Ethereum transfer activity has climbed back to all-time high territory, with the seven-day average topping 1.3 million transactions again. The level matches the prior peak recorded in mid-February, according to CryptoQuant. The jump points to robust on-chain usage, as adoption across DeFi and scaling solutions remains elevated.

World Liberty Financial said liquidation concerns are unwarranted after depositing 5 billion WLFI tokens worth about 429 million dollars as collateral and borrowing more than 75 million USDC on WLFI Markets. The project said it can add collateral if needed, while users flagged strained USDC liquidity and a planned vote next week on phased token unlocks.

Bitcoin treasury firm Nakamoto (NAKA) is preparing a reverse stock split in the range of 1-for-20 to 1-for-50 as it looks to lift its share price and stay compliant with Nasdaq's $1 minimum bid requirement, CoinDesk reported. The stock recently traded around $0.22, about 99% below its 2025 peak. Nakamoto has also filed to register more than 400 million shares for resale by existing holders and set an overall cap of roughly $7 billion for future securities issuance. The company recently sold 5% of its Bitcoin holdings and now holds 5,058 BTC.

Stablecoin supply on the Ethereum network has climbed to a record $180 billion, giving Ethereum roughly 60% of the total market, according to Token Terminal data. Beyond the headline number, the trend points to a continued concentration of liquidity and financial activity on Ethereum. Stablecoins are the main settlement asset across crypto, widely used for trading, DeFi, and cross-platform transfers. As issuance expands, on-chain activity typically rises with it. The latest high suggests more capital is not only entering crypto, but remaining anchored in Ethereum's infrastructure. Over the past three years, stablecoin supply on Ethereum has increased by about 150%, reinforcing the network's role in large-scale financial flows where liquidity depth, interoperability, and reliability are central. The concentration becomes even more notable when Ethereum-compatible networks and layer-2s are included, extending Ethereum's influence across a broader set of rails for stablecoin movement. Tokenized real-world assets are also contributing to the shift. Financial institutions are increasingly using Ethereum to issue blockchain-based versions of traditional instruments, tightening the link between traditional finance and crypto markets. Token Terminal estimates as much as $1.7 trillion in new capital could move into blockchain ecosystems over the next four years. If Ethereum sustains its current positioning, a meaningful share of those inflows could end up within its orbit. This dynamic is not a price call. It's an indicator of the scale of financial activity that could continue to build around Ethereum as banks and asset managers test tokenized funds and blockchain-based systems. The $180 billion milestone doesn't settle the market's next direction, but it does clarify today's structure: stablecoin liquidity remains heavily centered on Ethereum, deepening its role as core infrastructure for digital finance.

Japan has formally brought cryptocurrencies under the Financial Instruments and Exchange Act, effectively classifying crypto tokens as financial products. The shift introduces tighter market conduct and issuer obligations, including bans on insider trading based on non-public information and annual disclosure requirements for issuers. Authorities also plan tougher enforcement: operating without a license can carry a maximum prison term of up to 10 years, and fines can reach ¥10 million. The move raises a broader question for global regulators: if other countries adopt Japan's approach, would it meaningfully improve crypto market safety?

Bank of America says global central banks now hold more gold than US Treasuries, underscoring a turn toward hard assets as geopolitical and macro uncertainty reshapes reserve management. BofA Global Research describes the shift as a notable change in real time: for decades, US Treasuries were widely viewed as the premier safe-haven reserve asset thanks to deep liquidity and confidence in the US financial system. Gold, while a longstanding store of value, typically played a secondary role. The build-up in official-sector gold reserves points to heightened sensitivity to inflation, interest-rate volatility, sanctions risk and long-term currency stability. Because gold is not tied to any single sovereign credit system, it can appeal to policymakers looking to reduce exposure to concentrated dollar-based assets and cushion reserves against market shocks. The move does not imply Treasuries have lost their role in global reserves, but it signals a broader diversification of confidence across assets. The theme has implications beyond bullion. Higher gold allocations can be read as preparation for a less predictable financial landscape, a signal markets across commodities, traditional finance and crypto tend to watch closely. For crypto, the message is largely symbolic: even the world's largest institutions are seeking alternatives to legacy reserve models, with diversification and resilience increasingly driving allocation choices.

Bitcoin treasury company Nakamoto (NAKA) is turning to a standard Wall Street tactic to shore up its battered share price and keep its Nasdaq listing. In a preliminary proxy statement (Schedule 14A), the company said it is seeking shareholder approval for a reverse stock split, with a consolidation ratio to be set between 1-for-20 and 1-for-50, after the stock slid to about $0.22—roughly 99% below its May 2025 peak. A reverse split reduces the number of shares outstanding while lifting the share price proportionally—such as converting 20 shares priced at $0.20 into one share at $4. The move does not change the company's underlying value, but it is commonly used to meet Nasdaq's $1 minimum bid requirement and avoid delisting. Nasdaq rules require listed companies to maintain a bid price of at least $1 per share, and those that fail to regain compliance within a set period can be removed from the exchange. Nakamoto has also been managing liquidity, recently selling about 5% of its bitcoin holdings. The company now holds 5,058 BTC. Other bitcoin treasury firms have taken similar steps, including Strive Asset Management earlier this year. The broader group of DAT shares has been hit hard in recent months, tracking bitcoin's slide to roughly $70,000 from above $126,000 in October. Separately, Nakamoto filed a Form S-3 registering more than 400 million shares for potential resale by existing investors. The registration does not raise new capital, but it could add a significant overhang on the stock. The company also has a shelf registration permitting up to roughly $7 billion in future securities issuance, distinct from an at-the-market (ATM) program of up to approximately $5 billion that would allow it to sell newly issued shares into the market over time.

Former UK Chancellor of the Exchequer Philip Hammond has resigned as chairman of cryptocurrency custodian Copper, according to ME News. Former Flow Traders CEO Mike Kuehnel will take over the role. The board change comes as Copper pivots its business focus to the United States and pursues regulatory approval there. The company has already begun preliminary talks about a potential initial public offering. Copper failed to secure registration in the UK in December 2024 and subsequently obtained a license in Switzerland. Its latest financial report shows a $40 million loss from its UK operations. Former BNY executive John Meserve is also set to join the board as a nonexecutive director.

Huoxing Finance reports that Hyperinsight data show Abraxas Capital's two addresses—the largest crude oil short holder on the Hyperliquid platform—closed all WTIOIL and BRENTOIL short positions on April 10, unwinding roughly $160 million in exposure. The average exit prices were about $95 for WTIOIL and $95.5 for BRENTOIL, generating an estimated $10.15 million profit for the full holding period. After the closeout, the whale has not opened any new large positions. Current main holdings include a $20.5 million BTC long and a $30.8 million GOLD short. The addresses began building sizeable crude oil shorts on March 26, with the position peaking at $160 million. Following the recent ceasefire announcement, the trade moved from an unrealized loss of about $9.7 million into profit, with gains reportedly swelling to nearly $100 million before steady profit-taking started yesterday afternoon. Addresses: 0x5b5d51203a0f9079f8aeb098a6523a13F298C060; 0xb83de012dba672c76a7dbbbf3e459cb59d7d6e36