The crypto market saw strong divergence amid macroeconomic uncertainty driven by U.S.-China tariff talks and FED commentary. Total market cap reached ~$2.75 trillion. Let’s check it out from this daily market recap.
- Bitcoin (BTC): Up 0.5%, trading around $84,500, with trading volume hitting $12.5 billion.
- Solana (SOL): Led top 10 coins by market cap with a 4% gain, trading between $133-$180.
- Top Altcoins: STRAX (+66%), WCT (+38%), and BSW (+27%) topped Binance gainers; WCT surged >100% after Upbit listing.
- Base shilled a memecoin “Base is for everyone”, followed by a sharp crash, and then a strong rebound.
- Raydium launched LaunchLab to target Pump.fun in the Solana token race.
Daily Market Recap – Key Events
ETF Flows
- U.S. BTC ETFs saw $76.9M in inflows (April 16), ending a negative streak.
- ETH ETFs continued outflows at -$14.2M, reflecting caution.
- World’s first SOL Staking ETF launched in Canada (listed in Toronto, April 16), boosting SOL’s price.
Macro-Policy
- U.S. negotiating with 70+ countries to restrict China’s goods transit, per WSJ.
- FED Chair Jerome Powell warned new tariffs could raise inflation and slow growth.
Coin & Project Updates
- $BTC: Anthony Pompliano predicts BTC will outpace gold (both up ~35% in the past year). U.S. lawmakers exploring BTC purchases for national reserves.
- $SOL: Janover holds $21.2M in SOL, signaling institutional confidence.
- $WCT/INIT: Upbit listing for WCT and Binance Futures pre-market contract for Initia.
- $WLFI: DWF Labs invested $25M in Trump’s DeFi project, supporting USD1 stablecoin.
- $ENA: Ethena Labs shuts German entity, halts MiCAR license application.
- $BNB: BNB Chain burned ~$1B in BNB, reducing supply.
- $EGG: 100% crack but nothing showed until now.
The crypto market showed resilience with BTC and SOL leading, while select altcoins posted sharp gains. Macro risks from tariffs and inflation remain key concerns. Investors should monitor ETF flows and global policy developments.
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