• RaveDAO token plunged 95% from $26 to under $1.
• RAVE launched in December 2025 on Binance Alpha.
• ZachXBT’s on-chain analysis also highlights MemeCore, River and MYX among questionable projects.

RaveDAO (RAVE) has plunged below $1, erasing more than 95% of its earlier rally to an all-time high of $26.

The sharp decline follows an investigation by blockchain analyst ZachXBT, which alleged clear signs of price manipulation.

The findings have raised broader concerns about potential insider-driven schemes affecting multiple tokens listed on centralised exchanges, contributing to selling pressure across the segment.

RaveDAO token dumps amid ZachXBT’s explosive allegations

ZachXBT, a pseudonymous investigator celebrated for dismantling multimillion-dollar crypto frauds, took to X on April 18, 2026, to dissect RAVE’s suspicious trajectory.

He pinpointed concentrated wallet activity controlling the token’s liquidity, engineering artificial pumps to trap retail buyers before orchestrated dumps.

“RAVE launched in Dec 2025 on Binance Alpha with a 1B total supply. The addresses below, linked to the initial distribution, control ~95% of the RAVE supply,” the on-chain sleuth posted.

Labelling it a textbook “pump-and-dump,” ZachXBT offered a $25,000 bounty for transaction proofs, urging platforms like Binance, Bitget, and Gate.io to launch probes.

He notes that the exchanges acknowledged his call, a move that could mirror past successes in securing refunds and bans.

Yet ZachXBT questioned why CEXs have waited for his call to acknowledge potential manipulation.

“While it’s good the exchanges responded, I find it unlikely this activity wasn’t spotted internally before I raised it publicly.”

RAVE’s price carnage unfolded mercilessly, plummeting from $26 to under $1 within 24 hours, with trading volume surging amid mass liquidations.

Billions of dollars in market cap vaporised, leaving holders stunned. The declines saw the token’s value drop to lows of $0.50, where it hovered as of writing on April 20, 2026.

Update: Three hours ago multisig 0x53d7 linked to the RAVE initial distribution which I flagged above sent ~23M RAVE ($23M) to two Bitget deposit addresses and the price dropped 40% from $1 to $0.6.

Deposit addresses
0x26aC542f5a04D574580881723224DAcD1EDB9B45… pic.twitter.com/Qi1asiFWsB

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— ZachXBT (@zachxbt) April 19, 2026

ZachXBT also hits other tokens

The potential price manipulation extends to similar tokens.

“RAVE is not the only token with manipulation we have seen on major centralized exchanges,” he posted.

“It’s just the most blatant, reaching a top 15 market cap within 10 days before dropping 95% in hours. Other projects with highly questionable price action recently include: SIREN, MYX, COAI, M, PIPPIN, RIVER.”

According to ZachXBT, all projects have exhibited “highly questionable price action” and supply dominance by the team.

MemeCore, RIVER and PIPPIN prices echoed the Rave token bleed, dumping double digits to erase recent gains.

Some retail traders commented on ZachXBT’s post, noting this could be an opportunity to short. His response:

I do not recommend shorting manipulated tokens with a high insider concentration.

— ZachXBT (@zachxbt) April 20, 2026

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Data on CoinMarketCap showed M, River and Siren were down 7-9% in the past 24 hours as of writing.

Bitcoin price briefly fell below $74,000 on Monday as fading prospects of U.S. Iran peace talks and escalating tensions in the Strait of Hormuz weighed on sentiment.

According to reports, Iranian sources recently said that Iran will not show up for the peace negotiations with the U.S. that were set to be held in Islamabad today. This comes after the nation promised to retaliate against the U.S. for intercepting and seizing one of its cargo ships in the Strait of Hormuz.

The heightened volatility in the surrounding Gulf region after the war began had left markets on edge, with economists expressing concerns of a global recession if supply lines remained blocked.

Shortly following the U.S. intervention on the ship, Iran responded with its own offensive strategy, attacking U.S. military ships with drones and ballistic missiles.

The tensions between the two nations flared up earlier in the weekend. On Friday, Iran reopened the Strait of Hormuz amid its stated commitment to de-escalate. However, Tehran decided to close it again just hours later as the U.S. continued to maintain the naval blockade. 

While the U.S. later announced that both parties would attend peace negotiations on Monday, Iran has refuted these claims entirely. Earlier, Iran had also dismissed Trump’s suggestion that it would give up on its uranium enrichment plan as part of any future deal.

