Point of View: The Federal Reserve Has Over-Eased, with a 65% Chance of Stagflation in the United States

April 17th — Per official sources, the Binance Wallet browser extension now supports accounts derived from mnemonic phrases, letting users generate up to 99 separate accounts from a single set of mnemonic words. This update ensures mnemonic phrase security, streamlines efficient account management, and enables cross-chain functionality for individual accounts. The supported extension version is 1.12.0 and above.

April 17 — Per data from HyperInsight Monitoring (Telegram: @HyperInsight), the address tied to Huang Licheng (nicknamed “Brother”) marginally boosted its holdings of ETH, BTC, and HYPE in the past half-hour before simultaneously placing sell orders to lock in partial profits. The largest sell order is for ETH: the address plans to initiate profit-taking once ETH rises to $2,365, with targets extending up to $2,425, totaling approximately $4.25 million in order size. Currently, the address’s primary holding is a 25x leveraged ETH long position on the Hyperliquid platform, valued at $32.8 million. It has an average entry price of $2,253 and a liquidation price of $2,148 — making it the largest ETH long position on Hyperliquid. Address: 0x020ca66c30bec2c4fe3861a94e4db4a498a35872

April 17 (CoinDesk) — Glassnode’s Bitcoin on-chain RHODL Ratio currently stands at 4.5, its third-highest level on record. The metric signals market conditions more aligned with a cycle bottom than a top, per the data. The RHODL Ratio compares the value of Bitcoin held by long-term holders (6 months to 3 years) to that held by short-term holders (1 day to 3 months). A rising ratio typically reflects longer holding periods, reduced speculative activity, and no influx of new buyers — a dynamic seen after sharp pullbacks in 2015, 2019, and 2022. Over the past six months, Bitcoin has dropped ~50%, with young speculative coins largely washed out. Wealth has consolidated among long-term holders as a result. Historically, the ratio has only been higher twice: 5 in 2015 and 7 in 2022, both coinciding with cycle bottoms. This suggests Bitcoin may still face further downside. However, pushing the ratio to those highs usually requires near-total exhaustion of short-term holder activity —

On April 17, Singapore Gulf Bank (SGB) today announced the launch of a stablecoin issuance and redemption service. Corporate and high-net-worth clients can now directly swap fiat currency for stablecoins (and vice versa) via their SGB accounts, enabling 24/7 real-time settlement without relying on traditional correspondent banking workflows. To back the launch, SGB has taken an unprecedented step in the banking sector: waiving gas fees and bank charges for users minting or redeeming Solana-based tokens during a limited promotional period. At the close of the promo period, clients will earn rewards tied to their total transaction volume. SGB CEO Tan Shao-En noted: “Challenges with cross-border fund transfers and capital placement have emerged as key barriers to customer growth. By integrating stablecoin issuance and redemption directly into our banking system, we’ve enabled real-time fiat-to-digital asset conversions. We’re building a bank for a borderless world.” The service i

On April 17th, Bitcoin broke above $76,000, posting a 24-hour gain of 1.7% per HTX market data.