Weekly Crypto Update: March 31 - April 6

📊Market Movements

- Bitcoin is down 8.6% over the last 7 days, currently at $74,931
- Ethereum is sitting at $1,445 with a 19.7% decrease from the previous week
- Last week’s top 3 gainers were EOS (+18%), OKB (+3%) DAY (0.01%), while the top 3 losers were BERA (-39%), JUP (-34%), and KCS (-33%)
- The crypto market’s Fear & Greed Index is at 17 Extreme Fear today
- Crypto market capitalization at $2.37 trillion, down 10.92% since yesterday
- Stablecoins market capitalization is down 0.13% in the last 7 days, currently at $234 billion, with $USDT dominance at 61.7%
- NFT sales volume decreased by 99.6% over the previous 7 days while total sales decreased by 77% with 38,700 sales
- Bitcoin's market cap dominance is currently at 62.9%, Ethereum at 7.4%, and other cryptocurrencies at 29.7%
- Market panic amidst trade war and fears of stock market crash, Solana hits 13-month low

🌐Blockchain Tech & Gaming

- EY upgraded its enterprise-focused Ethereum Layer 2 blockchain Nightfall as a zero-knowledge rollup to speed up transaction finality
- Bitcoin staking platform Babylon Foundation to launch airdrop of BABY token
- ByBit shuts down its NFT marketplace, Inscription Marketplace, and IDO on April 8
- Crypto battle royale game Off the Grid launched its avalanche-based GUNZ network and GUN token
- Crypto gaming platform Ultra secured $12 million in funding after appointing a new CEO Gus van Rijckevorsel
- Ronin farming game Pixels token PIXEL is coming to MMORPG Forgotten Runiverse
- Crypto game Infected moves from Base to Solana network, saying “Base couldn’t handle the volume of transactions” while “Solana is where users are”

🛡️Crypto Security

- Google’s Threat Intelligence Group reveals that North Korean cyber operatives are targeting blockchain startups, marketplaces, and AI web apps in the EU and UK, posing as remote developers and using fake IDs and residency documents
- Bitcoinlib, an open-source Python library for making Bitcoin wallets, was targeted by a wallet-draining malware
- Hackers are preloading cheap counterfeit Android phones with Triada Trojan, which hijacks calls, steals crypto, and user credentials
- London police opened a civil asset recovery program in collaboration with legal firm Gowling WLG to help fraud victims recover funds

📃Regulatory Developments

- STABLE Act has passed the U.S. House Committee, to create a framework for dollar-denominated stablecoins
- Tether may launch a new stablecoin in the U.S. if $USDT no longer complies with regulations, focusing $USDT on emerging markets
- UAE-based CLS Global pleads guilty to market manipulation and wire fraud; hit with $428,059 fine to the government and 3-year probation

🗞️Miscellaneous

- Fidelity now allows its clients to invest in Bitcoin ($BTC, Ethereum ($ETH), and Litecoin (LTC) through individual retirement accounts
- Franchise FAT Brands now accepts Bitcoin for franchise and royalty payments in its restaurant brands like Fatburger, Johnny Rockets, and Round Table Pizza
- Michael Saylor’s Strategy now holds 2.5% of the total Bitcoin ($BTC) supply
- Ethereum ($ETH) whale liquidated for $106M on DeFi lending platform Sky
- Prediction market Kalshi traders predict the odds of a US recession in 2025 is at 61%