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- Bitwise Holds $200K Bitcoin Target | Crypto Alpha Week 15 of 2025
Bitwise Holds $200K Bitcoin Target | Crypto Alpha Week 15 of 2025
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TL;DR
Ross Ulbricht to Speak at Bitcoin 2025
Bitwise Holds $200K Bitcoin Target
SEC Approves ETH Options for BlackRock ETF
Vitalik Buterin Outlines Ethereum Privacy Roadmap
Solana debuts Confidential Balances for enhanced privacy
Magic Eden acquires Slingshot to expand beyond NFTs
Neutron Mercury Upgrade Launches
Osmosis Becomes Bitcoin Secured Network
Rally Integrates Avalanche C-Chain
PumpSpace Expands to Avalanche
Pakistan appoints CZ as crypto advisor
Paul Atkins confirmed as SEC Chair
And much more!
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Bitcoin Highlights of the Week
Strategy, formerly MicroStrategy, disclosed $5.91 billion in unrealized Bitcoin losses for Q1 2025 after purchasing 80,715 BTC at an average price of $94,922. The firm has paused new acquisitions in Q2, keeping its total holdings at 528,185 BTC, roughly 3% of Bitcoin’s supply, valued at over $43 billion.
The halt follows lackluster demand for its equity offerings and Bitcoin’s 11.82% drop, marking its worst quarterly performance since 2018. Broader market turmoil driven by geopolitical tariffs also dragged MSTR shares down 8%, compounding the firm’s unrealized losses and signaling investor caution amid ongoing macroeconomic volatility.
Ross Ulbricht, founder of Silk Road and long-time symbol of the “Free Ross” movement, will speak at Bitcoin 2025 in Las Vegas. This will be his first public appearance as a free man. Pardoned by former President Trump on January 21, 2025, Ulbricht’s release ends a decade-long campaign against his double life sentence.
His return marks a major moment for the Bitcoin community, which has long viewed him as a pioneer and freedom advocate. Ulbricht’s presence is expected to energize the event and reinforce Bitcoin’s core ideals of liberty and decentralization.
A new bill in New York, Assembly Bill A7788, seeks to authorize state agencies to accept Bitcoin, Ethereum, Litecoin, and Bitcoin Cash for payments including taxes, fines, and fees. Introduced by Assemblyman Clyde Vanel, the bill reflects a rising trend in state-level crypto legislation amid national momentum under the Trump administration.
If passed, it would allow the state to charge a service fee to cover transaction-related costs. This is New York’s second major crypto legislative effort in recent weeks, signaling growing institutional interest in integrating digital assets into the public financial system.
Russia and China have reportedly begun settling energy transactions using Bitcoin, signaling a major shift away from the U.S. dollar. This move, highlighted by VanEck’s Matthew Sigel, is part of a broader effort by countries to reduce reliance on U.S. financial systems.
Cryptocurrency attorney Sasha Hodder emphasized that this development could mark the beginning of the end for the dollar’s dominance in global trade. Additionally, countries like Bolivia and France are exploring similar initiatives, further advancing Bitcoin’s role as a functional monetary tool and potentially undermining the dollar's global reserve status.
Bitwise has reaffirmed its $200K Bitcoin price prediction for 2025, despite growing global trade tensions. Matt Hougan, the firm’s chief investment officer, pointed to a historical correlation between a weakening U.S. dollar and Bitcoin’s strength.
Hougan suggests that the ongoing trade disruptions under President Trump’s administration could accelerate Bitcoin’s growth, as dollar weakness creates opportunities for alternative assets. He also predicts a shift toward a more fractured global reserve system, with Bitcoin and gold gaining prominence. This follows news of Russia and China reportedly settling energy trades in Bitcoin.
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Ethereum Highlights of the Week
The U.S. SEC has approved options trading for BlackRock’s iShares Ethereum Trust (ETHA), a pivotal moment for Ethereum's integration into traditional finance. This decision, tied to a Nasdaq ISE filing from July, enables institutional investors to access Ethereum with more sophisticated tools like risk hedging and leveraged exposure.
