The legal battle between Ripple and the U.S. Securities and Exchange Commission (SEC) was one of the longest and most talked-about crypto cases in recent years. In April 2024, Ripple CEO Brad Garlinghouse said the SEC had agreed to drop the case — just like it had done with other crypto companies.
However, unlike those other cases, the SEC has not officially confirmed that it is ending the Ripple lawsuit. Even so, many in the XRP community are already celebrating, thinking the case is over.
But a pro-XRP lawyer warned that it’s not finished yet. He explained that some legal steps still need to happen in court before it’s truly done.
Ripple’s Chief Legal Officer, Stuart Alderoty, spoke out recently, asking why the SEC brought the case in the first place. He said the SEC has now dropped every crypto case in the U.S., including its appeal against Ripple.
Alderoty explained that the SEC admitted it couldn’t take legal action without first clearly explaining the rules around crypto. Since there were no clear laws for crypto in the U.S., the SEC’s cases didn’t hold up.
Now, Ripple wants to move forward — focusing on business, working with Congress, and helping create fair rules for crypto. Their goal is to protect consumers, keep out bad actors, and support innovation in the industry.
In other news, Ripple has announced that it will stop publishing its regular quarterly reports on XRP. The company said it made this decision because the SEC used Ripple’s transparency efforts against it during their legal battle.
In its Q1 2025 market report, Ripple explained that it started the reports to be open about its XRP holdings and to share information that few other crypto companies were offering. However, Ripple now says those efforts didn’t work as planned and were actually turned against them — especially by former SEC leaders.
Decentralized perpetual exchange (DEX) Hyperliquid (HYPE) has reached a significant milestone, surpassing $1 trillion in total perpetual contract (perps) trading volume.
This achievement comes despite a broader market downturn, where major sectors have posted losses. While there has been slight growth today, it remains minimal, highlighting the market’s challenges.
Hyperliquid Dominates Perps Market
According to data from DeFiLlama, Hyperliquid perps’ cumulative trading volume has surged to $1.1 trillion. This rise in activity highlights its growing appeal among traders.
Besides its market dominance, Hyperliquid has made headlines for being central to a major development. As BeInCrypto reported, the platform gained widespread attention after a whale trader opened a 40x leverage BTC short position worth $423 million, triggering a “whale hunt.”
Nonetheless, the developments have not done much for the platform’s native token, HYPE. Instead, it has been underperforming, maintaining a consistent downtrend.
Over the past day, it has depreciated by 3.4%. At press time, it traded at $12.9, marking lows not seen since December 2024. Moreover, the platform has faced increased scrutiny following concerns about potential money laundering.
Analyst Forecasts: Will HYPE Reach $100?
Despite these struggles, an analyst predicted that HYPE could reach $50-$100, citing its status as the leading crypto DEX and its high-throughput Layer 1 blockchain.
In the latest X (formerly Twitter), he highlighted Hyperliquid’s impressive growth. The platform averages $6.7 billion in daily volume, a significant increase from $1.1 billion in October. This surge has increased its market share relative to Binance, jumping from 2% to 9% in just six months.
“If Hyperliquid can maintain just a fraction of its growth rate, we could see it reach ~20% of Binance’s volumes by the end of the year,” the post read.
Hyperliquid Growth Compared to Binance. Source: X/Duncan
According to the analyst, this expansion could significantly boost the HYPE token’s valuation.
“If Hyperliquid is able to reach 20% of Binance’s volume, I think we could easily see $40-50 HYPE with the uptick in earnings and a slight multiple expansion,” he said.
He also highlighted several factors that could fuel Hyperliquid’s continued success. The recent addition of native spot Bitcoin (BTC) trading, coin margin functionality, and the possibility of launching a delta-neutral stablecoin are seen as major catalysts for future growth.
Another key development is the evolution of Hyperliquid’s Layer 1 blockchain ecosystem. The platform has attracted over 50 projects and holds over $2.3 billion in USDC and BTC deposits.
