Kategorie: Crypto Markets

• Mantra CEO to burn 150M OM tokens to rebuild trust after the 90% Mantra price crash.
• 81% of the community has backed the burn proposal.
• While some are optimistic about the impact of the token burn, the OM price continues to struggle at $0.50.

After the dramatic 90% Mantra price crash on April 13, 2025, as a result of reckless liquidations, Mantra’s founder and CEO, John Patrick Mullin, has announced a bold plan to burn his personal allocation of 150 million OM tokens.

This move aims to rebuild trust in the Layer 1 blockchain focused on real-world asset tokenization.

While the April 13 crash wiped out over $5 billion in market capitalization in mere hours, Mullin’s commitment to burn tokens valued at approximately $82 million at current prices has stunned the crypto community.

Community overwhelmingly supports Mullin’s proposal

An X poll conducted by John Patrick Mullin has garnered over 8,900 votes, with over 81% of respondents backing the immediate burning of his tokens.

This strong endorsement reflects the community’s desire for decisive action to try and help the OM token recover.

According to the burn proposal, the tokens, currently being unstaked, will be sent to the network’s burn address by April 29, 2025.

The process ensures transparency and adherence to protocol rules.

Mantra is also exploring a larger burn with ecosystem partners, with discussions underway to incinerate an additional 150 million OM tokens.

This would total to 300 million tokens being burned, or 16.5% of the 1.817 billion total supply.

Such a reduction could significantly alter the token’s supply dynamics.

If successful, the total OM token supply would drop to approximately 1.517 billion OM tokens.

Potential impact of the proposed Mantra token burn

The burn is expected to impact Mantra’s tokenomics positively.

It will reduce the bonded ratio from 31.47% to 25.30%. Staked tokens will decrease from 571.8 million to 421.8 million.

This adjustment will boost the staking APR for remaining tokens.

Higher staking rewards could incentivize holders to lock up their OM. Reduced selling pressure might support price stability.

However, despite the announcement, OM’s price has remained stagnant, currently trading at approximately $0.5396, up by only 0.1% in the past 24 hours.

Following the burn announcement, the token saw a slight uptick to an intraday high of $0.5585 before quickly falling back to the $0.50 range.

Presumably, the ongoing unstaking process may be delaying significant price movement, while market skepticism persists after the crash’s shock.

Approximately 4 million OM tokens unlock every few weeks, and with 45% of the supply still locked, selling pressure could counteract the burn’s benefits.

The April 13 crash raised suspicions of foul play, with community members accusing the Mantra team of orchestrating a sell-off, claims that Mullin and investor Laser Digital firmly denied.

Can Mantra’s price recover in case of a burn?

Currently, OM’s price struggles to break above $0.55, especially with the ongoing unlocks and potential liquidations looming large.

Going by this, the market sentiment remains cautious, and the burn’s psychological impact may not fully materialize until it’s complete.

However, in the long term, the burn could lay a foundation for growth.

A 16.5% supply reduction is substantial, and coupled with staking incentives, it could tighten the circulating supply, leading to a normal supply-demand curve that could result in a hike in price.

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• The ETF inflow coincided with a sharp move in Bitcoin prices, which reclaimed the $91,000 level.
• Total inflows across Bitcoin ETFs reached $381.3 million on April 21.
• RK 21Shares Bitcoin ETF (ARKB) captured the largest share at $116.1 million.

Bitcoin exchange-traded funds (ETFs) in the United States posted their largest single-day net inflow in almost two months, with April 21 marking the strongest session since January 30.

The ETF inflow coincided with a sharp move in Bitcoin prices, which reclaimed the $91,000 level for a brief window before retracing to around $90,000.

BTC ETF inflows on Monday

Total inflows across Bitcoin ETFs reached $381.3 million on April 21, with ARK 21Shares Bitcoin ETF (ARKB) capturing the largest share at $116.1 million.

Fidelity Wise Origin Bitcoin Fund (FBTC) followed with inflows of $87.6 million.

Grayscale, which had previously struggled with outflows after converting its Bitcoin trust to an ETF, showed signs of stabilization as its Bitcoin Trust (GBTC) and Bitcoin Mini Trust ETF (BTC) recorded combined inflows of $69.1 million.

BlackRock’s iShares Bitcoin Trust ETF (IBIT), the largest Bitcoin ETF by assets under management, drew $41.6 million, down from pre-weekend levels on April 17.

Other funds, including HODL and EZBC, contributed $11.7 million and $10.1 million, respectively.

The inflows return after a strong week for outflows

According to CoinShares’ latest report, the United States recorded total outflows of $71 million for the week, indicating that April 21’s activity was an outlier amid otherwise tepid sentiment.

In contrast, European markets maintained a more constructive stance toward digital assets.

Switzerland led the region with $43.7 million in net inflows, while Germany added $22.3 million. Canada also saw modest inflows of $9.4 million during the period.

CoinShares noted that overall digital asset investment products saw modest weekly inflows of $6 million.

Midweek, stronger-than-expected US retail sales figures triggered a sharp outflow of $146 million from digital asset funds, reflecting market sensitivity to macroeconomic data.

