Blocksquare, Vera Capital ink deal to tokenize $1B in US real estate
Ethereum-based real-world asset (RWA) tokenization platform Blocksquare has partnered with a Florida-based real estate company to offer fractional ownership in a pipeline of US commercial properties valued at over $1 billion. Announcing the deal on April 18, Blocksquare and Vera Capital said a marketplace would launch in the coming weeks to enable global investors to buy tokenized shares in “dozens of properties” located across seven US states. The first tokenized properties that will be up for grabs are part of Vera Group’s existing holdings, which include a three-storey office building in Fort Lauderdale and a retail plaza in Dania Beach, according to two properties listed on Vera Capital’s website.Source: Vera Capital“All our assets are already part of the group, so with the Vera Fund they’ve already been purchased, and they are owned by us, managed by us and we are only improving them,” Vera Group CEO Nick Polyushkin said.Vera Capital is a subsidiary of Vera Group, which also runs a South Florida real estate agency, real estate management company, and a real estate investment fund with over $100 million invested through commercial property acquisitions, land development and residential developments.Polyushkin said the $1 billion figure comes from the company’s roadmap, which includes tokenizing existing assets and raising funds for development projects. He said future properties the company plans to tokenize include two unit complexes valued at between $70 and $100 million.“This is ambitious numbers if you’re looking at this from the perspective of residential use in investments, but from a commercial standpoint, this is a very realistic number and not just achievable, it’s over-achievable,” he said.Related: RWAs rise to $17B all-time high, as Bitcoin falls below $100KTokenized real estate still needs legal clarity in US To date, Blocksquare has been used to tokenize around 150 properties in 28 countries, at a value of over $145 million. The platform launched an EU-compliant framework in February 2025 to enable property owners to tokenize economic rights tied to real estate through notarized agreements. Blocksquare CEO Denis Petrovic said once the Vera Group partnership was in progress, Blocksquare started to research to “see if the framework we have from Luxembourg will also be applicable for the US.”“There’s always the option obviously of launching tokens directly without the Luxembourg entity getting involved, but just having it there it’s an additional convenience for a marketplace based out of the US like Vera Group,” he said.Magazine: Have your stake and earn fees too: Tushar Aggarwal on double dipping in DeFi
‘Crypto is not communism’ — Exec slams BIS’ take on crypto
The Bank for International Settlements’ (BIS) push to isolate crypto markets and its controversial recommendations on DeFi and stablecoins is “dangerous” for the entire financial system, warns the head of a blockchain investment firm.“Many of their recommendations and conclusions – perhaps due to a mix of fear, arrogance or ignorance–are completely uninformed and frankly, dangerous,” CoinFund president Christopher Perkins said in an April 19 X post, referring to the BIS April 15 report titled “Cryptocurrencies and decentralized finance: functions and financial stability implication.” BIS recommendations exposes TradFi to risks of “unimaginable scale”“Crypto is not communism,” Perkins said, pushing back against the BIS’s call for a “containment” approach to isolate crypto from traditional finance and the broader economy.“It’s the new internet that provides anyone with a connection access to financial services,” Perkins said. “You cannot control it anymore than you control the internet,” he added.Perkins warned that a containment approach to crypto would expose the traditional financial system to massive liquidity risks “of unimaginable scale,” especially when the crypto market operates in real-time, 24/7, while traditional financial markets shuts down after trading hours.“If implemented they will cause–not mitigate–the systemic risk they seek to prevent.”The report warned that the number of investors and amount of capital in crypto and DeFi have “reached a critical mass,” with investor protection becoming a “significant concern for regulators.”Source: Michael EgorovPerkins pushed back against the BIS’ claim that DeFi presents significant challenges, arguing instead that it represents a “significant improvement” over the “opacity” and imbalances of the traditional financial system.Related: Crypto industry is not experiencing regulatory capture — AttorneyResponding to the BIS’s concern about the anonymity of DeFi developers, Perkins questioned its relevance:“Sorry, but when was the last time a TradFi company published a list of its developers? Sure, public companies provide a degree of disclosures and transparency, but they seem to be dying off in favor of private markets.”Perkins also critiqued the BIS’s concern around stablecoins that it could lead to “macroeconomic instability in countries like Venezuela and Zimbabwe.”“If there is demand for USD stablecoins and it helps improve the condition of anyone in the developing world, perhaps that is a good thing,” Perkins said.Source: Christopher PerkinsPerkins wasn’t alone in criticizing the controversial report. Lightspark co-founder Christian Catalini also weighed in, posting a series of critiques on X that same day. Catalini summed up the report with the analogy:“Think: writing parking regulations for a fleet of self‑driving drones — earnest work, two technological leaps behind.”Magazine: Altcoin season to hit in Q2? Mantra’s plan to win trust: Hodler’s Digest, April 13 – 19
