Bitcoin ETFs, gov’t adoption to drive BTC to $1M by 2029: Finance Redefined

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The cryptocurrency marketplace continued its betterment successful the past week arsenic the full crypto marketplace capitalization breached the $3 trillion people for the archetypal clip since the opening of March.

Bitcoin (BTC) roseate to an implicit two-month precocious of $97,300 past seen astatine the extremity of February, earlier the “Liberation Day” tariffs announcement successful the US, bolstering expert predictions for a rally driven by “structural” organization and exchange-traded money (ETF) inflows into the world’s archetypal cryptocurrency.

Risk appetite continued rising among crypto investors, arsenic Chinese state-linked quality outlets indicated that the Trump medication has softly contacted Beijing to sermon tariff reductions.

In the wider crypto space, Ethereum developers projected a caller token modular to amended the interoperability of the world’s second-largest blockchain network.

Bitcoin to $1 cardinal by 2029 fueled by ETF and gov’t request — Bitwise exec

Bitcoin’s expanding organization adoption whitethorn supply the “structural” inflows indispensable to surpass gold’s marketplace capitalization and propulsion its terms beyond $1 cardinal by 2029, according to Bitwise’s caput of European research, André Dragosch.

“Our in-house prediction is $1 cardinal by 2029. So that Bitcoin volition lucifer gold's marketplace headdress and full addressable marketplace by 2029,” helium told Cointelegraph during the Chain Reaction regular X spaces show connected April 30.

Gold is presently the world’s largest asset, valued astatine implicit $21.7 trillion. In comparison, Bitcoin’s marketplace capitalization sits astatine $1.9 trillion, making it the seventh-largest plus globally, according to CompaniesMarketCap data.

For the 2025 marketplace cycle, Bitcoin whitethorn surpass $200,000 successful the “base case” and $500,000 with much governmental adoption, Dragosch said.

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Eric Trump: USD1 volition beryllium utilized for $2 cardinal MGX concern successful Binance

Abu Dhabi-based concern steadfast MGX volition usage a stablecoin linked to US President Donald Trump’s household to settee a $2 cardinal concern successful Binance, the world’s largest cryptocurrency exchange.

The World Liberty Financial USD (USD1) US dollar-pegged stablecoin was launched by the Trump-associated crypto level World Liberty Financial (WLFI) successful March 2025.

MGX volition usage the USD1 stablecoin for its $2 cardinal concern successful the Binance exchange, according to an announcement by Eric Trump during a sheet treatment astatine Token2049 successful Dubai. Trump, the lad of the president, serves arsenic enforcement vice president of the Trump Organization.

MGX announced its concern successful Binance connected March 12, marking the archetypal organization concern successful the speech and 1 of the biggest backing deals successful the full Web3 industry.

At the time, Binance declined Cointelegraph’s petition to disclose what stablecoin was utilized successful the transaction.

This marks the Abu Dhabi-based concern firm’s archetypal task into the cryptocurrency space.

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Ethereum to simplify crosschain transactions with caller token standards

Ethereum developers are moving to amended blockchain interoperability with 2 caller token standards: ERC-7930 and ERC-7828.

“There’s nary modular mode for wallets, apps, oregon protocols to construe oregon show this information,” decentralized concern (DeFi) ecosystem improvement enactment Wonderland wrote successful a May 1 X post. Wallets, decentralized applications (DApps), artifact explorers and astute contracts travel antithetic rules.

“The result? A messy, inconsistent acquisition that breaks crosschain UX,“ Wonderland stated.

Wonderland is simply a radical of developers, researchers and information scientists focused connected improving the Ethereum DeFi ecosystem. The enactment partnered with aggregate DeFi protocols, including Optimism, Aztec, Connext and Yearn.

In the post, the enactment shared what was discussed astatine a caller Ethereum Foundation interoperability moving radical call. Teddy from Wonderland explained that the existent extremity is to finalize some token standards wrong the adjacent 2 weeks. He added:

“We severely request feedback connected the ETH-Magicians forum.”

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Crypto hackers deed DeFi for $92 cardinal successful April arsenic attacks treble from March

Cryptocurrency hackers stole much than $90 cardinal successful April, dealing different stroke to the industry’s mainstream estimation contempt ongoing efforts to amended cybersecurity.

Hackers made disconnected with $92 cardinal of integer assets crossed 15 incidents successful April, according to an April 30 probe study by blockchain cybersecurity steadfast Immunefi.

The full marks a 124% month-over-month summation from March, erstwhile hackers stole $41 million.

The month’s largest hack connected open-source level UPCX accounted for astir of the harm successful April, with over $70 million successful losses, portion KiloEx mislaid $7.5 million arsenic April’s second-largest hack.

The KiloEx exploiter returned the stolen funds conscionable days aft the onslaught occurred.

All of April’s reported attacks targeted decentralized concern (DeFi) platforms. Centralized exchanges reported nary incidents during the month, the study noted.

Immunefi, which says it helps support $190 cardinal successful idiosyncratic funds, has paid much than $116 cardinal successful bounties to achromatic chapeau hackers.

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Crypto radical asks Trump to extremity prosecution of crypto devs, Roman Storm

The crypto lobby group, the DeFi Education Fund, has petitioned the Trump medication to extremity what it claimed was the “lawless prosecution” of open-source bundle developers, including Roman Storm, a creator of the crypto mixing work Tornado Cash.

In an April 28 letter to White House crypto czar David Sacks, the radical urged President Donald Trump “to instrumentality contiguous enactment to discontinue the Biden-era Department of Justice's lawless run to criminalize open-source bundle development.”

The missive specifically mentioned the prosecution of Storm, who was charged successful August 2023 with helping launder implicit $1 cardinal successful crypto done Tornado Cash. His proceedings is still acceptable for July, and his chap charged co-founder, Roman Semenov, is astatine ample and believed to beryllium successful Russia.

The DeFi Education Fund said that successful Storm’s case, the Department of Justice is attempting to clasp software developers criminally liable for however others usage their code, which is “not lone absurd successful principle, but it sets a precedent that perchance chills each crypto improvement successful the United States.”

The radical besides called for the designation that the prosecution contradicts the Treasury Department’s Financial Crimes Enforcement Network (FinCEN) guidance from Trump’s archetypal term, which established that developers of self-custodial, peer-to-peer protocols are not wealth transmitters.

“This benignant of ineligible situation does not conscionable chill innovation — it freezes it,” they argued. The missive added that it besides “empowers politically-motivated enforcement and puts each open-source developer astatine risk, careless of industry.”

In January, a national tribunal successful Texas ruled that the Treasury overstepped its authority by sanctioning Tornado Cash.

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DeFi marketplace overview

According to information from Cointelegraph Markets Pro and TradingView, astir of the 100 largest cryptocurrencies by marketplace capitalization ended the week successful the green.

The Virtuals Protocol (VIRTUAL) token roseate implicit 103% arsenic the week’s biggest gainer, followed by the Solayer (LAYER) token, up implicit 29% during the past week.

Thanks for speechmaking our summary of this week’s astir impactful DeFi developments. Join america adjacent Friday for much stories, insights and acquisition regarding this dynamically advancing space.

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