Binance says the United States Treasury supply will hit a record $31 trillion in 2025, a scenario that could have an impact on the macro environment and cryptocurrencies. According to a Binance Research report on April 18, U.S. Treasury issuance…

Binance Research: U.S. Treasury issuance is a key macro area to watch

The growing adoption of cryptocurrencies may pose risks to the traditional 
financial system and exacerbate wealth inequality, according to the Bank for 
International Settlements (BIS).
In an April 15 report, the BIS warned that the number of investors and amount 
of capital in crypto and decentralized finance (DeFi) have &#8220;reached a critical 
mass,&#8221; with investor protection becoming a &#8220;significant concern for 
regulators.&#8221;
The size of the crypto market signals that authorities should be worried about 
the &#8220;stability of crypto over and above the role it may have for TradFi and 
the real economy,&#8221; the report states, highlighting the role of stablecoins, 
which the BIS said have &#8220;become the means through which participants transfer 
value within crypto.&#8221;
_BIS report on crypto and DeFi &#8216;s functions and financial stability 
implications. Source: __BIS_
The report calls for targeted stablecoin regulation on stability and reserve 
asset requirements that will guarantee the redemption of stablecoins for US 
dollars during &#8220;stressed market conditions.&#8221;
_**Related:**__**Spar supermarket in Switzerland starts accepting Bitcoin 
payments**_
The report comes two weeks after the US House Financial Services Committee 
passed the Stablecoin Transparency and Accountability for a Better Ledger 
Economy, or STABLE Act, with a 32-17 vote on April 2.
_Source:__Financial Services GOP_
The STABLE Act aims to create a clear regulatory framework for dollar- 
denominated payment stablecoins, emphasizing transparency and consumer 
protection.
On March 13, the GENIUS Act, short for Guiding and Establishing National 
Innovation for US Stablecoins, passed the Senate Banking Committee by a vote 
of 18-6\. The act aims to establish collateralization guidelines and require 
full compliance with Anti-Money Laundering laws from stablecoin issuers.
_**Related:**__**$400M Web3 investment fund ABCDE halts new investments, 
fundraising**_
## Crypto may exacerbate wealth gap
The BIS also raised concerns about how crypto markets may worsen income 
inequality by enabling larger investors to capitalize on the emotions of less 
sophisticated retail participants, as seen during the FTX collapse in 2022.
_Whale vs retail activity after FTX collapse. Source: BIS_ 
&#8220;As prices tumbled in 2022, users actually traded more,&#8221; the BIS report noted. 
&#8220;Most disturbingly, large bitcoin holders (&#8220;whales&#8221;) were selling as ordinary 
retail investors (&#8220;krill&#8221;) were buying.&#8221; It added:
&gt; &#8220;This implies that the crypto market, which is often presented as an 
&gt; opportunity for inclusive growth and financial stability, can be a means for 
&gt; redistributing wealth from the poorer to the wealthier.&#8221;
The report concludes that DeFi and TradFi have similar underlying economic 
drivers, but DeFi&#8217;s &#8220;distinctive features,&#8221; like &#8220;smart contract and 
composability,&#8221; present new challenges that need proactive regulatory 
interventions to &#8220;safeguard financial stability, while fostering innovation.&#8221;
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Crypto, DeFi may widen wealth gap, destabilize finance: BIS report