Price predictions 4/18: BTC, ETH, XRP, BNB, SOL, DOGE, ADA, LEO, LINK, AVAX
Bitcoin (BTC) has been trading in a tight range for a few days, but a minor positive is that the bulls have kept the price above $83,000. Usually, a low volatility period is followed by a range expansion, but it is difficult to predict the direction of the breakout with certainty.Cryptocurrency analysts remain bullish on Bitcoin’s prospects because gold’s rally in 2017 and 2020 was followed by a sharp rise in Bitcoin’s price. Theya head of growth Joe Consorti said in a post on X that Bitcoin follows gold with a lag of roughly 100 to 150 days. If Bitcoin moves as per Consorti’s expectations, a new all-time high could be hit between Q3 and Q4 of 2025. On similar lines, trading and analytics account Cryptollica projected a medium-term target of $155,000 for Bitcoin.Crypto market data daily view. Source: Coin360Along with Bitcoin, analysts are also bullish on altcoins. Swiss bank Sygnum said in its Q2 2025 investment outlook that improved regulations for crypto use cases have prepared the ground for a strong altcoins rally in the second quarter, as “none of the positive developments have been priced in.”Could Bitcoin and the altcoins break above their respective overhead resistance levels and start a recovery? Let’s analyze the charts of the top 10 cryptocurrencies to find out.Bitcoin price analysisBitcoin has been trading between the 20-day exponential moving average ($83,463) and the 200-day simple moving average ($87,857), indicating a tough battle between the bulls and the bears.BTC/USDT daily chart. Source: Cointelegraph/TradingViewIf the 20-day EMA cracks, the selling could pick up, and the BTC/USDT pair may slide to $78,500 and then to $73,777. Buyers are expected to defend the $73,777 level with all their might because a break below it may signal the start of a downtrend.On the contrary, a break and close above the 200-day SMA indicates that the corrective phase may be over. The pair could climb to $95,000 and eventually to the psychologically critical level of $100,000.Ether price analysisEther (ETH) has been trading between the $1,368 support and the $1,754 resistance, indicating indecision between the bulls and the bears.ETH/USDT daily chart. Source: Cointelegraph/TradingViewThe downsloping moving averages and the RSI in the negative territory suggest a slight edge to the sellers. If the price slips below $1,471, the ETH/USDT pair could descend to $1,368. Buyers are expected to vigorously defend the $1,368 support because a break below it may sink the pair to $1,150.On the upside, the bulls are likely to face stiff resistance in the zone between the 20-day EMA ($1,676) and $1,754. A break and close above the resistance zone could propel the pair to the breakdown level of $2,111.XRP price analysisThe bears have failed to sink XRP (XRP) below the $2 support, suggesting a lack of selling pressure at lower levels.XRP/USDT daily chart. Source: Cointelegraph/TradingViewThe bulls will try to start a recovery, which could reach the 50-day SMA ($2.23). This is an essential short-term level to keep an eye on because a break above it opens the doors for a rally to the resistance line. Buyers will have to push the price above the resistance line to signal a short-term trend change.Alternatively, a break below the $2 support tilts the advantage in favor of the bears. The XRP/USDT pair could then plunge to the $1.72 to $1.61 support zone.BNB price analysisBNB (BNB) has been trading just below the downtrend line, indicating that the bulls have held on to their positions as they anticipate a breakout.BNB/USDT daily chart. Source: Cointelegraph/TradingViewIf buyers propel the price above the downtrend line, the BNB/USDT pair could pick up momentum and rally to $644. Sellers will try to defend the $644 resistance, but the bulls are expected to buy the dips to the 20-day EMA ($588). If that happens, the likelihood of a rally to $680 increases.This optimistic view will be invalidated in the near term if the price turns down from the downtrend line and breaks below $566. That could keep the pair stuck inside the triangle for some more time.Solana price analysisSolana (SOL) rebounded off the 20-day EMA ($126) on April 16 and rose above the 50-day SMA ($130), indicating buying on dips.SOL/USDT daily chart. Source: Cointelegraph/TradingViewThe SOL/USDT pair could rise to the overhead resistance at $153, where the bears are expected to mount a stiff resistance. If buyers pierce the $153 level, the pair could surge toward $180.Buyers are expected to guard the zone between the 20-day EMA and $120. If the zone gives way, it suggests that the bears are active at higher levels. The pair could then descend to the $110 support.Dogecoin price analysisDogecoin (DOGE) has been trading