- CEX Hot Coins
CEX Trading Volume Top 10 and 24-Hour Price Change:
BTC: + 2.83%
ETH: + 3.56%
XRP: +1.29%
SOL: +0.89%
BNB: +0.22%
DOGE: +3.28%
SUI: +5.2%
PEPE: +3.98%
ACT: -61.75%
ADA: + 1.71%
24H Price Increase Ranking (Data Source: OKX):
COMP: +22.41%
ULTI: + 14.36%
MEW: + 13.05%
EOS: + 11.34%
BONK: +10.64%
PENDLE: + 9.22%
RENDER: +7.05%
MKR: +5.97%
CRO: +5.74%
RIO: +5.71%
- On-chain Hot Meme Top 5 (Data Source: GMGN):
Fartcoin
ELON
ANIME
BUPS (BNB Chain)
titcoin
- 24H Hot Search Coins
PUMP: PUMP is the official token of PumpBTC and is the exclusive TGE project of Binance Wallet for the seventh phase. Current market cap is $14.56 million.
ELON: ELON is a meme coin on the Solana chain, aiming to leverage Musk's meme culture to drive community interaction. It seeks to apply low-cost, fast Solana network for scenarios like social rewards and community incentives. Current market cap is $11 million.
Headlines
Binance's official account @BinanceHelpDesk responded to users on the X platform, stating that the incident was mainly due to three VIP users concentrating on selling tokens worth approximately $514,000 in the spot market, along with a non-VIP user transferring in and quickly selling $540,000 worth of ACT tokens from an external platform. The related sell-off triggered forced liquidations of some futures contracts and caused a chain reaction in the market.
Binance stated that after investigation, no single account was found to have made significant profits from this incident. Since the related tokens have all circulated in the secondary market, the platform cannot intervene in normal market trading behavior. To mitigate risks, Binance has recently proactively reduced the leverage ratio of ACT/USDT perpetual contracts and emphasized that it will continue to enhance market liquidity through its market maker program.
Previously, ACT experienced a flash crash of 50% in a short time, sparking community discussions.
SEC Cryptocurrency Special Group to Hold Four Roundtable Meetings
The U.S. Securities and Exchange Commission (SEC) announced that its cryptocurrency special group will hold four more meetings in the first half of this year following the first roundtable meeting, focusing on in-depth discussions on topics such as crypto trading, custody, asset tokenization, and decentralized finance. The four meetings will be held on the following dates and themes:
April 11: "Between Blocks and Regulation: Tailoring Rules for Crypto Trading";
April 25: "Know Your Custodian: Key Considerations for Crypto Asset Custody";
May 12: "Asset Tokenization: The Intersection of Traditional Finance and DeFi";
June 6: "DeFi and the American Spirit".
The head of the special group, Commissioner Hester M. Peirce, stated: "These roundtable meetings allow us to hear expert opinions, clarify regulatory challenges, and explore the SEC's response strategies." All roundtable meetings will be live-streamed to the public.
U.S. Government Expected to Disclose Its Holdings of Bitcoin and Other Crypto Assets on April 5
The U.S. Treasury and other federal agencies are expected to disclose their holdings of Bitcoin and other crypto assets on April 5, following a recent directive from President Trump. It will soon be clarified whether the digital assets mentioned by Trump, such as XRP, SOL, and ADA, will be included in the national digital asset reserves. David Bailey, CEO of BTC Inc, stated that the audit results may reveal the reasons behind Bitcoin's recent price movements.
According to a presidential document released on March 11, all federal agencies must report their holdings of Bitcoin and other digital assets to the Treasury Secretary within 30 days of the issuance of the order. The Treasury Secretary has also been instructed to establish two offices to manage the government's digital asset holdings. Strategic Bitcoin reserves will consist of Bitcoin obtained through criminal or civil forfeiture and will not be sold.
Industry News
The Trump team is finalizing the tariff plan ahead of the April 2 trade policy announcement, currently considering introducing a third "compromise option": imposing a uniform tariff rate on certain countries, expected to be lower than the previously discussed 20% general tariff.
Previously, Trump had considered imposing a 20% uniform tariff on nearly all imported goods or implementing a reciprocal tariff mechanism based on country differences. However, this extreme proposal faced opposition from industry and labor groups, and some Republican senators indicated they might support a Democratic proposal challenging the president's emergency tariff authority.
Grayscale Applies for S-3 Registration for Its Digital Large Cap Fund, Plans to Launch ETF
According to the SEC's official website, Grayscale submitted the S-3 form on April 1, planning to register its Grayscale Digital Large Cap Fund as an exchange-traded fund (ETF).
Bitcoin Policy Institute Proposes Issuing "BitBonds" to Support Trump's Strategic Bitcoin Reserve
The Bitcoin Policy Institute proposed issuing a new type of government bond called "BitBonds" to support the Trump administration's strategic Bitcoin reserve plan. This bond will offer a 1% annual interest rate (lower than the ordinary government bond rate of 4.5%) and allocate 10% of the funds raised to purchase Bitcoin.
According to the plan, if $20 trillion worth of BitBonds are issued, it could save $700 billion in interest over ten years. Currently, the U.S. government holds approximately 200,000 Bitcoins (worth $17 billion), and after deducting the portion to be returned, the initial scale of the strategic reserve is about 103,500 Bitcoins.
