Between Oct. 25, 2024, and Jan. 16, 2025, XRP (XRP) had one of the best rallies of the current bull market, gaining 600% as investors piled in with the hope that a pro-crypto presidency would benefit Ripple and its cryptocurrency.
During this time, the quarterly average of daily active addresses jumped by 490% and XRP price hit a 7-year high.
Fast forward to the present, and data shows that the speculative interest surrounding XRP is declining. Holders are increasingly facing losses rather than gains, which is dampening their risk appetite.
“Retail confidence in XRP may be slipping”
Since bottoming in 2022, Bitcoin (BTC) and XRP have gained 500% to 600%, but the bulk of XRP’s gains came from a parabolic price increase. Data from Glassnode shows that XRP daily active addresses jumped by 490%, whereas the same metric for Bitcoin increased by 10% over the past four months.
XRP’s new investor realized the cap. Source: Glassnode
This retail-driven surge pushed XRP’s realized cap from $30.1 billion to $64.2 billion, with $30 billion of that inflow coming from investors in the last six months. The share of XRP’s realized cap held by new investors (less than six months) jumped from 23% to 62.8%, signaling a rapid wealth shift. However, since late February 2025, capital inflows have dipped significantly.
XRP realized profit/loss ratio. Source: Glassnode
The primary reason is that investors are currently locking in fewer profits and staring at higher losses. This can be identified by the realized loss/profit ratio, which has constantly declined since 2025. Glassnode analysts said,
“Given the retail-dominated inflows and largely concentrated wealth in relatively new hands, this alludes to a condition where retail investor confidence in XRP may be slipping, and this may also be extended across the broader market.”
Besides weakening confidence among newer investors, the distribution of XRP among whale addresses reflects a similar trend. Data shows a steady increase in whale outflows since the start of 2025, suggesting that large holders have been consistently trimming their positions. Over the past 14 days, over $1 billion in positions were offloaded at an average price of $2.10.
XRP has found support at $2 multiple times over the past few weeks, but the chance of the altcoin dropping below this level increases with each retest.
However, on the lower time frame (LTF) of the 1-hour and 4-hour charts, a bullish divergence can be observed for XRP. A bullish divergence occurs when the price forms a lower low and the relative strength index (RSI) forms a lower high.
With a fair value gap between $2.08 and $2.13, XRP might see a relief rally into this range, especially if the wider crypto market undergoes an oversold bounce. On the higher time frame chart, XRP appears bearish due to the formation of an inverse head-and-shoulders pattern, with a measured target near $1.07.
There is a chance that the altcoin finds support from the 200-day moving average (orange line) around the $1.70 to $1.80 mark, but XRP price has not tested this level since Nov. 5, 2024.
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.
On-chain data analytics firm Glassnode has identified an intriguing shift in retail investor preference, spotlighting XRP as a focal point of speculative interest. The findings, which come from Glassnode’s newly published report titled “Rippling Away,” reveal that while Bitcoin market indicators edge closer to a bearish zone, XRP has seen remarkable inflows of capital and user activity—albeit with signs of waning momentum.
According to Glassnode’s report, Bitcoin has been consolidating between the $76,000 and $87,000 price range. Indicators such as the Realized Profit/Loss Ratio are showing “signs of near-term seller exhaustion but not yet a renewal of sustained bullish momentum.”
Furthermore, a longer-term on-chain “Death-Cross” suggests the market’s current weakness could persist for some time. “Supply in loss remains elevated at 4.7M BTC,” the report states, underlining the depth of investor stress. These conditions, as Glassnode notes, paint a picture of “deepening bearish conditions” for the leading cryptocurrency.
Retail Flocks To XRP
In contrast to Bitcoin’s cautionary signals, Glassnode points to XRP as a proxy for heightened retail speculation this cycle. The report highlights: “For this cycle in particular, Ripple (XRP) has been a preferred asset for trade amongst retail investors, and studying its behavior can, therefore, serve as a proxy for measuring retail speculative demand.”
From the 2022 cycle low, XRP’s daily active addresses have “jumped by +490%” on a quarterly average basis, while Bitcoin’s rose by only 10%. This sharp divergence underscores the retail community’s enthusiasm for XRP, which Glassnode views as indicative of broader speculative appetite in the market.
The enthusiasm for XRP translated into a near-doubling of its Realized Cap—leaping from $30.1 billion to $64.2 billion during its rally from December 2024 to early 2025. Glassnode estimates that approximately $30 billion of this new capital came in over the last six months, pointing to a fresh wave of market participants.
Alongside the short surge in capital flows, there’s been a rapid concentration of wealth in the hands of new investors,” the report explains. However, Glassnode also warns: “When viewed together with the heavy retail participation, this sharp uplift in new holders raises caution signs.”
Glassnode warns that these new investors are vulnerable to downside volatility, especially as XRP’s cost basis becomes more top-heavy. Thus, despite initial excitement, the report notes a cooling of speculative interest since late February 2025.
Glassnode’s Realized Loss/Profit Ratio for XRP has declined steadily since January 2025, suggesting a slip in profitability and “waning confidence.” This might reflect a more fragile market structure, where large swaths of relatively new holders face mounting paper losses.
“The XRP market is showing signs of a top-heavy structure, with many investors caught on a relatively high-cost basis,” the report adds. This fragility in XRP’s positioning could also imply broader caution for retail-driven altcoin markets.
Overall, Glassnode’s latest research underscores the dichotomy in today’s digital asset landscape. While Bitcoin’s drift below $80,000 spurred increased losses for long-term holders, XRP’s meteoric rise and subsequent slowdown depict a market driven by short-term retail enthusiasm that may be approaching saturation.
“For more speculative assets like XRP, demand may have already peaked,” the report concludes, “suggesting caution may be warranted until signs of a robust recovery start to emerge.”
Economic uncertainty and a major crypto exchange hack pushed down the total value locked in decentralized finance (DeFi) protocols to $156 billion in the first quarter of 2025, but AI and social apps gained ground with a rise in network users, according to a crypto analytics firm.
“Broader economic uncertainty and lingering aftershocks from the Bybit exploit” were the main contributing factors to the DeFi sector’s 27% quarter-on-quarter fall in TVL, according to an April 3 report from DappRadar, which noted that Ether (ETH) fell 45% to $1,820 over the same period.
Change in DeFi total value locked between Jan. 2024 and March 2025. Source: DappRadar
The largest blockchain by TVL, Ethereum, fell 37% to $96 billion, while Sui was the hardest hit of the top 10 blockchains by TVL, falling 44% to $2 billion.
Meanwhile, blockchains that experienced a larger volume of DeFi withdrawals and had a smaller share of stablecoins locked in their protocols faced extra pressure on top of the falling token prices.
The newly launched Berachain was the only top-10 blockchain by TVL to rise, accumulating $5.17 billion between Feb. 6 and March 31, DappRadar noted.
Market fall didn’t stunt AI and social app user growth
However, the number of daily unique active wallets (DUAW) interacting with AI protocols and social apps increased 29% and 10%, respectively, in Q1, while non-fungible token and GameFi protocols regressed, DappRadar’s data shows.
