Treasury Secretary Scott Bessent announced on April 24 that the US government has sanctioned multiple crypto wallets linked to Iran’s Islamic Revolutionary Guard Corps under a campaign called Operation Economic Fury, with Tether executing the freeze of $344 million in USDT across two addresses on the Tron blockchain at the direction of American authorities.

The US Treasury’s Office of Foreign Assets Control sanctioned multiple crypto wallet addresses linked to Iran’s Islamic Revolutionary Guard Corps on April 24, with Tether executing the freeze of $344 million in USDT across two Tron blockchain addresses in coordination with American law enforcement. “We will follow the money that Tehran is desperately attempting to move outside of the country and target all financial lifelines tied to the regime,” Bessent said in a statement announcing the action.

Operation Economic Fury Iran Crypto Freeze Targets IRGC Financial Architecture

The two frozen Tron wallets held approximately $213 million and $131 million in USDT respectively. Both were blacklisted at the USDT smart contract level rather than at the blockchain layer, meaning Tron itself continued operating normally while Tether’s issuer-level controls rendered the funds immovable. Chainalysis told CNN the wallets’ transaction patterns are “consistent with how we’ve observed other known IRGC wallets move funds on chain,” describing frequent large transfers of up to tens of millions of dollars predominantly between private wallets. A US official said investigators had identified material links to the Iranian regime, including transactions with Iranian exchanges and intermediary addresses that interacted with wallets associated with the Central Bank of Iran. As crypto.news reported, Chainalysis estimates Iran’s crypto ecosystem reached approximately $7.8 billion in 2025, with IRGC-linked activity accounting for roughly half of all on-chain holdings by the fourth quarter of that year.

Tether as a Sanctions Enforcement Tool

Thursday’s action was not the first time Tether’s freeze capability has been deployed as a Treasury enforcement mechanism, but at $344 million it is the largest single crypto freeze directly linked to Iran since the current conflict began. As crypto.news documented, Tether has increasingly aligned its wallet freezing policy with OFAC’s Specially Designated Nationals list, blocking addresses connected to sanctioned individuals, terrorism financing, and high-risk jurisdictions across a growing number of enforcement actions. The freeze also follows January’s OFAC designations of two UK-registered crypto exchanges, Zedcex and Zedxion, for processing IRGC transactions, which crypto.news tracked as Britain subsequently moved to dissolve Zedxion after TRM Labs found IRGC-linked flows had reached 87% of the platform’s total transaction volume by 2024. The dual approach, sanctioning infrastructure and freezing assets simultaneously, reflects Treasury’s attempt to dismantle the layered architecture Iran has built to move money through digital rails while avoiding traditional banking.

What the Freeze Means for Iran’s Crypto Strategy

Daniel Tannebaum, a senior fellow at the Atlantic Council, told CNN the freeze is meaningful but said that given how sanctioned Iran already is, it does not necessarily move the needle on Tehran’s ability to operate during the conflict. As crypto.news noted, Iran has embedded cryptocurrency into its financial architecture at the state level, legalizing Bitcoin mining in 2019, accepting stablecoin payments for military export contracts since January 2026, and running a formal Strait of Hormuz toll system that operates in practice through stablecoins and yuan to bypass OFAC enforcement. The $344 million freeze removes a significant portion of visible on-chain holdings, but Tannebaum warned that the more effective approach to limiting Iran’s financial reach at this stage is targeting third-country actors enabling Tehran rather than the wallets themselves.

Tether said it executed the freeze in full coordination with OFAC and law enforcement, and reiterated its policy of blocking payments used to evade sanctions.

US spot Bitcoin exchange-traded funds (ETFs) have extended their inflow momentum through late April, notching a nine-day streak amid growing investor conviction.

During the period, which spanned April 14 and April 24, total net inflows reached roughly $2.12 billion, with the strongest single-day performance on April 17, when funds attracted $663.91 million. April 14 and April 22 also posted robust gains of $411.50 million and $335.82 million, respectively.