The analyst added that Hyperliquid has a strong potential to establish itself as the third most used blockchain, following Ethereum (ETH) and Solana (SOL), within the next few years.
“Given ETH and SOL are worth $230 billion and $75 billion, respectively what does that make Hyperliquid’s potential L1 valuation? Even at 15-25% of ETH or SOL, that adds another $10-50 to the token price. $50 for the perps/spot/stablecoin product + another $50 for the L1 and $100 HYPE seems possible,” he predicted.
Pi Network has faced a significant setback recently, registering one of the few declines among the top tokens. Currently, Pi is trading at $0.6077, reflecting a 15% drop over the past month.
This poor performance has left many investors questioning its future, especially as it struggles to show signs of improvement.
Pi Network Needs To Note Inflows
Despite the decline, the Chaikin Money Flow (CMF) indicator reveals that Pi Network has observed some inflows. However, this increase is still stuck in the negative zone, under the zero line. This suggests that while there are occasional inflows, the outflows remain dominant, keeping the altcoin subdued.
The negative CMF reading indicates that selling pressure still largely controls the altcoin price movement. Even though there is some positive market activity, it is not enough to overcome the dominant outflows.
The lack of support from investors is driven by fundamental issues with Pi Network, which Alvin Kan, COO, Bitget Wallet, agreed with, responding to BeInCrypto.
“Pi Network’s initial surge was largely driven by anticipation and years of community mining, but the follow-through has been more muted. As early users began realizing gains, increased token supply met limited exchange listings and a still-developing ecosystem. Without strong utility or broader liquidity, investor demand naturally tapered off. Like many new tokens, Pi is now facing the challenge of transitioning from early hype to long-term value delivery,” Kan told BeInCrypto.
Pi Network’s correlation with Bitcoin is also a point of concern. Currently, Pi shares a correlation of -0.11 with Bitcoin, indicating an inverse relationship. This means that whenever Bitcoin experiences upward momentum, Pi tends to face declines.
With Bitcoin nearing $100,000, Pi Network could struggle to capitalize on Bitcoin’s potential gains, potentially facing further corrections.
Given Bitcoin’s strength, Pi may continue to decline, as its price typically moves in the opposite direction of Bitcoin’s rise. This inverse correlation suggests that even if Bitcoin reaches new highs, PI might not benefit from the broader market rally. Instead, it could face additional downward pressure.
Pi Network Correlation To Bitcoin. Source: TradingView
PI Price Needs A Strong Reversal
Pi Network’s price has dropped 15% over the last month, currently sitting at $0.6077. The decline in price, especially after the high expectations surrounding the token, has caused frustration among investors. As the selling pressure mounts, it appears that more investors are pulling their money out of Pi, resulting in ongoing losses for the token.
If this trend continues and Bitcoin’s price continues to rise, the altcoin could experience a further drop. The negative correlation with Bitcoin could result in Pi falling through the $0.6077 support level and heading toward the $0.5192 support. If the trend persists, the altcoin may approach its all-time low of $0.4000, further deepening its losses.
Thus, staying on alert is the best option for any investor.
While the novelty of Pi Network’s minting on the mobile device took off strongly, it did not stick around for long, impacting the price as a result.
“Pi Network’s mobile mining and referral model helped it build a massive user base, but also invited skepticism around sustainability. While the project clarifies that it doesn’t follow a multi-level structure, concerns persist over perceived lack of transparency and real-world use cases. To move past the debate, the focus will need to shift toward building credible utility and expanding access. If that happens, sentiment could recover—but trust takes time,” Kan told BeInCrypto.
However, if market conditions improve and investor sentiment shifts, Pi Network may have a chance at recovery. A breach of the $0.8727 resistance, followed by flipping it into support, could signal a reversal. This would set Pi on a path toward $1.0000, invalidating the current bearish outlook and setting the stage for potential growth.
Bitcoin price forecast on Thursday May 1 reflects cautious optimism as BTC fails $96,000 breakout out test for the third day running.
