1. Galaxy: A panoramic interpretation of the crypto lending market

Lending is a cryptocurrency use case, and they find strong product market fit both on and off-chain, with the market size of the entire category exceeding $64 billion at its peak. The lending market also plays an important role in building a financial ecosystem based on digital assets, enabling users to obtain liquidity of their assets to be deployed in DeFi and traded on-chain and off-chain. Click to read

2.Bitwise: Bitcoin’s extraordinary resilience

There is a notable fact: Bitcoin has kept its price flat for the past month. When I wrote this memo on April 14, Bitcoin was trading at $84,379. A month ago, it was priced at $84,317. This means a 0.07% return in 30 days. Click to read

3. Vitalik: How are AI and encryption changing privacy?

Recently, I have been increasingly concerned about improving the privacy of the Ethereum ecosystem. Privacy is an important guarantee for decentralization : whoever has the power to grasp the information, so we need to avoid centralized control of information. In the real world, people's concerns about centralized technology infrastructure are sometimes worried that operators will accidentally change rules or remove user platforms, but it is also common to worry about data collection. While the cryptocurrency space originated from projects like Chaum’s Ecash, which puts the protection of digital financial privacy first, it has recently underestimated privacy, and the reason is ultimately bad: Before the advent of ZK-SNARK technology, we could not provide privacy in a decentralized way, so we downplayed the importance of privacy and focused on other assurances we could provide at the time. Click to read

4. The system is crashing – Bitcoin may be the only way out

Something deeper is breaking down – it’s not something you can measure with emotion investigation. This is a collapse of structural trust. The idea that people believe somewhere is in control—whether it’s the Fed, the White House, or the global trade union—is gone. Last week, Trump imposed 145% tariffs on Chinese goods, rekindling the trade war. Market fluctuations. A recession alarm sounded. But Bitcoin has risen quietly and almost provocatively. Click to read

5. What keeps BTC prices stagnant?

Since April 9, BTC prices have been consolidating in the range of around $3,000, and the 200-day moving average (SMA) trend line remains an insurmountable resistance. Click to read