The weakest day came on Friday, with a more modest $14.45 million in net inflows. BlackRock’s IBIT led the day with $22.88 million in inflows. In contrast, Fidelity’s FBTC recorded outflows of $1.69 million, while Bitwise’s BITB and ARK 21Shares’ ARKB saw withdrawals of $8.85 million and $9.02 million, respectively. Other funds, including Grayscale’s GBTC and smaller products, reported largely flat flows.

The April streak is the first nine-day run for spot Bitcoin (BTC) ETFs since a similar run in October, when inflows surged, including $1.21 billion on Oct. 6 and $875.6 million on Oct. 7.

Spot Bitcoin ETFs see 9-day inflow streak. Source: SoSoValue

The sustained inflows also come alongside a strengthening Bitcoin market, with BTC currently trading at $77,516.55, up 10.73% over the past month, according to data from CoinMarketCap.

Related: Bitcoin ETFs Surpass March Inflow Streak With $1.9B

Bitcoin ETF investors hold firm

The recent steady stream of capital has pushed flows back into positive territory for 2026, with cumulative total net inflows reaching $58.23 billion.

This trend comes even as Bitcoin remains about 35% below its record high reached in early October, ETF analyst Nate Geraci wrote in a recent post on X. He said this pattern suggests that ETF investors are taking a longer-term approach rather than reacting to short-term volatility. The continued inflows during a market drawdown point to a more resilient investor base, often described as “diamond hands” in crypto circles.

“ETF investors proving to be longer-term allocators,” he wrote.

Related: Spot Bitcoin ETFs Gain $411M as Goldman Files ETF Plan

Ether ETFs see strong inflows

US spot Ether (ETH) ETFs also maintained a strong inflow streak from April 14 through April 22, posting nine consecutive days of net positive flows. However, the streak was broken on April 23, when funds recorded net outflows of $75.94 million.

During the nine-day run from April 14 to April 22, total inflows were consistently solid, with the strongest single-day performance on April 17, when Ether ETFs attracted $127.49 million. Other standout sessions included April 22 with $96.44 million and April 20 with $67.77 million.

Magazine: AI-driven hacks could kill DeFi — unless projects act now

Cointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently.

TLDR:

• France recorded 135 crypto-related kidnappings since 2023, with 47 cases already logged in 2026.
  
• Eighty-eight suspects, including over 10 minors, have been charged across 12 active French cases.
  
• A couple in Dompierre-sur-Mer was forced to transfer roughly 8 million euros in cryptocurrency as ransom.
  
• Prosecutors identified recurring suspects across multiple cases, confirming the presence of structured criminal networks.

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Crypto-related kidnappings in France have reached alarming levels, prompting decisive action from prosecutors. On April 24, France’s national anti-organized crime prosecutor announced 88 individuals have been formally charged.

These charges span 12 ongoing cases and include more than 10 minors among the accused. Seventy-five of those charged remain in pretrial detention.

Since 2023, authorities have recorded 135 such incidents nationwide, with the numbers rising sharply each year.

Rising Numbers Reveal the Scope of a Growing Criminal Trend

The data alone shows how rapidly this problem has grown in France. Authorities recorded 18 crypto-related kidnapping incidents throughout 2024.

That number surged to 67 over the course of 2025. So far in 2026, 47 new cases have already been logged, and the year is far from over. Prosecutors have described the trajectory as unprecedented in scope.

Vanessa Perrée, chief prosecutor at the National Anti-Organized Crime Prosecutor’s Office (Pnaco), pointed to a “significant volume of defendants” across the active cases.

She further described the pattern as “rapidly evolving criminal phenomena,” noting their direct connection to the use of crypto assets. These cases involve abduction or unlawful detention, often accompanied by physical violence against victims. Victims are then forced to transfer cryptocurrency assets or surrender digital securities as ransom.

Perrée also flagged “the identification of people involved in several cases on a recurring basis, thus revealing the existence of structured networks.” This pattern strongly points to organized criminal groups operating across multiple regions of France. Law enforcement has been actively cross-referencing cases to confirm these broader connections. The close coordination between agencies has proven central to advancing the investigations.

In one recent development, three men aged between 25 and 30 were arrested in connection with a November 2025 kidnapping case. The incident took place in Challes-les-Eaux, in the Savoie region. The Chambéry gendarmerie and the National Judicial Police Unit carried out the arrests. All three suspects were subsequently charged and placed in pretrial detention.

