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Bitcoin spot trading volume has fallen to levels last seen in September 2023, signaling a significant decline in market interest, according to on-chain analyst Darkfost. He noted that volume on Binance, the leading exchange, has dropped by approximately $25 billion since March, while Gate.io and OKX have seen decreases of around $13 billion and $6 billion, respectively. Darkfost explained that as macroeconomic uncertainty affects market sentiment, investors are hesitating to make spot purchases. While the decline in volume is a negative short-term signal, he added, new opportunities often emerge when market interest wanes.

Axelar (AXL) has completed a Proof-of-Concept (PoC) in collaboration with XRP Ledger Korea and Hana Financial TI to test the structure for issuing, distributing, and settling a won-based stablecoin. According to The Herald Business, the test was conducted to prepare for the potential regulatory formalization of stablecoins and to verify whether a digital asset based on the South Korean won could be used in a real-world financial institution environment. During the process, the three organizations examined the operational feasibility of managing the issuance and supply of the stablecoin, handling cross-chain asset transfers and settlements, and implementing the control functions required by financial institutions.

Binance Alpha has announced the listing of Gensyn (AIGENSYN). The project had previously scheduled its token generation event (TGE) for today, April 29.

Market manipulation schemes, once primarily associated with the stock market, are now being uncovered in the virtual asset sector by South Korean financial authorities, Yonhap Infomax reported. South Korea’s Financial Services Commission announced at its eighth regular meeting on April 29 that it has decided to refer suspects in two cases of virtual asset market manipulation to investigative agencies. The methods involved a mix of traditional "Pump and Dump" schemes from the stock market and the exploitation of APIs, a technique specific to the virtual asset market.

UBS CEO Sergio Ermotti has warned that financial markets are at risk of being overly optimistic about the conflict with Iran. He said that markets not only expect the situation to be resolved but also believe its impact will be managed in a traditional manner. This comes as U.S. stock markets have reached all-time highs, despite the conflict's continued escalation and the lack of any signs of a sustainable solution. Ermotti stated that while the market is quite optimistic, he hopes this optimism proves to be justified, emphasizing that a diversified asset allocation can hedge against the risk of a potential reversal. Separately, he addressed a new capital regulation system under review by the Swiss parliament, refuting claims that UBS is lobbying aggressively for deregulation. He clarified that the bank is not engaged in strong lobbying but is simply representing the interests of its shareholders.

South Korean crypto exchange Coinone announced that it has placed Syndicate (SYND) on its delisting watchlist.

Blockchain-focused venture capital firm Fenbushi Capital withdrew 3,063 ETH, worth $7.13 million, from Aave and subsequently deposited the funds to Binance, Lookonchain reported. Such deposits to exchanges are often interpreted as a precursor to selling.

The vast majority of users on the prediction market platform Polymarket are losing money, with profits being concentrated among a small number of automated trading bots, according to a Bloomberg analysis. The analysis, which reviewed approximately two million addresses active since early 2025, found that over 100,000 accounts recorded losses exceeding $1,000, while around 50,000 accounts registered profits of less than $1,000. Profits were primarily captured by the top 1% of automated bots, which excel at early market entry and price execution. In contrast, regular retail investors incurred a total loss of $131 million due to limitations in their entry timing. Joshua Della Vedova, a professor at the University of San Diego who analyzed the data with Bloomberg, explained that the bots' success is not due to superior predictive ability. Instead, he noted they profit from an execution advantage, which allows them to enter markets early and secure favorable prices. Vedova added that while retail investors were more often correct in predicting outcomes, they ultimately lost tens of millions of dollars by entering trades too late at disadvantageous prices.

Prediction market platform Polymarket has refuted allegations of a hack and data breach. According to Cointelegraph, the claims originated from a hacker known as 'xorcat,' who asserted they had stolen over 300,000 data records from Polymarket and obtained the information of 10,000 users, including real names, profile images, and wallet addresses. After cybersecurity firm Vecert Analyzer and others highlighted the allegations on X, Polymarket dismissed the claims as absurd. The company stated that the posted information was already publicly available online and that the incident was merely an attempt to collect and sell this data, not an actual hack.

Ethereum founder Vitalik Buterin has sold 40 million ASTEROID tokens for $114,566, according to Onchain Lens. The tokens were reportedly received as a donation. Onchain Lens noted that Buterin holds a large quantity of donated memecoins and may sell more in the future. ASTEROID is a memecoin that experienced significant price volatility after being mentioned by Tesla CEO Elon Musk.

An address believed to belong to Andean Medjedovic, the hacker behind the $48.8 million KyberSwap exploit, has transferred 1600 ETH (worth approximately $3.72 million) to Tornado Cash, according to Arkham.

Japanese listed company Metaplanet, which has been accumulating Bitcoin, is calling for community signatures to oppose a proposed change to the Tokyo Stock Exchange's key index. Dylan LeClair, head of Bitcoin strategy at Metaplanet, stated that the Japan Exchange Group (JPX) is considering a plan to exclude companies with over 50% of their assets in cryptocurrency from the Tokyo Stock Price Index (TOPIX). He noted that the measure could affect Metaplanet, Remixpoint, and Anap Holdings, and urged the public to sign a petition against the proposal.

