Jacklulu

#Hashdex推出XRP现货ETF
Background
• Recent attitudes towards cryptocurrency assets in markets such as the United States and Brazil have become slightly more relaxed, and the likelihood and number of approved spot ETFs are increasing.
• XRP achieved a partial victory in last year's lawsuit against the SEC, making some progress in its identity definition (not fully considered a security), thus establishing a legal basis for launching an ETF.
• Although the market is generally volatile, the normalization and financialization of cryptocurrencies (such as entering the traditional financial system through ETFs) is a positive signal.

Personal Opinion
Positive Significance:
The launch of the XRP spot ETF by Hashdex indicates that the ecosystem of cryptocurrency assets is continuing to deepen, especially given XRP's positioning in cross-border payments and financial settlements, which provides it with certain value support. ETFs are a convenient way for traditional investors to enter the cryptocurrency market, benefiting medium to long-term development.
Limited Short-term Impact:
Due to XRP's current overall trading popularity and market capitalization still lagging behind BTC and ETH, the impact of XRP ETF on market sentiment will not be as dramatic as that of Bitcoin spot ETFs, but it is still a localized benefit.

#特朗普称无意解雇鲍威尔

First of all, from the perspective of market psychology, this statement has stabilized investors' expectations for the coherence of monetary policy. Currently, the cryptocurrency market is experiencing a high-level consolidation phase, with Bitcoin just breaking through the $90,000 mark, and the total market capitalization returning to $3 trillion. At this critical moment, any news that undermines the credibility of the dollar or disrupts the independence of the Federal Reserve will quickly amplify the demand for safe-haven assets in cryptocurrencies. Trump's move effectively avoided such drastic emotional fluctuations and provided the market with a relatively stable external environment.

On the other hand, while Trump personally tends to support Bitcoin entering the national strategic reserves, Powell, as the chairman of the Federal Reserve, has consistently taken a cautious or even negative stance towards crypto assets. He has clearly opposed the Federal Reserve's direct involvement in Bitcoin purchases or promoting it as an official reserve, which means that even if Trump wins or if there is a shift in policy direction, the Federal Reserve's substantial support for the crypto market remains very limited in the short term. Therefore, from a medium to long-term perspective, Trump's statement to 'retain Powell' also indicates that current monetary policy will not suddenly become extremely loose or heavily favor crypto assets, which is overall a 'moderate benefit' for the market but not enough to support a sustained surge.

Overall, Trump's statement has alleviated policy risks in the short term and boosted market confidence, allowing the crypto market to maintain strength at high levels. However, from a deeper logical perspective, the Federal Reserve will still adhere to its existing prudent and conservative stance on crypto regulation. The explosion in the crypto space relies more on the expansion of its own ecosystem and the heat of the capital markets, rather than purely relying on policy-driven momentum. In the future, close attention should still be paid to changes in the Federal Reserve's interest rate policy, regulatory dynamics in various countries, and whether Trump will further strengthen specific measures friendly to crypto after the election.

#加密货币总市值重回3万亿
The total market value of global cryptocurrencies has once again surpassed the $3 trillion mark, reaching approximately $3.08 trillion; as early as April 23, the price of Bitcoin soared above $94,000, directly driving the overall market value past $3 trillion. The following points are for reference:
1. Bitcoin's Dominance in the Market
• Bitcoin has recently shown strong momentum, not only rising above the $90,000 mark again, but also increasing its share of the total market value to 61.1%, close to a historical high.
• As Bitcoin continues to reach new highs, institutional and large investor interest is surging, and the launch of compliant tools like ETFs is continually attracting traditional funds into the market.

2. The Role of Institutions and ETFs
• Several asset management institutions have successively launched Bitcoin and Ethereum ETFs, facilitating the entry of compliant funds into the market and providing significant liquidity support in the short term.
• At this stage, the demand for ETFs in the market is still growing, and with more ETF products coming to market in the future, it may further consolidate market valuations.

3. Ecological Diversification and DeFi, Stablecoins
• Aside from Bitcoin, the market value of stablecoins has exceeded $240 billion, accounting for about 7.8%, becoming a market "safety cushion."
• Ecosystems like DeFi and Layer-2 remain active, and as more applications go live, related projects may become the next growth point for market value.
4. Risks and Volatility Reminder
• Although the total market value has returned to $3 trillion, the market experienced a correction of up to 18% in the first quarter, dipping to around $2.8 trillion, indicating that short-term volatility remains significant.
• Regulatory policies, interest rate environments, and international situations remain potential variables, and investors should be cautious of the risks of a market correction after overheating.
5. Medium- to Long-term Outlook
• If Bitcoin and mainstream public chains continue to make breakthroughs in technology iteration and ecological construction, the total market value is still expected to move to higher positions in the future;
• At the same time, as more countries and institutions accept and invest in blockchain technology, the overall market's "health" and "resilience" are expected to further strengthen.

$ETH

Traders should pay attention to key support and resistance levels:
• Support levels: $1,700 and $1,750
• Resistance levels: $1,850 and $1,900

If the price breaks through $1,850, it may further challenge the $2,000 level.

However, it is worth noting that despite the strong performance in the spot market, the derivatives market indicates an increase in long leverage positions, which may lead to increased price volatility in the short term.