High-Profile Cases Push Authorities Toward a Stronger National Response

Two of those three suspects also face charges connected to a separate December 2025 case. That incident occurred in Dompierre-sur-Mer, where a couple was abducted by three hooded individuals. The attackers forced the victims to transfer approximately 8 million euros in cryptocurrency before fleeing.

A third suspect in the Dompierre-sur-Mer case was arrested separately by the Poitiers research section. He was also charged and placed in pretrial detention alongside the others. His lawyer, Baptiste Bellet, told AFP directly: “My client contests all the facts of which he is accused.”

The wave of crypto-related kidnappings entered public consciousness after a January 2025 incident. Ledger co-founder David Balland and his partner were kidnapped in a targeted attack. His partner was eventually released, and Balland was later found tied up inside a vehicle. The case spread widely across X, with voices in the crypto community urging stronger personal security practices.

Faced with “the magnitude of the facts” and their rapid acceleration since 2025, Perrée credited investigative units for carrying out “an in-depth work of judicial rapprochement” across cases nationwide. She acknowledged the central office for fighting organized crime and the gendarmerie’s UNPJ in particular. The Pnaco has since committed to strengthening its criminal response throughout the entire country.

TLDR:

• Mars FX reported 19% annual returns with zero losing months, a pattern no legitimate fund has ever sustained in history.
  
• Novus directed investor funds to an unnamed BVI partner later identified as TRFX, which had been offline since 2022.
  
• Deloitte issued clean audit opinions yearly without independently verifying whether the reported fund assets actually existed.
  
• US regulators are now proposing fewer hedge fund disclosures and cutting enforcement staff amid an active $600M fraud investigation.

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A massive financial scandal has emerged around Mars FX, a hedge fund that allegedly collected nearly $600 million from investors before the money disappeared.

The fund, operated under the Novus umbrella and led by Wharton graduate David Choi, posted suspiciously perfect returns for years.

Regulators across multiple countries are now investigating, while auditor Deloitte faces serious legal scrutiny for signing off on financials without independent asset verification.

Red Flags Ignored as Investors Poured Hundreds of Millions Into Mars FX

Mars FX reported 19% annual returns with zero losing months across its entire operating history. No legitimate investment fund has ever sustained a record like that through natural market conditions. Markets fluctuate by nature, and every real fund absorbs losses at some point along the way.

Despite that glaring anomaly, investors continued wiring money into the fund. By February 2024, the US fund alone had collected $331 million from clients. Total exposure across all associated funds reached close to $600 million in combined investor capital.

Novus told investors their money would flow to an unnamed technology partner based in the British Virgin Islands.

The firm labeled this arrangement as “proprietary and sensitive,” refusing to disclose the partner’s identity to investors. Hundreds of millions changed hands without investors knowing where their funds were actually going.

That unnamed partner was later identified as TRFX. According to reports, TRFX claims its trading platform had stopped operating in 2022—two full years before Mars FX was still actively raising capital from new investors.

Deloitte Faces Legal Action While Regulators Propose Looser Oversight Rules

Bull Theory captured the scale of the problem on X, writing, “A fund that never loses money is not a good fund. It is a fund hiding something.” That observation now looks more accurate than many investors would have hoped when they first wired their money in.

Deloitte, one of the four largest audit firms globally, issued clean opinions on Mars FX financials year after year. A lawsuit filed against the firm alleges it never independently verified that the reported assets actually existed.

The 2024 offering documents showed TRFX was neither a licensed broker nor a regulated custodian, yet Deloitte noted no significant concerns in its audit the same year.

The SEC, CFTC, UK Financial Conduct Authority, and British Virgin Islands regulators are all now involved in active investigations.

The FBI and a Manhattan grand jury have also opened proceedings into the matter. No charges have been filed, and the money remains entirely unaccounted for.

Arizona small business owner CarolAnn Tutera, 70, lost money in the earlier GPB Capital fraud and was defrauded again through Mars FX.

She said plainly: “I’m really fed up with finance guys on Wall Street.” Her frustration reflects a system that failed her twice.