Crude oil price, which fell earlier due to expectations of peace discussions between the nations and reopening of the strait, surged significantly following the recent breakdown in communication. Notably, West Texas Intermediate crude oil rose 6.7% to nearly $90 while Brent crude rose 6% to above $95 again.

Since crypto markets operate around the clock, they reacted immediately to the latest geopolitical developments over the weekend, with prices largely trending lower.

Bitcoin (BTC) had rallied to $78,400 on Friday, but the move was swiftly rejected, with the price slipping below $74,000 as hostilities resumed. At press time, the bellwether asset was trading just under the $75,000 level.

Further price swings may lie ahead as the ceasefire deadline passes without any clear extension. Overnight attacks have added to the uncertainty, while the absence of any concrete peace negotiations continues to weigh on market sentiment. Traders are now bracing for continued volatility as geopolitical risks remain elevated.

As such, if Bitcoin sharply falls below $74,000 again, it could slide further to $72,000, which acts as a major support level. Failure below the $72,000 mark might invite a broader selloff toward the $68,000 zone. On the other hand, if Bitcoin stabilizes over $76,000, it could embolden bulls to target a return to the $80,000 psychological threshold.

Key Points

• The Chinese technology firm Huawei has entered a strategic partnership with Vietnam’s SHB bank this past weekend
• The collaboration encompasses technology infrastructure design and comprehensive data platform construction
• Security and operational stability for banking systems form core components of the agreement
• This partnership joins existing Huawei collaborations with SCB, SeABank, and Home Credit across Vietnam
• Huawei secured major contracts in 2024 for Vietnam’s 5G infrastructure development

The Chinese technology conglomerate Huawei Technologies Group has formalized a strategic partnership with SHB, a prominent Vietnamese banking institution, signaling the company’s accelerating expansion throughout Vietnam’s financial landscape.

SHB publicly disclosed the partnership on Sunday. According to the arrangement, Huawei will provide expertise in crafting the bank’s technological framework and establishing robust data infrastructure. The agreement additionally ensures that SHB’s operational systems maintain consistent reliability and comprehensive security.

“The cooperation with SHB is an important milestone in the group’s market expansion in Vietnam,” said Spawn Fan, a senior Huawei executive, in the bank’s statement.

This isn’t Huawei’s inaugural venture into Vietnam’s banking industry. The technology powerhouse maintains established partnerships with multiple financial institutions including SCB, SeABank, and Home Credit, spanning initiatives in digital transformation, security protocols, data intelligence, cloud infrastructure, and banking platform optimization.

Strategic Expansion in Southeast Asia

The newly announced SHB collaboration strengthens Huawei’s increasingly substantial position within one of Southeast Asia’s most dynamic and rapidly expanding markets. Vietnamese financial institutions have aggressively prioritized digital infrastructure modernization, creating opportunities that Huawei has strategically pursued.

Huawei’s expanding influence in Vietnam represents a significant shift from previous policy positions. Until quite recently, Vietnamese authorities maintained strict restrictions preventing Chinese corporations from participating in the nation’s 5G telecommunications infrastructure.

This policy underwent a dramatic reversal in 2024 when Huawei successfully secured multiple contracts to develop significant portions of Vietnam’s 5G network. The current SHB partnership reflects a continuation of this evolving relationship — demonstrating strengthening connections between Vietnamese organizations and Huawei spanning both telecommunications and financial technology sectors.

Partnership Scope and Implementation

SHB ranks among Vietnam’s most significant privately-owned commercial banking institutions. The comprehensive partnership with Huawei encompasses multiple critical domains: architectural design for technology infrastructure, comprehensive data platform construction, and continuous operational assistance ensuring system stability and security.

These initiatives represent substantial commitments. Constructing data platforms and architectural frameworks for commercial banking operations requires extensive integration with fundamental banking technology systems.

According to statements from the Vietnam Banks Association, Huawei’s activities throughout Vietnam’s financial industry concentrate on digital transformation initiatives, cybersecurity enhancement, advanced data analytics, cloud computing solutions, and banking operational efficiency — capabilities that align directly with the SHB partnership framework.

The 5G infrastructure contracts Huawei won in 2024 marked a fundamental policy transformation from Vietnamese government authorities. This strategic pivot created pathways for expanded collaboration, with the SHB agreement representing one of the most substantial manifestations of this revised approach.

Spawn Fan, the Huawei representative referenced in SHB’s official announcement, characterized the partnership as a significant achievement — not solely for SHB’s technological advancement, but for Huawei’s comprehensive Vietnam market strategy.

