Crypto World
Crypto ETP Inflows Hit $1.1 Billion, Strongest Since January
Cryptocurrency investment products clocked significant inflows last week, marking their strongest weekly gains since January.
Global crypto exchange-traded products (ETPs) logged $1.1 billion in inflows last week, with Bitcoin (BTC) leading the gains with $871 million in inflows, CoinShares reported on Monday.
The inflows marked the second-biggest weekly gains in 2026 so far, following only the $2.17 billion in weekly inflows recorded in mid-January.
CoinShares’ head of research, James Butterfill, attributed the spike in inflows to a rebound in investor risk appetite following tentative ceasefire developments in Iran, alongside support from softer-than-expected US inflation and spending data.
The inflows came amid volatility in spot markets, with BTC reclaiming $70,000 and briefly topping $73,000 last week, even as broader market sentiment remained negative, underscoring sustained institutional demand and resilience in regulated investment products.
Ether ETP flows rebound, but year-to-date inflows are still negative
Ether (ETH) ETPs saw a strong rebound in sentiment with around $196.5 million in inflows, the first inflows after three consecutive weeks of outflows.
Despite the gains, Ether remains one of the only assets in a net outflow position year-to-date, at $130 million. In contrast, Bitcoin sits on the largest inflows this year so far at $1.9 billion and accounts for around 83% of the $2.3 billion in total crypto ETP inflows year-to-date.
Although Bitcoin ETPs posted significant inflows, short-Bitcoin investors were also active last week, with weekly inflows totaling $20 million, their largest weekly inflows since November 2024, Butterfill noted.
Among other gains, XRP (XRP) ETPs posted inflows of around $19 million. Solana (SOL) saw minor outflows of $2.5 million.
Related: BlackRock Bitcoin ETF sees $269M inflows, best day since early March
Regionally, positive sentiment was almost entirely concentrated in the US, which saw inflows of $1 billion, accounting for 95% of net weekly inflows. The majority of Bitcoin ETP inflows were driven by US spot BTC exchange-traded funds, which posted $786.3 million in inflows last week, according to SoSoValue data.
Germany recorded inflows of $34.6 million, while Canada and Switzerland saw more modest inflows of $7.8 million and $6.9 million, respectively.
Bitget, the world’s largest Universal Exchange (UEX), has introduced its UEX VIP Airdrop Season, a new tier of benefits designed to give VIP clients early and preferential access to high-demand pre-IPO opportunities following the launch of IPO Prime.
VIP users will receive priority exposure to preSPAX, the first asset listed under IPO Prime, designed to reflect the economic performance of SpaceX following its potential public listing. The program introduces two exclusive rounds of airdrops for VIP participants ahead of public subscription, allowing early positioning in one of the most closely watched private companies globally.
The promotion runs from April 13 to April 19, 2026, and is structured in two phases. The first phase, reserved for existing VIP users, features a dedicated airdrop pool of 760 preSPAX tokens. Eligible users can register within the initial window, with allocations distributed based on VIP tier across futures, spot, and asset categories. Airdrops for this phase are scheduled for April 16.
The second phase extends access to new participants through the VIP Fast Track program. Users who upgrade to VIP status during the campaign period will gain access to an additional 190 preSPAX token pool, with distribution taking place on April 20. Allocation is determined by VIP level at the close of the promotion, creating a direct link between user tier and access to the asset.
In total, the two phases represent a distribution of up to 950 preSPAX tokens, with combined value reaching approximately 500,000 USDT. In addition to early airdrop access, VIP users will receive enhanced subscription quotas once public participation opens.
“Access has always defined who participates in early-stage growth,” said Gracy Chen, CEO of Bitget.
“What is changing is how that access is being distributed. VIP users are no longer just receiving benefits within the platform, they are gaining earlier entry into opportunities that were traditionally out of reach.”
The launch reflects a broader shift in how access to high-growth assets is being structured. Opportunities linked to pre-IPO companies have traditionally been limited to institutional investors and closed networks. Through IPO Prime and the VIP Airdrop Season, Bitget is introducing a tier-based framework that expands participation while maintaining structured allocation.