This proposal aims to achieve budget-neutral accumulation of Bitcoin while reducing the cost of government bonds. The Treasury Secretary will assess the feasibility of this proposal within 60 days.
BlackRock Approved by UK Regulators to Operate as a Crypto Asset Company
BlackRock has been approved by UK regulators to operate as a crypto asset company.
VANECK Registers BNB ETF in Delaware
Market news indicates that asset management firm VANECK has registered the "VANECK BNB ETF" in Delaware, indicating its intention to launch a fund product linked to BNB in the U.S.
Project News
Binance Adjusts T+1 Withdrawal Mechanism for C2C
According to the official announcement, Binance C2C will adjust the T+1 withdrawal plan starting April 1, 2025, specifically:
Binance will add a T+0 withdrawal limit of $1,000 equivalent assets for all users on top of the existing T+1 withdrawal mechanism;
If a user has no assets in their Binance account, regardless of how much they buy on the same day, they can only withdraw up to $1,000 equivalent assets on the day of purchase, and the remaining assets can only be withdrawn 24 hours after the order completion time;
If a user already has assets in their Binance account, an additional T+0 withdrawal limit of $1,000 equivalent assets will be added on top of the existing C2C T+1 withdrawal restrictions;
Any trading star user who buys any amount of cryptocurrency in C2C will not be subject to T+1 withdrawal restrictions.
Binance to Launch KERNEL as the Fourth Phase of the Megadrop Project
According to the official announcement, Binance has announced that the fourth phase of the Megadrop project will be KernelDAO (KERNEL), which is a re-staking protocol supporting Kernel, Kelp, and Gain. The maximum supply of KERNEL is 1 billion tokens, with Megadrop rewards of 40 million tokens (accounting for 4% of the total supply). The initial circulation will be 162.3 million tokens (16.23%). Specific launch time and details will be announced separately within a week.
Coinkarma founder Benson Sun analyzed on the X platform, stating, "Today at 18:30, ACT suddenly flash crashed by 50%. The cause was Binance adjusting the leverage position limits for ACT, where a maximum of $4.5 million could be opened with 1x leverage. Some market makers had positions exceeding this limit, which were directly liquidated at market price. After the contract price collapsed, there was a huge price difference with the spot market, causing the spot market to crash as well.
Binance announced the changes at 15:32 on April 1, with the changes taking effect at 18:30 on the same day, giving users less than 3 hours to react. Even more absurdly, Binance had already announced a modification to ACT's position limits on March 31, and on April 1, they cut the position limits for low leverage by another 50%.
Before modifying the rules, Binance should have assessed how many positions would be liquidated. If there were significant positions from market makers, they should have been notified in advance. As an industry leader, I hope Binance can handle this incident properly."
Circle Submits S-1 Filing, Plans to List on NYSE under the Code CRCL
Circle has submitted an S-1 filing to the U.S. Securities and Exchange Commission (SEC), planning to conduct an initial public offering (IPO) with the stock code "CRCL" and intends to list on the New York Stock Exchange. The IPO pricing range has not yet been announced.
GameStop Completes $1.5 Billion Convertible Bond Issuance, May Initiate Bitcoin Allocation Plan
GameStop (GME) has completed the full subscription of $1.3 billion in five-year convertible notes, raising a total of $1.5 billion including the over-allotment portion, with net proceeds of $1.48 billion after expenses.
Previously, GameStop disclosed in its latest financial report that its board had approved an update to its investment policy, planning to include Bitcoin on its balance sheet. The market expects that the company may have already started or is about to initiate Bitcoin asset allocation.
Investment and Financing
Cambrian Network Completes $5.9 Million Seed Round Financing, Led by a16z CSX
AI infrastructure protocol Cambrian Network announced it has completed a $5.9 million seed round financing, led by a16z Crypto Startup Accelerator (CSX) with participation from BB Fund. Cambrian aims to build intelligent infrastructure for AI financial agents, empowering AI agents to make smarter market predictions and financial decisions by integrating on-chain and off-chain data. The project was founded by former members of The Graph and Semiotic Labs, and it has now launched private testing and plans to release a testnet.
Voices
Arthur Hayes: Even if U.S. Stocks Decline, Bitcoin Still Expected to Reach $250,000 by Year-End
BitMEX co-founder Arthur Hayes reiterated his long-term bullish stance on Bitcoin in his latest blog. He stated that the core pricing of Bitcoin is based on "technology + fiat liquidity," and there are no significant changes on the technological front currently, with the market mainly trading around future fiat supply expectations.
Hayes believes that if the Federal Reserve truly shifts from quantitative tightening (QT) to quantitative easing (QE), then Bitcoin has already bottomed out near $76,500. He mentioned that although the U.S. stock market may decline due to tariffs, lowered corporate earnings expectations, or weak overseas demand, Bitcoin is still expected to continue rising, challenging $250,000 by year-end.
Grayscale Executive: Tariff Impact May Have Been Priced In, Crypto Market May Return to Fundamentals
Grayscale's research director Zach Pandl stated that the negative impact of tariffs on cryptocurrencies may have already been "priced in" by the market, and the worst phase may be over. He believes that if the tariff policy announced by Trump on April 2 is tough but implemented in phases and focused on 15 target countries, the market may see a rebound, and the crypto market may also refocus on positive fundamentals. Additionally, Pandl pointed out that tariffs will enhance market interest in non-dollar assets, benefiting alternative currency assets, including Bitcoin.
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