OVERVIEW

Green Flickers On The Screen 🟢

Before we dive in, here’s today’s crypto market heatmap:

Source: Santiment

And here’s a look at crypto’s total market and altcoin market cap charts:

Source: TradingView

NEWS IN THREE SENTENCES
Crypto News 📰

📉 Getting Listed on Binance Now Basically a Curse, Research Confirms

Turns out the coveted “Binance pump” is officially dead, with over 94% of newly listed tokens tanking since 2024—some dropping a gut-wrenching 97%. The platform once seen as crypto’s golden ticket now feels more like a shortcut to getting rekt. Protos.

💳 Mastercard Dreams of Becoming the Venmo of Crypto

Mastercard ($MA ( ▼ 0.21% )) is diving headfirst into blockchain, aiming to become the Venmo of digital assets and bring crypto payments to its billions of cardholders. They’ve partnered with JPMorgan and Standard Chartered to tokenize everything from deposits to carbon credits. Business Insider.

🆘 Justin Sun Saves TUSD’s Ass, Quietly Covers Up a $456M Dumpster Fire

Justin Sun quietly bailed out $TUSD.X ( ▼ 0.22% ) after $456 million of its reserves mysteriously turned illiquid, thanks to some shady Dubai investments. Sun stepping in to rescue a stablecoin is like trusting a pyromaniac with your fire safety drills. Let’s hope the next Sun bailout doesn’t involve $TRX.X ( ▲ 0.09% ). CryptoBriefing.

🤳 HBAR Foundation Teams Up with OnlyFans Founder to Rescue TikTok from Ban Hammer

The $HBAR.X ( ▼ 2.21% ) Foundation and Zoop—led by OnlyFans mastermind Tim Stokely—just jumped into the bidding war to buy TikTok’s US operations, hoping to save American teens from the existential dread of losing their favorite app. If successful, Zoop promises to create a “new paradigm,” presumably one where influencers get fairly paid instead of just dancing for algorithm scraps. Cointelegraph.

🧐 Circle’s IPO is Raising Eyebrows—And Not in a Good Way

Circle’s upcoming IPO has analysts side-eyeing its shaky financials despite hitting $1.67 billion revenue in 2024. Costs are spiraling, profits took a 42% nosedive, and the stablecoin kingpin blew over $1 billion on fees to exchanges like $COIN ( ▲ 4.83% ) and Binance. Experts wonder if the IPO is Circle’s subtle cry for liquidity—or an overpriced life raft hoping Coinbase or Ripple swoops in if things go south. CryptoDNES.

STOCKTWITS CASHTAG AWARDS PRESENTED BY ETORO
Will We See You At The Cashtag Awards? 😎 

The hottest night in social finance is happening live in NYC on Wednesday, April 30th, and the guest list continues to grow. Are you on it? 🤔 

Join us to celebrate the biggest names in finance. Plus, network with personalities you know and love at our open-bar happy hour and cocktail reception. 🍻 

Here are some of the names you may recognize: Jan van Eck (VanEck CEO), Ben Cahn & Emil DeRosa (Ben & Emil Show/The Weekend Rip), Chris Camillo (Dumb Money), Michael Batnick (Ritholtz Wealth/The Compound), Gav Blaxberg/Shay Boloor (Wolf Financial), and Jake Wujastyk (JakeWu Market Research). 👀 

Plus, top Stocktwits community members like Brian Shannon (alphatrends), Gpaisa, DonCorleone77, Michael Nauss (Stats Edge Trading), and more!

If you’re in the New York area and are interested in attending, reply directly to this email with the words “I’m In.” We’ve got limited tickets available, but will do our best to hook our loyal newsletter readers up so we can see you there! 🤝 

Want to guarantee you can attend? Grab your tickets now! 🎫 

TECHNICAL ANALYSIS
The Good, The Bad, And The Ugly 🎥 

The Good – Bitcoin

$BTC.X ( ▼ 0.98% ) has a nice breakout above the neckline of an inverse head and shoulder pattern. 💹 

BTCUSD Daily Chart – Click to enlarge.

Thomas Bulkowski—legendary pattern expert and author of The Encyclopedia of Chart Patterns—has a checklist for spotting the inverse head and shoulder (he calls it the head and shoulders bottom, or HSB) setup:

• Shape: Bitcoin printed three troughs, with the middle one giving us a nice dramatic dive beneath the shoulders – check.

• Symmetry: While it’s not perfectly symmetrical (when is Bitcoin ever?), both shoulders are close enough in distance and depth. So, good enough.

• Volume: Big volumes on the left shoulder and head, tapering down to a quiet, sneaky right shoulder. Nailed it.

• Retest: Bulkowski mentions about 45% of these patterns will retest the neckline after a breakout.

Couple notes here: Bulkowski’s work was done almost entirely in equity markets. So while Bitcoin and equities are waaaay different in what’s considered a normal move, the principles are the same.

BTC’s recent action fits Bulkowski’s criteria like a glove—and if Bulkowski’s stats pan out, then there’s some strong upside potential for Bitcoin. 👍️

The Bad – Aave

$AAVE.X ( ▼ 6.4% ) is the Bitcoin of lending protocols with nearly $18 billion in TVL. 😲 

But despite some bullish fundamental data with changes to IRS reporting for the DeFi space, it just can’t seem to catch a break. Not even buy backs are helping.

