Author: Monicah W

Tether released its first formal attestation for Tether Gold (XAU₮). According to the report, each XAU₮ token is backed by 1 troy ounce of actual gold, with 246,523.33 ounces now in circulation.

Tether reveals 7.7 tons of physical gold backing

As per the attestation, Tether stated that the tokenized gold product is backed by more than 7.7 tons of physical gold. As per the details, the physical gold backing XAU₮ is secured in “a dedicated vault within world-class facilities in Switzerland.” The gold reserves are made of London Bullion Market Association (LBMA) gold bars, which have multiple layers of security controls.

These controls, as Tether describes them, include “rigorous counterparty selection, certificate verification of gold bars, and regular assays done in the presence of auditors.” The firm stresses that the process of XAU₮ issuance works under strict procedural and legal guidelines. This is done to prevent any kind of falsification.

Tether CEO Paolo Ardoino highlighted the company’s commitment to maintaining the 1:1 backing. The firm stated, “With XAU₮, we’re offering users the ability to access the security of physical gold in a digital form—secure, easily transferrable, and backed 1:1 by fully held gold reserves.”

Growth of XAU₮ linked to several factors

Tether’s report attributes the growth of XAU₮ during Q1 2025 to several macroeconomic factors. These include “escalating global economic uncertainty, heightened geopolitical tensions, and a rising demand for inflation-resistant stores of value.”

The company specifically noted a surge in market cap that happened amid investor concerns about “new international trade tariffs.” The firm views it as validation of “gold’s role as a hedge in volatile markets.”

The token’s all-time highest price was $3,423 on April 21, 2025. Tether further highlighted that the amount of inventory indicated by the attestation is more important than the price.

This expansion is hand in hand with the general trends in the gold market. The report also quoted information from the World Gold Council indicating massive central bank purchases of gold.

According to these figures, global gold reserves stood at 37,755 metric tons at the end of 2024. Central banks were also making net purchases of 1,044.6 metric tons throughout 2024. The fourth quarter of 2024 alone saw central bank gold buying of 332.9 metric tons.

Tether noted that this accumulation pattern has been particularly strong among BRICS nations, which are “seeking to diversify away from U.S. dollar dependency.” The firm is the issuer of the largest stablecoin, Tether. USDT price maintains its peg at $1 and is the largest stablecoin with a $147 million market cap.

CoinGape has also released their Tether (USDT) price prediction, which indicates it is 53% bullish.

The post Tether Reveals Over 7.7 Tons of Physical Gold Backing For XAU₮ Stablecoin: Report appeared first on CoinGape.

The Binance spot market data shows that buyers are finally outpacing sellers for the first time in months. Notably, the shift is catching attention across the crypto market as Bitcoin holds strong above key price levels. As the biggest trading platform, the change in volume might have a major impact on the outlook of Bitcoin and the altcoin. 

The Binance CVD Analysis

Data from CryptoQuant disclosed that the Cumulative Volume Delta (CVD) of crypto exchange Binance has been trending upward since Bitcoin dropped to around $75,000. According to the update, this metric tracks the net difference between buying and selling orders. 

Analyst Joao Wedson shared charts showing that while the Binance CVD has turned positive, other exchanges like OKX, Bybit, HTX Global, BitMEX, and Deribit still show declines.

Binance Spot Buying Volume Rises Above Selling Volume for the First Time in Six Months

For the first time in six months, spot buying volume on Binance is rising again relative to selling volume.

Since the $75k USD bottom, the CVD (Cumulative Volume Delta) has been trending… pic.twitter.com/8c3j34xMzW

— Joao Wedson (@joao_wedson) April 28, 2025

It is worth noting that this marks a break from the pattern seen since 2021, when positive growth on Binance had been rare. Based on the current market outlook, the rise in CVD aligns with the Bitcoin price surge toward $94,000 by late April. 

Joao Wedson also emphasized that a rising CVD shows more substantial buying pressure and growing confidence among traders. He advised monitoring this trend closely as it offers valuable insights into risk appetite on the exchange.

Is Demand Rising for Bitcoin?

Beyond Binance, several other signs suggest that demand for the largest digital asset, Bitcoin, is gaining momentum. 

According to CoinShares, digital asset investment products from top asset management companies recorded $3.4 billion in inflows over the past week. 