Within Bitget’s Universal Exchange model, the VIP Airdrop Season represents an extension of how value is distributed across the ecosystem. By integrating pre-IPO exposure, tiered allocation, and continuous liquidity into a single environment, Bitget is redefining how high-value opportunities are accessed, moving beyond traditional boundaries between institutional and retail participation.
For more information, please visit here.
About Bitget
Bitget is the world’s largest Universal Exchange (UEX), serving over 125 million users and offering access to over 2M crypto tokens, 100+ tokenized stocks, ETFs, commodities, FX, and precious metals such as gold. The ecosystem is committed to helping users trade smarter with its AI agent, which co-pilots trade execution. Bitget is driving crypto adoption through strategic partnerships with LALIGA and MotoGP™. Aligned with its global impact strategy, Bitget has joined hands with UNICEF to support blockchain education for 1.1 million people by 2027. Bitget currently leads in the tokenized TradFi market, providing the industry’s lowest fees and highest liquidity across 150 regions worldwide.
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Risk Warning: Digital asset prices are subject to fluctuation and may experience significant volatility. Investors are advised to only allocate funds they can afford to lose. The value of any investment may be impacted, and there is a possibility that financial objectives may not be met, nor the principal investment recovered. Independent financial advice should always be sought, and personal financial experience and standing carefully considered. Past performance is not a reliable indicator of future results. Bitget accepts no liability for any potential losses incurred. Nothing contained herein should be construed as financial advice. For further information, please refer to our Terms of Use.
The post Bitget Unlocks Pre-IPO Access for VIPs appeared first on BeInCrypto.
Key Takeaways
- Bernstein maintains Outperform rating on Microsoft (MSFT) with $641 price target
- Shares have declined 27.5% in the past six months, hovering near the 52-week low of $370.87
- Analyst cites temporary Azure margin compression linked to timing mismatch between AI infrastructure investment and revenue generation
- Azure revenue growth projected to gain momentum in Q3 with sustained strength through Q4
- 34 of 37 Wall Street analysts rate MSFT a Buy, with consensus price target at $581.61
Microsoft shares have endured a punishing six-month stretch, shedding 27.5% of their value to reach $370.87. The stock now hovers dangerously close to its 52-week nadir. Yet Bernstein remains firmly in the bull camp.
Mark Moerdler, an analyst at Bernstein, has reaffirmed his Outperform rating alongside a $641 price objective on MSFT — representing potential upside exceeding 70% from current trading levels.
Bernstein’s thesis hinges on a critical timing mismatch. Microsoft has been aggressively investing in artificial intelligence infrastructure, a strategy that has spooked certain market participants. However, Moerdler contends the capital deployment isn’t the red flag many perceive.
The research firm’s analysis suggests that the majority of this capital expenditure flows into infrastructure capacity that begins producing revenue within a six-month window following deployment. This temporal gap between outlay and returns is creating unfavorable optics in the near term.
Bernstein dissected five potential allocation channels for Microsoft’s capital expenditures: proprietary applications, complimentary Copilot access, internal operations, lower-margin Azure AI revenue streams, and capacity awaiting activation. The firm’s findings paint a more constructive picture than current market sentiment reflects.
A substantial portion of investment is directed toward higher-margin business segments, especially Microsoft’s proprietary software and AI solutions. Copilot, in particular, is generating SaaS-quality AI revenue with healthy margins after transitioning to a paid subscription model.
Azure Margins Under Pressure — But Not Forever
Azure’s margin profile has experienced compression, a reality Bernstein openly acknowledges. The driving force, according to the firm, stems from nascent AI workloads carrying thinner margins compared to conventional cloud services.
As these workloads evolve and achieve scale, Bernstein anticipates margin improvement. The current pressure reflects Azure’s position within its AI expansion trajectory rather than indicating a fundamental flaw.
Research and development expenditure as a proportion of total revenue has remained essentially stable. Bernstein leverages this data point to demonstrate that Microsoft maintains capital discipline rather than spending recklessly.
Microsoft delivered 16.7% revenue expansion over the trailing twelve months. The stock currently trades at a P/E multiple of 23.26, accompanied by a PEG ratio of 0.8 — metrics that both Bernstein and InvestingPro characterize as undervalued relative to present price levels.
