- Cryptocurrencies market cap holds firm at $3.1 trillion on Tuesday, with liquidity trickling down towards altcoins.
- Bitcoin price stagnates just above the $95,000 level, with Ethereum and Cardano posting superior gains in the last 24 hours.
- Blackrock’s IBIT ETF posted $1 billion inflows on Monday, outweighing large redemptions from Fidelity and Ark Invest.
Cryptocurrencies market capitalization consolidates above the $3 trillion mark on Tuesday, as US JOLTs data raises hopes of imminent rate cuts.
As investor risk appetite grows, altcoins are attracting more liquidity as Bitcoin price stagnates at $95,000, despite a record inflows from Blackrock’s IBIT ETF.
Bitcoin market update:
Bitcoin price rose by another 1% on Tuesday, advancing towards $95,500 before hitting a sell-wall.
Chart of the day: Blackrock’s IBIT ETF set record with $970M single-day inflow
Bitcoin ETFs have been experiencing a buying spree for the last eight days of trading, dating back to April 14.
Blackrock’s IBIT ETF posted $1 billion inflow on Monday, while large redemptions from Fidelity and Ark Invest saw aggregate deposits drop to $591 million.
Bitcoin ETF Flows, April 29, 2025 | Source: Farside
Demand from market-leading Blackrock could potentially prompt other participants into buying mode in the coming days.
Altcoin market updates: Ethereum and Cardano skip ahead of BTC as market momentum strengthens
After week-long consolidation, mega cap altcoins broke above key resistance zones on Tuesday. Ethereum and Cardano stood out with 2% gains, respectively, exceeding Bitcoin’s 0.6% uptick at press time. With markets showing stronger upside momentum for altcoins than BTC, this suggests that investors are displaying higher-risk appetite.
Crypto market performance, April 29 | Source: Coingecko
Among the top 20 ranked cryptocurrencies, Bitcoin Cash (BCH) led the gainers with a 6% rally, as ongoing controversy surrounding Monero (XMR) drives market interest towards Privacy coins.
Prominent Real World Asset protocol, Hyperliquid also posted a significant 18.4% in gains, signalling increased demand for tokenized instruments.
Crypto news updates:
Circle obtains Abu Dhabi approval to expand stablecoin operations in Middle East and Africa
Circle has received In-Principle Approval (IPA) from the Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM) to operate as a regulated money services provider across the Middle East and Africa. The approval allows Circle to progress toward securing a full Financial Services Permission (FSP), enabling broader access to its USDC stablecoin and digital asset services in the region.
The IPA follows Circle’s incorporation within ADGM in December 2024 and builds on its ongoing collaboration with regional innovation hubs such as Hub71. This regulatory clearance forms a key part of Circle’s broader expansion strategy aimed at advancing stablecoin adoption in compliant frameworks across emerging markets.
1inch launches on Solana, plans cross-chain swaps with ten supported networks
1inch has deployed its Fusion protocol on Solana, enabling MEV-protected token swaps for over 1 million Solana-based assets. The launch includes six developer APIs and a Dutch auction-based system designed to reduce slippage and improve liquidity for traders operating within the Solana ecosystem.
Following strong DeFi activity on Solana in Q1 2025, 1inch now aims to roll out cross-chain swap functionality connecting Solana with ten other networks. The move is intended to unify fragmented liquidity pools and streamline decentralized trading across multiple blockchains.
