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Daily market key data review and trend analysis, produced by PANews.Daily market key data review and trend analysis, produced by PANews.

Trading time: Risk assets rebound after Trump "shows weakness"; Standard Chartered Bank and Arthur Hayes are optimistic about BTC hitting $200,000

2025/04/23 13:05

1. Market observation

Keywords: Trump, ETH, BTC

Trump recently stated that he has no intention of firing Fed Chairman Powell, while admitting that tariffs on Chinese exports are too high and hinting that the tax rate will be significantly reduced. At the same time, the geopolitical situation has also shown signs of easing, and Putin has proposed to stop the offensive against Ukraine on the current front as part of efforts to reach a peace agreement with Trump. These easing signals have directly affected the performance of safe-haven assets. Spot gold has fallen by about $160 from yesterday's high of $3,500 and is now quoted at $3,339 per ounce.

Crypto assets have seen a sharp rebound. Bitcoin broke through the key resistance level of $90,000 yesterday and rose above $94,000 this morning. Its market value has surpassed silver and Amazon, rising to sixth place in the global asset market value ranking. 10x Research pointed out that the current key resistance area is between $94,000 and $95,000. Traders in the Greeks.live community believe that after Bitcoin breaks through $90,000, the next target will be $93,000/$100,000; while those who are cautious are paying attention to possible pullbacks, and it is expected that there will be a significant increase after a retracement to the $84,000 or $74,000 level. Cantor Fitzgerald, led by Brandon Lutnick, son of U.S. Commerce Secretary Howard Lutnick, is working with multiple institutions to build a multi-billion dollar Bitcoin acquisition platform, which will become another powerful buyer of Bitcoin.

In addition, Arthur Hayes is optimistic about the future of Bitcoin, believing that Bitcoin will break away from its association with technology stocks and become a safe-haven asset in the market together with gold. It is expected that Bitcoin may rise all the way to $200,000 after breaking through $110,000, triggering funds to flow from Bitcoin to altcoins. Geoff Kendrick of Standard Chartered Bank is also optimistic. He expects that if market concerns about the independence of the Federal Reserve continue, Bitcoin may hit a record high and predicts that it will reach $200,000 by the end of 2025.

In terms of altcoins, Solana rebounded with the rise of the market, rising above $150 this morning. This rise was supported by institutional funds. Galaxy Digital exchanged $100 million of ETH for SOL, the US listed company DeFi Dev Corp increased its holdings of $11.5 million of SOL, and the blockchain payment provider Astra Fintech also set up a $100 million fund to support Solana's development in Asia. In this atmosphere, the AI Meme sector rebounded the most, ZEREBRO doubled its daily increase, and Fartcoin's market value exceeded $1 billion.

In terms of macroeconomics, U.S. Treasury Secretary Benson said the tariff stalemate is unsustainable and the situation is expected to ease. Trump's attitude towards the Federal Reserve has also eased. He said, "We think the Federal Reserve should lower interest rates, and now is a perfect time. We hope that our chairman can (cut interest rates) ahead of schedule or on time." At the same time, he also expressed satisfaction with the performance of the stock market rally. According to CME's "Fed Watch" data, the probability of the Federal Reserve keeping interest rates unchanged in May is 91.7%, and the probability of a 25 basis point rate cut is 8.3%. The probability of the Federal Reserve keeping interest rates unchanged by June is 32.8%, the probability of a cumulative 25 basis point rate cut is 61.8%, and the probability of a cumulative 50 basis point rate cut is 5.3%.

2. Key data (as of 12:00 HKT on April 23)

(Data sources: Coinglass, Upbit, Coingecko, SoSoValue, Tomars, GMGN)

Bitcoin: $93,203.77 (-0.45% year-to-date), daily spot volume $55.665 billion
Ethereum: $1,794.45 (-46.28% year-to-date), with a daily spot volume of $25.673 billion
Fear of Greed Index: 72 (Greed)
Average GAS: BTC 1.05 sat/vB, ETH 0.67 Gwei
Market share: BTC 63.3%, ETH 7.4%
Upbit 24-hour trading volume ranking: DEEP, XRP, BTC, AERGO, TT
24-hour BTC long-short ratio: 1.005
Sector gains and losses: MemeAI sector rose 14.52%, Ai sector rose 13.81%
24-hour liquidation data : A total of 160,939 people were liquidated worldwide, with a total liquidation amount of US$603 million, including BTC liquidation of US$298 million, ETH liquidation of US$125 million, and SOL liquidation of US$19.13 million
BTC medium and long-term trend channel : upper channel line ($87457.52), lower channel line ($85725.69)
ETH medium and long-term trend channel : upper channel line ($1652.44), lower channel line ($1619.72)

*Note: When the price is higher than the upper and lower edges, it is a medium- to long-term bullish trend; otherwise, it is a bearish trend. When the price passes through the cost range repeatedly within the range or in the short term, it is a bottoming or topping state.