Ethereum has shown strong upward momentum driven by institutional funding support and improved market sentiment. However, investors should remain cautious of potential price retracement risks in the short term.

#特朗普暂停新关税

Short-term impact:
After Trump announced a pause on new tariffs, market sentiment quickly improved. The price of Bitcoin rose from around $77,000 to $83,000, an increase of about 7.8%, while other cryptocurrencies such as Ethereum and Solana also saw significant rebounds. Crypto-related stocks like Coinbase and MicroStrategy saw their prices rise by 19% and 24% respectively. This reaction shows the market's positive expectations for easing trade tensions.  

Long-term impact:
Although the market rebounded in the short term, Trump's trade policies still pose challenges to the Web3 ecosystem. For instance, high tariffs on Chinese imports could lead to increased costs for critical hardware such as crypto mining machines, affecting the domestic crypto mining industry in the U.S. Furthermore, the Trump administration's resistance to the digital dollar may encourage other countries to accelerate the development of Central Bank Digital Currencies (CBDCs), potentially undermining the dollar's dominant position in the global financial system.  

Future outlook:
Despite the challenges, the Trump administration's supportive stance on cryptocurrencies may attract more institutional investors to the market. Stablecoins, as alternatives to dollar assets, are expected to see their market size reach $3 trillion by 2030, surpassing the combined holdings of U.S. Treasury securities from China, Japan, and the UK. This indicates that digital assets may play an increasingly important role in the future global financial system.  

Overall, Trump's decision to pause new tariffs has boosted market confidence in the short term, but in the long term, the Web3 and digital currency sectors still need to address the challenges posed by policy uncertainty. Investors should pay attention to policy dynamics and cautiously assess potential risks and opportunities.

#币安Alpha上新

Binance Alpha launched Balance (EPT) on April 21, Dolomite (DOLO) on April 24, and will open EthSign (SIGN) trading on April 28. The zero-fee and points airdrop mechanism attracted a large amount of short-term capital, with an average increase of 15% to 40% on the first day, significantly enhancing liquidity; SIGN will also come with Alpha Points airdrop to incentivize quality users to participate.

However, the contract audits are not yet complete, and the liquidity depth is limited. After the 'first-day effect' fades, there may be profit-taking and selling pressure. Especially with Dolomite's low TVL and weak community foundation, Balance and EthSign may struggle to maintain popularity if they lack sustained functional deployment.

Investors are advised to pay attention to the white paper, team qualifications, and token lock-up and unlocking nodes, to reasonably allocate their positions and reserve Gas fees to control risk. In the medium to long term, if Balance's ecological applications are implemented, Dolomite's TVL continues to grow, and EthSign is widely adopted, related tokens may see a second increase; otherwise, caution is warranted as the Alpha sector may adjust due to market sentiment fluctuations.

The Alpha zone, as an innovation project incubation platform within Binance Wallet, has the advantage of being an 'early prey,' but issues of information asymmetry and high volatility cannot be ignored. It is recommended to set clear profit-taking and stop-loss strategies, continuously track safety audits and community governance progress, and dynamically adjust positions for a steady forward movement.

On April 25, $ETH 4, the price was 1775 USD, fluctuating within the range of 1745–1795 USD during the day; MA50 support at 1760, MA20 resistance at 1790. Volume slightly decreased, short-term support at 1745 is effective for a rebound, breaking below 1730 may lead to further declines.

#以太坊的未来
Personally, I think that technology upgrades: EIP-4844 has implemented Proto-Danksharding, significantly reducing Rollup fees and increasing TPS; the Petra upgrade by the end of 2025 will expand blobs, further enhancing the synergy efficiency between the mainnet and Layer 2.
 
Regulation and funding: The US spot ETH ETF may be approved by 2025, expected to attract billions of dollars in institutional funds; if the SEC classifies ETH as a security, it may trigger risks of exchanges delisting and staking service interruptions.

Ecosystem and competition: The Rollup ecosystem, DeFi, and NFT applications remain prosperous, but we must be wary of the diversion brought by new chains like Solana and Aptos, as well as the uncertainties brought by macro policies and market fluctuations.

#TRUMP晚宴

$TRUMP token price surged rapidly within a few hours—multiple exchanges show that the token's short-term increase ranged between 30% to 60%, with daily trading volume skyrocketing by 2–3 times, and market capitalization increasing by hundreds of millions of dollars in a short period. In contrast, mainstream cryptocurrencies like Bitcoin only experienced fluctuations of about ±2%, more indicative of market sentiment and celebrity effects rather than fundamental favorable drivers.

Looking ahead, the Trump team may continue to leverage social capital tactics such as 'private dinners' and 'limited NFT alternatives' to maintain investor enthusiasm. However, on the policy front, the current Federal Reserve, FDIC, and OCC have successively withdrawn restrictive guidance on banks' cryptocurrency operations, in conjunction with the presidential signing of the 'Strategic Bitcoin Reserve' executive order and several commands promoting digital asset innovation, indicating that the new administration will significantly relax regulations and encourage banks and institutions to participate in the cryptocurrency market. More similar executive actions and friendly regulatory proposals are expected in the short term to consolidate the United States' leading position in the global cryptocurrency space.