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Bots are killing social media, but decentralization can save it

Opinion by: Leroy Hofer, co-founder and CEO at Teneo Protocol

As the old wisdom goes, nobody knows you’re a dog on the internet. Often enough, nobody knows if you’re a bot either, to the point where the dead internet theory sometimes feels disturbingly tangible. 

Bot traffic share hit its highest level in 2024, up 2% on the year before, according to the 2024 Imperva Bad Bot Report. The bot pandemic is ravaging the Web. People are taking notice — people like Chanpeng Zhao, for example, who recently urged Elon Musk to ban bots on X. He’s not the only one in the Web3 community to call for such measures, and rightly so. 

From artificially inflating engagement metrics to orchestrating scams, bots are quickly drowning out real human interactions — and it’s at a time when our lives drift more and more into the online world. 

While platform owners continue to roll out AI-driven moderation and paywalls to curb bot activity, these solutions fail to address the root problem. Moderation tools also regularly operate with minimal transparency — incorrectly flagging legitimate content without users knowing why.

Users also often have to surrender personal data to prove they are not bots, raising privacy concerns and creating barriers to participation. More problems are being made, and a decentralized approach is the only viable path forward.

If left to fester, the rise of bots will create repercussions that go way beyond social media. Companies pouring money into digital marketing will see their budgets wasted on fake engagement. It’s even possible to imagine a dirty trick where a rival would use bots to waste the competitor’s money by feeding them fake impressions — this already happens in the digital ad space.

People are — and will continue to become — more suspicious of online interactions, making it harder for authentic creators and businesses to earn trust. The user experience also suffers. As automated noise drowns out meaningful discussions, users may eventually abandon social media for good. We need to deal with the bot problem for all these and other reasons — once and for good.

The limits of centralized solutions

Social media giants have been using centralized moderation strategies to tackle the bots issue for quite some time. AI-driven detection systems serve as the first line of defense. They’re far from perfect. Bots are getting smarter, often slipping through the cracks by mimicking human behavior and bypassing safeguards. On top of that, false positives can lead to unfair restrictions on genuine users. Oh, the mighty banhammer, a weapon from a more civilized age. 

Recent: CZ urges Elon Musk to ban bots on the X social media platform

Another common tactic is the implementation of paywalls, like X’s verification fees, which require users to pay for authentication. This method raises the financial hurdle for bot operators but also creates a two-tiered system that disadvantages users who can’t — or won’t — pay. Paywalls do little to deter well-funded bot farms that can easily overlook these costs. While these measures are well-meaning, they often miss the mark when balancing security with user accessibility.

A decentralized solution

A decentralized model hands the reins back to the users and offers an alternative to having centralized entities decide what’s real and what’s not. Using blockchain-based decentralized identity (DID) and reputation systems, platforms can verify real users without compromising their privacy. Decentralized solutions reduce the need for unclear moderation policies and empower people to control their own digital reputations across different platforms.

DID solutions enable users to verify their authenticity through cryptographic attestations, so intrusive Know Your Customer processes are unnecessary. Reputation-based systems can help to strengthen bot resistance by rewarding verified users with more social credibility while shrinking the impact of suspicious accounts. The real advantage here is that these systems operate transparently, preventing centralized authorities from imposing rules that may prioritize corporate interests over user rights.

Fixing social media’s bot problem without breaking it

The bot problem isn’t just a hassle — it’s a fundamental threat to the integrity of social media. The challenge is finding a solution that gets rid of bots without getting rid of free speech and user control. Centralized solutions are failing. Even worse, centralized systems also introduce new problems under the guise of security. A decentralized, data-driven approach enables people to authenticate themselves on their own terms, making bot-driven manipulation much harder.

We urgently need to move beyond the current system and push for decentralized solutions that protect users and bring authenticity back to social media. If social media is to be a space for genuine human interaction, it has to go decentralized before the bots make it useless.

Opinion by: Leroy Hofer, co-founder and CEO at Teneo Protocol.

This article is for general information purposes and is not intended to be and should not be taken as legal or investment advice. The views, thoughts, and opinions expressed here are the author’s alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.