The monthly average of DUAWs interacting on the AI and social protocols rose to 2.6 million and 2.8 million, while DeFi and GameFi protocols fell double-digits.
DappRadar said there was “explosive growth” in AI agent protocols, stating that they’re “no longer a concept.”
“They’re here, and they’re shaping new user behaviors,” said the firm.
Change in DeFi total value locked between Jan. 2024 and March 2025. Source: DappRadar
Meanwhile, NFT trading volume fell 25% to $1.5 billion, with OKX’s NFT marketplace taking in the most sales at $606 million, while OpenSea and Blur saw $599 million and $565 million, respectively.
Pudgy Penguins NFTs were the most sold collectibles at $177 million, while CryptoPunks NFTs netted $63.6 million from just 477 sales, DappRadar noted.
“When analyzing top collections, CryptoPunks remains a staple — its prestige remains intact even as price fluctuations make it largely inaccessible for the average user.”
The Dogecoin price has been defying broader market weakness by establishing a series of higher lows. Amidst the market downturn, technical indicators suggest that Dogecoin could be setting the stage for an explosive rally, with analysts predicting a 270% surge to a new price high.
Dogecoin Price Prepares For 270% Surge
A Dogecoin price chart shared by crypto analyst Javon Marks reveals a critical shift in momentum. Following a prolonged downtrend that saw the meme coin’s price crash to significant lows, Dogecoin has now broken out of a descending trendline, signaling the potential end of its bear cycle.
Since reaching a cycle low, Dogecoin has consistently posted higher lows — a common sign of growing buying pressure and a steady uptrend. Following the formation of its latest higher low, Marks believes that DOGE is now positioned in a bullish set-up.
Historically, similar patterns have preceded parabolic moves in the Dogecoin price, suggesting that the meme coin could be gearing up for an uptrend continuation. According to Marks‘ analysis, if Dogecoin follows the established trend, the next impulsive wave could push its price to $0.653, marking an explosive 270% surge.
While past higher low formations support the likelihood of the analyst’s projected rally, Dogecoin’s recent breakout from the descending trendline reinforces its bullish structure. Marks also suggests that a climb to the $0.63 level could serve as a launchpad for Dogecoin, potentially driving its price even higher to $1.25 if its momentum persists.
Despite the ongoing market volatility, DOGE continues to hold key support levels as it eyes a fresh breakout. Notably, a surge to the $1.25 target would mark an impressive 681.25% increase from the meme coin’s current market value of $0.16.
DOGE Faces Make Or Break Level
According to crypto analyst Ali Martinez, the Dogecoin price is currently at a make-or-break point, meaning that its next move could determine whether it sees a significant breakout or a sharp decline. Sharing a price chart highlighting Fibonacci retracements and trend channels, the analyst revealed that Dogecoin is sitting on a key ascending trendline that has acted as support since 2018.
This trend line aligns with the 0.796 Fibonacci retracement level at $0.16, marking it a crucial support zone. If Dogecoin holds above this level, it could trigger a bullish continuation, with the next major Fibonacci extension level at $0.57. Surpassing this price mark could also propel Dogecoin to the 1.272 Fib at $2.77.
On the flip side, if Dogecoin breaks below $0.16, the next major support lies around the 0.618 Fib at $0.06. The analyst’s chart also highlights a possible breakdown to $0.0066 or even as low as $0.0016 if bearish momentum persists.
EigenLayer plans to start “slashing” restakers on April 17, resulting in the Ethereum restaking protocol’s “first feature-complete iteration,” it said in an April 2 announcement.
Implementing slashing will mark EigenLayer’s final step toward establishing the protocol as “infrastructure for a new generation of verifiable apps and services built on the Verifiable Cloud,” it said in a post on the X platform.
In 2024, EigenLayer started distributing rewards — including emissions of its native EIGEN token — to incentivize restakers. However, slashing has so far been limited to EigenLayer’s testnets.
Once slashing is live, node operators and restakers will be able to voluntarily “opt-in,” resulting in a gradual transition for users, EigenLayer said in a blog post.
Slashing starts on EigenLayer’s mainnet soon. Source: EigenLayer
Launched in 2023, EigenLayer secures third-party protocols — dubbed actively validated services (AVSs) — against a pool of “restaked” cryptocurrencies used as collateral.
Restaking involves taking a token that has already been staked — posted as collateral with a validator in exchange for rewards — and using it to secure other protocols simultaneously.
Slashing is the primary method for securing proof-of-stake protocols — including Ethereum as well as “restaking” protocols such as EigenLayer — and involves penalizing a network’s node operators for poor performance or misbehavior.
“If Operators do not meet the conditions set, the AVS may penalize them. But, if the Operator runs the service successfully, AVSs can reward the Operator’s performance and incentivize specific activity,” EigenLayer said in an April 3 blog post.
This “allows for a free marketplace where Operators can earn rewards for their work and AVSs can launch verifiable services,” the post said.
EigenLayer’s total value locked (TVL) over time. Source: DeFILlama
Growing ecosystem
Upward of 30 AVSs are already live on EigenLayer’s mainnet, and dozens more are being developed.
They include EigenDA — run by EigenLayer developer Eigen Labs — and ARPA Network, a protocol specializing in trustless randomization.
In October, EigenLayer unlocked its native token, EIGEN. It is designed as a more flexible option for securing consensus-based protocols than other proof-of-stake tokens, such as Ether, according to EigenLayer.
EigenLayer is prioritizing onboarding crypto-native apps in segments such as decentralized finance (DeFi) and gaming before expanding beyond Web3, founder Sreeram Kannan told Cointelegraph in October.
“We’re starting with the inside-out approach, focusing on high-throughput consumer apps like DeFi and gaming, but once we grow a little bigger and have critical mass, we’ll go outside and start targeting broader consumer markets,” Kannan said.
An analyst has explained how Dogecoin could be at a make-or-break level right now based on a technical analysis (TA) chart pattern.
Dogecoin Is Retesting The Lower Bound Of An Ascending Channel
In a new post on X, analyst Ali Martinez has shared a TA pattern potentially forming in the meme coin’s 1-week price chart. The pattern in question is an Ascending Channel, which appears when an asset trades between two parallel trendlines slopped upwards.
As the price curve moves inside the channel, it observes consolidation toward the upside. The upper line of the pattern acts as a ceiling, providing resistance when the asset retests it. Similarly, the lower line acts as a point of support.
In the scenario that one of these levels breaks, the price can see a continuation of the trend in that direction. That is, a surge above the channel can be a bullish signal, while a drop under it is a bearish one.
Now, here is the chart posted by the analyst displaying the Ascending Channel that the weekly Dogecoin price has been traveling inside for the last few years:
As is visible in the above graph, the 1-week price of Dogecoin has recently witnessed a plunge to the support level of this multi-year Ascending Channel, situated around $0.16.