Meanwhile, US regulators this week formally proposed eliminating filing requirements for smaller hedge funds and cutting enforcement staff at agencies responsible for catching exactly this kind of fraud.

Key Highlights

• Aave service providers submitted a governance proposal to allocate 25,000 ETH (approximately $58M) toward addressing Kelp DAO’s exploit shortfall
• The exploit involved an attacker creating unbacked rsETH through a compromised LayerZero bridge, which was then leveraged as collateral on Aave
• Multiple DeFi protocols including Lido DAO, Ether.fi, and Golem, along with private contributors, have committed ETH to the recovery initiative
• DeFi United’s recovery fund has accumulated approximately 69,534 ETH (roughly $161M), potentially covering the estimated shortfall
• Year-to-date 2026, DeFi’s total value locked has contracted more than 27%, falling to slightly over $80 billion

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On Friday, Aave’s service providers put forward a governance proposal seeking authorization to transfer 25,000 ETH—valued at approximately $58 million—from the protocol’s treasury to the DeFi United recovery initiative. This contribution aims to ensure complete backing for rsETH following the security breach at Kelp DAO that occurred last week.

The security incident unfolded on April 18 when a malicious actor identified and exploited a critical vulnerability within the Ethereum LayerZero bridge adapter utilized by Kelp. This breach resulted in the extraction of 152,577 rsETH tokens, generating an initial deficit of approximately 163,183 ETH. The perpetrator subsequently deposited the unbacked rsETH as collateral on Aave, borrowing legitimate assets and creating bad debt for the platform.

While the proposal awaits a formal governance vote, it has garnered substantial backing from members of the DeFi ecosystem.

[[LINK_START_0]]Aave[[LINK_END_0]] founder and CEO Stani Kulechov personally committed 5,000 ETH from his own holdings, characterizing Aave as his “life’s work.” Additionally, Emilio Frangella, the protocol’s Senior VP of Engineering, pledged 500 ETH to the recovery effort.

Several other protocols have stepped forward to participate. Lido DAO put forth a proposal to contribute up to 2,500 ETH, while Ether.fi offered up to 5,000 ETH. Golem committed 1,000 ETH to the fund, and BGD Labs also made a contribution.

Bridging the Recovery Gap

Mantle introduced a separate proposal for a low-interest credit facility offering up to 30,000 ETH, designed to assist Aave in managing any residual bad debt not addressed through donated funds.

Approximately 30,700 ETH was also immobilized on Arbitrum in the aftermath of the attack, a factor that plays into the overall recovery calculations.

According to a tracking tool circulated on X, the actual rsETH shortfall stands at 112,204 rsETH, equivalent to roughly 118,400 ETH. When combining all proposed contributions, the Mantle credit facility, the frozen Arbitrum holdings, and anticipated recoveries from both Aave and Compound, the deficit appears to be fully addressed.

X user DCF GOD calculated that the shortfall has been adequately covered, contingent upon passage of all pending governance proposals. Should this scenario materialize, Aave may not require the full extent of Mantle’s credit facility.

DeFi Sector Faces TVL Decline Amid Security Incidents

The DeFi United recovery fund currently holds approximately 69,534 ETH, translating to nearly $161 million when accounting for all pledged and proposed allocations.

According to data from The Block, total value locked throughout DeFi protocols currently stands just above $80 billion. This represents a decline exceeding 27% compared to the approximately $110 billion recorded at the beginning of 2026.

Analysts from JPMorgan have observed that recurring security exploits are dampening institutional appetite for DeFi, with some market participants redirecting capital into stablecoins.

The Aave governance vote concerning the 25,000 ETH allocation remains pending. Similarly, all other proposed contributions await final ratification from their respective protocol governance mechanisms.

TLDR

• U.S. authorities seized $344 million in Tether stablecoin connected to Iranian entities through “Economic Fury” initiative
• Two TRON network addresses were blacklisted by Tether following Treasury sanctions
• Iranian authorities have increasingly relied on cryptocurrency to circumvent international sanctions
• Diplomatic discussions between Washington and Tehran could continue this weekend
• Total frozen Iranian assets now reach approximately $2 billion

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The United States government seized $344 million worth of USDT stablecoin this week, claiming the digital assets are connected to Iranian state entities. This action represents another escalation in Washington’s financial offensive designed to pressure Iran into diplomatic concessions.

