According to the monitoring data from Lookonchain, an hour ago, a newly established wallet withdrew 420 Bitcoins (BTC) from the cryptocurrency trading platform Binance. Based on the current market conditions, the value is approximately 39.2 million US dollars. This fund transfer movement has drawn market attention, and investors and industry observers are closely tracking the subsequent operations of this wallet.
Meanwhile, Ponzi Trader issued a security warning that the official X account of Hyperliquid has been compromised. Relevant personnel urgently remind: Do not click on any links posted by this account to prevent online fraud or asset loss.
Real-time cryptocurrency market updates
As of the time of publication, Coingecko data presents the latest trading prices and intraday fluctuations of major cryptocurrencies: The recent trading price of Bitcoin (BTC) was $94,295.27, with an intraday decline of 0.7%. Ethereum (ETH) traded at $1,800.96, with an intraday increase of 0.1%. Binance Coin (BNB) was quoted at $601.15, with an intraday decline of 0.8%. Solana (SOL) traded at $146.65, with an intraday decline of 0.6%. DOGE traded at $0.1751, with an intraday decline of 1.8%. Ripple (XPR) recently traded at $2.25, with an intraday decline of 2.3%.
Policy promotion and industry innovation measures
The Solana Policy Institute, in collaboration with institutions such as Superstate Inc., Lowenstein Sandler LLP and Orca Creative, A brand-new framework named “Project Open” was submitted to the Crypto Task Force of the U.S. Securities and Exchange Commission (SEC) on Wednesday this week. This framework aims to conduct on-chain operations on equity securities such as stocks. Relevant institutions stated that this pilot project is an important manifestation of financial innovation in the United States, and is expected to enhance the transparency of the financial market, achieve immediate transaction settlement, and reduce operating costs. It is worth mentioning that Larry Fink, the CEO of BlackRock, previously pointed out that all kinds of assets have the potential for tokenization.
Paul Ardoino, the CEO of Tether, disclosed in an interview with CNBC on April 30 that Tether plans to launch a new stablecoin product in the United States this year. The specific launch time will depend on the progress of US lawmakers in stablecoin legislation. Ardoino emphasized that the USDT issued by Tether currently has a market value of nearly 150 billion US dollars, accounting for approximately 66% of the stablecoin market share, and can be called “the best product in the history of the United States”. Meanwhile, Tether is actively collaborating with law enforcement agencies to demonstrate the positive impact of USDT on the US economy.
According to Politico, John Thune, the majority leader of the US Senate, said in a closed-door meeting that the Senate will handle the “GENIUS Act” proposed by Senator Bill Hagerty before May 26. The bill was passed by the Senate Banking Committee in March, proposing to restrict any entity other than “licensed payment stablecoin issuers” from issuing payment stablecoins. The House of Representatives also proposed a supporting bill, the STABLE Bill. Democratic lawmakers criticized Trump for his close ties with related stablecoin enterprises, fearing an “unprecedented conflict of interest”.
Despite the government’s suspension of Bitcoin-related activities to obtain a $1.4 billion loan, El Salvador quietly bought Bitcoin through the Bitcoin Office. Last month, 32 new bitcoins were added. Currently, more than 6,160 bitcoins are held, with a value of approximately 584 million US dollars. The IMF confirmed that the country’s finance department fulfilled its commitment of “no new holdings”, but the Bitcoin Office “operated outside these fiscal definitions” and circumvented restrictions through “technical loopholes”. To unlock IMF funds, Saudi Arabia will abolish Bitcoin as a mandatory payment and tax payment method starting from May 1st. However, President Bukel remains “committed to the Bitcoin strategy”.
In its April 2025 “Financial Stability Report”, the Bank of Italy pointed out: “The strong growth of Bitcoin and other highly volatile crypto assets not only means that investors are at risk, but also may pose a potential threat to financial stability due to the increasingly strengthened connection between the digital asset ecosystem and the traditional financial sector and the real economy.” The report also pointed out that non-financial companies holding Bitcoin “exposes them to significant price fluctuations” and warned that stablecoins pegged to the US dollar “could pose risks if they become systemically important”.