Azure Growth Expected to Pick Up in Second Half
Bernstein projects Azure growth acceleration commencing in Q3, with sustained positive momentum extending into Q4. This forecast directly correlates with previously funded capacity transitioning to active revenue-generating status.
Microsoft has simultaneously embarked on an initiative to develop proprietary large-scale AI models by 2027, positioning them as alternatives to solutions from OpenAI and Anthropic.
UBS recently reaffirmed a Buy rating on Chevron following announcement of a power generation partnership with Microsoft. The collaboration involves constructing natural gas facilities in Texas specifically designed to supply electricity to Microsoft’s AI data center infrastructure.
Across Wall Street, 34 of 37 analysts covering MSFT over the past three months assigned Buy ratings. The consensus price target stands at $581.61, suggesting 56% appreciation potential from present levels.
Billionaire Tron founder Justin Sun has demanded that Donald Trump-affiliated World Liberty Financial (WLFI) reveal who is running its X account after it threatened to take him to court.
WLFI made the threat this weekend during a heated back and forth with Sun, who invested $75 million into WLFI tokens last year.
Trump’s project has come under intense scrutiny after it deposited 3 billion of its WLFI tokens into lending protocol Dolomite in return for a $75 million loan in stablecoins. This was ahead of it unlocking 80% of its investors’ tokens, raising doubts about whether it’ll sell its positions before the unlock event.
Sun’s 544 million WLFI tokens, worth $119 million at the time, were frozen by the firm last September. They’re now worth roughly $43.5 million after WLFI’s price dropped to $0.08.
WLFI said Sun’s address was “suspected of misappropriation of other holders’ funds.” Sun downplayed these transactions.
However, he took to X on Saturday to “denounce the ongoing token scandals by the bad actors at WLFI.”
Read more: Justin Sun nears $10M deal to settle SEC’s Tron lawsuit
He said, “Every action taken by the WLFI team to extract fees from users, to secretly implant backdoor controls over user assets, to freeze investor funds without disclosure or due process, and to treat the crypto community as a personal ATM — all of these actions are illegitimate and were never authorized by any fair, transparent, or good-faith community governance process.”
In response, WLFI claimed on Sunday that Sun is “playing the victim while making baseless allegations to cover up his own misconduct.”
It said, “We have the contracts. We have the evidence. We have the truth,” before adding, “See you in court pal.”
Read more: Justin Sun clashes with World Liberty Financial over frozen WLFI
Now, Sun is calling for WLFI to reveal who is running the account and who owns the powers that facilitated the freezing of his token.
Specifically, he wants to know who blacklisted him acting as a “single guardian EOA,” and which individuals control the three-of-five multisig vote that can further seize his assets.
He said, “A project that claims to stand for decentralization and financial freedom cannot concentrate this level of power in a single anonymous address. If the WLFI team has nothing to hide, they should have no difficulty identifying who controls these keys.”
Across the same weekend as all this, the WLFI removed its team page that listed members of the Trump family as web3 ambassadors.
Sun’s Mar-a-Lago dinner might be awkward
Despite Sun’s attacks against WLFI, he still remains the top holder of Donald Trump’s memecoin and, in the process, holds the top spot for a luncheon with the president at his Mar-a-lago resort.
It’s not a one-to-one dinner however, and depending on the ongoing US/Israel war against Iran, there’s a chance Trump may skip it entirely to attend to more pressing matters.
Fortune also reports that his attendance isn’t confirmed, and that the White House correspondents’ dinner takes place on the same day and Trump is confirmed to attend.
Read more: Donald Trump is suing the New York Times for harming his memecoin
Sun participated in the Trump memecoin competition last year and held $19 million worth of the token. He’s top of the leaderboard for this year’s dinner with 2.2 billion “Trump points.” Assuming he’s using the same wallet address, he currently holds $9.3 million worth of Trump’s memecoin.
This year’s conference will feature Tether CEO Paolo Ardoino, Ark Invest’s Cathie Wood, UpBit founder Chi-Hyung Song, and even boxer Mike Tyson, as speakers at the event.
