In April, the SUI protocol attracted $14.7 million in institutional capital, while Solana recorded an outflow of $13.9 million, indicating growing confidence among major players in SUI. The difference in performance between Grayscale’s SUI Trust (+71.8% NAV change) and Solana Trust (no significant NAV change) further highlights the differing market sentiments towards the two assets. In terms of price, SUI gained 56.6% in April, reaching a rate of about $3.54, while Solana increased by 21% to around $151. Despite the impressive growth of SUI, Solana still dominates in terms of size – its market capitalization is approximately $73 billion.
Ripple made a $5 billion acquisition offer for Circle, but it was rejected as insufficient. Ripple wanted to strengthen its position in the stablecoin segment, where it competes with USDC issued by Circle, by acquiring the second-largest company in the market. Circle does not rule out a transaction, but after recent unsuccessful IPO attempts, it considered the proposed valuation too low. Earlier, Ripple invested in the acquisition of the prime brokerage platform Hidden Road for $1.25 billion, and at the beginning of the year, it launched its own stablecoin RLUSD, which has grown to a market capitalization of about $318 million.
As a result of the completion of the Lorentz hard fork, the BNB Smart Chain (BSC) has shortened the block creation time to 1.5 seconds, and the OpBNB layer – even to 0.5 seconds, placing it among the top L2 solutions in terms of speed and low latency. The update significantly improves network throughput and the responsiveness of decentralized applications (dApps). Meanwhile, the upcoming Fusaka hard fork on Ethereum (originally scheduled for May 7 as part of the Pectra update) will not include the EVM Object Format (EOF) – a key change that was meant to enhance the modularity of the virtual machine. This decision stems from a lack of consensus among developers and concerns over the complexity of implementation. The Fusaka launch is now pushed back to Q3/Q4 2025.
Bitcoin ETF with record inflows of 3 billion USD in a week
According to data published on April 27, 2025, American Bitcoin ETF funds recorded total capital inflows exceeding 3 billion USD last week. It was one of the strongest weeks of the season, resulting in an increase in total assets under management (AUM) to around 109 billion USD. The largest share of this result comes from two days – April 22 and 23, when daily inflows reached 936 million and 916 million USD, respectively. Among the eleven Bitcoin ETFs listed in the USA, the leader remains the iShares Bitcoin Trust (ticker IBIT) from BlackRock, with AUM exceeding 56 billion USD, which corresponds to about 3% of the total BTC supply.
Canary Capital has taken the first step towards launching an ETF fund based on the staked SEI token by registering a statutory trust for the 'Staked SEI ETF' in Delaware on April 23. This is the formal beginning of the process, which will conclude with the submission of the S-1 form to the U.S. Securities and Exchange Commission (SEC). The fund aims to mirror the price of the SEI token while passing on staking rewards from the accumulated assets to investors, which distinguishes it from previously approved ETFs in the USA. Registration in Delaware is a standard but necessary step before beginning the SEC approval process.
Plume Network (PLUME) Unlock date: April 21 Number of tokens: 108,340,000 PLUME (1.08% of total supply) worth approximately $17.82 million Current supply in circulation: 2,000,000,000 PLUME Unlock goal: further development and airdrops for the community. Scroll (SCR) Unlock date: April 22 Number of tokens: 40,000,000 SCR (4% of total supply) worth approximately $9.2 million Current supply in circulation: 190,000,000 SCR Total supply: 1,000,000,000 SCR ZONDA (ZND) Unlock date: April 24
SEC delays decision on Grayscale's Ethereum staking ETF
The SEC extends the deadline for a decision regarding the Grayscale proposal, which aims to enable ETH staking in the Grayscale Ethereum Trust and Grayscale Ethereum Mini Trust ETFs. The original deadline, set for April 17, 2025, has been extended to July 2025. This decision was made in accordance with U.S. regulations that allow for an extension of the review period by up to 90 days. The innovative proposal involves the introduction of a staking mechanism that will allow ETF sponsors to earn rewards by participating in the Ethereum proof-of-stake consensus mechanism. As part of the solution, ETH assets will be secured by Coinbase Custody, and staking will be carried out exclusively by the sponsor, without mixing fund assets.