between the 20-day EMA ($0.16) and the crucial support at $0.14 for the past few days.DOGE/USDT daily chart. Source: Cointelegraph/TradingViewThe flattening 20-day EMA and the positive divergence on the RSI suggest reduced selling pressure. Buyers will have to drive the price above the 50-day SMA ($0.17) to gain the upper hand. The DOGE/USDT pair could climb to $0.20, an essential level to watch out for as a break above it completes a double bottom pattern.Contrarily, a break and close below the $0.14 support signals the start of the next leg of the downtrend. The pair could then plummet to $0.10.Cardano price analysisBuyers have kept Cardano (ADA) above the $0.59 support but are struggling to push the price above the 20-day EMA ($0.63).ADA/USDT daily chart. Source: Cointelegraph/TradingViewIf the price turns down and breaks below $0.59, the ADA/USDT pair could slide toward the solid support at $0.50. This is an important level for the bulls to defend because a break below it signals the resumption of the downtrend. The next support on the downside is at $0.40.Buyers will be back in the driver’s seat on a break and close above the 50-day SMA ($0.70). The pair could then rally to $0.83.Related: Bitcoin price volatility ‘imminent’ as speculators move 170K BTC — CryptoQuantUNUS SED LEO price analysisUNUS SED LEO’s (LEO) failure to rise above the uptrend line may have tempted short-term buyers to book profits.LEO/USD daily chart. Source: Cointelegraph/TradingViewThe 20-day EMA ($9.34) has started to turn down gradually, and the RSI is in the negative zone, signaling a slight edge to the bears. If the price tumbles below the immediate support at $8.95, the LEO/USD pair could retest the vital level at $8.79. A break below $8.79 could sink the pair to $8.30.This negative view will be invalidated in the near term if the price rises above the 50-day SMA ($9.56). The pair could then retest the stiff overhead resistance at $9.90. Chainlink price analysisChainlink (LINK) has been trading below the 20-day EMA ($12.77), but the bears have failed to pull the price below $11.68, signaling a lack of sellers at lower levels.LINK/USDT daily chart. Source: Cointelegraph/TradingViewThe bulls will try to push the price above the moving averages. If they manage to do that, the LINK/USDT pair could rally to $16. Sellers will try to halt the rally at $16, but the pair could reach the resistance line if the bulls prevail.If sellers want to retain the advantage, they will have to sink the price below the $11.68 support. The pair could then decline to the support line of the descending channel, which is likely to attract buyers.Avalanche price analysisAvalanche (AVAX) has been trading near the moving averages, indicating a balance between supply and demand.AVAX/USDT daily chart. Source: Cointelegraph/TradingViewThe flattish 20-day EMA ($18.97) and the RSI near the midpoint do not give a clear advantage either to the bulls or the bears. A break above the downtrend line could open the doors for a rally to the overhead resistance at $23.50. Buyers will have to overcome this barrier to start a new up move.On the downside, a break and close below $17.50 may sink the AVAX/USDT pair to $15.27. This is an essential level for the bulls to defend, as a break below $15.27 may signal the resumption of the downtrend.This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
US jobless claims hint at stability as Bitcoin reaches 'inflection point' at $85K
The latest US initial jobless claims data came at 215,000, below the estimated expectation of 225,000, on April 17. The dip in jobless claims indicated that the US labor market remained stable, with fewer people being affected by the uncertainty of US tariffs. Initial jobless claims are a leading economic indicator that measures the health of the US economy and it often impacts investor sentiment around risk assets like Bitcoin (BTC). US jobless claims data. Source: Investing.comResiliency in the labor market comes on the back of Federal Reserve Chair Jerome Powell’s recent comment about the impact of tariffs. In a press conference at the economics club of Chicago on April 16, Powell said,“The level of the tariff increases announced so far is significantly larger than anticipated. The same is likely to be true of the economic effects, which will include higher inflation and slower growth.”The Fed Reserve Chair also stated that the Fed has no plans to intervene with market bailouts or implement rate cuts in the near future. This stance aligns with his earlier comments from April 4, 2025, when he noted it was “too soon” to consider rate reductions, reflecting the Fed’s cautious approach amid ongoing economic uncertainty. However, the European Central Bank cut interest rates to 2.25% from 2.50% in order to combat economic pressure from US trade tariffs. According to data, the ECB has taken borrowing costs to its lowest level since late 2022, with the current rate cut marking its seventh reduction in a span of a year. Related: Bitcoin gold copycat move may top $150K as BTC stays ‘impressive’Bitcoin remains at an inflection point, says analystFor risk assets like Bitcoin, the recent US jobless claims data leans bearish in the short term, as a strong labour market reduces the likelihood of