24H Hot Tokens & Key News｜Pump.fun Accumulatively Purchased 35% of PUMP's Circulating Supply; US and Iran May Resume Negotiations (April 21)
- Core View: The cryptocurrency market has recently shown a mild overall upward trend, with major tokens broadly rising. Market focus is dispersed across regulatory developments, major security incidents, project financing, and industry leaders' assessments of the market cycle.
- Key Elements:
- Market Performance: Mainstream tokens on CEXs generally rose, with BTC, ETH, SOL, etc., posting 24-hour gains between 1-3%; Meme coin BASED led the 24-hour gainers list with a 38.95% increase.
- Regulatory Developments: US senators are pushing to delay the review of the crypto market structure bill until May, aiming to secure more negotiation time for stablecoin regulatory solutions.
- Security Incident: LayerZero disclosed that KelpDAO suffered an attack resulting in approximately $290 million in losses. The attack stemmed from a flaw in its single DVN configuration, with no vulnerability in the protocol itself.
- Project Financing: JPY stablecoin issuer JPYC completed a Series B extension financing of approximately $17.62 million, bringing its total expected financing to around $28.93 million.
- Market Perspectives: Bitmine Chairman Tom Lee believes the crypto bear market is nearing its end, with ETH benefiting from asset tokenization and the AI narrative; BIT analysis points to recent signs of improving market liquidity.
1. CEX Hot Tokens
Top 10 CEX Trading Volume and 24-hour Price Changes:
- BTC: + 2.22%
- ETH: + 1.62%
- SOL: + 1.83%
- XRP: + 1.44%
- DOGE: + 1.60%
- BNB: + 1.57%
- TRX: - 0.30%
- AAVE: + 0.07%
- ZEC: + 2.76%
- LINK: + 1.67%
24-Hour Top Gainers (Data Source: OKX):
- BASED: + 38.95%
- CETUS: + 21.01%
- OFC: + 20.66%
- ORDI: + 18.24%
- CORE: + 17.69%
- ALLO: + 13.07%
- SSV: + 10.75%
- CHZ: + 10.26%
- FLOW: + 10.10%
- BAT: + 9.65%
24-Hour Top Gainers - Tokenized Stocks (Data Source: msx.com):
- POET.M: 18.87%
- LWLG.M: 15.79%
- BLNK.M: 15.32%
- EBON.M: 15.22%
- USAR.M: 14.79%
- VCX.M: 12.70%
- CRDO.M: 12.58%
- VVPR.M: 11.23%
- TGL.M: 10.07%
- YSS.M: 10.05%
2. On-Chain Hot Memes (Data Source: GMGN):
- ASTEROID
- WOJAK
Headlines
According to disclosures from the Pump.fun Ecosystem, Pump.fun purchased approximately $6.5 million worth of PUMP in the past 7 days. Data shows its cumulative purchases have reached about $363 million, corresponding to roughly 34.96% of the circulating supply.
Trump Says Iran Will Negotiate, Hopes for a "Fair Deal"
Former US President Donald Trump stated in a phone interview that Iran "will negotiate" and expressed confidence in potential talks scheduled in Pakistan. Trump said, "They will negotiate, and if they don't, they will face unprecedented problems." He also expressed hope that both sides could reach a "fair deal" and emphasized that Iran "will not have nuclear weapons." He defended military action against Iran, saying there was "no choice," and claimed the final "cleanup work" would be completed.
ZachXBT: Never Promoted or Published Meme Coin Contract Addresses
On-chain investigator ZachXBT stated that he has never promoted, deployed, or published any Meme coin contract addresses to his followers through his personal account. He added that he only maintains a public donation address to fund related work and sells all tokens sent to that address.
Probability of Fed Keeping Rates Unchanged in April at 100%
According to the CME FedWatch Tool: The probability of the Fed raising interest rates by 25 basis points in April is 0%, and the probability of keeping rates unchanged is 100%. The probability of a cumulative 25 basis point rate cut by June is 2.5%, and the probability of keeping rates unchanged is 97.5%.
Industry News
US Senator Thom Tillis is urging the Senate Banking Committee to delay consideration of the crypto market structure bill until May to secure more time for finalizing a regulatory compromise on stablecoins between banks and the crypto industry. This move aims to provide additional negotiation space for key disagreements surrounding stablecoins and promote the formation of a more feasible regulatory framework.
Project News
Paradigm Unstaked 2.14 Million HYPE Tokens Last Night, Worth $88 Million
According to MLM monitoring, Paradigm unstaked 2.14 million HYPE tokens last night across multiple addresses, worth approximately $88 million.
