The cryptocurrency market continued its restoration previously 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 debate tariff reductions.
Within the wider crypto house, Ethereum builders proposed a brand new token normal 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 value past $1 million by 2029, in line with 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 whole addressable market by 2029,” he instructed Cointelegraph throughout the Chain Response every day X areas present on April 30.
Gold is at present 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, in line with 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.
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Eric Trump: USD1 will probably 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 change.
The World Liberty Monetary 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 change, in line with an announcement by Eric Trump throughout a panel dialogue at Token2049 in Dubai. Trump, the son of the president, serves as govt vice chairman of the Trump Group.
MGX introduced its funding in Binance on March 12, marking the primary institutional funding within the change and one of many greatest funding offers in your entire Web3 business.
On the time, Binance declined Cointelegraph’s request to reveal what stablecoin was used within the transaction.
This marks the Abu Dhabi-based funding agency’s first enterprise into the cryptocurrency house.
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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 normal approach for wallets, apps, or protocols to interpret or show this info,” decentralized finance (DeFi) ecosystem growth group Wonderland wrote in a Might 1 X publish. Wallets, decentralized functions (DApps), block explorers and good contracts observe 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 centered on bettering 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 mentioned at a latest Ethereum Basis interoperability working group name. Teddy from Wonderland defined that the present aim is to finalize each token requirements inside the subsequent two weeks. He added:
“We badly want suggestions on the ETH-Magicians discussion board.”
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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 business’s mainstream status regardless of ongoing efforts to enhance cybersecurity.
Hackers made off with $92 million of digital belongings throughout 15 incidents in April, in line with an April 30 analysis report by blockchain cybersecurity agency Immunefi.
The entire marks a 124% month-over-month improve 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 misplaced $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 throughout the month, the report famous.
Immunefi, which says it helps shield $190 billion in consumer funds, has paid greater than $116 million in bounties to white hat hackers.
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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 rapid motion to discontinue the Biden-era Division of Justice’s lawless marketing campaign to criminalize open-source software program growth.”
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 way of Twister Money. His trial continues to be 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 making an attempt to carry software program builders criminally liable for a way others use their code, which is “not solely absurd in precept, but it surely units a precedent that probably chills all crypto growth in the USA.”
The group additionally referred to 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 are usually not 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 business.”
In January, a federal courtroom in Texas dominated that the Treasury overstepped its authority by sanctioning Twister Money.
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DeFi market overview
In accordance with information from Cointelegraph Markets Professional 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 greatest gainer, adopted by the Solayer (LAYER) token, up over 29% throughout 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 training concerning this dynamically advancing house.