The last time that the meme coin retested this line was last year and back then, the coin was able to find a successful bottom, which launched its price into a bull rally. Given this trend, the latest retest of the line could also prove to be crucial for the cryptocurrency, with the analyst even tagging the level as a ‘make-or-break’ one.
As for the potential scenarios that this retest can lead to, the analyst has noted, “if $0.16 holds, a rally to $0.57 could follow. If it fails, a drop to $0.06 becomes likely.”
These targets are based on the Fibonacci Retracement levels, which are lines that correspond to important ratios from the popular Fibonacci series. Fibonacci Retracement levels are taken from a specific price top, with the point of the top corresponding to the 1 level.
From the chart, it’s visible that DOGE is currently trading almost exactly at the 0.786 level, making the asset’s current retest have another layer of significance. A breakdown could send the coin to the next retracement level, 0.618, which corresponds to the $0.06 target that the analyst has given.
Similarly, a surge upward could help Dogecoin touch the higher 1 level, situated around $0.57. It now remains to be seen how the memecoin’s retest would go.
DOGE Price
Dogecoin has had a bearish past day as it has dropped to $0.16 following a drawdown of more than 8%.
The cryptocurrency exchange Gemini, backed by Cameron and Tyler Winklevoss, plans to move into a Miami-area office space, as US Securities and Exchange Commission (SEC) enforcement case may have reached its end.
According to a March 31 post from Sterling Bay Properties, Gemini signed a lease for an office in Miami’s Wynwood Art District. The move would expand the exchange’s offices from Europe and New York to Florida, where some crypto companies are headquartered.
Bloomberg reported Gemini was expected to move into the Miami office by May. Cointelegraph reached out to the exchange for comment but did not receive a response at the time of publication.
Wrapping up regulatory issues?
The move to Florida came amid a federal judge ordering a 60-day stay on the SEC’s lawsuit against Gemini Global Capital “to allow the parties to explore a potential resolution.” The enforcement action, filed in January 2023, alleges the crypto firm offered and sold unregistered securities through its Gemini Earn program.
Cameron Winklevoss said in February that the regulator had closed an investigation into a separate matter involving Gemini. The firm also agreed in January to a $5 million penalty imposed by the US Commodity Futures Trading Commission over alleged “false and misleading” statements related to its 2017 bid to offer Bitcoin (BTC) futures contracts.
Gemini reportedly filed confidentially for an initial public offering (IPO) earlier this year. The exchange may have pursued an IPO as early as 2021 before shares of many US-based crypto firms were publicly traded.
Several crypto firms have regional offices in Miami, possibly due to Florida’s seemingly favorable regulatory environment and the lack of state income tax for residents. Ripple Labs has an office in the Wynwood neighborhood, not far from Gemini’s future location, and BTC miner MARA Holdings is headquartered in Fort Lauderdale.
XRP (XRP) stabilized near its $2 support after today’s marketwide sell-off sent the altcoin and several other cryptocurrencies close to their swing lows.
Data now shows the XRP/USD pair exhibiting early signs of a bullish breakout.
Ripple’s RLUSD integration could boost XRP price
Ripple’s integration of its RLUSD stablecoin into its cross-border payments system, Ripple Payments, could significantly boost XRP’s price by enhancing its utility and liquidity.
On April 2, Ripple, the company behind XRP, announced that it had integrated its stablecoin into the company’s cross-border payments system to boost adoption for Ripple USD (RLUSD).
RLUSD, a USD-pegged stablecoin launched in December 2024, complements XRP by providing stability for transactions, while XRP serves as a fast, liquid bridge currency. This dual-asset strategy targets the $230 billion cross-border payments market, and ims to increase demand for both assets.
Source: X / Ripple
RLUSD’s market cap now stands at $244 million, with 87% growth in March alone, according to data from rwa.xyz. As adoption grows, financial institutions using Ripple Payments may rely more on XRP for liquidity, especially in volatile corridors.
Pairing RLUSD with XRP on the XRP Ledger (XRPL) and exchanges could drive trading volume and activity on XRPL’s decentralized exchange, tightening XRP’s supply.
Positive sentiment from RLUSD’s success could also lift XRP’s value, with analysts suggesting increased adoption might push XRP toward $3.50 or higher.
“Ripple’s $RLUSD integration is a pivotal move for cross-border payments,” said crypto market insights provider Alva in an April 3 post on X.
As a result, “optimism around $RLUSD soaring, with eyes on its ripple effect on XRP,” Alva said, adding:
“Overall: A solid play for strengthening Ripple’s ecosystem and pushing stablecoin adoption forward. Get ready for potential shifts!”
XRP’s price action between Jan. 16 and April 3 has led to the formation of a symmetrical triangle pattern on the daily chart. The price is retesting the lower trendline of the triangle at $1.98, suggesting that a rebound could be in the making.
Note that the price has successfully rebounded from this trendline two to three times in the past, with each retest leading to a significant price recovery.
If a similar scenario plays out, XRP could recover from current levels and with good volumes, it may break above the triangle’s descending trendline at $2.40 (embraced by the 50-day SMA).
The target is set by the distance between the triangle’s lowest and highest points, which would bring XRP price to $3.51, an approximate 73% gain from the current price.
Several analysts also share similar bullish outlooks for the altcoin, citing XRP’s adoption, chart technicals and the end of Ripple’s long-standing case with the SEC as the reasons.
Citing a chart similar to the one shared above, XRP investor Steph Is Crypto said the price was “heavily compressing” before a massive breakout.
“This breakout will create many new millionaires!”
Using Elliott Wave theory, crypto analyst Dark Defender shared an optimistic price prediction for XRP, saying that the token’s correction in the monthly timeframe “will be over within weeks.”
According to CasiTrades, the XRP’s relative strength index shows a bullish divergence on multiple timeframes and this signals a price bottom, and an upside target of $3.80.
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.
Not all tokens can be sold immediately. Airdropped or obscure tokens may lack liquidity or could be scams, so it’s important to check before attempting to cash out.
Swapping and bridging may be required. To sell, you might need to convert tokens to ETH or stablecoins and bridge them to the Ethereum mainnet.
MetaMask integrates fiat off-ramps. You can use the MetaMask Portfolio to sell ETH directly, but be prepared for KYC with third-party providers.
Non-KYC and P2P options exist. Platforms like Bisq or LocalCoinSwap allow trading without ID, but they carry more risk and require caution.
There are plenty of ways you might end up with a mix of different cryptocurrencies sitting in your MetaMask wallet.
Maybe you work in Web3 — as a developer, copywriter or designer — and your client paid you in their project’s native token.
Or maybe you’re part of a Bitcoin mining pool and occasionally receive rewards straight to your wallet.
Whatever the case, you’ve got crypto in your MetaMask — and now you want to turn it into cash.
In this guide, you’ll learn all the ways you can sell your crypto and withdraw the funds to your bank account or even in cash — whether you’re going through official Know Your Customer (KYC) channels or sticking to more private, non-KYC routes.
Things to know before selling tokens on MetaMask
Before you can turn your tokens into cash, there are a few things you need to get sorted in MetaMask because “not all tokens are created equal.” It’s not always as simple as hitting a “sell” button — especially if you’ve just received tokens via an airdrop or from a lesser-known project.
