A summary weekly review of the events on the crypto markets with a focus on trend sectors, liquidity, volatility, spreads and more in cooperation with market data providers Kaiko.

This week, we continue our cooperation with market data providers Kaiko to provide a weekly summary review of the events on the crypto markets with a focus on trend sectors, liquidity, volatility, spreads and more.

The big news of last week was the new crypto project by Cantor Fitzgerald with Softbank, Tether and Bitfinex. The company's 3 billion dollar plans include the mass purchase of Bitcoin and the challenge of Michael Saylor's strategy.

Elsewhere, the CME XRP-Futures Bring on the market and the markets have moved further up.

Trump's U -turn

US President Donald Trump tests the narrative (and patience of his political rivals) that Memecoins have no value. The recent developments in Trump token have annoyed his political rivals because the announcement of the dinner led to a price jump of 60% (from USD 9 to $ 14.50) and increased onchain activity.

On Wednesday, April 23, the team announced plans for an exclusive dinner for the top 220 owners behind the official Trump Memecoin, whereby the best 25 should be met with the incumbent president. After the announcement, the Onchain activity rose suddenly. On this day, almost 10,000 wallets transferred Trump token, which represented an increase of 200% compared to Tuesday.

This activity followed the announcement of the dinner. On Wednesday, Trump token worth around USD 2.3 billion was transferred on the blockchain, which made the day the most bustling of the month.

The majority of the volume was driven by smaller token owners. Wallets, which keep Trump tokens worth less than $ 100,000, dominated the activity on Wednesday. Larger wallets show more constant activity, with high volumes. This has stopped until Thursday, probably because of them OTC-DESKs, stock exchanges and market maker walls are, which have to handle structural operations in connection with the momentary powerful activity.

A closer look at the data shows that on the day the Trump incentive dinner was announced, the proportion of wallets, which transmit smaller amounts of Trump-tokens on the Solana blockchain. Usually about 46% of the active wallets Trump is transferred worth less than 10,000, this share rose to 75% after the announcement. The majority of this increase came from very small transfers (less than $ 1,000), which made 47.2% of the active wallets alone.

This represents a significant but short -lived deviation from the usual trend, in which the activity is divided between large transactions (over $ 100,000) and smaller transactions.

After the announcement of the dinner, not only the activities on the blockchain increased. Trump has recorded the highest daily trade volume on central stock exchanges since mid -February and thus the third largest volume since its introduction.

After the announcement of the exclusive dinner, the volume of the Trump token exceeded all other important Memecoins, including Doge. The US President's Memecoin made almost 50% of the total Memecoin trade volume on central stock exchanges last Wednesday.

The volumes have decreased since then because the euphoria has decreased, similar to the onchain activity. Based on the rules for the competition, however, we can expect more activity in the coming weeks. The rules stipulate that the best 220 average Trump owners are qualified for dinner between April 23 and May 12. It is to be expected that the activity will increase when the cut -off date moves closer and the owners bring their money back to the blockchain to qualify for the event.

Bitcoin extends a lead over old coins

Memoins like Trump dominated the news cycle in addition to BTC during the current housesee (2022 until today). In previous crypto market cycles there was always a rotation in small cap values, which was referred to as the “old coin season”. This cycle was a little different.

The last time that the BTC dominance was so high was in the first half of 2021, shortly before the market focused on cryptocurrencies with lower market capitalization.

However, this does not mean that this is a sign of an upcoming old coin season. Rather, there are several arguments that speak for a persistent dominance of BTC due to structural changes on the market.

The option outlook indicates a continued BTC rally

The option markets seem to be confident that the current status quo remains unchallenged until summer. The expiry date on May 30th at Deribit recorded a significant volume last month, especially after the big expiry date on Friday.

The majority of the increased activity since Friday focused on the $ 100,000 strike for this expiration day. In the past seven days, a volume of almost $ 350 million has been achieved with this strike.

Is this volume just a sign of the upward inclination of the markets after the improved mood last week, or