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Ethereum's Technical Indicators Suggest Potential Bull Market

According to Cointelegraph, Ethereum's native token, Ether (ETH), is exhibiting technical and on-chain signals reminiscent of its early 2017 bull run, which saw gains exceeding 25,000%. A notable indicator is the appearance of a Dragonfly Doji candlestick on Ether's monthly chart, a pattern that historically signals a potential bullish reversal. This candlestick formation, characterized by a long lower wick and a close near the opening level, suggests a rejection of lower prices and a possible shift in market control back to the bulls. In December 2016, a similar pattern preceded Ethereum's surge from under $6 to over $1,400 within a year. The recurrence of this pattern in 2021 and 2023, with gains of over 80% and 145% respectively, further underscores its significance. Should the bulls maintain momentum with a strong opening in May, particularly above April's high of approximately $1,950, Ethereum could be poised for a sustained rally, potentially targeting $2,100 initially. Ethereum is also retesting its long-term parabolic support zone, a critical area that has historically acted as a springboard for new uptrends. Chartist Merlijn the Trader highlights this retest, noting its consistency in triggering reversals across cycles. In early 2017, Ethereum's bounce from this parabolic trendline marked the beginning of its breakout phase, propelling the price from around $6 to $1,400. The current retest in 2025 mirrors this setup, suggesting a possible repetition of the cyclical pattern. This support zone's historical significance adds weight to the potential for another explosive rally, as noted by Merlijn the Trader in a recent post. On-chain data further supports the bullish outlook, with Ethereum's MVRV Z-Score re-entering the historical accumulation zone. This metric, used to identify market tops and bottoms, indicates that ETH may have reached its cycle bottom. In previous cycles, dips into this accumulation zone in late 2018, March 2020, and mid-2022 coincided with market bottoms and preceded significant rallies. The current entry into this zone strengthens the argument for a potential upward trend. However, it is important to note that this article does not provide investment advice or recommendations. All investment and trading decisions carry risks, and individuals should conduct their own research before making any financial decisions.
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Ethereum News: Ethereum Pectra Upgrade Launches May 7 — Will ETH Price Finally Rally?

Ethereum's long-awaited Pectra upgrade goes live next week, promising major improvements in user experience, staking, and transaction flexibility. As technical indicators hint at a market bottom, could Pectra be the catalyst that reignites a long-overdue ETH price rally?Ethereum Lags Behind Rivals Despite Bull Market MomentumDespite a broader market recovery, Ethereum (ETH) has underperformed throughout 2024 and early 2025. Trading at $1,813 as of April 30, ETH remains 56% below its local peak from December 2024 and is still far from reclaiming its all-time high of $4,870 set in November 2021. Meanwhile, competitors like Solana and BNB have shown stronger price action.Yet, with the Pectra upgrade scheduled to go live on May 7, Ethereum could be poised for a turnaround — if the update lives up to expectations.What Is Ethereum’s Pectra Upgrade? Key Features and EIPs ExplainedThe Pectra hard fork includes 11 Ethereum Improvement Proposals (EIPs) aimed at solving some of the network's most persistent pain points — scalability, staking, and usability. The most notable upgrade is EIP-7702, which introduces gas fee sponsorship and allows users to pay gas in tokens other than ETH.This change will significantly improve Ethereum’s user experience, particularly for new users, mobile apps, and crypto gaming — all of which suffer from onboarding friction due to gas fees and wallet complexity.Staking Upgrades That Appeal to InstitutionsPectra also includes EIPs 7251, 6110, and 7002, which:Raise validator limits from 32 ETH to 2,048 ETH.Simplify validator entry/exit processes.Improve staking efficiency and flexibility.These changes are especially important for institutional validators, who have shown declining interest in ETH over the past year. With easier onboarding and more control, Pectra could renew institutional staking participation and lock up more ETH, reducing circulating supply.How Pectra Could Impact ETH Price DynamicsThe upgrade is designed to improve both demand and supply-side dynamics of ETH:Demand boost: Better UX and fee flexibility could attract more developers, users, and transaction volume.Supply reduction: More ETH staked plus rising network activity could increase ETH burning, adding deflationary pressure.Currently, Ethereum’s burn rate has dropped to just ~70 ETH per day, compared to over 2,000–4,000 ETH daily in 2024. With more transactions and usage post-Pectra, this number could rise, reinforcing ETH’s value proposition as a deflationary asset.Technical Signals Suggest ETH May Have BottomedOn the technical side, Ethereum appears to have found a local bottom. The weekly RSI broke its downtrend on April 20, which could indicate a trend reversal. ETH has dropped nearly 66% from its December highs, and market structure suggests the worst may be over.While previous Ethereum upgrades — such as the Merge, Shapella, and Dencun — saw short-lived price spikes, Pectra arrives in a different context: the third year of the market cycle, historically when major rallies occur.If sentiment aligns and macro headwinds ease, Pectra could act as the narrative trigger that helps ETH reclaim investor attention and market share.Will Pectra Be Ethereum’s Turning Point?Ethereum’s fundamentals remain strong, but its narrative has lagged behind faster-moving rivals. The Pectra upgrade aims to fix this — bringing gas sponsorship, multi-token payments, and staking upgrades that could reignite adoption and investment.If Pectra succeeds in improving UX and staking confidence, and coincides with a broader altcoin rally, ETH could finally start catching up in the bull market. Investors will also be watching the Fusaka upgrade later in 2025, which could extend the momentum even further, according to Cointelegraph.
