News
A court in India has ordered the encrypted email service Proton Mail blocked in the country for refusing to share information with authorities.
In an April 29 hearing of the High Court of Karnataka, Justice M Nagaprasanna ordered the government to “block forthwith” domain names associated with Proton Mail, citing authority under the country’s Information Technology Act of 2008. The order stemmed from a complaint filed in January by a New Delhi-based design firm, alleging that some of its employees received offensive emails through the service.
It’s unclear whether the ban will take effect or face other possible challenges in court. The Proton team reported in March 2024 that Indian authorities had similarly proposed ordering the service blocked in response to alleged “hoax bomb threats,” but it continued to operate in the country.
The crackdown on Proton Mail appeared to be part of a larger global trend to pursue action against platforms based on users’ activities, such as the arrest of Telegram founder Pavel Durov in France in part for allegedly failing to moderate illicit content. Cointelegraph reached out to Proton for comment but did not receive any response at the time of publication.
Related: Crypto projects prepare to battle for privacy in Switzerland
In Spain, Proton AG — the Swiss company behind the platform — provided information to the authorities about one of its users in 2024. The move had many privacy advocates questioning the security of their data with the centralized service.
Vying for market share in the world’s most populous country
Cryptocurrency exchanges are no stranger to legally sanctioned crackdowns attempting to curtail their activities in a country, or in some cases, face blocks or bans. US authorities imposed sanctions on crypto mixing services like Tornado Cash in 2022, facing swift backlash from the industry and legal challenges, while South Korea reportedly blocked 14 exchanges on the Apple store for allegedly operating without the proper registration.
In India, users face a 30% tax on profits from crypto trading, which has been in effect since April 2022. Though crypto firms operating in the country endure increasing regulatory oversight, India is estimated to have more than 100 million digital asset holders out of its roughly 1.4 billion people.
Magazine: Pokémon on Sui rumors, Polymarket bets on Filipino Pope: Asia Express
The US Securities and Exchange Commission (SEC) has postponed deciding on whether to greenlight two proposed cryptocurrency exchange-traded funds (ETFs) holding Dogecoin and XRP, filings show.
The US regulator has delayed its deadline for ruling on the proposed ETF listings until June, according to two filings reviewed by Cointelegraph.
The filings were responses to March requests from US exchanges NYSE Arca and Cboe BZX Exchange to list Bitwise’s Dogecoin (DOGE) ETF and Franklin Templeton’s XRP (XRP) ETF, respectively.
They came on the same day that Nasdaq, another US exchange, asked for permission to list a 21Shares Dogecoin ETF.
Dogecoin is the world’s most heavily traded memecoin, with a market capitalization of around $26 billion as of April 29, according to data from CoinGecko. XRP is the native token of the XRP Ledger blockchain network. It has a market capitalization of approximately $133 billion, CoinGecko data shows.
Related: Institutions break up with Ethereum but keep ETH on the hook
Deluge of filings
In 2025, the SEC has fielded requests to authorize dozens of altcoin ETFs for US listing. As of April 21, approximately 70 crypto ETFs were awaiting the SEC’s review.
Asset managers are proposing funds holding “[e]verything from XRP, Litecoin and Solana to Penguins, Doge and 2x Melania and everything in between,” Bloomberg analyst Eric Balchunas said in an April 21 post on the X platform.
The deluge of proposals comes as US President Donald Trump pushes the SEC to take a more accommodating stance toward cryptocurrencies.
However, analysts caution investor demand for altcoin ETFs may be tepid in comparison to funds holding core cryptocurrencies such as Bitcoin (BTC) and Ether (ETH).
“Having your coin get ETF-ized is like being in a band and getting your songs added to all the music streaming services,” Balchunas said.
“Doesn’t guarantee listens but it puts your music where the vast majority of the listeners are.”
Although US exchanges are embracing crypto ETFs, they are also urging the SEC to take a tough regulatory posture toward digital assets. In an April 25 comment letter, Nasdaq encouraged the SEC to hold digital assets to the same compliance standards as securities if they constitute “stocks by any other name.”
Magazine: Financial nihilism in crypto is over — It’s time to dream big again
Bitget, a cryptocurrency exchange with 100 million users, has announced a partnership with Avalanche to support community initiatives across India, one of the fastest-growing areas for crypto and Web3 developers.