WLFI CEO wasn’t happy with viral criticism
Another X thread that criticised WLFI this weekend managed to stir up WLFI CEO, Zach Witkoff.
The thread posted by cybersecurity researcher Peter Girnus went over the various connections between the Trump family, its crypto firms, its partners, legal cases, presidential pardons, and the billions of dollars in play.
It also highlighted Sun’s own relation with the SEC. Girnus, while writing as if he were an ambassador to WLFI, said “Justin Sun invested $75 million. He was facing SEC fraud charges. The SEC dropped the case. He is now our advisor. These events are unrelated.”
Read more: ANALYSIS: Mapping Donald Trump’s growing crypto empire
He added, “The memecoin funds the family. The family funds the platform. The platform funds the stablecoin. The stablecoin funds the deals. The deals require the pardons. The pardons free the partners. The partners fund the platform. The president signs the executive orders. The executive orders inflate the assets. The assets fund the family. I am the reason these events are unrelated.”
Witkoff argued that Girnus misunderstands the facts, and claimed WLFI and Trump’s memecoin are unrelated. He also claimed that WLFI has “zero association” with the entities Fight Fight Fight LLC or CIC Digital LLC.
Girnus, however, pointed out the glaringly obvious aspect that Trump’s family is connected to both of these firms.
WLFI defends $75 million loan
The $75 million loan was one of the more recent factors that caused much of the discontent currently being voiced.
When the WLFI unlocks, it’ll likely push the price of the token further down. This loan gives WLFI a position to sell its tokens before the event, and avoid any price depreciation.
WLFI has rejected this notion outright. Spokesperson David Wachsman said on Friday, “It would be completely false to suggest that World Liberty is ‘exiting’ any positions: instead, we’re doubling down based on our roadmap.”
Read more: World Liberty investors clash over WLFI token unlocks
He said, “We are committed to sound risk management and continuously evaluate our positions and collateral structure, which is why we have already paid back 33%.” That’s $25 million repaid.
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Strategy has acquired 13,927 Bitcoin for approximately $1 billion, pushing its total holdings to 780,897 BTC and cementing its position as the largest corporate Bitcoin holder in the world.
The purchase was executed at an average price of $71,902 per bitcoin, according to an announcement by Executive Chairman Michael Saylor on X. As a result, the latest acquisition brings Strategy’s total Bitcoin investment to $59.02 billion, with a blended average purchase price of $75,577 per coin.
The company now holds approximately 3.8% of Bitcoin’s entire circulating supply. This concentration dwarfs any other publicly traded entity. By comparison, the next largest corporate holder, Twenty One Capital, holds just 43,514 BTC.
Strategy Bitcoin Holdings Need Just 2% Growth to Cover Dividends
Ahead of the purchase, Saylor disclosed a striking financial metric. Strategy’s Bitcoin holdings need to appreciate by just 2.05% annually to cover all preferred stock dividends indefinitely, without issuing new common shares.
“Our BTC Breakeven ARR is approximately 2.05%. If Bitcoin grows faster than that over time, we can cover our dividends indefinitely without issuing new MSTR shares,” Saylor stated.
The company’s dashboard shows approximately 48.7 years of dividend coverage at current reserve levels. This figure underscores the long term sustainability argument Saylor makes for the model. At 2.05%, the threshold sits far below Bitcoin’s historical annualized returns.
Strategy funds its Bitcoin purchases primarily through STRC, its Variable Rate Series A Perpetual Preferred Stock, which currently yields 11.5% annually. The instrument trades near its $100 par value and pays monthly cash dividends. Proceeds directly finance additional Bitcoin acquisitions.
Strategy Continues Buying Despite $14.5 Billion Unrealized Loss
The latest purchase comes despite significant financial headwinds. Strategy reported $14.5 billion in unrealized losses on its digital asset portfolio for Q1 2026. A roughly 20% decline in Bitcoin’s price pushed its value below the company’s average cost basis of $75,577.
Nevertheless, the firm also reported a BTC Yield of 5.6% year to date for 2026. This key performance metric measures the strategy’s effectiveness on a per-share basis.
