The Ethereum ecosystem has been buzzing with remarkable developments in the recent past amid rising altseason reckoning.
Ether price is well positioned to rally towards its ATH in the coming weeks.
Ethereum (ETH) price rallied over 8 percent in the past 24 hours to reach a daily and local high of about $2,702. The large-cap altcoin, with a fully diluted valuation of about $322 billion and a 24-hour average traded volume of around $31 billion, established a bullish sentiment following last week’s 40 percent uproar.
Major Forces Behind Ethereum Price Pump Today
BullishCatalyst from Pectra Upgrade
The recent mainnet launch of the Pectra upgrade has helped the Ethereum network become more competitive to other layer one (L1) chains, led by Solana (SOL). Moreover, the Pectra upgrade enhanced Ethereum scalability and efficiency, which is a key consideration by most institutional investors seeking to build and invest in the web3 space.
Lower U.S. Inflation Amid Geo-economic Slowdown
Earlier on Tuesday, the U.S. Bureau of Labor Statistics announced the country’s inflation dropped by 2.3 percent YoY in April. Amid the ongoing global trade negotiations led by the United States, the cryptocurrency market, led by Bitcoin, has emerged as an alternative investment to more institutional investors.
Organic Spot Market Demand from Institutional Investors
As the altcoins gradually gain ground over Bitcoin dominance, the overall demand for Ether by institutional investors has significantly surged. Notably, Ethereum’s Futures Open Interest (OI) surged by over 12 percent in the last 24 hours to hover about $32 billion on Tuesday, during the late North American trading session.
Short Squeeze Impact
Following the sudden Ethereum rebound in the past few days, a significant surge in short liquidation was recorded. In the past 24 hours, Ether’s leveraged market recorded more than $145 million in forced liquidations, with over $107 million involving short liquidations.
As a result, the odds of a short squeeze have significantly surged in the past few days.
What Next for Ether
As Bitcoin price attempts to rally beyond $105k, the wider altcoin market has experienced a significant surge in bullish sentiment. Moreover, the Ethereum fear and greed index surged to over 75 percent on Tuesday, signaling more bullish investors.
From a technical analysis standpoint, Ether’s price is well-positioned to retest its all-time high in the near future. In the weekly timeframe, the MACD line has crossed the signal line for the first time YTD. Most importantly, Ether price has regained the macro support level above $2,360 after a notable correction in the first quarter.
An early Bitcoin investor has resurfaced after nearly a decade of inactivity, drawing attention across the crypto space.
On March 22, the Bitcoin whale transferred 3,000 BTC—worth over $250 million at the time of the move. A Bitcoin whale is an individual or entity that holds more than 1000 BTC.
Why is the Bitcoin Whale Active After 8 Years?
According to Arkham, the Bitcoin whale’s wallet dates back to late 2016, when Bitcoin was trading below $1,000.
The investor’s original stake—estimated at around $3 million—has since grown into a massive fortune, reflecting the asset’s long-term potential.
During this holding period, Bitcoin hit an all-time high of almost $110,000 in January 2025. Though the price has since pulled back to around $84,274, the whale’s ROI remains staggering.
The motive behind the transfer remains unclear. However, analysts noted that the funds were moved to another wallet—not an exchange—indicating the holder may be restructuring rather than preparing to sell.
This detail appears to have calmed fears of a market dump. BeInCrypto data shows that the broader crypto market has stayed stable despite the whale’s activity. Bitcoin and other top assets have shown little price volatility in response.
Meanwhile, this transfer is not an isolated case. Over the past year, several long-dormant wallets have shown signs of activity.
Some analysts believe early holders are reassessing their positions as Bitcoin trades near historic highs. Others suggest these investors may be preparing for more complex strategies involving futures or options.
Nevertheless, this case reinforces Bitcoin’s reputation as a long-term store of value. The whale’s decision to hold for nearly a decade shows how the asset has outperformed traditional stores of wealth like gold and the US dollar.
Welcome to the US Crypto News Morning Briefing—your essential rundown of the most important developments in crypto for the day ahead.
Grab a coffee for an intriguing dive into what experts say about growing stablecoin adoption. With dollar-pegged digital assets demonstrating significant growth, the threat is real, enough for the US Treasury to take notice.
Crypto News of the Day: Stablecoin Market To Reach $2 Trillion by 2028, US Treasury Projects
In its Q1 2025 report, the US Treasury Borrowing Advisory Committee (TBAC) projected that stablecoins could attain a market capitalization of $2 trillion by 2028.
“Evolving market dynamics, structures, and incentives have the potential to accelerate stablecoins’ trajectory to reach ~$2 trillion in market cap by 2028,” read an excerpt in the report.
As BeInCrypto reported, this would constitute a eightfold increase from its current level of approximately $234 billion, with USD-pegged stablecoins dominating (99%) the market.
MEXC exchange COO Tracy Jin agrees, adding that the milestone may be achieved as soon as 2026.
The US Treasury acknowledged that stablecoin issuers would be required to hold [short-dated] T-bills under new regulations. They said this would strengthen the correlation between US Treasury bill demand and stablecoin adoption.
