cryptocurrency market changes in April

[shanhaigamefi]

In April, the cryptocurrency market overall exhibited a downward trend, with the total market capitalization declining by 11% by the end of the month. This decline was primarily influenced by changes in expectations of interest rate cuts, geopolitical risks, and a slowdown in the flow of Bitcoin spot ETFs. However, regulatory approval of several spot Bitcoin and Ethereum ETFs in Hong Kong injected some hope into the market, with six cryptocurrency-based spot ETFs commencing trading in Hong Kong.

The DeFi market experienced a relatively calm period in April, with a slight monthly decrease of 0.7%. However, the total locked value (TVL) of liquidity staking token protocols steadily increased, surpassing $10 billion in April. Besides the liquidity advantages of liquidity restaking tokens (LRTs), “point farming” emerged as a major driver of growth, attracting users to participate in protocols to earn points for future airdrops.

The total supply of US dollar-pegged stablecoins has shown a significant upward trend this year, reaching $160 billion in April, the highest level in nearly two years. Stablecoins have become a crucial indicator of demand in the cryptocurrency market, especially amidst heightened market volatility. First Digital’s FDUSD and Ethena’s USDe notably performed well in this trend, with increases of 80.0% and 52.3%, respectively.

The TON network continued to attract attention in April, with the TVL in DeFi reaching a historic high of $170 million and monthly active addresses reaching 1.7 million. The growth of Toncoin’s on-chain metrics was primarily driven by the launch of “The Open League” initiative. Additionally, partnerships with HashKey Group were announced to provide on- and off-ramp services for Telegram wallet users in the Asia-Pacific region.

Despite experiencing some volatility in April, the cryptocurrency market maintains its resilience, with stablecoins playing a crucial role. However, as market participants continue to enter the space, risks such as smart contract and protocol-specific risks increase. The future trajectory of the cryptocurrency market will depend on global economic conditions, regulatory policies, and ongoing technological innovations.

[Casdinyard]

In April, the cryptocurrency market overall exhibited a downward trend, with the total market capitalization declining by 11% by the end of the month. This decline was primarily influenced by changes in expectations of interest rate cuts, geopolitical risks, and a slowdown in the flow of Bitcoin spot ETFs. However, regulatory approval of several spot Bitcoin and Ethereum ETFs in Hong Kong injected some hope into the market, with six cryptocurrency-based spot ETFs commencing trading in Hong Kong.

The DeFi market experienced a relatively calm period in April, with a slight monthly decrease of 0.7%. However, the total locked value (TVL) of liquidity staking token protocols steadily increased, surpassing $10 billion in April. Besides the liquidity advantages of liquidity restaking tokens (LRTs), “point farming” emerged as a major driver of growth, attracting users to participate in protocols to earn points for future airdrops.

The total supply of US dollar-pegged stablecoins has shown a significant upward trend this year, reaching $160 billion in April, the highest level in nearly two years. Stablecoins have become a crucial indicator of demand in the cryptocurrency market, especially amidst heightened market volatility. First Digital’s FDUSD and Ethena’s USDe notably performed well in this trend, with increases of 80.0% and 52.3%, respectively.

The TON network continued to attract attention in April, with the TVL in DeFi reaching a historic high of $170 million and monthly active addresses reaching 1.7 million. The growth of Toncoin’s on-chain metrics was primarily driven by the launch of “The Open League” initiative. Additionally, partnerships with HashKey Group were announced to provide on- and off-ramp services for Telegram wallet users in the Asia-Pacific region.

Despite experiencing some volatility in April, the cryptocurrency market maintains its resilience, with stablecoins playing a crucial role. However, as market participants continue to enter the space, risks such as smart contract and protocol-specific risks increase. The future trajectory of the cryptocurrency market will depend on global economic conditions, regulatory policies, and ongoing technological innovations.

You know, the one thing that really sells the DeFi narrative to me is the fact that out of all the narratives that propelled previous bull runs, it was the only one that remained and stood strong.

1. ICOs and Coin Offerings died down because clowns are using it to propel personal agenda and are stealing off of the people who are none-the-wiser with their schemes, this is despite ICO being a very good idea for crypto projects, allowing people who are really interested in the project to get the first whiff ahead of everybody else.

2. NFTs, they are really cool for a while but when people realize they are like the Tulip mania, the hype around them died down. Since then it became a staple but projects generally veer away from them as they are seen by many a veteran in this industry as nothing but an attempt at cash-grabbing

Decentralized Finance on the other hand, still remained up and running, projects who do not include them are shit and memecoins, and those who include them in their roadmap are destined to succeed. Goes to show that when you pay the people, they love and would love to keep that feature up! Who would've thought?