CoinGape reported that BTC inflow topped $3 billion. Ethereum also posted inflows of $183 million after weeks of outflows. If anything, this shows a renewed interest of investors in acquiring and trading major cryptocurrencies.

Reports indicate that corporate interest in Bitcoin is heating up. Strategy Inc’s recent purchase of 15,355 Bitcoin for $1.42 billion further signals strong institutional demand. Whales have also been active, with a major buyer acquiring $110 million of Bitcoin and Ethereum via over-the-counter transactions.

Drawing on these trends, Presto executive Peter Chung reaffirmed a $210,000 Bitcoin price target for 2025. The forecast highlights institutional adoption and global liquidity growth as key drivers.

Key Market Trends to Watch

While Bitcoin might be the biggest asset in the spotlight, other key market trends could also shape the overall health of the industry. The demand for SEC approvals of digital asset ETFs remains on the agenda. Recently, the SEC approved the first XRP futures-based ETF with sizable volume scored in 30 minutes. 

Also, beyond Binance, market data shows that Bitcoin whales and sharks are active, while bullish on-chain metrics further support the positive outlook. 

CoinMarketCap data shows that Bitcoin’s price was trading at around $94,011.77 as of this writing. It has inked a 1.16% growth in the last 24 hours, and trading volume has also risen 71.62% over the same period. The confluence of metrics suggests more uptick is likely.

The post Binance Spot Volume Faces Positive Buy-Sell Imbalance, Is Demand for Bitcoin Rising? appeared first on CoinGape.

Confusion spread across the crypto community after rumors suggested that ProShares would launch XRP ETFs on April 30. However, Bloomberg ETF analyst James Seyffart confirmed that there is no official launch date yet. The false reports were based on an old regulatory filing, leading to widespread misinformation online.

ProShares Clarifies XRP ETF Launch Plans

According to Bloomberg ETF analyst James Seyffar reports on ProShares would launch XRP ETFs on about an April 30 launch were inaccurate. He added that, although no official date is set, a launch is expected in the short to medium term.

Concurrently, a spokesperson for ProShares also commented, saying, “ProShares does not have any ETF launches scheduled for Wednesday, April 30. We have no further news to share at this time.” This statement further confirmed that there are no immediate plans to introduce the ETFs this week.

The rumors originated from a regulatory filing dated April 15, which some media outlets misrepresented as a new development. These errors led to incorrect reporting and social media sharing before verification. However, despite the clarification of the ETF launch, the XRP price has remained bullish with the price trading at $2.29, a 0.59% surge from the intra-day low. During the rally, the 24-hour market capitalization and trading volume surged by 1% and 28% respectively to $133.9B and $4.53B.

Futures-Based XRP ETFs Expected, Not Spot Products

Nate Geraci, President of The ETF Store, had earlier discussed the nature of the upcoming ProShares XRP ETFs. He explained that the new products are not spot ETFs and will not hold XRP directly.

Instead, the planned ETFs will offer exposure to XRP through futures contracts. According to Geraci, the ETFs will include leveraged and inverse options, giving investors different ways to gain exposure to XRP price movements.

He also mentioned that Teucrium launched a 2x Long XRP ETF (XXRP) earlier this month. This product uses swap agreements and seeks to provide twice the daily return of XRP. As of now, the XXRP fund manages around $42.79 million in assets under management.

SEC Scrutiny Remains Over ETF Applications

The Securities and Exchange Commission (SEC) has yet to approve any spot Ripple ETF applications, unlike in Brazil. Firms such as Grayscale, Bitwise, and Franklin Templeton are still awaiting a decision from the regulator.

Geraci raised concerns about why the SEC has allowed futures-based Ripple ETF while being cautious about spot products. Futures ETFs face fewer regulatory hurdles compared to spot ETFs, which are subject to more detailed risk reviews. According to Polymarket, the chances of a Ripple ETF to get approved this year has gone up by 8% to 78% boosted by the current talks of the ProShares XRP ETFs.

Concurrently, Bloomberg noted that the SEC has been reviewing applications carefully and has not yet indicated when or if approvals will be granted. The new US SEC Chair Paul Atkins is expected to play a crucial role in reviewing these applications later this year.

The post Breaking: No XRP ETF April 30 Says Bloomberg Analyst appeared first on CoinGape.

