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A prolonged bear market has triggered a wave of project shutdowns and business reductions across the Web3 industry, Crowdfund Insider reported. As of early April, a total of 21 projects have announced service suspensions or downsizing. The primary causes cited are rising costs, declining user numbers, and shrinking liquidity. Notable examples include Leap Wallet, a wallet for Terra 2.0, which is set to shut down on May 28, while Magic Eden will discontinue its ME Wallet service on May 1. Additionally, Angle Protocol and ZeroLend have scaled back their DeFi operations, and platforms like Nifty Gateway and Sound.xyz have also ceased services.

Blockchain security firm PeckShield reported that 32.4 million wstUSR, representing about 40% of the 80 million USR illicitly minted by the Resolv Labs hacker, has been burned from the attacker's wallet. Between the direct burning and blacklisting, a total of 46 million of the illicitly minted tokens are now unusable. The initial hack on Resolv Labs involved an exploit that allowed for the minting of 80 million USR, resulting in a loss of $25 million.

Cryptocurrency wallet service Phantom announced via X that it is experiencing a temporary service outage, which includes errors in displaying token prices and balances. The company added that it is currently working to resolve the issue and will restore normal service as quickly as possible.

The seven-day moving average of transactions on the Bitcoin network has reached 615,000, its highest level since November 2024, according to CryptoQuant.

An address believed to belong to Bitcoin mining company Riot Platforms (RIOT) has deposited 500 BTC ($34.87 million) to crypto services firm NYDIG in what appears to be an additional sale, Lookonchain reported. Over the past five days, the address has deposited a total of 1,500 BTC ($102 million) to NYDIG.

Bitcoin mining firm MARA Holdings (MARA), formerly Marathon Digital, transferred 250 BTC (approximately $17.37 million) to an external address three hours ago, Lookonchain reported. This follows the company's sale of 15,133 BTC, worth $1.1 billion, between March 4 and 25.

An anonymous whale address starting with 0xA5 has deposited 60,001 ETH, worth approximately $128.8 million, to Coinbase, according to Lookonchain. Deposits to exchanges are generally interpreted as a potential precursor to selling.

The Solana Foundation has launched two new initiatives, STRIDE and SIRN, in partnership with Asymmetric Research to enhance security across its DeFi ecosystem. According to an official announcement, STRIDE is a program designed to evaluate, monitor, and strengthen Solana protocols through independent assessments based on eight security standards, with results to be disclosed transparently. SIRN is a network of professional security firms established to provide an immediate response to security incidents.

DeFi lending protocol Spark has initiated its scheduled SPK buyback, transferring 414,000 USDS to a buyback address approximately seven hours ago, according to EmberCN. This follows a purchase last month where Spark acquired 26.66 million SPK for 570,000 USDS.

Police in South Korea have launched an investigation into a series of crypto investment scams after receiving multiple complaints from victims who were allegedly defrauded by individuals they met on social media, Yonhap News reported. The complainants claim they were persuaded to invest in crypto by people they met online, who then disappeared after receiving the funds. According to the cyber investigation division of the Gyeonggi Nambu Provincial Police Agency, four such complaints had been filed by the end of March, with total alleged damages amounting to approximately 1 billion won ($740,000).

Iran has launched ballistic missiles toward Israel, an official reported.

CoinMarketCap's Altcoin Season Index is currently at 32, a one-point decrease from yesterday. The index is calculated by comparing the price performance of the top 100 cryptocurrencies, excluding stablecoins and wrapped coins, against that of Bitcoin over the past 90 days. An "altcoin season" is declared when 75% of these top 100 coins outperform Bitcoin during this period. Conversely, a lower reading indicates a "Bitcoin season." A score closer to 100 is considered indicative of an altcoin season.

