Blockchain Index

Ethereum’s Best Performance Since 2020 as Bulls Reclaim Control

Ethereum has delivered its most impressive weekly performance since December 2020, with $ETH surging from $1,807 to around $2,501—marking a remarkable 38% gain within seven days. The rally has been bolstered by a breakout above the realized price of $1,900, signaling that many holders are now back in profit territory. Binance has emerged as a key player in this surge, with increased trading volume and strong buying pressure reinforcing bullish sentiment. Additionally, a rising wedge pattern is identified in Ethereum’s chart, which could potentially pave the way for a move towards $3,800–$4,800 if the breakout materialises. Despite the optimism, a 42% spike in Ethereum futures open interest warns of impending volatility, as speculative positions could amplify price movements in either direction. Short-term caution is advised, particularly given the increased liquidation heatmaps and declining taker buy-sell ratios.

G7 to Address North Korea’s Crypto Cybercrime at Upcoming Summit

The upcoming G7 summit in Canada is set to focus on the escalating threat of North Korean cybercrime, particularly the regime’s increasing reliance on cryptocurrency theft to fund its sanctioned weapons programs. G7 leaders will discuss coordinated strategies to counter North Korea’s hacking groups, including the notorious Lazarus Group, which reportedly stole over $1.3 billion across 47 cyberattacks in 2024 alone. This surge in crypto-related crime has prompted calls for stronger cybersecurity measures and enhanced intelligence sharing among G7 nations. Recent incidents, such as the $1.4 billion Bybit breach and Kraken’s foiled infiltration attempt by a suspected North Korean agent, underscore the growing sophistication of state-sponsored cybercriminals. Proposed G7 measures may include targeted sanctions against crypto platforms facilitating illicit activity and the implementation of stricter verification protocols for global crypto exchanges. With North Korea’s digital heists funding its nuclear program, the stakes are high as global powers prepare to confront a new frontier in financial warfare.

MetaComp Unveils StableX for Cross-Border Payments 

Singapore-based MetaComp has launched StableX, a cross-border FX payment platform powered by stablecoins such as $USDT and $USDC. Designed to facilitate faster, cost-effective global transactions, StableX leverages MetaComp’s Client Asset Management Platform (CAMP) to streamline high-volume FX trades for institutional clients. Initially supporting USD and stablecoins, the platform plans to add more currencies, including FDUSD, PYUSD, and WUSD, as adoption grows. MetaComp’s co-president Tin Pei Ling stated that the platform’s intelligent routing engine selects optimal payment rails based on speed, cost, and settlement certainty. As regulatory clarity improves in Singapore and beyond, MetaComp aims to position StableX as a reliable solution for businesses seeking to bridge fiat and digital assets seamlessly.

Solana Holds Gains as RSI Levels Normalise and Volume Cools Post-Rally

Following a powerful 55% surge from $95 to $150, Solana $SOL has entered a consolidation phase over the past five days, maintaining price support around $147 while exhibiting stable RSI readings and decreasing trading volume. The Relative Strength Index currently hovers near 50.74, down from recent peaks, suggesting the asset has cooled off from overbought conditions but remains in a neutral zone, poised for either continuation or correction. Meanwhile, volume has tapered significantly to 46.77 million, a sign that speculative activity may be pausing after the initial ETF-fueled rally. Technical patterns still reflect a bullish bias, as price action forms higher lows and shows resilience above support zones, with momentum stabilising near the 21-period moving average on short timeframes. The market’s attention is now fixed on ETF approval probabilities and macroeconomic data, which could either revive buying pressure or dampen short-term sentiment. As long as SOL holds above $145 with improving volume and RSI rising again, another leg toward $160–$180 remains a plausible short-term target, while the $300 level stays on the radar for long-term ETF-driven price expansion.

ETF Net Flows Reinforce Bitcoin’s Market Leadership as Ethereum Turns Positive

The latest ETF net flow data from May 2, 2025, underscores the continued dominance of Bitcoin in institutional investment, with $676 million of the $696.53 million daily inflow attributed to $BTC, marking a powerful reaffirmation of its safe-haven narrative amid macroeconomic uncertainty. Ethereum, while trailing, also showed signs of recovery, pulling in $20 million and extending its recent reversal of an eight-week outflow streak. On a broader timeline, digital asset products have accumulated over $484 million in ETF inflows in the past week and $166.8 million over the past month, with April's latter half seeing sustained inflow momentum, particularly into Bitcoin. The chart reflects a sharp uptick in flows starting mid-April, peaking around April 22–23, when ETF products saw some of the highest daily gains in months. With a strong $8.09 billion logged in December and a rebound from February’s $3.3 billion drawdown, institutional capital is once again favouring crypto, especially Bitcoin ETFs, which now account for over $3 billion in recent net flows. If this trajectory holds, it signals not just short-term bullishness but potentially a structural shift in capital allocation toward digital assets as core portfolio components.