The Vietnam Banks Association has verified that Huawei’s current financial sector engagements include SCB, SeABank, and Home Credit, with the SHB partnership now expanding that portfolio.

Strategy co-founder Michael Saylor has stoked expectations of another large Bitcoin purchase just days after Strategy disclosed a roughly $1 billion buy in mid-April. The company revealed that between April 6 and 12 it acquired 13,927 BTC for about $1 billion, at an average price of $71,902 per coin. In a sign that Saylor may be signaling more activity, he posted on X with the message Think Even ₿igger, accompanied by a chart of Strategy’s purchase history—a pattern he has used in the past to hint at forthcoming buys, according to coverage of the episode.

In the same period, Strategy’s leadership publicly discussed a broader capital management move: paying its dividend more frequently, with a plan to double the cadence to semi-monthly payments. The intention, said Strategy CEO Phong Le, is to stabilize the STRC price, dampen cyclicality, improve liquidity, and expand demand for the stock. The stance comes as Strategy has prepared a preliminary proxy filing with the U.S. Securities and Exchange Commission; the definitive proxy is expected on April 28, with shareholder voting running through June 8 and potential implementation slated for mid-July if approved.

Key takeaways

• Strategy hints at another Bitcoin purchase after disclosing a $1 billion acquisition of 13,927 BTC in early April, with Saylor signaling via a post comparing Strategy’s past buys.
• The company is proposing to shift STRC dividend payments to a semi-monthly schedule (twice a month, on the 15th and month-end), aiming for 24 payments a year at an 11.5% yield.
• The move to semi-monthly dividends is framed as a way to stabilize price and liquidity, with Strategy describing it as a unique approach among preferred equities.
• Strategy holds the largest Bitcoin treasury among publicly traded companies, with 780,897 BTC worth about $58.2 billion, according to Bitbo data, and it has a habit of recurring weekly purchases.
• Despite the Bitcoin buys, the company reports significant unrealized losses on digital assets, totaling about $14.46 billion in its first-quarter results.

Strategy’s latest Bitcoin move and the social signal

The disclosed purchase of 13,927 BTC for roughly $1 billion occurred over a one-week window in April, at an average price near $71,902 per coin. The social signal accompanying the filing—Saylor’s “Think Even ₿igger” post with a chart of Strategy’s purchase history—has historically coincided with additional buying or hints of future transactions, a pattern analysts monitor as a potential short-term predictor of capital deployment. The development sits within a broader narrative of corporate Bitcoin treasury management where large hodlers weigh ongoing accretion against volatility and capital allocation priorities.

Dividend plan to stabilize price and liquidity

Le framed the dividend proposal as a mechanism to reduce price volatility and encourage steady demand for STRC. If approved, Strategy would pay semi-monthly dividends on the 15th and the last day of each month, totaling 24 payments per year at the current rate of 11.5%. Le noted that this cadence would position STRC as a highly distinctive instrument in the market, and the company has worked through multiple iterations to reach a viable schedule that accommodates NASDAQ’s rules on record and payment dates. Nasdaq-listed STRC would still need to comply with minimum gaps between record and payment dates—an issue the company acknowledged as an operational constraint.

The plan was detailed in an investor presentation linked to the proxy materials, with the preliminary filing submitted to the SEC and a definitive filing expected by April 28. If shareholders approve the proposal, the new semi-monthly schedule would take effect mid-July, subject to the usual regulatory and procedural approvals.

BTC treasury size, market backdrop, and investor reaction

Strategy’s balance sheet remains anchored in Bitcoin, with the company holding 780,897 BTC, the largest stash among publicly traded firms. Bitbo’s data places Strategy’s BTC holdings at approximately $58.2 billion in value, underscoring the scale of its treasury position. The stock market reaction to the ongoing program has been nuanced: Strategy’s shares (MSTR) rose by about 11.8% on a recent session to around $166.50, though they remain down roughly 47% over the past year. The dynamic underscores a complex investor calculus: large-scale BTC exposure paired with sensitive equity pricing and the potential impact of dividend policy changes.

On the accounting side, Strategy reported substantial unrealized losses on its digital asset holdings for the first quarter, tallying about $14.46 billion. The disclosures reflect the market’s swing in BTC prices and the accounting treatment for crypto holdings at scale, contributing to a broader conversation about risk management and liquidity needs for corporate treasuries tied to digital assets.