Bitcoin-specific products closed the week with net outflows of $6 million, despite the significant daily inflow figure on April 21.

Meanwhile, short Bitcoin products recorded their seventh consecutive week of outflows, with $1.2 million withdrawn, bringing total redemptions over the period to nearly 40% of assets under management.

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• Paul Atkins confirmed as SEC chair with 52-44 Senate vote.
• Crypto firms donated over $85 million to Trump inauguration.
• SEC’s new direction may favour altcoins and DeFi platforms.

The US Securities and Exchange Commission (SEC) has entered a new phase of crypto oversight with the appointment of Paul Atkins as its 34th chairman.

Nominated by President Donald Trump and confirmed by the Senate in a 52-44 vote earlier this month, Atkins is returning to the SEC with a clear message—making the US the most secure and attractive investment destination globally.

In his first public statement, he signalled that crypto regulation would be a central focus of his administration, marking a departure from former Chair Gary Gensler’s hawkish stance on altcoins.

Surge in crypto ETF filings under Atkins’ watch

Atkins’ arrival comes at a pivotal time for the crypto market. Since Gary Gensler’s resignation, the SEC has been flooded with a wave of crypto-related exchange-traded fund (ETF) filings.

According to data compiled by BeInCrypto, there are currently 72 pending applications awaiting review, spanning spot Bitcoin and Ethereum ETFs, altcoin funds, and meme coin-backed offerings.

ETF analyst Nate Geraci pointed out that several key issues now fall under Atkins’ jurisdiction. These include decisions around staking for Ethereum ETFs, in-kind creation and redemption mechanisms for spot funds, and rulemaking related to derivatives.

The sudden rise in applications is being interpreted as a strategic move by asset managers to capitalise on the shift in leadership.

Altcoins and meme coins may gain SEC favour

The contrast between Atkins and Gensler is already being felt. Gensler had argued that most cryptocurrencies lacked intrinsic value and were fuelled by hype, which he said made them unstable investment vehicles.

His tenure was marked by consistent pushback against altcoin and meme coin products, delaying or denying multiple ETF approvals.

Under Atkins, however, industry analysts believe there could be a regulatory thaw, especially for tokens beyond Bitcoin and Ethereum.

His market-friendly stance is raising expectations that several high-profile altcoin ETFs may be approved in the coming months. One analyst claimed the SEC had become a “pro-crypto administration”, reflecting the optimism within the industry.

Key lawsuits dropped under Trump-era SEC

Beyond ETFs, Atkins inherits an SEC that has recently seen several major crypto enforcement cases dropped or concluded.

Companies including Coinbase, Ripple, Kraken, Uniswap, and Yuga Labs reportedly had investigations or lawsuits closed in the months leading up to Atkins’ confirmation.

Public filings show these firms, among others, collectively donated over $85 million to Trump’s inauguration committee, prompting scrutiny over the SEC’s independence.

The Biden-era SEC, under Gensler, had aggressively pursued these firms, alleging securities violations across various token offerings and staking services.

But the Trump-led pivot, now cemented by Atkins’ leadership, is being interpreted by legal experts as a broader retreat from that enforcement strategy.

What Atkins’ SEC means for crypto regulation

Paul Atkins previously served as SEC commissioner from 2002 to 2008. Known for advocating market deregulation and supporting innovation, his return signals a broader political shift in US financial regulation.

As the SEC oversees a $2.8 trillion crypto market, Atkins’ decisions over the coming months are likely to set the tone for how the agency treats decentralised finance, altcoins, and tokenised assets.

The crypto industry is now watching closely to see whether this new direction will lead to lasting regulatory reform or if challenges will resurface depending on the outcomes of ongoing political shifts in Washington.

Either way, the SEC’s near-term trajectory is now tied to Atkins’ interpretation of investor protection and market integrity in the rapidly evolving digital asset space.

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• Dogecoin (DOGE) price is up 3% in 24 hours.
• Bitcoin has broken above $88k and could target 100k.
• Analysts see a bullish flip for crypto despite macroeconomic conditions.

Dogecoin price outlook is bullish as Bitcoin targets $100k, with key indicators and expert insights supporting this

While the cryptocurrency market remains largely negative, there’s a new buzz amid upward movement for Bitcoin (BTC).

Meanwhile, the lack of momentum for altcoins means most tokens still nurse huge losses since flipping negative amid a cool down in Trump-driven euphoria.

But despite the tariffs turbulence and broader risk asset market jitters, is Dogecoin price poised for a major spike?

Analysts say major altcoins, including Ethereum (ETH) and Solana (SOL), could post notable gains amid Bitcoin’s surge.

Dogecoin price gains in the past 24 hours

Dogecoin has surged 5.8% in the past 24 hours, trading at $0.82 as of 11:13 AM EAT.

The meme coin’s rally comes amid heightened volatility in the broader crypto market, with DOGE capitalizing on renewed retail interest and Bitcoin’s upward momentum. Trading volume has spiked 12% to $2.4 billion, reflecting strong buying pressure. DOGE has broken above a key recent price level. It’s likely a bullish signal that suggests potential for further upside if Bitcoin continues to surge.

