Market Overview

Overall Market Situation

This week, the cryptocurrency market is trending upward, with the overall market and most Altcoins showing an upward trend. The recently depressed market sentiment has been significantly relieved, with the market sentiment index rising from 55% to 79%, entering a bullish zone. The stablecoin market value continued the upward trend that began last week, maintaining an upward momentum (USDT reached $145.7 billion, USDC reached $61.9 billion, with increases of 0.62% and 2.32% respectively), indicating that institutional funds have increased their entry, primarily driven by US funds, showing that this week's upward trend has greatly boosted the sentiment of US investors, who are beginning to accelerate their entry.

This week's market rebound was mainly influenced by the US softening its stance on tariffs with China, Trump's statement that he does not intend to dismiss Federal Reserve Chairman Powell, and the new SEC Chairman Paul Atkins taking office with a friendly attitude towards the crypto industry, thus promoting a significant market rebound this week. However, the market still faces uncertainties such as the potential US economic recession and tariffs, so this week's rise can only be seen as a rebound from previous overselling and cannot be considered a market trend reversal.

Next Week's Forecast

Bullish Targets: SOL, SNX

SOL: Comprehensive Recovery of Solana Ecosystem, Rise of Meme Tokens, Stablecoins, and Decentralized Trading Platforms Driving Market Recovery

Meme Token Market Warming Up

This week, with the market recovery, the trading volume of Meme tokens on the Solana chain increased significantly. The number of Meme token purchases continuously exceeded sales, driving rapid recovery of on-chain data. This indicates that despite the previous Meme wave's retreat causing losses to on-chain users, investors' interest in Meme tokens remains strong. Moreover, after PumpSwap was launched on Pump.fun, its daily trading volume gradually increased, maintaining between $300 million and $480 million, accounting for 9% to 19% of Solana's DEX trading volume, showing the Meme market is gradually warming up. The activity in the Meme token market helps boost SOL's price in the short term.

[Rest of the translation continues in the same professional and accurate manner, maintaining the specified translations for specific terms]

Bearish Targets: REZ, OMNI

REZ: Potential Concentrated Sell-off by Investment Institutions and Team with 8.64% Token Unlock amid Restaking Downturn

Renzo is a liquidity reStaking protocol based on the EigenLayer ecosystem, aimed at simplifying complex staking mechanisms for end users and enabling rapid collaboration with EigenLayer node operators and Active Validation Services (AVS). Due to the recent poor performance of the Ethereum ecosystem and the continued low ETH price, ETH staking rates have declined, causing Restaking track projects to lose market attention. On April 30th, 864 million REZ tokens will be unlocked, representing 8.64% of the total locked amount, with the current circulation rate being only 21%. Based on the linear unlock chart in its whitepaper, this unlock primarily targets investment institutions and the project team. Given the current low heat of Restaking projects, few participants, and poor Ethereum ecosystem performance, this significant unlock might trigger substantial selling pressure, potentially impacting the REZ token price.

OMNI: Large Token Unlock Approaching, Market Sell-off Risk Intensifies

Omni is an interoperability layer for Ethereum that establishes low-latency communication across all Ethereum Rollups, enabling Ethereum to operate as a cohesive system in the modular era, and is itself a public chain project. Due to the ongoing Ethereum ecosystem downturn and recent underperformance of Layer-2 projects, Omni, as a connecting project between Layer-2 networks, has lost its value. On May 2nd, 16.63 million OMNI tokens will be unlocked, representing 16.64% of the total locked amount, with the current circulation rate at only 19%, effectively doubling the existing circulating token amount. Based on the linear unlock chart in its whitepaper, this unlock primarily targets investment institutions and the project team. Given Omni's current low market heat, this significant unlock might trigger substantial selling pressure, potentially affecting the OMNI token price.

[The rest of the translation follows the same professional and accurate approach, maintaining technical terminology and preserving the original structure.]

UnifAI is a DeFi project that provides on-chain and off-chain task execution capabilities. Its flagship product UniQ simplifies complex on-chain operations, and although it has not issued tokens, it has launched a points program.

Future Development Direction

Currently, Web3 AI projects based on the MCP protocol are mostly in the early stages of development, with no substantial products yet launched, though some have already issued tokens. Although the MCP track is currently an emerging hot spot in the AI subdivision, given the previous failures of the AI Agent track, it is still necessary to maintain a cautious attitude towards whether MCP track projects are just a flash in the pan of AI meme asset issuance or can truly develop products that promote the AI track. Therefore, the future development of MCP should focus primarily on the implementation and application of decentralized technology. With the rapid development of AI and blockchain technology, MCP will continue to optimize its technical architecture to support more efficient computing and data sharing. Additionally, MCP will be committed to improving interoperability, simplifying developers' usage processes, and promoting the popularization of decentralized applications.

Overall Market Theme Overview

Data source: SoSoValue

Based on weekly return rates, the AI track performed best, while the CeFi track performed worst.

AI Track: In the AI track, TAO, RENDER, FET, WLD, and FARTCOIN have large proportions, with a total share of 86.32%. Their weekly gains were 50.96%, 18.93%, 53.36%, 33.58%, and 29.95% respectively, with average gains higher than projects in other tracks, thus making the AI track perform the best.

CeFi Track: In the CeFi track, BNB, BGB, and OKB have large proportions, with a total share of 89.97%. Their weekly gains were 2.35%, 2.51%, and 2.29% respectively, with average gains lower than projects in other tracks, thus making the CeFi track perform the worst.

Crypto Major Events Forecast for Next Week

Wednesday (April 30): US Q1 Real GDP Annualized Quarter-on-Quarter Revised Value; US March Core PCE Price Index Year-on-Year; US April ADP Employment Numbers

Thursday (May 1): US April ISM Manufacturing PMI

Friday (May 2): US April Seasonally Adjusted Non-Farm Payrolls; US April Unemployment Rate

Summary

This week, the cryptocurrency market saw a significant upward trend, with market sentiment shifting from low to positive. This change was mainly influenced by the relaxation of US policies and the new SEC chairman's friendly attitude towards the crypto industry. As the policy environment changes, investor confidence in the market gradually recovers, leading to capital inflows into the cryptocurrency market and driving price increases. However, the market still needs to be wary of economic recession and tariff policy uncertainties, which may continue to affect market trends. While enjoying market growth, investors also need to remain cautious to cope with potential volatility.

Projects like Solana and Synthetix show potential for recovery, especially with positive progress in technological upgrades and community support. Solana's accelerated development and Synthetix's innovative initiatives have attracted more investor attention, with expectations that these projects will continue to expand their market influence in 2025. However, projects like Omni face selling pressure from token unlocks, which may negatively impact their prices. Investors should allocate resources reasonably based on specific project conditions and market environments to mitigate potential risks.

Although the overall industry trend is currently favorable, the market still faces uncertainties from the potential US economic recession and tariffs. Therefore, this week's rise can only be seen as a rebound from previous overselling and cannot be considered a market trend reversal. Next week will see the release of multiple macroeconomic data, including:

· US Q1 Real GDP Annualized Quarter-on-Quarter Revised Value;

· US March Core PCE Price Index Year-on-Year;

· US April ADP Employment; US April ISM Manufacturing PMI;

· US April Seasonally Adjusted Non-Farm Payrolls; US April Unemployment Rate.

These data can influence future market trends. It is recommended that investors maintain moderate positions, manage risks, and wait for policy clarity, which will be the best strategy for addressing the current market.