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Bitcoin is undergoing an unlikely Sunday Pump amid low trading volumes, hurtling toward the $120,000 mark. The surge comes amid reports of an imminent 90-day tariff truce between the US and China. Bitcoin Spikes To $119,000 As Global Crypto Market Cap Nears $4 Trillion CoinMarketCap data reveals that the Bitcoin price is in the green
The post Bitcoin Jumps Amid Reports Of 90-Day US-China Tariff Truce appeared first on CoinGape.
A blazing Oracle Red Bull Racing F1 car races past hundreds of millions of viewers around the globe, with the Gate.io logo standing out prominently on its body. At the same time, in the digital realm, millions of Web3 users are embarking on their WCTC S7 journey, an exhilarating race in the world of global crypto trading. This marks the first time the crypto industry has resonated with mainstream culture in such a dynamic and synchronized fashion.
For Gate.io, 2025 is both a significant milestone, celebrating its 12th anniversary and a starting line for the future. At this critical juncture, Gate.io has not only completed a comprehensive brand upgrade, officially adopting “Damen” (大门, meaning “The Gate”) as its Chinese name, but also refreshed its visual identity, ecosystem positioning, and global strategic direction.
In an even bolder move, it has partnered with the world-renowned Oracle Red Bull Racing in F1, marking a major milestone in its global cross-industry collaborations and unlocking massive influence on a global scale.
On the F1 circuit, Red Bull stands for more than championship performance and cutting-edge innovation. It has evolved beyond its origins as an energy drink brand, expanding into racing, extreme sports, music, and media—becoming a benchmark for diversified global brand operations. Among its many endeavors, the team is undoubtedly the crown jewel of its multi-faceted brand strategy.
Both Red Bull and Gate.io are breaking boundaries and pushing limits in their respective domains. Red Bull through adrenaline-fueled spectacles, and Gate.io through technology-driven platforms and community-driven innovation. Their collaboration goes beyond exposure; it is a shared commitment to serving a global, young, open, and engaged audience.
For Gate.io, the partnership represents more than a marketing opportunity, it’s a powerful manifestation of its diversified strategy and a profound alignment of brand values, ecosystem vision, and user identity. On the world’s fastest track, a veteran yet constantly evolving crypto trading platform is now using speed, technology, and cultural synergy to redefine the imaginative boundaries of the next mainstream Web3 gateway.
According to Gate.io Founder and CEO Lin Han, Red Bull embodies the very ecosystem Gate.io strives to build: “Gate.io is more than just a digital asset exchange. We are building an open, technology-driven, globally collaborative platform. This vision is deeply aligned with Red Bull’s spirit and philosophy.”
Behind the brand upgrade lies the synchronized evolution of Gate.io’s core businesses. The company has developed a multi-layered Web3 ecosystem that spans trading, wallets, public chains, educational platforms, and investment funds. From professional traders to developers, retail investors to institutional clients, Gate.io is attracting and empowering a broad user base with its expanding product offerings and increasingly sophisticated services.
According to its recently released Q1 2025 report, Gate.io’s ecosystem is growing rapidly, with key business lines showing robust momentum:
Meanwhile, Gate Wallet has built a comprehensive digital asset management solution supporting nearly 200 blockchains. Gate Connect facilitates transactions in 52 fiat currencies across 80 countries, offering more than 450 payment methods.
The newly launched Gate Card Silver virtual card, alongside the fast-growing Gate Community, is driving innovation through branded events, Gate Live interactive streams, Gate Post, Gate.io Chat Group, blogs, YouTube, TikTok, and other content channels. Through this multidimensional layout, Gate.io is constructing a diversified, full-spectrum Web3 ecosystem—a never-before-seen “user universe” is taking shape.
Partnering with Oracle Red Bull Racing in F1 marks Gate.io’s first global “accelerator” move following its brand upgrade and symbolizes a cross-industry exploration connecting crypto technology with mainstream culture. As a sponsor, Gate.io will appear at every F1 event throughout the season, with its logo shining on trackside screens around the world. More importantly, by leveraging Red Bull’s brand power, event visibility, and massive global fan base, Gate.io is opening a new “gate” for Web3 to enter the mainstream consciousness.
