🪙Traders Flock to Onchain Gold Amid Macro Uncertainty

gm Defiers!

Most digital assets dropped on Wednesday as trade tensions escalated between the U.S. and China. Bitcoin held steady around $85,000 while ETH and SOL dipped 2%.

PumpSwap’s weekly trading volume surged 40% to $2.3B, a sign that the memecoin sector may be staging a comeback.

Plus, AWS outage sparks centralization debate, onchain gold volumes spike, and TRUMP unlocks loom.

✍️ In today’s newsletter:

• Onchain gold trading volumes surge to record highs
• PumpSwap weekly volume hits record $2.3 billion
• Crypto markets dip for a second day as trade war escalates
• AWS outage disrupts crypto exchanges
• SEC drops 10 major crypto cases in Q1
• TRUMP memecoin holders brace for $300 million unlock
• OpenEden’s OUSD stablecoin surpasses $100 million valuation
• Mantra rebounds slightly from Sunday crash

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💰Onchain Gold Trading Volume Soars to All-Time High

Paxos Gold (PAXG) and Tether Gold (XAUt) both hit all-time high trading volumes last week, with PAXG processing $802 million and XAUt generating $267 million between April 5 and 12.

📊PumpSwap Weekly Trading Volume Hits All-time High of $2.3 Billion

PumpSwap, the native DEX of memecoin launchpad PumpFun, hit a new all-time high for weekly trading volume last week after processing $2.3 billion worth of trades.

📉Crypto Market Extends Losses as Tariff Tensions Rattle Investors

The cryptocurrency market lost ground for a second consecutive day as investors grapple with new potential tariff measures. BTC was flat at around $85,000, while ETH is down 2% to $1,588. XRP slipped 2.2% to $2.09. SOL also dropped by around 1.9% to $127.

💥AWS Outage Disrupts Crypto Exchanges, Raising Questions About Web3’s Centralized Backbone

The AWS disruption led to failed orders, inaccurate charts, and asset transfer delays on several exchanges. The outage has sparked an important debate within the crypto community: Is decentralized infrastructure too dependent on centralized platforms?

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Stablecoins are exploding, projected to hit $230 billion in 2025, bridging traditional finance and blockchain. Leaders like Tether and Circle, alongside innovations like Ethena’s yield-generating USDe, are driving adoption. They’re slashing cross-border payment times and costs, and powering DeFi’s growth. But are they a valuable inroad for institutions or a Trojan horse? As on-chain finance continues to grow and innovate, banks and other established financial institutions face a choice: adapt or risk obsolescence. Will stablecoins empower traditional finance to capitalize on the new value being generated by Web3, or serve as the seed for decentralization? Platforms like Stellar that enable compliant issuance may offer a middle path.

READ MORE: Stablecoins: Institutional Game-Changer or Web3’s Trojan Horse?

🏛️The SEC Has Dropped 10 Crypto Cases in Q1 Alone

Since Donald Trump took office and began a shakeup at the Securities and Exchanges Commission (SEC), the agency has dropped a number of cases against U.S. crypto firms.

🔓TRUMP Memecoin's $300M+ Unlock Is ‘One to Watch’: Analyst

Around 40 million TRUMP tokens — 20% of the token’s circulating supply — worth approximately $314 million at current prices, will be released on April 17.

💲OpenEden Stablecoin Crosses $100 Million Valuation

Real-world asset (RWA) tokenization platform OpenEden’s USDO stablecoin launched on March 6 with a $32 million market capitalization and is up 235% to a $107 million valuation as of April 14.

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📈Mantra Bounces 60% Following Recent Crash

Mantra is bouncing back after its native OM token suddenly plunged by over 90% on Sunday. The rebound is likely due to a token recovery plan, which CEO John Mullin said involves a token buyback program and potential token supply burns.

🌍 ELSEWHERE

• Trump’s World Liberty Signs Crypto Deal With DWF Labs (Bloomberg)
• Resolv Labs Raises $10M as Crypto Investor Appetite for Yield-Bearing Stablecoins Soars (CoinDesk)
• Michael Saylor has one word for Bitcoin holders — and it’s not 'sell' (TheStreet)

🔥TRENDING

• The SEC Has Dropped 10 Crypto Cases in Q1 Alone
• Onchain Gold Trading Volume Soars to All-Time High
• After a Long Focus on Layer 2s, Ethereum Foundation Turns Its Attention Back to Mainnet
• SOL/ETH Ratio Hits Another All-Time High
• Five Fartcoin Holders Generate Nearly $9 Million in Profits as Token Rallies
• Ethena Partners with Re to Connect Crypto with Trillion Dollar Reinsurance Market