The partnership will see at least $10 million doled out in mini-grants, scholarships, hackathons, and workshops to the Web3 community in the country. The initial focus will be in Delhi and Bangalore. Delhi is the most populous city in India, and Bangalore is known as the local “Silicon Valley.”
Cryptocurrency activity in India has surged over the past two years. According to CoinSwitch, a local exchange, crypto investment across the country accelerated in 2024, with the highest concentrations in Delhi (20.1%), Bengaluru (9.6%), and Mumbai (6.5%). Youth 18- to 35-years-old now account for nearly 75% of the country's crypto investors. While Bitcoin (BTC) and Ether (ETH) remained popular choices, Dogecoin (DOGE) attracted the most investment in 2024, with other memecoins like Shiba Inu (SHIB) and Pepe (PEPE) also gaining significant traction.
Related: India has no plans to regulate crypto sales and purchases
India's tech market
The growth of India’s crypto ecosystem coincides with a wave of global exchanges either reentering the market or actively exploring a return. In February 2025, Bybit registered with local authorities and restored services in the country. In the same month, Coinbase began discussions with regulators seeking a comeback in the Indian market.
India is expected to be among the first countries to finalize a bilateral trade agreement with the United States, aiming to avoid the imposition of reciprocal tariffs by President Donald Trump. In addition, the country is reportedly seeking a pact with the US to gain access to certain technologies and exports.
According to Web3 venture capital firm Hashed Emergent, India already accounts for 12% of Web3 developers worldwide and contributed 17% of all new developers entering the crypto space in 2024.
Related: Indian authorities arrest alleged Garantex founder for US extradition
Key takeaways:
Bitcoin tends to rally significantly when low leverage meets stronger-than-expected retail sales and hawkish Federal Reserve signals.
In three separate 7-week periods, Bitcoin rose 50% to 84%.
Upcoming speeches from Fed Chair Jerome Powell could benefit Bitcoin price.
Bitcoin (BTC) price rallies are frequently linked to investors’ inflation concerns or data that surpasses expectations for economic growth, yet clear signals of an impending rally are rare. However, a combination of three independent events has historically coincided with BTC price surges of 50% or more.
Significant Bitcoin rallies occur when US Federal Reserve policy expectations ease, crypto market leverage is low, and strong retail data supports bullish momentum. The last occurrence of these three events saw Bitcoin’s price climb from $40,000 to $73,500 in seven weeks in early 2024.
Comparable gains were recorded in early 2023, when the same three drivers aligned, propelling Bitcoin from $16,700 to $25,100 over seven weeks. A third example dates back to July 2021, culminating in a 76% price increase.
Bitcoin gained 84% from Jan. 25, 2024, to March 13, 2024
After stagnating near $43,000 in December 2023, Bitcoin’s price tested the $48,000 level in early January 2024. The failed breakout was followed by a sharp drop to $37,800 by late January, just as a seven-week bullish trend began. A crucial factor at this stage was the exceptionally low perpetual futures funding rate, sitting at 4% per year.
Other factors impacting the price reversal was US retail sales data for December 2023, released on Jan. 17, 2024, exceeded expectations, rising 0.6% month-over-month compared to the 0.4% forecast and US Federal Reserve Chair Jerome Powell’s Jan. 31, 2024 press conference that, signaled a tighter monetary stance, with no immediate interest rate cuts in sight.
Bitcoin gained 50% from Jan. 3, 2023, to Feb. 20, 2023
Prior to this rally, Bitcoin had consolidated below $18,000 for two months, resulting in minimal demand for leveraged long positions, as reflected by a near-zero perpetual futures funding rate.
The landscape shifted on Jan. 3, 2023, when the funding rate on Binance surged to 50% within four days. This coincided with stronger-than-expected retail sales data for January 2023, which rose 3% month-over-month, outpacing the 1.9% consensus. Notably, Fed Chair Powell also suggested a tighter monetary policy to combat inflation during his speech at Sveriges Riksbank on Jan. 10, 2023.
Bitcoin 76% rally: July 20, 2021 – Sept. 7, 2021
From July 20, 2021, to Sept. 7, 2021, Bitcoin gained 76%. Bitcoin’s price had dropped from $40,000 to below $30,000 over the preceding month, dampening market sentiment. Suddenly, the annualized Bitcoin funding rate jumped from 0% to 37% in two weeks, while US retail sales data for June 2021 surprised economists by increasing 0.6%, even though consensus had predicted a 0.4% decline.
