PA Daily | Trump's delay in trade policy has led to a surge in markets; Binance announces 17 "vote to remove" candidates
Reprinted from panewslab
04/10/2025·21DToday's news tips:
U.S. stocks close: Trump delays trade policy, Nasdaq soars 12%
White House: Tariff levels will drop to 10% during negotiations
Binance Wallet will host Mind Network (FHE) token generation event
Melania token team was revealed to cash out $4.2 million in 25 days
Tether Treasury issues 1 billion USDT in Tron Chain, and has issued 8 billion USDT so far this year
Regulatory/Macro
Pakistan plans to use surplus power for Bitcoin mining and AI data center construction
According to Reuters, the Pakistan Crypto Commission plans to use domestic surplus power to promote Bitcoin mining and AI data center construction to solve the problems of high electricity bills and energy surplus. The committee has negotiated with several mining companies and will determine the location of the mine based on the power supply. Previous news, market news: Pakistan appointed Zhao Changpeng as cryptocurrency strategy consultant.
Regarding the US's announcement to impose 125% tariffs on China, Foreign Ministry spokesman Lin Jian said that the US uses tariffs as a tool for extreme pressure, seriously infringing on the legitimate rights and interests of various countries, violating WTO rules, undermining the multilateral trading system and impacting the global economic order. He stressed that there is no winner in the tariff war, and China is unwilling to fight but is not afraid of fighting, and will never sit idly by and watch China's rights and interests be infringed or international rules are destroyed. If the US insists on promoting a tariff war, China will be with us to the end. Lin Jian pointed out that the US's hegemony at the expense of global interests will inevitably be stronger against the international community.
U.S. stocks close: Trump delays trade policy, Nasdaq soars 12%
Trump eased the implementation of reciprocal trade measures, the three major U.S. stock indexes soared, the Dow Jones Industrial Average closed up 7.87%, the S&P 500 rose 9.51%, and the Nasdaq Comprehensive index rose 12.16%. Tesla (TSLA.O) rose 22%, Apple (AAPL.O) rose 15%, and NVDA (NVDA.O) rose 18%. Among blockchain concept stocks, MARA Holdings (MARA) rose 17.02%, Strategy (MSTR.O) rose 24.76%, and Coinbase (COIN.O) rose 16.91%. US President Trump said: The record-breaking performance of the stock market should continue.
White House: Tariff levels will drop to 10% during negotiations
Trump posted on social media that, given that more than 75 countries have called representative agencies of the United States to negotiate with issues related to trade, trade barriers, tariffs, exchange rate manipulation and non-monetary tariffs to find solutions, I have approved the implementation of a 90-day suspension for these countries, which applies to reciprocal tariffs. During this period, general tariffs will be reduced to 10%, and the suspension measures will take effect immediately. The 90-day tariff suspension does not apply to U.S. tariffs against Mexico and Canada. A spokesman for the White House said that tailor-made negotiations will continue, and the tariff levels will be reduced to a general 10% during the negotiations. The White House posted on x that it would suspend 90 days and reduce reciprocal tariffs on most countries to 10%, and take effect immediately.
Viewpoint
Founder of Ethereum Newsweek: If ETH is not considered a currency, its value will approach zero
Evan Van Ness, founder of Ethereum News Weekly, posted on a social platform that if ETH does not have "monetary attributes" and premium, its value will return to zero according to the discounted cash flow model, which will not only depreciate the fiat currency, but will also continue to weaken in the crypto market. He pointed out that the rise in ETH prices is the prerequisite for promoting ecological adoption, and the lack of monetary status will weaken the Ethereum Foundation's finances and affect client development and platform adoption. He finally emphasized: "ETH is currency."
glassnode: If BTC falls below $72,000, it may face greater downside risks
According to glassnode's analysis, the price of Bitcoin has fallen below two important long-term moving averages - the 111-day moving average ($93K) and the 200-day moving average ($87K), and has fallen to the 365-day moving average ($76K). These moving averages are usually seen as important support levels for the market, and the current breakdown may mean that market sentiment is changing. The cost price for short-term holders is about $93K, and the Bitcoin price is currently fluctuating in the range of $131K to $72K, but is close to the test lower limit of $72K. If it falls below this level, it may hit short-term investor confidence and lead to further price declines. In addition, Bitcoin has deeper support areas around $65K and $71K, but these positions are in a low liquidity area. If the price falls into this range, it may cause large fluctuations and attract long-term investors to buy at the bottom.
Project News
Binance Wallet will host Mind Network (FHE) token generation event
Binance Wallet announced that it will cooperate with Mind Network to hold the ninth exclusive token generation event (TGE) through PancakeSwap from 19:00 to 20:00 Beijing time on April 10. The event will be held on the BNB smart chain, with a total raised amount of US$750,000, and the token price is $0.015 per coin (priced in BNB). It is planned to issue 50 million FHE tokens, accounting for 5% of the total supply, and the maximum subscription limit for a single user is 3 BNBs. In addition, $10 million will be used for future marketing promotion.
Bithumb will be launched on Babylon (BABY) won trading market
South Korean exchange Bithumb announced that it will launch Babylon (BABY) in the Korean won market. The supported network is Babylon network and does not support recharges on other networks. Recharge and withdrawal are expected to open at 19:00 on April 10.
Starknet announces STRK Staking v2 has been launched on testnet
Starknet announced that its STRK Staking v2 has been launched on the test network, and validators and client can familiarize themselves with the relevant content in advance and prepare for the main network launch. It is reported that the main network is scheduled to be launched within this quarter. Previous news, Starknet will soon launch the STRK Staking V2 voting, and plans to launch the test network within a few weeks.