rate cuts, which supports speculative investments. BTC prices have consolidated in a tight range over the past few days, failing to break above the $86,000 level. In light of that, anonymous crypto trader Titan of Crypto said that Bitcoin is at an “inflection point”. Bitcoin analysis by Titan of Crypto. Source: X.comAn inflection point in trading is a critical juncture where the market’s direction or momentum may shift significantly. It’s a moment where the balance between buyers and sellers reaches a tipping point, often leading to a reversal or acceleration in the trend. The trader said,“Bitcoin Inflection Point. On the 1H chart, BTC is contracting within a triangle and is about to choose a direction. The RSI is above 50 and attempting to break its resistance. A move is brewing.”Order flow trader Magus noted that Bitcoin is consolidating between $83,700 and $85,200. For the bullish momentum to persist, BTC must break above $85,000 soon, as the long-term chart signals potential bearish risks if this level isn’t surpassed.Related: Bitcoin price levels to watch as Fed rate cut hopes fadeThis article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
TWAP vs. VWAP in crypto trading: What’s the difference?
Algorithmic trading strategies in crypto Algorithmic trading has become a go-to for many traders as it lets you automate trades based on specific rules — no emotions, no hesitation, just pure logic. These strategies can scan markets 24/7, react instantly to price movements, and handle large volumes way faster than a human ever could.Some common algo trading strategies include:Trend following: riding the wave of upward or downward momentum.Arbitrage: taking advantage of price differences across exchanges.Market making: placing buy and sell orders to profit from the spread.Mean reversion: betting that prices will return to their average over time.Now, within the world of algorithmic trading, there’s a special group called execution algorithms. These aren’t about predicting where the market is going — they’re about how to get in or out of a position without moving the market too much. They’re especially useful for handling large orders discreetly.A key subset of these is passive order execution strategies. These aim to minimize slippage and get you as close as possible to a fair average price. The two big names here are:Time-weighted average price (TWAP): splits your order into equal parts over time, ignoring volume. It’s great for low-liquidity situations or when you want to stay under the radar.Volume-weighted average price (VWAP): adjusts your trade size based on market volume, placing bigger trades when activity is higher.Both help you avoid tipping off the market and are essential tools in the crypto trader’s toolkit. What is time-weighted average price (TWAP)? TWAP, or time-weighted average price, is one of the simplest and most widely used execution strategies in algorithmic crypto trading. At its core, TWAP helps traders break down a large order into smaller trades, executed evenly over a set period of time — regardless of market volume. The goal? To get an average price that reflects time, not market activity, and to avoid causing sudden price moves.This strategy is especially useful in two scenarios: when you’re trying to quietly execute a large trade without alerting the market and when you’re trading in low-liquidity environments where even moderate orders can move prices. By pacing your trades, TWAP helps reduce slippage and keeps your activity under the radar.Its biggest strength is its simplicity — it’s easy to implement and understand. But that simplicity also comes with a tradeoff: TWAP doesn’t account for trading volume. So, during high-volatility periods or sudden market shifts, it might miss key signals and give you an execution price that doesn’t reflect the true state of the market.In short, TWAP is a great option when you need to trade steadily over time, especially in quieter markets. But if volume and volatility are major concerns, it might not always give you the best result.Did you know? You can easily add TWAP (time-weighted average price) to your trading setup on platforms like TradingView by simply opening your chart, clicking “Indicators” and searching for “TWAP.” How to calculate TWAP To calculate TWAP, you take the price of the asset at regular time intervals, add them all up, and divide by the number of times you checked the price.Here is the formula to calculate TWAP:In layman’s terms, the formula looks like this:TWAP = (Price₁ Price₂ … Priceₙ) / nLet’s walk through an example.Say you check the price of Bitcoin (BTC) every 10 minutes and get the following:90,000 → 90,100 → 89,900 → 90,050Now add them together:90,000 90,100 89,900 90,050 = 360,050Then divide by the number of intervals (4):TWAP = 360,050 ÷ 4 = 90,012.5 What is volume-weighted average price (VWAP) VWAP stands for volume-weighted average price, and it’s a go-to metric for traders who want a more realistic sense of an asset’s average price throughout the day. Unlike TWAP, which just averages prices over time, VWAP factors in how much volume was traded at each price. That means prices with more trading activity carry more weight in the final average — making it a better reflection of where the market