Current state of the stablecoin market. Source: US Treasury
However, the US Treasury also pointed out that stablecoin growth could compel retail banks to pay higher interest rates to depositors.
Against this backdrop, BeInCrypto contacted Max Keiser, who warned about the growing stablecoin market. The Bitcoin pioneer suggested it could exacerbate US debt levels and undermine the dollar’s value.
“Stablecoins are a financial hospice where fiat money like the US dollar goes to die,” Keiser told BeInCrypto.
Keiser argued that increased stablecoin usage dilutes the dollar’s value. In his opinion, the expansion and growth of stablecoin usage will eventually “work the US dollar to death.”
Can Stablecoins Supplant the US Dollar’s Reign? Standard Chartered Weighs In
Keiser linked the rise of stablecoins to increasing national debt, countering political promises of debt reduction.
“It also means that US indebtedness goes up, not down, as Trump has promised,” he added.
BeInCrypto also contacted Standard Chartered Head of Digital Assets Research Geoff Kendrick, who noted the Treasury’s adoption of their $2 trillion stablecoin forecast.
“US Treasury is using our $2 trillion stablecoin forecast for their own projection, as per this TBAC Presentation. The tail is really wagging the dog now,” Kendrick told BeInCrypto.
Kendrick anticipates a surge in stablecoin issuance following upcoming US legislation. While he agrees with the US Treasury’s forecast, there is a caveat, with Kendrick citing implications for the US Treasury bill (T-bill) market.
“Specifically, I think stablecoins will go from $230 billion to $2 trillion by the end of 2028. That growth will require an extra $1.6 trillion of US T-bills to be held as reserves, and that is all of the planned new T-bill issuance over that period,” he added.
Meanwhile, amidst these projects, Tether, the issuer of the world’s largest stablecoin USDT, is considering launching a US-only stablecoin by late 2025 or early 2026.
“We are just exporters of what we believe to be the best product the United States ever created — that is, the US dollar,” Ardoino said in an interview.
With growing stablecoin adoption expected to give more legitimacy to crypto, Bitcoin (BTC) could benefit from the resultant liquidity. Institutional investors are already pivoting to crypto over traditional assets, as a recent US Crypto News publication indicates.
Chart of the Day
USDT stablecoin market cap vs. USD in circulation. Source: TradingView
The chart shows the market cap of USDT (blue), which accounts for over 60% of the total stablecoin market cap. It has grown significantly since November 2023 compared to the Federal Reserve’s currency in circulation (red), which remains almost flat.
This illustrates the rapid rise of stablecoins relative to the US dollar, highlighting their increasing dominance in the market.
Here’s a summary of more crypto news to follow today:
Bitcoin worth $61 billion nears profitability as early bull signs appear. BTC price shows signs of recovery, with the MVRV ratio bouncing off a historically strong level, signaling potential early bull market conditions.
Base surpasses Arbitrum as the largest Ethereum Layer-2 after a transition from Stage 0 to reach Stage 1 level maturity.
India’s New Income Tax Bill, proposed in 2025, has raised serious concerns about digital privacy. If passed, the bill would allow tax officials to access individuals’ emails, social media, and trading accounts starting from April 1, 2026. The government claims this measure is necessary to curb tax evasion, but many are worried about potential misuse and privacy violations.
Digital Locks No Longer Safe
Currently, tax officials do not have direct authority to check digital records, which has led to legal confusion. The new bill seeks to remove these uncertainties by officially granting them the power to access:
Email servers
Online banking and investment platforms
Social media accounts
Digital storage and applications
Beginning April 1, 2026, tax officers will have the legal right to investigate a person’s digital presence if they suspect tax evasion.
This means they could check emails, social media activities, bank accounts, trading records, and even personal messages to look for undisclosed income, gold, jewelry, or other valuable assets on which taxes have not been paid.
What does the Law say?
Under the current Income Tax Act, of 1961, officials can enter properties and seize documents if they believe someone is hiding financial details. The new bill takes this a step further by giving them access to digital records.
This means tax officers could check personal messages, emails, and online accounts if they think someone is evading taxes. While the government insists these powers will only be used in serious cases, many people worry about the lack of clear rules.
A Threat to Digital Freedom?
While the bill aims to improve tax compliance, legal experts and privacy advocates worry it could lead to excessive government surveillance. They argue that without proper safeguards, authorities might gain too much control, increasing the risk of harassment and misuse of personal financial data.
Possible harassment of taxpayers
Unnecessary scrutiny of personal information
Threats to digital rights and privacy
Critics fear that businesses and individuals could face unfair investigations, and there are questions about how sensitive data will be handled and protected.
Bill is Currently In a Review
The bill is currently being reviewed by a parliamentary committee, and changes might be made before it becomes law. While the government sees this as a step toward better tax enforcement, concerns over privacy and misuse remain.
The post Indian Govt’s New Tax Law: Officials Can Access Your Emails & Social Media from April 2026! appeared first on Coinpedia Fintech News
India’s New Income Tax Bill, proposed in 2025, has raised serious concerns about digital privacy. If passed, the bill would allow tax officials to access individuals’ emails, social media, and trading accounts starting from April 1, 2026. The government claims this measure is necessary to curb tax evasion, but many are worried about potential misuse …
