KEYTAKEAWAYS
- Bitcoin mining goes political with Hut 8 partnering with Trump's sons to form American Bitcoin, while Strategy transfers $613M in BTC to new addresses amid market volatility.
- Crypto market shows extreme volatility with $122M in liquidations, mostly from long positions, even as DeFi platforms launch initiatives with dYdX DAO approving $1.5M in user incentives.
- Global trends show 47 countries easing crypto regulations since 2020 (while only 4 banned it), as PumpSwap reaches $10B in trading volume just 10 days after launch.
CONTENT
Welcome to the CoinRank Crypto News Roundup. CoinRank will provide daily important crypto news in this column series, allowing readers to quickly obtain the latest crucial updates from the cryptocurrency market.
MORNING NEWS
1. $122 Million in Liquidations Hit Crypto Market in 24 Hours
Network-wide liquidations hit $122 million in 24 hours, mostly from long positions.
2. Ethereum Gas Fee at Record Low
Ethereum gas fee currently at 0.37 Gwei.
3. Strategy Transfers $613 Million in Bitcoin
According to Onchain Lens monitoring, Strategy-related addresses have transferred 7,383.25 bitcoins (worth approximately $613 million) to three new addresses.
4. Zoth Protocol Provides Update on Security Incident
According to official information, RWA lending protocol Zoth has released the latest progress on its security incident investigation.
Zoth stated there have been no significant changes to the involved funds, and the team is collaborating with intelligence agencies and ecosystem partners to track the attackers’ activities.
Key tasks include real-time monitoring of relevant wallet fund flows, collaborating with on-chain analysis teams to trace attackers’ digital footprints, and coordinating with law enforcement and legal teams on next steps.
5. Trader Eugene Takes Long Position on SOL
Trader Eugene posted in his Telegram channel that he has established a medium-sized long position for SOL at the $125 area.
He believes the market’s previous violent fluctuation from 88K to 82K has released some risks, and with the catalysts from GME and MARA, as well as the evolution of the extreme tariff scenario on April 2nd, the current position offers a good risk-reward ratio.
NOON NEWS
1. Chinese AI Company DeepSeek Overtakes ChatGPT in Monthly Visits
Chinese AI company DeepSeek has overtaken OpenAI’s ChatGPT in monthly website visits, becoming the fastest-growing AI tool globally, according to analytics platform aitools.xyz.
DeepSeek recorded 525 million visits in February, surpassing ChatGPT’s 500 million, and now holds a 6.58 percent market share, trailing only ChatGPT (43%) and design platform Canva (8%).
2. Gold Prices Hit New Record Above $3,100
Gold prices extended their stellar run on Monday, topping $3,100 per ounce to hit another record high, as uncertainty around tariffs stoked inflation fears and lifted safe-haven demand.
Bullion has gained around 18% so far this year, after rising more than 27% in 2024, supported by favorable monetary policy, robust central bank buying, and ETF demand.
Goldman Sachs expects gold to surpass $4,500 within the next 12 months under extreme market conditions.
3. 47 Countries Have Eased Crypto Regulations Since 2020
Since 2020, a notable trend has emerged in the global regulatory environment for cryptocurrencies, with 47 countries easing or simplifying their regulations.
This shift underscores growing global recognition of digital assets’ potential benefits, as governments seek to foster innovation within their borders.
In contrast, only four countries have tightened restrictions or completely banned cryptocurrency and mining.
4. Binance to Update Collateral Ratio for Portfolio Margin Assets
Binance will update the collateral ratio for select assets under Portfolio Margin from 2025-04-04 06:00 (UTC). The update will be completed within approximately one hour.
Users should monitor their Unified Maintenance Margin Ratio (uniMMR) closely to avoid potential liquidation or losses resulting from the collateral ratio change.
5. HYPER Token on HyperEVM Surges Nearly 100%
$HYPER on HyperEVM exceeds 5.8 million tokens, up nearly 100% this week.
EVENING NEWS
1. Hut 8 and Trump Sons Launch American Bitcoin Mining Venture
Bitcoin mining platform Hut 8 and Donald Trump’s sons have joined forces to launch a new firm called American Bitcoin focused exclusively on “industrial-scale Bitcoin mining and strategic Bitcoin reserve development.”
Virtually all of Hut 8’s ASIC miners will take a majority stake in American Data Centers, which includes Eric Trump and Donald Trump Jr. as investors. American Data Centers will be renamed American Bitcoin as part of the arrangement, with Hut 8 owning 80% and the original owners holding 20%.
Eric Trump joins as Chief Strategy Officer, while Donald Trump Jr. stated that the family has believed in Bitcoin “from the start” but owning cryptocurrency was “only half the story,” with mining offering “an even bigger opportunity.”
2. Ethereum’s Daily Revenue Drops Below $500K
Ethereum’s 24-hour revenue drops below $500,000, ranking 19th in crypto revenue.
3. PumpSwap Reaches $10 Billion in Trading Volume in Just 10 Days
PumpSwap, the new DEX from Pump.fun, hit $10 billion in trading volume just 10 days after launch. It enables smooth migration from Pump.fun and is rapidly challenging Solana’s Raydium.
4. Three Tokens See Monthly Gains Exceeding 100%
According to SoSoValue data, three tokens among the top 500 cryptocurrencies by market cap have seen monthly gains exceeding 100%:
-
Saros ($SAROS): 483.86% increase, currently at $0.07999
-
Subsquid ($SQD): 119.77% increase, currently at $0.15764
-
CZ’s Broccoli ($BROCCOLI): 113.71% increase, currently at $0.05191
5. dYdX DAO Approves $1.5 Million Token Incentive Program
The dYdX DAO voted on Sunday to distribute $1.5 million in DYDX tokens to eligible users to boost adoption. The on-chain vote, which started on March 27, was completed on Sunday with 94.17% of members voting in favor of the incentive program.
This follows dYdX’s recent buyback program announcement, which allocates 25% of the protocol’s net fees to repurchase DYDX tokens monthly. Based on 2024 revenue, this could lead to approximately $11 million worth of DYDX tokens repurchased annually.
▶ Buy Crypto at Bitget
CoinRank x Bitget – Sign up & Trade to get $20!