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Bitcoin News Today: Bitcoin Climbs 16% in April as Ethereum RWA Tokenization Surges 20%

April 2025 saw major macroeconomic shocks driven by US trade policy and global political changes, yet the crypto market showed resilience. Bitcoin posted a 16% monthly gain, Ethereum strengthened its dominance in real-world asset (RWA) tokenization, and stablecoin growth accelerated amid market volatility.Bitcoin Rebounds 16% Despite Wall Street Sell-Off Post-Tariff ShockApril opened with turbulence after US President Donald Trump enacted sweeping reciprocal tariffs on April 2, targeting 185 nations. Global markets lost over $8.5 trillion in value by April 8, with the S&P 500 plunging 12% and the Dow Jones dropping 2,200 points. Bitcoin (BTC), initially falling 9% during the crash, decoupled from equities and rebounded strongly to trade at $94,729 by month-end — marking a 16.16% monthly gain.While traditional markets remain volatile, crypto traders appear to have priced in the geopolitical risk. The strong recovery in BTC has reignited expectations of a breakout toward the $100,000 resistance.  Ethereum Captures 60% of RWA Tokenization ValueEthereum’s blockchain continues to lead in real-world asset (RWA) tokenization, capturing 60% of the total market share in April, up 20% from the previous month. According to GrowThePie, the value of RWAs on Ethereum hit $6.2 billion, driven by growing institutional adoption.Firms like BlackRock and Franklin Templeton have rolled out tokenized bond and gold pilots, citing Ethereum’s robust infrastructure. BlackRock CEO Larry Fink reaffirmed this stance, stating Ethereum is the “natural default” for tokenization, given its composability and ecosystem maturity.  Canada’s Crypto-Skeptic Liberals Win, But Fail to Secure MajorityIn Canada’s April 28 federal elections, the Liberal Party, led by former central banker Mark Carney, secured 169 seats — three short of a majority. This outcome creates a minority government, potentially complicating crypto legislation.Carney, while skeptical of cryptocurrencies, supports blockchain applications and a central bank digital currency (CBDC). The pro-crypto Conservative Party, under Pierre Poilievre, saw its poll lead collapse after being closely associated with Trump-era rhetoric — including comments suggesting Canada should become the "51st US state."  Two US States Introduce Pro-Crypto Legislation in AprilBoth Texas and Georgia introduced new crypto-related bills in April 2025:Texas HB 5352: Proposes a Blockchain Technology Pilot Program for evaluating state-level use cases in transparency, efficiency, and security.Georgia HR 905: Advocates for blockchain and crypto literacy campaigns in K–12 education.Meanwhile, Arizona enacted a law that protects home crypto mining, classifying it under “computational power,” which includes AI, cloud computing, and blockchain node operation.  Stablecoin Market Cap Grows by $4B Amid Market UncertaintyThe stablecoin sector added $4 billion in market capitalization in April, led by increased adoption and easing regulatory tension. According to CoinGlass:The STABLE Act passed a key vote in the US House Financial Services Committee.The SEC dropped its inquiry into PayPal USD (PYUSD), signaling regulatory softening.Japan continues to lead with a permissive framework for stablecoins and RWAs.Data from IntoTheBlock suggests investors increasingly view stablecoins as safe-haven assets, especially amid macroeconomic and market volatility، according to Cointelegraph.  Key Takeaways from April 2025 in CryptoBitcoin gained 16% despite global financial turbulence, outperforming traditional markets.Ethereum RWA tokenization surged 20%, reaffirming the network’s utility in real-world finance.Crypto regulation evolved, with several US states pushing education and pilot programs.Stablecoin demand remains strong, with signs of easing regulatory barriers.As Trump’s first 100 days continue to reshape economic dynamics, crypto markets appear to be stabilizing, with participants now focusing on regulatory clarity and long-term adoption trends.
