The BNB chain recorded exceptional performance in the first quarter of 2025, achieving a revenue growth of 58.1% quarter-over-quarter to reach $70.8 million, according to a report by 'Messari'. This increase was driven by a massive rise in transaction fees between wallets of 122.6%, surpassing the revenues of the DeFi sector.
Despite this growth, the market capitalization of BNB fell by 14.8% to $86.2 billion, but it maintained its position as one of the largest volatile digital assets. On the technical side, the network witnessed the launch of the 'Pascal' update and achieved a significant reduction in 'sandwich' attacks by 90% thanks to preventive MEV efforts.
Bitcoin remained largely unchanged on Friday, after a recent rise brought the cryptocurrency close to surpassing the $100,000 mark again as risk appetite was bolstered by China's indication of its willingness to engage in trade talks with the United States.
Investor sentiment was also bolstered by the announcement of Strategy (NASDAQ:MSTR), the main owner of Bitcoin, regarding a $21 billion stock offering, despite the company reporting a loss for the fifth consecutive quarter.
The broader cryptocurrency prices rose on Friday following China's statements, tracking a rise in risk-driven markets, particularly stocks. However, the range of cryptocurrency gains was limited, as the strong uptick seen in late April seemed to be fading now.
Bitcoin stabilized at $96,999.0000 by 17:20 Saudi time, after rising to a high of $97,226.1000 earlier in the session.
Bitcoin improves as China signals its openness to trade talks with the United States The gains in Bitcoin on Friday came largely after China's Ministry of Commerce stated that it was open to trade talks with the United States, following attempts at dialogue from Washington.
The statements revived hopes for trade negotiations between the world's two largest economies, after they became embroiled in a bitter trade war in April.
The company 'Strategy', currently the largest institutional owner of Bitcoin, announced the acquisition of an additional 15,355 Bitcoins worth approximately $1.4 billion, bringing its total holdings to 553,555 Bitcoins.
The purchases were made between April 21 and 27, at an average price estimated at $92,737 per coin.
This acquisition was financed through the proceeds of the company's stock offering, according to a new disclosure submitted to the U.S. Securities and Exchange Commission.
Hunter Horsley, the CEO of Bitwise, revealed that the rise in Bitcoin's price to $95,000 was not accompanied by an increase in Google search indicators, as searches remain close to their historical lows.
He explained that this indicates that the recent rise was not driven by retail investors, but rather resulted from a broader entry of institutions, advisors, companies, and even some countries into the market. Horsley pointed out that the segment of Bitcoin investors is expanding, reflecting a larger shift in the nature and dynamics of the market.
According to data from Bitcoin treasury bonds, public companies hold approximately 705,373 Bitcoins, representing 3.35% of the total Bitcoin supply.
Among the prominent companies, Strategy (formerly known as MicroStrategy) was one of the first to adopt this trend, followed by other companies such as the Japanese Metaplanet and the American Similar Scientific, which specializes in medical technology.
On the country level, data shows that governments collectively own 529,705 Bitcoins, equivalent to 2.52% of the total supply.
The United States leads the list with a holding of 207,189 Bitcoins, followed by China with 194,000 Bitcoins, then the United Kingdom with 61,000 Bitcoins, and Ukraine with 46,351 Bitcoins, while Bhutan holds 13,029 Bitcoins, and El Salvador holds 6,089 Bitcoins.
Despite the anticipation, ProShares has not yet officially announced the launch date for its three products:
Short XRP ETF, Ultra XRP ETF, and UltraShort XRP ETF.
XRP is currently trading at $2.27, up 1.5% for the day and 9% for the week, having recently reached its monthly peak at $2.36, while remaining behind the performance of some major cryptocurrencies.
Optimism continues in the market regarding the possibility of approving an ETF based on XRP, especially with the appointment of Paul Atkins as head of the Securities and Exchange Commission, along with the CME's announcement of offering futures contracts for XRP, which enhances investors' hopes for the adoption of a spot trading fund as soon as the ongoing legal issues with Ripple are resolved.
- Stability of Bitcoin, Ethereum, and Ripple prices with $590 million inflows into ETF funds
- Arizona passes the first bill to create a state-level Bitcoin reserve
- Delay in the launch of ProShares' ETF for XRP futures contracts
- Tether founder: The dollar faces increasing competition from other assets aimed at supporting stablecoins
- Australia's AUSTRAC calls on dormant cryptocurrency platforms to withdraw their registrations and tightens oversight, stating that they are a hub for money laundering and misuse
Highlights of today's #crypto events and news from #Bitcoin_Arabs:
- Bitcoin price loses the $95,000 level amid warnings of a "blind market" amidst mixed performance of stocks and cryptocurrencies.
- "Trump Media" launches a digital token for public services as part of its expansion plans for the "Truth" platform and investment plans amounting to $250 million.
- The White House reveals a global race to accumulate Bitcoin, and “Bo Hines,” the White House advisor on cryptocurrency, states: We want to be the great digital power.
- The Ethereum Foundation announces a roadmap focusing on layer one, digital entities, improving user experience, and Vitalik's diligent efforts to revitalize the ETH cryptocurrency.
- The US SEC ends legal proceedings against PayPal related to the stablecoin PYUSD.
- The Blockchain Life 2025 forum gathered cryptocurrency leaders from around the world in Moscow with record participation and unprecedented expansion.$BTC $ETH $BNB
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⚪️Solana loses 93% of its revenue due to the drop in meme coins
The Solana network has seen a significant drop in its revenue, which fell from $55.3 million per week in mid-January to just $4 million. The same happened to decentralized applications, where revenue dropped by 86%, and the total value locked in DeFi was almost halved, now standing at $6.4 billion. This decline is attributed to the waning interest in meme coins after there was initial frenzy around them. $SOL
⚪️ A patient whale turns 3 million dollars into 250 million dollars!
⚪️ A major investor bought Bitcoin in 2016 for 3 million dollars, and today its value has exceeded 250 million dollars! ⚪️ He kept the Bitcoin in one address for 8 years, but yesterday he moved it to a new wallet.
⚡️ A move that raised questions: Does he intend to sell or is it just securing the assets?
⚪️Binance Stops USDT Trading in Europe Due to MiCA
Officially, Binance has decided to delist USDT and 8 stablecoins that do not comply with the new European regulations (MiCA).
Users in Europe can keep them, but they cannot trade them directly. Other exchanges like Kraken and Coinbase have followed the same direction, and this may affect liquidity in the European market.
‼️Do you think alternative stablecoins can compensate for USDT in the market, or will we see a liquidity shortage and impact on trading?