actually values the asset.Traders often use VWAP as a benchmark. If you buy below VWAP, you’re likely getting a better-than-average deal compared to the rest of the market. It’s also handy for spotting trends — if the current price is above VWAP, the market’s probably bullish; if it’s below, that could be a bearish signal.VWAP has its advantages: It gives a more accurate picture of market value and can help identify when an asset might be overbought or oversold. But it’s not perfect. It’s more complex to calculate and can get thrown off by a few unusually large trades, which might skew the average.All in all, VWAP is a powerful tool for traders who want deeper insight into market dynamics, but like any indicator, it works best when used alongside other signals.Did you know? The term volume-weighted average price (VWAP) was first introduced to the trading community in a March 1988 Journal of Finance article titled “The Total Cost of Transactions on the NYSE” by Stephen Berkowitz, Dennis Logue, and Eugene Noser Jr. In this paper, the authors presented VWAP as a benchmark for assessing the quality of trade executions by institutional investors. How to calculate VWAP VWAP works a bit differently. Instead of treating each price equally, it gives more weight to prices where more trading volume occurs. Here is the formula to calculate VWAP:In plain terms, the formula is:VWAP = (Price × Volume at each point, all added up) ÷ Total VolumeLet’s go through an example.Say you have this data for BTC:90,000 at 10 trades90,100 at 20 trades89,900 at 5 trades90,050 at 15 tradesFirst, multiply each price by its volume:90,000 × 10 = 900,00090,100 × 20 = 1,802,00089,900 × 5 = 449,50090,050 × 15 = 1,350,750Now add those results:900,000 1,802,000 449,500 1,350,750 = 4,502,250Then calculate the total volume:10 20 5 15 = 50Finally, divide the total value by the total volume:VWAP = 4,502,250 ÷ 50 = 90,045 When to use TWAP vs. VWAP? It really comes down to what kind of trade you’re making and what the market looks like at the time.If you’re trading during busy hours and want to make sure you’re not overpaying — or underselling — compared to where most of the action is happening, VWAP is your friend. It gives you a sense of the market’s “true” average price by factoring in volume, so it’s great for benchmarking your trades or timing your entry and exit in line with market momentum. If you’re buying below VWAP, you’re likely getting a solid deal.TWAP, on the other hand, is better when you’re trying to stay under the radar. Maybe you’re dealing with a less liquid coin, or you’re trading at a quieter time of day when volume is all over the place. In that case, TWAP helps you slowly work your way into or out of a position without spooking the market. It doesn’t care about volume — it just paces your trade out over time in equal chunks.So, big picture: Use VWAP when you’re following the crowd and want to time things smartly. Use TWAP when you’d rather move quietly and keep things simple. TWAP vs. VWAP: Key differences to be aware of TWAP and VWAP in crypto trading Traders and institutions use TWAP and VWAP to minimize market impact and secure better execution prices. Let’s look at two real-world examples that show how these algorithms perform when the stakes are high.1. Strategy’s $250-million Bitcoin buy with TWAPBack in August 2020, Strategy (called MicroStrategy at the time) made headlines by announcing a $250-million investment in Bitcoin (BTC) as a treasury reserve asset. Rather than entering the market all at once — and risking a sharp price jump — they partnered with Coinbase and used a TWAP strategy. By spreading the purchase out over several days, Strategy was able to blend into market activity, minimizing slippage and securing a favorable average price.2. Definitive’s TWAP strategy for Instadapp (INST)A major crypto VC firm used TWAP to handle a large position in Instadapp (INST), a decentralized finance token known for its low liquidity. Over two weeks in July 2024, it executed the trade in small chunks using Definitive’s TWAP algorithm. The result was a 7.5% improvement over what it would’ve paid using VWAP, and gas fees made up just 0.30% of the $666,000 order. It was a clear win in terms of both cost-efficiency and stealth execution.3. Kraken Pro and the use of VWAPKraken offers advanced trading capabilities through its Kraken Pro platform, which includes VWAP as a built-in technical indicator for traders. On Kraken Pro, users can access VWAP directly in the charting interface, powered by TradingView integration, to analyze crypto assets across various timeframes.For instance, a trader on Kraken Pro might use VWAP to optimize a Bitcoin trade. They could set up an order to buy BTC when the price dips below the daily VWAP — indicating it’s trading below the volume-weighted average and potentially undervalued — and sell when it rises above, suggesting overvaluation or profit-taking opportunities. Institutional clients and high-volume traders, in particular, rely on Kraken’s VWAP functionality for precision in the fast-moving crypto market.Whether you’re managing a big order or just trying to get a fair entry, knowing when and how to use both TWAP and VWAP can give you a serious edge in the market.Happy crypto trading!