Trading time: Risk assets rebound after Trump "shows weakness"; Standard Chartered Bank and Arthur Hayes are optimistic about BTC hitting $200,000

3. ETF flows (as of April 22 EST)

Bitcoin ETF: $936 million
Ethereum ETF: $38.74 million

4. Today’s Outlook

DTCC launches tokenized collateral management platform "AppChain" and is expected to be demonstrated on April 23rd local time
Zora (ZORA) Token Begins Trading on Binance Alpha
PancakeSwap plans to implement CAKE token economics 3.0
Lending protocol Dolomite will hold a TGE on April 24 and will airdrop 20% of DOLO
Coinbase International Station launches four perpetual contract transactions including WCT and BABY
Binance will terminate withdrawal services for AMB, CLV, STMX and VITE on April 24
Binance will launch INIT on April 24 and open INIT/USDT, INIT/USDC, INIT/BNB, INIT/FDUSD and INIT/TRY trading pairs.
The Federal Reserve released the Beige Book on economic conditions. (April 24, 02:00)
Karrat (KARRAT) unlocked approximately 21.25 million tokens, accounting for 8.79% of the current circulation, worth approximately $1.3 million
Murasaki (MURA) unlocked approximately 10 million tokens, which is 1.00% of the current circulation, worth approximately $4 million
Eigenlayer (EIGEN) unlocked approximately 1.29 million tokens, accounting for 0.53% of the current circulation, worth approximately $1.1 million

The biggest gains among the top 500 stocks by market value today: ZEREBRO up 151.13%, DEEP up 126.82%, TURBO up 50.83%, ARC up 48.62%, and ALCH up 39.56%.

Trading time: Risk assets rebound after Trump "shows weakness"; Standard Chartered Bank and Arthur Hayes are optimistic about BTC hitting $200,000

5. Hot News

Bloomberg: U.S. strategic Bitcoin reserves may reveal details in the coming weeks
Bitcoin spot ETF had a net inflow of US$936 million yesterday, continuing its net inflow for three consecutive days
Today's Fear and Greed Index rose to 72, and market sentiment is in a greedy state
Bitcoin surpasses silver and Amazon to become the sixth largest asset in the world
Trump: No intention to fire Powell, but Fed should lower rates
Trump admits that US tariffs on Chinese imports are too high and are expected to be significantly reduced
The three major U.S. stock indexes closed sharply higher, all up more than 2%.
Cantor to form $3 billion crypto venture with SoftBank and Tether to invest in Bitcoin
Coinbase will launch tokenbot (CLANKER) on the Base network
US listed company DeFi Dev Corp (formerly Janover) increased its holdings of SOL worth $11.5 million
A whale withdrew another 1,000 BTC from Binance and currently holds 19,112 BTC
A whale bought 4 million worth of Fartcoin tokens and 3.5 million dollars worth of TRUMP tokens
Bernstein: The macro environment is favorable for Bitcoin, and "digital gold" will usher in five major catalysts
BTC/Nasdaq ratio reaches 4.96, close to all-time high
Metaplanet currently holds 4,855 BTC and plans to hold 10,000 BTC by the end of the year
Ouyi will delist five spot trading pairs including KISHU and MAX on April 29
Upbit to List DEEP in Korean Won Market

Market Opportunity

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The gaming industry is in the midst of a historic shift, driven by the rise of Web3. Unlike traditional games, where developers and publishers control assets and dictate in-game economies, Web3 gaming empowers players with ownership and influence. Built on blockchain technology, these ecosystems are decentralized by design, enabling true digital asset ownership, transparent economies, and a future where players help shape the games they play. However, as Web3 gaming grows, security becomes a focal point. The range of security concerns, from hacking to asset theft to vulnerabilities in smart contracts, is a significant issue that will undermine or erode trust in this ecosystem, limiting or stopping adoption. Blockchain technology could be used to create security processes around secure, transparent, and fair Web3 gaming ecosystems. We will explore how security is increasing within gaming ecosystems, which challenges are being overcome, and what the future of security looks like. Why is Security Important in Web3 Gaming? Web3 gaming differs from traditional gaming in that players engage with both the game and assets with real value attached. Players own in-game assets that exist as tokens or NFTs (Non-Fungible Tokens), and can trade and sell them. These game assets usually represent significant financial value, meaning security failure could represent real monetary loss. In essence, without security, the promises of owning “something” in Web3, decentralized economies within games, and all that comes with the term “fair” gameplay can easily be eroded by fraud, hacking, and exploitation. This is precisely why the uniqueness of blockchain should be emphasized in securing Web3 gaming. How Blockchain Ensures Security in Web3 Gaming?

