Conor McGregor, once the most famous fighter in the world, has launched a virtual asset (cryptocurrency). On the 6th (local time), McGregor announced the launch of the REAL token through his X (formerly Twitter), saying, "I changed fighting, and I changed the whiskey business," and "Now it's time to change virtual assets." The REAL token aims to encourage fans' participation in sports culture.
Amidst stalled ceasefire negotiations to end the war in Ukraine, Russia has launched a large-scale airstrike against Ukraine. According to Reuters on the 6th (local time), Ukrainian military authorities stated that Russia conducted airstrikes on the capital Kyiv overnight. Vitaliy Klitschko, the mayor of Kyiv, posted on Telegram, "There has been bombing in the capital," and urged residents to "stay in shelters as the air defense system is operational."
As the second listing vote on the world's largest exchange, Binance, is underway, it has been revealed that UXLINK is currently leading the vote rankings. According to BlockBeats on the 6th (KST), UXLINK ranked first in the second listing vote on Binance with an 18.3% vote share. Following this, Story(IP) and BigTime(BIGTIME) took second and third places with 16% and 13.3% vote shares, respectively. The listing vote is an investor incentive program prepared by Binance. Although being ranked first in the listing vote does not guarantee a listing, it is considered meaningful as it can convey investors' thoughts to the exchange. Meanwhile, this second listing vote will be held until 8:59 AM on the 10th (KST).
As of 11 a.m. on the 6th (Korean time), Pi Coin is trading at $0.6468, up 31.02% from the previous day according to CoinMarketCap. Pi Coin was one of the cryptocurrencies that experienced the most severe decline during the recent downturn. Previously, on February 20, Pi Coin succeeded in listing on global exchanges such as OKX, reaching as high as $2.9, but then continued to decline, falling to $0.47 on the 5th. This represents a drop of about 80% in just one month. The rebound of Pi Coin on this day is attributed to the partnership with Banxa. The ability to purchase Pi Coin directly with fiat currency is analyzed to have triggered buying pressure.
The U.S. Securities and Exchange Commission (SEC) is set to review legal matters concerning crypto assets (cryptocurrencies). On the 5th (local time), according to the crypto-specialized media The Block, Acting SEC Chair Mark Uyeda ordered a review of issues related to the application of securities laws to crypto asset investments and digital assets through Executive Order 14192. This action follows recommendations from the Department of Government Efficiency (DOGE). Specifically, the items under review include ▲ the determination of the securities nature of crypto assets through the Howey Test, ▲ the 2021 investment caution guidelines for the Bitcoin (BTC) futures market, and ▲ the disclosure guidelines related to the bankrupt crypto asset firms in 2022. Acting Chair Uyeda explained, "The purpose of this review is to identify staff guidance that needs to be modified or withdrawn according to the agency's priorities."
With the announcement of U.S. President Donald Trump's tariff policy, concerns about a recession are emerging among investors. In the decentralized prediction market, the probability of a U.S. recession in 2025 has surged to 63%. According to the decentralized prediction platform Kalsi on the 5th (local time), the 'Recession this year?' probability has soared to 63%. This is an increase of about 20 percentage points compared to before President Trump's tariff announcement on the 2nd. The Trump administration announced a basic tariff rate of 10% on all countries and a high reciprocal tariff rate on some major trading partners on the 2nd. As a result, risk assets such as virtual assets (cryptocurrencies), stocks, and exchange-traded products (ETPs) have been unable to avoid a downward trend in recent days. On the 4th, the Nasdaq index, composed of U.S. tech stocks, fell by 5% during the day, breaking below the 16,000 mark, while the S&P 500 index and the Dow Jones index also fell by 5.97% and 5.50%, respectively. As a result, 5 trillion dollars evaporated from the stock market over two trading days due to President Trump's tariff announcement. In the virtual asset market, concerns about a recession have also emerged, with most virtual assets showing weakness. Bitcoin, the leading virtual asset, rose to $87,870 just before the tariff announcement but retreated to the $82,000-$83,000 range after the announcement. Other major virtual assets such as Ethereum (ETH) and Solana (SOL) also fell by 1.34% and 3.96% compared to the previous week.
