Gate Crypto Flash News and Market Updates

Research by independent on-chain analyst Andrey Sergeenkov shows that 84.1% of traders on Polymarket lose money, only 2% have profits over $1,000, and 0.033% reach $100k in profits. Of the 6,600 traders with monthly profits over $5,000, only 2.6% remain consistently active for more than a year. Most traders leave after trading for a while.

Gate News message: On April 7, according to crypto analyst Ai Yi monitor, a new address withdrew 10M ASTER from a certain CEX 15 hours ago. The withdrawal price was about $0.6703 per coin, corresponding to a value of approximately $6.7 million.

Due to delays in the legislation of the Digital Asset Basic Act, several financial institutions in South Korea have launched stablecoin payment services for foreign users, building infrastructure. Industry analysis says that such services are like a “regulatory sandbox,” helping companies validate their business models.

Gate News message, April 7, on the BSC chain, the Meme coin Freedom of Money saw continued sharp gains starting in the early hours today, briefly breaking through $22 million and continuing to set new highs; it was temporarily reported at $21.2 million. The intraday gain once reached 50%, and the 24-hour trading volume was $5 million. Note that Meme coin trading is subject to massive volatility, relies largely on market sentiment and concept hype, and has no real value or use case; investors need to be cautious about risks.

Gate News message: On April 7, Multicoin Capital co-founder Kyle Samani posted on X in response to KOL ampera, saying he is willing to take a bet on ampera’s view that “Bittensor (TAO) will enter the top 10 among all crypto assets by 2028,” and is willing to accept a maximum bet amount of $1M.

Gate News message, April 7, according to crypto analyst Ai Yi monitoring, a well-known whale address "set 10 large targets first" increased its position by 270.37 BTC at the $69,574.7 level during the market downturn. At present, this address’s BTC long position holdings total 2,520.52 BTC, with a total value of about $170 million, and an average entry price of $67,449.12, with an unrealized profit of about $2.28M.

Gate News message, April 7, according to crypto analyst Ai Yi monitoring, a certain address built a position of 4,827 ETH at about $2,047.53 between April 4 and April 5, and sold it on April 7 at about $2,100.94. This batch of ETH was transferred to a certain CEX within the past 3 hours and exchanged for USDT; the transaction amount was approximately $10.14 million. The profit from this swing trade was approximately $256k.

On April 7, the crypto market fell broadly, with only the RWA sector up slightly by 0.42%. Major coins Bitcoin and Ethereum declined by 0.34% and 0.43%, respectively. Other sectors generally contracted, but some projects such as Creditcoin and Centrifuge rose against the trend.

Web3 fan platform OneFootball Club announced that the BALLS points leaderboard is not a final ranking, and users outside the top 25k may also qualify. All participants will receive a FanPass multiplier to use for future token air drops, and up to 100k OFC tokens will be allocated to actual contributors, with reward percentages that include different vesting periods. The claim window will remain open for 2 weeks; any unclaimed portion will be returned to the treasury.

Gate News message: On April 7, according to Alex data, Japan’s stablecoin JPYC has reached a total trading volume of $136 million, of which $90 million was processed through the Polygon network, accounting for more than 60%. JPYC’s use cases on Polygon are broad, and it is mainly used for payment services on platforms such as Tria, Daimo, and CurrencyCompetition.

April 7, under the influence of the bear market, 21 crypto projects announced they would shut down or scale back services, covering areas such as wallets, DeFi, NFTs, and games. Projects like Leap Wallet and Magic Eden exited or adjusted due to market pressure; industry insiders believe this shakeout will help reshape the market, and that focusing on sustainable Web3 projects in the future will be more competitive.

Gate News message, Circle redeemed $550 million USDC on Solana within a 12-hour period. Over the past 30 days, Circle has issued $10.19 billion in USDC on the Solana blockchain.

The Polygon mainnet will undergo a Giugliano hard fork upgrade on April 8, with improvements including faster block finality, integrating fee parameters into the block header, and new RPC endpoints that support fee queries. Node operators need to upgrade to the corresponding version to ensure the network functions normally.

Russian economist Denis Astafiev said that during times of economic instability, cryptocurrency and related investment risks are extremely high, and he recommends that investors keep their allocation ratio between 5% and 10% to prevent losses.

Gate News: According to the latest Gate TradFi data, XTIUSD (WTI Crude USOIL) has surged by 2% in a short period. Current volatility is significantly higher than recent averages, indicating increased market

The Ministry of State Security issued a notice warning of the risks of “token scams,” stating that hoarding tokens and off-exchange trading may involve illegal financial activities that endanger national security. It emphasizes the need to guard against risks such as data leakage, forgery, and fraud, and reminds the public to view tokens rationally while strengthening awareness of information and privacy security.

Gate News message, April 7, according to Gate market data, as of the time of publication, CFG (Centrifuge) is trading at 0.17 US dollars. In the past 24 hours, it has risen by 7.77%, with a high of 0.17 US dollars and a low of 0.16 US dollars. The current market cap is approximately 99.9501 million US dollars. Centrifuge is a decentralized asset financing protocol that connects real-world assets to DeFi, helping to reduce capital costs for small and mid-sized enterprises, and providing DeFi investors with a stable source of yield. With Centrifuge, businesses can tokenize real-world assets and use them as collateral to obtain financing through the asset-backed lending Dapp Tinlake. Centrifuge is a professional on-chain asset management infrastructure for asset managers and investors.

Gate News update: On April 7, the crypto wallet app Phantom experienced a temporary service interruption, causing abnormal token prices and balance displays. The Phantom team said it is actively working to fix the issue.

Ethena officially announced that it will expand USDe’s collateral types after obtaining approval from an independent risk committee, with the goal of reducing concentration risk and achieving collateral structure diversification. It will cover four areas: institutional stablecoin lending and borrowing, real-world assets, basis trading in stocks and commodities, and financing for trading institutions.