Bitcoin’s estimated leverage ratio (ELR) surged to its highest level since January 2023 on April 25th. This indicates that traders are using larger positions relative to their margin, potentially increasing the risk of liquidations. The ELR is calculated by dividing open interest by the number of coins on derivative exchanges. A rising ELR suggests elevated risk within the Bitcoin market.
1inch, a decentralized exchange aggregator, has launched on the Solana blockchain. This integration, announced at TOKEN2049 Dubai, allows users to perform on-chain swaps through the 1inch dApp and access six APIs. The move marks 1inch’s first major deployment of its Fusion protocol on Solana, paving the way for potential cross-chain swaps between Solana and other networks. The article highlights Solana’s significantly higher transaction processing compared to Ethereum, despite similar trading volumes.
Cryptocurrency exchange BitMEX has announced the introduction of commission-free Bitcoin spot trading. This promotion will remain in effect until the price of Bitcoin hits $100,000. The move aims to attract more users to the platform and increase trading activity within the Bitcoin market.
Spot Bitcoin ETFs experienced a dramatic turnaround, attracting over $3 billion in net inflows between April 21st and 25th. This surge in institutional investment marks a significant shift from previous weeks’ sluggish demand. The increased interest in Bitcoin ETFs is directly correlated with a recent price breakout, signaling growing confidence in the cryptocurrency market and potentially leading to record-breaking investment flows in 2025.
A recent report from the Cambridge Centre for Alternative Finance indicates that over 50% of Bitcoin mining energy consumption comes from sustainable sources. This highlights a growing trend within the industry towards renewable energy. The report also notes increased diversification and innovation in operational metrics, suggesting a push for long-term resilience within the Bitcoin mining sector.
ProShares’ planned XRP futures exchange-traded funds (ETFs) will not launch on April 30th, according to a statement from Bloomberg analyst James Seyffart. While the U.S. Securities and Exchange Commission (SEC) has approved the ETFs, a confirmed launch date is still pending. The article clarifies that despite the approval, the products will not be available for trading as previously anticipated, leaving investors awaiting further announcements.
Arizona’s legislature has passed a bill establishing a strategic Bitcoin reserve, making it the first state to do so. The bill, which saw votes largely split along party lines, allows the state treasury to invest public funds in Bitcoin. The legislation is now awaiting approval from the Governor.
Fidelity Digital Assets’ Q2 outlook highlights contrasting trends for Bitcoin (BTC) and Ethereum (ETH). Despite Bitcoin’s recent decline from its all-time high, Fidelity anticipates a period of stability. Conversely, the report suggests potential growth opportunities for Ethereum. The analysis is based on market performance in the first quarter, offering insights into the future of these leading cryptocurrencies.
Custodia Bank CEO Caitlin Long alleges the US Federal Reserve is enacting policies that favor big banks in the stablecoin market, despite claims of easing crypto regulations. She criticized the Fed for rescinding some restrictive crypto policies while maintaining a rule from January 2023 that restricts banks from directly interacting with digital assets. This, according to Long, creates an uneven playing field that benefits established financial institutions over newer crypto-focused entities.
Mastercard is expanding its payment capabilities by integrating stablecoins into its network. Partnering with crypto and fintech companies like OKX and Nuvei, the company will allow consumers to spend stablecoins and merchants to receive them. This initiative aims to bridge the gap between traditional payment systems and digital currencies, creating a comprehensive framework for wallet enablement and card functionalities.