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Solana's fifth anniversary highlights the platform's booming interest, with extreme USDT volatility driven by meme coin activity and surging trade volumes.
Quick Take The venture capital fund’s former policy lead, Brian Quintenz, will be leaving as he faces Senate confirmation to become the next U.S. Commodity Futures Trading Commission chair. Miles Jennings has been general counsel at the fund for over three years and was previously a partner at law firm Latham & Watkins
Quick Take AIXBT, an AI agent that provides market commentary, lost approximately $100,000 worth of ETH in an exploit on Tuesday. The maintainer of the account said the attack gained access to the bot’s “simulation wallet” through malicious prompting.
Quick Take Ethereum continues to be the blockchain of choice for stablecoin activity, hosting $35 billion in USDC and $67 billion in USDT. The following is an excerpt from The Block’s Data and Insights newsletter.
Quick Take Raydium reportedly plans to spin out a rival memecoin launch-pad to compete with Pump.fun. The move comes about a month after Pump.fun was found to be testing a custom-built automated market maker, possibly to replace Raydium.
Quick Take EOS, the public blockchain launched in 2018 to take on Ethereum, is to be rebranded to Vaulta as it pivots to “web3 banking.” The EOS token, up 2% to around $0.52, will be swapped 1:1 for the new vaulta token beginning in May. Launched in 2018, EOS development company Block.one has had a storied legacy, including an SEC penalty related to its $4.1 billion ICO and the launch of a crypto exchange.
- 06:45Market Report: BTC Strongly Surpasses $93,000, Altcoins Broadly RiseMarket report as of April 24th: The total market capitalization of the cryptocurrency market reached $2.92 trillion, up 0.85% from the previous day. BTC surged above $94,500 before a brief pullback, still at its highest price level in nearly two months; yesterday, BTC ETF saw an inflow of $917 million in a single day, with a cumulative net inflow of over $2 billion this week; ETH is currently consolidating around $1,800, with the ETH/BTC exchange rate rising by 10% in the short term, ETHD rebounding to 7.4%; the overall long-short ratio is 0.98, with the bearish forces at their lowest in 24 hours; after a general rise, altcoins have adjusted, and the AI agent and meme sectors still perform significantly better than other sectors; NEIROETH, TURBO, BRETT, and MUBARAK rose in the Meme sector, while the official Trump meme coin TRUMP surged, leading to a similar surge for Melania's meme coin MELANIA.
- 06:44Analyst: The Number of Addresses Depositing Bitcoin to Exchanges Has Been Steadily Declining Since 2022CryptoQuant analyst @AxelAdlerJr posted data on social media indicating that since 2022, the number of addresses depositing Bitcoin to exchanges has been steadily declining: the 30-day moving average has currently dropped to 52,000 addresses, while the 365-day average level is 71,000 addresses. Meanwhile, over the past decade, the most common distribution was around 92,000 addresses, with the current number of addresses equivalent to the level in December 2016. This trend is inherently bullish because investors have reduced Bitcoin sales by fourfold over the past three years. Essentially, this represents a growing HODL sentiment, which significantly decreases selling pressure and lays the foundation for further growth.
- 06:44Reservoir to Cease NFT and API Services on October 15, Focus on Relay Protocol in the FutureAccording to the official news from Reservoir, its NFT trading infrastructure and API services will officially terminate on October 15, 2025. New account registrations have already been stopped, but existing users can continue to use the services until the shutdown date. To assist with the transition, Reservoir has collaborated with 0xSequence and Alchemy to provide alternative solutions and has opened all its code for developers to reference. In the future, the team will focus on Relay Protocol, enhancing cross-chain token and NFT trading experiences.