AAVEUSD Daily Chart – Click to enlarge.

It’s still down nearly -60% from its December 2024 highs, with not a ton of technical data showing that direction will change anytime soon. 🥹 

The Ugly – Jupiter

If $JUP.X ( ▼ 5.42% ) was a movie, it would be 2000s Requiem for a Dream. 💤 

Starts off fun and has big dreams but one minute after the other it’s all down hill, ultimately ending in soul crushing despair. And it’s daily chart has what I call the FINGER OF DEATH pattern.

JUPUSD Daily Chart – Click to enlarge.

Jupiter hit new all-time lows today – and it’s not hard to see why:

• Jupiter’s DAO is experiencing significant internal conflict leading to token value plummeting from a high of $1.36 in late January to $0.40 currently, marking a 70% drop in 5 weeks.

• Rampant inflation is blamed on governance-driven token distribution programs, notably Active Staking Rewards (ASR) and the Jupuary airdrop, injecting around 850M new tokens into circulation.

• A significant unstaking event is imminent, with over 75M JUP tokens expected to hit the market within the next 30 days, alongside an additional 50M tokens from ASR.

It’s going to take a miracle to bring this thing back to life. 💓 

ON-CHAIN ANALYSIS
Burnt Bag Briefing 🔥 

Want to know whether the bulls or bears are feeling the most pain today? Well, this is the place to look. 👀

24-Hour Liquidation Heat Map – Source: coinglass – Click to enlarge.

In the past 24 hours, 107,255 traders were liquidated, with total liquidations reaching nearly $236.25 million.

The largest single liquidation occurred on Binance, a BTCUSD pair valued at $3.15 million.

Longs lost $114.98 million, while shorts were hit for $121.27 million. 🤕

NEWS IN THREE SENTENCES
AI, Stablecoins, & Privacy News 🕵️ 

💸 Curve and Resupply Team Up, Finally Giving Stablecoins Something Useful to Do Besides Sitting Around

$CRV.X ( ▼ 2.97% ) just leveled up capital efficiency by partnering with Resupply, turning crvUSD into collateral that actually earns while you borrow. Now you can mint Resupply’s reUSD stablecoin without losing your original yield. Curve Protocol. Curve Finance.

🤖 aelf Unveils aevatar.ai

$ELF.X ( ▲ 8.34% )’s new white paper introduces aevatar.ai, a cloud-native AI framework simplifying dApp development with plug-and-play agents. Now your Telegram group can be managed by a bot that hallucinates slightly less than your previous intern. aelf.

NEWS IN THREE SENTENCES
Real World Asset Tokenization (RWA) News 🪙 

🔗 Dusk and Chainlink Join Forces to Tokenize Real-World Assets

$DUSK.X ( ▼ 3.72% ) partnered with $LINK.X ( ▼ 3.62% ) to bring compliant, tokenized real-world assets on-chain without scaring regulators. Institutional finance can now smoothly move securities and bonds across blockchains—welcome to the future, suits. Congrats finance, you’ve finally caught up to what crypto degens have been doing since 2017. Dusk Network. Dusk Network.

🍽️ Blackbird Uses Arbitrum to Fix Restaurant Loyalty Programs

Blackbird partnered with $ARB.X ( ▼ 2.77% ) to transform restaurant payments and loyalty, distributing millions of FLY tokens without making crypto feel like a gimmick. Diners earn perks seamlessly, restaurants escape payment processor traps, and nobody has to pretend NFTs are usefu. Arbitrum.

NEWS IN THREE SENTENCES
DeFi, DEX, & Lending Protocol News 🏦

🚀 Band Protocol Powers Monad’s Blockchain

$BAND.X ( ▼ 3.08% ) integrated with Monad’s testnet, providing price feeds faster than you can panic-sell. Monad now promises 10,000 transactions per second—great for DeFi, GameFi, and probably your portfolio’s next spectacular flameout. Band Protocol.

💰 Mantle Network Rolls Out New DeFi Rewards

Mantle launched new reward pools, AI-driven DeFi automation, and fixed-yield ETH vaults to keep your portfolio moving while you barely move a finger. Users can earn “Powder” just for interacting with dApps, though thankfully nobody asked them what “Powder” actually is. Mantle.

🥖 Tezos Revamps Staking Dapp

Tezos revamped its staking app, simplifying staking to just four steps while boosting rewards by 3x post-Quebec upgrade. The new process is idiot-proof enough that even your least tech-savvy relative can earn rewards without calling you for help. That might be a bit of an exageration, but you get the point. Tezos.

LINKS
Links That Don’t Suck 🔗

🤯 Amazon stuns with shock bid to buy TikTok

🤷 China restricts investments in the U.S. — what about Bitcoin mining industry?

Nintendo Switch 2 will release in June with ‘Mario Kart World’

🏯 Japan’s second-largest bank SMBC eyes stablecoin launch with Ava Labs: Nikkei

🪙 Ripple debuts RLUSD on Kraken as the stablecoin’s market cap approaches $250M

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Author Disclosure: The author of this newsletter holds positions in ADA, IMX, COPI, MIN, AGIX, ALGO, ZEC, XLM, and NEAR. 📋