Ethereum is trading below critical resistance levels after enduring weeks of 
heavy selling pressure and lackluster performance. Since breaking below the 
psychological $2,000 mark, the price has dropped more than 21%, signaling 
growing uncertainty among short-term investors. This decline has raised 
questions among market participants, especially as Ethereum’s on-chain 
fundamentals remain robust. Related Reading: Solana Turns Bullish On 8H Chart 
– Break Above $147 Could Confirm New Trend Top analyst Ted Pillows shared 
insights suggesting that ETH is now trading near bear market lows—yet the 
network has never looked stronger. Over 95% of all stablecoin transactions are 
processed on Ethereum, and it still leads in Total Value Locked (TVL) across 
DeFi and Real World Asset (RWA) protocols. It is also the only altcoin with an 
approved spot ETF in the US, and numerous upgrades are lined up to improve its 
speed and reduce transaction costs. Despite these strengths, Ethereum&#8217;s price 
remains suppressed, leading to growing speculation: is this just market 
sentiment at play, or could it reflect coordinated manipulation to shake out 
weak hands before a reversal? As Ethereum continues to dominate the utility 
narrative in crypto, many long-term holders see this downturn as a strategic 
accumulation zone, while others brace for more downside. Ethereum Fundamentals 
Shine Despite Bearish Market Conditions Ethereum is facing a critical test as 
it trades near major demand levels while macroeconomic uncertainty deepens. 
Global tensions persist as US President Donald Trump escalates his trade war 
with China. The recent 90-day tariff pause for all countries except China has 
done little to ease market fears. As economic pressure builds between the 
world’s two largest economies, investors are increasingly turning away from 
high-risk assets like crypto, driving volatility across digital markets. 
Ethereum, like the broader crypto market, has suffered under this weight. The 
asset is now hovering just above bear market lows after a prolonged decline, 
prompting concerns over its short-term price action. Yet, despite the 
technical weakness, Pillows points to Ethereum’s strong fundamentals as a 
reason to remain optimistic. According to Pillows, Ethereum remains the 
backbone of the decentralized finance (DeFi) ecosystem. It processes over 95% 
of all stablecoin transactions, commands the highest Total Value Locked (TVL), 
and leads the charge in Real World Asset (RWA) tokenization. It&#8217;s also the 
only altcoin the US has approved for a spot ETF, adding institutional 
legitimacy. With several protocol upgrades ahead aimed at improving 
scalability and reducing costs, Pillows believes Ethereum’s current valuation 
could represent a long-term buying opportunity. As he puts it: if you believe 
in fundamentals, ETH remains the top bet among altcoins. Related Reading: 
Ethereum Price Stalls In Tight Range – Big Price Move Incoming? ETH Price 
Stuck In Range: Bulls Eye $1,800 Breakout Ethereum is trading at $1,590 after 
several days of choppy price action between $1,500 and $1,700. The market 
remains stuck in this narrow range as bulls struggle to regain momentum amid 
broader macroeconomic uncertainty. The inability to reclaim key resistance 
zones has kept ETH under pressure, and a decisive breakout is needed to shift 
sentiment. Bulls are currently eyeing the 4-hour 200-day Moving Average (MA) 
and Exponential Moving Average (EMA), both sitting near the $1,800 level. 
Reclaiming this zone would mark a major short-term victory for buyers and 
could signal the beginning of a recovery phase. A clean break above $1,800 
would also invalidate the current lower-high structure and potentially drive 
ETH toward higher supply areas near $2,000. Related Reading: Ethereum Whales 
Offload 143,000 ETH In One Week – More Selling Ahead? However, the downside 
risks remain. If Ethereum fails to hold above current support levels and dips 
below $1,550, the next leg could send the asset beneath the $1,500 mark. For 
now, the $1,500–$1,800 corridor defines Ethereum’s battleground, and traders 
are closely watching for a breakout that sets the next major direction. 
Featured image from Dall-E, chart from TradingView

Ethereum Trades At Bear Market Lows: Fundamentals Signal Major Undervaluation

Vietnam is charging into the global crypto race with a bold plan to pilot a 
national exchange, signaling massive momentum for digital asset regulation and 
innovation. Vietnam Unveils Plan to Pilot National Crypto Exchange Vietnam’s 
Ministry of Finance announced on April 17 that it is preparing a proposal to 
pilot a domestic crypto exchange, as […]

Vietnam Unveils Pilot Crypto Exchange Plan to Shape National Regulation

Web3 and blockchain-focused investment fund ABCDE is halting new investments, 
but the $400 million fund remains committed to supporting its existing 
projects.
In an April 19 X post, ABCDE co-founder and Huobi exchange founder Du Jun said 
the $400 million fund will no longer invest in new projects or raise capital 
for the second phase of the fund.
However, Jun said the fund will continue to &#8220;post-investment support and exit 
arrangements of existing projects&#8221; to ensure the firm&#8217;s commitment to 
entrepreneurs and liquidity providers (LPs).
&#8220;My personal work focus will also gradually shift from financial investment in 
the primary market to strategic investment-led and deep incubation-based, 
focusing more on industrial synergy and long-term value creation,&#8221; Jun added. 
_Source:__Du Jun_
The announcement comes nearly three months after ABCDE&#8217;s last investment into 
an Ethereum layer-2 (L2) solution, Soon (Solana Optimistic Network), which 
raised $22 million through a non-fungible token sale to mark the launch of its 
mainnet, Cointelegraph reported on Jan. 22.
_SOON block times, compared to other blockchains. Source: SOON_
The Soon mainnet claims to outperform Solana in speed and efficiency, 
delivering average block times of 50 milliseconds compared to Solana&#8217;s 400 
milliseconds.
ABCDE is a $400 million fund, with 28% of its investments in Bitcoin (BTC) 
scaling technology, 16% in Ethereum liquid staking derivatives finance (LSDFi) 
infrastructure, and an additional 12% invested in L2s, restaking and smart 
contract platforms, Cryptorank data shows.
_ABCDE investments focus area, average round size. Source:__Cryptorank_
ABCDE has invested over $40 million worth of capital into over 30 projects 
over the past three years, with an internal rate of return (IRR) &#8220;still at the 
global leading level,&#8221; despite the current market environment, Jun said.
_**Related:**__**Trump family memecoins may trigger increased SEC scrutiny on 
crypto**_
## New incubator brand Vernal announced
ABCDE&#8217;s suspension of fundraising efforts was announced a month after the 
fund&#8217;s co-founder launched a new incubator brand, Vernal.
_Source: Du_ _Jun_
The new incubator is set to announce its shareholders and incubation rules for 
the first batch of projects in May, along with its first investments.
Jun said that the decision to halt ABCDE&#8217;s fundraising efforts was not made 
due to financial constraints or lack of funds but because of a fundamental 
concern for the current development trajectory of the crypto industry.
_**Related:**__**Crypto, stocks enter &#8216;new phase of trade war&#8217; as US-China 
tensions rise**_ _**.**_
&#8220;Frankly speaking, I am increasingly unable to agree with the current 
ecological atmosphere of the primary market,&#8221; Jun said in an April 19 X post, 
adding:
&gt; &#8220;Many projects are extremely short-sighted and only think about how to get 
&gt; listed on the exchange as soon as possible, and what is left behind is often 
&gt; a mess.&#8221;
&#8220;What is more worrying is that some primary funds not only have no reflection 
on this, but also hype up their &#8216;listed projects&#8217; and short-term market value 
performance, but never mention the value creation of the projects themselves,&#8221; 
he added.
Cardano founder Charles Hoskinson has urged fourth-generation cryptocurrency 
projects to embrace more collaborative tokenomics to compete with major 
centralized tech companies entering the crypto industry.
_Charles Hoskinson. Source:__Cointelegraph_
&#8220;The problem right now, with the way we&#8217;ve done things in the cryptocurrency 
space, is the tokenomics and the market structure are intrinsically 
adversarial. It&#8217;s sum 0,&#8221; Hoskinson said at Paris Blockchain Week on April 9. 
&#8220;Instead of picking a fight, what you have to do is you have to find 
tokenomics and market structure that allows you to be in a cooperative 
equilibrium.&#8221;
&#8220;You can&#8217;t build a global ecosystem this way, and you can&#8217;t win this way,&#8221; he 
added. &#8220;Because here&#8217;s the thing. The incumbents are much larger.&#8221;
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$400M Web3 investment fund ABCDE halts new investments, fundraising

