1. Popular Coins on CEX
Top 10 CEX trading volumes and 24-hour price fluctuations:
- BTC: -1.08%
- ETH: -2.63%
- SOL: -0.34%
- XRP: -0.99%
- BNB: -3.33%
- STO: -56.41%
- DOGE: +0.00%
- LINK: -1.37%
- TRX: -0.25%
- XAUT: -0.40%
24-hour gainers list (data source: OKX):
- YB: +16.89%
- XPL: +11.24%
- MASK: +9.18%
- LIT: +9.22%
- SAFE: +8.34%
- ONE: +8.26%
- ALGO: +8.04%
- RESOLV: +7.92%
- RENDER: +6.97%
- MON: +7.13%
24-hour stock gains list (data source: msx.com):
- SWMR: 45.52%
- SIDU: 44.76%
- AAOI: 25.65%
- YSS: 21.19%
- LUNR: 18.13%
- SATL: 17.51%
- ABTS: 17.02%
- PL: 16.44%
- VOYG: 12.58%
- USO: 11.85%
2. Top 5 On-chain Memes (data source: GMGN):
- Community
- autism
- milkers
- POSITIONS
- RPU
Headlines
Iran to impose tolls on ships passing through the Strait of Hormuz
The Iranian Deputy Foreign Minister announced that Iran will impose tolls on ships passing through the Strait of Hormuz.
Grayscale, a cryptocurrency asset management firm, stated that recent developments in the Middle East and rising oil prices have led to a cautious market sentiment, with investors temporarily avoiding risk assets. Bitcoin has seen significant volatility since the escalation of conflict, but is maintaining a range consolidation, indicating relative resilience. Grayscale believes that if the situation eases and energy prices drop, the market could quickly return to a favorable environment. Long-term, the foundation of the crypto market remains strong, with continued growth in stablecoins and tokenized assets. The total supply of stablecoins has increased from about $20 billion in 2020 to around $315 billion in 2025, and the current phase of uncertainty may provide investment opportunities for long-term investors, laying the foundation for the next round of growth.
Trump: It's time for Iran to reach an agreement before it's too late
US President Trump stated that it is time for Iran to reach an agreement before it is too late. Previously, according to Al Jazeera, at the end of Trump's national speech yesterday, Iran launched a large number of missiles at Israel again.
Industry News
Circle to launch Wrapped Bitcoin (cirBTC)
Stablecoin issuer Circle announced that it will soon launch Wrapped Bitcoin (cirBTC), which is backed 1:1 by BTC and can be verified on-chain. Its design aims to seamlessly integrate with Circle's infrastructure and the broader DeFi ecosystem, creating a neutral infrastructure for new on-chain applications.
Bitcoin's trading price on Thursday was reported at $66,450, with about 44% of the circulating supply in a state of loss, totaling approximately $59.87 billion (about 8.8 million BTC), which suppresses market sentiment, indicating that market demand remains weak. Glassnode pointed out that this level of excess supply resembles that of Q2 2022, when about 3 million BTC needed to be redistributed before the market could recover.
Long-term holders (LTH) have started to sell below cost, with Bitcoin LTH realizing cumulative losses of $200 million, showing signs of active "sell capitulation." The current price of BTC is also below the average cost of $83,408 for US spot Bitcoin ETF holders, further indicating pressure on investors.
The decline in market risk appetite is also reflected in the outflow of investment products, with net outflows from Bitcoin investment products exceeding $194 million in the week ending March 27. Capriole Investment indicators showed apparent demand for BTC at -1,623 BTC, and CryptoQuant indicated that retail selling pressure remains dominant, confirming that the market is in a continued distribution phase. Coinbase's premium index continues to be negative, and US investors have not entered the market on a large scale, consistent with the shrinking trend in on-chain demand.
X platform Product Head and Solana ecosystem advisor Nikita Bier stated that the X platform is advancing a countermeasure against cryptocurrency phishing scams: if an account posts crypto-related content for the first time in its history, the platform will automatically trigger an account lock and require identity verification, a move expected to eliminate 99% of malicious motives.
Project News
Lighter's founder and CEO Vladimir Novakovski stated during yesterday's Q1 investor call that Lighter has initiated the application process for on-chain derivatives trading licenses, emphasizing that attracting large traditional financial institutions like Citadel would be unfeasible without a license.
Polymarket to provide over $5 million in LP subsidies for sports events in April
Polymarket official Mustafa (@mustafap0ly) stated on X that in April the platform will provide over $5 million in liquidity subsidies for the sports prediction market.
Mining company MARA to lay off about 15%, shifting towards AI and digital infrastructure
Bitcoin mining company MARA announced it will lay off about 15% of its full-time employees and some contractors across several departments. CEO Fred Thiel stated in an internal memo that the layoffs are a strategic decision as the company focuses on new directions, necessitating adjustments to the team structure. Affected employees will receive one month of paid vacation and 13 weeks of severance compensation.