According to Alternative, a cryptocurrency data provider, the Crypto Fear & Greed Index recorded 34 points, up 4 points from the previous day. As of 9:38 AM, Bitcoin is trading at $83,478 on CoinMarketCap, down 0.19% from the previous day. Most altcoins remained stable. At the same time, Ethereum fell by 0.30%, and XRP rose by 1.08%. Additionally, Binance Coin (-0.45%), Solana (-1.43%), Dogecoin (-0.57%), and Ada (-1.09%) also hovered around 1%. The Fear & Greed Index is an indicator of market sentiment, with values closer to 0 indicating extreme fear and values closer to 100 indicating extreme greed. This index is calculated based on volatility (25%), trading volume (25%), social media (15%), surveys (15%), Bitcoin dominance (10%), and Google Trends (10%).
Trump's 'Reciprocal Tariff' Policy Announcement Bitcoin Plummets to $82,000 US Imposes Reciprocal Tariffs on 60 Countries Including Korea Inflation Concerns Rise, Interest Rate Cut Possibility Drops Geopolitical Risks Intensify...China and Canada Warn of Retaliation Long-term Positive Outlook for Bitcoin The virtual asset (cryptocurrency) market is experiencing a sharp decline following President Donald Trump's tariff announcement. It is interpreted that the investment sentiment has been suppressed due to the announcement of a reciprocal tariff policy at a higher level than the market expected. As of 11:15 PM (KST) on the 3rd, according to the virtual asset data platform CoinMarketCap, the leading virtual asset Bitcoin (BTC) is trading at $82,024, down 4.01% from the previous day. Bitcoin had risen to $88,000 the previous day but plummeted to the $82,000 level immediately after President Trump's tariff announcement in the early morning. Altcoins experienced a larger decline. At the same time, Ethereum (ETH) is trading at $1,762, down 5.62% from the previous day. It fell below the psychological resistance level of $1,800 once again since the 31st. Other major altcoins such as XRP, Binance Coin (BNB), Solana (SOL), Dogecoin (DOGE), and Pi Network (PI) also recorded weak performances. Amid continued market weakness due to macroeconomic uncertainties and geopolitical risks since the beginning of the year, Trump's tariff bomb has exploded, leaving many coins that have plummeted more than 50% compared to last year. Projects like NEO and Mask Network (MASK), which experienced significant declines, have recognized the seriousness of the current situation and announced emergency measures. Stronger-than-Expected US Tariff Policy This virtual asset market crash was triggered by President Trump's tariff policy. Earlier, President Trump announced in a speech at the White House Rose Garden around 5 AM that "the US will impose a basic tariff of 10% on all imported goods and apply reciprocal tariffs to about 60 trading countries." Reciprocal tariff rates were set by country: △China 34%, △European Union (EU) 20%, △Vietnam 46%, △Taiwan 32%, △Japan 24%, △India 26%, △Thailand 36%, △Switzerland 31%, △Indonesia 32%, △Malaysia 24%, △Cambodia 49%, △United Kingdom 10%, △South Africa 30%. South Korea, which had previously signed a Free Trade Agreement (FTA) with the US, is also expected to be subject to a 26% reciprocal tariff. Yoo Sang-dae, Deputy Governor of the Bank of Korea, diagnosed that "the US's reciprocal tariff measures are stronger than expected in terms of high country-specific tariff rates and the wide range of target countries," and "there is a very high possibility that financial market volatility will increase depending on the future developments and responses of major countries." Why US Reciprocal Tariffs Are Fatal to Virtual Assets ① Inflation Concerns Rise...Possibility of Interest Rate Cuts Decreases First, the possibility of price increases within the US due to tariffs is expected to worsen the investment sentiment in virtual assets. If inflation rises in the market due to the application of reciprocal tariffs, the possibility of interest rate cuts decreases, and market liquidity and investment sentiment are likely to become rigid. Once tariffs begin, prices in the US are bound to face upward pressure. The US has so far imported phones, electronics, machinery, textiles, wood, etc., at low prices from Southeast Asian countries like Vietnam, where labor costs are relatively low, rather than from the US, where labor costs are high. However, if tariffs are imposed, the prices of these imports will rise. If inflation occurs in the US due to this, it is expected to disrupt the Federal Reserve's (Fed) plans for interest rate cuts. It will become increasingly difficult to implement interest rate cuts to achieve the annual inflation target. ② Concerns of Real Economy Recession...Negative for Virtual Assets The recession of the real economy in countries subject to tariffs is also likely to act as a negative factor for the virtual asset market. US reciprocal tariffs