1. Why some airdropped tokens can’t be sold (yet)
Just because a token shows up in your wallet doesn’t mean it’s ready to be sold. In fact, many airdropped tokens aren’t listed on exchanges at all. That means there’s no market where you can sell them — not yet, anyway. You might see a price attached to the token, but without buyers or liquidity, that value isn’t something you can actually realize right now. So, while it’s great to receive free tokens, they may end up sitting idle in your wallet for a while.
Did you know? If you see a “100% sell fee detected” warning on a token, it’s likely a scam. Scammers airdrop these tokens, hoping you’ll try to sell or interact with them. But when you do, the smart contract takes the full amount — leaving you with nothing. Worse, some link to fake decentralized applications (DApps) that ask you to “claim” or “unlock” the tokens. Connecting your wallet or signing a transaction there can let scammers drain your real assets.
2. Adding missing tokens to your wallet
Sometimes, you’ll receive tokens that don’t even show up in MetaMask at first. That doesn’t mean they’re not there — it just means MetaMask doesn’t recognize them by default. You’ll need to add them manually by grabbing the token’s contract address (usually from the project’s official site or Etherscan) and importing it into your wallet. Once you do that, your balance will show up properly.
Similarly, if you want to receive any asset other than Ether (ETH), the “Import Tokens” option lets you manually add these missing tokens so they show up in the assets list.
3. Getting ready to swap or bridge
Even if your tokens are visible in MetaMask and technically have value, that doesn’t always mean you can sell them for cash right away. Many smaller or newer tokens don’t have direct fiat trading pairs — so you won’t be able to exchange them straight into dollars or euros.
To get around this, you’ll usually need to swap them for something more liquid, like ETH or a stablecoin such as USDC (USDC), which are more commonly supported by fiat off-ramps.
In some cases, your tokens might also be sitting on a different blockchain — like Arbitrum, BNB Chain or Polygon — while most fiat withdrawal options only support Ethereum mainnet. When that’s the case, you’ll need to bridge your tokens over to Ethereum before you can sell them.
One way to handle both of these steps — swapping and bridging — is by using platforms that combine them into a single flow. For example, with Symbiosis.finance, you can swap a token on one chain and receive a more widely accepted token on Ethereum, all in one transaction. This can save you a few steps and reduce the chance of user error when hopping between tools.
How to sell crypto with MetaMask
The simplest way to sell crypto that you hold on MetaMask is by using the application itself. Here’s what to do:
Open MetaMask portfolio: In your MetaMask extension or app, click the “Buy & Sell” button. This will take you to the MetaMask Portfolio site, where you can manage all your assets and begin the selling process.
Start the sale process: Click on “Move crypto” at the top of the page and select “Sell” from the dropdown options.
Choose your region and currency: MetaMask will ask for your country of residence and preferred fiat currency. This step ensures you’re shown accurate provider options and payout methods available in your area.
Enter sale amount: Select Ether and enter how much you’d like to convert.
Pick a payout option: Next, choose where you want the fiat to go. Depending on your region and provider availability, you might be able to send it to a bank account, PayPal or another method.
Compare offers: MetaMask aggregates offers from several third-party providers (like MoonPay, Transak, Sardine, etc.), showing you real-time exchange rates, fees and estimated payout times. Take a moment to compare and pick the best option for you.
Complete the sale: Once you’ve chosen a provider, MetaMask will guide you through sending the crypto. You’ll confirm the transaction in your wallet, and the funds will be transferred to the provider, who handles the fiat payout.
There are two things to keep in mind when using the MetaMask application:
Firstly, while the application itself might not ask you for KYC, the third-party providers will. So, expect to get your documents ready for this one.
Secondly, MetaMask’s sell feature only supports ETH on the Ethereum mainnet. This is where the bridging will come in as was explained earlier.
Withdrawing crypto via centralized exchanges
If you’d rather cash out your crypto through a centralized exchange, Coinbase is a popular option. It’s beginner-friendly, offers fiat withdrawals, and supports a wide range of assets. Just note: You’ll need to complete KYC verification before withdrawing any fiat.
Here’s how to do it, step by step:
1. Send crypto from MetaMask to Coinbase
First things first: You’ll need to move your funds from MetaMask to Coinbase.
Log in to your Coinbase account and hit “Send & Receive” at the top.
Switch to the “Receive” tab, pick the crypto you’re sending (like ETH or USDC), and copy the wallet address Coinbase gives you.
Make sure the network matches — for example, if you’re sending ETH, it should be on the Ethereum (ERC-20) network.
Now open MetaMask:
Click “Send,” paste in that Coinbase address, and enter how much you want to transfer.
Double-check the network — if you send it to the wrong one, your funds could disappear.
Hit “Confirm,” and your crypto should show up in Coinbase after a few minutes.
2. Sell crypto for fiat on Coinbase
Once your funds land in Coinbase, it’s time to cash out.
Head to “Buy & Sell” at the top and switch to the “Sell” tab.
Choose the crypto you just received and decide how much you want to sell.
Pick where you want the money to go — like your linked bank account, PayPal or your Coinbase balance.
Review the details (including any fees), then hit “Sell.”
Did you know? When withdrawing via centralized exchanges, be cautious of minimum withdrawal amounts and any associated fees. Check these details in advance to make sure the limits and costs are acceptable to you before committing to this route.
Peer-to-peer with KYC
With peer-to-peer (P2P), you’re not selling your crypto to the exchange. Instead, you’re selling it to another user. You choose a buyer based on their offer and preferred payment method (like bank transfer, Revolut, Wise, etc.). Once they send the money to your account, you release the crypto to them. The platform holds your crypto in escrow during the process, so no one can just disappear with your funds.
With centralized exchanges, you’ll have to complete KYC before you’re able to trade in this manner.
Selling via P2P on Binance
Go to Trade > P2P.
Choose the coin you want to sell and browse the list of available buyers.
Select a deal, confirm the order, and wait for the buyer to make the payment.
Once the payment has arrived in your account, confirm it and release the crypto from escrow.
Did you know? Some peer-to-peer (P2P) cryptocurrency exchanges offer a “cash by mail” option, allowing users to send physical cash through postal services or couriers to settle transactions.
Cashing out of your MetaMask wallet without KYC
For those looking to convert cryptocurrency from their MetaMask wallet to fiat currency without undergoing Know Your Customer (KYC) verification, there are still a few viable paths.
Decentralized P2P platforms let you trade directly with other users, much like their centralized counterparts, though often with minimal or no KYC requirements.
LocalCoinSwap: A non-custodial P2P marketplace that supports a wide range of cryptocurrencies and payment methods, including cash. It offers escrow protection and emphasizes privacy.
Bisq: A fully decentralized exchange that supports a variety of cryptocurrencies, including Bitcoin and Monero (XMR). It runs on a peer-to-peer protocol and doesn’t require user accounts or KYC.
However, without KYC, you’re responsible for vetting the person you’re trading with. Check their reputation, review any available trade history, and always follow platform safety guidelines.