During this period, Powell’s remarks at the Jackson Hole Economic Symposium on Aug. 27, 2021, indicated a potential reduction in central bank asset purchases, which was a move aimed at curbing inflation.
Related: Ray Dalio says global monetary order ‘on the brink’ of breakdown
Bitcoin’s next potential upswing
The common thread linking these significant rallies is a reduction in expectations for expansionary Federal Reserve policy and initially low leverage demand from Bitcoin bulls. When these factors coincide with robust retail data, they create ideal conditions for a Bitcoin bull run, as traders tend to remain cautious ahead of possible economic downturns.
Looking ahead, Fed Chair Powell is set to speak on June 18 following the central bank’s interest rate decision. Additional key dates include the Beige Book release on July 16 and the Jackson Hole Economic Symposium starting Aug. 21. Monitoring US retail sales data for May, due June 17, and for June, due July 15, will also be important.
This article is for general information purposes and is not intended to be and should not be taken as legal or investment advice. The views, thoughts, and opinions expressed here are the author’s alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.
Update (April 29 at 8:54 pm UTC): This article has been updated to include comments from Bunq's CEO to Cointelegraph.
Europe’s second-largest neobank, Bunq, is expanding into cryptocurrency, citing growing retail investor demand for digital assets worldwide.
The Amsterdam-based neobank announced the launch of Bunq Crypto on April 29, a new offering enabling its users to invest in over 300 cryptocurrencies, including Bitcoin (BTC), Ether (ETH) and Solana (SOL).
Starting April 29, Bunq users in the Netherlands, France, Spain, Ireland, Italy and Belgium will be able to access cryptocurrencies directly through the Bunq app, according to an announcement.
Bunq CEO Ali Niknam told Cointelegraph that the move was driven by growing client demand for digital assets. "We believe that now many, many people, the large majority, are interested in crypto, and we believe that they're interested in buying crypto through an environment that they can trust, and they can relate to and they can recognize," he said.
Moreover, a friendlier regulatory landscape helped clear the path for the bank’s expansion into crypto. "I think for a long time, the future of crypto from a regulatory perspective was a bit unclear. And we have seen a lot of that change over the course of the past couple of months. And so we felt sufficiently assured as a regulated entity to now offer this to the general public," Niknam said.
The crypto offering is powered in partnership with Kraken, the 14th-largest centralized cryptocurrency exchange globally by trading volume.
Related: Coinbase to launch yield-bearing Bitcoin fund for institutions
All-in-one financial platforms in focus
This marks the first phase of Bunq’s global crypto expansion, with plans to gradually roll out trading across the entire European Economic Area, as well as in the United States and the United Kingdom.
As of June 2024, Bunq reported more than 12.5 million users, up from nine million users a year earlier.
Bunq’s move reflects a broader trend among financial institutions seeking to consolidate services — banking, savings and investing — into single digital platforms.
In a February post on X, Coinbase CEO Brian Armstrong said he expects future financial systems to be anchored by “a single primary financial account” where users manage all their financial activities.
Related: Bitcoin treasury firms driving $200T hyperbitcoinization — Adam Back
Demand for simplified crypto access
Research commissioned by Bunq indicates a significant gap between available crypto offerings and user expectations in Europe. An estimated 65% of European consumers are seeking a unified platform to manage banking, savings and cryptocurrency investments, according to the study.
Over 50% of surveyed investors want crypto exposure but said the existing platforms don’t meet their requirements, particularly regarding simplicity and security for new investors.
“Our users across the world have long waited for a simple, safe and straightforward way to invest in digital assets,” said Ali Niknam, founder and CEO of Bunq. “Now, everything they will ever need to save, spend and invest — including crypto — is on one platform.”
Bunq’s crypto expansion follows Revolut’s move in November 2024 to expand its crypto exchange services across 30 European Economic Area markets.
Magazine: Ethereum is destroying the competition in the $16.1T TradFi tokenization race
Key Takeaways:
Fidelity Digital Assets’ report said that multiple Ethereum onchain metrics suggest ETH trades at a discount.
The BTC/ETH market cap ratio is at mid-2020 levels.
Ethereum's layer-2 active addresses hit new highs at 13.6 million.
Fresh data from Fidelity Digital Assets hints at a cautiously optimistic outlook for Ethereum, suggesting its dismal Q1 performance could be an opportunity. According to their latest Signals Report, Ether (ETH) dipped 45% during Q1, wiping out it post-US election gains after peaking at $3,579 in January.