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Tether Eyes U.S. Market with New Stablecoin Launch

According to Cointelegraph, Tether is planning to introduce a stablecoin product in the United States by the end of this year or early next year, as revealed by the company's CEO, Paul Ardoino, during an interview with CNBC on April 30. Tether's flagship stablecoin, USDT, is already recognized as the leading 'exporter' of the US dollar, boasting a market capitalization of nearly $150 billion, based on CoinGecko data. The expansion into the U.S. market is contingent upon the progress of stablecoin legislation by U.S. lawmakers, Ardoino noted. Tether is actively engaging with U.S. regulators, emphasizing the benefits of USDT for the U.S. economy and collaborating with law enforcement to ensure compliance. Ardoino expressed confidence in the product, stating, "We are just exporters of what we believe to be the best product the United States ever created — that is, the US dollar." As of April 25, USDT held approximately 66% of the stablecoin market share, according to Nansen, a Web3 research firm. Tether has established itself as the most profitable stablecoin issuer, reporting a net income of nearly $14 billion in 2024. The company generates revenue by accepting US dollars to mint USDT and investing those funds into highly liquid, yield-bearing instruments like US Treasury bills. Despite its global popularity, USDT's usage within the United States remains limited, with USDC being the dominant stablecoin domestically. Tether's strategy involves designing USDT for users in regions such as small villages in Africa or shop owners in Istanbul, as Ardoino explained to CNBC. Meanwhile, Tether is developing a distinct product tailored for the U.S. market. The adoption of USDC has surged following U.S. President Donald Trump's election victory in November, as highlighted in a report by Nansen on April 25. Circle's USDC currently has a market capitalization exceeding $60 billion, according to CoinGecko. Despite the growing competition, USDT is expected to maintain its leading position in the stablecoin market. Nansen's report suggests that the stablecoin market is likely to follow a 'winner-takes-most' dynamic, with USDT continuing to dominate. The evolving landscape of stablecoins presents opportunities and challenges, but Tether remains optimistic about its prospects in the U.S. market.
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Bitcoin News: Bitcoin Price Drops Below $94K Amid Profit-Taking Pressure — But Whales Are Still Accumulating

Bitcoin’s price dip under $94,000 on April 30 is testing the market’s conviction, following recessionary signals from U.S. GDP data and a surge in realized profits. While smaller holders are selling, whales remain in accumulation mode — hinting that the bull market may still be intact despite the short-term volatility.US GDP Contraction Triggers Recession Fears, BTC Drops Below $94KBitcoin fell to $93,919 after the U.S. Q1 GDP showed a surprise contraction of -0.3%, versus an expected +0.3%. The GDP Price Index surged to 3.7%, its highest since August 2023, triggering concerns over stagflation. Meanwhile, Core PCE inflation for March landed at 2.6%, in line with expectations, but February’s revision to 3.0% added to uncertainty around future Fed policy moves.These mixed inflation signals have left markets cautious. Odds of a 2025 recession hit 67%, according to Polymarket. This macro backdrop is a key reason for Bitcoin’s pullback near the $95,000 resistance level, as investors weigh potential rate decisions.Bitcoin Sees $300M in Spot Volume Sell-Off Over 3 DaysGlassnode data reveals that BTC spot volume delta has dropped by more than $300 million since April 26, pointing to increased selling pressure:April 26: -$16MApril 27: -$30.9MApril 28: -$76.1MApril 29: -$193.4MThis sharp negative delta reflects aggressive short-term profit-taking, often seen at market tops. The 7-day moving average of BTC spot volumes confirms weakening demand, especially as Bitcoin continues to stall below the $95K resistance.Whales Accumulate as Retail Investors SellDespite the sell-off, whales — addresses holding over 10,000 BTC — continue to accumulate, with a Glassnode accumulation trend score near 0.95, signaling strong confidence from deep-pocketed players.In contrast:10–100 BTC holders: Trend score ~0.61–10 BTC holders: Trend score ~0.3<1 BTC holders: Trend score ~0.2This divergence shows that retail and mid-sized holders are taking profits, while whales are positioning for a longer-term uptrend — a pattern reminiscent of early-stage bull market cycles.Realized Profits Spike — Market Faces “Profit-Taking Pressure Test”The total realized profit surged to $139.9 million/hour last week, roughly 17% above the $120 million/hour baseline. This spike aligns with BTC’s recent rejection near $95,500, suggesting traders are cashing in on the 30% rally from April lows.Still, this “profit-taking pressure test” may not mark the end of the rally. Similar behavior in past cycles — such as March 2024 and December 2020 — often preceded consolidation and new highs, particularly when whale accumulation and macro tailwinds were present.TakeawayBitcoin’s reaction to weak GDP data and sticky inflation has triggered short-term selling, especially by retail holders. But whale accumulation, historical profit-taking patterns, and cooling PCE inflation offer a bullish longer-term backdrop.If BTC manages to reclaim $95,000 and sustain above that level, a breakout toward $100,000 remains on the table. For now, all eyes are on macro data releases and whale wallet behavior as key directional indicators.