The price of Ethereum, is back in the spotlight after new updates from the Ethereum Foundation. Vitalik Buterin and other key leaders of the foundation have shared a fresh vision to strengthen the network’s future. The announcement comes as the Ethereum price shows signs of bullish consolidation.

The Ethereum Foundation Vision: Key Takeaways

The Ethereum Foundation announced significant leadership changes on April 28, 2025. As part of the many transitions, Aya Miyaguchi, who had led the organization as Executive Director, has stepped into the role of President. Notably, Vitalik Buterin spoke on EF leadership change and what to expect earlier in the year.

Hsiao-Wei Wang and Tomasz K. Stańczak have been named Co-Executive Directors. The move follows community pressure for more transparency and more decisive technical leadership.

According to the update, the Foundation plans to focus even more on scaling Ethereum while protecting its core values under this new structure. 

2/ First, from @AyaMiyagotchi and @VitalikButerin: a restatement and update on the EF’s vision, principles and values for this new era.https://t.co/kdqOMDyu2i

— Ethereum Foundation (@ethereumfndn) April 28, 2025

Wang and Stańczak will focus on areas like improving Ethereum’s mainnet. In addition, they will work on boosting Layer 2 performance and creating an environment for developers to build and grow. The leadership says the goal is to keep Ethereum resilient while helping the wider community lead future developments.

It is essential to add that the Foundation clarified that decentralization remains a priority. They intend to guide Ethereum price growth without taking complete control, describing their role as stewards rather than rulers.

Implications For Ethereum Price

The Ethereum vision shared by the protocol’s core leaders has not impressed the community, as seen in the price outlook. CoinMarketCap data shows that ETH’s price has been fluctuating. It is currently trading at $1,767.59, down 1.82% daily. 

However, historical data shows that May tends to be a strong month for the Ethereum price. This is because activity always increases, often driving the Ethereum price to see a potential 30% rally. Analysts are watching closely to see if the pattern repeats.

Whale investors have also made significant moves recently. According to a CoinGape report, traders holding between 1,000 and 10,000 ETH added around 10 million tokens to their holdings over the past 24 hours.

It is worth noting that a new proposal, EIP 9698, could further support Ethereum’s growth by increasing the gas limit. This will allow the network to record up to 2,000 transactions per second. If this improvement moves forward, it could give Ethereum an edge over rival blockchains.

Ethereum Ecosystem Updates in View

Beyond price moves, the Ethereum ecosystem is expected to benefit from the Foundation’s new approach. Plans to improve developer tools, Layer 2 connections, and application support are underway.

The leadership aims to make Ethereum easier for developers, improve its performance, and make it more appealing to users globally. If these goals are achieved, Ethereum could become a more dynamic and resilient platform in the years ahead.

Notably, the conversations around visions for the protocol come when the ecosystem is waiting for the next major upgrade after the Dencun update. After months of development, the Ethereum Pectra upgrade is set to go live on the mainnet in May. The upgrade will bring more scaling developments to the protocol moving forward.

The post Ethereum Price Reacts As Vitalik Buterin Co-Unveils Ethereum Foundation’s Vision appeared first on CoinGape.

The crypto community has its eyes on the next FOMC meeting holding in May, with discussions on whether Jerome Powell and the Fed will cut interest rates. However, traders are betting against this happening and instead, expect the US Central Bank to hold rates steady despite calls from US President Donald Trump.

Will The Fed Cut Rates Following The May FOMC Meeting?

CME FedWatch data shows there is only a 9% probability of the Fed cutting interest rates to between 400 and 425 basis points (bps) following the FOMC meeting, which will take place between May 6 and 7. Meanwhile, there is a 91% chance that the Fed will keep rates steady between 425 and 450 bps.

Polymarket traders are also betting on the Fed keeping interest rates steady. Data from the prediction platform shows that there is a 90% chance that the interest rates will remain unchanged following the May meeting. There is a 9% and 1.2% chance that the FOMC will cut rates by 25 basis points and 50 basis points, respectively.

It is worth mentioning that Bank of America earlier this month predicted that there would be four Fed rate cuts this year. They expect the first rate cut to come in May, with the others coming in July, September, and December.