Read more at cointelegraph.com

Bybit denies $1.4M listing fee, school promo accusations on X

Crypto exchange Bybit has denied claims that it charges $1.4 million to list a token on its platform, following allegations made by a social media user with over 100,000 followers.

On April 14, X user “silverfang88” accused the exchange of demanding millions from projects in listing fees. The user also alleged that Bybit used key opinion leaders (KOLs) to silence students who were given trial contracts through the platform’s Campus Ambassador program.

Bybit CEO Ben Zhou denied the allegations, asking the social media user to provide evidence backing the claims. Zhou added that the crypto space has been chaotic because of rumors posted without evidence. 

Bybit denies $1.4M listing fee, school promo accusations on X

Source: Ben Zhou

Bybit denies $1.4-million listing fee accusation

In a statement sent to Cointelegraph, a Bybit representative clarified the requirements for listing on the crypto exchange. 

According to Bybit, the exchange requires three things from projects: a promotion budget, a security deposit and an evaluation process. 

“Projects are expected to allocate promotional funds for user engagement activities, though legal constraints prevent exchanges from holding tokens directly,” the representative told Cointelegraph. 

Bybit said it asks for a deposit of $200,000–$300,000 in stablecoins to ensure promotional goals are met. Penalties may apply if the targets are not reached.

Apart from the promotional funds, the exchange said its listing process includes form submissions, internal voting, research and a listing review meeting. The representative told Cointelegraph: 

“Evaluations focus on fundamentals and risk controls, including onchain data, address authenticity, use cases, user distribution, project value, token valuation, value capture mechanisms and team credentials.”

Related: Bybit integrates Avalon through CeFi to DeFi bridge for Bitcoin yield

User claims Bybit provided trial contracts to students

In addition to the listing fee allegations, the X user claimed that Bybit had provided trial contracts to students under its 2024 Campus Ambassador program and used KOLs to suppress complaints.

The account shared a Campus Ambassador program run by the trading platform in 2024 and said the issue was related to the program. 

Zhou responded to those claims as well, again calling for proof. “Please show evidence if Bybit has done anything wrong,” he wrote on X.

The exchange has not responded directly to the specific claims related to its ambassador program at the time of publication.

Magazine: Memecoin degeneracy is funding groundbreaking anti-aging research

Read more at cointelegraph.com

Solana rallies 20% against Ethereum, but is $300 SOL price within reach?

Solana’s SOL has rallied more than 20% against Ether (ETH) over the last seven days, and a trader is eyeing a potential breakout to $300, which would mark new all-time highs.

SOL/ETH ratio hits highest weekly close

The SOL/ETH ratio, which reflects the value of Solana in Ether, rose to 0.080 on April 13, marking the highest weekly close ever, according to data from Cointelegraph Markets Pro and Binance.

The SOL/ETH trading pair has been forming higher highs on the daily chart since April 4, suggesting an uptrend is underway.

Solana rallies 20% against Ethereum, but is $300 SOL price within reach?

SOL/ETH daily chart. Source: Cointelegraph/TradingView

The SOL/ETH pair gains follow a bullish week for Solana, which has increased by 35% over the last seven days, against a 13% increase in ETH price over the same timeframe.

 “The SOL/ETH chart has just flashed a sign of strength,” said pseudonymous trader Bitcoinsensus in an April 14 post on X, adding:

“Solana has closed its highest weekly close against Ethereum in history, reflecting that we could see continued outperformance of the Solana Ecosystem.”

Previously, the SOL/ETH ratio reached as high as 0.093 in January during a rally in crypto prices fueled by US President Donald Trump’s inauguration, which saw the price briefly notch a new all-time high of $295.

Can Solana price reach $300 in April?

Popular crypto trader BitBull shared a CME futures chart on X that suggests SOL price could break out toward the $300 mark next.

The trader cited Ether’s price consolidation around $2,000 on the CME chart before breaking out to all-time highs in 2021. 

“SOL is now showing a similar structure on the CME futures chart” as it trades with the $120 and $130 range, BitBull pointed out, adding that SOL could follow a similar breakout to all-time highs above $300.

“Just like Ethereum’s run in 2021, Solana is setting up for a massive move in 2025.”

Solana rallies 20% against Ethereum, but is $300 SOL price within reach?