ENS founder warns of Google spoof that tricks users with a fake subpoena
The founder and lead developer of Ethereum Name Service has warned his X followers of an “extremely sophisticated” phishing attack that can impersonate Google and trick users into giving out login credentials. The phishing attack exploits Google’s infrastructure to send a fake alert to users informing them that their Google data is being shared with law enforcement due to a subpoena, ENS’ Nick Johnson said in an April 16 post to X. “It passes the DKIM signature check, and GMail displays it without any warnings – it even puts it in the same conversation as other, legitimate security alerts,” he said. The fake subpoena appears to be from a Google no-reply domain. Source: Nick JohnsonAs part of the attack, users are offered the chance to view the case materials or protest by clicking a support page link, which uses Google Sites, a tool that can be used to build a website on a Google subdomain, according to Johnson. “From there, presumably, they harvest your login credentials and use them to compromise your account; I haven’t gone further to check,” he said.The Google domain name gives the impression it’s legit, but Johnson says there are still telltale signs it’s a phishing scam, such as the email being forwarded by a private email address. Scammers exploit Google systems In an April 11 report, software firm EasyDMARC explained that the phishing scam works by weaponizing Google Sites. Anyone with a Google account can create a site that looks legitimate and is hosted under a trusted Google-owned domain.They also use the Google OAuth app, where the “key trick is that you can put anything you want in the App Name field in Google,” and use a domain via Namecheap that allows them to “put no-reply@google account as From address and the reply address can be anything.”Source: Nick Johnson “Finally, they forward the message to their victims. Because DKIM only verifies the message and its headers and not the envelope, the message passes signature validation and shows up as a legitimate message in the user’s inbox — even in the same thread as legit security alerts,” Johnson said. Google deploying countermeasures soon Speaking to Cointelegraph, a Google spokesperson said they are aware of the issue and are shutting down the mechanism that attackers are using to insert the “arbitrary length text,” which will prevent the method of attack from working in the future. Related: Hackers hide crypto address-swapping malware in Microsoft Office add-in bundles“We’re aware of this class of targeted attack from the threat actor, Rockfoils, and have been rolling out protections for the past week. These protections will soon be fully deployed, which will shut down this avenue for abuse,” the spokesperson said. “In the meantime, we encourage users to adopt two-factor authentication and passkeys, which provide strong protection against these kinds of phishing campaigns.” The spokesperson added that Google will never ask for any private account credentials — including passwords, one-time passwords or push notifications, nor call users. Magazine: Your AI ‘digital twin’ can take meetings and comfort your loved ones
Public mining firms sold over 40% of their BTC in March — Report
Publicly listed Bitcoin miners sold over 40% of the collective coins mined in March, representing the largest monthly BTC liquidation for mining firms since October 2024 and reversing the post-halving trend of accumulating Bitcoin (BTC) for a corporate treasury strategy, according to TheMinerMag, which screened data from 15 publicly traded mining companies.The increased liquidations come amid widespread macroeconomic uncertainty in financial markets and the business sector, likely signaling that companies are selling their BTC to reduce shortfalls caused by the current economic climate.Mining firms offloading BTC to cover operational expenses contributes to selling pressure on the cryptocurrency, which can result in a price volatility. According to CoinGlass, Bitcoin posted a 2.3% loss in March, following a 17.39% correction the previous month. Related: CleanSpark to start selling Bitcoin in ‘self-funding’ pivotMiners struggle amid macroeconomic turmoil High costs, operational hurdles, and fierce competitiveness within the Bitcoin mining industry are amplified by the effects of a trade war on businesses, financial markets, and global supply chains.Kristian Csepcsar, chief marketing officer at BTC mining service provider Braiins, recently told Cointelegraph that producing all of the hardware components used for mining BTC in the United States is not possible.US President Donald Trump’s tariff policies will impact all aspects of the supply chain, making components and business-to-business services more expensive, eroding miner profitability, Csepcsar said.Trump’s threats of taxing energy imports also added to the uncertainty facing some US-based mining firms, as energy costs are a critical input