The altcoin posted a death cross in March, with the 50-day simple moving average (SMA) dipping 21% below the 200-day SMA, reflecting bearish momentum. Yet, Fidelity noted that the short-term pain may swing in the altcoin’s favor.
The investment firm pointed out that the MVRV Z-Score, which compares market value to realized value, dropped to -0.18, entering the "undervalued" zone on March 9. Historically, such levels have marked market bottoms, indicating that Ether “was looking cheap” compared to its “fair value.” The Net Unrealized Profit/Loss (NUPL) ratio also fell to 0, indicating "capitulation," where unrealized profits equal losses, citing a neutral spot for holders.
ETH’s realized price, averaging $2,020, sits 10% above its current value, showing holders face unrealized losses. While this trend is bearish, the firm noted that a minor 3% drop in realized price versus a 45% decline suggests short-term holders sold off, while long-term holders held firm, possibly stabilizing the base price.
However, the company highlighted that in 2022, despite ETH price dipping below the realized price, it continued to decline further before recovery.
Fidelity also cited Ethereum’s market cap ratio to Bitcoin at 0.13, sitting at mid-2020 levels, and in a decline for 30 months.
Related: Ethereum price has several reasons to break $2,000 next
Ethereum ecosystem engagement records fresh highs
Data from growthepie.xyz indicated that the number of unique addresses interacting with one or two layer 2 networks in the Ethereum ecosystem reached a new all-time high of 13.6 million active addresses. The rate of active addresses is up 74% over the past week, implying the network’s scalability prowess and growing adoption.
Unichain, a new layer-2 protocol by Uniswap, led the charge with over 5.82 million weekly active addresses, surpassing Base and Arbitrum. The collective increase in active addresses improved Ethereum’s layer-2 dominance by 58.74% in the past seven days.
Anonymous crypto trader CRG noted that ETH price recovered a position above the 12-hour Ichimoku cloud indicator for the first time since December 2024. The Ichimoku Cloud indicates an uptrend when the price is above the cloud and the cloud turns green, indicating bullish sentiment.
Related: Global central bank gold rush could spark Bitcoin price run to new all-time highs
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
The United States exchange Nasdaq has asked regulators for permission to list a 21Shares exchange-traded fund (ETF) holding the popular memcoin Dogecoin, regulatory filings show.
The move follows 21Shares’ April 10 filing of its initial proposal to launch its Dogecoin ETF, shortly after similar applications from rivals Bitwise and Grayscale. The asset manager has also sought regulators’ permission to list ETFs holding other cryptocurrencies, including Solana (SOL), XRP (XRP), and Polkadot (DOT).
Nasdaq must gain approval from the Securities and Exchange Commission (SEC) before it can list and trade the fund. The request amounts to a regulatory review process that could determine whether Dogecoin becomes accessible to a broader range of investors through an ETF structure.
Related: 21Shares files for spot Dogecoin ETF in the US
Onslaught of altcoin ETFs
Fund issuers requested to list dozens of altcoin ETFs after US President Donald Trump instructed the SEC to take a friendlier stance toward cryptocurrencies after his second term began in January.
As of April 21, more than 70 crypto ETFs were awaiting the SEC’s review. The list includes alternative layer-1 (L1) native tokens, such as SOL and Sui (SUI), as well as memecoins such as Bonk (BONK) and Official Trump (TRUMP).
While exchanges such as Nasdaq seek to list more crypto ETFs, they are also pushing for firmer US regulatory oversight of digital assets. In an April 25 comment letter, Nasdaq urged the SEC to hold digital assets to the same regulatory standards as securities if they constitute “stocks by any other name.”
Dogecoin utility
Dogecoin (DOGE) is a popular memecoin with a market capitalization of nearly $26 billion as of April 29, according to CoinGecko.
It is distinct from most other memecoins because DOGE is the native token of the Dogecoin network.
The proof-of-work blockchain network is designed as a faster, cheaper alternative to Bitcoin (BTC) for peer-to-peer payments.
It processed more than 40,000 transactions in the past 24 hours, according to data from Bitinfocharts.com.
In September 2024, blockchain developers QED Protocol and Nexus tipped plans to launch a layer-2 (L2) scaling solution designed to bring smart contracts to Dogecoin.