On Friday, Treasury Secretary Scott Bessent revealed the sanctions. The Office of Foreign Assets Control (OFAC) targeted several cryptocurrency wallets believed to have direct connections to Tehran’s government.

“We will follow the money that Tehran is desperately attempting to move outside of the country and target all financial lifelines tied to the regime,” Bessent stated. He characterized this initiative as “Economic Fury.”

Tether responded on Thursday by freezing two wallet addresses operating on the TRON blockchain. The combined holdings in these addresses totaled $344 million in USDT. The stablecoin company confirmed its cooperation with U.S. government directives.

According to a government official speaking with CoinDesk, the targeted wallets demonstrated unmistakable connections to Iranian state operations. Evidence included transfers involving Iranian cryptocurrency exchanges and routing patterns linked to Iran’s central banking system.

Tehran’s Growing Cryptocurrency Adoption

U.S. intelligence agencies report that Iran has significantly expanded its use of digital currencies to bypass economic restrictions. The nation has employed sophisticated transaction methods to obscure its involvement in international financial transfers.

Iran’s central banking authorities have attempted to conceal their operations by channeling resources through cryptocurrency networks rather than conventional financial institutions. Treasury officials confirmed they’re collaborating with blockchain analysis companies and digital asset platforms to monitor these activities.

In a related development, Iran allegedly selected Bitcoin rather than stablecoins for collecting tolls at the strategically important Strait of Hormuz. The rationale: Bitcoin presents greater challenges for U.S. seizure compared to USDT. Washington now controls nearly $2 billion in frozen Iranian assets across various channels.

Friday also saw sanctions imposed on Hengli Petrochemical, a Chinese refining operation. Officials allege the company serves as a critical component in Iran’s petroleum industry.

Diplomatic Negotiations May Continue Shortly

Another session of U.S.-Iran diplomatic discussions could occur within days. President Trump plans to dispatch envoys Steve Witkoff and Jared Kushner to Pakistan for meetings with Iranian Foreign Minister Abbas Araghchi.

Vice President JD Vance, who participated in initial negotiations, won’t be present for this round. Iran’s Parliament Speaker, who represented Tehran previously, will also be absent from upcoming talks.

Tehran has insisted on the release of frozen assets as a prerequisite for any agreement. Trump has stated that the American naval blockade at the Strait of Hormuz costs Iran approximately $500 million daily.

Bitcoin traded around $77,800 on Thursday, slightly below its intraday peak of $78,400. The cryptocurrency has gained more than 3% over the past week.

Key Highlights

• Large holders account for 94.4% of XRP withdrawals from Binance, signaling concentrated accumulation
• Spot cumulative volume delta increased by $310 million amid persistent futures market selling
• XRP maintains position above critical support zones between $1.39 and $1.43 with RSI at neutral 53%
• Farmers & Merchants Investments revealed Bitwise XRP ETF position through SEC disclosure
• Technical analyst Ali Martinez forecasts possible 10% surge toward $1.58 level

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XRP is currently hovering around $1.43 as multiple data streams indicate intensifying accumulation among major holders. Despite shedding more than 20% of its value year-to-date in 2025, both blockchain metrics and market analysts signal a potential trend reversal.

Large-scale transactions on Binance represented 94.4% of total withdrawals on April 24, based on analysis from CryptoQuant’s Amr Taha. Retail participation fell to a mere 5.5% during the same timeframe.

The XRP Ledger registered 34.94 million XRP tokens moving off exchanges that day. Data from Santiment positioned this as the sixth-highest single-day withdrawal volume recorded in 2025.

Historical patterns suggest such withdrawal surges often precede upward price movements. Following a comparable whale activity spike in October of the previous year, XRP experienced a remarkable 525% rally. Another notable increase in June 2025 led to a subsequent 71% price appreciation.

The spot cumulative volume delta for XRP—which tracks genuine buying pressure—climbed from $1.08 billion to $1.39 billion, representing a $310 million increase over recent weeks. Simultaneously, Binance perpetual futures CVD declined to -$392 million, indicating futures market participants maintain net short positions.