According to Eleanor Terrett, U.S. SEC Chairman Paul Atkins said the agency is preparing its own Reg Crypto regulations, a parallel effort to the Clarity Act currently making its way through Congress. The term Reg Crypto refers to a new fundraising exemption provision in Section 103 of the U.S. Senate's Clarity Act. The provision would create a new exemption under the Securities Act of 1933, designed to allow cryptocurrency projects to raise funds from investors, distribute tokens, and pursue decentralization.

Top 5 Gainers (24h) F: +12.65% ($0.0057), volume $5.05 million ANIME: +4.15% ($0.0047), volume $9.31 million CELO: +3.30% ($0.0863), volume $5.64 million BTT: +2.94% ($0.00000032), volume $7.83 million BAL: +2.37% ($0.1598), volume $2.1 million Top 5 Losers (24h) NAP: -3.04% ($1.76), volume $678,850 SOLV: -2.17% ($0.0038), volume $37.88 million DEGO: -1.93% ($0.355), volume $31.42 million ORDER: -1.84% ($0.0537), volume $97.73 million YB: -1.76% ($0.1183), volume $9.06 million

The Spot CVD chart provides an analysis of the BTC/USDT spot pair's order book. The top section shows a Volume Heatmap, and the bottom section displays the Cumulative Volume Delta (CVD). - The Volume Heatmap tracks the volume of trades at specific price levels. The background color brightens when the price lingers in a certain range or moves significantly, with these brighter areas potentially acting as support or resistance levels. - The Cumulative Volume Delta (CVD) indicator represents buy and sell orders categorized by trade size. As buy orders increase, the corresponding colored line rises. For example, the yellow line tracks orders between $100 and $1,000, while the brown line represents large orders between $1 million and $10 million.

The Crypto Fear & Greed Index, compiled by Alternative, has fallen two points from yesterday to 11, indicating that a state of extreme fear continues to grip the market. The index measures market sentiment on a scale of 0, representing extreme fear, to 100, signifying extreme optimism. Its calculation is based on volatility (25%), trading volume (25%), social media mentions (15%), surveys (15%), Bitcoin's market capitalization dominance (10%), and Google search volume (10%).

An anonymous address withdrew 102.62 million USDC from Aave, according to data from Whale Alert.

According to CoinNess market monitoring, BTC has fallen below $69,000. BTC is trading at $68,937.6 on the Binance USDT market.

Udi Wertheimer, co-founder of Taproot Wizards, has argued that the Lightning Network is structurally vulnerable in a quantum computing environment. According to CryptoPotato, he explained that if a cryptographically relevant quantum computer (CRQC) capable of reverse-engineering private keys from public keys emerges, the risk of fund theft would increase. This is because the Lightning Network's design necessitates the sharing of public keys. Wertheimer noted that, unlike on-chain transactions, avoiding key exposure is difficult, and the network's reliance on third-party storage structures also elevates the risk.

U.S. SEC Chairman Paul Atkins announced that the commission's crypto safe harbor rule is scheduled for review by the White House. The rule includes a four-year exemption for startup fundraising and guidelines on token classification.

Decentralized exchange (DEX) Aster (ASTER) has partnered with World Liberty Financial (WLFI), a DeFi project linked to the Trump family, BeInCrypto reported. Under the partnership, USD1 will be added as a settlement asset for traditional finance (TradFi) perpetual contracts on Aster.

The three major U.S. stock indices closed higher today. - S&P 500: +0.44% - Nasdaq: +0.54% - Dow Jones: +0.36%

Cybersecurity researcher Taylor Monahan has claimed on X that North Korean IT workers have been active in the DeFi industry for years, contributing to the development of numerous well-known protocols, particularly during the summer of 2020. According to CryptoPotato, when asked for specific examples, Monahan cited projects including SushiSwap, THORChain, Yearn, Harmony, Anchor, and Shiba Inu. He emphasized that the claims of seven years of blockchain development experience on their resumes are not false.

Coinbase has announced it will support the migration from DAI to USDS from May 4 to 6.

Whale Alert reported that 250 million USDC has been minted at the USDC Treasury.