Magazine: Altcoin season to hit in Q2? Mantra’s plan to win trust: Hodler’s Digest, April 13 – 19
The United Kingdom’s Treasury and Chancellor of the Exchequer, Rachel Reeves, have proposed new crypto rules aimed at “support[ing] innovation while cracking down on fraudsters.”
In an April 29 notice, the UK government announced draft rules for cryptocurrencies, including Bitcoin (BTC) and Ether (ETH), that would bring “crypto exchanges, dealers and agents” in line with regulations, as many residents were “exposed to risky firms and scams.” It cited discussions with US government officials, including a proposed US-UK cross-border sandbox from the Securities and Exchange Commission’s Hester Peirce.
“Today’s announcement sends a clear signal: Britain is open for business — but closed to fraud, abuse, and instability,” said the notice. “The government will bring forward final cryptoasset legislation at the earliest opportunity, following engagement on the draft provisions with industry.”
Related: UK trade bodies ask government to make crypto a ‘strategic priority’
Treasury and Reeves said the UK was committed to making the country a “global hub for digital asset technologies,” referencing the goals of the previous government under the Conservative Party. A 2023 consultation paper from Treasury proposed “bringing a wide range of cryptoasset activities” — including trading and issuing stablecoins — in line with UK regulations.
Praise from industry
In a statement shared with Cointelegraph, Ian Silvera, the associate director for the self-regulatory trade association CryptoUK, called the government announcement a “very much welcomed and a big victory” for crypto firms. However, he added that the industry could also benefit from regulatory clarity on liquid staking and DeFi.
“Though there has been good regulatory progress from the [Financial Conduct Authority], which published its crypto roadmap late last year, the UK government first committed to becoming a global crypto hub in 2022,” said Silvera. “Progress has been slow since then, but as the Chancellor has recognised herself the mainstreaming of the industry has continued, with now 12% of all UK adults owning some sort of crypto, up from 4% in 2021.”
The FCA plans to publish final rules on crypto sometime in 2026, setting the groundwork for the UK regulatory regime to go live. The roadmap to greater regulatory clarity in the UK could follow the European Union, which started to implement its Markets in Crypto-Assets (MiCA) framework in December.
Magazine: Financial nihilism in crypto is over — It’s time to dream big again
Opinion by: Felix Xu, co-founder of ARPA Network and Bella Protocol
AI has been a dominant narrative since 2024, but users and companies still cannot completely trust it. Whether it’s finances, personal data or healthcare decisions, hesitation around AI’s reliability and integrity remains high.
This growing AI trust deficit is now one of the most significant barriers to widespread adoption. Decentralized, privacy-preserving technologies are quickly being recognized as viable solutions that offer verifiability, transparency and stronger data protection without compromising AI’s growth.
The pervasive AI trust deficit
AI was the second most popular category occupying crypto mindshare in 2024, with over 16% investor interest. Startups and multinational companies have allocated considerable resources to AI to expand the technology to people’s finances, health, and every other aspect.
For example, the emerging DeFi x AI (DeFAI) sector shipped more than 7,000 projects with a peak market cap of $7 billion in early 2025 before the markets crashed. DeFAI has demonstrated the transformative potential of AI to make decentralized finance (DeFi) more user-friendly with natural language commands, execute complex multi-step operations, and conduct complex market research.
Innovation alone hasn’t, however, solved AI’s core vulnerabilities: hallucinations, manipulation and privacy concerns.
In November 2024, a user convinced an AI agent on Base to send $47,000 despite being programmed never to do so. While the scenario was part of a game, it raised real concerns: Can AI agents be trusted with autonomy over financial operations?
Audits, bug bounties and red teams help but don’t eliminate the risk of prompt injection, logic flaws or unauthorized data use. According to KPMG (2023), 61% of people still hesitate to trust AI, and even industry professionals share that concern. A Forrester survey cited in Harvard Business Review found that 25% of analysts named trust as AI’s biggest obstacle.
That skepticism remains strong. A poll conducted at The Wall Street Journal’s CIO Network Summit found that 61% of America’s top IT leaders are still experimenting with AI agents. The rest were still experimenting or avoiding them altogether, citing lack of reliability, cybersecurity risks and data privacy as top concerns.
Industries like healthcare feel these risks most acutely. Sharing electronic health records (EHR) with LLMs to improve outcomes is promising, but it is also legally and ethically risky without airtight privacy protections.
For example, the healthcare industry suffers adversely from data privacy breaches. This problem compounds when hospitals share EHR data to train AI algorithms without protecting patient privacy.