The acquisition follows Saylor’s now familiar Sunday signal on X, where he posted “Think Bigger” alongside the company’s cumulative BTC purchase chart. This pattern has preceded every major Bitcoin acquisition since 2020 and historically signals a Monday 8K filing disclosing a new purchase.
Strategy Absorbs Three Times More BTC Than Miners Produce
Strategy has made over 105 Bitcoin purchases since beginning its accumulation strategy in August 2020. The company continues buying at a pace that far exceeds new supply.
In March 2026 alone, Strategy absorbed nearly three times the BTC that the entire global mining network produced. Miners generated approximately 16,200 BTC during the month. Strategy acquired 46,233 BTC in the same period.
Meanwhile, remaining at the market offering capacity across all share classes now totals over $57 billion. This provides ample firepower for continued accumulation.
Path to One Million Bitcoin
With this latest purchase, Strategy moves closer to the symbolic threshold of one million Bitcoin. Some analysts project the company could reach this milestone as early as November 2026 if current acquisition rates hold.
At a monthly investment rate of approximately $2.3 billion and BTC prices near current levels, the math supports the projection. However, continued access to capital markets remains essential.
The stock currently trades at approximately 1.10 times its net asset value. This means investors still pay a premium above the underlying Bitcoin holdings. Whether that premium holds depends on Bitcoin’s price trajectory and Strategy’s ability to continue raising capital through its various financing programs.
For now, Saylor’s message remains consistent: think bigger.
The post Strategy Buys $1 Billion in Bitcoin, Now Holds 780,897 BTC appeared first on BeInCrypto.
Crypto World
Viral BridgeBench Post Claims Claude Opus 4.6 Was ‘Nerfed,’ Critics Call It Bad Science
BridgeMind AI claimed Anthropic’s Claude Opus 4.6 was secretly degraded after a hallucination benchmark retest. The viral post has since drawn sharp criticism for flawed methodology.
The claim triggered widespread debate over whether AI companies are quietly downgrading paid models to reduce costs.
BridgeMind Claims a 98% Surge in Hallucinations
BridgeMind, the team behind the BridgeBench coding benchmark, posted that Claude Opus 4.6 had fallen from second to tenth place on its hallucination leaderboard. Accuracy reportedly dropped from 83.3% to 68.3%.
“CLAUDE OPUS 4.6 IS NERFED. BridgeBench just proved it. Last week Claude Opus 4.6 ranked #2 on the Hallucination benchmark with an accuracy of 83.3%. Today Claude Opus 4.6 was retested and it fell to #10 on the leaderboard with an accuracy of only 68.3%,” they wrote.
The post framed this as proof of “reduced reasoning levels.” However, a closer look at the underlying data tells a different story.
Critics Say the Comparison Is Fundamentally Flawed
According to computer scientist Paul Calcraft, the claim is “incredibly bad science,” highlighting a critical problem with the methodology.
“Incredibly bad science You tested Opus on 30 tasks today, previous score was on just *6* tasks Results for 6 tasks in common: 85.4% score today vs. 87.6% prevly. Swing is mostly from a *single* fabrication without repeats – easily statistical noise,” commented Calcraft.
The original high score came from just six benchmark tasks. The new retest expanded the benchmark to 30 tasks.
On the six overlapping tasks, performance was nearly identical, dropping only from 87.6% to 85.4%.
That small swing came mostly from a single extra fabrication in one task. With no repeated runs, this falls well within normal statistical variance for AI models.
Large language models are not deterministic, and one bad output on a small sample can shift results significantly.
Broader Frustrations Fuel the Narrative
Still, the post struck a nerve. Since its February 2026 launch, Claude Opus 4.6 has faced persistent complaints about perceived quality decline.
Developers report shorter responses, weaker instruction-following, and reduced reasoning depth during peak hours.
Some of this traces to deliberate product changes. Anthropic introduced adaptive thinking controls that let the model self-adjust its reasoning budget. The default effort level was later set to medium, prioritizing efficiency over maximum depth.
An independent analysis of over 6,800 Claude Code sessions found reasoning depth dropped roughly 67% by late February.
