🚀Sui Ecosystem Outperforms as Bitcoin Clears $95,000

gm Defiers!

Bitcoin surged above $95,000 on Friday, hitting a two-month high to cap off a bullish week across crypto markets. SUI was the week’s big winner, rallying 70% and sparking an ecosystem-wide rally.

Modular blockchain platform Initia launched its mainnet and native INIT token, which opened at a $700 million valuation.

Meanwhile, Cardano founder Charles Hoskinson claims that Ethereum will be obsolete in a decade due to poor design choices.

Plus, Hyperliquid TVL soars, Wormhole launches MultiGov, and Wall Street bets on staked ETH ETFs.

✍️ In today’s newsletter:

SUI surges 70% in a week
Modular blockchain Initia launches mainnet and airdrop
Can Ethereum leadership reverse rock-bottom ETH sentiment?
Bitcoin hits 2-month high above $95,000
Hoskinson says Ethereum will be dead in 10 years
Hyperliquid TVL approaches ATH
Wormhole launches MultiGov crosschain governance platform
Wall Street’s next bet: staking-enabled ETH ETFs

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🚀Sui Ecosystem Outperforms Altcoin Market

SUI is up 73% to a $12 billion market capitalization over the last week, making it the biggest winner among large-cap altcoins. DEX tokens DeepBook (DEEP) and Cetus are up 100% and 125%, respectively, in the same period

🪂Initia Launches Mainnet with INIT Token Airdrop

Initia, a modular blockchain platform that combines a Layer 1 blockchain with a customizable Layer 2 rollup framework, launched its mainnet and native token on April 24. INIT currently trades at a $900 million fully diluted valuation.

📣Ethereum Leadership Seeks to Reverse Rock-bottom Sentiment with New Roadmap

After growing pressure born out of ETH’s underperformance, Ethereum is shifting its strategy. A renewed focus on scaling the Ethereum mainnet comes as activity on the L1 declines while more and more transactions take place on Layer 2 networks like Base and Arbitrum.

📈Crypto Markets Tick Up Amid Positive Macroeconomic Data, but Inflation Fears Linger

BTC increased 2% over the past 24 hours, trading hands at around $95,400. ETH is also up 2% to approximately $1,800, while XRP remained flat on the day. SOL gained 2.6% to $155.

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