Using cryptocurrency ATMs to withdraw crypto from MetaMask
Withdrawing funds from your MetaMask wallet using cryptocurrency ATMs — often referred to as Bitcoin ATMs — is an option that allows you to convert your digital assets into cash. Here’s how you can approach this method:
Locate a cryptocurrency ATM: Begin by finding a cryptocurrency ATM in your vicinity. Websites like CoinATMRadar provide directories of Bitcoin ATM locations worldwide, detailing the services they offer and the cryptocurrencies they support.
Prepare your MetaMask wallet: Ensure that the cryptocurrency you intend to withdraw is supported by the ATM. Bitcoin ATMs predominantly support Bitcoin (BTC), so you may need to use a decentralized exchange (DEX) to swap your current tokens for BTC within your MetaMask wallet. Be mindful of transaction fees and exchange rates during this process.
Initiate the withdrawal process: At the ATM, select the option to withdraw cash. The machine will prompt you to specify the amount you wish to withdraw and provide a QR code representing the ATM’s wallet address.
Transfer funds from MetaMask: Using your MetaMask wallet, scan the QR code provided by the ATM to input the recipient address accurately. Enter the exact amount of cryptocurrency required and confirm the transaction. Be aware that network congestion can affect transaction times.
Collect your cash: Once the blockchain confirms the transaction, the ATM will dispense the equivalent amount in cash, minus any applicable fees. This process can take anywhere from a few minutes to longer, depending on network conditions.
When using crypto ATMs, you should expect very high fees, and while small transactions don’t usually require KYC, larger ones still might.
Are MetaMask crypto transactions taxable?
Taxes aren’t the most exciting topic, but they matter when converting crypto from a MetaMask wallet into fiat. Selling crypto, whether through MetaMask, an exchange or a P2P deal, may trigger a taxable event, and understanding the applicable rules is essential.
Selling crypto = possibly taxable
In most countries, including the US, selling crypto for fiat (like US dollars, euros, etc.) is treated like selling property. That means if you bought ETH at $1,000 and sold it later for $1,500, you’ve made a $500 capital gain — and that’s usually taxable.
Even swapping one crypto for another (say, ETH for USDC) can trigger the same kind of tax obligation, even if no fiat is involved. So, yeah, it’s not just cashing out that counts — any trade can be reportable.
To stay on top of it, keep a record of:
When you bought and sold each asset
How much you bought and/or sold
What it was worth in fiat at the time
Any fees paid along the way.
These details make life way easier when tax season rolls around — or if your accountant gives you that look.
Know your local rules
Crypto laws aren’t one-size-fits-all. Every country has its own stance, and even within the same country, rules can vary depending on how you’re using crypto.
In the US, for example, selling crypto could fall under capital gains tax rules or even money transmission laws, depending on how you’re moving the funds. Other countries might have more lenient — or much stricter — regulations.
So, here’s what to do:
Look up your local crypto tax laws (even if they seem vague or outdated).
Stay current — regulations are evolving fast.
Talk to a pro if you’re unsure. A crypto-savvy accountant or legal adviser can help you avoid nasty surprises.
Even if you’re using non-KYC methods or decentralized tools, tax authorities may still expect a full report. Being proactive about it will save you headaches later — and might even save you money.
Bitcoin is facing a crucial test as it struggles to break above key resistance levels while holding just above critical support. The market remains stuck in a tight range, reflecting growing indecisiveness among traders and investors. Uncertainty has become the new normal, with macro conditions and political developments continuing to cloud sentiment.
US President Donald Trump has added further volatility to the mix, unsettling financial markets with unpredictable policies and newly imposed tariffs. His erratic behavior has only intensified the fragile mood, pushing risk assets like Bitcoin into deeper consolidation.
Despite brief rallies, Bitcoin has once again failed to break above descending resistance, according to crypto analyst Carl Runefelt. This rejection, paired with declining trading volume, is a sign that buyers may be losing strength. Runefelt warns that if volume continues to dry up and BTC remains stuck below key levels, the bearish target of $78,600 remains a strong possibility.
While bulls are defending support zones for now, the lack of momentum is raising red flags. Unless Bitcoin can reclaim higher ground soon, the odds of a deeper correction will continue to grow — making the coming days crucial for determining the market’s next direction.
Bitcoin Down 25% from January ATH As Bears Tighten Grip
Bitcoin is now down 25% from its January all-time high, and bulls are struggling to regain control. After repeated attempts to reverse the trend, BTC continues to hold above the $81,000 level — a key support zone — but has failed to reclaim the $86,000 mark, which is necessary to confirm any serious recovery. The inability to push higher has weakened market confidence, and bulls now find themselves in a difficult position.
Macroeconomic uncertainty and fears surrounding escalating trade wars, especially under U.S. President Donald Trump’s unpredictable policies, have added to market volatility. These factors continue to favor the bears, and the pressure on high-risk assets like Bitcoin remains intense. With broader financial markets under stress, bullish sentiment in the crypto space is fading quickly.
Panic is beginning to set in for some investors as selling pressure shows no sign of slowing. However, there’s still a sliver of optimism among market watchers who believe that a bounce could follow once key resistance levels are reclaimed.
Runefelt recently shared insights pointing to BTC’s failure to break above descending resistance — a bearish sign. He also noted that trading volume continues to decline, a sign that market participation is thinning out. This lack of volume often precedes large moves, and in this case, the bearish target of $78,600 remains firmly on the table if bulls fail to reclaim momentum.
For now, the market remains on edge. Bitcoin’s ability to hold above $81K and attempt a move past $86K will be critical in determining whether a recovery is possible — or if the next leg down is about to begin.
Technical Details: Key Levels To Hold
Bitcoin is currently trading at $83,500 after several days of choppy, volatile price action that has left traders uncertain about the market’s next direction. The recent swings between key levels have highlighted the indecision among both bulls and bears, with neither side able to take full control. For bulls, the immediate challenge is to reclaim the $85,000 level, which aligns with the 4-hour 200-day moving average (MA). A successful move above this mark would be an encouraging signal of short-term strength.
Beyond that, the next key level is $86,000, which is where the 4-hour exponential moving average (EMA) sits. Reclaiming this zone would help shift momentum back in favor of the bulls and potentially set the stage for a recovery attempt toward $90,000.
However, the most critical level in the short term is support at $81,000. This price zone has acted as a strong floor in recent weeks, and losing it would likely trigger further downside pressure. As macro uncertainty and market-wide volatility continue, bulls must defend this support while working to reclaim the MAs above. The coming sessions will be crucial in defining whether Bitcoin can recover—or slide deeper into correction territory.
Featured image from Dall-E, chart from TradingView
On April 3, yields on long-term US government debt fell to their lowest levels in six months as investors reacted to growing concerns over the global trade war and the weakening of the US dollar. The yield on the 10-year Treasury note briefly touched 4.0%, down from 4.4% a week earlier, signaling strong demand from buyers.