target countries that have a trade surplus with the US. Tariff rates were set according to the size of the trade surplus. The higher the US trade dependency and surplus ratio, the higher the tariff applied. Therefore, if the trade volume decreases due to reciprocal tariffs, the GDP of the affected countries may also decrease. For example, Vietnam recorded $123.463 billion (about 124.5606 trillion won) in trade with the US in 2024, which amounts to 26% of Vietnam's 2024 GDP ($476.3 billion). Kim Jin-il, a professor of economics at Korea University, explained, "(Such large-scale tariffs) are an unprecedented case. It is uncertain whether US inflation will rise first or the real economy of the tariff-targeted countries will be hit first." He added, "Central banks in each country should closely devise countermeasures for the subsequent situation." ③ Intensification of Geopolitical Risks...Retaliation May Backfire Finally, the retaliatory measures of countries harmed by the US's unilateral imposition of reciprocal tariffs are also a risk factor. As soon as President Trump announced the reciprocal tariffs, the European Union, Canada, and China immediately expressed their intention to retaliate. In particular, China's Ministry of Commerce stated in a statement, "It ignores the results of the balance of interests derived from years of multilateral trade negotiations and the fact that the US has long gained huge benefits in international trade," and "China firmly opposes the US's reciprocal tariff measures and will firmly take countermeasures to protect its interests." In addition, if Japan and China, which hold the first and second largest amounts of US Treasury bonds, sell US Treasury bonds as a retaliatory measure, it could also affect US interest rates. In fact, China has been continuously selling US Treasury bonds in response to US protectionism over the past few years. Professor Kim Jin-il said, "If countries like China choose to sell Treasury bonds as a countermeasure, US interest rates will naturally rise." Could Be Positive for Bitcoin On the other hand, some experts argue that President Trump's reciprocal tariff policy could act as a long-term positive for Bitcoin. Omid Malekan, an associate professor at Columbia University Business School, said, "Bitcoin is already called 'digital gold' and is considered a safe asset. As economic uncertainty increases, investors may choose Bitcoin to protect asset value." Another industry insider also stated, "Such unilateral behavior by the US weakens the dollar's currency dominance and the US economy," and "There is enough possibility that assets like Bitcoin or gold will be spotlighted as a result of this reciprocal tariff impact." Jinwook, Bloomingbit Reporter wook9629@bloomingbit.io
According to NBC on the 2nd (local time), U.S. President Donald Trump announced that "a comprehensive tariff of 10% will be imposed on all imports," and that "for countries considered to have poor trade performance, a higher rate will be applied." He stated, "I will soon sign an executive order on reciprocal tariffs," and added, "Jobs and factories will return to the United States due to the imposition of reciprocal tariffs."
An analysis has emerged suggesting that XRP could reach its all-time high this year. On the 2nd (local time), cryptocurrency analyst EGRAG predicted that "based on the analysis of the Relative Strength Index (RSI) on the XRP chart, XRP could renew its all-time high between May and June 2025." Furthermore, he added, "According to historical patterns, the price of XRP could rise to $27 in 60 days." As of 3 PM on the 2nd (KST), XRP is trading at $2.07, down 1.54% from the previous day according to CoinMarketCap.
Last year, driven by the rise of virtual assets (cryptocurrencies), the size of the domestic virtual asset market significantly increased. It even surpassed KOSPI. According to data submitted by financial authorities to the office of Democratic Party lawmaker Lee Jeong-moon on the 2nd, the average daily trading volume of the five major domestic virtual asset exchanges (Gopax, Bithumb, Upbit, Korbit, Coinone) was 11.6369 trillion KRW, surpassing the average daily trading volume of KOSPI, which was 10.7415 trillion KRW during the same period. The trading volume of virtual asset exchanges was 7.4409 trillion KRW in 2022, but decreased to 5.8229 trillion KRW during the market downturn in 2023, before surging again with the market rebound in 2024. Even until February this year, the trading volume of virtual asset exchanges recorded a scale comparable to the Korean stock market. The average daily trading volume of Upbit, the largest domestic virtual asset exchange, was 14.2752 trillion KRW in January and February. This is higher than the trading volume recorded by KOSPI during the same period, which was 9.6177 trillion KRW in January and 12.2194 trillion KRW in February.