Price Action and Technical Framework

XRP is currently positioned above its 200-day exponential moving average at $1.39. The 50-day EMA rests at $1.42, while the 20-day EMA stands at $1.43, establishing multiple nearby support layers.

 

The Relative Strength Index reads 53%, indicating neither overbought nor oversold conditions. The MACD indicator demonstrates diminishing downward momentum, pointing to potential trend stabilization.

Fibonacci-based resistance targets are identified at $1.45 and $1.49. Support structure remains intact within the $1.42 to $1.39 corridor.

Long position liquidations have dominated since April 18, effectively reducing market leverage and tempering excessive bullish speculation. This deleveraging has contributed to improved funding rate conditions.

Crypto analyst Ali Martinez shared technical analysis on April 24 highlighting a symmetrical triangle formation on XRP’s hourly timeframe. His projection suggests a potential 10% advance from present levels, targeting approximately $1.58 upon breakout confirmation.

Growing Institutional Participation

Farmers & Merchants Investments, a banking institution managing $3.6 billion in assets under management, reported holdings in the Bitwise XRP ETF through recent SEC documentation. The institution’s position comprises 2,374 shares with an approximate valuation of $35,681.

The same firm maintains positions in BlackRock’s Bitcoin ETF product. Goldman Sachs currently leads institutional XRP ETF ownership with holdings exceeding $152 million.

Spot XRP exchange-traded funds registered net inflows totaling $3.89 million on Thursday, pushing aggregate inflows to $1.28 billion. Combined assets under management across all XRP ETF vehicles have reached $1.08 billion, per SoSoValue tracking.

XRP achieved its all-time peak of $3.65 on July 18, 2025. Current trading stands at $1.44, with today’s price range spanning $1.41 to $1.44.

TLDR:

• Grayscale staked 102,400 ETH worth $237M via 32 transactions, bringing its net staking rewards to nearly $38 million.
  
• Bitmine now holds 3.7 million staked ETH worth $8.58 billion, representing 74% of its total Ethereum holdings.
  
• Grayscale’s Ethereum Mini ETF ranked first among US ETP providers in Q1 2026, recording $337 million in net inflows.
  
• Nearly 39 million ETH is locked in staking contracts network-wide, removing close to one-third of all ETH from circulation.

---

Ethereum staking activity has surged, with Grayscale Investments and Bitmine collectively committing close to $500 million within 24 hours.

On-chain data from Arkham Intelligence confirmed both transactions. Grayscale deposited 102,400 ETH worth roughly $237 million through Coinbase Prime.

Bitmine followed with an additional 112,040 ETH valued at about $259.6 million. Both firms now rank among the most active institutional Ethereum stakers globally. This activity reflects growing institutional confidence in ETH’s staking infrastructure and long-term utility.

Grayscale Builds ETH Staking Position Across Its Products

Grayscale executed its latest staking deposit through 32 separate transactions. Funds moved from its Ethereum Trust wallet directly to Coinbase Prime.

The asset manager first activated Ethereum staking for its products in October 2025. Since then, it has accumulated nearly $38 million in net staking rewards.

The firm operates two staking-focused Ethereum products in the US market. These are the Grayscale Ethereum Staking ETF (ETHE) and the Mini ETF (ETH).

Combined assets under management for both products reached $4 billion as of April 24. Steady inflows have driven that growth since staking capabilities launched.

Grayscale CEO Peter Mintzberg shared performance figures for the first quarter of 2026. He noted that the Mini ETF ranked first among all US ETP providers.

The fund pulled in $337 million in net inflows during that period alone. Mintzberg also pointed to Ethereum’s record-breaking 200 million-plus on-chain transactions for Q1.

In a public post, Mintzberg wrote that Ethereum recorded its busiest quarter ever on-chain. He cited $180 billion in stablecoin activity and the expansion of programmable finance infrastructure.

Real usage is growing, and staking aligns with that fundamental investment thesis. Grayscale views staking as a core pillar of its Ethereum product strategy.

