The cryptocurrency sector experienced a notable rebound in the past week, with the overall market capitalization surpassing the $3 trillion threshold for the first time since early March. Bitcoin (BTC) reached a peak of $97,300, a level not seen since late February, prior to the announcement of the “Liberation Day” tariffs in the United States. This surge has fueled analysts’ forecasts of a potential rally, driven by significant institutional investments and inflows from exchange-traded funds (ETFs) into Bitcoin.
### Rising Investor Confidence Amid Tariff Talks
Investor enthusiasm within the crypto market has been bolstered by reports from Chinese state-affiliated media suggesting that the Trump administration has been in discussions with Beijing regarding potential tariff reductions. This growing risk appetite among crypto investors could be indicative of a broader trend towards increased market stability.
### Ethereum Introduces New Token Standard
In the realm of Ethereum, developers have put forth a proposal for a new token standard aimed at enhancing the interoperability of the second-largest blockchain network. This move is designed to address the fragmentation in how wallets, applications, and protocols interpret and display information.
### Bitcoin’s Future Valuation Predictions
According to André Dragosch, head of European research at Bitwise, Bitcoin’s growing acceptance among institutional investors could lead to substantial inflows that might elevate its market capitalization beyond that of gold, potentially pushing its price to $1 million by 2029. Currently, gold holds the title of the world’s most valuable asset, with a market cap exceeding $21.7 trillion, while Bitcoin stands at $1.9 trillion, ranking as the seventh-largest asset globally.
### Major Investment in Binance by MGX
In a significant development, Abu Dhabi-based investment firm MGX announced plans to utilize a stablecoin associated with the Trump family for a $2 billion investment in Binance, the leading cryptocurrency exchange. The USD1 stablecoin, which is pegged to the US dollar, was launched by World Liberty Financial, a platform affiliated with the Trump family, in March 2025. This marks MGX’s inaugural foray into the cryptocurrency sector, with the investment being touted as the largest institutional backing for Binance to date.
### Ethereum Aims for Improved Cross-Chain Transactions
Ethereum developers are actively working on two new token standards, ERC-7930 and ERC-7828, to streamline cross-chain transactions. These developments stem from a recognition that the current lack of standardized methods for wallets and applications leads to a fragmented user experience. The organization Wonderland, which is committed to advancing the Ethereum DeFi ecosystem, is seeking feedback on these proposed standards from the community.
### Increase in DeFi Hacks Raises Concerns
April saw a troubling surge in cryptocurrency hacks, with over $90 million stolen from decentralized finance (DeFi) platforms, according to a report from blockchain cybersecurity firm Immunefi. This figure reflects a staggering 124% increase from March’s total of $41 million. The most significant breach involved the open-source platform UPCX, which suffered losses exceeding $70 million. Notably, all reported hacks this month targeted DeFi platforms, while centralized exchanges remained unscathed.
### Crypto Lobby Urges End to Prosecutions
The DeFi Education Fund, a cryptocurrency advocacy group, has reached out to the Trump administration, urging an end to what they describe as the unjust prosecution of open-source developers, including Roman Storm, who is facing charges linked to Tornado Cash. The group contends that these legal actions set a dangerous precedent by holding software developers accountable for how their code is used, which could stifle innovation within the industry.
### Overview of the DeFi Market Performance
Recent data indicates that the majority of the top 100 cryptocurrencies experienced gains over the past week, with the Virtuals Protocol (VIRTUAL) token witnessing an impressive rise of over 103%. Following closely was the Solayer (LAYER) token, which increased by more than 29%. As the DeFi landscape continues to evolve, the upcoming week promises to bring further insights and developments in this fast-growing sector.
