Day: April 11, 2025

AVAX Signals Strength While Eyeing Breakout Above $23

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Avalanche has surged nearly 10%  with notable trading volume as open interest rises.

 

AVAX has surged in trading volume following VanEck’s strategic move to file for Avalanche’s Spot ETFs. Avalanche was trading at $19.21, a 10% price surge in the past 24 hours and a 25% surge in the last 2 days, at press time. According to Coinglass data, the coin has seen its open interest rise 13% in the past 24 hours, suggesting a strong bullish momentum.

 

Why AVAX could sustain its strength in the mid-term

 

Source: X

Avalanche has formed a double bottom pattern on the 12-hour chart. According to analyst TedPillows on X, a close above $23 could spark a bullish rally in the mid-term.

Looking at Avalanche’s technical indicators, short-term and long-term moving averages and MACD(12,26) flash a strong “buy”.The altcoin’s Relative Strength Index (RSI) stands at 51. This indicates that AVAX is not overbought and has potential for more buying, as of this writing. With Avalanche Spot ETFs filed, the coin could be poised for long-term gains as investor conviction rises.

 

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partyushgoyal

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Ethereum Dapps Generate Over $1 Billion in Fees in Q1 2025

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Ethereum remains the top blockchain in activity and revenue as of Q1 2025, while Layer-2s and altchains catch up.

 

Blockchain utility is on the rise as countries around the globe strive for clearer regulatory measures. As a result, blockchain technology is finding utility in various aspects of the global economy, as traditional financial institutions and businesses adopt it. Decentralized applications (Dapps) and blockchain services are on demand, and builders have been quite busy in the past three months.

According to Token terminal data, Ethereum dapps have topped in blockchain revenue for Q1, 2025, with the network raking in $1.014 billion in fees.

 

Source: Token Terminal

 

Base Dapps secured the 2nd position with $193 million, while BNB Chain came in third with $170 million. Arbitrum hit $73.8 million, and Avalanche C-chain closed the top 5 list with $27.68 million.

Base, a layer-2 chain backed by Coinbase, aims to decentralize over time according to its documents. It has seen significant growth, surpassing BNB Chain for the second position as of Q1 2025.

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partyushgoyal

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Solana Leads Ethereum in 24-hour DEX Volume

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Solana has taken the top spot, leading Ethereum in daily decentralized trading volume amid a 3.5% price surge.

 

Solana and Ethereum networks account for 57% of the total trading volume from the top 10 decentralized exchanges (DEXs) in the market. In the past 24 hours, Solana has seen its DEX trading volume steadily rise, pulling ahead of Ethereum to lead the DEX pack.

According to data shared by Crypto Rand on CoinMarketCap, Solana’s 24-hour DEX volume hit $2.774 billion while Ethereum rallied behind holding 2.744 billion.

Source: CoinMarketCap

Why is Solana’s price and DEX volume surging?

Solana’s fast transaction speed and lower gas fees could be enticing for traders following a week of market frustration fueled by the global trade war. Users are likely hunting for cheaper and quicker alternatives to Ethereum-based DEXs, for instance, Jupiter and Raydium.

Despite lagging behind Solana in the past 24 hours, Ethereum remains unshakable as a DEX powerhouse in the market.

 

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partyushgoyal

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Trump Signs First-ever Crypto Bill into Law

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Trump has signed the first-ever crypto bill into law, easing regulations and encouraging DeFi innovation.

 

A controversial IRS rule that required DeFi platforms to act like traditional brokers and report user data to the authority has been limiting innovation in the digital asset market. However, on the 10th of April, in what is deemed a “major win” for the crypto space, U.S. President Donald Trump signed a new legislation repealing this barrier into law.

 

Source:Carey.house.gov

What does this mean for Bitcoin and the Future of DeFi?

Most DeFi platforms in the U.S. have faced challenges in protecting user privacy while complying with the IRS requirements of data disclosure. DeFi platforms exist to minimize the bureaucracy associated with traditional finance infrastructure.

This includes both anonymity and transparency, depending on user requirements. As a result, the IRS rule was overwhelming for most DeFi projects, hindering their growth and user adoption. With the new Legislation, DeFi projects could be in for exponential growth, pushing demand for Bitcoin and cryptocurrencies higher.

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