Ethereum wiped out nearly half its value in 2025, price dropped over 46% year- to-date as ETFs failed to attract capital inflows and the largest altcoin lost revenue. After months of debate on the future of the Ethereum foundation and Vitalik Buterin’s new proposal for higher scalability, Ethereum eyes a comeback, likely the biggest one of the year.

Ethereum plans biggest comeback of 2025: Five burning questions and ETH price prediction

The $300 million ecosystem development fund by MEXC will drive blockchain 
innovation, support early-stage Web3 projects, and expand its role from crypto 
exchange to full-scale ecosystem builder. MEXC Advances Push Into Web3 
Development With $300 Million Fund MEXC, a global crypto exchange, has 
announced a bold leap forward in its evolution by launching a $300 […]

MEXC Marks 7th Anniversary With $300 Million Ecosystem Growth Fund

Bitcoin miner Riot Platforms has reported its highest-ever quarterly revenue, 
but still posted a loss as mining costs have nearly doubled compared to the 
same time last year and it moves to bolster its facilities.
&#8220;We achieved a new record for quarterly revenue this quarter, at $161.4 
million,&#8221; Riot CEO Jason Les said in a May 1 report for its first quarter 2025 
earnings. The company just surpassed Wall Street estimates of $159.79 million 
by 1%.
Riot&#8217;s Q1 revenue was a 50% jump compared to the same quarter a year ago.
## Riot blames &#8220;halving event&#8221; for expenses
The firm reported a net loss of $296,367 over Q1, a 240% decrease from the 
$211,777 net income it posted in the year-ago quarter.
Riot said that the average cost to mine Bitcoin (BTC) over the quarter was 
$43,808, almost 90% more than the $23,034 it cost to mine Bitcoin in the same 
period last year.
&#8220;The increase was primarily driven by the block subsidy &#8216;halving&#8217; event, which 
occurred in April 2024, and a 41% increase in the average global network 
hashrate as compared to the same period in 2024,&#8221; Riot said.
Shares in Riot Platforms (RIOT) closed May 1 trading up 7.32%, trading at 
$7.77, according to Google Finance.
_Riot Platforms is down 13.47% over the past six months. Source:__Google 
Finance_
Meanwhile, Riot produced 166 more Bitcoin during the quarter than it did over 
the same period in 2024. At the time of publication, with Bitcoin trading at 
$97,072, that equates to approximately $16.13 million.
_**Related:**__**Bitcoin miner Phoenix Group adds 52 MW of mining capacity in 
Ethiopia**_
Riot currently holds 19,223 unencumbered Bitcoin, worth approximately $1.86 
billion at the time of publication.
On April 23, Riot announced that it had used its massive Bitcoin stockpile as 
collateral to secure a $100 million credit facility from Coinbase as the 
cryptocurrency miner eyes continued expansion.
Les said the $100 million loan from Coinbase&#8217;s credit arm marked Riot&#8217;s &#8220;first 
Bitcoin-backed facility.&#8221;
_**Magazine:**__**Japanese porn star &#8216;s coin red flags, Alibaba-linked L2 runs 
at 100K TPS: Asia Express**_
This article does not contain investment advice or recommendations. Every 
investment and trading move involves risk, and readers should conduct their 
own research when making a decision.

Riot Platforms posts Q1 loss, beats revenue estimates

Solana started a fresh increase from the $140 support zone. SOL price is now 
consolidating and might climb further above the $154 resistance zone. SOL 
price started a fresh increase above the $142 and $145 levels against the US 
Dollar. The price is now trading above $150 and the 100-hourly simple moving 
average. There was a break above a key bearish trend line with resistance at 
$149 on the hourly chart of the SOL/USD pair (data source from Kraken). The 
pair could start a fresh increase if it clears the $154 resistance zone. 
Solana Price Consolidates Gains Solana price formed a base above the $140 
support and started a fresh increase, like Bitcoin and Ethereum. SOL gained 
pace for a move above the $142 and $145 resistance levels. There was a break 
above a key bearish trend line with resistance at $149 on the hourly chart of 
the SOL/USD pair. The pair even spiked above the $150 resistance zone. A high 
was formed at $153.90 and the price is now consolidating gains. The price 
dipped below $152 and tested the 23.6% Fib retracement level of the upward 
move from the $140 swing low to the $154 high. Solana is now trading above 
$150 and the 100-hourly simple moving average. On the upside, the price is 
facing resistance near the $152 level. The next major resistance is near the 
$154 level. The main resistance could be $158. A successful close above the 
$158 resistance zone could set the pace for another steady increase. The next 
key resistance is $165. Any more gains might send the price toward the $180 
level. Downside Correction in SOL? If SOL fails to rise above the $154 
resistance, it could start another decline. Initial support on the downside is 
near the $150 zone. The first major support is near the $147 level. A break 
below the $147 level might send the price toward the $145 zone and the 50% Fib 
retracement level of the upward move from the $140 swing low to the $154 high. 
If there is a close below the $145 support, the price could decline toward the 
$140 support in the near term. Technical Indicators Hourly MACD – The MACD for 
SOL/USD is gaining pace in the bullish zone. Hourly Hours RSI (Relative 
Strength Index) – The RSI for SOL/USD is above the 50 level. Major Support 
Levels – $147 and $145. Major Resistance Levels – $154 and $158.

Solana (SOL) Over $150 — More Upside on The Horizon?