Blockchain security firm Peckshield reported via X that there are signs of a hack on the Syndicate (SYND) Common Bridge. The firm added that the SYND token price subsequently plunged by about 35%.

24-hour crypto futures liquidations The following shows estimated liquidation volumes and position ratios for major crypto perpetual futures over the past 24 hours: - ETH: $69.16 million liquidated (55.35% shorts) - BTC: $67.77 million liquidated (55.72% longs) - SOL: $5.28 million liquidated (73.99% longs)

The following are the 24-hour long/short ratios for BTC perpetual futures on the world’s three largest crypto futures exchanges by open interest: Overall: 49.94% long, 50.06% short - Binance: 50.62% long, 49.38% short - OKX: 49.5% long, 50.5% short - Bybit: 49.61% long, 50.39% short

The Spot CVD chart analyzes the order book for the BTC/USDT spot pair. The top section shows the Volume Heatmap, and the bottom section shows the Cumulative Volume Delta (CVD). - The top Volume Heatmap tracks the volume of trades at specific price levels. The background color becomes brighter when the price remains in a certain range for an extended period or moves significantly. These brighter areas can potentially act as support or resistance levels. - The bottom Cumulative Volume Delta (CVD) indicator represents buy and sell orders categorized by trade size. As buy orders increase, the corresponding colored line rises. The yellow line represents orders between $100 and $1,000, while the brown line indicates large orders between $1 million and $10 million.

An address believed to belong to crypto financial services firm BIT (formerly Matrixport), the largest on-chain holder of ETH long positions, is currently holding an $81 million long position with an average entry price of $2,269. The position, reportedly opened last night, is now showing an unrealized profit of $2 million, Hyperinsight reported.

South Korean crypto exchange Upbit announced it will temporarily suspend deposits and withdrawals for Zilliqa (ZIL) due to a network hard fork scheduled for 6:00 a.m. UTC on May 5.

Bitcoin sellers who are sensitive to macroeconomic uncertainty have already exited the market, weakening selling pressure, Split Research founder Zaheer Ebtikar told CoinDesk in an interview. "The supply glut has been resolved, and those who were anxious about macroeconomic changes or quantum technology concerns have already left the market," he explained. Ebtikar added that BTC is less sensitive to regulatory rumors or central bank policies than people might think. He noted that it is currently in a stable price range and a sudden flood of sell orders is not imminent.

AMO Coin (AMO) has launched its Drive-to-Earn (D2E) 2.0 Android app, which links with Tesla vehicles to reward users based on their driving distance, according to an official Medium post. The company added that the app does not collect separate location data, allowing for use without concerns over personal information leaks.

Israel is set to accept a limited agreement with Lebanon, the Israeli daily newspaper Israel Hayom reported on April 29.

Park Jeong-yeol, head of the Individual Taxation Bureau at South Korea's National Tax Service (NTS), stated on April 29 that the agency is preparing for the implementation of cryptocurrency taxation. During a briefing on comprehensive income tax filings, he said the NTS is getting ready to process tax returns for virtual asset income generated from next year, with the first filings scheduled for May 2028. According to Edaily, under the current Income Tax Act, income from the transfer or lending of virtual assets will be classified as other income starting Jan. 1, 2027. A 22% tax rate, which combines a 20% other income tax and a 2% local income tax, will be applied to annual profits exceeding 2.5 million won. The tax is expected to apply to all 13.26 million virtual asset investors in the country, a figure based on the cumulative number of members on the South Korean exchange Upbit as of last December.

While Morgan Stanley's potential entry into the spot Bitcoin ETF market is being watched as a possible catalyst to end the crypto bear market, its effects are unlikely to be immediate, according to an analysis. Blockstream CEO Adam Back stated that although a spot Bitcoin ETF can send a positive signal to the market, its impact will not be instantaneous, CoinDesk reported. "Institutional adoption is much slower than expected," Back said. He noted that while BlackRock has recommended a 2% to 4% crypto allocation in portfolios, most fund managers have not yet reflected this. Back predicted that investors will not rush in, and it could take at least one year and up to 18 months for actual fund inflows to expand.

U.S. spot Ethereum ETFs saw approximately $21.8 million in net outflows on April 28, marking the second consecutive day of outflows, according to data from Farside Investors. - BlackRock (ETHA): -$13.2 million - Fidelity (FETH): -$1.7 million - Grayscale (ETHE): -$6.9 million

U.S. spot Bitcoin ETFs experienced net outflows of approximately $89.7 million on April 28, marking the second consecutive day of net outflows, according to data from Farside Investors. - BlackRock's IBIT: -$112.2 million - Fidelity's FBTC: -$5 million - Bitwise's BITB: -$13.7 million - Ark Invest's ARKB: +$41.2 million