taking the time to read our weekly summary on DeFi. Next Friday, we’ll be back with more information and stories about this rapidly evolving space.
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Source: cointelegraph.com