The model’s file-read ratio before editing code fell from 6.6 to 2.0. That suggests it attempted fixes on code it had barely reviewed.
What This Means for AI Users
This reflects a growing tension in the AI industry. Companies optimize models for cost and scale after launch, while heavy users expect consistent peak performance. The gap between those priorities erodes trust.
Based on the available evidence, the BridgeBench data does not prove a deliberate downgrade. The benchmark comparison was apples-to-oranges, and the overlapping results were nearly identical.
However, the underlying frustration is not entirely baseless. Adaptive compute controls and service-level optimizations have changed how Claude Opus 4.6 behaves in practice. For developers relying on consistent output, those changes matter.
Anthropic has not issued a public statement on the specific BridgeBench claims as of April 13.
The post Viral BridgeBench Post Claims Claude Opus 4.6 Was ‘Nerfed,’ Critics Call It Bad Science appeared first on BeInCrypto.
The attacker exploited a vulnerability in Polkadot interoperability protocol Hyperbridge, minting over ~$2 billion in DOT and other tokens, but was only successfully able to cash out about $237K.
Polkadot confirmed on Monday, April 13, that an exploit occurred on Hyperbridge’s Ethereum gateway contract. The Polkadot team stated that native DOT and the broader Polkadot ecosystem remain fully secure and unaffected by the incident.
Hyperbridge also confirmed the exploit in an X post this morning and said that it has paused bridging “while the team contains the issue.”
CertiK first flagged the exploit, reporting that the attacker had minted 1 billion DOT, worth about $1.17 billion at current prices, but only successfully cashed out about $237K.
Hyperbridgeis a cross-chain interoperability protocol built on Polkadot. The exploit was isolated to the Ethereum-side gateway contract and did not compromise the integrity of the Polkadot network itself, its parachains, and native DOT on Polkadot, per Polkadot’s X post.
According to a detailed report from on-chain analyst Verso, the attacker didn’t only target DOT, but was able to mint multiple other wrapped assets on Hyperbridge, including another approximately $1 billion in ARGN, as well as MANTA and CERE.
The incident comes just two weeks after Hyperbridge posted an April Fool’s joke announcement that it had been hacked ”We’ve been breached We’re working hard to fix this!’“ Today’s announcement of the actual protocol breach opened cheerily with “Bridge update!” prompting numerous comments calling out the project for irresponsible comms.
Sources: Polkadot, Hyperbridge
This article was generated automatically by The Defiant’s AI news system from publicly available sources.
Key takeaways
- BTC is down 1% in the last 24 hours and is now trading below $71,000.
- The ongoing geopolitical tensions and the inflation fears continue to weigh on market sentiments.
Bitcoin (BTC) is starting the week on shaky ground, hovering near the critical $70,700 support level on Monday. A decisive break below this zone could open the door to a broader correction.
Geopolitical tensions dent risk appetite
The primary catalyst behind the poor performance is the geopolitical tension between the United States and Iran.
Efforts to reach a resolution between the United States and Iran ended without progress, following talks in Pakistan that failed to produce a ceasefire agreement. US Vice President JD Vance described the proposal as a final offer, which Iran rejected, with state media citing excessive demands.
Furthermore, US President Donald Trump announced plans for a naval blockade of the Strait of Hormuz, threatening to disrupt a fragile ceasefire. At the same time, ongoing Israeli military activity in Lebanon has heightened fears of a wider regional escalation.
Macroeconomic pressures are also limiting Bitcoin’s upside. Fresh data from the US Bureau of Labor Statistics showed inflation accelerating sharply, with the Consumer Price Index rising 0.9% in March—its fastest monthly increase in four years. On an annual basis, inflation climbed to 3.3%, up from 2.4% in February.
The data has prompted investors to scale back expectations for Federal Reserve rate cuts, reinforcing a more hawkish outlook.
Despite the current market conditions, institutional demand provided a degree of support last week. Data from SoSoValue shows spot Bitcoin ETFs recorded inflows of $786.31 million, building on modest gains from the prior week.
If the institutional inflow increases, it could help stabilize prices and potentially drive a rebound in the near term.
Bitcoin price outlook: BTC approaches a crucial support level
The BTC/USD 4-hour chart is bearish and efficient as Bitcoin is approaching a crucial support level.