TRUMP Unlock date: April 18 Number of tokens: 40 million (4% of maximum supply) Value: approx. 338.57 million USD The key allocation of tokens goes to creators and investors, which may increase volatility – currently, the price of TRUMP has dropped by over 30% this month. StarkNet (STRK) Unlock date: April 15 Number of tokens: 127.60 million (1.28% of maximum supply) Value: approx. 16.71 million USD Unlocking includes tokens allocated for early contributors and investors. Despite its technical potential as a scaling solution for Ethereum, STRK has seen a decline of over 26% in the last month.
TON Foundation: New Development and Expansion Strategy for the American Market
During an interview at the 2025 Web3 Festival in Hong Kong, Steve Yun – a board member of the TON Foundation – presented the key directions for the development of the TON ecosystem. During the conversation, the issue of the over $400 million investment from the secondary market was discussed, which – although it does not go directly to the foundation – has a significant impact on the entire Toncoin community and miners. The TON Foundation emphasizes that instead of temporary incentives from liquidity provision rewards, the foundation for further development should be the construction of a lasting DeFi ecosystem. As part of these efforts, a comprehensive offering is being developed, including loan protocols, futures-based solutions, decentralized exchanges with limit orders, and dynamic liquidity systems.
The AAVE token, native to the popular lending protocol Aave, will soon enter the token buyback phase. The launch of the initiative is scheduled for April 9, and the project will allocate 4 million dollars for this purpose in aEthUSDT. The goal of the buybacks is to reduce the supply of tokens available on the market, which could potentially lead to an increase in their value. The repurchased tokens will be transferred to the ecosystem reserve, constituting a long-term strategy aimed at enhancing the investment attractiveness of AAVE.
China announced that starting from April 10, it will impose a 34% tariff on all imports from the United States. This decision escalates tensions in the ongoing trade dispute between the two economies. As a result of the announcement, the price of Bitcoin fell by 3% and for a time remained below the level of $82,000, reflecting increasing uncertainty among investors. This change also affected the cryptocurrency market – the Long/Short ratio shifted in favor of short selling, suggesting a rise in pessimistic sentiment.
Polymarket predicts a 50% chance of recession in the USA
According to data from the Polymarket platform, the chances of a recession in the USA have risen to 50% as a result of new tariffs announced by President Trump on Liberation Day. The decision to impose tariffs on foreign goods provoked a sharp reaction in both traditional markets and the cryptocurrency sector. New tariffs, set at a minimum of 10% for key US trading partners, have significantly increased economic uncertainty. The market forecasts of Polymarket, which gained popularity due to accurate election predictions, reflect the current pessimism among investors. The result of these actions is a decline in Bitcoin prices, as well as the search for new trade agreements by US partners who want to avoid the risks associated with unstable tariff policies.
Today, on the occasion of the so-called 'Liberation Day', Trump plans to introduce additional tariffs on the import of Chinese ASIC equipment – a key component in the process of mining Bitcoin and other cryptocurrencies. Increased tariffs may lead to higher operational costs, supply chain disruptions, and pressure on domestic miners who have long relied on imported equipment. Concerns about the new tariffs have been reflected in movements in the Bitcoin and Ethereum-based ETF market. Investors, worried about potential volatility and global trade tensions, have started to withdraw capital – over the past week, Bitcoin ETFs experienced net outflows totaling approximately $218 million, while Ethereum ETFs recorded outflows of around $3.6 million.