This is pretty off-topic I know, but I'm just out here voicing my appreciation for DeFi, despite it being very lowkey these days.

[Dunamisx]

In April, the cryptocurrency market overall exhibited a downward trend, with the total market capitalization declining by 11% by the end of the month. This decline was primarily influenced by changes in expectations of interest rate cuts, geopolitical risks, and a slowdown in the flow of Bitcoin spot ETFs. However, regulatory approval of several spot Bitcoin and Ethereum ETFs in Hong Kong injected some hope into the market, with six cryptocurrency-based spot ETFs commencing trading in Hong Kong.

Running an economy cannot be on a fixed pattern, there are times we also experience ups and downs in the way of the running =s of this same economy, this is a global concern, we may not have to worry much about it, there are many factors that have contributed to these, many were also affected at the cause as well, we need to realized this before now, but later, we can still discover that many things are going back to normal as expected.

[electronicash]

Halving this April didn't change the market i guess since you skipped it. but right after it happened the price went down which was also expected just like the ETF approval in Hong Kong. It's a classic buy the rumor and sell the news in action.

Ton's upward trend started in March and in April, it's mostly downwards. holders taking profit already for maybe they want to hold BTC this time. 

[yhiaali3]

April was an overall bearish month with a few upside moments, but the most notable event was halving which is expected to have a major bullish impact on the market in the coming months.

Many factors played an important role in making the market bearish, but in general we are still in an upward trend despite this decline, which I consider temporary due to many of the factors you mentioned. It is expected that during the coming period things will begin to change with the emergence of positive news about the Bitcoin ETF and Ethereum, as well as the start of the halving effect.

[peter0425]

Following the month of april bearish trend, it continues up until now the second week of may.

Bitcoin has gone down to at least 57k if I remember correctly and it is in 60k now as I am writing this. Many got panicky as usual but I stayed focus and remembered that this was all expected especially right after halving. Those who did not know any better kept selling. While others took the opportunity and bought more coins.

[legendbtc]

Halving this April didn't change the market i guess since you skipped it. but right after it happened the price went down which was also expected just like the ETF approval in Hong Kong. It's a classic buy the rumor and sell the news in action.

If I remember correctly, bitcoin corrected before the halving and the correction is still ongoing until now. I think a correction is inevitable because previously, thanks to the impact of ETFs, bitcoin reached a new ATH. I don't see any "buy the rumor, sell the news" connection going on here.

Ton's upward trend started in March and in April, it's mostly downwards. holders taking profit already for maybe they want to hold BTC this time. 

Have you checked today's Ton price? it recovered strongly and even touched $7 yesterday, although bitcoin had a correction yesterday, Ton price did not seem to be affected too much. It seems like no investors want to sell Ton and convert to bitcoin like you said.

I'm also investing in Ton when it's under $3 and I'm watching it quite closely. As far as I know, Ton's price drop was a healthy correction and after the correction ended, the price went up again but there was no widespread dumping to move bitcoin.

[pooya87]

Have you checked today's Ton price? it recovered strongly and even touched $7 yesterday, although bitcoin had a correction yesterday, Ton price did not seem to be affected too much. It seems like no investors want to sell Ton and convert to bitcoin like you said.

I'm also investing in Ton when it's under $3 and I'm watching it quite closely. As far as I know, Ton's price drop was a healthy correction and after the correction ended, the price went up again but there was no widespread dumping to move bitcoin.

The only time shitcoins are affected by bitcoin market movements is mostly when they are between pumps. Ton is currently in a pumping week which means it won't matter what bitcoin does, it will go up until it reaches its maximum pumpability which is when the dumping begins.

So far Ton's ceiling has been 16000 sats which was its initial release price back in April '22 and could only be revisited in December '22 and only momentarily. The only major pump after that could bring the price to almost 10k sats until today that this pump broke that record and reached 12k sats but hasn't been capable of reaching the ATH of 16k.

This means, I'd keep an eye on the current price. There is a good chance this pump is going to run out of steam soon. Which means we are close to a good exit price.

If the pump proves to be persistent (ie if the pumpers have more money to inject into this shitcoin), we can re-enter to enjoy further profit otherwise if the pump fails and the dumps begin, this time the low could be 1000 satoshi and below prices (ie 90%-95% loss)...

[legendbtc]

Have you checked today's Ton price? it recovered strongly and even touched $7 yesterday, although bitcoin had a correction yesterday, Ton price did not seem to be affected too much. It seems like no investors want to sell Ton and convert to bitcoin like you said.