However, it is understandable why traders are betting against a rate cut happening at the next FOMC meeting. In a recent speech, Fed Chair Jerome Powell suggested that they have no intention to cut rates until they determine the extent to which Trump’s tariffs could impact the economy.

In his speech, Powell also suggested that the tariffs will likely lead to higher inflation, which is why they are cautious about rushing to ease monetary policy.

Meanwhile, US President Donald Trump has insisted that this is the right time for Powell and the Fed to cut interest rates. Trump warned of a slowdown in the US economy if Powell and his committee refuse to cut rates.

Why The Fed Is Unlikely To Cut Rates

In an X post, market expert Kevin Green stated that prices are up, new orders are down, and general activity is cratering, which is why the Fed is unlikely to cut interest rates at the May FOMC meeting.

He remarked that the US Central Bank isn’t cutting rates without a significant crack in the labor market. The expert also suggested that the Fed is unlikely to cut rates at the June FOMC meeting, stating that time is running out for the datapoint to justify a June cut.

Market participants will have their eyes on the US GDP and PCE inflation reports, which will be released on April 30. These data could impact the odds of the Fed’s decision at the May meeting.

While a rate cut looks unlikely at the moment, a potential cut would undoubtedly be bullish for the Bitcoin price and the broader crypto market. The easing of monetary policy leads to more injection of capital into these risk assets.

The post FOMC Meeting: Will The FED Cut Interest Rates On May 7th? appeared first on CoinGape.

The post Chainlink Price Analysis: $10 or $19 Next for LINK? appeared first on Coinpedia Fintech News

• Chainlink price failed to breach a crucial resistance level above $15 in the recent mild crypto recovery.

• Chainlink adoption rate has gradually grown in the past months, possibly bolstering possible bullish sentiment.

The wider altcoin market, including Chainlink (LINK), experienced low bullish sentiment on Monday, as Bitcoin (BTC) price got rejected again above $95k. More than 113k crypto traders were liquidated over $267 million, mostly involving long traders.

As a result, the heating up crypto leveraged market slightly cooled down, amid anticipated bullish sentiment. The total crypto Open Interest (OI) had dropped around 1 percent in the past 24 hours to hover about $119 billion on Monday, during the mid-North American session.

What Next for Chainlink Price

Since October 2023, Chainlink price has signaled bullish sentiment, after consistently closing above the resistance range between $8.3 and $9.5 and subsequently converting it to a robust support level.

However, the large-cap altcoin, with a fully diluted valuation of about $14.7 billion and a 24-hour average trading volume of about $420 million, recently revisited the support level of around $10. With LINK price having formed lower lows and lower highs YTD, fears of further capitulation are palpable.

From a technical analysis standpoint, LINK price has already breached the daily falling logarithmic trend, signaling the bulls have regained control. Furthermore, the daily MACD line crossed above the zero line in the past week, for the first time since February 2025. Additionally, the daily Relative Strength Index (RSI) pumped above the 50 percent level in the past few days, for the first time since February.

According to crypto analyst Ali Martinez, LINK price is well primed for a momentum shift, with a potential pump above $18 soon.

Growing Ecosystem Favors Bullish Sentiment 

The Chainlink network has grown into a robust ecosystem bolstered by rising adoption by institutional investors. In the past few weeks, the Chainlink network announced 18 integrations across its services. Some of the notable recent Chainlink network interactions include with ApeChain, Avalanche, Base, BNB Chain, Celo, Ethereum, Gnosis Chain, Hemi, Lisk, MegaETH, Metal L2, Mint, Monad, Optimism, Polygon, Ronin, Soneium, Superseed, and Zora.

On Monday, Chainlink network welcomed Kamino Finance, a top-tier lending DeFi platform on the Solana (SOL) ecosystem with over $2 billion in total value locked (TVL). 

Consequently, the organic demand for LINK will continue to rise exponentially, and eventually trigger parabolic growth in the coming months.

The post Chainlink Price Analysis: $10 or $19 Next for LINK? appeared first on Coinpedia Fintech News
Chainlink price failed to breach a crucial resistance level above $15 in the recent mild crypto recovery. Chainlink adoption rate has gradually grown in the past months, possibly bolstering possible bullish sentiment. The wider altcoin market, including Chainlink (LINK), experienced low bullish sentiment on Monday, as Bitcoin (BTC) price got rejected again above $95k. More …