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According to a CEX.IO report, the stablecoin supply reached an all-time high of $315 billion in the first quarter. Stablecoins constituted 75% of total cryptocurrency trading volume, also a record high. The report noted that USDC supply increased by $2 billion while USDT supply decreased by $3 billion, marking the first clear sign of a reversal between the two since 2022. However, the report also raised concerns about a slowdown in real demand, as the market structure shifts toward algorithmic and arbitrage trading rather than organic demand. This is evidenced by a 16% decrease in personal transfers and bot activity accounting for 76% of trades.

Whale Alert reported that 250 million USDC has been minted at the USDC Treasury.

The three major U.S. stock indices closed mixed today. - S&P 500: +0.11% - Nasdaq: +0.18% - Dow Jones: -0.13%

BlackRock's IBIT has recorded a daily trading volume of $16-18 billion, Unfolded reported, citing data from Kaiko. This volume is comparable to that of Binance's spot trading and more than double the daily volume of Coinbase, which stands at $6-8 billion. The media outlet noted that the data shows regulated products have established themselves as a competitive alternative to cryptocurrency exchanges.

New York Fed President John Williams said energy prices have ripple effects on the economy, adding that it could take several months to a year for these impacts to pass through to the real economy.

JPMorgan has warned that there is a risk of oil prices exceeding $150 per barrel if disruptions to oil shipments in the Strait of Hormuz continue through mid-May.

Sui announced on X that Beep, its first agentic wallet and financial protocol, has expanded its range of tradable assets from seven to more than 300. The wallet's agent trader, "R-2.5," now supports not only cryptocurrencies but also stocks and commodities, automatically selecting the most optimal execution path for trades. All transactions are executed on-chain and settled on the Sui network.

The U.S. Commodity Futures Trading Commission (CFTC) has filed lawsuits against Arizona and Connecticut over prediction markets, expanding on a similar action previously taken against Illinois. The agency announced on its official website that the lawsuits against the three states are intended to reaffirm its exclusive jurisdiction over these markets. CFTC Chairman Michael Selig stated that the commission will protect its exclusive regulatory authority and shield market participants from overzealous state regulators.

Sadegh Larijani, Chairman of Iran's Expediency Discernment Council and brother of the late former Supreme National Security Council Secretary Ali Larijani, stated on social media yesterday that "the U.S. would be wise to refrain from futile actions." He declared that "the Strait of Hormuz will not return to its pre-war state." Larijani wrote that the changing situation in the region has moved beyond traditional warfare and is entering a critical phase of reshaping the global order and rebalancing power. He emphasized that Iran's current counter-offensive is not merely strategic but a struggle for civilizational survival.

Whale Alert reported that 361,353,370 USDC has been transferred from Coinbase Institutional to an unknown wallet. The transaction is valued at about $361 million.

U.S. fintech platform SoFi (SOFI) has launched "Big Business Banking," a corporate financial service that integrates both fiat and cryptocurrency management, Cointelegraph reported. The platform is designed to allow businesses to handle deposits, fund transfers, and payments within a single regulatory environment. This new service combines functions that were previously spread across traditional banks, custody providers, and cryptocurrency service firms.

Circle has announced the upcoming launch of its own wrapped Bitcoin, Circle Wrapped Bitcoin (cirBTC), via a post on X. The token will be backed 1:1 by Bitcoin (BTC) and is slated to be designed to allow for on-chain reserve verification.

Bitcoin mining and AI data center developer Soluna Holdings has acquired a $53 million wind farm, Cointelegraph reported. The facility, the Briscoe Wind Farm in Briscoe County, Texas, can generate up to 300 megawatts (MW) of power. Soluna Holdings has been expanding into the AI data center infrastructure business since 2024.

The International Monetary Fund (IMF) has stated that tokenization is reshaping the landscape of the regulated financial system, according to the Watcher.Guru X account.

Coinbase has clarified that it has no plans to become a bank, despite receiving conditional approval to establish a trust company in the U.S. In an official blog post, the company stated that it received the approval from the Office of the Comptroller of the Currency (OCC) but is not seeking to become a commercial bank. Coinbase added that it does not plan to accept deposits from individuals like a traditional bank or introduce a fractional reserve system, explaining that the move is intended to improve its services. The company noted that the approval will provide greater uniformity in federal regulation for custodying various client assets and emphasized that it will enable business expansion into the payments sector.

