Spotlighting the Market Movers and Shakers: BONK, TRUMP, and AAVE Lead the Charge

This week, the cryptocurrency market surged across the board, with Bitcoin breaking the $95,000 barrier.

Institutions' FOMO, DeFi boom, and favorable regulations propel altcoins higher, while Trump token rises on dinner plans.

According to 10x Research, the cryptocurrency market saw a surge across the board this week, with Bitcoin breaching the $95,000 barrier. The primary drivers included easing macro risks, record inflows into ETFs, and a weaker dollar.

Among altcoins, several saw significant price swings. Solana (SOL) observed a 6.7% increase, attributing to institutional buying activity, booming DeFi protocols, short squeezes, and heightened interest in meme coins.

Notably, CME launched XRP futures contracts, and institutions are showing increasing interest in integrating Ripple (XRP) for cross-border payments as banks like Standard Chartered and DBS Bank actively use Ripple’s technology. Despite the SEC lawsuit and pending lawsuit from a group of XRP investors, enthusiasm for XRP remains high.

Stellar (XLM) experienced a surge of 18.1%, driven by partnerships with retail giants in South Asia, a strong surge in trading volume, and the easing of regulations for U.S. crypto banks.

Polkadot (DOT) encountered a setback as the SEC delayed the approval of several Bitcoin ETFs, pending further review by the agency’s administrative law judge. However, despite this delay, the market remains optimistic about the eventual approval of the ETFs and the broader opening of the crypto market.

SUI price witnessed a staggering 64.3% surge, attributing to the explosive trading volumes on SUI’s decentralized exchanges (DEXs), rapid expansion of the stablecoin ecosystem, and several notable partnerships announced.

Raydium Protocol (RAY) encountered a 27.9% surge, benefitting from Solana’s meme coin incentive programs, leading to a revival in decentralized finance (DeFi) activity on the Solana network.

Aave (AAVE) observed a 21.5% increase, attributing to Bitcoin’s price recovery, Aave’s own buyback plans, the launch and rapid adoption of GHO stablecoin on Aave, and the sustained growth in total value locked (TVL) on Aave.

The Trump token experienced an 86% surge following the announcement of a dinner plan between a Trump supporter and the former president, who is planning to run for president again in 2025. The token has been a subject of discussion and amusement among investors.

Algo Foundation is developing a decentralized identity project, which is expected to be launched soon. With the rapid development of the Web3.0 space and the integration of various technologies like blockchain, cryptocurrencies, and NFTs, the demand for decentralized identity solutions is also increasing.

As the House Financial Services Committee prepares for an upcoming hearing with major cryptocurrency executives, the price of Algo (ALGO) encountered a 12.4% surge, attributing to anticipation for the hearing, which will focus on the role of digital assets in the financial services industry.

The price of Bonk (BONK) encountered a 55.7% surge, benefitting from several factors, including the execution of Bonk tokens burn and the acquisition of NFTs by the Bonk community.

According to reports from BlockVisio, the Letsbonk.Fun meme coin issuance platform, jointly developed by members of the Bonk community and Raydium, has been officially launched.

A portion of the fees collected by the Letsbonk.Fun platform will be used to:

1. Strengthen and ensure the security of the Solana network through Bonk community members' participation in maintaining Sol validator nodes.

2. Buy back and burn Bonk tokens to reduce their circulation.

An astute trader has completely swapped 1.18 million Fartcoins for 78,671 TRUMP tokens in the past 18 hours, as reported by Lookonchain.

In another development, Michael Saylor disclosed that Strategy (MSTR) has generated $5.1 billion in BTC revenue so far this year.

Macro researcher Adam from Greeks.live shared on X that next week (April 28-May 2) will see the release of U.S. non-farm payrolls and surplus data on Friday, which will be the most interesting pieces of data.

Two Arizona Bitcoin reserve bills will undergo a third reading next Monday and may be subject to a final vote.

The International Monetary Fund (IMF) has stated that El Salvador has ceased using public funds to invest in Bitcoin.

Lending protocol Loopscale on Solana chain announced on X that, today at 11:30 AM EST (April 26, 11:30 PM Beijing time), the pricing function of Loopscale's RateX PT token was manipulated, leading