SOL CME Futures chart vs. ETH CME futures chart. Source: BitBull

Related: Fartcoin rallies 104% in a week — Will Solana (SOL) price catch up?

Chart technicals aside, several onchain metrics suggest that SOL’s path to new all-time highs faces significant hurdles.

For example, Solana’s network fees dropped more than 97% to $898,235 million on April 14, compared to $35.5 million on Jan. 20.

Solana rallies 20% against Ethereum, but is $300 SOL price within reach?

Solana network daily transaction fees, USD. Source: DefiLlama

The decline in Solana fees aligns with reduced trading activity on Raydium, Pump.fun, and Orca. At the same time, fees have stayed unchanged since mid-February on other decentralized applications, such as Jito, Moonshot.money, Meteora and Photon. 

Similarly, the daily DEX volumes on Solana plummeted to $2.17 billion on April 14, 93% below its Jan. 20 peak of $35.9 billion. 

Solana rallies 20% against Ethereum, but is $300 SOL price within reach?

Solana weekly DEX volumes, USD. Source: DefiLlama

Therefore, SOL’s journey toward new all-time highs will be a tough challenge unless there is a notable rise in network activity.

SOL’s price is up 3% during the past 24 hours to $133 and 54.5% below its Jan. 19 all-time record. 

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

Read more at cointelegraph.com

Solana rallies 20% against Ethereum, but is $300 SOL price within reach?

Solana’s SOL has rallied more than 20% against Ether (ETH) over the last seven days, and a trader is eyeing a potential breakout to $300, which would mark new all-time highs.

SOL/ETH ratio hits highest weekly close

The SOL/ETH ratio, which reflects the value of Solana in Ether, rose to 0.080 on April 13, marking the highest weekly close ever, according to data from Cointelegraph Markets Pro and Binance.

The SOL/ETH trading pair has been forming higher highs on the daily chart since April 4, suggesting an uptrend is underway.

Solana rallies 20% against Ethereum, but is $300 SOL price within reach?

SOL/ETH daily chart. Source: Cointelegraph/TradingView

The SOL/ETH pair gains follow a bullish week for Solana, which has increased by 35% over the last seven days, against a 13% increase in ETH price over the same timeframe.

 “The SOL/ETH chart has just flashed a sign of strength,” said pseudonymous trader Bitcoinsensus in an April 14 post on X, adding:

“Solana has closed its highest weekly close against Ethereum in history, reflecting that we could see continued outperformance of the Solana Ecosystem.”

Previously, the SOL/ETH ratio reached as high as 0.093 in January during a rally in crypto prices fueled by US President Donald Trump’s inauguration, which saw the price briefly notch a new all-time high of $295.

Can Solana price reach $300 in April?

Popular crypto trader BitBull shared a CME futures chart on X that suggests SOL price could break out toward the $300 mark next.

The trader cited Ether’s price consolidation around $2,000 on the CME chart before breaking out to all-time highs in 2021. 

“SOL is now showing a similar structure on the CME futures chart” as it trades with the $120 and $130 range, BitBull pointed out, adding that SOL could follow a similar breakout to all-time highs above $300.

“Just like Ethereum’s run in 2021, Solana is setting up for a massive move in 2025.”

Solana rallies 20% against Ethereum, but is $300 SOL price within reach?

SOL CME Futures chart vs. ETH CME futures chart. Source: BitBull

Related: Fartcoin rallies 104% in a week — Will Solana (SOL) price catch up?

Chart technicals aside, several onchain metrics suggest that SOL’s path to new all-time highs faces significant hurdles.

For example, Solana’s network fees dropped more than 97% to $898,235 million on April 14, compared to $35.5 million on Jan. 20.

Solana rallies 20% against Ethereum, but is $300 SOL price within reach?

Solana network daily transaction fees, USD. Source: DefiLlama

The decline in Solana fees aligns with reduced trading activity on Raydium, Pump.fun, and Orca. At the same time, fees have stayed unchanged since mid-February on other decentralized applications, such as Jito, Moonshot.money, Meteora and Photon. 

Similarly, the daily DEX volumes on Solana plummeted to $2.17 billion on April 14, 93% below its Jan. 20 peak of $35.9 billion. 