Bitcoin recently found support near its 200-week exponential moving average around $68,100 and posted a modest weekly gain. As of Monday, BTC is trading just above $70,700.
If bullish momentum builds, Bitcoin could target a move toward $74,500, which marks its 2025 yearly low. Indicators suggest early signs of stabilization, with the Relative Strength Index trending upward and the MACD signaling a bullish crossover on the weekly chart.
However, Bitcoin continues to face resistance from key moving averages, including the 50-day, 100-day, and 200-day levels.
If the daily candle closes above the 50-day EMA near $70,700, it could open the path toward $72,500 and beyond.
On the downside, failure to hold this level could see BTC slide toward the $65,800 support zone.
Key takeaways
- PI is down 2.3% and is now trading below $0.1700.
- Investor confidence is declining as CEXs record roughly 2 million PI tokens in inflows over the past 24 hours, suggesting a near-term sell-off.
Pi Network (PI) is trading below the $0.1700 mark on Monday, extending its gradual decline as the token remains stuck in a consolidation phase.
Recent data shows that centralized exchanges (CEXs) received close to 2 million PI tokens over the past 24 hours, pointing to rising sell-side activity amid a broader risk-off tone across the cryptocurrency market.
Selling pressure persists amid geopolitical tensions
Pi Network continues to face downward pressure, mirroring wider market caution triggered by failed peace negotiations between the United States and Iran in Pakistan. The breakdown in talks has escalated tensions, with the US initiating a blockade of maritime traffic through the Strait of Hormuz—further dampening investor risk appetite.
Data obtained from PiScan shows that 1.92 million PI tokens were transferred to CEXs within 24 hours, suggesting that KYC-verified mainnet users may be reducing their holdings and adding to the ongoing sell-off.
Currently, investors within the ecosystem are shifting their attention to the upcoming Consensus 2026 event, hosted by CoinDesk from May 5–7. Pi Network co-founder Chengdiao Fan is scheduled to speak on May 6 on the topic of integrating Web3, AI, and blockchain for real-world utility.
The event, with Fan speaking, could trigger a “buy the hype, sell the news” dynamic—potentially fueling a short-term rally ahead of the event, followed by renewed selling pressure.
PI could experience further selling pressure
The PI/USD 4-hour chart is bearish and efficient as the token is trading below both the 50-day and 100-day Exponential Moving Averages (EMAs), currently positioned around $0.1800 and $0.1898, respectively.
Momentum indicators reinforce the bearish outlook. The Relative Strength Index (RSI) sits near 44, below the neutral midpoint, indicating sustained bearish momentum.
Meanwhile, the Moving Average Convergence Divergence (MACD) shows slightly negative histogram bars, suggesting that downside pressure remains in play.
On the downside, immediate support lies at $0.1556, the February 23 low. A break below this level could open the door to further declines within the current bearish structure.
However, if the bulls regain control, a move above the 50-day EMA at $0.1800 would be the first sign of recovery. A daily candle close above this level would allow PI to reclaim the 100-day EMA near $0.1898.
Key Highlights
- Workforce reductions implemented as Starknet experiences over 99% revenue decline
- Company pivots toward direct product development following revenue collapse
- Organizational restructuring aims to accelerate revenue recovery efforts
- New business units established to drive growth after dramatic decline
- Strategic shift underway as Starknet income experiences sharp contraction
StarkWare has implemented workforce reductions and initiated a comprehensive organizational restructuring following a dramatic decline in Starknet revenue that has significantly impacted the company’s growth trajectory. The blockchain infrastructure provider is now pivoting its strategic focus toward proprietary product development to stabilize revenue streams and broaden its market applications. The company’s objective centers on transforming its technological capabilities into sustainable revenue channels and consistent market demand.
New Organizational Framework Emphasizes Revenue Generation
StarkWare has unveiled a reorganized operational framework that separates its business into two distinct units designed for improved efficiency. This strategic reorganization supports the company’s broader objective of streamlining operations and achieving faster product-market fit. The workforce reduction enables StarkWare to function with a more agile and cost-effective organizational structure.