The US Treasury Department wants to block the Cambodia-based Huione Group from 
accessing the US banking system, accusing it of helping North Korea&#8217;s state- 
backed Lazarus Group to launder its crypto.
The Treasury&#8217;s Financial Crimes Enforcement Network (FinCEN) proposed on May 1 
to prohibit US financial institutions from opening or maintaining 
correspondent or payable-through accounts for or on behalf of the Huione 
Group.
Huione Group has established itself as the &#8220;marketplace of choice for 
malicious cyber actors&#8221; like the Lazarus Group, who have &#8220;stolen billions of 
dollars from everyday Americans,&#8221; US Treasury Secretary Scott Bessent said in 
a May 1 statement.
&gt; &#8220;Today&#8217;s proposed action will sever Huione Group&#8217;s access to correspondent 
&gt; banking, degrading these groups&#8217; ability to launder their ill-gotten gains.&#8221;
Huione Group has set up a network of businesses, which includes payment 
service platform Huione Pay PLC, the crypto exchange Huione Crypto, and 
Haowang Guarantee, an online marketplace offering illicit goods and services.
Although the conglomerate doesn&#8217;t have correspondent accounts with US 
financial institutions, it has accounts with foreign firms with US 
correspondent accounts, the Treasury&#8217;s FinCEN noted in its rulemaking 
submission.
The proposed rule is subject to a 30-day public comment period before it can 
take effect. 
_Source:__Chainalysis_ 
## Huione expanded into sophisticated cybercrime network
FinCEN claimed that Huione Group has laundered at least $4 billion worth of 
illicit proceeds between August 2021 and January 2025, including more than $36 
million from crypto pig butchering scams.
At least $37 million worth of the crypto laundered has been linked to North 
Korea&#8217;s &#8220;cyber heists,&#8221; the Treasury said.
Haowang Guarantee has made Huione Group a &#8220;one stop shop&#8221; for criminals to 
launder crypto obtained through illicit activities, and ultimately convert it 
to fiat currency, the Treasury said.
_**Related:**__**North Korean crypto attacks rising in sophistication, actors 
&#8212; Paradigm**_
The conglomerate has also created a US dollar-pegged stablecoin, the US Dollar 
Huione (USDH), which FinCEN said cannot be frozen and helps to carry out money 
laundering activities.
The National Bank of Cambodia has stated that payment firms aren&#8217;t allowed to 
deal or trade digital assets in the country and had revoked the company&#8217;s 
local banking license in March.
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stablecoin fight**_

US Treasury wants to cut off Huione over ties to crypto crime

According to a recent CryptoQuant Quicktake post, Bitcoin (BTC) could be 
preparing for its next major move. Contributor Crypto Dan highlighted that BTC 
is currently forming an accumulation pattern similar to those observed in 2024 
&#8211; patterns that were followed by significant rallies. Bitcoin Showing Signs Of 
Big Rally Bitcoin has surged over 13% in the past week, signaling renewed 
optimism in the digital assets market. This momentum comes amid easing global 
tariff-related tensions, which had previously created headwinds for risk-on 
assets. Alongside Bitcoin’s rise, the total cryptocurrency market 
capitalization has increased substantially &#8211; from approximately $2.5 trillion 
on April 8 to over $3.1 trillion at the time of writing. Related Reading: 
Bitcoin Surpasses Realized Price Of Recent Buyers — Rally Incoming Or Double 
Top? Adding to the positive sentiment is BTC’s evolving technical structure. 
In a recent analysis, CryptoQuant contributor outlined how BTC is forming an 
accumulation pattern that preceded major price rallies in 2024. The 
contributor shared the following chart, stating that BTC’s current movement 
appears to be mirroring that from January and October 2024. On both the 
instances, BTC entered a significant uptrend that was powered by a sharp 
increase in the activity of short-term holders. By &#8220;short-term holders,&#8221; the 
analyst refers to investors who typically hold BTC for one day to one week. In 
previous cycles, a sudden increase in activity from this group was followed by 
strong rallies &#8211; not only in BTC, but also across major altcoins. The analyst 
explained: Notably, this indicator has historically moved ahead of major price 
surges, making it a reliable signal of accumulation. If this trend continues 
in the short term, Bitcoin may be on track to break above $100K and enter a 
strong upward phase. Meanwhile, prominent crypto analyst Ali Martinez 
identified $97,530 as the next major resistance level. Martinez emphasized 
that surpassing this price point could clear the path for Bitcoin to reach new 
all-time highs (ATH). Despite The Momentum, Concerns Persist Despite growing 
optimism, not all indicators support an immediate breakout. Some analysts 
caution that Bitcoin still faces obstacles. Notably, the 30-day Demand 
Momentum remains in negative territory &#8211; suggesting that recent bullish 
sentiment may not be fully sustainable yet. Related Reading: Bitcoin Battles 
Key Resistance Level – Is A Breakdown Imminent? Additionally, on-chain metrics 
reveal that a truly parabolic move could take more time. CryptoQuant 
contributor Carmelo Aleman observed that while BTC reserves on exchanges 
continue to decline, indicating long-term holder confidence, there may not yet 
be enough pressure to trigger a full-blown supply shock. That said, one 
positive signal is a recent sharp rebound in Bitcoin’s Apparent Demand, which 
could indicate the early stages of a trend reversal. As of press time, Bitcoin 
is trading at $96,370, up 1.9% over the last 24 hours. Featured image from 
Unsplash, charts from CryptoQuant, X, and Tradingview.com