in determining profit margins for miners.Hashlabs CEO Jaran Mellerud predicted that higher costs from trade tensions may benefit mining firms outside the US as hardware manufacturers and resellers offload equipment originally meant for US customers to other jurisdictions at lower prices.”Importing machines to the US will now cost at least 24% more compared to tariff-free countries like Finland,” Mellerud wrote in an April 8 X post.The executive concluded that mining Bitcoin in the US will become economically unfeasible if 24% tariffs are levied on mining components. Mellerud also predicted US firms would gradually lose market share as a result of the tariffs.Magazine: AI may already use more power than Bitcoin — and it threatens Bitcoin mining
Hacker mints $5M in ZK tokens after compromising ZKsync admin account
A hacker compromised a ZKsync admin account on April 15, minting $5 million worth of unclaimed airdrop tokens, according to a statement from the official ZKsync X account. The attack was described as isolated, with no user funds affected.Following an investigation, ZKsync detailed the incident on April 15, disclosing that the compromised account had administrative control over three airdrop distribution contracts. The attacker exploited a function called sweepUnclaimed() to mint 111 million unclaimed ZK tokens, increasing the total token supply by 0.45%. As of the latest update, the attacker still held control of most of the stolen funds.Source: ZKsyncZKsync is coordinating recovery efforts with the Security Alliance (SEAL). According to the protocol, its governance and token contracts are unaffected. The company stated that no further exploits are possible via the “sweepUnclaimed()” vector.ZKsync is an Ethereum layer-2 protocol that processes main-layer transactions in batches using a technology called zero-knowledge rollups. The ZKsync Era platform has $57.3 million in total value locked as of April 15, according to DefiLlama. ZKsync had been in the process of airdropping 17.5% of its token supply to ecosystem participants.Related: DeFi platform KiloEx offers $750K bounty to hackerZK token drops 7% in 24-hour trading ZKsync’s token, ZK (ZK), saw volatile price action in the wake of the hack and the project’s public disclosure on X. Around 1:00 pm UTC, the token had dropped 16%, falling to $0.040 before rebounding to $0.047 at the time of writing. Despite the bounce, ZK remains down 7% over the past 24 hours.Overall, $2 billion has been lost to crypto hacks in the first quarter of 2025 alone, just $300 million less than the total lost in 2024.Magazine: Lazarus Group’s favorite exploit revealed — Crypto hacks analysis
3iQ’s Canadian Solana ETF selects Figment as staking provider
Blockchain infrastructure provider Figment has been selected as the staking provider for 3iQ’s newly approved Solana exchange-traded fund (ETF), underscoring Canada’s continued efforts toward adoption of digital asset financial products.Figment will enable institutional staking for the 3iQ Solana (SOL) Staking ETF, which launches on the Toronto Stock Exchange on April 16 under the ticker SOLQ, the companies said in a statement. In addition to 3iQ, Figment provides staking infrastructure solutions to more than 700 clients. The Ontario Securities Commission (OSC), a provincial regulator, green-lighted 3iQ’s SOL fund on April 14. The approval was also extended to other fund managers seeking to offer SOL ETFs, including Purpose, Evolve and CI.As Bloomberg ETF analyst Eric Balchunas reported at the time, the funds are permitted to stake a portion of their SOL holdings through TD Bank, Canada’s second-largest financial institution by assets. Source: Eric Balchunas3iQ estimates that its SOL fund will provide yields of between 6% and 8%, according to its website. Related: Solana, XRP ETFs may attract billions in new investment — JPMorgan3iQ leads Canadian crypto ETFs as US regulators drag their feetAs US regulators continue to consider various crypto-related fund offerings, Canada has been leading the curve in adoption going back to 2021. That was the year that 3iQ debuted its spot Bitcoin (BTC) ETF, which crossed $1 billion in net assets almost immediately. It would take nearly three more years before spot Bitcoin ETFs were approved in the United States. Like their Canadian counterparts, the US ETFs saw overwhelming success in their first year, generating more than $38 billion in net inflows.In October 2023, 3iQ launched an ETF tied to Ether (ETH), giving investors direct access to the smart contract platform. Unlike the Ether ETFs that US regulators approved the following year, 3iQ’s fund offers staking rewards. As Cointelegraph recently reported, US regulators may be on the cusp of approving staking rewards after they authorized exchanges to list options contracts tied to ETH.Source: James SeyffartRelated: SEC delays staking decision for Grayscale ETH ETFs
Should Bitcoin investors worry about flat inflows to the spot BTC ETFs?