Bitmine Leads the Race as the Largest Corporate Ethereum Staker

Bitmine Immersion Technologies now holds the top position among corporate Ethereum stakers. The firm disclosed this week that its staked ETH had reached 3.3 million units.

That amount represented 67% of its total Ethereum holdings at the time. No other corporate entity currently matches Bitmine’s scale of ETH staking.

The firm expanded its staked position further on Friday. Lookonchain reported that Bitmine staked an additional 112,040 ETH on that day.

After the deposit, total staked ETH climbed to 3.7 million units. That now equals approximately 74% of Bitmine’s overall ETH holdings.

The on-chain tracker noted that Bitmine’s cumulative staked ETH is worth $8.58 billion. Tom Lee’s firm has built what amounts to a yield-driven ETH treasury strategy.

Each additional stake reinforces its position as a dominant institutional holder. The firm’s approach is drawing attention from other corporate entities watching the ETH markets.

Across the broader Ethereum network, roughly 39 million ETH is currently locked in staking contracts. That is close to one-third of all Ethereum in existence.

Removing this supply from the open market reduces available trading liquidity. Additional institutional staking further tightens the available ETH supply pool over time.

Quick Summary

• A rare MACD crossover on Solana’s weekly timeframe has triggered a buy signal, historically followed by rallies ranging from 100% to 860%
• The Relative Strength Index has bounced back to 35 from a low of 25 recorded in mid-February, mirroring conditions at the 2022 market bottom
• Technical analysis reveals a symmetrical triangle formation suggesting a potential move to $130 upon breakout confirmation
• Critical resistance zone between $90 and $96 contains approximately 9.9 million SOL tokens with average acquisition prices of $90-$92
• Technical analyst Ali Charts identified a Bollinger Band compression on the 3-day timeframe, designating the $77-$94 range as a cautionary zone

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A significant technical development has emerged on Solana’s (SOL) weekly chart as a MACD buy signal appears — an indicator that has historically preceded substantial price rallies. The digital asset is currently changing hands near $85-$86 following a retreat from its weekly peak of $89.

The Moving Average Convergence Divergence line has crossed above its signal line on the weekly timeframe. This identical crossover pattern emerged in May 2025, preceding a rally that propelled SOL from approximately $125 to beyond $250 — representing a gain of nearly 100%.

Previous occurrences of this technical signal preceded even more dramatic rallies, including an 860% surge in 2023 and a 617% advance in 2021.

Solana’s weekly Relative Strength Index has also rebounded to 35 from its mid-February low of 25. This reading is particularly notable as it aligns with RSI levels observed during Solana’s 2022 bear market capitulation, which subsequently led to an explosive 2,500% rally reaching $210 by March 2024.

Market analyst Tyler Hill highlighted that Solana’s RSI had declined below 35 for the first time in 1,200 days. According to Hill, the previous instance of such extreme readings marked the bear market floor and triggered a subsequent 3,000% price expansion.

Analyst Sixtysecondalpha emphasized that the MACD crossover occurred following its “lowest stretch ever.” When combined with bullish divergence on the RSI, they concluded that SOL is positioned for its “most powerful move” in the past two years.

Technical Pattern Suggests $130 Price Objective

Examining the daily chart reveals that SOL has developed a symmetrical triangle consolidation pattern. The critical breakout threshold is established at $90. Should price action confirm a daily close above this level, the pattern’s measured move projects a target of approximately $130, representing a potential 50% gain from current trading levels.

The daily RSI indicator has recovered to 52 from deeply oversold conditions of 11 registered on February 6, signaling a notable improvement in underlying momentum.

Critical Resistance Zone at $90 Poses Challenge

The $90-$96 price corridor represents a formidable obstacle for continued upside. Data from Glassnode reveals that approximately 9.9 million Solana tokens are currently held by market participants with an average entry price between $90 and $92. A substantial portion of these holders may look to exit positions at breakeven levels, potentially creating significant selling pressure that could impede upward momentum.

Additional technical resistance emerges from the convergence of 100-day moving averages within this same zone, reinforcing the challenge bulls face.