US 10-year Treasury yield (left) vs. Bitcoin/USD (right). Source: TradingView / Cointelegraph
At first glance, a higher risk of economic recession may seem negative for Bitcoin (BTC). However, lower returns from fixed-income investments encourage allocations to alternative assets, including cryptocurrencies. Over time, traders are likely to reduce exposure to bonds, particularly if inflation rises. As a result, the path to a Bitcoin all-time high in 2025 remains plausible.
Tariffs create ‘supply shock’ in the US and impact inflation and fixed-income returns
One could argue that the recently announced US import tariffs negatively impact corporate profitability, forcing some companies to deleverage and, in turn, reducing market liquidity. Ultimately, any measure that increases risk aversion tends to have a short-term negative effect on Bitcoin, particularly given its strong correlation with the S&P 500 index.
Axel Merk, chief investment officer and portfolio manager at Merk Investments, said that tariffs create a “supply shock,” meaning the reduced availability of goods and services due to rising prices causes an imbalance relative to demand. This effect is amplified if interest rates are declining, potentially paving the way for inflationary pressure.
Even if one does not view Bitcoin as a hedge against inflation, the appeal of fixed-income investments diminishes significantly in such a scenario. Moreover, if just 5% of the world’s $140 trillion bond market seeks higher returns elsewhere, it could translate into $7 trillion in potential inflows into stocks, commodities, real estate, gold, and Bitcoin.
Weaker US dollar amid gold all-time highs favors alternative assets
Gold surged to a $21 trillion market capitalization as it made consecutive all-time highs, and it still has the potential for significant price upside. Higher prices allow previously unprofitable mining operations to resume and it encourages further investment in exploration, extraction, and refining. As production expands, the supply growth will naturally act as a limiting factor on gold’s long-term bull run.
Regardless of trends in US interest rates, the US dollar has weakened against a basket of foreign currencies, as measured by the DXY Index. On April 3, the index dropped to 102, its lowest level in six months. A decline in confidence in the US dollar, even in relative terms, could encourage other nations to explore alternative stores of value, including Bitcoin.
US Dollar Index (DXY). Source: TradingView / Cointelegraph
This transition does not happen overnight, but the trade war could lead to a gradual shift away from the US dollar, particularly among countries that feel pressured by its dominant role. While no one expects a return to the gold standard or Bitcoin to become a major component of national reserves, any movement away from the dollar strengthens Bitcoin’s long-term upside potential and reinforces its position as an alternative asset.
To put things in perspective, Japan, China, Hong Kong, and Singapore collectively hold $2.63 trillion in US Treasuries. If these regions choose to retaliate, bond yields could reverse their trend, increasing the cost of new debt issuance for the US government and further weakening the dollar. In such a scenario, investors would likely avoid adding exposure to stocks, ultimately favoring scarce alternative assets like Bitcoin.
Timing Bitcoin’s market bottom is nearly impossible, but the fact that the $82,000 support level held despite worsening global economic uncertainty is an encouraging sign of its resilience.
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.
For years, the crypto market has thrived on speculation, where excitement, hype and fleeting trends attract value instead of fundamentals. Investors have continually poured money into tokens fueled by viral moments, chasing rapid gains. Time and again, a select few of these investments soar to incredible heights, only to come crashing down. With over 33 million tokens in circulation, the competition to attract attention gets harder and harder and investor attention is ever more fleeting. But DePIN can change this. With compelling businesses attracting real customers and revenue built on well designed token economics, DePIN can set a new standard of fundamentals in crypto.
As our DePIN Token Economics Report outlines, Decentralized Physical Infrastructure Networks (DePIN) offer a number of compelling businesses with fundamental value. Unlike typical crypto projects driven by speculation, DePIN offers a different approach. It uses blockchain technology to support real-world infrastructure, creating tangible value and generating real revenue. Instead of relying on hype, it builds a financial system based on actual demand, making it a more sustainable and practical model.
Rather than resembling major crypto networks like Bitcoin or Ethereum, DePIN operates more like capital-light marketplaces such as Uber and Airbnb, but with key distinctions. While both models connect providers with customers without funding infrastructure, DePIN providers are compensated in tokens that can appreciate in value, akin to Uber drivers or Airbnb hosts receiving equity. Additionally, most DePINs sell to businesses which eliminates the need for massive marketing expenses required in building a consumer brand.
DePIN offers a compelling business model and, unlike memes that come and go, it is the beginning of crypto’s transformation into a mature, revenue-generating industry.
From Hype to Revenue-Driven Models
At its core, DePIN represents a paradigm shift. Traditionally, blockchain-based businesses have relied on hype to attract buyers. In the absence of traditional fundamentals, the industry cycled through endless metrics such as TPS, TVL, Telegram channel size, followers on X and many others. Many projects have attempted to build decentralized ecosystems. But, without real customers paying for services, they have largely functioned as economies fueled by speculation rather than external demand.
DePIN changes this by integrating blockchain technology with physical and digital infrastructure, creating compelling services that generate revenue. Whether it is decentralized cloud computing, wireless networks, mapping or storage solutions, DePIN projects offer services like traditional businesses and with customers who pay for usage. When combined with the correct token economics, it creates a sustainable financial model.
As DePIN generates growing revenue, it is likely to draw institutional investors who have long been skeptical of crypto’s reliance on hype and speculation. The projects that successfully correlate the token demand to actual business growth will not only survive the current market but also set the standard for the next generation of blockchain companies
The report also highlights one of the most compelling aspects of DePIN, the use of buy-and-burn, which removes the need to have an expanding pool of new buyers. Instead, these projects use a portion of their revenue to repurchase and burn tokens, permanently reducing supply and potentially driving long-term price appreciation similar to stock buybacks.
This approach is in stark contrast to most of crypto which relies on new buyers to sustain and grow their value.The buy-and-burn model ensures that as DePIN businesses grow and generate more revenue, their token ecosystems become more resilient to market fluctuations. Some DePIN tokens are already demonstrating this by decoupling from broader crypto market trends, proving that real-world adoption can lead to price stability and long-term investor confidence.
Aligning Incentives for Sustainable Growth
While DePIN offers significant potential, it also comes with challenges. One major concern is transparency, as most projects lack traditional financial reports, audits, or clear revenue statements. However, blockchain itself provides a solution — on-chain verification through buy-and-burn mechanisms allows for real-time financial tracking, giving investors a clearer picture of a project’s health.
Another challenge is customer adoption. Many businesses and consumers remain concerned due to crypto’s volatility. To address this, DePIN projects are introducing fiat payment options and stablecoin rewards, making it easier for everyday users to interact with these decentralized services without needing prior crypto or Web3 experience.
For DePIN to succeed, its incentive structures must be designed to keep all stakeholders — providers, users, and investors aligned. One way to achieve alignment is through staking mechanisms, especially in cloud-based networks where service providers lock up tokens as collateral to guarantee reliability. Projects like Filecoin and Fluence already use this approach, ensuring accountability while strengthening network security. Others, such as Render and Livepeer, take a different route by distributing a share of network revenue to token stakers, creating a system similar to dividends that rewards long-term commitment.