Major transactions and layouts in the cryptocurrency field
Onchain Lens monitored that a cryptocurrency whale deposited $5 million of USDC into the HyperLiquid platform and opened a short position in HYPE with a leverage of 5 times. This large-scale operation has sparked discussions in the market about the price trend of HYPE.
Renowned cryptocurrency investor Anthony Pompliano has filed for a $200 million initial public offering (IPO) in the form of a special purpose Acquisition Company (SPAC), and his company, ProCap Acquisition Corp, will focus on high-growth companies in the fields of fintech and digital assets. Pompliano has a rich industry resume. He has served as the product director of Facebook and the former co-founder of Morgan Creek Digital. The management team of ProCap brings together professionals in fields such as mergers and acquisitions, venture capital, and digital asset compliance.
Japanese listed company Metaplanet has established a US subsidiary in Florida, investing 250 million US dollars, focusing on Bitcoin fund operation business and further expanding its layout in the cryptocurrency field.
Cryptocurrency trading platform Coinbase announced that it will add support for MANTLE on the Ethereum network (ERC-20 token). If liquidity conditions are met, trading will commence at 9:00 a.m. Pacific Time on or after May 1, 2025, and the Mantle-USD trading pair will also be launched in phases. However, in some supported jurisdictions, support for MANTLE may be limited. In addition, Coinbase has also added Worldcoin (WLD) to its listing roadmap.
European digital bank Bunq announced the launch of Bunq Crypto on April 29th, enabling users to invest in over 300 cryptocurrencies, including Bitcoin, Ether and Solana. This service will first be launched in the Netherlands, France, Spain, Ireland, Italy and Belgium, with technical support provided by Kraken. Bunq said, “Our global users have long been looking forward to a simple, secure and direct way to invest in digital assets.” Bunq’s research indicates that “approximately 65% of European consumers hope to manage their banks, savings, and cryptocurrency investments through a unified platform”, and over 50% of respondents wish to get in touch with cryptocurrencies but believe that existing platforms struggle to meet their demands in terms of simplicity and security.
Fidelity Digital Assets reported that multiple on-chain indicators on the Ethereum chain indicated that ETH was “undervalued in trading”. The report pointed out that the MVRV Z-Score dropped to -0.18 on March 9th, entering the “undervalued” zone, indicating that Ethereum “looks cheap”. The NUPL also dropped to 0, indicating that the market is in a “capitulation” state. Furthermore, the implemented price of ETH is $2,020, which is 10% higher than the current price. The market capitalization ratio of ETH to BTC has dropped to the level of mid-2020. Meanwhile, the number of active addresses of Ethereum Layer-2 reached 13.6 million, hitting a record high, indicating that its scalability and adoption rate continue to rise.
According to WhaleAlert’s monitoring, two minutes ago, Tether minted another 1 billion USDT on the Ethereum chain. As of today, it has cumulatively minted 2 billion USDT. Paolo Ardoino, the CEO of Tether, said that the additional issuance of USDT this time is for inventory replenishment. This is an authorized but unissued transaction, meaning that the amount will be used as inventory for the next issuance request and chain exchange.
New Advances in Blockchain applications
Base has reached the first stage of decentralization in Ethereum Rollup, launching a proof of failure mechanism and establishing a security committee. The Base developers said that the network has reached the first stage of Vitalik Buterin’s Rollup decentralized framework and has made progress in reducing the reliance on centralized participants. The Base team stated: “Base has achieved the first phase of decentralization, which is a key milestone in the process of building an open global on-chain economy.” This goal was achieved by introducing permissionless proof of failure and enhancing the decentralization of the contract upgrade process through the security committee. Base was launched in August 2023 and developed using the OP Stack package of Optimism. It has now developed into the Layer2 rollup with the largest TVL on Ethereum. Previously, Base was classified as a Phase 0 Rollup mainly because it still relied on a centralized sorter controlled by Coinbase and its mainnet lacked a fully operational permissionless proof of failure.