According to the Token Mindshare (a metric quantifying the influence of specific tokens in the cryptocurrency market) top gainers on the AI-based Web3 search platform Kaito, the top 5 cryptocurrency-related keywords that people are most interested in as of the 2nd are Tether (USDT), ACT, USDC, DeXe (DEXE), and Binance Coin (BNB). Tether, a stablecoin, took the first place. It is analyzed that the demand for stablecoins surged as the cryptocurrency market rebounded. As of 2:12 PM, Bitcoin (BTC) is trading at $84,419, up 1.61% from the previous day. Additionally, Ethereum (+1.63%) and Dogecoin (+0.79%) are also showing strength. ACT took the second place. ACT attracted investors' attention as its value plummeted on this day. At the same time, ACT is trading at $0.07116, down 62.38% from the previous day according to CoinMarketCap. It's not just ACT. The previous day, an incident occurred on Binance where six altcoins, including ACT, DF, TUT, and TST, plummeted simultaneously. Binance explained, "Three VIP users conducted spot sell transactions worth $514,000 in a short time, and another user deposited a large amount of ACT from an external platform, selling spot worth $540,000 in a short time." The third place is taken by another stablecoin, USDC. The issuer of USDC, Circle, officially filed for an IPO, drawing market attention. DeXe, in fourth place, also experienced a similar plummet incident as ACT, causing concern among investors. However, DeXe has partially recovered its price. At the same time, DeXe is trading at $14.59, down 18.89% from the previous day. Binance Coin took the fifth place. It is analyzed that the frequent mentions of Binance, where the altcoin plummet incident occurred, contributed to its ranking. Additionally, investors are also showing interest in Test (TST), DeFos (DF), Sudeng (HIPPO), Lumia (LUMIA), and Kava (KAVA).
On the 2nd (Korean time), the virtual asset (cryptocurrency) exchange Crypto.com announced via X (formerly Twitter) that it has entered into a partnership with Sony Electronics, stating that it will support payments on the Sony online store for users in Singapore through Crypto.com Pay.
There are calls within the UK to increase interest in virtual assets (cryptocurrencies) and blockchain. According to Cointelegraph, a virtual asset specialist media outlet, on the 1st (local time), six organizations, including the UK Cryptoasset Business Council (UKCBC), sent a letter to Varun Chandra, Special Advisor for Business and Investment, stating that "focus is needed on investment, growth, and job creation in the digital asset sector." The letter particularly emphasized that global advanced countries, including the United States, are strengthening their investment in virtual assets. The coalition explained, "Countries like the United States, Singapore, the United Arab Emirates (UAE), and Hong Kong are actively investing in and supporting this sector," and "the UK must maintain its competitiveness accordingly." The requests included ▲ the appointment of a blockchain envoy, ▲ the establishment of a government action plan related to blockchain, ▲ recognition and enhancement of synergies between blockchain and artificial intelligence (AI), and ▲ forums between the industry and government.
Ethereum (ETH) spot Exchange Traded Fund (ETF) has turned to a net outflow. According to Farside Investor on the 1st (local time), the Ethereum spot ETF saw a total net outflow of $3.6 million on this day. While 21Shares CETH had a net inflow of $1.7 million, Grayscale ETH and Bitwise ETHW experienced net outflows of $2.7 million and $2.6 million, respectively.
Japan's Strategy (formerly MicroStrategy) Metaplanet has purchased additional Bitcoin (BTC). On the 2nd (local time), Metaplanet announced through its official X (Twitter) that it had purchased an additional 160 Bitcoins. As a result, Metaplanet's current Bitcoin holdings total 4,206. This amounts to approximately $356.9 million at the current market price.
X (formerly Twitter) has stepped in as an ally of the cryptocurrency exchange Coinbase in its legal battle with the Internal Revenue Service (IRS). X argues that the IRS's request for user information violates the Constitution. According to Bloomberg News on the 1st (local time), X requested the US Supreme Court to review the lower court's ruling between Coinbase and the IRS. Previously, the lower court ruled that the IRS collecting user information from Coinbase does not violate the Constitution. X stated, "If a company has contracted to keep user information private, forcing the company to disclose that information is unconstitutional." X also added, "(This case's ruling) is an opportunity to redefine the relationship between the government and companies like Coinbase and X," emphasizing that "the government can no longer infringe on users' Fourth Amendment rights."
