😨Bitcoin Slips to $93,000 on Recession Fears

gm Defiers!

Crypto markets fell for a second day after lackluster U.S. GDP data sparked recession fears. BTC, ETH and SOL dipped by between 1.5% and 4%.

Hardware wallet maker Ledger is integrating DeFi stablecoin yields through Kiln, a rewards management platform.

Plus, AI coins outperform, and INIT and LAYER post strong gains.

✍️ In today’s newsletter:

Crypto markets drop after data shows US GDP shrank in Q1
Ledger Live integrates DeFi yields through Kiln
AI coins outperform amid altcoin rally
Initia token recovers from post-airdrop selloff
Solayer token doubles in a month

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💥Bitcoin Slips to $93,000 as U.S. GDP Decline Stokes Recession Fears

Crypto markets fell for a second day after the Commerce Department revealed that the economy contracted in Q1, raising concerns that President Trump’s tariff policies may be driving the U.S. toward a recession.

Bitcoin is down 1.2% at $94,000 after trading as low as $93,000, while Ether dropped 3% to $1760. XRP plunged 6%, while SOL slipped 3% to $144 over the past 24 hours.

💰Ledger Live Integrates DeFi for Stablecoin Yields

Hardware wallet provider Ledger is introducing DeFi stablecoin yields into its hardware wallet interface, Ledger Live. The integration lets users earn between 5% and 9.9% APY on stablecoins USDT, USDC, USDS, and DAI, through leading DeFi protocols including Aave, Compound, Sky, Morpho, and Spark.

🤖AI Coins Lead Altcoin Resurgence

After an intense multi-month pullback, AI agent tokens are some of the strongest performers in the altcoin market this week. The move is led by previous category leaders like VIRTUAL and AI16z, but other tokens such as Alchemist AI (ALCH) have also rallied strongly off their lows.

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🚀Initia Token Recovers from Post-Airdrop Slump with 30% Rally

INIT, the native token of Initia, experienced a sharp surge on April 29 following the modular blockchain platform’s mainnet debut last week. INIT rallied 30% in 24 hours, climbing to $0.81 from $0.65.