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HBAR and XLM Lead Index

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HBAR and XLM Lead Index

HBAR price prediction improved Friday as Hedera gained 1.4% and Stellar’s XLM added 1.5% to top the CoinDesk 20 performance update, placing the index at 2,125.52, up 0.3% from Thursday’s close, with just 9 of 20 assets trading higher as Bitcoin approached the $76,000 resistance level that has capped every major rally attempt in 2026.

Summary

  • Laggards included Near Protocol at -2.3% and Polkadot at -1.6%, reflecting the selective nature of Friday’s session as capital rotated toward payment-layer and enterprise-backed tokens rather than broad altcoin names.
  • HBAR’s 24-hour trading volume surged 57.6% to over $103 million, a signal of directional positioning ahead of the April 22 Iran ceasefire deadline that has driven selective rotation toward utility networks with institutional governance backing.
  • Stellar’s Protocol 26 “Yardstick” testnet launched April 16, with a mainnet governance vote scheduled for May 6, while LOBSTR Wallet added XRP Ledger support for 1.5 million users the same day, deepening cross-chain utility between two payment-focused ecosystems.

HBAR price prediction improved Friday as both tokens outperformed the CoinDesk 20’s 0.3% gain by a wide margin, with Hedera rising 1.4% and Stellar 1.5% against an index that saw 11 of 20 assets move flat or lower. Bitcoin’s push toward $76,000 drove selective altcoin rotation, and both HBAR and XLM carry the profile that tends to lead early in such moves — payment-layer infrastructure with institutional governance and regulatory credibility.

Near Protocol fell 2.3% as the session’s worst performer, and Polkadot dropped 1.6%. General-purpose Layer-1 networks with slower development cadences underperformed, while tokens with specific near-term catalysts and enterprise backing attracted the session’s marginal buying.

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Hedera’s volume surge to $103 million — up 57.6% on the day — signals targeted positioning rather than passive drift alongside BTC. Several catalysts have built in the ecosystem since March. McLaren Racing joined the Hedera Governing Council in March 2026 as a full voting member, committing to digital collectibles programs across the F1 and IndyCar seasons and giving the network access to a global sports audience.

The Canary Capital HBAR ETF, trading on Nasdaq under the ticker HBR since October 28, 2025, accumulated $93.21 million in cumulative ETF inflows by early 2026, making HBAR the third cryptocurrency to achieve US spot ETF status. Hedera’s governing council includes Google, IBM, Boeing, NVIDIA, and ServiceNow. The network has processed over $10 billion in real-world asset settlements including tokenized bonds and cross-border payments, giving it a fundamental utility base that most mid-cap altcoins lack.

Analyst JAVON MARKS noted this week that a falling wedge breakout pattern forming across altcoin charts is “starting to look familiar to past cycles,” writing: “This looks like the beginning stages of a 2026 alt-season.” Payment-layer and enterprise-governance tokens with institutional backing tend to lead early rotation before broader index participation catches up.

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What Drove XLM Higher

Stellar’s move comes off three back-to-back catalysts in five days. Protocol 26 “Yardstick” launched on testnet April 16, introducing benchmarking tools and improved host functions designed to enhance network performance and developer capabilities, with a mainnet governance vote scheduled for May 6. LOBSTR Wallet, serving over 1.5 million users, added XRP Ledger support the same day, enabling Stellar users to manage XRP, RLUSD, and XLM in a single interface.

On April 13, Stellar integrated the EURAU stablecoin, a MiCAR-compliant euro-denominated instrument that extends the network’s reach into European institutional settlement, a market where Hedera has also been expanding through Archax’s tokenized UK gilt integrations.

What to Watch Before April 22

Both tokens remain directionally tied to Bitcoin and the macro calendar. The April 22 Iran ceasefire expiry is the nearest binary. A credible extension maintains the risk-on environment that is driving altcoin rotation; a breakdown would likely push HBAR and XLM toward their 2026 trading lows. NEAR Protocol’s 2.3% decline Thursday may reflect early positioning for a more cautious outcome. Any BTC daily close above $76,000 would be the clearest short-term bullish signal for broader altcoin follow-through.