Spot Bitcoin (BTC) exchange-traded funds saw a total of $872 million in net outflows between April 3 and April 10, causing traders to wonder if overall interest in Bitcoin is fading. The strong selling pressure began on April 3, as global trade tensions increased and fears of an economic recession grew. This trend is especially concerning after two days of spot Bitcoin ETF net flows below $2 million on April 11 and April 14.Spot Bitcoin ETFs aggregate net flows, USD. Source: CoinGlassBitcoin’s price has remained relatively stable near $83,000 for the past five weeks, which further suggests weak interest from both buyers and sellers. On one hand, this lack of volatility could show that Bitcoin is becoming a more mature asset class. For example, several S&P 500 companies have dropped 40% or more from their all-time highs, while Bitcoin’s largest drawdown in 2025 was a healthier 32%.However, Bitcoin’s performance has disappointed those who believed in the “digital gold” narrative. Gold has gained 23% so far in 2025, reaching an all-time high of $3,245 on April 11. Even though Bitcoin outperformed the S&P 500 by 4% over the past 30 days, some investors worry that its appeal is fading, as it is currently uncorrelated with other assets and not acting as a reliable store of value.Average Bitcoin ETF volume surpasses $2 billion per dayWhen looking at the spot Bitcoin ETF market—especially compared to gold—Bitcoin has some advantages. On April 14, spot Bitcoin ETFs had a combined trading volume of $2.24 billion, which is 18% below the 30-day average of $2.75 billion. So, it would not be accurate to say that investor interest in these products has disappeared.Spot Bitcoin ETFs daily volumes, USD. Source: CoinGlassWhile Bitcoin ETF volumes are lower than the $54 billion per day traded by the SPDR S&P 500 ETF (SPY), they are not far behind gold ETFs at $5.3 billion and are ahead of US Treasurys ETFs at $2.1 billion. This is impressive, considering that spot Bitcoin ETFs in the US only launched in January 2024, while gold ETFs have been trading for over 20 years and have $137 billion in assets under management.Even when including the Grayscale GBTC Trust, which surpassed 200,000 shares traded per day in 2017 before it was converted to an ETF, Bitcoin investment products are still less than eight years old. Currently, spot Bitcoin ETFs hold about $94.6 billion in assets under management, which is more than the market capitalization of well-known companies such as British American Tobacco, UBS, ICE, BNP Paribas, Cigna, Sumitomo Mitsui and several others.Related: Bitcoin shows growing strength during market downturn — WintermuteRanking of tradable assets by market capitalization, USD: Source: 8marketcapTo see how spot Bitcoin ETFs have become established in the industry, one can look at the top holders of these products. These include well-known names like Brevan Howard, D.E. Shaw, Apollo Management, Mubadala Investment, and the State of Wisconsin Investment. From pension funds to some of the world’s largest independent asset managers, Bitcoin ETFs provide an alternative to traditional assets, regardless of short-term price movements.As the asset class grows and more products like futures and options are listed, Bitcoin may eventually be included in global indexes, whether in the commodities or currencies category. This could lead passive funds to invest, increasing both price potential and trading volume. Therefore, the current lack of strong net inflows or outflows is not unusual and should not be seen as a sign of weakness.This article is for general information purposes and is not intended to be and should not be taken as legal or investment advice. The views, thoughts, and opinions expressed here are the author’s alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.