Immutable Ownership of Assets Blockchain records can be manipulated by anyone. If a player owns a sword, skin, or plot of land as an NFT, it is verifiably in their ownership, and it cannot be altered or deleted by the developer or even hacked. This has created a proven track record of ownership, providing control back to the players, unlike any centralised gaming platform where assets can be revoked.
Decentralized Infrastructure Blockchain networks also have a distributed architecture where game data is stored in a worldwide network of nodes, making them much less susceptible to centralised points of failure and attacks. This decentralised approach makes it exponentially more difficult to hijack systems or even shut off the game’s economy.
Secure Transactions with Cryptography Whether a player buys an NFT or trades their in-game tokens for other items or tokens, the transactions are enforced by cryptographic algorithms, ensuring secure, verifiable, and irreversible transactions and eliminating the risks of double-spending or fraudulent trades.
Smart Contract Automation Smart contracts automate the enforcement of game rules and players’ economic exchanges for the developer, eliminating the need for intermediaries or middlemen, and trust for the developer. For example, if a player completes a quest that promises a reward, the smart contract will execute and distribute what was promised.
Anti-Cheating and Fair Gameplay The naturally transparent nature of blockchain makes it extremely simple for anyone to examine a specific instance of gameplay and verify the economic outcomes from that play. Furthermore, multi-player games that enforce smart contracts on things like loot sharing or win sharing can automate and measure trustlessness and avoid cheating, manipulations, and fraud by developers.
Cross-Platform Security Many Web3 games feature asset interoperability across platforms. This interoperability is made viable by blockchain, which guarantees ownership is maintained whenever assets transition from one game or marketplace to another, thereby offering protection to players who rely on transfers for security against fraud. Key Security Dangers in Web3 Gaming Although blockchain provides sound first principles of security, the Web3 gaming ecosystem is susceptible to threats. Some of the most serious threats include:

Smart Contract Vulnerabilities: Smart contracts that are poorly written or lack auditing will leave openings for exploitation and thereby result in asset loss. Phishing Attacks: Unintentionally exposing or revealing private keys or signing transactions that are not possible to reverse, under the assumption they were genuine transaction requests. Bridge Hacks: Cross-chain bridges, which allow players to move their assets between their respective blockchains, continually face hacks, requiring vigilance from players and developers. Scams and Rug Pulls: Rug pulls occur when a game project raises money and leaves, leaving player assets worthless. Regulatory Ambiguity: Global regulations remain unclear; risks exist for players and developers alike. While blockchain alone won’t resolve every issue, it remediates the responsibility of the first principles, more so when joined by processes such as auditing, education, and the right governance, which can improve their contribution to the security landscapes in game ecosystems. Real Life Examples of Blockchain Security in Web3 Gaming Axie Infinity (Ronin Hack): The Axie Infinity game and several projects suffered one of the biggest hacks thus far on its Ronin bridge; however, it demonstrated the effectiveness of multi-sig security and the effective utilization of decentralization. The industry benefited through learning and reflection, thus, as projects have implemented changes to reduce the risks of future hacks or misappropriation. Immutable X: This Ethereum scaling solution aims to ensure secure NFT transactions for gaming, allowing players to trade an asset without the burden of exorbitant fees and fears of being a victim of fraud. Enjin: Enjin is providing a trusted infrastructure for Web3 games, offering secure NFT creation and transfer while reiterating that ownership and an asset securely belong to the player. These examples indubitably illustrate that despite challenges to overcome, blockchain remains the foundational layer on which to build more secure Web3 gaming environments. Benefits of Blockchain Security for Players and Developers For Players: Confidence in true ownership of assets Transparency in in-game economies Protection against nefarious trades/scams For Developers: More trust between players and the platform Less reliance on centralized infrastructure Ability to attract wealth and players based on provable fairness By incorporating blockchain security within the mechanics of game design, developers can create and enforce resilient ecosystems where players feel reassured in investing time, money, and ownership within virtual worlds. The Future of Secure Web3 Gaming Ecosystems As the wisdom of blockchain technology and industry knowledge improves, the future for secure Web3 gaming looks bright. New growing trends include: Zero-Knowledge Proofs (ZKPs): A new wave of protocols that enable private transactions and secure smart contracts while managing user privacy with an element of transparency. Decentralized Identity Solutions (DID): Helping players control their identities and decrease account theft risks. AI-Enhanced Security: Identifying irregularities in user interactions by sampling pattern anomalies to avert hacks and fraud by time-stamping critical events. Interoperable Security Standards: Allowing secured and seamless asset transfers across blockchains and games. With these innovations, blockchain will not only secure gaming assets but also enhance the overall trust and longevity of Web3 gaming ecosystems. Conclusion Blockchain is more than a buzzword in Web3; it is the only way to host security, fairness, and transparency. With blockchain, players confirm immutable ownership of digital assets, there is a decentralized infrastructure, and finally, it supports smart contracts to automate code that protects players and developers from the challenges of digital economies. The threats, vulnerabilities, and scams that come from smart contracts still persist, but the industry is maturing with better security practices, cross-chain solutions, and increased formal cryptographic tools. In the coming years, blockchain will remain the base to digital economies and drive Web3 gaming environments that allow players to safely own, trade, and enjoy their digital experiences free from fraud and exploitation. While blockchain and gaming alone entertain, we will usher in an era of secure digital worlds where trust complements innovation. The Role of Blockchain in Building Safer Web3 Gaming Ecosystems was originally published in Coinmonks on Medium, where people are continuing the conversation by highlighting and responding to this story