1. Popular currencies on CEX
CEX top 10 trading volume and 24-hour rise and fall:
BTC: +2.83%
ETH: +3.56%
XRP: +1.29%
SOL: +0.89%
BNB: +0.22%
DOGE: +3.28%
SUI: +5.2%
PEPE: +3.98%
ACT: -61.75%
ADA: +1.71%
24 H increase list (data source: OKX):
COMP: +22.41%
ULTI: +14.36%
MEW: +13.05%
EOS: +11.34%
BONK: +10.64%
PENDLE: +9.22%
RENDER: +7.05%
MKR: +5.97%
CRO: +5.74%
RIO: +5.71%
2. Top 5 popular memes on the chain (data source: GMGN ):
Fartcoin
ELON
ANIME
BUPS（BNB Chain ）
titcoin
3. 24-hour hot search currencies
PUMP: PUMP is the official token of PumpBTC and the exclusive TGE project of the seventh Binance Wallet. The current market value is 14.56 million US dollars.
ELON: ELON is a meme coin on the Solana chain. Its goal is to use Musks meme culture to drive community interaction. It wants to be applied to scenarios such as social rewards and community incentives through the low-cost and fast Solana network. The current market value is 11 million US dollars.
Headlines
Binance official account @BinanceHelpDesk responded to users on the X platform. According to the announcement, the incident was mainly caused by three VIP users selling tokens worth about $514,000 in the spot market, and a non-VIP user transferring in and quickly selling ACT tokens worth $540,000 from an external platform. The related selling behavior triggered the forced liquidation of some futures contracts and caused a chain reaction in the market.
Binance said that after investigation, no single account was found to have made large profits through this incident. Since all relevant tokens have been circulated in the secondary market, the platform cannot interfere with normal market transactions. To prevent risks, Binance has recently proactively lowered the leverage multiple of the ACT/USDT perpetual contract and emphasized that it will continue to improve market liquidity through the market maker program.
According to previous news, ACT crashed 50% in a short period of time, which caused heated discussions in the community.
SEC Crypto Task Force to Hold Four Roundtables
After the first roundtable meeting, the U.S. Securities and Exchange Commission (SEC) Cryptocurrency Task Force announced that it will hold four more meetings in the first half of this year to discuss topics such as crypto trading, custody, asset chaining, and decentralized finance. The time and topics of the four meetings are as follows:
April 11th “Between Blockchain and Regulation: Tailoring Rules for Crypto Transactions”;
April 25 “Know Your Custodian: Key Considerations for Crypto Asset Custody”;
May 12th: “Assets on-chain: The intersection of traditional finance and DeFi”;
June 6, “DeFi and the American Spirit.”
“These roundtables allow us to hear expert perspectives, identify regulatory challenges, and explore the SEC’s response,” said Commissioner Hester M. Peirce, who leads the task force. All roundtables will be live-streamed to the public.
The U.S. Treasury and other federal agencies are expected to disclose their holdings of Bitcoin and other crypto assets on April 5 to comply with President Trump’s recent directive. Whether digital assets previously mentioned by Trump, such as XRP, SOL and ADA, will be included in the national digital asset reserves will also be clarified soon. David Bailey, CEO of BTC Inc, said that the audit results may reveal the reasons for Bitcoin’s recent price movements.
According to a presidential document published on March 11, all federal agencies must report their holdings of Bitcoin and other digital assets to the Secretary of the Treasury within 30 days of the order. The Secretary of the Treasury was also instructed to establish two offices to manage digital assets held by the government. The Strategic Bitcoin Reserve will store Bitcoin obtained through criminal or civil forfeiture and will not sell Bitcoin.
Industry News
The Trump team is finalizing the tariff plan before the release of the trade policy on April 2, and is currently considering launching a third compromise option: imposing a uniform tariff rate on some countries, which is expected to be lower than the 20% general tariff previously discussed.
Previously, Trump had considered imposing a 20% uniform tariff on almost all imported goods, or implementing a reciprocal tariff mechanism based on national differences. However, this extreme proposal was opposed by industry and union groups, and some Republican senators also expressed their possibility of supporting a Democratic proposal that challenges the presidents emergency tariff authority.
Grayscale files for S-3 registration for its Digital Large Cap Fund, plans to launch ETF
According to the SECs official website, Grayscale submitted an S-3 form on April 1, planning to register its Grayscale Digital Large Cap Fund as an exchange-traded fund (ETF)
Bitcoin Policy Institute proposes issuing “BitBonds” to support Trump’s strategic Bitcoin reserve
The Bitcoin Policy Institute proposed issuing a new type of Treasury bond, BitBonds, to support the Trump administrations strategic Bitcoin reserve plan. The bond will offer an annual interest rate of 1% (lower than the 4.5% interest rate of ordinary Treasury bonds) and will use 10% of the proceeds to purchase Bitcoin.
According to the plan, if BitBonds worth $2 trillion are issued, $700 billion in interest can be saved in ten years. The US government currently holds about 200,000 bitcoins (worth $17 billion). After deducting the part that needs to be returned, the initial size of the strategic reserve is about 103,500 bitcoins.