What to watch next

Investors will be keeping a close eye on the proxy process and whether the semi-monthly dividend plan gains shareholder approval. The timing of the next BTC purchase remains uncertain, but the social signaling by Saylor adds an element of anticipation around Strategy’s treasury strategy. As regulators and markets continue to refine frameworks for corporate crypto holdings and investor protections, Strategy’s moves could serve as a barometer for how publicly traded companies balance growth, income, and risk in a volatile asset class.

Sources and context for these developments were reported in coverage detailing Strategy’s recent Bitcoin purchases, the proposed dividend schedule, and the company’s regulatory filings. For reference, strategic data on Strategy’s Bitcoin holdings is tracked by market trackers such as Bitbo, and the proxy filing timeline aligns with the SEC’s typical review and voting windows.

Traditional banks could see their market dominance challenged by the rise of stablecoins and tokenized real-world assets as these digital currencies move beyond their current niche uses.

Moody’s Investors Service Digital Economy Group associate vice president Abhi Srivastava told crypto media that stablecoin use remains “limited” for now, even though the sector’s market capitalization climbed past $300 billion by the end of last year. 

While the role of these assets in cross-border commerce and on-chain finance is expanding, the existing US payment landscape is currently fast and trusted enough to keep disruption at bay. 

Srivastava observed that “for the banking sector, at this stage, disruption risk appears limited,” largely because US rules prevent stablecoins from paying yield to holders.

According to him, domestic deposits are unlikely to be replaced at scale while these yield restrictions remain in place. However, long-term growth in stablecoins and tokenized RWAs—physical or financial assets represented by blockchain tokens—could eventually trigger deposit outflows. 

Such a trend would reduce the lending capacity of traditional banks by placing “pressure” on their core business models, he added.

Legislative gridlock over yield and oversight

Regulatory policy regarding stablecoins has turned into a major point of contention between the crypto industry and the banking sector. The primary concern centers on yield-bearing stablecoins, which banks fear will directly compete for their customers.

This specific issue has become a major stumbling block for the Digital Asset Market Clarity Act of 2025, or the CLARITY Act.

The Digital Asset Market Clarity Act of 2025, or the CLARITY Act, has hit a wall in Congress as lawmakers struggle to balance the interests of the crypto industry with those of the bank lobby. The framework was designed to set clear rules for asset classification and regulatory oversight, but it stalled after major players like Coinbase voiced opposition to specific provisions.

The ban on yield-bearing stablecoins and a lack of legal safeguards for open-source developers remain the primary points of contention. 

Banks have lobbied heavily against allowing stablecoins to offer interest, fearing such a move would trigger massive deposit outflows and sap their ability to provide loans. Srivastava warned that over time, the growth of tokenized RWAs—physical assets represented on a blockchain—could place significant “pressure” on traditional financial institutions.

Senator Thom Tillis of North Carolina recently signaled plans to introduce a compromise draft to bridge the gap between crypto firms and traditional banks. However, this updated proposal has already faced resistance and remains unreleased to the public. 

Key Takeaways

• A security breach affecting KelpDAO’s rsETH product on April 20 created cascading effects throughout Solana’s DeFi infrastructure
• Stablecoin lending platforms across the network have experienced dramatic spikes in utilization metrics
• Jupiter Lend currently shows 99% utilization with only $81 million remaining from its $421 million USDC reserves
• Both Kamino and Marginfi face severe liquidity constraints as borrowing rates exceed 8%
• The available capital for lending across Solana’s ecosystem has reached critically low levels

A security incident targeting KelpDAO’s rsETH infrastructure on April 20, 2026, has triggered widespread disruption across the Solana blockchain’s decentralized finance landscape.

The repercussions materialized quickly. Capital started evacuating from DeFi applications, creating a squeeze on stablecoin availability throughout Solana’s lending infrastructure. Multiple prominent platforms now operate with minimal reserves remaining.

Jupiter Lend faces particularly acute pressure. The protocol manages $421 million in total USDC deposits, of which $340 million has been distributed to borrowers. When factoring in mandatory reserve requirements, the platform operates at approximately 99% capacity. Current annual percentage yields for lenders stand at 4.36%.

Kamino Prime Market experiences similar stress conditions. Data indicates total USDC deposits of roughly $186.8 million against outstanding loans of $178.8 million. This configuration produces utilization approaching 96%, while lending yields have climbed to 8.92%.

Kamino’s Main Market exhibits comparable dynamics. The platform holds approximately $172 million in USDC deposits supporting $164 million in active loans. Utilization metrics hover around 95.75%, with lending returns reaching 10.2%.