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Crypto News: Bitcoin and Altcoins Set for Breakout as Volatility Hits 563-Day Low — Key Price Levels for BTC, ETH, XRP, BNB, and SOL

Bitcoin and Altcoins Poised for Breakout as Volatility Hits 563-Day LowBitcoin's 7-day volatility has dropped to its lowest in 563 days, signaling a potential breakout. While BTC hovers near $95,000, altcoins like Ethereum, XRP, and Solana show mixed signals. Here's a detailed analysis of the top 10 cryptocurrencies as of April 30, 2025.​Bitcoin (BTC): Eyeing the $100K MilestoneBitcoin is trading around $95,000, with a 7-day volatility at a 563-day low, indicating a possible significant price movement. A breakout above $95,000 could propel BTC towards the psychological resistance at $100,000. If surpassed, the next target could be $107,000. However, failure to break this level might lead to a pullback to the 20-day EMA at $90,102 or even the 50-day SMA at $85,645. ​Ethereum (ETH): Approaching a Bullish BreakoutEthereum is holding above $1,800, with technical indicators suggesting a potential bullish breakout. A move above $1,858 could lead ETH to rally towards $2,111, a significant resistance level. Surpassing this could signal the end of the downtrend and target $2,550. Conversely, a drop below the moving averages might indicate a range-bound movement between $2,111 and $1,368. ​XRP: Testing Key Support LevelsXRP has turned down from its resistance line and slipped below the moving averages, indicating potential bearish momentum. If the price continues to decline and closes below the moving averages, XRP could retest the critical support at $2. A break below this level might lead to a drop towards $1.61. However, a rebound above the resistance line could suggest the end of the downtrend, with a possible rise to $3. ​Binance Coin (BNB): Bulls Losing MomentumBNB has slipped below its moving averages, indicating a loss of bullish momentum. To regain control, buyers need to push the price back above the moving averages. A break above $620 could open the path to $644 and potentially $680. Failure to reclaim these levels might result in a decline to $576 or even $566. ​Solana (SOL): Consolidation Before the Next MoveSolana is trading around $147, with the bulls attempting to sustain the price above the 20-day EMA at $140. A strong rebound could lead to a breakout above the $153 resistance, targeting $180. However, a break below the 20-day EMA might signal a consolidation phase between $110 and $153. ​Dogecoin (DOGE): Range-Bound with Potential for BreakoutDogecoin remains range-bound between $0.14 and $0.21. A breakout above $0.21 could complete a double-bottom pattern, targeting $0.28. On the downside, a break below $0.14 might resume the downtrend towards $0.10. ​Cardano (ADA): Holding Above SupportCardano is sustaining above its moving averages, but the bulls have yet to initiate a strong rebound. A drop below the moving averages could lead to a decline towards $0.58. To prevent this, buyers need to push the price above the $0.75 resistance, potentially targeting $0.83. ​Sui (SUI): Facing Resistance at $3.90SUI attempted to break above the $3.90 resistance but faced selling pressure. A decline below the 38.2% Fibonacci retracement level at $3.14 could lead to a drop to the 20-day EMA at $2.89. A successful breakout above $3.90 might propel the price to $4.25 and later to $5. ​Chainlink (LINK): Testing Support LevelsChainlink failed to surpass the $16 resistance, pulling back to its moving averages. A rebound could lead to a retest of the descending channel's resistance line. However, a break below the moving averages might open the path to a decline towards $11.68. ​Avalanche (AVAX): Potential for Double-Bottom FormationAvalanche has dropped to its moving averages, which could attract buying interest. A rebound might lead to a breakout above the overhead resistance, completing a double-bottom pattern with a target of $31.73. Conversely, a break below the 50-day SMA at $19.68 could keep the pair within the $23.50 to $15.27 range. ​The cryptocurrency market is at a pivotal point, with Bitcoin's low volatility suggesting an impending significant move. While some altcoins show bullish potential, others face critical support levels. Traders should remain cautious and watch for key technical indicators to guide their strategies.