Important economic dynamics
Eight digital banks (formerly virtual banks) in Hong Kong have released their full-year 2024 results. The data shows that none of the eight banks achieved profitability, with a combined loss of over 2.6 billion Hong Kong dollars for the year, narrowing by approximately 12% compared to the same period last year. Among them, Mox Bank topped the loss list with a loss of 710 million yuan, but narrowed by 4% year-on-year. ZA Bank’s losses narrowed by 42% to 230 million yuan. As of the end of 2024, its customer deposits reached 19.4 billion yuan, increasing by 66% year-on-year, and it remained the bank with the largest number of customer deposits. After achieving a monthly break-even point in December last year, WeLab Bank is expected to make a profit in the first quarter of this year.
In the international precious metals market, the spot price of gold dropped below $3,250 per ounce, falling by more than $40 from the day’s high, which has drawn market attention to the trend of gold.
According to an official announcement from the White House of the United States, on May 1st, President Trump called on Congress to pass the largest tax cut bill in the history of the United States. It is expected that after the bill is passed, the real GDP will grow by 3.3% to 3.8% in the short term and 2.6% to 3.2% in the long term. It will also increase the real wage by 3,300 US dollars annually. The income of middle-class families increases by $5,000 each year and 4.1 million new jobs are created.
In the field of international trade, sources disclosed that recently, the US has proactively engaged with China through various channels, expressing its willingness to negotiate on tariff issues. US President Trump and his economic and trade team have also repeatedly sent out signals that they are conducting economic and trade negotiations with China. International economic and trade negotiation experts have analyzed and pointed out that the frequent release of information by the US side highlights its eagerness to promote negotiations. Judging from the negotiation situation, the US side is more urgent at present. The Trump administration is currently facing multiple pressures such as economic and public opinion. Some people hold the view that before the United States takes substantive actions, China does not need to rush into negotiations. However, observing the true intentions of the US side and taking the initiative in the negotiations also have certain positive significance for China.
In a letter to shareholders, Trump Media & Technology Group stated: “As part of a reward program, we are exploring the introduction of a utility token in the Truth digital wallet. This token will initially be used to pay for Truth + subscription fees and may also be applicable to other products and services in the Truth ecosystem in the future.” In January this year, the company launched the fintech brand True.Fi. Previously, it also submitted a trademark application covering the service of “downloadable computer software used as a digital wallet”.
A Reuters/Ipsos poll shows that Trump’s overall approval rating has remained stable at 42%. The approval rating for Trump’s handling of US economic issues has dropped to 36%. The dissatisfaction rate of the public with the economy has risen to 56%.
“Fed Messenger” Nick Timiraos pointed out that the prediction of the possibility of an economic recession in 2025 on the prediction market platform PolyMarket has risen and is on par with the highs set on April 6 and April 9. At that time, Trump had not yet withdrawn the “reciprocal” tariff policy announced on April 2nd.
According to Bloomberg ETF analyst Henry Jim, BlackRock has filed for the digital share class DLT Shares for its $150 billion money market fund. The DLT shares will be sold only through BNY Mellon. The bank intends to use blockchain technology to mirror ownership, which may be a preparatory or paving step for the future use of digital currency/cash.
US President Trump said that the performance of Federal Reserve officials was poor and that he was more knowledgeable than the chairperson of the Federal Reserve. At the same time, he emphasized that although he expressed this view, he had no intention of criticizing the chairperson of the Federal Reserve and still wanted to maintain a polite attitude towards him.
Goldman Sachs ‘latest research report indicates that the expansion of the US trade deficit in goods in March exceeded expectations.
Both imports and exports of goods increased in March. The main reason for the expansion of the trade deficit was the increase in imports of consumer goods, which might reflect the “prerace” of imports before the tariff increase. Details of the leading economic indicator report show that compared with the previous GDP tracking assumptions, import growth was significantly strong, but export growth was moderately strengthened and the pace of inventory accumulation accelerated. Overall, Goldman Sachs has lowered its tracking forecast for the U.S. GDP in the first quarter by 0.6 percentage points to -0.8% (quarter-on-quarter annualized). The GDP data of the United States will be released on the evening of the 30th.
According to CME’s “FedWatch” data, the probability that the Federal Reserve will keep interest rates unchanged in May is 92.3%, and the probability of cutting interest rates by 25 basis points is 7.7%. The probability of keeping interest rates unchanged by June is 37.5%, the probability of a cumulative 25 basis point rate cut is 60.2%, and the probability of a cumulative 50 basis point rate cut is 4.8%.
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