Governance will also be critical as DePIN projects decentralize. To prevent large token holders from short-term profiteering for quick gains, new governance models like quadratic voting and weighted staking are emerging. These frameworks help keep decision-making balanced, ensuring that projects remain sustainable and fair as they evolve.
DePIN isn’t just another blockchain investment vehicle, it is laying the foundation for real, decentralized infrastructure. While meme coins have shown that crypto can generate hype, they rarely create lasting value. In contrast, DePIN is developing businesses that can compete with centralized companies by focusing on real-world utility.
With token models backed by revenue, deflationary supply mechanics, and increasing interest from institutional investors, DePIN is redefining how blockchain networks should function. The projects that successfully address capital efficiency, align incentives, and navigate regulatory challenges will be the ones that lead this next phase of decentralized technology.
As DePIN matures, its token models will continue to evolve. Optimizing capital efficiency through transparent buy-and-burn rates will ensure liquidity while maintaining long-term value. Governance structures will adapt to prevent short-term actors from derailing network growth. By 2026, DePIN will be recognized as the benchmark for sustainable blockchain economies, proving that crypto can function as more than a speculative asset class.
The crypto industry stands at a crossroads. Investors, developers, and institutions must choose between supporting unsustainable token models or supporting projects that create real value. For the space to mature, it needs to move beyond pure speculation, and DePIN is at the forefront of that transformation.
After weeks of constrained price action and consistently lower highs, Cardano (ADA) appears to have finally broken free from its bearish grip. A recent analysis by crypto trader TehThomas on the TradingView platform confirms that ADA has broken out on the 4-hour chart, which may be marking the beginning of a more significant trend reversal.
ADA Breakout Reshapes Market Structure After Downtrend
Cardano, like the rest of the crypto market, experienced a bearish trend in March. This bearishness was so intense that it saw the altcoin go from hoping to break above $1 in the first few days of March to the bulls working to prevent a close below $0.65 at the end of the month.
In terms of price action, the Cardano price held up better than most large market-cap cryptocurrencies throughout this decline. Interestingly, technical analysis shows that Cardano’s price action in the last week of March played out in a descending channel formation, as highlighted by crypto analyst TehThomas.
According to the technical analysis, which examined Cardano’s price action on the 4-hour candlestick timeframe, the descending channel that confined Cardano’s price for the past several days was eventually breached in the first few days of April, allowing the asset to snap out of its minor corrective structure. Although limited to the 4-hour timeframe, this development could prove significant in shaping ADA’s trajectory through April. If the momentum holds, more traders may start positioning for a continuation toward higher resistance levels above $0.7 that was easily broken in recent weeks.
Golden Pocket And Fair Value Gap Converge: Target Zones To Watch
The next challenge lies in reaching a zone that combines two significant technical features: the golden pocket and a Fair Value Gap (FVG). The golden pocket, located between the 0.618 and 0.65 Fibonacci retracement levels, is commonly seen as a strong resistance zone, especially following a breakout. In the case of Cardano, TehThomas identified the golden pocket lying around $0.72. This level here could pose a resistance for any uptrend above $0.70.
The $0.72 region is also highlighted by a Fair Value Gap (FVG), created by the quick price fall in March that left behind an unbalanced area on the chart. According to TehThomas, price tends to revisit these imbalances to “fill” them, making this confluence a magnet for short-term action.
Liquidity will likely be clustered here as well, meaning that Cardano could face some volatility as it approaches it. If bulls can break through this zone with conviction, it could open the path to above $0.7. However, if the price stalls or rejects, the cryptocurrency may pull back to retest the breakout point at $0.65 before attempting another push. Interestingly, this has been the case in the past 24 hours.
The cryptocurrency market remains in turbulent territory as Toncoin (TON) demonstrates both significant volatility and remarkable resilience.
After forming a head-and-shoulders pattern with strong resistance at $4.15, TON has recovered from its recent lows. It is now trading at $4.13 with a 12.5% weekly gain.
This recovery comes amid news that leading venture capital firms, including Sequoia, Ribbit Capital, and Benchmark, collectively hold over $400 million in TON, signaling institutional confidence in the blockchain’s future.
TON Technical Analysis Highlights
Price action formed a head-and-shoulders pattern with resistance at $4.15 and support at $3.60.
The support level at $3.60 was breached during the April 3rd selloff.
Volume analysis shows distribution phases coinciding with price peaks, suggesting institutional profit-taking.
Fibonacci retracement indicates potential stabilization around the 0.618 level at $3.58.
Cup-and-handle formation appeared during recovery with initial resistance at $3.58.
Strong buying pressure was observed during the 15:32-15:34 and 15:58 periods.
Price reclaimed the Fibonacci 0.382 level at $3.59, suggesting potential continuation toward $3.65.
Disclaimer: This article was generated with AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk’s full AI Policy. This article may include information from external sources, which are listed below when applicable.
Cango, a publicly traded Chinese conglomerate, has agreed to sell its legacy China operations to an entity associated with peer Bitmain in a bid to go all-in on Bitcoin (BTC) mining, according to a report by The Miner Mag.
Cango agreed to sell its legacy Chinese auto financing business to Ursalpha Digital Limited in a $352 million deal, according to the report.
Additionally, Bitmain is reportedly transferring 32 exahashes per second (EH/s) to Cango. The deal effectively brings Bitmain’s mining assets to the public market, The Miner Mag said.
Exahashes measure a miner’s contribution to the Bitcoin network’s hashrate, the total computing power securing the network.
The Miner Mag said Ursalpha Digital Limited has the same corporate address and founding director as Antalpha, an entity ultimately controlled by the chairman of Bitcoin miner Bitmain.
Proxies for Cango’s shares on the NYSE are up 25% this month. Source: Google Finance
Bitmain has experienced US scrutiny after the country blacklisted its artificial intelligence affiliate Sopghgo, Bloomberg reported.
According to Bloomberg, Bitmain has a working relationship with American Bitcoin, a Trump-family-affiliated mining entity created in March as part of a deal with Hut 8, a provider of power and computing infrastructure.
On March 31, Hut 8 bought a majority ownership interest in American Bitcoin (formerly American Data Centers), whose founders include US President Donald Trump’s sons, Donald Trump Jr. and Eric Trump.
Hut 8 has transferred its Bitcoin mining equipment to American Bitcoin, which is reportedly mulling an initial public offering (IPO), according to Bloomberg.
The companies said that American Bitcoin will focus on crypto mining, while Hut 8 targets data center infrastructure for applications such as high-performance computing.
In 2025, Bitcoin mining stocks have struggled amid declining cryptocurrency prices and pressure on business models caused by the Bitcoin network’s April halving, according to a JPMorgan research note shared with Cointelegraph.
Every four years, the amount of BTC mined per “block” — a bundle of transaction data stored on the chain — is cut in half. April’s halving slashed mining rewards from 6.25 BTC to 3.125 BTC per block.
Hidden Road, a prime broker that focuses on both crypto and traditional assets, has received an inbound takeover approach, according to two people with knowledge of the matter.