Solana rallies 20% against Ethereum, but is $300 SOL price within reach?

Solana weekly DEX volumes, USD. Source: DefiLlama

Therefore, SOL’s journey toward new all-time highs will be a tough challenge unless there is a notable rise in network activity.

SOL’s price is up 3% during the past 24 hours to $133 and 54.5% below its Jan. 19 all-time record. 

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

Read more at cointelegraph.com

Circle’s EURC grows as trade war pushes euro higher — Analyst

The market cap of Circle’s Euro Coin (EURC), a euro-pegged stablecoin, is growing quickly as the ongoing trade war pushes the US dollar price lower.

“In recent weeks, interest in the euro has grown tremendously” and “this interest has not escaped the Circle EURC stablecoin,” Obchakevich Research founder Alex Obchakevich wrote in a recent X post.

The euro has risen by 2.2%, reaching its highest price since February 2022 at its current price of $1.13.

Obchakevich said that amid this happening, decentralized finance (DeFi) protocol Aave saw €2.3 million of Euro Coin inflows in April alone. He further highlighted that EURC’s capitalization is growing at a rapid pace.

Circle’s EURC grows as trade war pushes euro higher — Analyst

Source: Obchakevich’s

CoinMarketCap data shows EURC’s market cap rose from under $84 million at the end of 2024 to more than $198 million as of mid-April — a 136% increase year to date.

Related: ECB exec renews push for digital euro to counter US stablecoin growth

The euro grows amid an increasingly harsh trade war

The euro’s recent rally comes as the US dollar weakens on the back of escalating trade tensions. Since Dec. 31, 2024, the dollar has dropped from 0.97 euro to 0.88 euro, a 9.3% decline against the euro.

The US and European Union “are likely to reach an agreement on a trade deal that will stabilize the euro at $1.11 to the dollar,” Obchakevich said. Still, he expects the Euro Coin to keep growing:

“EURC will continue to grow through integration with various payment systems and blockchains.“

The analyst said that after launching on Ethereum, Euro Coin was also deployed on Avalanche, Base, Stellar, Sonic and Solana, leading to a growing supply. He shared his outlook on future market developments:

“I predict EURC to grow to 400 million euros by the end of this year. This will be further impacted by MiCa regulatory support and economic challenges.“

Related: Digital euro to be ‘most private electronic payment option

MiCA works in Circle’s favor

Euro Coin and USDC (USDC) issuer Circle is reaping the rewards of its regulatory-friendly strategy. The firm’s products are the top euro and US dollar-pegged stablecoins that comply with the European Union’s Markets in Crypto-Assets (MiCA) regulation.

The current stablecoin market leader is Tether, with its USDt (USDT) stablecoin currently having a market cap of $144 billion according to CoinMarketCap data. This is significantly higher than leading stablecoin USDC’s $60 billion market cap.

Still, many expect this gap to shrink as the USDt keeps being pushed from the European Union’s market due to a lack of MiCA compliance. This trend culminated in the world’s leading crypto exchange, Binance, delisting USDt for its European Economic Area-based users to comply with the rules in March.

Magazine: How crypto laws are changing across the world in 2025

Read more at cointelegraph.com

Circle’s EURC grows as trade war pushes euro higher — Analyst

The market cap of Circle’s Euro Coin (EURC), a euro-pegged stablecoin, is growing quickly as the ongoing trade war pushes the US dollar price lower.

“In recent weeks, interest in the euro has grown tremendously” and “this interest has not escaped the Circle EURC stablecoin,” Obchakevich Research founder Alex Obchakevich wrote in a recent X post.

The euro has risen by 2.2%, reaching its highest price since February 2022 at its current price of $1.13.

Obchakevich said that amid this happening, decentralized finance (DeFi) protocol Aave saw €2.3 million of Euro Coin inflows in April alone. He further highlighted that EURC’s capitalization is growing at a rapid pace.

Circle’s EURC grows as trade war pushes euro higher — Analyst

Source: Obchakevich’s

CoinMarketCap data shows EURC’s market cap rose from under $84 million at the end of 2024 to more than $198 million as of mid-April — a 136% increase year to date.