Bitcoin (BTC) spot Exchange-Traded Funds (ETFs) have recorded net outflows for three consecutive trading days. On the 1st (local time), according to Trader T and Farside Investor, Bitcoin spot ETFs saw a net outflow of $157.8 million. ARK Investment ARKB and Fidelity FBTC recorded outflows of $87.4 million and $85.4 million, respectively, while Grayscale GBTC (-$10.1 million) and WisdomTree BTCW (-$6.8 million) also recorded net outflows. On the other hand, Bitwise BITB and Franklin Templeton EZBC saw net inflows of $24.5 million and $7.4 million, respectively.
The day known as 'Liberation Day', which is both a source of concern and anticipation for investors, is just a day away as President Donald Trump is set to announce his tariff policy. Some analysts suggest that contrary to existing concerns, the tariff policy could be positive for Bitcoin (BTC) and other virtual assets (cryptocurrencies). On the 1st (local time), the cryptocurrency-focused media outlet CoinDesk reported, citing multiple experts, that the Trump administration's tariff policy announcement could positively impact the virtual asset market. The announcement is scheduled for 4 PM on the 2nd (local time, 5 AM on the 3rd in Korea). First, there is a claim that Bitcoin could be treated as a safe asset like gold. Omid Malekan, an associate professor at Columbia Business School, stated, "Both virtual assets and tariffs are areas the market has never experienced before," adding, "Bitcoin is already treated like digital gold in some circles, so if economic uncertainty grows, investors might prefer Bitcoin." There is also an opinion that the current price reflects concerns about the tariff policy. Jack Pandle, head of Grayscale Research, said, "The impact of tariffs on the market may already be priced in," and "If the tariff policy announcement focuses on specific areas contrary to what is known, investor sentiment could recover significantly." He continued, "Ultimately, tariffs weaken the dominant role of the dollar and increase the value of other currencies, including Bitcoin," adding, "In the short term, virtual asset prices are declining, but looking at the Trump administration's stance, there is more certainty about Bitcoin." On the other hand, there is a possibility that investors' risk appetite could decrease, negatively impacting Bitcoin. Marc Oswald, chief analyst at ADM Investor Services International, said, "The market's risk appetite continues to deteriorate," noting, "The gap between virtual assets and gold is widening." Meanwhile, despite concerns about the tariff policy, buying pressure continues to flow into the market. As of 11 AM on the 2nd (Korea time), Bitcoin is trading at $85,153, up 3% from the previous day. Additionally, leading altcoins Ethereum (ETH) and XRP have risen by 3.64% and 1.26%, respectively.
SocialFi Mask Network (MASK) is experiencing a sharp decline intraday. As of 9:54 AM (KST) on the 2nd, Mask Network is trading at $1.42, down 30.37% from the previous day according to CoinMarketCap. As the price plummeted, investors seem to have engaged in mass selling. At the same time, the daily trading volume of Mask Network recorded $467.06 million, a surge of 467.15% from the previous day.
According to the virtual asset (cryptocurrency) data provider Alternative on the 2nd, the virtual asset Fear & Greed Index recorded 44 points, up 10 points from the previous day. This is due to the strength shown by major virtual assets, including Bitcoin (BTC). As of 9:03 AM on this day, Bitcoin is trading at $85,174 on CoinMarketCap, up 3.17% from the previous day. Most altcoins also showed strength. At the same time, Ethereum and XRP rose by 4.50% and 2.08%, respectively. Additionally, Binance Coin (+1.07%), Solana (+1.57%), Dogecoin (+4.11%), and Ada (+2.09%) also recorded upward trends. The Fear & Greed Index is an indicator that expresses market sentiment, with a score closer to 0 indicating extreme fear and a score closer to 100 indicating extreme greed. This index is calculated based on volatility (25%), trading volume (25%), social media (15%), surveys (15%), Bitcoin market cap dominance (10%), and Google Trends (10%).
