This week’s Highlights ⚡
- Trump-fueled rally!
- New Microstrategy competitor.
- Initia mainnet launch!
This Week’s Highlight: Crypto Rally!
Trump’s tariff shenanigans have been wrecking all kinds of markets, especially crypto. On April 9, Trump announced a 90-day pause on all tariffs for all countries, except China. This led to pumps across equities and crypto. BTC pumped to $83k on the news but closed red on the next day.
Recently, on April 22, Trump and Bessent said that they won’t fire Powell and hinted at de-escalating the situation with China. The market was euphoric with the news. BTC pumped +6.7%, ETH +11%, and other altcoins such as ZEREBRO closed with triple-digit gains.
Memecoins and several AI agents tokens, such as ZEREBRO, ARC, ALCH, FARTCOIN, and POPCAT, all had significant pumps after Trump’s positive news. In majors, SUI pumped almost 80% since the Trump news and its ecosystem tokens such as DEEP rose even higher.
Market Update
Weekly winners and losers:
Memecoins and AI agents protocols lead this week’s winners. TURBO, MYRO, and ZEREBRO lead the week. Additionally, with SUI soaring 100% within a week, its ecosystem tokens such as DEEP and SCA experience an even significant price rise.
Crypto Fear and Greed Index returns to 61 (greed) for the first time in a few weeks.
After rallying since April 7, the altcoin market cap finally shows signs of weakness. The OTHERS/USDT chart below is trying to break through the 100-day EMA (orange line). If this is flipped into support, we can probably at least expect sideways movement for altcoin.
Crypto Alpha, News, and Analysis
1. Twenty One Capital
Tether’s CEO, Paolo Ardoino, announces Twenty One Capital, a Bitcoin investment company launching with over 42,000 BTC with the intention to accumulate Bitcoin for its investors. This initiative is a cooperation between Tether, Soft Bank, Cantor, and Bitfinex. Jack Mallers will head the fund.
This is essentially following the Michael Saylor strategy, and it remains to be seen what Twenty One will do differently compared to Microstrategy.
2. Sui Ecosystem Leading
Tokens of the Sui and Sonic ecosystem are outperfoming other L1 and L2 ecosystems. In Sui, DEEP leads the ecosystem’s token performance with over 100% within a week.
3. Initia Launch
Initia finally launched its mainnet on April 24. The mainnet is also accompanied by the INIT coin launch and airdrop (albeit only 5%). Proponents of fair allocation will also have concerns as INIT’s tokenomics also skew towards investors andthe team.
4. Bittensor Ecosystem Spotlight
Recently, Bittensor has been the focus of the crypto community in the AI sector. Bittensor’s dTAO upgrade encourages traders and investors alike to speculate onthe subnet’s token.
TAO has been up more than 100% over the past 18 days. Additionally, subnet tokens such as Gradients, Templar, Nova, and Apex are up more than 100% over the past month. With TAO staking, Bittensor’s participants are encouraged to be even more active in the ecosystem.
5. $SKATE Aidrop from Kaito Yaps
Potential $Skate airdrop for Kaito yaps:
What to Do Next?
After weeks of weakness, the market finally held up and showed its strength. As happened before, memecoins are usually the strongest during each relief pump. What’s next is to see if the pump was just a temporary relief pump because of Trump, or a start to recovery for BTC and altcoins.
Investors and traders can look for strength in some sectors such as memecoins, DeFi, AI, etc. Coins suffering from drawdown such as HYPE have also been showing strength in the market. With volatility finally dying down, there is a genuine feeling that the market will finally get better.
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