BTC breaks $87K mark; altcoins join the party

Hola folks!

Welcome back to the weekly crypto roundup—your go-to newsletter for the latest trends, major market shifts, and updates from the crypto world.

Bitcoin kept the market on the edge, swinging between $83K and $87K before settling with a 3.6% weekly gain. Mid-week jitters from global trade tensions pulled BTC down, but a liquidity surge and institutional power plays fueled a strong rebound. 

Altcoins weren’t left behind with BNB, SOL, LINK, and TON all riding the green wave, while DeFi lit up with fresh partnerships and record volumes. From Arbitrum’s “Timeboost” upgrade to Bitwise’s significant institutional moves, and Kraken's entry into traditional finance, the space is evolving rapidly. Stay tuned as we break it all down for you.

The crypto market experienced a dynamic week, led by Bitcoin’s rollercoaster ride between $83,260 and $87,510, ultimately delivering a weekly gain of 3.6%. Investor caution amid global trade uncertainties weighed on BTC mid-week, pulling it below the $84k level. However, BTC surged to $87,000 earlier today, boosted by rising global liquidity as the M2 money supply expanded and institutional investors continued to show interest. Notable moves included Strategy’s $285.8 million BTC acquisition and Abraxas Capital’s $250 million investment for 2,900 BTC, signaling continued conviction among institutions.

In DeFi, Ethena partnered with Re, a restaking protocol focused on tokenized RWAs for the reinsurance market, to allow USDe and sUSDe holders to earn yield by locking their tokens. OpenEden's USDO stablecoin crossed $116 million in market cap, reflecting a 96% growth over the past two weeks. 

PumpSwap, the native DEX of memecoin launchpad PumpFun, reached a new all-time high in weekly trading volume, handling $2.93 billion in trades. Speaking of blockchains, Arbitrum introduced “Timeboost” to enhance network speed and efficiency, while OKX launched both its exchange and wallet platform in the US. Stablecoins remained stable, with the total market cap nudging up 0.25% to $227 million.

In other developments, HashKey Capital unveiled the first XRP Tracker Fund, backed by Ripple. Bitwise made strides in institutional adoption by listing four crypto ETPs on the London Stock Exchange, offering exposure to BTC, ETH, and ETH staking. Its Q1 report highlighted a landmark shift, revealing that stablecoin transactions outpaced Visa volumes. 

On the regulatory front, Slovenia is set to revamp its crypto tax policies, proposing a 25% capital gains tax on digital asset profits. Meanwhile, crypto exchange Kraken launched commission-free trading for US-listed stocks and ETFs, marking its entry into traditional financial markets.

In the altcoins sector, BNB, SOL, LINK, and TON posted weekly gains of 3.1%, 6.2%, 6.6%, and 7.5%, respectively. 

Weekly price movement: 

• BTC $87,495 ⏫ 3.42% (7d)

• BNB $605 ⏫ 2.55% (7d)

• SOL $140 ⏫ 5.94% (7d)

• LINK $13 ⏫ 7.40% (7d)

• TON $3.04 ⏫8.08% (7d)

(All data here as of 1:40 p.m., 21 April 2025)

Before we conclude, here’s a quick look at some important news from around the crypto world.

• Google will begin enforcing stricter advertising policies for crypto services in Europe under the Markets in Crypto-Assets (MiCA) framework, the company said in a recent policy update. The move could be a “double-edged sword” for regulation that may prevent initial coin offering (ICO) fraud, but risks further enforcement gaps, according to Cointelegraph. 

• Transaction costs on the Ethereum network have dropped to their lowest level in five years as activity on the blockchain is in a lull, according to the on-chain analytics platform Santiment. Ethereum network fees are now around $0.168 per transaction, and the reduction in fees coincides with fewer people sending Ether and interacting with smart contracts, according to Cointelegraph.

That’s it for now. Thanks for sticking around.

See you later, folks! 👋

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