Related: ECB exec renews push for digital euro to counter US stablecoin growth

The euro grows amid an increasingly harsh trade war

The euro’s recent rally comes as the US dollar weakens on the back of escalating trade tensions. Since Dec. 31, 2024, the dollar has dropped from 0.97 euro to 0.88 euro, a 9.3% decline against the euro.

The US and European Union “are likely to reach an agreement on a trade deal that will stabilize the euro at $1.11 to the dollar,” Obchakevich said. Still, he expects the Euro Coin to keep growing:

“EURC will continue to grow through integration with various payment systems and blockchains.“

The analyst said that after launching on Ethereum, Euro Coin was also deployed on Avalanche, Base, Stellar, Sonic and Solana, leading to a growing supply. He shared his outlook on future market developments:

“I predict EURC to grow to 400 million euros by the end of this year. This will be further impacted by MiCa regulatory support and economic challenges.“

Related: Digital euro to be ‘most private electronic payment option

MiCA works in Circle’s favor

Euro Coin and USDC (USDC) issuer Circle is reaping the rewards of its regulatory-friendly strategy. The firm’s products are the top euro and US dollar-pegged stablecoins that comply with the European Union’s Markets in Crypto-Assets (MiCA) regulation.

The current stablecoin market leader is Tether, with its USDt (USDT) stablecoin currently having a market cap of $144 billion according to CoinMarketCap data. This is significantly higher than leading stablecoin USDC’s $60 billion market cap.

Still, many expect this gap to shrink as the USDt keeps being pushed from the European Union’s market due to a lack of MiCA compliance. This trend culminated in the world’s leading crypto exchange, Binance, delisting USDt for its European Economic Area-based users to comply with the rules in March.

Magazine: How crypto laws are changing across the world in 2025

Read more at cointelegraph.com

Kraken rolls out ETF and stock access for US crypto traders

Kraken is expanding beyond cryptocurrencies by offering US-listed stocks and exchange-traded funds (ETFs) in a move aimed at appealing to more traditional investors.

Kraken, the world’s 13th largest centralized cryptocurrency exchange by volume, announced the launch of 11,000 US-listed stocks and ETFs with commission-free trading in an effort to bring “equities and digital assets together” under one trading platform.

As of April 14, US-based users in New Jersey, Connecticut, Wyoming, Oklahoma, Idaho, Iowa, Rhode Island, Kentucky, Alabama and the District of Columbia can access these stocks and ETFs within their Kraken account, the company announced.

Kraken rolls out ETF and stock access for US crypto traders

Kraken expands to stocks and ETFs. Source: Kraken

The exchange plans to continue expanding access to clients in other US states, marking the first part of a “phased national rollout.”

Related: Trump’s tariff escalation exposes ‘deeper fractures’ in global financial system

Both traditional and cryptocurrency investor sentiment took a significant hit after US President Donald Trump’s reciprocal import tariff announcement on April 2.

Kraken’s traditional stock offering comes over a week after the S&P 500 posted a $5-trillion loss in market capitalization over two days, marking its largest drop on record, surpassing a $3.3-trillion decline in March 2020 after the first wave of the COVID-19 pandemic.

Related: 70% chance of crypto bottoming before June amid trade fears: Nansen

Crypto is “becoming the backbone for trading”

Kraken’s expansion into traditional investment products signals the growing utility of cryptocurrencies and blockchain technology, according to Arjun Sethi, co-CEO of Kraken.

“Crypto isn’t just evolving, it’s becoming the backbone for trading across asset classes, such as equities, commodities and currencies. As demand for 24/7 global access grows, clients want a seamless, all-in-one trading experience.” 

Sethi added that expanding into traditional equities is a “natural step” toward the tokenization of real-world assets and the “borderless” future of trading built on blockchain rails.

Kraken also plans to expand its stock trading offering to other large international markets, including the United Kingdom, Europe and Australia.

Magazine: Illegal arcade disguised as … a fake Bitcoin mine? Soldier scams in China: Asia Express

Read more at cointelegraph.com

Crypto lending down 43% from 2021 highs, DeFi borrowing surges 959%

The crypto lending market’s size remains significantly down from its $64 billion high, but decentralized finance (DeFi) borrowing has made a more than 900% recovery from bear market lows.

