Cryptocurrency Total Market Cap Has Evaporated $874 Billion Since Trump Took Office

On April 4th at 20:30 (Beijing time), the U.S. will release the March seasonally adjusted non-farm payroll data. Based on the median forecasts of economists surveyed by Bloomberg, the growth rate of March non-farm payrolls may slow down from 151K in February to 135K, and the unemployment rate is expected to remain unchanged at 4.1%. According to CME's "FedWatch" data, the probability of the Fed cutting rates by 25 basis points in May has risen to 28.9%, which is an increase from 10.8% the previous day.

On April 4th, according to on-chain data, the total number of addresses on the Monad testnet has reached 109,868,108. In the past 24 hours, an additional 7,445,010 addresses have been added.

On April 4th, as stated by mempool founder mononaut, following the token airdrop in Babylon, there have been 256 BTC redeemed (unstaked) from Babylon within the past 24 hours. The redemption transactions have paid a total fee of 1.35 BTC and consumed 1.318 MvB of block space. mononaut thinks that the reason for the high redemption transaction fee might be that the unstaking script is large. For some reason, the protocol has locked in a fixed fee rate that was selected months ago. This might potentially be a presigned transaction.

On April 4th, the blockchain gaming platform Ultra announced the accomplishment of a $12 million new funding round. Luxembourg-based NOIA Capital participated in this round through its digital asset fund. Furthermore, the company announced the appointment of Maxime van Steenberghe, who was formerly a Partner at Circle Strategies, as the Chief Operating Officer. The newly obtained funds will be utilized to support its blockchain-based platform, which is similar to Stream in terms of game distribution. Additionally, the funds will be used for talent recruitment, platform expansion and upgrading, as well as for pursuing strategic acquisitions.

On April 4th, the co-founder of F2Pool, Wang Chun, updated his record on the X platform regarding Space Flight Day 4: "I woke up early and watched the launch of Starlink Group 11-13 on YouTube. Shortly thereafter, SpaceX got in touch with us and informed us that during the second stage burn, we would be flying over Mongolia. We opened the launch bay and tried to observe this process, but without success. Nonetheless, we flew from the Bay of Bengal to the Arctic and enjoyed the view along the way." Prior to this update, the co-founder of F2Pool, Wang Chun, began his space flight journey on the evening of March 31st by riding SpaceX's Falcon 9 rocket at the Cape Canaveral Space Force Station in Florida.

On April 4th, the US is going to release the March Non-Farm Payrolls (NFP) data today. This data will serve as a crucial indicator for the market to evaluate the future monetary policy of the Federal Reserve. Market expectations are that if the data is weak, the Fed may accelerate the interest rate cuts, which will benefit the cryptocurrency market. Conversely, if the data is strong, it will dampen risk assets. The expected Non-Farm Payrolls: 139K (previous: 151K); the expected Unemployment Rate: 4.2% (previous: 4.1%); the expected Average Hourly Earnings Monthly Growth Rate: 0.4% (previous: 0.3%). Bitunx Analyst Suggestion: A weak job market will strengthen the market's expectation of a Fed rate cut later this year, further enhancing market liquidity and the trend of risk assets. BTC is focusing on short-term support at 80K and long-term support at 78K. Recently, the cryptocurrency market has been affected by Trump's tariff policy and the expectations of global economic slowdown, inc