1. CEX Popular Cryptocurrencies
CEX Top 10 Trading Volume and 24-Hour Price Changes:
BTC: + 2.83%
ETH: + 3.56%
XRP: + 1.29%
SOL: + 0.89%
BNB: + 0.22%
Doge: + 3.28%
Sui: + 5.2%
Pepe: + 3.98%
ACT: -61.75%
ADA: + 1.71%
24H Top Gainers (Data Source: OKX):
COMP: + 22.41%
ULTI: + 14.36%
MEW: + 13.05%
EOS: + 11.34%
BONK: + 10.64%
Pendle: + 9.22%
RENDER: + 7.05%
MKR: + 5.97%
CRO: + 5.74%
RIO: + 5.71%
2. Top 5 On-Chain Meme (Data Source: GMGN):
Fartcoin
ELON
ANIME
BUPS (BNB Chain)
titcoin
3. 24H Hot Search Cryptocurrencies
PUMP: PUMP is the official token of PumpBTC and the seventh Binance Wallet exclusive TGE project. Current market cap is $14.56 million.
ELON: ELON is a meme coin on the Solana chain, aiming to drive community interaction through Musk's meme culture. It intends to be applied in social tipping and community incentives through Solana's low-cost, fast network. Current market cap is $11 million.
Headline News
Binance's official account @BinanceHelpDesk responded on X platform. According to the announcement, the incident was mainly due to three VIP users concentrated selling tokens worth about $514,000 in the spot market, and a non-VIP user transferring and quickly selling ACT tokens worth $540,000 from an external platform. The related selling triggered partial futures contract forced liquidation and caused a market chain reaction.
Binance stated that after investigation, no single account was found to have gained significant profits from the incident. As the tokens are circulating in the secondary market, the platform cannot intervene in normal market trading. To prevent risks, Binance has proactively reduced the leverage multiple of ACT/USDT perpetual contracts and emphasized continuing to improve market liquidity through market maker programs.
Previously, ACT's 50% flash crash sparked community discussion.
[The translation continues in the same manner for the rest of the text...]According to the official announcement, Binance C2C will adjust the T+1 withdrawal plan starting from April 1, 2025, specifically:
Binance will add a T+0 withdrawal quota of $1,000 worth of assets for all users on top of the existing T+1 withdrawal mechanism;
If the user has no assets in their Binance account, regardless of how much they buy that day, they can only withdraw up to $1,000 worth of assets on the day of purchase, with the remaining assets requiring withdrawal 24 hours after the order is completed;
If the user already has assets in their Binance account, an additional T+0 withdrawal quota of $1,000 worth of assets will be added on top of the original C2C T+1 withdrawal restrictions;
All Trading Stars users who buy cryptocurrencies of any amount on C2C will not be subject to T+1 withdrawal restrictions.
Binance will list KERNEL as the fourth Megadrop project
According to the official announcement, Binance announced that the fourth Megadrop project is KernelDAO (KERNEL), a restaking protocol supporting Kernel, Kelp, and Gain. KERNEL has a maximum supply of 1 billion tokens, with Megadrop rewards of 40 million tokens (4% of total supply). The initial circulating supply is 162.3 million tokens (16.23%). Specific listing time and details will be announced separately within a week.
Benson Sun, founder of Coinkarma, analyzed on X platform, "At 18:30 today, ACT suddenly plummeted 50%, caused by Binance adjusting ACT's leverage position limits, with 1x leverage limited to a maximum of $4.5 million position. Some market makers' positions exceeded the limit and were directly liquidated at market price, causing a contract price crash and a huge price difference with spot, which also crashed subsequently.
Binance's announcement was issued on April 1 at 15:32, effective at 18:30 on April 1, giving users less than 3 hours to react. More incredibly, Binance had already modified ACT's position limits once on March 31, and on April 1, further cut low-leverage position limits by 50%.
Before modifying rules, Binance should have assessed how many positions would be liquidated. If market makers have large positions, they should have been notified in advance. As an industry leader, we hope Binance can handle this incident properly."
Circle Files S-1, Plans to List on NYSE with Ticker CRCL
Circle has submitted an S-1 filing to the U.S. Securities and Exchange Commission (SEC), planning an initial public offering (IPO) with the stock ticker "CRCL" and intending to list on the New York Stock Exchange. The IPO pricing range has not yet been announced.
GameStop Completes $1.5 Billion Convertible Debt Issuance, May Initiate Bitcoin Allocation Plan
GameStop (GME) has completed full subscription of $1.3 billion five-year convertible notes, with total fundraising reaching $1.5 billion including over-allotment, with net proceeds after expenses at $1.48 billion.
Previously, GameStop disclosed in its latest financial report that its board has approved an updated investment policy, planning to incorporate Bitcoin into its balance sheet. The market anticipates that the company may have started or is about to start Bitcoin asset allocation.
Investment
Cambrian Network Completes $5.9 Million Seed Round, Led by a16z CSX
AI infrastructure protocol Cambrian Network announced completion of a $5.9 million seed round, led by a16z Crypto Startup Accelerator (CSX) and participated by BB Fund. Cambrian aims to build intelligent infrastructure for AI financial agents by integrating on-chain and off-chain data, empowering AI agents to make smarter market predictions and financial decisions. Founded by former The Graph and Semiotic Labs members, the project has launched private testing and plans to release a testnet.
People & Voices
Arthur Hayes: Bitcoin Could Reach $250,000 by Year-End Despite US Stock Decline
BitMEX co-founder Arthur Hayes reaffirmed his long-term bullish stance on Bitcoin in his latest blog. He stated that Bitcoin's pricing is fundamentally about "technology + fiat liquidity", with no significant technological changes currently, and the market is primarily trading based on future fiat supply expectations.
Hayes believes that if the Federal Reserve truly shifts from quantitative tightening (QT) to quantitative easing (QE), Bitcoin has already bottomed around $76,500. He said that despite potential US stock market declines due to tariffs, reduced corporate earnings expectations, or weak overseas demand, Bitcoin is still likely to continue rising, potentially challenging $250,000 by year-end.
Grayscale Executive: Tariff Impact May Be Priced In, Crypto Market Might Return to Fundamentals
Zach Pandl, Grayscale's Research Director, stated that the negative impact of tariffs on cryptocurrencies may have already been "priced" by the market, with the worst phase possibly over. He believes that if the tariff policy announced by Trump on April 2 is tough but phased, focusing on 15 target countries, the market might see a rebound, and the crypto market could refocus on positive fundamentals. Additionally, Pandl noted that tariffs will enhance market interest in non-dollar assets, benefiting alternative currency assets including Bitcoin.