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ICE Agent Faces Felony Charges in Minnesota

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ICE shoots man in California stop

An ICE agent charged 2026 with two counts of felony second-degree assault faces a nationwide arrest warrant after allegedly pointing his duty weapon at the heads of two civilians in a moving vehicle during the Trump administration’s Operation Metro Surge, Hennepin County Attorney Mary Moriarty announced Thursday.

Summary

  • Gregory Donnell Morgan Jr., 35, a Maryland resident and ICE Enforcement and Removal officer, allegedly pulled alongside a civilian vehicle on a Minneapolis highway shoulder on February 5 and pointed his weapon directly at the driver and passenger.
  • This is the first criminal case against a federal immigration officer stemming from Operation Metro Surge, which deployed approximately 3,000 federal agents to the Minneapolis-St. Paul area and was linked to the fatal shootings of two US citizens.
  • Moriarty said Morgan acted “well beyond the scope” of federal authority and that “there is no such thing as absolute immunity for federal agents who violate the law in the state of Minnesota.”

An ICE agent charged 2026 with felony assault in Minnesota marks the first criminal case against a federal officer from Operation Metro Surge, the Trump administration’s largest immigration enforcement operation, which deployed about 3,000 agents to the Minneapolis-St. Paul area between December and February and left two US citizens dead.

Gregory Donnell Morgan Jr. allegedly drove an unmarked SUV on a highway shoulder on February 5 past slower traffic, then pulled alongside a civilian vehicle and pointed his duty weapon directly at both occupants while continuing to drive. The victims called 911 and filmed the Utah license plate on the SUV, which investigators traced to a rental linked to Morgan’s ICE partner.

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Morgan gave a voluntary interview to Minnesota State Patrol after the incident, telling investigators he feared for his safety when the victims’ car pulled in front of him. He said he drew his weapon and yelled “Police! Stop!” Investigators noted the victims could not hear him because their windows were up and had no way to identify him as a law enforcement officer.

“For a federal agent, our opinion is that illegally driving on a shoulder, pulling up to a car and pointing a gun at the heads of two community members who are not doing anything at the time is well beyond the scope of their authority,” Moriarty said. The charges carry a maximum sentence of up to seven years in prison per count under Minnesota law.

Federal Response and What This Means for Operation Metro Surge

The Department of Homeland Security did not respond to requests for comment. Acting Attorney General Todd Blanche has previously warned that the DOJ could investigate and prosecute state and local officials who arrest federal agents for performing official duties. Moriarty said Thursday that she is “not concerned about blowback” and that her office would hold people accountable under Minnesota law regardless.

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Operation Metro Surge was described by DHS as its largest immigration enforcement operation ever. The surge led to thousands of arrests and drew mass protests across the Twin Cities. Two US citizens, Alex Pretti and Renee Macklin Good, were shot and killed by federal officers during the operation. Trump fired Noem in March shortly after the surge ended, and Border Patrol sector chief Gregory Bovino announced his retirement the same month. Minnesota is separately suing the federal government for access to evidence in the three shooting cases.

The Morgan case moved faster than the shooting investigations because, Moriarty said, “virtually none of the obstacles around evidence collection that exist for the January shootings exist in this case.” A video and a license plate produced a clear evidentiary path. The shooting cases involving Pretti and Good remain under investigation.

The charges arrive at a moment when the administration’s immigration enforcement record is becoming a central midterm issue, with Democrats using controversies like this to keep pressure on vulnerable House Republicans whose votes will determine whether the CLARITY Act and other reform legislation can pass before the November election.

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Benjamin Cowen Reveals Why The Altcoin Season Never Came

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Benjamin Cowen Reveals Why The Altcoin Season Never Came

For most of 2025, altcoin holders were waiting. Watching Bitcoin climb to a new all-time high near $126,000, they expected what had always followed — the familiar rotation, the altcoin surge, the season that rewards patience with explosive gains. It never came.

Benjamin Cowen, founder of IntoTheCryptoverse, wasn’t surprised. He had a name for what was happening, and it changed everything.

