Glassnode: Bitcoin's New Holder Supply has been strong and selling pressure has been mild, helping to support the continuation of the upward trend
On April 28th, Glassnode presented the latest update on Bitcoin supply dynamics. It indicates that both first-time buyers and hodlers are continuously demonstrating strong participation, while profit takers are maintaining a moderate level of activity. This serves as a positive indication as it shows that the demand from newcomers and trend followers remains robust and no significant selling pressure has emerged, which is conducive to supporting the sustainability of the recent uptrend.
Meanwhile, regarding Ethereum, the activity of first-time buyers has witnessed a significant rebound for the first time since February. Additionally, the momentum buyer activity over the past 7 days has been on the rise. However, the activity of profit takers is also increasing, which provides context for the recent slowdown in the recovery of the ETH price.
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JPMorgan: Stablecoin Market Cap Expected to Reach $500 Billion to $750 Billion in the Next Few Years
On April 28th, JPMorgan Chase (JPM) indicated that the most likely estimate is that the market size of stablecoins is projected to expand to a range of $500 billion to $750 billion in the forthcoming years. Supposing that 70% of this is assigned to U.S. Treasury securities and 30% is allocated to Treasury repurchase agreements, stablecoin issuers would ascend to the third-largest purchaser of U.S. Treasury securities.
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Analyst: Manufacturing Data Causes Dollar to Return to Lows
On April 28th, the analysts of the financial website Forexlive stated that the US Dollar has once again reached a low point. US stocks are maintaining stability while the dollar remains weak. The decline of the dollar is accelerating, which is an ominous sign. The latest downward movement occurred as the Dallas Fed manufacturing index fell to its lowest level since May 2020. The report is filled with concerns about tariffs and uncertainties in the real economy.
The market is weighing whether all this bad confidence data really does predict an economic slowdown. Each such data point weakens the case for bullishness, especially after the strong rebound of US stocks and the dollar last week. (FXStreet)
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Ika Receives Strategic Investment from Sui Foundation, Total Funding Surpasses $21 Million
On April 28th, according to chainwire, the Multiparty Computation (MPC) network Ika announced that it has obtained a strategic investment from the Sui Foundation. As a result, its total funding has reached more than 21 million US dollars. Furthermore, the network is on the verge of being launched on Sui.
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Trump's 100-Day Presidential Inauguration Rally will be held in Michigan on April 29th.
On April 28th, according to official channels, "Securing American Greatness" is scheduled to host a large-scale event to commemorate Donald Trump's first 100 days in office as the President of the United States. The event will be held in Michigan on April 29th. Subsequently, Trump retweeted the link for event registration.
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Jupiter has announced the launch of Ultra v2 Mode, offering Gas-Free Transaction Support
April 28th. According to official channels, Jupiter has announced the launch of Ultra v2 mode. This mode enables users to find the best price for actually executing exchange transactions. Ultra v2 provides dynamic broadcast mode, dynamic Gas fee adjustment, top-tier MEV protection, and a proprietary broadcast engine.
Ultra v2 users can receive priority support. In case a transaction encounters problems or the exchange transaction does not meet expectations, Jupiter will offer 24/7 assistance.
Ultra v2 offers gas-free transaction support. This allows users to directly exchange any token even if there is no SOL in their wallet. Network fees are handled by Jupiter in the background, relieving users of the worry. To cover relevant costs, Jupiter may impose a small additional fee based on the specific transaction.
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