Decentralized, privacy-preserving infrastructure
J.M. Barrie wrote in Peter Pan, “All the world is made of faith, and trust, and pixie dust.” Trust isn’t just a nice to have in AI — it’s foundational. AI’s projected economic boon of $15.7 trillion by 2030 may never materialize without it.
Enter decentralized cryptographic systems like zero-knowledge succinct non-interactive arguments of knowledge (ZK-SNARKs). These technologies offer a new path: allowing users to verify AI decisions without revealing personal data or the model’s inner workings.
By applying privacy-preserving cryptography to machine learning infrastructure, AI can be auditable, trustworthy and privacy-respecting, especially in sectors like finance and healthcare.
Recent: Blockchain’s next big breakthroughs: What to watch
ZK-SNARKs rely on advanced cryptographic proof systems that let one party prove something is true without revealing how. For AI, this enables models to be verified for correctness without disclosing their training data, input values or proprietary logic.
Imagine a decentralized AI lending agent. Instead of reviewing full financial records, it checks encrypted credit score proofs to make autonomous loan decisions without accessing sensitive data. This protects both user privacy and institutional risk.
ZK technology also addresses the black-box nature of LLMs. By using dynamic proofs, it’s possible to verify AI outputs while shielding both data integrity and model architecture. That’s a win for users and companies — one no longer fears data misuse, while the other safeguards its IP.
Decentralized AI
We’re entering a new phase of AI where better models aren’t enough. Users demand transparency; enterprises need resilience; regulators expect accountability.
Decentralized, verifiable cryptography delivers all three.
Technologies like ZK-SNARKs, threshold multiparty computation, and BLS-based verification systems aren’t just “crypto tools” — they’re becoming the foundation of trustworthy AI. Combined with blockchain’s transparency, they create a powerful new stack for privacy-preserving, auditable and reliable AI systems.
Gartner predicted that 80% of companies will be using AI by 2026. Adoption won’t be driven by hype or resources alone. It will hinge on building AI that people and companies can actually trust.
And that starts with decentralization.
Opinion by: Felix Xu, co-founder of ARPA Network and Bella Protocol.
This article is for general information purposes and is not intended to be and should not be taken as legal or investment advice. The views, thoughts, and opinions expressed here are the author’s alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.
Key points:
Bitcoin’s most recently-moved supply segment is increasing as higher prices see an influx of “speculative capital.”
“Hot supply” has doubled in just five weeks versus local lows in March.
Active address numbers have yet to mimic a classic bull market comeback.
Bitcoin (BTC) short-term holders (STHs) are back in the game as a “speculative capital” enters the market.
In an X thread on April 29, onchain analytics firm Glassnode reported a surge in Bitcoin’s so-called “hot capital.”
Bitcoin sees “surge in capital turnover”
New investors are entering the market as BTC price action circles its highest levels in several months.
Glassnode reveals that the sum of coins which last moved up to a week ago has reached its largest figure since early February.
“This metric captures short-term holder activity and is a proxy for speculative capital entering the market,” it explains.
In the past week alone, hot capital has shot up by over 90% to near $40 billion. Since local lows in late March, hot capital has increased by $21.5 billion, a “surge in capital turnover” which underscores a sea change in market sentiment.
“BTC hot capital bottomed at $17.5B on 23 Mar - its lowest level since Dec,” Glassnode summarizes.
“In just 5 weeks, it has added over $21.5B, suggesting a rapid shift from dormancy to speculation among newer market entrants.”
BTC bull market comeback in progress
As Cointelegraph continues to report, STH investors have recently returned to aggregate profit as price hovers near $95,000.
Related: Bitcoin in 'critical zone' as triple breakout meets $93.5K support battle
Analyzing overall network participation, however, Glassnode suggested that a full bull market comeback has not yet taken place.
“Signs of early FOMO are emerging, with the Hot Capital Share ticking higher and profitability metrics like Percent Supply in Profit (86%) and NUPL (0.53) expanding notably,” it wrote in an introduction to its latest “Market Pulse” analysis piece released on April 28.
“However, while on-chain activity such as transfer volume and fees are recovering, daily active addresses remain suppressed, suggesting that full organic network engagement is still rebuilding.”
Earlier this week, other sources reported on the potential dangers of “FOMO” when it comes to an enduring BTC price recovery.
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
New analysis on April 29 from Axel Adler Jr., a contributor to onchain analytics platform CryptoQuant, shows