Technical analyst Ali Charts drew attention to a developing Bollinger Band squeeze on the 3-day chart, with price action compressed within the $77 to $94 corridor. Ali Charts characterized this range as a “no-trade zone” and recommended that traders wait for a decisive 3-day candle close beyond the bands before initiating positions.

Solana is presently maintaining support within the $85-$86 area as buyers continue efforts to recapture the crucial $90 threshold.

Key Highlights

• Bitcoin has posted a 13.6% gain in April, marking its strongest monthly performance since last year
• Major holders with wallets containing 10–10,000 BTC have acquired approximately 41,000 BTC since mid-April
• Tether’s USDT market capitalization expanded to roughly $150 billion, growing by $5 billion within a two-week period
• Spot Bitcoin ETFs have recorded eight consecutive days of positive net flows, with $223 million added on April 23 alone, spearheaded by BlackRock’s IBIT
• Market participants are closely monitoring the $79,000 price level as critical resistance before the Federal Reserve’s upcoming policy decision

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Bitcoin is experiencing its most impressive April performance in twelve months. The leading cryptocurrency reached an intraday peak of $79,327 on Wednesday before retracing to approximately $77,390. Month-to-date gains now stand at roughly 13.6%.

This rally represents a significant turnaround following a challenging period. Digital asset markets experienced their most prolonged downturn since 2018, suffering back-to-back monthly losses spanning from October through February.

A major catalyst behind the current rebound appears to be expanding stablecoin liquidity. The circulating supply of Tether’s USDT has climbed to nearly $150 billion, with approximately $5 billion added during the last fortnight. Market analysts typically interpret stablecoin supply expansion as an indicator of new capital flowing into cryptocurrency markets.

From a macroeconomic perspective, traditional U.S. equity markets have also rebounded strongly. Both the S&P 500 and Nasdaq have climbed back toward all-time highs following brief corrections into negative territory earlier this year.

Jasper de Maere, an OTC trader at Wintermute, observed that financial markets have essentially begun to ignore headlines surrounding Middle Eastern conflicts. He explained that robust corporate earnings reports are helping to counterbalance geopolitical tensions, although he cautioned about “a certain level of fatigue and potentially complacency” creeping into market sentiment.

Large Holder Accumulation Pattern Emerges

According to data from cryptocurrency sentiment analytics platform Santiment, Bitcoin addresses holding between 10 and 10,000 BTC have acquired 40,967 BTC starting from April 10, representing approximately $3.17 billion in value.

In a post shared on X, Santiment stated: “Bitcoin’s key stakeholders are accumulating rapidly.” The firm characterized this dynamic — where large holders purchase while smaller retail investors realize profits — as “one of the strongest signals for a long-term bull run.”

Meanwhile, smaller retail participants (holding less than 0.1 BTC) accumulated merely 46 BTC during the identical timeframe, valued at around $3.56 million.

Andre Dragosch, who serves as head of Europe research at Bitwise, also commented on X Friday: “Institutional demand for Bitcoin is clearly accelerating.”

Spot ETF Momentum Continues

Bitcoin spot exchange-traded funds registered $223 million in net positive flows on April 23, extending their winning streak to eight consecutive trading sessions. BlackRock’s IBIT product dominated with $167.49 million in inflows. Ark & 21Shares’ ARKB contributed an additional $71.22 million. Aggregate net assets across Bitcoin ETF products have now reached $102.79 billion.

Ethereum-focused ETFs, on the other hand, experienced their first day of outflows following a 10-day positive streak, recording net redemptions of $75.94 million.

Michael van de Poppe, founder of MN Trading Capital, indicated on Thursday that Bitcoin possesses “enough room” to advance toward the $86,000 level, though maintaining support above $75,000 will be essential for sustaining upward momentum.

The Crypto Fear & Greed Index registered a reading of 39 on Friday, remaining within “Fear” territory.

Adam Haeems, head of asset management at Tesseract Group, emphasized that the $79,000 price point “matters structurally because heavy institutional overhead supply sits just above it.” He suggested that sustained ETF inflows leading up to and through the Federal Reserve’s upcoming policy meeting could transform $79,000 from a resistance barrier into a support foundation.

The forthcoming Federal Reserve monetary policy meeting represents the primary near-term catalyst that market participants are monitoring most attentively.