What happened in the crypto markets last week?
#Binance Research’s Weekly Alpha 🧵👇
1/ Macro/TradFi
@Strategy bought 3,459 BTC for US$285.8M at an average price of US$82,618, using proceeds from its MSTR stock sale—bringing total holdings to 531,644 BTC.
2/ Macro/TradFi (Cont.)
@Metaplanet_JP has purchased 319 BTC for US$26.3M at an average price of US$82,549, bringing its total holdings to 4,525 BTC.
3/ Macro/TradFi (Cont.)
@vaneck_us has proposed “BitBonds”—a hybrid instrument combining U.S. Treasuries with Bitcoin exposure—as a novel strategy to address the US$14T U.S. government refinancing need.
4/ Macro/TradFi (Cont.)
@vaneck_us plans to launch a crypto-related ETF next month, featuring 30 to 60 investments tied to digital assets. The fund will offer exposure to the broader crypto economy by targeting equities and financial instruments linked to exchanges, miners, and
5/ Macro/TradFi (Cont.)
Panama City’s municipal government has approved the use of cryptocurrency for payments, allowing BTC, ETH, USDC, and USDT to be used for taxes, fees, tickets, and permits.
6/ DeFi
DeFi TVL dropped by US$48B in Q1 2025, a 27.5% decline, driven by a broad pullback in altcoin prices, according to @coingecko.
7/ DeFi (Cont.)
@RaydiumProtocol, Solana’s largest DEX by cumulative volume, has launched LaunchLab—a token creation platform rivaling @pumpdotfun—direct integration into its liquidity pools and support for third-party fee structures.
8/ DeFi (Cont.)
@SkyEcosystem and @sparkdotfi have deployed US$25M into a @maplefinance lending pool, with plans to potentially double the allocation—marking a deeper push into RWAs.
9/ DeFi (Cont.)
@solayer_labs is launching a crypto credit card powered by its InfiniSVM infrastructure, allowing users to spend crypto directly without off-ramping to fiat.
10/ Stablecoins
@StanChart analysts project stablecoin supply could surge to US$2T by end-2028—nearly 10x today’s ~US$230B—driven by anticipated U.S. regulatory clarity.
11/ Stablecoins (Cont.)
@federalreserve Chair Jerome Powell voiced support for stablecoin legislation, saying they could have broad appeal but must include consumer protections, during an April 16 panel in Chicago.
12/ Others
@elizaOS has launched @autodotfun, a pump.fun-style platform that lets users deploy complex AI agents without technical skills, featuring a “fairer than fair” token launch model to support sustainable economics.
13/ Others (Cont.)
@TreehouseFi, a DeFi startup focused on fixed-income products, has raised an undisclosed amount in a new strategic funding round at a US$400M valuation.
14/ Others (Cont.)
RWA tokenization firm @Securitize has acquired a crypto-focused fund administration company from MG Stover, expanding its in-house platform and bringing total assets under administration to US$38B across 715 funds.
15/ Interested to learn more? Be sure to check out the Binance Research website for more project and macro research reports.
www.binance.com/en/research
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Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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