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• Alt Season: Tron, TRX, Spikes 10%; ZRX Gains 60%; STEPN Creates New Ath

• Russian Services To Comply with EU Sanctions: Binance Limits and Bends

• 21Shares to Launch World’s First BTC and ETH Spot ETFs, Fidelity Turns to Metaverse with New ETFs

• The launch of a token on Ethereum by Optimism TVL Hits A New All Time High

Alt Season: Tron(TRX) Jumps 10%, ZRX Gains 66%, STEPN Establishes New ATH

Two consecutive days of gains have ended with the market seeing heavy corrections. Both were down by 5% after two consecutive days. Tron (TRX), ZRX Protocol (ZRX) and STEPPN (GMT have seen a bounce in altcoins despite the bearish trend.

Tron (TRX) showed more than 10% gains after its founder Justin Sun announced the launch of “the world’s most decentralized stablecoin.” TRX retains 5% gains and now trades at $0.06820 after hitting highs of $0.07412.

Chart of Tron’s 24-hour prices (TRON). Source: Tradingview

ZRX, the native token of the 0x Protocol, spiked as much as 60% on April 21 – just hours after Coinbase (NASDAQ:) announced that its social marketplace for NFTs will utilize the 0x Protocol. ZRX is now trading at $0.893692 compared to its previous high of $1.17.

A five-day price graph for ZRX (0x Protocol). Source: Tradingview

STEPN (GMT), a “move-to-earn” token on the chain, is the biggest mover in the altseason, gaining more than 34,000% in the last 41 days.

The hype around STEPN’s recent earnings rewards has driven the price from $0.01 on March 9 to a record high of $3.45 on April 19. GMT trades now at $3.23

A three-month price graph of STEPN. Source: Tradingview

Flipsider:

• Altseason rallies may not be sustained due to the negative macro backdrop in crypto markets, as demonstrated by ZRX.

Russian Services are to be complied with EU Sanctions by Binance.

Following the EU’s fifth restrictive measure placed on Russia by the EU since the beginning of April, Binance, the world’s largest crypto exchange by trading volume, has moved to limit its service in the country.

Binance said on Thursday it would take measures to reduce its service in Russia. Russia is one of Binance’s largest markets.

Citizens and entities based in Russia with crypto holdings exceeding £10,000($10,900) will be given 90 days to complete verification for their accounts. After that, trading and deposit will be prohibited and withdrawals restricted.

Russia-linked Russian users who are not based in Russia, have crypto holdings under 10,000 Euro and have been through address checks will still be active.

Flipsider:

• Binance has announced that it has recovered $5.8 million worth of stolen funds from last month’s $525 million Bridge Hack.

Why you should care

Recent EU sanctions target crypto wallets, banks and other financial service providers in an effort to close loopholes which could permit Russians money to be moved abroad.

21Shares to Launch World’s First BTC and ETH Spot ETFs, Fidelity Turns to Metaverse with New ETFs

21Shares AG, a Swiss-based issuer of crypto ETPs and ETFs provider in collaboration with ETF Securities, has launched the world’s first Bitcoin and Ethereum spot ETFs in Australia.

ETFS 21Shares Bitcoin ETF & ETFS 21Shares Ethereum ETF will let Australians invest directly in BTC / ETH. On April 27, both funds will be available for investment. In addition, the Bitcoin fund “will track the price of Bitcoin in Australian dollars.”

Fidelity Investments, a retail brokerage firm and an ETF provider has introduced four new ETFs that are focused on investing in the growing trends. Three funds were launched that focused on ESG (environmental and social governance) and cryptocurrencies.

Fidelity’s financial education platform in the metaverse was also announced after the launch of the metaverse ETF. Fidelity has opened an eight-story virtual building in Decentraland, metaverse, to educate young investors about ETF investing.

Flipsider:

• Applications for spot were rejected by the U.S. Securities and Exchange Commission. Ark 21Shares – Bitcoin ETF.

Why you should care

Experts believe that the rise in adoption of cryptos is due to Spot ETFs which give investors access directly to it.

The launch of a token on Ethereum by Optimism TVL Hits a New All-Time Record

In a recent blog post, the Optimism team laid out plans for “A New Chapter” in the network’s progression. The plan involved a move towards “community ownership and governance,” hinting that it may soon issue a token.

Web3 networks as well as DeFi protocols have a lot in common when it comes to community ownership and governance. This governance structure can only be adopted by distributing a network token.

Coinbase, America’s largest crypto exchange, created a page to promote an Optimism token, further fueling speculations of a token launch. Rumours have led to the Total Value Locked, (TVL), being moved to a brand new ATH.

Data from DefiLlama shows that the TVL of Optimism reached a record $538 million. Each of the 30 projects within the Optimism chain has seen large surges. Synthetix contributed 39.97% to the TVL.

Total Value in Optimism Locked: DefiLlama

Flipsider:

• The last year has witnessed steady growth in optimism, with more than $17billion worth of transactions processed and $1 billion saved on gasoline fees.

Why you should care

Optimism is receiving new users. These people lock their assets to Optimism-related projects in order to get a chance to win an airdrop.

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