The European Union is rolling out strict new Anti-Money Laundering rules that will ban privacy coins and anonymous crypto accounts starting in 2027. Under the AML Regulation (AMLR), banks, financial firms, and crypto service providers will no longer be allowed to offer or support anonymous accounts or privacy-focused cryptocurrencies like Monero and Zcash. The move aims to increase transparency and combat illicit activities in the digital asset space across all member states.
Crypto markets started the week with a bullish tone on Monday, with Bitcoin trading above $94,000. Bitcoin is increasingly gaining recognition as a safe asset, similar to gold or the US dollar. NYDIG Research pointed out that Bitcoin is shifting from a speculative investment to a reliable store of value, especially after the introduction of US trade tariffs.
XRP Leads Major Altcoin Gains
Coming to altcoins, XRP led the major gains, rising almost 8%, driven by the approval of a ProShares ETF, which will see three futures-tracked products go live on April 30. Cardano’s ADA gained more than 3%, while BNB Chain’s BNB added just 1%. Ether remained neutral. Solana was also up over 1%, while SUI made gains of over 4% in the past day.
When Will Altcoins Rally? Analysts Share Predictions
Arthur Hayes, in a recent blog post, shared that he expects altcoins to start gaining momentum once Bitcoin breaks its previous all-time high of $110,000; it could surge further, potentially nearing $200,000. However, he warned that not all altcoins will perform well during the potential altcoin season.
Analyst Moustache believes that the biggest part of the altcoin rally is yet to come. He thinks the worst is now over and expects many green candles going forward. Crypto Rover highlighted that altcoins are breaking out of a 140-day downtrend. He noted that this could signal the start of a massive utility season ahead.
Analyst Wimar.X predicts that the biggest altcoin season in history is about to begin, with altcoins forming a triple-bottom pattern, hinting at a potential parabolic rally. He expects that the total altcoin market cap could reach $15 trillion during this cycle, although such predictions come with significant risks due to the volatile nature of crypto markets.
Bitcoin is currently the dominant force in the market, holding 63.4% of the total market share. Altcoins are struggling, with their overall market strength at just 18 according to CoinMarketCap’s Altcoin Index. This suggests that Bitcoin is leading the market, and an altcoin rally may still be far away.
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Crypto markets started the week with a bullish tone on Monday, with Bitcoin trading above $94,000. Bitcoin is increasingly gaining recognition as a safe asset, similar to gold or the US dollar. NYDIG Research pointed out that Bitcoin is shifting from a speculative investment to a reliable store of value, especially after the introduction of …
The renowned PolitiFi token TRUMP coin has recently seen a surge in price and investor activity, emerging as a hot buzz within the crypto market amid Donald Trump’s dinner invitation to its holders. However, a peculiar dumping spree taken on by the meme token’s team has sparked concerns market-wide lately.
On-chain statistics indicated that the team offloaded $20 million worth of tokens to crypto exchanges on April 29. Meanwhile, in an unprecedented plot twist, Democratic senators pushed for an inquiry into the upcoming dinner for token holders, which appears to have solidified concerns amid the massive dump.
TRUMP Coin Team Offloads $20M To Crypto Exchanges
Lookonchain’s X post on April 29 revealed that a wallet linked to the TRUMP coin team has deposited a whopping $19.6 million worth of tokens to the crypto exchange behemoths Binance, OKX, and Bybit.
As per the data, 700,000 tokens worth $10.21 million were dumped to Binance. Whereas, 350,000 and 296,000 tokens were offloaded to the CEXs OKX and Bybit, respectively.
Source: Lookonchain, X
Primarily, the massive deposits highlighted above indicate that the token supply on exchanges rose considerably. In response, market watchers eye the dumps with some caution, whereas the recent probe into Donald Trump’s upcoming dinner has rung further alarms.
Democrats Push For Inquiry Into The Upcoming Dinner
U.S. Sen Adam B. Schiff and Elizabeth Schiff have recently called for an inquiry into the upcoming Donald Trump dinner for top investors in his PolitiFi token. Notably, the Senators have requested U.S. Office of Government Ethics Director Jamieson Greer to launch a probe into the matter.
“We write to request an urgent inquiry regarding President Trump’s invitation for top investors in his meme coin, $TRUMP, to join him at an intimate private dinner and private VIP reception, which led to a subsequent surge in investment in the President’s digital asset that increased its value by approximately $100 million,” Schiff & Warren wrote in their filing.
The dinner for the top 220 investors in the PolitiFi token will occur on May 22, 2025. Intriguingly, CoinGape reported that market watchers believe TRON founder Justin Sun is attending this dinner, among many other renowned personalities.
Meanwhile, the PolitiFi token’s price traded at $13.95 at the time of reporting, extending weekly gains to nearly 70% amid the President’s dinner buzz. However, despite the rising price action, a TRUMP coin price prediction by CoinGape revealed that bears remain dominant on the token, per the 3-month bias indicator.
Additionally, investors’ apprehension took a further hit as Coinglass data showed an 8% drop in the token’s futures OI to $734 million. Further, even the derivatives market volume saw a 13% decline in value to $2.70 billion. Traders and investors are now left speculating over future price actions amid uncertain market dynamics and soaring optimism in light of the upcoming dinner.
The US Securities and Exchange Commission (SEC) is set to decide on the proposed spot Litecoin (LTC) exchange-traded fund (ETF) by Canary Capital on May 5.
Meanwhile, market watchers have grown increasingly optimistic. Approval odds have surged to their highest point on Polymarket since mid-March.
However, the SEC opted to extend this period by 45 days, designating May 5 as the new 90-day deadline.
“Accordingly, the Commission, pursuant to Section 19(b)(2) of the Act, 6 designates May 5, 2025, as the date by which the Commission shall either approve or disapprove, or institute proceedings to determine whether to disapprove, the proposed rule change (File No. SR-NASDAQ-2025-005),” the statement read.
Similarly, Grayscale’s application to convert its Polkadot (DOT) Trust into an ETF was also delayed. The new decision deadline is June 11.
However, the SEC’s decision not to delay the Litecoin ETF beyond the 90-day deadline has drawn significant attention from the community. Bloomberg’s ETF analyst James Seyffart highlighted this in a recent post on X (formerly Twitter).
“SEC went early and delayed a bunch of filings but not this,” Seyffart wrote.
On the prediction platform Polymarket, approval odds surged to 79%, the highest since mid-March. Additionally, the odds for approval by July saw a boost, rising to 49%.
Litecoin ETF Approval Odds in 2025. Source: Polymarket
A decision in favor of the ETF could pave the way for broader adoption of Litecoin, often regarded as a lighter, faster alternative to Bitcoin. Conversely, disapproval or further delay could signal continued regulatory hesitation in the crypto space. As the clock ticks, all eyes remain on the SEC’s next move.