U.S. President Donald Trump stated on social media on April 2 that it is time for Iran to make a deal before it is too late. He said that Iran's largest bridge has collapsed and is no longer usable, warning that more such events will follow. Trump added that everything that once held the potential for Iran to be a great nation will disappear.

On-chain data platform Glassnode said on X that as Bitcoin's price has fallen significantly from its peak, BTC whale addresses holding between 100 and 10,000 BTC are realizing large-scale losses. The firm's analysis showed that based on the seven-day Exponential Moving Average (EMA) of Net Realized Profit & Loss for Bitcoin investors, the scale of daily losses has surpassed $200 million, which it described as a typical panic-selling trend among BTC whales.

CME Group announced on its official X account that it plans to introduce 24-hour trading for its crypto futures and options products starting May 29. The schedule is contingent on regulatory approval.

The U.S. Commodity Futures Trading Commission (CFTC) has filed a lawsuit against the state of Illinois over prediction markets. According to BeInCrypto, the regulator has asked a federal court to permanently prohibit Illinois from applying its gambling laws to prediction market operators licensed as Designated Contract Markets (DCMs). The core of the lawsuit is federal preemption, with the CFTC arguing that it holds exclusive jurisdiction over swaps and futures trading on federally regulated exchanges under the Commodity Exchange Act. The CFTC emphasized that Illinois cannot unilaterally infringe upon or nullify its federal authority. Meanwhile, Illinois has sent cease-and-desist orders to Kalshi, Polymarket, Crypto.com, and Robinhood.

The following is an order book analysis chart for the BTC/USDT spot pair. The top section displays a volume heatmap, while the bottom shows the Cumulative Volume Delta (CVD). - The volume heatmap at the top tracks trading volume at specific price levels. The background color brightens when the price lingers in a range or moves significantly, with these brighter areas potentially acting as support or resistance. - The Cumulative Volume Delta (CVD) indicator at the bottom shows buy and sell orders categorized by trade size. A rise in a colored line indicates an increase in buy orders for that category. For example, the yellow line represents orders between $100 and $1,000, while the brown line tracks large orders between $1 million and $10 million.

Top 5 Gainers (24h) - NTRN: +158% to $0.0047, 24h vol: $5.51M - CTSI: +96.23% to $0.0045, 24h vol: $71.77M - SOLV: +46.42% to $0.0057, 24h vol: $293.26M - MATH: +41.21% to $0.0354, 24h vol: $3.21B - FIDA: +32.22% to $0.021, 24h vol: $87.15M Top 5 Losers (24h) - D: -40.22% to $0.0081, 24h vol: $79.47M - HIFI: -35.62% to $0.0058, 24h vol: $114.07K - DELABS: -26.36% to $0.0014, 24h vol: $35.57K - SIS: -23.15% to $0.0374, 24h vol: $588.89K - SXP: -22.22% to $0.0021, 24h vol: $1.21M

Crypto analyst and YouTuber Benjamin Cowen said on X that Bitcoin tends to follow a specific pattern in U.S. midterm election years. He noted that the cryptocurrency typically forms a bottom in February, rallies to a high in March, and then declines again in April. Cowen suggested that investors who miss this historical trend often try to attribute current market movements to specific events, such as a particular speech. He added that there is always a plausible narrative in the market and urged investors to stick to their own principles rather than being swayed by emotional judgments.

Social media platform X plans to introduce a new security measure to curb the spread of cryptocurrency phishing scams, CoinDesk reported. According to Nikita Bier, Head of Product at X, accounts will be automatically blocked when they make their first-ever crypto-related post. To resume posting, users will need to complete an additional verification process. Bier stated that this measure is expected to eliminate most of the root causes behind the proliferation of crypto scams.

Credit rating agency KBRA has assigned a BBB rating to Ripple Prime, a prime brokerage platform for institutional investors, the agency announced on its official website. KBRA explained that Ripple Prime is delivering meaningful performance from its exchange-traded derivatives (ETD) platform, launched in 2024, and its expanded repo and short-term treasury-focused business, which scaled up in 2025. The rating is based on the platform's business model, which is currently in a growth phase.

Coinbase has received conditional approval to establish a trust company in the U.S., Unfolded reported.