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Ripple’s $4–$5 Billion Acquisition Bid for Circle Reportedly Rejected

Blockchain payments firm Ripple reportedly made a $4–$5 billion acquisition offer for Circle, the issuer of the USDC stablecoin — but the bid was rejected, according to a Bloomberg report citing sources familiar with the matter.The proposed deal, which would have marked one of the largest mergers in the digital asset sector, was reportedly turned down for being too low. Bloomberg noted that Ripple has not yet decided whether to submit a higher follow-up offer.Bid Came Shortly After Circle Filed for IPOThe failed acquisition attempt comes just weeks after Circle filed for an initial public offering (IPO) in the United States — a move widely seen as an effort to strengthen its market position amid rising competition from other stablecoins like USDT, DAI, and FDUSD.Both Ripple and Circle have yet to issue official statements regarding the reported bid. Cointelegraph reached out to both firms for comment but had not received a response at the time of publication.Ripple’s Strategic ExpansionRipple’s interest in acquiring Circle aligns with its broader strategy of expanding its footprint in the stablecoin and payments infrastructure market. Ripple recently announced plans to launch its own XRP-backed stablecoin, as well as explore further institutional partnerships and product offerings in 2025.A successful acquisition of Circle — the second-largest stablecoin issuer with over $32 billion USDC in circulation — would have significantly accelerated Ripple’s entry into the stablecoin market and provided direct access to a vast user base and regulatory relationships.Industry ImplicationsHad the deal gone through, it would have represented a major consolidation move in the crypto sector, potentially reshaping the stablecoin landscape and Ripple's positioning within U.S. regulatory frameworks. Analysts note that Circle’s IPO ambitions likely contributed to its decision to reject the offer, as a public listing could command a higher valuation than Ripple’s bid.
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Global Interest in Non-Dollar Stablecoins Grows Amid Sovereignty Concerns

According to Cointelegraph, governments outside the United States, including Singapore, are showing increased interest in stablecoins not tied to the U.S. dollar. Despite their limited liquidity, these non-dollar stablecoins are gaining attention due to sovereignty issues, as highlighted by Dea Markova, Fireblocks' director of policy, during an interview at Token2049. Markova noted that the competition with dollar-pegged stablecoins is primarily about sovereignty, drawing parallels to past tensions between governments and U.S. payment giants like Visa and Mastercard. She emphasized that stablecoins are emerging as a new area of sovereign concern, albeit on a smaller scale for now. Markova pointed out that dollar-pegged stablecoins operating within the European Union are facing significant challenges, particularly from central banks. Despite being compliant and regulated, these stablecoins encounter resistance. The European Central Bank is pushing for the rapid development of a digital euro, citing the systemic impact of dollar-linked stablecoins within the eurozone as a concern. On April 29, the Bank of Italy released a report highlighting the potential systemic risk vulnerabilities due to dollar-pegged stablecoins' reliance on U.S. Treasury bonds. Currently, the market capitalization of stablecoins is dominated by dollar-pegged coins, with Tether’s USDT and Circle’s USDC accounting for a significant portion of the market. Markova also highlighted the regulatory advancements in the United Arab Emirates, noting that the UAE is ahead in its regulatory thinking regarding stablecoins. She cited Abu Dhabi as an example, where the regulatory approach does not require stablecoin issuers to be domiciled or licensed locally, unlike in Europe. Instead, Abu Dhabi conducts due diligence on global stablecoins to determine if local exchanges can offer them, providing 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. Additionally, Abu Dhabi institutions are working on launching a regulated dirham-pegged stablecoin, further illustrating the region's proactive stance on stablecoin regulation.
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