Crypto lending enables borrowers to use their crypto holdings as collateral to obtain a crypto or fiat loan, while lenders can loan their holdings to generate interest.

The crypto lending market is down over 43%, from its all-time high of $64.4 billion in 2021 to $36.5 billion at the end of the fourth quarter of 2024, according to a Galaxy Digital research report published on April 14.

“The decline can be attributed to the decimation of lenders on the supply side and funds, individuals, and corporate entities on the demand side,” according to Zack Pokorny, research associate at Galaxy Digital.

Crypto lending down 43% from 2021 highs, DeFi borrowing surges 959%

Crypto lending key events. Source: Galaxy Research

The decline in the crypto lending market started in 2022 when centralized finance (CeFi) lenders Genesis, Celsius Network, BlockFi and Voyager filed for bankruptcy within two years as crypto valuations fell.

Their collective downfall led to an estimated 78% collapse in the size of the lending market, with CeFi lending losing 82% of its open borrows, according to the report.

While the overall value of the crypto lending market has yet to reach its previous highs, DeFi lending has made a significant recovery according to some metrics.

Related: Trump kills DeFi broker rule in major crypto win: Finance Redefined

DeFi borrows grow nearly 10-fold

The crypto lending market found its bottom at $1.8 billion in open borrows during the bear market in the fourth quarter of 2022.

However, DeFi open borrows rose to $19.1 billion across 20 lending applications and 12 blockchains by the end of 2024, representing a 959% increase over the eight quarters from the 2022 market bottom.

“DeFi borrowing has experienced a stronger recovery than that of CeFi lending,” wrote Galaxy Digital’s research associate, Pokorny, adding:

“This can be attributed to the permissionless nature of blockchain-based applications and the survival of lending applications through the bear market chaos that felled major CeFi lenders.”

“Unlike the largest CeFi lenders that went bankrupt and no longer operate, the largest lending applications and markets were not all forced to close and continued to function,” he added.

Related: Google to enforce MiCA rules for crypto ads in Europe starting April 23

Outstanding CeFi borrows are worth a collective $11.2 billion, which is 68% lower compared to the peak $34.8 billion combined book size of the CeFi lenders achieved in 2022.

Crypto lending down 43% from 2021 highs, DeFi borrowing surges 959%

CeFi Lending Market Size by Quarter End. Source: Galaxy Research

The three largest CeFi lenders, Tether, Galaxy and Ledn, account for a combined 88.6% of the total CeFi lending market and 27% of the total crypto lending market.

Magazine: Memecoin degeneracy is funding groundbreaking anti-aging research

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Michael Saylor’s Strategy buys $285M Bitcoin amid market uncertainty

Michael Saylor’s digital asset firm, Strategy, purchased 3,459 Bitcoin for $285.5 million, signaling continued confidence in Bitcoin even as global markets face trade-related headwinds.

Strategy acquired the 3,459 Bitcoin (BTC) for $285.5 million at an average price of $82,618 per BTC. The purchase brings Strategy’s total Bitcoin holdings to 531,644 BTC, acquired for a cumulative $35.92 billion at an average price of $67,556 per coin, achieving an over 11.4% yield since the beginning of 2025, Saylor wrote in an April 14 X post.

Michael Saylor’s Strategy buys $285M Bitcoin amid market uncertainty

Source: Michael Saylor

The $285 million purchase marks Strategy’s first Bitcoin investment since March 31, when the company acquired $1.9 billion worth of Bitcoin, Cointelegraph reported.

According to data from Saylortracker, the firm is currently sitting on more than $9.1 billion in unrealized profit, representing a 25% gain on its total Bitcoin position as of 12:20 pm UTC.

Michael Saylor’s Strategy buys $285M Bitcoin amid market uncertainty

Strategy total Bitcoin holdings. Source: Saylortracker 

Strategy’s continued accumulation comes despite a broader market pullback and declining appetite for risk assets. The downturn has been largely attributed to global trade policy uncertainty after US President Donald Trump announced a new round of tariffs.

Trump announced a 90-day pause on higher reciprocal tariffs on April 9, reverting the tariffs to the 10% baseline for most countries, except for China, which currently faces a 145% import tariff.

