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Investment bank Cantor Fitzgerald believes Robinhood and Coinbase are poised to be the biggest beneficiaries of the rapid growth in prediction markets, CoinDesk reported, citing a note from the firm. In the report, Cantor Fitzgerald stated that prediction markets are expanding quickly and are expected to maintain this impressive growth. While major platforms like Kalshi and Polymarket remain private, public companies are integrating event-based trading into their apps to capitalize on the trend. The bank explained that these firms have an inherent advantage in boosting liquidity and participation due to their large retail investor bases and existing trading infrastructure. Cantor Fitzgerald also addressed the misconception that prediction markets are disguised gambling platforms. The report argued that users buy contracts they believe are undervalued and sell those they see as overvalued, similar to the stock market, and predicted that these markets will emerge as a versatile tool for institutional investors. However, the firm noted that regulatory issues remain an uncertainty. The current situation is confusing, with federal and state authorities divided on whether prediction markets should be governed by derivatives law or gambling regulations. Despite this, Cantor Fitzgerald concluded that the markets are unlikely to disappear, placing companies with large user bases and strong distribution networks like Robinhood and Coinbase in a favorable position.

Amid the recent crypto market rebound, ETH has reclaimed the $2,300 level, which represents the realized price for one- to three-month holders, Glassnode reported. However, the analytics firm noted that the current trend is more akin to a relief rally within a bear market, similar to what was seen in the third and fourth quarters of 2022, rather than a structural trend reversal.

An anonymous whale withdrew 50.5 million units of a memecoin named after Changpeng Zhao's memoir from Binance two hours ago, Lookonchain reported. The withdrawal, worth approximately $16.1 million, was sent to a new wallet. Over the past two days, the same whale has used 15 new wallets to withdraw a total of $49.5 million worth of the token from the exchange. This amount represents about 13.83% of the memecoin's total supply.

According to CoinNess market monitoring, BTC has risen above $76,000. BTC is trading at $76,016.27 on the Binance USDT market.

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

Bitcoin is approaching its realized price of $76,800, according to Julio Moreno, a senior analyst at CryptoQuant. The realized price represents the average on-chain acquisition cost for all market participants. This level typically acts as strong resistance during bear markets.

Major exchanges have seen $103 million worth of futures liquidated in the past hour. In the past 24 hours, $616 million worth of futures have been liquidated.

An anonymous whale who previously bought Bitcoin at a market low has taken profits by selling a portion of the holdings, according to on-chain analyst EmberCN. The whale transferred 670 cbBTC, worth approximately $50.11 million, to Coinbase a short time ago. This sale is part of a larger holding of 4,000 cbBTC acquired in early February at an average price of $73,837. The transaction is estimated to have netted a profit of around $1.1 million. The whale's address still holds crypto assets valued at $556 million, including 138,000 ETH (worth about $330 million) and 3,000 cbBTC (worth about $226 million).

JPMorgan Chief Financial Officer (CFO) Jeremy Barnum has warned that stablecoins could distort the market if their regulations do not align with traditional banking standards, CoinDesk reported. Speaking during the company's first-quarter earnings call, Barnum pointed out that stablecoins offer functions similar to bank deposits but could potentially evade interest rate rules and customer protection regulations. He explained that market distortions could arise if the same regulations are not applied, allowing some structures to effectively perform banking functions without being regulated.

Ki Young Ju, CEO of CryptoQuant, stated on X that the opportunity to buy Bitcoin near the cost basis of investors like MicroStrategy founder Michael Saylor and institutional ETF investors may not last much longer.

According to CoinNess market monitoring, BTC has risen above $75,000. BTC is trading at $75,000 on the Binance USDT market.

Decentralized prediction market Polymarket will audit platforms within its ecosystem suspected of involvement in insider trading, The Information reported. These platforms are accused of collecting and distributing information on accounts suspected of insider trading to encourage users to engage in copy trading.

The three major U.S. stock indices opened higher today. - S&P 500: +0.31% - Nasdaq: +0.73% - Dow Jones: +0.07%

The Ripple Ledger (XRPL) has introduced a Zero-Knowledge (ZK) verification feature through an integration with Boundless (ZKC), a decentralized ZK computing marketplace. According to CoinDesk, the feature is designed to enable the processing of transactions without exposing their details on a public blockchain, thereby helping financial institutions comply with regulatory requirements.

The International Monetary Fund (IMF) said the Bank of Japan (BOJ) is likely to implement gradual interest rate hikes at a somewhat faster pace than it had anticipated in its forecast last October.

Neo co-founder Da Hongfei has announced a comprehensive restructuring plan for the foundation, officially acknowledging internal conflict. He stated that a difference in vision between himself and co-founder Erik Zhang has led to a deadlock that has paralyzed the foundation's governance. As a solution, Da proposed a complete overhaul of the foundation's structure to a management system capable of independent decision-making, free from the founders' influence.

As Bitcoin approaches the $75,000 mark, market analysis suggests this price level is a key pivot point that could reverse the current sideways trend. Mati Greenspan, founder of Quantum Economics, said that a clear break above $75,000 would represent a structural breakout rather than a simple price hike, potentially shifting the market into a new uptrend, CoinDesk reported. He noted that the critical factor is not merely surpassing the level in the short term but whether the price can stabilize above it. According to Greenspan, settling at this price would act as a bullish signal and could attract new capital. While a failure to hold this level could risk a bull trap, he added that the overall market structure remains robust, with a strong support line at $65,000 likely to limit any significant price drops.

The Senate confirmation hearing for Kevin Warsh, the nominee for U.S. Federal Reserve Chairman, is scheduled for April 21, U.S. political media outlet Punchbowl reported.

The Bitcoin network has passed the halfway point of its fifth halving cycle, which began in April 2024, CoinDesk reported. In the current cycle, BTC has seen a notably modest gain of around 15% since the halving, a stark contrast to previous cycles. Experts interpret this, along with the volatility that saw Bitcoin surge past $126,000 last October before falling to $60,000, as a sign that the cryptocurrency has fully integrated as a mature institutional asset.

The Aave (AAVE) protocol accounts for 30% of the total value locked (TVL) across the entire DeFi market, according to Unfolded.

The U.S. Department of Labor announced that the Producer Price Index (PPI) rose 0.5% month-over-month in March. The figure came in below the market expectation of a 1.1% increase. The PPI is typically reflected in the Consumer Price Index (CPI) after a time lag.

Paxos Labs, a startup under stablecoin issuer Paxos, has raised $12 million in a seed round led by Blockchain Capital, according to Fortune. The company plans to offer stablecoin issuance and management services for enterprises.

Federal Reserve Chairman nominee Kevin Warsh is reported to have cleared a hurdle that was blocking his confirmation, according to Fox Business. U.S. Senator Scott said Warsh's hearing is scheduled for next week and his confirmation is expected to pass.

Further negotiations between the U.S. and Iran have not yet been confirmed, Walter Bloomberg reported, citing CNN. The report follows earlier news that U.S. and Iranian negotiating teams were scheduled to return to Islamabad, Pakistan, later this week to resume talks. However, Iran has stated that there was no agreement to hold a second round of discussions. The U.S. is reportedly discussing additional in-person meetings before the current ceasefire deadline expires, but it remains unclear whether the negotiations will actually take place.

Visa, Stripe, and Zodia Custody, a cryptocurrency custody firm under Standard Chartered, have joined the stablecoin and payments-focused blockchain Tempo as validators, Unfolded reported.