The approval significantly boosts Ethereum's legitimacy in regulated markets, signaling growing institutional confidence and interest. As financial giants like BlackRock deepen their crypto footprint, Ethereum continues to bridge the gap between digital assets and legacy systems, setting the stage for broader mainstream adoption in 2025 and beyond.
Ethereum co-founder Vitalik Buterin has released a detailed roadmap to enhance user privacy across the Ethereum ecosystem. His proposals include integrating privacy tools like Privacy Pools into wallets with default shielded transactions, revamping DeFi architecture with one address per app, and adding protocol upgrades like EIP-7701 and FOCIL to improve censorship resistance and account abstraction.
Buterin also advocates replacing current RPC systems with Trusted Execution Environments and, eventually, Private Information Retrieval systems. These updates aim to make Ethereum more private without compromising user experience or requiring separate privacy wallets.
HashKey has secured regulatory approval from Hong Kong’s Securities and Futures Commission to offer ETH staking services, becoming one of the first licensed platforms in the region to do so. This milestone enables HashKey to support staking for spot Ether ETFs, allowing investors to earn passive income while holding ETH or ETF shares.
The move follows favorable guidance from both the SFC and China’s CSRC, signaling strong institutional support. While Hong Kong leads, the U.S. still prohibits staking within its spot ETH ETFs, though analysts anticipate changes under the current pro-crypto administration.
Cosmos has launched Eureka, a major upgrade to its Inter-Blockchain Communication (IBC) protocol, enabling native interoperability with Ethereum. This removes the need for bridges and allows developers to build multichain apps across both ecosystems without liquidity fragmentation.
Eureka’s distribution zone lets users access IBC’s full network via Cosmos Hub. Early use cases include Bitcoin staking via Babylon and DeFi trading with Elys. Future integrations will bring multichain features to dYdX and real-world asset tokenization through Mantra. Cosmos aims to establish IBC as a universal interoperability standard, driving $3B in monthly cross-chain volume.
A DeFi whale suffered a $74 million loss after Ethereum’s rapid 20% price drop triggered liquidation on Sky (formerly MakerDAO). The loan, backed by a massive ETH collateral, was forcefully liquidated when the protocol’s threshold was breached. As ETH fell to $1,431, Sky’s automated mechanism sold off the whale’s collateral.
Other whales narrowly avoided similar fates by topping up collateral. If ETH drops below $1,200, over $324 million in loans on Sky face liquidation. The event underscores the risks of overleveraged positions and the systemic shock potential in volatile DeFi lending environments.
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Solana Highlights of the Week
Solana developers have launched “Confidential Balances,” a new privacy-focused token extension powered by zero-knowledge proofs. The upgrade allows users to encrypt balances, conduct private transfers, and mint or burn tokens discreetly. It’s tailored for institutional-grade compliance while preserving Solana’s sub-second finality.
The system leverages homomorphic encryption and is currently implementation-ready for Rust backends and Wallets-as-a-Service. Confidential Balances expands on 2024’s Confidential Transfers and is designed for financial applications like payroll and B2B transactions. JavaScript ZK-proof libraries, due later this year, will further ease browser and mobile wallet integration, accelerating adoption across privacy-conscious sectors.
A group of former Kraken executives, led by ex-CSO Joseph Onorati, has acquired commercial real estate firm Janover, signaling plans to build a Solana treasury. The strategy includes acquiring SOL, running validators, and staking. The leadership team also includes ex-Kraken engineers and legal officers.
Following the deal, Janover’s stock surged 840% on April 7. The firm raised $42 million via convertible notes from investors including Pantera and Kraken. Janover, which already accepts crypto payments, now positions itself among public firms adopting digital assets for treasury management amid growing interest in crypto exposure via traditional equities.
The M^0 stablecoin platform is extending its chain-agnostic infrastructure to Solana, allowing for customizable, interoperable digital dollar deployments. KAST, a neobank leveraging stablecoins, will be the first to utilize this Solana-based infrastructure to launch branded stablecoin projects.
The expansion showcases Solana's growing ecosystem and M^0’s commitment to providing programmable stablecoin solutions. Through the platform, KAST plans to tokenize customer deposits and offer savings-related products. The integration also ensures cross-chain functionality, facilitating seamless asset movement across networks with the use of the Wormhole bridge.
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