The plan aims to achieve budget-neutral Bitcoin holdings while reducing the cost of national debt. The Minister of Finance will evaluate the feasibility of this plan within 60 days.
BlackRock receives approval from UK regulator to operate as a crypto asset firm
BlackRock has received approval from UK regulators to operate as a crypto asset firm.
VANECK Registers BNB ETF in Delaware
Market news shows that asset management agency VANECK has registered the VANECK BNB ETF in Delaware, indicating its intention to launch a BNB-linked exchange-traded fund product in the United States.
Project News
Binance C2C adjusts T+1 withdrawal mechanism
According to the official announcement, Binance C2C will adjust the T+1 withdrawal plan starting from April 1, 2025. Specifically:
Binance will increase the T+0 withdrawal limit for all users by $1,000 in assets on top of the existing T+1 withdrawal mechanism.
If the user does not have any assets in his Binance account, no matter how much he buys on the day, he can only withdraw assets worth up to 1,000 USD on the day of purchase. The remaining assets can only be withdrawn 24 hours after the order is completed.
If the user already has assets in his Binance account, in addition to the original C2C T+1 withdrawal limit, an additional T+0 withdrawal limit of USD 1,000 worth of assets will be added;
Any Trading Star user who buys any amount of cryptocurrency on C2C will not be subject to the T+1 withdrawal limit.
Binance will list KERNEL as the fourth Megadrop project
According to the official announcement, Binance announced that the fourth Megadrop project is KernelDAO (KERNEL), which is a re-staking protocol that supports Kernel, Kelp and Gain. The maximum supply of KERNEL is 1 billion, and the Megadrop reward is 40 million (4% of the total supply). The initial circulation is 162.3 million (16.23%). The specific launch time and details will be announced separately within a week.
Benson Sun, founder of Coinkarma, wrote an analysis on the X platform, saying, “At 18:30 today, ACT suddenly crashed by 50%. The reason was that Binance adjusted the leverage position limit of ACT. The maximum position that can be opened with a leverage of 1x is 4.5 million US dollars. Some market makers’ positions exceeded the limit and were directly closed at the market price. After the contract price collapsed, there was a huge price gap with the spot price, and the spot price also collapsed.
Binance released the announcement at 15:32 on April 1, and it took effect at 18:30 on April 1, giving users less than 3 hours to react. What’s even more outrageous is that Binance had already released an announcement on March 31 to modify the position limit of ACT, and on April 1, the position limit for low leverage was cut by another 50%.
Before changing the rules, Binance should first assess how many positions will be liquidated. If there are market makers with large positions, they should also notify them in advance. As an industry leader, I hope Binance can handle this incident properly.”
Circle files S-1 for listing on NYSE under ticker symbol CRCL
Circle has filed an S-1 with the U.S. Securities and Exchange Commission (SEC) for an initial public offering (IPO) under the ticker symbol “CRCL” and is expected to be listed on the New York Stock Exchange. The IPO pricing range has not yet been announced.
GameStop Completes $1.5 Billion Convertible Bond Issuance and May Launch Bitcoin Allocation Plan
GameStop (GME) has completed the full subscription of its $1.3 billion five-year convertible notes. Together with the over-allotment, the total funds raised reached $1.5 billion, with net proceeds of $1.48 billion after deducting fees.
Previously, GameStop disclosed in its latest financial report that its board of directors has approved an updated investment policy and plans to include Bitcoin in its balance sheet. The market expects that the company has already started or is about to start Bitcoin asset allocation.
Investment and Financing
Cambrian Network Completes $5.9 Million Seed Round, Led by a16z CSX
AI infrastructure protocol Cambrian Network announced that it has completed a $5.9 million seed round of financing, led by a16z Crypto Startup Accelerator (CSX) and participated by BB Fund. Cambrian aims to build an intelligent infrastructure for AI financial agents, enabling AI agents to make smarter market forecasts and financial decisions by integrating on-chain and off-chain data. The project was founded by former members of The Graph and Semiotic Labs, and has now started private testing and plans to launch a test network.
Character*Voice
Arthur Hayes, co-founder of BitMEX, reiterated his long-term bullish stance on Bitcoin in his latest blog. He said that the core of Bitcoin pricing lies in technology + fiat currency liquidity, there are no major changes in the current technical level, and the market mainly trades around the expectation of future fiat currency supply.
Hayes believes that if the Fed really shifts from quantitative tightening (QT) to quantitative easing (QE), then Bitcoin has bottomed out near $76,500. He said that although the U.S. stock market may fall due to tariffs, downward revisions to corporate earnings expectations or weak overseas demand, Bitcoin is still expected to continue to rise and challenge $250,000 by the end of the year.
Zach Pandl, head of Grayscale research, said that the negative impact of tariffs on cryptocurrencies may have been priced in by the market, and the worst stage may have passed. He believes that if the tariff policy announced by Trump on April 2 is tough but implemented in stages and focused on 15 target countries, the market may rebound, and the crypto market may also refocus on positive fundamentals. In addition, Pandl also pointed out that tariffs will increase the markets interest in non-US dollar assets, which is good for alternative currency assets including Bitcoin.