Key Macroeconomic Indicators from the USA This Week
1. JOLTS Report – Indicator for the Labor Market On Tuesday, April 1, the JOLTS report will be published, presenting the number of job openings. Strong results (above 7.7 million job offers) would strengthen the dollar; however, they could weaken demand for cryptocurrencies, which often serve as a hedge in times of uncertainty. 2. ADP Employment – Early Signal of Changes in the Private Sector Wednesday's publication of the ADP report will provide insight into employment in the private sector. A strong increase in employment may boost confidence in traditional markets, potentially contributing to pressure on cryptocurrency prices. Conversely, weaker data may steer investors towards alternative assets such as Bitcoin.
World Liberty Financial, a cryptocurrency project linked to the Trump family, has officially launched the stablecoin USD1. The token is set to be issued on the Ethereum and Binance Smart Chain blockchains and maintained at a 1:1 ratio to the US dollar. Its reserves are expected to be backed by short-term US Treasury bonds, dollar deposits, and other cash equivalents, which is intended to emphasize the strategy of promoting dollar dominance. However, reports indicate that the project's investment portfolio contains over $111 million in unrealized losses from cryptocurrency investments, raising concerns about the stability of the new token. This initiative fits into a broader strategy of the Trump family, which, in addition to the stablecoin, is also developing other cryptocurrency ventures, such as the collaboration between Trump Media and Crypto.com in launching ETFs.
5 events from the USA that could impact BTC price this week
#1. PMI for services and manufacturing Data released on Monday from S&P Global for services and industry will be an indicator of the health of key sectors. Strong readings could increase risk appetite, while results below 50 would signal a contraction in the economy. 2. Consumer confidence index On Tuesday, the consumer confidence index is expected, which will reflect sentiments regarding spending. A higher level could favor BTC growth, while a decline in sentiment could trigger a market reaction.
Asset tokenization drives BUIDL fund growth of 129%
BlackRock is intensifying its efforts in the tokenization of traditional assets. Their BUIDL fund, based on tokenized U.S. Treasury bonds, has reached nearly $1.5 billion in assets under management – an increase of about 129% over the last 30 days. Since its launch on the Securitize platform in March 2024, the fund has quickly gained the trust of investors, with over 86% of the issuance operating on Ethereum, while the remainder is distributed among other chains such as Avalanche, Aptos, and Layer-2 solutions like Polygon and Arbitrum.
Bitcoin ETFs Regain Strength – $744 Million in Inflows After Five Weeks of Outflows
American Bitcoin ETF funds recorded an impressive comeback, achieving a net inflow of $744 million over the last week, after five consecutive weeks of outflows. The largest single-day inflow of $274 million was recorded on Monday, March 17 – the highest single-day result in over a month. Such a large rebound occurred after Bitcoin ETFs lost a total of over $5.3 billion since mid-February. The recovery may indicate growing institutional confidence in the cryptocurrency market as macroeconomic concerns ease. However, it should be noted that part of this demand may stem from arbitrage activities rather than a pure desire for long-term investment.
Trump announces the development of dollar-backed stablecoins
President Trump delivered a pre-recorded speech at the Digital Asset Summit, focusing on the prospects of stablecoin regulation and potential support for the American cryptocurrency market. In his speech, Trump emphasized that clear, transparent rules for stablecoins would enable institutions—both large and small—to invest and innovate, which could contribute to increased liquidity across the entire cryptocurrency sector. Citing the administration's achievements to date, the president suggested that in the near future, the government may actively support the creation of dollar-backed stablecoins. Such action would aim to maintain the dominance of the dollar and increase the integration of cryptocurrencies with the U.S. economy, which could also bring positive signals for the markets amid recession worries.
The SEC officially withdrew both its appeal and lawsuit against Ripple Labs, ending a years-long legal battle regarding the sale of XRP. The case, which began in December 2020, involved allegations of conducting an unregistered securities offering valued at $1.3 billion. In July 2023, a U.S. district court ruled that programmatic sales of XRP to retail investors do not qualify as securities transactions. While institutional sales could still violate regulations, the decision to withdraw the lawsuit represents a significant blow to the SEC.