MARA had previously begun laying the groundwork for AI and high-performance computing business and completed the majority acquisition of Exaion, a data center subsidiary of France's national energy company EDF, in February, and made an agreement with data center developer Starwood to repurpose around 1 gigawatt of Bitcoin mining infrastructure for AI workloads.
Investment and Financing
Tether initiates final push for financing at a $500 billion valuation
Tether is initiating a final push for financing at a $500 billion valuation, urging investors to commit to deals in the next two weeks.
SpaceX IPO target valuation exceeds $2 trillion, plans to raise up to $75 billion
SpaceX has raised its IPO target valuation to over $2 trillion and is preparing to pitch this potentially largest IPO in history to prospective investors.
SpaceX's valuation has grown nearly two-thirds in just months. In February, after acquiring xAI from Elon Musk, the combined company was valued at $1.25 trillion. If listed at a valuation exceeding $2 trillion, SpaceX would surpass all companies in the S&P 500 index except for Nvidia, Apple, Alphabet, Microsoft, and Amazon, and would also exceed Meta and Tesla.
SpaceX has secretly submitted its IPO application, with the earliest listing possibly occurring in June, and is expected to raise up to $75 billion, far exceeding the previous largest IPO record of $29 billion set by Saudi Aramco in 2019. The proceeds will be used for space AI data centers and lunar factory projects.
SpaceX has selected Bank of America, Citigroup, Goldman Sachs, JPMorgan Chase, and Morgan Stanley as the main underwriters for the IPO and plans to hold a banking group conference call next Monday, with an analyst briefing taking place later in April. Bloomberg Intelligence analysts point out that SpaceX’s revenue is expected to approach $20 billion by 2026, with its launch business and Starlink contributing most of the revenue.
Live prediction market Pumpcade completes $1 million Pre-Seed round financing, led by Pump.fun
The live prediction market platform Pumpcade announced it has completed a $1 million Pre-Seed round financing, led by Pump.fun, with Foundation Capital and angel investor RadioSolace also participating. The company plans to use the funds to expand its engineering team and execute marketing strategies in preparation for ending internal testing.
ZeroStack reaches $107 million financing agreement for 0G tokens, locking in nearly 21% of 0G supply
NASDAQ-listed ZeroStack Corp. announced that it has reached a final agreement for a $107 million financing transaction anchored in 0G tokens, and following the transaction, ZeroStack will hold approximately 21% of the total supply of 0G tokens. According to the financing terms, ZeroStack will establish a Texas-based company named Texas Blocker to facilitate the transaction, with investors planning to contribute 142,232,948 native 0G tokens (valued at approximately $107 million). Texas Blocker will become a wholly-owned subsidiary of ZeroStack after the share exchange is completed, which is expected to occur around July 5, 2026, but must meet customary closing conditions and receive shareholder approval.
Regulatory Trends
The US Commodity Futures Trading Commission (CFTC) and the US Department of Justice filed lawsuits against the states of Illinois, Connecticut, and Arizona and their gaming regulators on Thursday, claiming federal regulatory authority over prediction markets.
In 2025, the aforementioned three states and their gaming regulators issued cease and desist orders to prediction market platforms such as Kalshi and Polymarket, claiming that the event contracts offered by the platforms violated state gambling laws and licensing requirements. The CFTC asserts in all three lawsuits that under the Commodity Exchange Act, it has exclusive jurisdiction over "designated contract markets," including prediction market platforms. The lawsuit against Illinois argues that the state gaming commission’s classification of event contracts as "bets" or "sports betting" constitutes overreach.
CFTC Chair Mike Selig stated that the overreach by states has created market uncertainty and poses potential risks to market participants and registered entities. Currently, 11 states have taken legal action against prediction market platforms. Meanwhile, congressional representatives are pushing for legislation to ban event contracts related to sports and to restrict political insiders from participating in war-related prediction markets.
Voices
Ledger CTO Charles Guillemet stated that the attack method used in the Drift Protocol exploit is similar to the Bybit hacking incident of 2025, which is widely regarded as related to North Korean hackers.
He pointed out that this attack did not directly target smart contracts, but instead involved long-term infiltration of multi-signature signers’ devices, inducing them to approve malicious transactions, with the related signers potentially unaware of the authorization being completed. Guillemet believes that the security issues exposed by this incident mainly stem from personnel and operational aspects rather than defects in the code level.
Coinbase CEO: I will personally invest in Bitcoin quantum resistance research
Coinbase CEO Brian Armstrong stated that he will personally invest in research related to Bitcoin's quantum resistance and emphasized that the industry needs to push for solutions early.
Coinbase Chief Security Officer Philip Martin previously noted that as quantum computing research progresses, the industry needs to accelerate its response to potential threats. He stated that post-quantum cryptography is now viable but still in its infancy, and if implemented hastily, it could introduce new security risks. There is also a need to achieve consensus on issues such as the handling of wallets with unfinished migration. Additionally, Coinbase has begun related infrastructure upgrades and research and is promoting collaboration among developers and the community to advance quantum resistance solutions.
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