Polymarket: Noticed Trading Execution Interruption, Working to Restore Service ASAP
Polymarket website notice: We have noticed an interruption in trade execution and are working to restore service as soon as possible.
LayerZero: KelpDAO Attack Limited to Its rsETH Configuration, Protocol Itself Has No Vulnerability
LayerZero Labs posted on X that the attack on KelpDAO on April 18, resulting in a loss of approximately $290 million, is preliminarily attributed to the Lazarus Group. The attack was executed by poisoning the downstream RPC infrastructure relied upon by KelpDAO's decentralized validation network (DVN). The attacker controlled some RPC nodes and used DDoS attacks to induce the system to switch to malicious nodes, thereby forging cross-chain transactions. All affected RPC nodes have now been taken offline and replaced, and the DVN has resumed operation.
LayerZero emphasized that this incident was limited to KelpDAO's rsETH application configuration and did not affect other assets or applications. KelpDAO's use of a single DVN architecture without a multi-DVN redundancy mechanism prevented it from identifying forged messages. The LayerZero protocol itself had no vulnerability, and applications configured with multiple DVNs were unaffected. LayerZero will push all single-DVN configured projects to migrate to a multi-DVN architecture and has suspended signature and verification services for 1/1 configured applications. It is also assisting law enforcement in tracking the stolen funds.
Financing
The issuer and operator of the yen stablecoin JPYC announced the completion of an approximately $17.62 million extension in its Series B second closing. Combined with the first closing, the cumulative financing is expected to reach approximately $28.93 million. Participants include NCB Venture Capital, Metaplanet, Hokuyo Bank, Yokohama Capital, and others. The funds will be used for system and application development, business expansion talent recruitment, stablecoin issuance and redemption, trading, payment and management-related operations, and new strategic investments. JPYC stated that as of April 15, its cumulative issuance has exceeded approximately $13.21 million. It currently supports Avalanche, Ethereum, and Polygon, and is considering adding Kaia and Arc.
Voices
Dragonfly partner Haseeb Qureshi posted on X, stating that DeFi grows precisely through repeated failures. From the Terra collapse, the "Black Thursday" liquidation failures in 2020, to the stETH de-pegging event in 2022, the industry has repeatedly faced setbacks but progressed through corrections each time. This process is no different from the development path of traditional finance, such as the 2008 financial crisis or the savings and loan crisis of the 1980s, both of which improved systems through crises.
Tom Lee: Crypto Bear Market Nearing End, ETH Benefits from Asset Tokenization and AI Narratives
Bitmine Chairman Tom Lee stated that market signals indicate the current "crypto winter" is nearing its end. He pointed out that since the low point in early February, ETH has rebounded about 41% and has recently outperformed the S&P 500. He believes Ethereum is currently benefiting from two major narrative drivers: the advancement of traditional financial asset tokenization and the rising demand from AI systems for public blockchain infrastructure. Additionally, he noted that historically, crypto bear markets have often coincided with significant stock market corrections, and current macro-environmental changes might suggest this cycle is nearing its end.
DefiLlama Founder Responds to Aave TVL Controversy: Impact of Circular Borrowing Already Excluded
DefiLlama founder 0xngmi posted on X, stating that the current claim that Aave's TVL is inflated due to circular borrowing is inaccurate. He explained that in TVL statistics, borrowed assets are excluded, so circular borrowing does not inflate the total value locked. For example, deposited assets are counted in TVL, while the corresponding borrowed portion is offset. He added that DefiLlama has already excluded double-counting caused by collateral loops related to Ethena and believes the related质疑 lack basis.
Gate founder and CEO Dr. Han stated in a media group interview at the Rosewood Hong Kong that prediction markets, while appearing as a new trading category, are fundamentally closer to "information pricing" tools. Users express judgments on event outcomes through trading, not only forming trading behavior but also continuously generating collective probability consensus, transforming real-world information flow into data that can be priced and verified by the market.
Dr. Han believes the significance of prediction markets for exchanges lies not only in enriching product forms but also in expanding user participation dimensions, from simply trading assets to judging events themselves. In the long term, as infrastructure continues to improve, prediction markets have the potential to evolve from short-term trends into something akin to "information infrastructure," becoming an important carrier connecting information and capital.
BIT released a chart today, stating that since last October, Bitcoin has been in an adjustment phase, with weak capital flows being one of the more obvious reasons. During the same period, Tether's market cap hovered around $183 billion, with limited overall growth. The market lacked significant new capital inflows, putting overall price pressure and keeping sentiment relatively cautious.