I'm also investing in Ton when it's under $3 and I'm watching it quite closely. As far as I know, Ton's price drop was a healthy correction and after the correction ended, the price went up again but there was no widespread dumping to move bitcoin.

...

If the pump proves to be persistent (ie if the pumpers have more money to inject into this shitcoin), we can re-enter to enjoy further profit otherwise if the pump fails and the dumps begin, this time the low could be 1000 satoshi and below prices (ie 90%-95% loss)...

Are you praying Ton price will be below 1000 sat? Currently, the entire market is entering a sideways phase after the halving and we still do not know what will happen next. There have been some predictions that bitcoin will fall to $52k and I am sure that even if bitcoin falls to $52k, Ton will never fall to the level that you expect. On the contrary, as long as bitcoin continues to move sideways or better yet increase in price, you will soon see Ton reach $10. Ton and Solana will be the next two bright stars of the market after ETH and BNB have completed that mission in previous bull.

I know you're a bitcoin maximalist and you expect all the shitcoins to disappear soon, but I don't think that will happen ETH, Ton, BNB...Many other altcoins will exist and grow for years to come and their returns will surpass those of bitcoin but of course there will be risks when investing in them.

[pooya87]

Are you praying Ton price will be below 1000 sat?

I haven't traded altcoins for a long time now, even though I want to get back into it if I get the time
What I posted is just my analysis of the situation with two possible directions to go...

I know you're a bitcoin maximalist and you expect all the shitcoins to disappear soon, but I don't think that will happen ETH, Ton, BNB...Many other altcoins will exist and grow for years to come and their returns will surpass those of bitcoin but of course there will be risks when investing in them.

I never expected shitcoins to disappear. They are part and parcel of the cryptocurrency world. They just have no future to grow. ETH for example has had its moment in the sun when it reached 0.15BTC roughly 6 years ago in 2017 pump season and hasn't been capable of reaching that level ever since, despite all the pump attempts so far. How much is ETH worth today? 0.04-0.05? That's a long fall from 0.15BTC...

[MusaMohamed]

I never expected shitcoins to disappear. They are part and parcel of the cryptocurrency world. They just have no future to grow. ETH for example has had its moment in the sun when it reached 0.15BTC roughly 6 years ago in 2017 pump season and hasn't been capable of reaching that level ever since, despite all the pump attempts so far. How much is ETH worth today? 0.04-0.05? That's a long fall from 0.15BTC...

There were sunshine times for some old altcoins, not only ETH. DASH, Bitcoin Cash used to have sunshine times in 2017 and 2018 but now they are no longer be able to get their prices in BTC pair value like years ago, and even worse than ETH.

These altcoins used to have their prices in BTC pairs to about 0.1+ BTC for each DASH, BCH. Now, that times gone and will never come back.
https://coinmarketcap.com/currencies/dash/dash/btc/
https://coinmarketcap.com/currencies/bitcoin-cash/bch/btc/

[kryptqnick]

The crypto market is volatile, and everyone is aware of that. So a 10% change over a month is nothing major or worth of a serious analysis or discussion. Bitcoin is still very close to the ATH point and well above its usual price range, so I think these are just minor corrections that don't set the trend. It's impossible to say whether the price will go up or down from here because not enough time has passed. If we zoom out the chart to see Bitcoin over the last year, we're still at the top, which kind of looks like a bull market situation to me.

[Dunamisx]

In April, the cryptocurrency market overall exhibited a downward trend, with the total market capitalization declining by 11% by the end of the month. This decline was primarily influenced by changes in expectations of interest rate cuts, geopolitical risks, and a slowdown in the flow of Bitcoin spot ETFs.

When things like this happened, do you know how much worth of crypto assets were being liquidated each time we are having a downtrend in the crypto market, most especially when the market go dips suddenly as a result of any economical breaking news which indirectly affects the demands or supply of bitcoin and other cryptocurrencies, still yet, we have many investors earning their profits from the opposite of these when the market is pumping and they are being productive on their investment, because the buy and sell constitute how the crypto volatility works and it price determination.

[legendbtc]

Are you praying Ton price will be below 1000 sat?

I haven't traded altcoins for a long time now, even though I want to get back into it if I get the time
What I posted is just my analysis of the situation with two possible directions to go...

I know you're a bitcoin maximalist and you expect all the shitcoins to disappear soon, but I don't think that will happen ETH, Ton, BNB...Many other altcoins will exist and grow for years to come and their returns will surpass those of bitcoin but of course there will be risks when investing in them.