From rebranding and ecosystem expansion to entering the global spotlight of Red Bull Racing and its hundreds of millions of viewers, Gate.io is introducing the speed, warmth, and spirit of participation that defines Web3 in a bold new way. Looking ahead, Gate.io will continue deepening its diversified ecosystem strategy, forging connections across culture, content, and everyday life, creating a truly open, collaborative, and decentralized Web3 arena for users around the world. The gate is open, the future is accelerating. Let’s embark on the journey together.
Disclaimer: This content does not constitute an offer, solicitation, or recommendation. You should always seek independent professional advice before making investment decisions. Gate.io may restrict or prohibit certain services in specific jurisdictions. For more details, please read the User Agreement.
The post Gate.io x Oracle Red Bull Racing in F1: Co-Creating a New Web3 Brand Paradigm Through Speed and Transformation appeared first on BeInCrypto.
China’s recent directive for its state-owned banks to decrease reliance on the US dollar has amplified a growing trend among countries seeking alternatives to the dominant reserve assets. In some instances, Bitcoin has emerged as a viable competitor.
BeInCrypto spoke with experts from VanEck, CoinGecko, Gate.io, HashKey Research, and Humanity Protocol to understand Bitcoin’s rise as an alternative to the US dollar and its potential for greater influence in global geopolitics.
Since the 2008 global financial crisis, China has gradually reduced its reliance on the US dollar. The People’s Bank of China (PBOC) has now instructed state-owned banks to reduce dollar purchases amid the heightened trade war with US President Donald Trump.
China is among many nations seeking to lessen its dependence on the dollar. Russia, like its southern neighbor, has received an increasing number of Western sanctions– especially following its invasion of Ukraine.
The United States, the European Union, the United Kingdom, and other allies imposed unprecedented international sanctions on Russia, targeting its central bank and major financial institutions and restricting access to the Society for Worldwide Interbank Financial Telecommunication (SWIFT) for some financial institutions.
In response, Russia halted trading of US dollars and euros on the Moscow Stock Exchange (MOEX). Recently, BeInCrypto also reported that Russia has been quietly using Bitcoin for international trade to bypass sanctions.
Furthermore, Rosneft, a major Russian commodities producer, has issued RMB-denominated bonds, indicating a shift towards RBM, the Chinese currency, and a move away from Western currencies due to sanctions.
This global shift away from predominant reserve currencies is not limited to countries affected by Western sanctions. Aiming to increase the Rupee’s international use, India has secured agreements for oil purchases in Indian Rupee (INR) and trade with Malaysia in INR.
The country has also pursued creating a local currency settlement system with nine other central banks.
As more nations consider alternatives to the US dollar’s dominance, Bitcoin has emerged as a functional monetary tool that can serve as an alternative reserve asset.
Interest in using cryptocurrency for purposes beyond international trade has also grown. In a notable development, China and Russia have reportedly settled some energy transactions using Bitcoin and other digital assets.
“Sovereign adoption of Bitcoin is accelerating this year as demand grows for neutral payments rails that can circumvent USD sanctions,” Matthew Sigel, Head of Digital Assets Research at VanEck, told BeInCrypto.
Two weeks ago, France’s Minister of Digital Affairs proposed using the surplus production of EDF, the country’s state-owned energy giant, to mine Bitcoin.
Last week, Pakistan announced similar plans to allocate part of its surplus electricity to Bitcoin mining and AI data centers.
Meanwhile, on April 10, New Hampshire’s House passed HB302, a Bitcoin reserve bill, by a 192-179 vote, sending it to the Senate. This development makes New Hampshire the fourth state, after Arizona, Texas, and Oklahoma, to have such a bill pass a legislative chamber.
If HB302 is approved by the Senate and signed into law, the state treasurer could invest up to 10% of the general fund and other authorized funds in precious metals and specific digital assets like Bitcoin.
According to industry experts, this is only the beginning.
Sigel predicts Bitcoin will become a key medium of exchange by 2025 and, ultimately, one of the world’s reserve currencies.
His forecasts suggest Bitcoin could settle 10% of global international trade and 5% of global domestic trade. This scenario would lead to central banks holding 2.5% of their assets in BTC.
According to him, China’s recent de-dollarization will prompt other nations to follow suit and lessen their reliance on the US dollar.
