The cryptocurrency market continued its restoration prior to now week as the full crypto market capitalization breached the $3 trillion mark for the primary time because the starting of March.
Bitcoin (BTC) rose to an over two-month excessive of $97,300 final seen on the finish of February, earlier than the “Liberation Day” tariffs announcement within the US, bolstering analyst predictions for a rally pushed by “structural” institutional and exchange-traded fund (ETF) inflows into the world’s first cryptocurrency.
Danger urge for food continued rising amongst crypto buyers, as Chinese language state-linked information retailers indicated that the Trump administration has quietly contacted Beijing to focus on tariff reductions.
Within the wider crypto area, Ethereum builders proposed a brand new token commonplace to enhance the interoperability of the world’s second-largest blockchain community.
Bitcoin to $1 million by 2029 fueled by ETF and gov’t demand — Bitwise exec
Bitcoin’s increasing institutional adoption might present the “structural” inflows essential to surpass gold’s market capitalization and push its worth past $1 million by 2029, in accordance to Bitwise’s head of European analysis, André Dragosch.
“Our in-house prediction is $1 million by 2029. In order that Bitcoin will match gold’s market cap and complete addressable market by 2029,” he advised Cointelegraph through the Chain Response day by day X areas show on April 30.
Gold is at the moment the world’s largest asset, valued at over $21.7 trillion. Compared, Bitcoin’s market capitalization sits at $1.9 trillion, making it the seventh-largest asset globally, according to CompaniesMarketCap information.
For the 2025 market cycle, Bitcoin might surpass $200,000 within the “base case” and $500,000 with extra governmental adoption, Dragosch stated.
Eric Trump: USD1 shall be used for $2 billion MGX funding in Binance
Abu Dhabi-based funding agency MGX will use a stablecoin linked to US President Donald Trump’s household to settle a $2 billion funding in Binance, the world’s largest cryptocurrency alternate.
The World Liberty Financial USD (USD1) US dollar-pegged stablecoin was launched by the Trump-associated crypto platform World Liberty Monetary (WLFI) in March 2025.
MGX will use the USD1 stablecoin for its $2 billion funding within the Binance alternate, in accordance to an announcement by Eric Trump throughout a panel dialogue at Token2049 in Dubai. Trump, the son of the president, serves as govt vp of the Trump Group.
MGX announced its funding in Binance on March 12, marking the primary institutional funding within the alternate and one of many largest funding offers in your complete Web3 trade.
On the time, Binance declined Cointelegraph’s request to disclose what stablecoin was used within the transaction.
This marks the Abu Dhabi-based funding agency’s first enterprise into the cryptocurrency area.
Ethereum to simplify crosschain transactions with new token requirements
Ethereum builders are working to enhance blockchain interoperability with two new token requirements: ERC-7930 and ERC-7828.
“There’s no commonplace means for wallets, apps, or protocols to interpret or show this info,” decentralized finance (DeFi) ecosystem improvement group Wonderland wrote in a Could 1 X post. Wallets, decentralized applications (DApps), block explorers and sensible contracts comply with totally different guidelines.
“The end result? A messy, inconsistent expertise that breaks crosschain UX,“ Wonderland acknowledged.
Wonderland is a bunch of builders, researchers and information scientists targeted on enhancing the Ethereum DeFi ecosystem. The group partnered with a number of DeFi protocols, together with Optimism, Aztec, Connext and Yearn.
Within the publish, the group shared what was discussed at a latest Ethereum Basis interoperability working group name. Teddy from Wonderland defined that the present objective is to finalize each token requirements throughout the subsequent two weeks. He added:
“We badly want suggestions on the ETH-Magicians discussion board.”
Crypto hackers hit DeFi for $92 million in April as assaults double from March
Cryptocurrency hackers stole greater than $90 million in April, dealing one other blow to the trade’s mainstream fame regardless of ongoing efforts to enhance cybersecurity.
Hackers made off with $92 million of digital property throughout 15 incidents in April, in accordance to an April 30 analysis report by blockchain cybersecurity agency Immunefi.
The overall marks a 124% month-over-month enhance from March, when hackers stole $41 million.
The month’s largest hack on open-source platform UPCX accounted for many of the harm in April, with over $70 million in losses, whereas KiloEx lost $7.5 million as April’s second-largest hack.
The KiloEx exploiter returned the stolen funds simply days after the assault occurred.
All of April’s reported assaults focused decentralized finance (DeFi) platforms. Centralized exchanges reported no incidents through the month, the report famous.
Immunefi, which says it helps defend $190 billion in consumer funds, has paid greater than $116 million in bounties to white hat hackers.
Crypto group asks Trump to finish prosecution of crypto devs, Roman Storm
The crypto foyer group, the DeFi Schooling Fund, has petitioned the Trump administration to finish what it claimed was the “lawless prosecution” of open-source software program builders, together with Roman Storm, a creator of the crypto mixing service Twister Money.
In an April 28 letter to White Home crypto czar David Sacks, the group urged President Donald Trump “to take speedy motion to discontinue the Biden-era Division of Justice’s lawless marketing campaign to criminalize open-source software program improvement.”
The letter particularly talked about the prosecution of Storm, who was charged in August 2023 with serving to launder over $1 billion in crypto by Twister Money. His trial is still set for July, and his fellow charged co-founder, Roman Semenov, is at giant and believed to be in Russia.
The DeFi Schooling Fund stated that in Storm’s case, the Division of Justice is trying to maintain software developers criminally liable for a way others use their code, which is “not solely absurd in precept, nevertheless it units a precedent that doubtlessly chills all crypto improvement in america.”
The group additionally known as for the popularity that the prosecution contradicts the Treasury Division’s Monetary Crimes Enforcement Community (FinCEN) steerage from Trump’s first time period, which established that builders of self-custodial, peer-to-peer protocols will not be cash transmitters.
“This type of authorized setting doesn’t simply chill innovation — it freezes it,” they argued. The letter added that it additionally “empowers politically-motivated enforcement and places each open-source developer in danger, no matter trade.”
In January, a federal court docket in Texas dominated that the Treasury overstepped its authority by sanctioning Twister Money.
DeFi market overview
In accordance to information from Cointelegraph Markets Pro and TradingView, many of the 100 largest cryptocurrencies by market capitalization ended the week within the inexperienced.
The Virtuals Protocol (VIRTUAL) token rose over 103% because the week’s largest gainer, adopted by the Solayer (LAYER) token, up over 29% through the previous week.
Thanks for studying our abstract of this week’s most impactful DeFi developments. Be a part of us subsequent Friday for extra tales, insights and schooling concerning this dynamically advancing area.