However, there’s prevailing resistance levels that remain key hurdles for bulls in the near term.

Bitcoin eyes on $100k

Bitcoin is trading at $88,465, up 1.7% today. This 24-hour surge comes amid a 3.5% spike as the benchmark digital asset looks to break out.

The flagship cryptocurrency has been buoyed by expectations of increased liquidity from potential U.S. Treasury buybacks and a dovish Federal Reserve policy shift.

Analysts are closely monitoring BTC’s ability to break above $90k, which could pave the way for a test of the six-figure mark.

If there’s sustained move above $100,000 could trigger a broader altcoin rally, with meme coins like Dogecoin likely to benefit from speculative flows. Conversely, a rejection at this level might see BTC retest support near $80k.

What are analysts saying about BTC?

Arthur Hayes, co-founder of BitMEX, has been vocal about Bitcoin’s bullish outlook, predicting a potential surge to $250,000 by year-end if the Federal Reserve resumes quantitative easing (QE).

Hayes says US Treasury buybacks could inject significant liquidity into risk assets, with Bitcoin poised to benefit.

He stated, “This might be the last chance to buy Bitcoin below $100,000,” citing global liquidity trends as a key driver. QCP Capital, a leading crypto trading firm, shares a cautiously optimistic view.

The QCP analysis noted that Bitcoin’s momentum is supported by strong institutional demand and a favorable macroeconomic environment.

However, they warned that a failure to break $100,000 could lead to profit-taking, with $90,000 as a critical support level.

QCP’s analysis highlights the importance of sustained volume and bullish sentiment to maintain BTC’s upward trajectory.

Dogecoin price prediction

Dogecoin’s technical indicators suggest a mixed but cautiously bullish outlook.

The Relative Strength Index (RSI) and the Moving Average Convergence Divergence (MACD) both suggest a potential bullish flip.

The latter has the MACD line moving above the signal line, reinforcing the potential for positive momentum.

Furthermore, the histogram is expanding, hinting at a possible surge amid Bitcoin breaking higher.

Analysts predict Dogecoin could target $0.3, the upper Bollinger Band, if meme coin flows resume.

Historically, DOGE has closely followed BTC’s price movements, and a BTC bull run could drive speculative interest in Dogecoin.

On the downside, failure to hold the $0.15 support level might see DOGE retreat to $0.10.

Macroeconomic factors, including U.S. policy shifts and global liquidity, will play a crucial role in shaping DOGE’s trajectory.

 

 

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• EOS Network will rebrand to Vaulta, a name change designed to highlight its pivot toward web3 banking.
• Vaulta comes with a token swap expected at the end of May.
• The EOS token saw a slight price gain following the announcement.

EOS Network,a blockchain network known for its scalable operating system, has announced its rebranding.

On March 18, the EOS Network revealed in a press release that it is renaming to Vaulta, a move that aligns with the platform’s shift to web3 banking.

EOS plans to complete the official transition to Vaulta at the end of May, with this also involving a token swap.

EOS to rebrand amid straegic shift

EOS Network’s rebranding to Vaulta is a culmination of an effort that has taken several years of planning and development, the project said in the press release.

A New Era of Finance Begins.

After years of building the foundations behind the scenes, we’re excited to introduce Vaulta next frontier of finance Web3 Banking 🏦

With cryptocurrency’s rising popularity, clearer regulations, & growing demand for innovative financial products,… pic.twitter.com/6TLlHR7MCa

— EOS Network (@EOSNetworkFDN) March 18, 2025

The objective, per the announcement, is to deliver an inclusive financial ecosystem, with web3 technology at the heart of this system.

“This transformation represents more than just a name change; it’s a decisive step forward in our mission to deliver open, accessible financial access for everyone,” said Yves La Rose, founder and chief executive officer of Vaulta Foundation.

“Vaulta is the product of years of planning, strategic development, and thoughtful design, culminating in a holistic Web3 banking approach. Web3 has the potential to reshape global finance and Vaulta is at the forefront of this evolution,” he added.

Vaulta will have a banking advisory council

As part of the rebrand, EOS will launch a Vaulta Banking Advisory Council. This group of  banking and web3 experts will offer expertise on various aspects of Vaulta, including the bridging of traditional finance and decentralized finance.

The group will also help the project achieve and adhere to global compliance standards as well as find key real-world opportunities for project pilots.

Initial members of the banking advisory council reportedly include Lawrence Truong, chief executive officer of Systemic Trust, Didier Lavalle, CEO of Tetra, Alexander Nelson, senior director of digital finance at ATB Financial, and Jonathan Rizzo, senior business solution specialist at ATB Financial.

“Vaulta’s strategic realignment towards web3 banking is a significant development for the banking industry. Their robust infrastructure has the potential to connect traditional banking with the benefits of blockchain technology,” Nelson noted.”This move not only opens the door for traditional funds to enter DeFi through Bitcoin but also paves the way for greater institutional acceptance.”

The news saw a slight flip upward in the price of EOS token, which rose from $0.48 to highs of $0.51.

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