<Today's Major Economic Schedule> ▶︎April 2 (Wed): △ Trump Administration's Reciprocal Tariff Announcement △ US March ADP National Employment Report (KST 21:15, Local Time 08:15) △ Speech by Federal Reserve Board Member Adriana Kugler (KST April 3 05:30, Local Time 16:30) <Today's Major Cryptocurrency Schedule> ▶︎April 2 (Wed): △ Etena (ENA) 40.63 million tokens unlock
According to BWE News on the 1st (local time), VanEck has completed the registration of a Binance Coin (BNB) spot Exchange Traded Fund (ETF) entity in the state of Delaware, USA.
Meme coin leader Dogecoin (DOGE) is surging during the day. As of 7:18 AM on the 2nd (KST), Dogecoin is trading at $0.1736, up 5.39% from the previous day according to CoinMarketCap. At the same time, Dogecoin derivatives trading volume also surged 84.21% from the previous day. The current open interest is up 8.09% from the previous day, recording $804,220. The background to Dogecoin's upward trend is interpreted as demand aiming for bottom fishing. Notable indicators are the Relative Strength Index (RSI) and the long-short ratio in the futures market (the ratio of bullish bets to bearish bets). First, looking at Dogecoin's RSI indicator, it shows that a crossover between buying and selling has recently occurred. Cryptocurrency specialist media AMBCrypto explained, "Currently, buying demand has surpassed selling demand." In the Dogecoin futures market over the past 24 hours, long positions accounted for 71.47% and short positions accounted for 28.53%. The resulting long-short ratio was 2.50. This means that bullish bets in the futures market were about 2.50 times more than bearish bets.
According to the cryptocurrency specialist media The Block on the 1st, the Uniswap (UNI) Decentralized Autonomous Organization (DAO) has preliminarily decided to continue the program that delegates 18 million Uniswap tokens (approximately $113 million) to governance participating voters. This program started in December 2023. Meanwhile, if this proposal is officially passed, 12 actively participating voters will receive 1 million Uniswap tokens as an incentive. The top voters will be provided with an additional incentive of 1 million tokens.
Stablecoin issuer Circle has formalized its initial public offering (IPO) today. On the 1st (local time), Bloomberg reported that Circle submitted the necessary registration statement (S-1) for the IPO to the Securities and Exchange Commission (SEC). The IPO underwriters have been selected as JP Morgan and Citigroup. Bloomberg particularly noted the trend of Circle's revenue growth. According to the submitted documents, Circle recorded $1.68 billion in revenue in 2024, an increase of $230 million compared to the previous year. However, last year's operating profit was $156 million, showing a decrease of about $112 million compared to the previous year.
In the midst of ongoing issues related to abnormal selling of virtual assets (cryptocurrencies) on exchanges, similar circumstances have been detected with Guns (GUN), which announced a new listing on Binance. On the 1st (local time), on-chain analyst ai_9684xtpa reported on X (Twitter) that "a phenomenon occurred where Guns tokens were being sold more than 10 times per second on Binance." He continued, "Binance has not yet distributed the volume to the market maker for this incident, but 191 million tokens were transferred from the GUN market maker address to the outside," adding, "Afterwards, abnormal selling activities were detected on Binance." However, the analyst considered it difficult to conclude that the incident was the work of the market maker. He said, "It is also thought that a whale participating in the launch pool sold using a bot," and explained, "If the whale received an airdrop up to the limit in the three-day launch pool, his volume would be 32 million, similar to the abnormally sold scale." Meanwhile, as of 1:51 PM on this day, GUN is trading at $0.08026 on CoinMarketCap, down 17.13% from the previous day.
Global virtual asset (cryptocurrency) exchange OKX has completed an important personnel move to comply with U.S. law. On the 1st (Korean time), OKX announced via its official X (formerly Twitter) that Linda Lacewell, former head of the New York State Department of Financial Services (NYDFS), will take on the role of Chief Legal Officer (CLO) at OKX. Linda Lacewell joined the OKX board in 2024 and has been reported to provide strategic advice to the board and legal team.
Ethereum (ETH) spot Exchange Traded Fund (ETF) has achieved a net inflow for two consecutive trading days. On the 31st (local time), according to Farside Investor, the Ethereum spot ETF recorded a net inflow of $6.4 million. Fidelity FETH saw a net inflow of $6.4 million, while no net inflow or outflow was recorded for other products.