“This is a cycle where Bitcoin topped on apathy rather than euphoria.”

That single phrase explains more about the 2025 cycle than any price target or on-chain metric. And to understand why, you need to follow the data across four charts — from social sentiment, through market structure, all the way to the deepest layers of the global macro economy.


The Top That Looked Normal, But Wasn’t

Bitcoin did exactly what it always does. It peaked in Q4 of the post-halving year, right on schedule, consistent with every prior four-year cycle. On the surface, nothing was broken. Look closer, however, and something was fundamentally different.

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Cowen’s Social Metrics Historical Risk chart tells the story visually. The chart color-codes Bitcoin’s price history by the level of social engagement at each point in time — warm colors (red, orange) for high engagement, cool colors (blue) for low.

In 2017 and 2021, Bitcoin topped in a blaze of red and orange. Social interest was at peak levels. Retail was flooding in. Everyone was talking about crypto.

Social Metrics Historical Risk chart / Source: YouTube

In 2025, Bitcoin printed its all-time high in cold blue. Social engagement was near-historic lows at the exact moment the market reached its peak.

No retail frenzy or mainstream headlines are driving fresh money in. Just a quiet, almost invisible top — what Benjamin Cowen defines as apathy.

“In 2017 and 2021 we topped on euphoria and because we topped on euphoria there was a rotation into the higher risk assets — altcoins. But when you top on apathy you don’t get that same rotation.”

The only other time this happened was in 2019. That observation is where everything begins.

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Benjamin Cowen: Why Apathy Kills the Altcoin Season

In a euphoric cycle, the sequence is predictable. Bitcoin tops, early investors take profits, and that capital rotates into higher-risk assets — altcoins. The crowd, still buzzing with excitement, chases the next opportunity. Alt season follows almost mechanically.

Apathy breaks that sequence entirely. When Bitcoin tops on indifference rather than excitement, there is no crowd waiting to rotate.

The retail wave that normally fuels altcoin rallies simply never arrived. And without new buyers entering the market, altcoins have nowhere to go but down.

Cowen puts it with characteristic bluntness:

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“But when you top on apathy, like in 2019, you don’t get that rotation. And the reason you don’t get that rotation is that there’s just no one left to sell the altcoins to.”

The consequence is visible in the altcoin total market cap chart. Rather than the sharp post-Bitcoin rotation that altcoin holders were expecting, the chart shows something more painful — a slow, relentless bleed. Altcoins losing ground to Bitcoin not just in the bear market, but throughout the entire cycle, both during the bull run and after it ended.

TOTAL3 vs Bitcoin Dominance Chart. Source: YouTube

This is not a coincidence or bad luck. It is a direct consequence of the macro environment in which this cycle occurred.


The Macro Context: 2019 and 2025 Show the Same Story

Most crypto analysts treat Bitcoin as its own ecosystem, governed purely by halving cycles and on-chain mechanics. Benjamin Cowen argues that it is only half the picture.

The global business cycle — the broader rhythm of economic expansion, late-cycle stress, and recession — shapes not when Bitcoin tops, but how investors behave when it does.

His Business Cycles chart, built by normalizing a composite of S&P 500 performance, unemployment, interest rates, inflation, and M2 money supply, makes the argument visually.

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From Bitcoin’s earliest days through approximately 2019, the macro environment was in an early business cycle phase — the long recovery following the 2008 financial crisis. Risk appetite was structurally high. Investors were willing to climb the risk ladder, moving from equities to Bitcoin to altcoins.

Business Cycles M2-Normalized chart / Source: YouTube

In a late business cycle environment, that risk appetite reverses. Investors don’t reach for more risk — they pull back from it. They consolidate into quality. In crypto terms, that means Bitcoin, not altcoins. It explains why, in both 2019 and 2025, altcoins bled to Bitcoin even as Bitcoin itself was still rising. The macro environment was actively working against the rotation altcoin holders had been counting on.

“The reason why this cycle feels different is because this is a late business cycle environment. And the only other time we had a late business cycle environment where altcoins bled out to Bitcoin even after Bitcoin topped without a rotation was actually in that 2019 phase.”