Related: New York bill proposes legalizing Bitcoin, crypto for state payments

Crypto markets open with “cautious strength” ahead of key economic releases

Despite continued uncertainty around the outcome of trade negotiations, Bitcoin staged an over 10% recovery in the past seven days to above $85,000 as of 1:10 pm UTC, Cointelegraph Markets Pro data shows.

Michael Saylor’s Strategy buys $285M Bitcoin amid market uncertainty

BTC/USD, 1-year chart. Source: Cointelegraph

“Crypto markets opened the week with cautious strength, continuing a broad recovery from last Monday’s tariff-induced sell-off,” Stella Zlatareva, dispatch editor at digital asset investment platform Nexo, told Cointelegraph, adding:

“Bitcoin trades above $84,000, marking a robust rebound despite the global macro background. While investor focus remains fixed on US-China trade dynamics, crypto’s relative stability stands out.”

“This week’s calendar includes key data from China, Fed commentary and updates on retail sales, all of which could shape the next leg of risk asset performance,” she added.

Related: Bitcoin ‘more likely’ to hit $110K before $76.5K — Arthur Hayes

Despite the tariff-related uncertainty, some analysts, including Jamie Coutts, predicted that the growing money supply could push Bitcoin’s price above $132,000 before the end of 2025.

Zooming out to the next decade, Bitcoin remains on track to surpass $1.8 million by 2035, in a development that may see Bitcoin surpass gold’s $21 trillion market capitalization as the superior savings technology, Joe Burnett, director of market research at Unchained, told Cointelegraph.

Magazine: Bitcoin ATH sooner than expected? XRP may drop 40%, and more: Hodler’s Digest, March 23 – 29

Read more at cointelegraph.com

Crypto investment products nearly wipe 2025 gains as outflows hit $7.2B

Digital asset exchange-traded products (ETPs) saw almost $800 million in outflows last week, marking their third consecutive week, according to a report from crypto asset manager CoinShares. 

On April 14, CoinShares reported that crypto ETPs saw $795 million in outflows last week, with Bitcoin (BTC)-based products accounting for $751 million, while Ether (ETH) products followed with $37.6 million. 

While the major tokens saw increased outflows, some altcoins went against the flow, seeing small gains. These included XRP, Ondo Finance, Algorand and Avalanche. 

According to CoinShares, the total outflows of crypto ETPs since February have reached $7.2 billion, nearly wiping out the year-to-date (YTD) inflows from the investment products. 

Tariff activity weighs in on crypto ETPs

CoinShares head of research James Butterfill attributed the outflows to the recent tariff-related activities initiated by United States President Donald Trump. 

On April 2, Trump signed an executive order imposing a 10% baseline tariff on all imports from all countries. The president also set reciprocal tariffs for countries that charge tariffs on US imports. The Trump administration then continued flip-flopping over tariff policy, bringing market uncertainty. 

Butterfill wrote that the “wave of negative sentiment” that started in February has resulted in record outflows of $7.2 billion. The outflows have nearly wiped out all the YTD inflows, now amounting to $165 million.

In addition to Bitcoin and Ether-based products, altcoins like Solana, Aave and Sui also collectively saw outflows of over $6 million last week. 

While Bitcoin-related products have also seen huge outflows, its YTD gains still stand at $545 million. Furthermore, short-Bitcoin products also saw outflows totaling $4.6 million. 

Related: This year’s top ETF strategy? Shorting Ether — Bloomberg Intelligence

BlackRock’s iShares lead crypto ETP outflows 

BlackRock’s iShares exchange-traded funds (ETFs) had the most outflows among ETP providers. CoinShares data shows that BlackRock’s ETFs saw $342 million in outflows last week, putting its total month-to-date outflows at $412 million. 

Crypto investment products nearly wipe 2025 gains as outflows hit $7.2B

Crypto ETP flows chart by asset provider. Source: CoinShares

Even though BlackRock had massive outflows this month, the ETF issuer still has about $2.8 billion in YTD inflows. The asset manager also holds over $49.6 billion in assets under management (AUM).

Magazine: Memecoin degeneracy is funding groundbreaking anti-aging research

Read more at cointelegraph.com