Melania token team was revealed to cash out $4.2 million in 25 days
According to Lookonchain monitoring, the Melania ($MELANIA) token team has continuously added and withdrawn liquidity through 8 wallets in the past 25 days, selling a total of 6.72 million MELANIA and cashing out 34,168 SOLs, which is approximately US$4.2 million.
Binance is expected to suspend the token recharge and withdrawal services of Filecoin (FIL) network at 06:00 on April 11, 2025 (East Eighth District time) to support its network upgrade. The project party will conduct network upgrades at 07:00 on April 11, 2025 (East Eighth District time).
According to Binance Square, Binance has announced the second round of "Vote to Delist" candidate projects, including FTT, ZEC, JASMY, STPT, ARK, ARDR, GPS, MBL, PERP, NKN, WING, LTO, FLM, BSW, ALPACA, VOXEL and PDA. Earlier today, Binance launched the second round of "voting removal" mechanism, and the voting will last until April 17.
Wayfinder to issue 5 million PROMPT tokens through Kaito Dashboard
The Wayfinder Foundation tweeted that the KaitoAI social mission plan has completed snapshots and officially ended on April 8, and 5 million $PROMPT tokens will be distributed through Kaito Dashboard. Among them, 4 million will be allocated to "Emerging Yappers" with 90 Yaps and less than 1,100 fans, and the remaining 1 million will be rewarded to users who have not met the standard but have contributed. Eligible users holding $KAITO can also receive an additional 30% bonus.
M^0 stablecoin platform launches Solana, KAST will issue the first digital USD based on M^0
According to M^0 official X account, its stablecoin platform has now been launched on Solana network. The first partner KAST will issue KAST Dollar based on the M^0 architecture, focusing on payment and savings scenarios. Other integrators include Spree Finance, Squads Protocol, Jito and Perena. M^0 supports developers to build branded and feature-rich digital dollar solutions through its $M extension framework.
The stablecoin of the Synthetix ecosystem, sUSD, has continued to dean anchor recently, and the degree of dean anchor has now expanded to more than 10%, and sUSD is now at $0.8946. The market value of sUSD stablecoin is currently about US$27 million. Synthetix founder Kain Warwick once tweeted on April 2 to respond to users’ concerns about the dean of sUSD stablecoin, saying that “Synthetix has not declined” and explained the background of sUSD fluctuations by reviewing the history of stablecoin. He pointed out that sUSD does fluctuate more than USDT and DAI, but its design mechanism is different, which is still normal. He also reviewed the evolution of stablecoins since the birth of USDT, bitUSD and Nubits in 2014, emphasizing that even centralized stablecoins such as USDC have significantly deaned.
Important data
Deribit official said that more than US$2.59 billion of crypto options will expire at 16:00 Beijing time on April 11. Among them, the nominal value of Bitcoin options is US$2.32 billion, the Put/Call ratio is 0.97, and the maximum pain point price is US$82,000; the nominal value of Ethereum options is US$270 million, the Put/Call ratio is 0.91, and the maximum pain point price is US$1,750.
According to CryptoQuant, Bitcoin spot trading volume fell from its February 3 high of $44 billion to $10 billion at the end of the first quarter, a 77% decline. At the same time, the spot trading volume of altcoins fell from US$122 billion to US$23 billion, a drop of more than 80%. A significant decline in trading volume indicates that investors are less involved due to market uncertainty or fear. Despite the decline in overall trading volume, Binance's market share continued to grow, with its average daily spot trading volume of Bitcoin rising from 33% on February 3 to 49% at the end of the first quarter, and the total crypto market trading share was close to 50%. In addition, the average daily spot trading volume of Binance's altcoins also increased from 38% to 44%. The trading activity of major altcoins such as BNB, TON and EOS on Binance remains high. Previous news, data: Binance BTC reserves have surged by more than 22,000 in 12 days.
According to @ai_9684xtpa monitoring, the Fetch.ai team's multi-sign address once again transferred 15 million FETs to the recharge address of DWF Labs on Binance after five months, which is approximately US$6.58 million at the current price. Over the past year, the address has transferred a total of 40 million FETs to the exchange, worth approximately US$43.17 million.
Tether Treasury issues 1 billion USDT in Tron Chain, and has issued 8 billion USDT so far this year
According to Lookonchain monitoring, Tether Treasury issued an additional $1 billion USDT on Tron four hours ago. Since 2025, Tether has issued a total of USDT of USD 8 billion on the Tron chain and destroyed USD 1 billion on the Ethereum chain.
Financing
Magic Eden acquires decentralized trading platform Slingshot
NFT platform Magic Eden has completed the acquisition of decentralized trading platform Slingshot. Magic Eden said that the move will promote its vision of building a cross-chain asset trading platform, achieving a trading experience that supports 8M+ tokens, covers all chains (including upcoming Bitcoin) without cross-bridges or centralized exchanges.
Web3 social media platform Wunder.Social completes $50 million in financing
According to CoinDesk, Web3 social media platform Wunder.Social announced a $50 million financing round led by Rollman Management. Wunder.Social said in the announcement that the project uses blockchain technology to verify user identity, thereby eliminating robots and sharing advertising revenue with users, allowing users to fund their careers they care about. The company plans to make a token offering later this month, and potential users can register on the company's website. The project also announced that former TikTok marketing director Ryan Martin has joined Wunder.Social as chief marketing officer.