The Liquidity Risk chart adds a second layer of confirmation. With liquidity risk currently sitting at 0.789 — firmly in the “Very Tight” zone — the conditions mirror those of the 2008 financial crisis and the 2018-2019 period almost precisely. Tight liquidity environments are not environments where investors chase speculative assets. They are environments where capital retreats to safety.

Liquidity Risk chart / Source: YouTube

The symmetry between 2019 and 2025 goes deeper still. In 2019, Bitcoin topped in June — two months before quantitative tightening ended in August. In 2025, Bitcoin topped in October — two months before quantitative tightening ended in December. Same pattern, same spacing, larger scale.

“What’s happening now is just a larger version of what happened in 2019. It just happens to all line up.”


What Comes Next for Benjamin Cowen

The 2019 parallel is not a perfect map, but it is the most honest one available. The four-year cycle remains intact — Bitcoin tops when it always tops, and it will bottom when it historically bottoms, approximately one year after the peak. That places the base case for a cycle low in October 2026.

What this cycle has revealed, more clearly than any before it, is that the crypto market does not exist in isolation. The business cycle, liquidity conditions, and investor risk appetite are not background noise — they are the environment in which every crypto decision plays out. In an early cycle, rising risk appetite carries altcoins higher.

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In a late cycle, retreating risk appetite leaves them behind.

Benjamin Cowen’s thesis is not a bearish call for its own sake. It is a framework for understanding why this cycle felt different — and why, for those who understood the macro context, it was never really a surprise.

The altcoin season didn’t fail. It was never going to arrive. Not in this environment. Not in this cycle.

The post Benjamin Cowen Reveals Why The Altcoin Season Never Came appeared first on BeInCrypto.

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Telegram CEO Warns EU Age Verification App Risks Surveillance

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Telegram CEO Warns EU Age Verification App Risks Surveillance

Telegram CEO Pavel Durov warned Friday that the European Union’s new age-verification app could become a stepping stone toward broader online identity tracking, days after the European Commission said the system was technically ready for rollout.

In a Telegram post on Friday, Durov cited analysis from security consultant Paul Moore, who said the app is hackable in “under two minutes” after examining its technical design.

“This product will be the catalyst for an enormous breach at some point,” Moore said in an X post on Thursday, adding that the system could be tricked so the age check isn’t properly tied to the actual user or their device.

Durov argued that the security concerns went beyond age checks and could, over time, be used to justify broader identity verification across online services in Europe.

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The criticism reflects a wider debate over how age verification is being built into online platforms, as regulators in multiple regions push similar systems, raising concerns over security and digital identity infrastructure.

System promoted as being “completely anonymous”

The European Commission released the first version of its age-verification blueprint in July 2025, with the aim of letting users prove they are over 18 without disclosing other personal information.

The age verification framework was developed as an open-source project designed to preserve privacy and support future interoperability with European Digital Identity Wallets.

Source: Ursula von der Leyen

In a statement on Tuesday, EC President Ursula von der Leyen said the EU’s age verification app is “technically ready,” describing the tool as “completely anonymous” and claiming users can prove their age without revealing personal data or being tracked.

However, after researchers said the system can be bypassed in minutes, it’s unclear whether its privacy and security promises will hold up in real use.

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Related: Signal push notifications could present privacy vulnerability, says Durov

According to Durov, the app is “hackable by design,” suggesting it was built in a way that makes it easy to break in practice, which he argues could later be used to justify stronger identity checks.

Source: Pavel Durov

“The EU bureaucrats needed an excuse to silently start turning their ‘privacy-respecting’ age verification app into a surveillance mechanism over all Europeans using social media,” the Telegram CEO said.

Durov has emerged as a major advocate of free speech and digital privacy. He remains under judicial investigation in France over allegations tied to illegal activity facilitated through Telegram, including organized crime, fraud and the platform’s alleged failure to cooperate with authorities.

Magazine: How crypto laws changed in 2025 — and how they’ll change in 2026

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