Bitcoin stalls at $95,500 as resistance holds for third day
Bitcoin (BTC) faced firm resistance at the $96,000 mark on Wednesday, halting its short-term rally and confirming a sell-wall at $95,500 for the third consecutive session. The asset continues to oscillate near its all-time highs but has struggled to post a decisive breakout this week.
Market participants have been eyeing a sustained move above $96,000 as a trigger for renewed bullish momentum, but waning volume and macroeconomic caution have weighed down BTC price action.
Bitcoin price action | Coingecko
As of Wednesday’s close, BTC had posted a modest 0.4% gain over 24 hours and was up 0.7% on the week, according to CoinGecko. The global cryptocurrency market cap held at $3.04 trillion, reflecting a 2.8% daily gain, but much of the momentum remains concentrated in Bitcoin and Ethereum.
BTC dominance stands near 62%, as altcoins lag after the US SEC delayed verdicts on ETF filings till June.
BlackRock moves to tokenize $150B Treasury Fund via blockchain infrastructure
BlackRock has filed with the U.S. Securities and Exchange Commission (SEC) to create a blockchain-enabled digital share class for its $150 billion Institutional U.S. Treasury Money Market Fund. The new share class, named DLT Shares, aims to implement blockchain technology for recordkeeping and real-time ownership tracking on a distributed ledger.
BlackRock launched $150B Money Market Fund | April 28, 2025 | Source: SEC.gov
According to the filing, the fund will not use blockchain for managing portfolios or holding cryptocurrencies. Instead, DLT Shares will be structured to mirror existing shares while utilizing blockchain to improve settlement transparency and reduce administrative friction. The offering will be limited to institutional investors, with a minimum investment threshold set at $3 million.
BNY Mellon has been named as the primary infrastructure partner, responsible for integrating and maintaining the blockchain-based recordkeeping system. This development marks a significant step in the financial industry’s incremental adoption of blockchain—not through digital assets, but through tokenized infrastructure that supports legacy systems.
Although the product does not involve crypto exposure, its implications for market sentiment are far-reaching. Institutional adoption of blockchain-enabled infrastructure could legitimize the broader crypto ecosystem, offering tailwinds to assets like Bitcoin through narrative alignment and technological validation.
Looking Ahead: How will Blackrock’s $150B fund impact BTC price
The short-term outlook for Bitcoin remains cautiously optimistic, contingent on a clean break above the $96,000 resistance. BlackRock’s move to incorporate blockchain in one of its largest funds is likely to resonate positively among institutional investors and digital asset stakeholders—even in the absence of direct crypto exposure.
If BTC maintains support above $94,000 and manages a high-volume breakout past $96,000, the $100,000 target could come into play in the coming weeks. In the absence of major macroeconomic shocks or regulatory headwinds, blockchain adoption by traditional finance giants like BlackRock may provide a subtle but powerful bullish undertone.
Bitcoin price traded at $94,280 at press time after printing a narrow-bodied candle, extending its consolidation just below the $95,500 resistance. Price action over the past five sessions reveals a firm ceiling just under $96,000, where sell-side pressure continues to reject upside attempts.
Notably, Bitcoin remains within the upper range of the Keltner Channel bands, with the upper envelope at $95,414 now acting as the immediate upside threshold. A breakout and close above this level could trigger fresh momentum toward the $98,000–$100,000 range.
Bitcoin price forecast today leans bullish, supported by the relative strength index (RSI), which prints at 88.35—firmly in overbought territory. Historically, an RSI above 85 reflects sustained buying interest rather than an imminent reversal, especially when accompanied by stable or rising volumes, as seen here. The RSI moving average (RSI MA) below at 76.60 offers a lagging but firm bullish signal. Volume, while modest at 185 BTC, has been consistent, showing no signs of a selloff panic.
If Bitcoin price rejects the $95,400 upper KC band again, a corrective pullback to the $90,500 midline could be on the cards.
