The week of April 13–19, 2025, was eventful in the cryptocurrency world, marked by significant market movements and developments. Here's a concise summary of the key happenings:
OM Token Plummets 92% in Hours
MANTRA's OM token experienced a dramatic 92% drop, falling from $6.40 to $0.57.Over $6 billion in market capitalization was wiped out.Co-founder John Mullin attributed the crash to exchange-triggered liquidations.On-chain data revealed over 43 million tokens moved to exchanges before the crash.The disappearance of MANTRA's social media accounts raised concerns about transparency and trust.
Tether Supports Decentralized Bitcoin Mining
Tether partnered with OCEAN, a mining pool led by Bitcoin Core developer Luke Dashjr.The collaboration aims to decentralize Bitcoin mining using the DATUM protocol.Tether's involvement aligns with its initiatives in renewable-powered mining in Latin America and financial inclusion in Africa.
Pi Network Faces Potential 55% Price Drop
Analysts warn of a possible 55% decline in Pi Network's price due to massive token unlocks.Over 1.5 billion Pi tokens are set to enter the market this year.Lack of listings on major exchanges like Binance and Coinbase contributes to weak demand.Technical patterns suggest further downside unless tokenomics are adjusted.
Bitwise Lists Crypto ETPs on London Stock Exchange
Bitwise introduced four Germany-issued crypto Exchange-Traded Products (ETPs) on the London Stock Exchange.The ETPs include products for Bitcoin and Ethereum staking.This move expands institutional access to European digital assets.
Bitcoin's Market Dominance Reaches 3-Year High
Bitcoin's market dominance climbed to 63%, the highest since early 2021.Ethereum, Cardano, and Dogecoin posted double-digit losses over the past month.Investors are gravitating towards Bitcoin as a safer asset amid market volatility.
Ethereum's Value Against Bitcoin Declines
The ETH/BTC ratio dropped to 0.0186, the lowest since January 2020.Technical indicators point to a bearish trend, including a death cross and inverse cup and handle pattern.Competition from Layer 1 and Layer 2 chains like Base and Arbitrum is diverting capital from Ethereum.
HashKey Launches Asia's First XRP Tracker Fund
HashKey Capital introduced Asia's first XRP Tracker Fund, backed by Ripple.The fund targets professional investors seeking exposure to XRP without managing wallets or private keys.Ripple's involvement indicates growing confidence in XRP and potential for future ETFs.
BNB Chain Revamps $100M Incentive Program
BNB Chain updated its $100 million incentive program to directly purchase tokens from selected native projects.The new approach involves direct investments of at least $100,000 per project, based on on-chain checks.The change aims to drive meaningful growth across its Web3 ecosystem.
Arbitrum Surpasses $300B in Uniswap Trading Volume
Arbitrum achieved a milestone by exceeding $300 billion in Uniswap trading volume, leading among Layer 2 networks.The network's user activity surged over 40% this month, bolstered by upgrades like Operation Slowmo and zkVerify.Arbitrum's growth solidifies its position in scaling Ethereum.
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📢Disclaimer: This article is for informational purposes only and does not constitute financial advice. Always conduct your research before making investment decisions.