Secondary Platforms Experience Significant Pressure

Marginfi data reveals USDC lending utilization at 88.32%, accompanied by lending yields of 7.65%. Save Finance, the rebranded iteration of Solend, has witnessed utilization climb beyond 70%, with corresponding lending rates at 3.9%.

These metrics demonstrate that liquidity stress extends well beyond flagship platforms. The pressure has permeated Solana’s entire lending infrastructure.

Elevated utilization percentages indicate extremely limited USDC availability for new borrowers. Users requiring access to capital face restricted options alongside escalating costs.

The constricted market conditions have additionally impacted derivative markets tracking Solana’s token valuation. Prediction markets estimating Solana above $150 during the April 13–19 window show only 0.4% probability on the affirmative side. These markets lack actual USDC trading volume, undermining their credibility as price signals.

Market Data Reveals Investor Sentiment

For April 16, certain prediction markets price Solana exceeding $100 at 100% certainty. However, with zero verifiable transaction volume supporting this figure, the indicator provides minimal analytical value.

Affirmative position shares betting on Solana reaching $150 by mid-April trade at merely 0.4 cents while offering $1 payouts upon correct resolution. This potential 250x multiplier underscores profound market doubt regarding imminent price appreciation.

The liquidity impact stemming from the KelpDAO security incident remains unresolved. Borrowing costs continue their upward trajectory as utilization persists at heightened levels throughout Solana’s primary lending protocols.

As of April 20, Kamino’s Main Market lending yield of 10.2% represents the peak rate documented among impacted platforms.

Strategy co-founder Michael Saylor has hinted at another large Bitcoin purchase, just a week after the company disclosed that it bought around $1 billion of Bitcoin in the second week of April. 

Strategy disclosed last Monday that it acquired 13,927 Bitcoin for $1 billion between April 6 and 12, at an average price of $71,902 per coin, posting “Think ₿igger” the day before the filing. 

However, Saylor posted “Think Even ₿igger” on X on Sunday along with a chart of Strategy’s purchase history, something he has historically done to hint at another purchase announcement. 

It comes just days after the Bitcoin treasury company proposed to increase the frequency of dividend payments to stockholders in the hopes of stabilizing the price and growing demand.

In a video presentation to shareholders shared by Saylor on Friday, Strategy CEO Phong Le said the company hopes to pay dividends twice a month — on the 15th and again at the end of each month — for a total of 24 a year at the current rate of 11.5%.

“What do we think this will do, it should stabilize the price, dampen cyclicality, drive further liquidity and grow demand,” Le said.

A preliminary proxy filing was sent to the US Securities and Exchange Commission on Friday. The definitive proxy filing is expected on April 28, when voting opens to approve or reject the measure. Voting closes on June 8 at the annual shareholder meeting, with the new schedule expected to start mid-July if approved.

Strategy is proposing to pay semi-monthly dividends on $STRC, instead of monthly. No change to the annual dividend obligations or dividend rate. These proposed changes are intended to stabilize price, dampen cyclicality, drive liquidity, and grow demand. pic.twitter.com/jHFRaDz6oP

— Michael Saylor (@saylor) April 17, 2026

Demand plunging after dividend dates, said Le

Le said one of the main reasons for the proposed change was to address a drop in demand after investors were no longer eligible for the upcoming dividend, which cooled buying activity and slowed the pace of new share sales.

“If we were to move forward with paying STRC to semi-monthly, we would be in category 1, the only preferred in the world that pays semi-monthly dividends. We think this is unique and this is attractive,” he added.

The company went through dozens of iterations before settling on the semi-monthly schedule and had considered weekly and even daily dividend record dates. The NASDAQ stock exchange, which lists Strategy’s stock, follows industry rules requiring a minimum gap of ten days between the record date and the payment date, according to Le.

Related: Strategy’s Michael Saylor signals impending Bitcoin purchase

Strategy has the largest Bitcoin (BTC) stash among publicly traded companies with 780,897 coins, worth $58.2 billion, according to Bitbo. It’s also one of the most frequent buyers with regular weekly purchases.

The company’s stock (MSTR) jumped 11.8% on Friday to $166.52. It’s still down more than 47% over the past year, according to Google Finance.  

Strategy’s Bitcoin buying comes despite the company sitting on significant unrealized losses on its holdings. Earlier this month, Strategy reported in its first-quarter financial results that its unrealized losses on digital assets amounted to $14.46 billion.

Magazine: Will the CLARITY Act be good — or bad — for DeFi?