“China’s de-dollarization efforts are already having second- and third-order effects that create opportunities for alternative assets like Bitcoin. When the world’s second-largest economy actively reduces its exposure to US Treasuries and promotes cross-border trade in yuan or through mechanisms like the mBridge project, it signals to other nations—especially those with strained ties to the West—that the dollar is no longer the only game in town,” Sigel said.
For Zhong Yang Chan, Head of Research at CoinGecko, these efforts could prove catastrophic for the United States’ dominance.
“Broader de-dollarization efforts by China, or other major economies, will threaten the status of the dollar’s global reserve currency status. This could have [a] profound impact on the US and its economy, as this would lead to nations reducing their holdings of US treasuries, which the US relies on to finance its national debt,” he told BeInCrypto.
However, the strength of the US dollar and other dominant currencies has already shown signs of weakening.
Sigel’s research shows that the four strongest global currencies—the US dollar, Japanese yen, British pound, and European euro—have lost value over time, particularly in cross-border payments.
The decline of these currencies creates a void where Bitcoin can gain traction as a key alternative for international trade settlements.
“This shift isn’t purely about promoting the yuan. It’s also about minimizing vulnerability to US sanctions and the politicization of payment rails like SWIFT. That opens the door for neutral, non-sovereign assets—especially those that are digitally native, decentralized, and liquid,” Sigel added.
This lack of national allegiance also sets Bitcoin apart from traditional currencies.
Unlike fiat money or central bank digital currencies (CBDCs), Bitcoin doesn’t respond to any one nation, which makes it appealing to some countries.
For Terence Kwok, CEO and Founder of Humanity Protocol, recent geopolitical tensions have heightened this belief.
“Trust in traditional financial infrastructure is eroded during geopolitical standoffs. Bitcoin, with its transparent ledger and decentralized governance, offers a compelling alternative for value storage and peer-to-peer settlement, especially where neutral, non-sovereign options are preferable. In that sense, geopolitical tension can inadvertently catalyze innovation and adoption in decentralized finance,” Kwok told BeInCrypto.
Because Bitcoin’s supply is limited, it provides a more secure option for nations whose local currency loses value through inflation.
“Bitcoin, due to its scarcity and decentralized nature, is completely different from the centralized fiat currency system and is not affected by changes in monetary policy. Therefore, it can be used as a hedging tool to cope with the depreciation of fiat currencies or geopolitical risks. Especially in the context of rising inflation or challenges to the dominance of the US dollar, allocating some Bitcoin can help diversify investment risks and provide investors with more robust asset protection,” Kevin Guo, Director of HashKey Research, added to the conversation.
For these same reasons, experts don’t expect Bitcoin to replace fiat currencies fully but rather provide a vital alternative for certain cases.
While Bitcoin offers several advantages over traditional currencies, Gate.io’s Kevin Lee doesn’t foresee its eventual adoption causing a complete overhaul of the currency reserve system.
“Bitcoin is increasingly being recognized for its unique technological characteristics, such as fixed supply, decentralized governance, and borderless accessibility. However, I don’t believe it is meant to replace [the] traditional fiat system, but rather an alternative to it for various business use cases, particularly for diversification and long-term value preservation strategies,” Lee told BeInCrypto.
Guo agreed with this last point, adding that Bitcoin will be more appealing case-by-case.
“Countries may selectively adopt Bitcoin based on their own economic needs, but its application areas are mainly concentrated in niche markets such as cross-border remittances, circumventing sanctions, and hedging inflation,” he said.
Bitcoin must first address several of its shortcomings before it can become truly competitive in the long run.
Due to its relatively new status and lack of full development, Bitcoin suffers from shortcomings that prevent mass adoption.
“As with any emerging asset class, Bitcoin faces inherent challenges, including market volatility, evolving regulatory frameworks, infrastructure maturity, and cyclical hypes. These factors may impact its short-term adoption pace,” Lee explained.
To that point, Kwok added:
“Bitcoin’s price swings make it less viable for day-to-day transactions or as a primary reserve asset today. Furthermore, if major powers enforce strict capital controls or implement hostile crypto policies, it could slow down adoption despite broader macro trends in its favor.”
Meanwhile, there’s the competitive advantage of stablecoins, which currently dominate cross-border payments.