I never expected shitcoins to disappear. They are part and parcel of the cryptocurrency world. They just have no future to grow. ETH for example has had its moment in the sun when it reached 0.15BTC roughly 6 years ago in 2017 pump season and hasn't been capable of reaching that level ever since, despite all the pump attempts so far. How much is ETH worth today? 0.04-0.05? That's a long fall from 0.15BTC...

Again, have you checked the market today? Bitcoin recovered and Ton surpassed $7. As expected, I believe and will wait for Ton to touch $10 and that's when I take profit, I don't think it will decrease as you expected before. As for ETH or many other altcoins, we have not yet entered the real bull season, so it is still early to evaluate who fails and who wins. Not only does Ton show its superiority, you can also see memecoins like Pepe, floki... are all growing quite well, even outperforming bitcoin.

I admire bitcoin maximalists because they have a strong belief in bitcoin and they inspire the community, but sometimes they are quite conservative with their views. But I'm glad you have a friendly view of altcoins, because as you said, they are also part of the crypto industry. Although there are many scandals and scams related to them, but we are only in the early stages and it is difficult to avoid.  But I believe in the future there will be useful altcoin projects that bring real benefits, not just speculation like today.

[STT]

NFT can only really come back I think if tied in some way to work performed in a transformative way by AI technology.  AI does have a cost to its usage and development and I presume AI is able to make unique iterations of the NFT to sell.   If somehow that created a sustainable marketplace of artwork I wouldn't be too surprised.

Vanity gear digitally existing only within a game is already a thing for over ten years, prices can be high.  That isnt NFT but to me that market indicates NFT might be an ongoing part of crypto, valued by some.

[harapan]

The crypto market is volatile, and everyone is aware of that. So a 10% change over a month is nothing major or worth of a serious analysis or discussion. Bitcoin is still very close to the ATH point and well above its usual price range, so I think these are just minor corrections that don't set the trend. It's impossible to say whether the price will go up or down from here because not enough time has passed. If we zoom out the chart to see Bitcoin over the last year, we're still at the top, which kind of looks like a bull market situation to me.

The truth is that crypto gained investors from all over,investors flocked bitcoin from diverse means,and that made or caused a significant activity for bitcoin community.
The bitcoin halving was largely priced and expected leading to spectacular market dynamics,and for everyone involved in crypto.Understanding how this bitcoin halving works is an important Masterpiece for every bitcoin user and crypto community.it will require continuous engagements,observations,preparations and actions that'll present activeness and successful validation.

[Zaguru12]

When things like this happened, do you know how much worth of crypto assets were being liquidated each time we are having a downtrend in the crypto market, most especially when the market go dips suddenly as a result of any economical breaking news which indirectly affects the demands or supply of bitcoin and other cryptocurrencies, still yet, we have many investors earning their profits from the opposite of these when the market is pumping and they are being productive on their investment, because the buy and sell constitute how the crypto volatility works and it price determination.

There is liquidation even when market is on uptrend. This liquidation happens as a result of traders taking the short option and when the price is uptrend it takes out their liquidation areas or prices.

The month of April was bearish which was the first bearish candle month since august last year. To me this dip was definitely expected due to the fact that the market was long in an uptrend which was due to the FOMO that accompanied the ETF approval and the market needed to take correction which is currently what we are facing now.

[enywu]

It’s important to note that the cryptocurrency market is highly volatile, and these predictions are based on current market analyses and trends(Refer to the data on CoinCarp). Investors should always conduct their own research and consider their risk tolerance when making investment decisions.

[shinratensei_]

the series of point farming with LRTs has been showing rather disappointing return for most of people, it could be a sign that this point farming mechanism might be no more within few quarters into the future.
this might affect the price of ethereum but we can't be sure, for all I know these airdrop based farming with various mechanism that they introduced always give some random massive rewards out of nowhere so I guess it gonna motivate many people to keep farming point with the LRTs.

overall the market is well, stablecoin market cap increase as you said, so many stablecoin issuer keep issuing more and more of their token growing the overall market cap.
but its also projected that the bullrun might arrive probably next year, hopefully market just keep being well until the next bullrun.
right now even restaking platform that uses BTC also appear by many, it will also helps incentivize locking bitcoin and could help price increase through scarcity.

[kentrolla]

we have witnessed this in the April and post April but again we cannot predict much as it's highly volatile nowadays, we don't get to see predictions coming true and every individual needs to do their own research and due diligence before taking any steps in order to avoid regretting later. I used to have similar thoughts about the month of December as I used to consider it as month of dumps by looking at previous few year's trend but this time I was proven wrong as it's too unpredictable.