Takeover talks are ongoing with a crypto native company that wants to acquire Hidden Road, the people said, but there is no certainty that any deal will be done.
Hidden Road declined to comment.
The company has raised about $50 million in the last 12 months, from investors including crypto venture capital firm Dragonfly Capital, one of the people said.
One of the investors, a crypto native firm, has since made an approach to buy Hidden Road, the person added.
Dragonfly Capital didn’t respond to a request for comment by publication time.
Prime brokers are an essential part of the plumbing of financial markets. They provide trading, financing and custody services to large institutions.
Hidden Road raised $50 million in a Series A funding round in July 2022. The round was led by Castle Island Ventures, with participation from Citadel Securities, FTX Ventures, Uncorrelated Ventures, Greycroft, XBTO Humla Ventures, Wintermute, SLN Capital, Profluent Trading, Coinbase Ventures and Corner Capital.
The company was said to be weighing options including a potential sale or capital raise that could value the firm at more than $1 billion, according to a Bloomberg report last month.
The number of pre-seed funding rounds for Bitcoin (BTC) startup companies has grown by 767% since 2021, according to a report from venture capital firm Trammell Venture Partners (TVP).
Bitcoin pre-seed transactions increased 50% year-over-year in 2024, with a 27.5% year-over-year increase in the number of startup companies funded.
Christopher Calicott, TVP’s managing director, attributed the increased deals to the robust security of the BTC network:
“Many entrepreneurs across crypto are revisiting the Bitcoin stack as the long-term place to build their companies. It makes perfect sense: The objectively most secure, reliable, and decentralized blockchain is the obvious platform of choice.”
However, the capital raised in Bitcoin pre-seed funding rounds declined by over 22% in 2024, with the median funding round size and the median startup valuation steadily declining from 2021 to 2023.
Median valuations for pre-seed Bitcoin startups fail to reclaim 2021 levels. Source: Trammell Venture Partners
The value of funding rounds reclaimed some lost ground in 2024 but failed to reach highs established during the previous bull cycle in 2021, primarily due to unclear crypto regulations in the United States under the previous Securities and Exchange Commission (SEC) leadership.
Crypto VCs don’t expect 2025 funding to reach 2021-2022 levels
In January, Deng Chao, CEO of institutional asset manager HashKey Capital, told Cointelegraph that pro-crypto regulations in the United States would increase VC investment in the sector in 2025.
However, the executive warned that macroeconomic uncertainty and geopolitical turmoil could increase price volatility and disrupt the trend brought on by positive regulatory tailwinds.
Crypto markets took a nosedive amid trade war fears and macroeconomic uncertainty. Source: CoinMarketCap
Risk-on assets such as stocks and cryptocurrencies typically suffer during trade wars and macroeconomic uncertainty, as investors flee risk assets for safer alternatives such as cash, government securities, and durable commodities.
Venture capital firm Haun Ventures invested $1.5 billion into crypto firms in 2022 but recently announced it seeks to raise only $1 billion in the first half of 2025, citing changed market conditions.
Similarly, analysts at Galaxy Digital also predicted a 50% year-over-year rise in VC-led crypto investments in 2025 but said that VC funding will fail to reach highs established in 2021–2022.
The US House Financial Services Committee has advanced a bill aimed at preventing federal banks from using or issuing central bank digital currencies, or CBDCs, paving the way for a vote in the chamber.
In an April 2 committee session, lawmakers voted 27-22 in favor of passing the CBDC Anti-Surveillance State Act. The bill was one of five the committee considered in a markup hearing discussing possible amendments. Lawmakers also approved a bill regulating payment stablecoins, setting up the legislation for a full House vote.
“Last Congress, this bill passed out of the House of Representatives by a 216-192 vote,” said Minnesota Representative Tom Emmer, the anti-CBDC bill’s sponsor. “So far this Congress, this bill has 114 cosponsors and support from groups ranging from the Independent Community Bankers Association and the American Bankers Association to Club for Growth, Heritage Action, and the Blockchain Association.”
Many Republican lawmakers have targeted institutions like the Federal Reserve or Treasury Department from exploring CBDC development, often citing financial privacy concerns.
After reintroducing the bill in March, Rep. Emmer suggested it was an attempt to codify an executive order from US President Donald Trump into law. That order, signed on Jan. 23, prohibited “the establishment, issuance, circulation, and use” of a CBDC in the United States.
Bitcoin (BTC) and US stock markets all sold off sharply after US President Donald Trump shook up financial markets by announcing a list of reciprocal tariffs on several countries.
On April 3, the S&P 500 saw a 4.2% drop at market open, its most significant single-day decline since June 2020. The Dow Jones Industrial Average fell 3.41%, to 40,785.41 from 42,225.32, while the Nasdaq Composite dropped 5.23%. Overall, $1.6 trillion in value was wiped out from US stock at the market open.
Bitcoin’s value dropped by 8%, but a positive is bulls seem capable of defending the $80,000 support level. These steep declines essentially stem from uncertainty surrounding the new tariffs and amplify investors’ concerns about impending recession.
Source: X
Data from CoinGecko suggests that the total crypto market has dropped 6.8% over the past 24 hours and it seems unlikely that a relief rally is viable in the short-term.
According to CoinGlass, in the past 24 hours, more than 200,000 traders were liquidated, with the total amount exceeding $573.4 million. The largest liquidation occurred on Binance, with an ETH/USDT position worth $11.97 million being force closed.
Total crypto liquidation chart. Source: CoinGlass
Meanwhile, Bitcoin’s open interest dropped below $50 billion, reducing market leverage. Joao Wedson, CEO of Alphractal, mentioned that the liquidation heatmaps indicate heavy leverage around $80,000, raising the potential for a potential drop to $64K-$65K if Bitcoin breaks this level with high trading volume.
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.
Illinois will soon drop its staking lawsuit against Coinbase, joining three other U.S. states that have recently backed down from litigation against the exchange.
A spokesperson for Illinois Secretary of State Alexi Giannoulias told CoinDesk on Thursday that the office “intends to drop the Coinbase lawsuit.” The spokesperson did not reply when asked when the case may be dropped.
Illinois was one of 10 U.S. states that brought charges against Coinbase in 2023 for allegedly violating state securities laws through its staking program. The U.S. Securities and Exchange Commission (SEC) also charged Coinbase with violating federal securities laws for its staking product, but dropped that suit in February. Since the SEC’s retreat, state securities regulators in Kentucky, Vermont and South Carolina have also abandoned their own cases against the exchange.
The remaining states with staking-related suits against Coinbase include Alabama, California, Maryland, New Jersey, Washington and Wisconsin. Spokespeople for California, Maryland, and Wisconsin declined to comment on pending litigation.
A representative for the New Jersey Bureau of Securities told CoinDesk the “Coinbase matter remains open,” and Bill Beatty, securities administrator for the Washington Department of Financial Institutions said the state’s “case with Coinbase remains ongoing at this time.”
The Alabama Securities Commission did not return CoinDesk’s request for comment.