The revised structure features a commercial applications division operating alongside a dedicated Starknet infrastructure development team. This organizational separation enables StarkWare to distinguish between foundational technology advancement and revenue-focused product delivery. Consequently, different teams can concentrate specifically on generating income while pursuing targeted technological innovation.
Executive realignment accompanies this structural transformation as StarkWare redistributes leadership responsibilities across expanded portfolios. The chief financial officer now manages additional operational areas including cybersecurity, information technology, and workforce management. Engineering leadership has transitioned toward architectural strategy to reinforce fundamental technology direction and vision.
Dramatic Starknet Revenue Decline Triggers Strategic Realignment
StarkWare has confronted a severe contraction in Starknet revenue, experiencing a decline exceeding 99% from peak performance levels. Monthly revenue previously approached nearly $6 million but has contracted to approximately $48,000 as of April 2026. The company must fundamentally restructure its business model to compensate for diminished fee revenue across Layer 2 scaling solutions.
This revenue contraction reflects widespread industry transformations following Ethereum’s implementation of the EIP-4844 upgrade, which significantly reduced transaction fee structures. Reduced fee environments have constrained revenue potential for rollup solution providers like StarkWare. Despite revenue challenges, total value locked within Starknet maintains levels above $200 million, demonstrating ongoing network utilization and engagement.
StarkWare’s strategic focus is transitioning away from infrastructure scaling toward developing applications capable of generating direct revenue. The company intends to decrease dependence on external blockchain ecosystems while increasing proprietary product ownership. StarkWare’s goal involves capturing economic value across its complete technology infrastructure.
Proprietary Product Development and Full-Stack Control
StarkWare intends to develop products built entirely on its proprietary zero-knowledge proof technology infrastructure. The company will maintain complete control over critical components including Cairo, Sierra, and its STARK-based cryptographic frameworks. This comprehensive ownership strategy enables StarkWare to minimize reliance on external Layer 1 blockchain networks.
The applications division will create revenue-generating tools specifically designed to produce quantifiable income within StarkWare’s ecosystem. Leadership anticipates these products will exploit distinctive technical capabilities unavailable to competitive development teams. StarkWare aims to establish market differentiation through specialized and premium-value applications.
Ongoing research initiatives further demonstrate StarkWare’s commitment to advanced cryptographic technologies and forward-looking architectural designs. Internal development focused on quantum-resistant transaction protocols indicates the company’s long-term technical roadmap. Through this approach, StarkWare positions itself for competitive advantage through innovation while simultaneously reconstructing revenue fundamentals.
Foundry Digital, the largest Bitcoin mining pool by hashrate, launched a Zcash (ZEC) mining pool that quickly grew to control about 30% of the network’s hashrate, according to company data and its newly released block explorer.
The New York-based firm said multiple institutional miners joined the pool ahead of its public debut, following an initial announcement in March.
Alongside the pool, Foundry introduced Zcashinfo.com, a block explorer that tracks network activity. The site shows pool rankings, hashrate distribution, block data and mining difficulty in real time.
Zcash, launched in 2016, lets users send transactions on a public blockchain while keeping key details private through zero-knowledge proof technology. The network can verify that a transaction is valid without revealing the sender, receiver or amount involved using a cryptographic method known as zk-SNARKs.
The network, like Bitcoin, relies on proof-of-work mining, where specialized machines compete to solve cryptographic puzzles in exchange for rewards paid in newly issued ZEC tokens and transaction fees.
Blocks on Zcash are produced roughly every 75 seconds, far faster than Bitcoin’s 10-minute cycle, though both networks cap supply at 21 million coins. Zcash uses the Equihash algorithm, which is designed to require large amounts of memory, unlike Bitcoin’s SHA-256 system.
Because the odds of solving a block alone are low, miners often group into pools to combine computing power and share rewards. That structure has made large pools central to network performance, as they can control sizable portions of total hashrate.
Foundry’s pool distributes rewards through transparent addresses and uses a pay-per-last-N-shares (PPLNS) model, which tracks miner contributions over time to calculate payouts.
The pool is open to new institutional participants, with onboarding focused on regulated entities.
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