Binance Coin (BNB) has continued to show excellent market performance, going 
up between $575 and $591 over the last week. The cryptocurrency trended 
upwards between April 13 and April 19, 2025, with significant price leaps on 
April 17 and 18. As per latest figures, BNB registered a moderate 1.0% gain in 
the previous 24 hours. Related Reading: Bitcoin Dominates Q1: Altcoin Season 
Nowhere In Sight—Report BNB One Of Least Impacted By Market Declines While 
most cryptocurrencies have taken huge losses from their highs, BNB is among 
the only coins that has exhibited remarkable stability. According to on-chain 
statistics provider CryptoQuant, BNB, along with Bitcoin, has witnessed little 
declines compared to other altcoins that dropped as much as 90% from their 
highs. BNB: The Most Resilient Altcoin in the Crypto Market “While most 
altcoins have suffered drops of up to -98.5% from their all-time highs, BNB 
stands out alongside Bitcoin (BTC) as one of the least affected 
cryptocurrencies” – By @joao_wedson Link ⤵️https://t.co/QLQwJOkfF7 
pic.twitter.com/T7Wa6sK6jQ — CryptoQuant.com (@cryptoquant_com) April 17, 2025 
The cryptocurrency managed to hit a new all-time high in the recent market 
cycle, a feat few other digital currencies have achieved. CryptoQuant&#8217;s charts 
reveal BNB appearing in pale red on their charts, which is a much lesser 
decline compared to other cryptocurrencies that appear in darker shades of 
red. Common coins such as Dogecoin (DOGE), Cardano (ADA), and Polygon (MATIC) 
have experienced dramatic highs and lows with long stretches of lowering value 
before a rebound. Lesser-known cryptocurrencies such as COMP, DASH, and CAKE 
were hit the hardest when the market changed. Strong Ecosystem Supports BNB 
Value The good performance of BNB is not all about price action. CryptoQuant 
explains that BNB&#8217;s stability is due to its real-world applications within the 
Binance ecosystem. The coin has various roles on the Binance platform, such as 
being used to pay for transaction fees, trading fees, and running applications 
on the Binance Smart Chain. A lot of traders like to swap their altcoins for 
BNB, which keeps people wanting it. BNB has stayed useful over time, helping 
more people use it and making it one of the best-performing cryptocurrencies 
today. Market analyst Master of Crypto noted how real-life utilities of BNB 
put it several steps ahead of other cryptocurrencies without real-world 
applications. The utility of the coin to sustain the whole ecosystem of 
Binance will continue to reinforce its market value. Related Reading: Is Shiba 
Inu On Track To Dethrone Dogecoin? Here’s What The Experts Say Technical Signs 
Point To Neutral Outlook Despite the overall stability of BNB itself, the 
technical prediction at the moment would indicate a neutral outlook in the 
broader market. The Relative Strength Index (RSI) at 48.57 puts it in the 
middle ground with no strong push in any direction. This RSI reading just 
tells us that the market is in consolidation and that neither buyers nor 
sellers are gaining an edge. If the RSI crosses above 50, it would tell us 
that momentum is steadily building in the direction of the bulls. Conversely, 
if it drops below 45, what it could indicate is a deterioration of price 
strength. Featured image from Pixabay, chart from TradingView