“Crypto assets represented by US dollar stablecoins (such as USDT and USDC) are rapidly occupying the main market of cross-border payments and blockchain transactions. Stablecoins have low volatility due to their peg (mostly to the US dollar), making them the preferred tool for international transactions and fund transfers, while Bitcoin is more often used as a store of value or speculative asset,” Guo, Director of HashKey Research told BeInCrypto.
The Bitcoin network has also experienced problems that have exacerbated global demand.
Since the beginning of the year, Bitcoin has experienced a significant slowdown in network activity, despite the asset’s bullish performance.
“The usage rate of the Bitcoin network is declining, and its on-chain transaction fees have dropped to the lowest point since 2012, indicating that network activity is gradually decreasing,” Guo said.
Recent data confirms this. The number of Bitcoin transactions has fallen significantly since the last quarter of 2024. Bitcoin registered over 610,684 transactions in November, but that number dropped to 376,369 in April, according to Glassnode data.
The number of Bitcoin active addresses paints a similar picture. In December, the network had nearly 891,623 addresses. Today, that number stands at 609,614.
This decline suggests reduced demand for its blockchain in terms of transactions, usage, and adoption, meaning fewer people are actively using it for transfers, business, or Bitcoin-based applications.
Meanwhile, the Bitcoin network must also ensure its infrastructure is efficient enough to meet global demand.
In 2018, Lightning Labs launched the Lightning Network to reduce the cost and time required for cryptocurrency transactions. Currently, the Bitcoin network can only handle around seven transactions per second, while Visa, for example, handles around 65,000.
“If expansion solutions (such as the Lightning Network) fail to become popular, Bitcoin’s ability to process only about 7 transactions per second will be difficult to support global demand. At the same time, as Bitcoin block rewards are gradually halved, the decline in miners’ income may threaten the long-term security of the network,” Guo, Director of HashKey Research explained.
While the confluence of geopolitical shifts and Bitcoin’s inherent characteristics undeniably create a space for its increased adoption as an alternative to the US dollar and even a potential reserve asset, significant hurdles remain.
Achieving mainstream Bitcoin adoption hinges on overcoming scalability, volatility, regulatory hurdles, stablecoin competition, and ensuring network security.
The unfolding panorama suggests Bitcoin will carve out an important role in the global financial system, though a complete overhaul of established norms seems unlikely in the immediate future.
The post VanEck: Bitcoin Can Settle 10% of Global Trade Amid China’s De-Dollarization appeared first on BeInCrypto.
A crypto whale’s recent decision to hoard $110 million in Bitcoin & Ethereum has rattled the broader crypto market amid a bullish trend brewing lately. On Monday, April 28, whale metrics by a tracker signaled that roughly $56 million worth of BTC and $54 million worth of ETH was acquired by an OTC exchange intraday. In response, traders and investors eye sustained price gains in the cryptos, whilst the flagship coin is already up over 7% weekly, and Ether is up nearly 9% in the same duration.
Lookonchain’s latest X post revealed that a crypto whale has seemingly purchased $110 million in Bitcoin & Ether via separate addresses. As per the data, this whale stacked up 600 BTC, worth $56.7 million, via the OTC exchange Wintermute.
Furthermore, the whale used another address to purchase 30,000 ETH, worth $54 million, via the same OTC exchange. The endgame? This massive buying, underscoring rising market interest and buying pressure on the assets, has ignited optimistic speculations about prices amid a broader bullish landscape.
Notably, BTC price is up over 7% in the past seven days and is currently sitting at the $94K level. On the other hand, even Ethereum’s price surged over 9% in the past 7 days, closing in at the $1,800 level. These broader rising price trajectories have solidified investors’ hope for a bull run in the pipeline when coupled with the massive crypto whale accumulation.
Besides, renowned market analyst Ali Martinez has recently revealed that roughly 100 new entities holding over 1000 Bitcoins have joined the network since January. This data has further propelled bullish sentiments, underscoring rising market interaction with the flagship crypto in tandem with the massive whale accumulation.
Even the BTC accumulation trend score started to approach 1, suggesting intense accumulations and strong holder conviction for the coin across the sector. The direct response to these bullish dynamics is that market watchers are now eyeing phenomenal price gains ahead.
On the other hand, CoinGape reported the previous week that crypto whales bagged ETH worth $100 million, ushering in similar bullish sentiments of a price rally ahead.
The post Crypto Whale Bets $110M In Bitcoin And Ethereum: Details appeared first on CoinGape.