Daily News | ZKSync crashes abruptly, BTC briefly dips below $84,000

Daily Summary: Analysts forecast stablecoin supply to grow to $2 trillion by 2028; NASDAQ-listed Janover increases SOL holdings

According to data from Farside Investors, U.S. listed Bitcoin spot ETFs recorded a net inflow of $38.2 million yesterday. Ark’s ARKB fund had an inflow of $13.4 million, Grayscale’s BTC fund saw an inflow of $8.9 million. Ethereum spot ETFs, however, saw net outflows totaling $14.2 million, with Fidelity’s FETH losing $3.6 million and Grayscale’s ETHE seeing net outflows of $10.6 million.

Analysis: Stablecoin total supply projected to surge to $2 trillion by 2028

Standard Chartered analysts recently stated the stablecoin total supply could surge nearly tenfold from the current $230 billion to reach approximately $2 trillion by the end of 2028, due to anticipated official U.S. legislation regulating the sector. Analysts suggest this increased demand will create fresh demand for $1.6 trillion in short-term U.S. Treasuries over the next four years—sufficient to absorb all new short-term Treasury issuances expected during President Trump’s potential second term.

NASDAQ-listed Company Janover increases SOL holdings by approximately 80,000 tokens

NASDAQ-listed Janover Inc. announced via Globe Newswire the acquisition of another 80,567 SOL tokens, valued at approximately $10.5 million, marking the company’s third execution of its recently adopted digital asset treasury strategy. Following this purchase, Janover’s aggregate SOL holdings increased to 163,651.7 SOL, totaling about $21.2 million including staking rewards.

The company’s board approved a revised treasury reserve policy on April 4, authorizing the long-term accumulation of crypto-assets, starting with SOL. Janover intends to run one or more Solana validator nodes, engaging in network security and earning staking rewards.

Bank of America survey: 82% respondents anticipate a weakening global economy

According to Bank of America’s global fund manager survey, 82% of respondents foresee a weakening global economy—the highest figure recorded in 30 years. Meanwhile, 42% believe a recession is highly likely. Additionally, the survey highlighted a record number of global investors planning to decrease their allocation to U.S. equities.

Market analysis: ZKSync crashes, BTC continues fluctuating

Market Highlights

ZKSync experienced a sharp plunge following an abnormal minting event of approximately 110 million tokens, about 66 million of which were continuously sold off. ZKSync officials reported that an administrator account linked to an airdrop contract was compromised, with attackers gaining control and subsequently selling around $5 million worth of unclaimed ZK tokens. These recent token crashes have once again drawn regulatory attention to the crypto space.

NS (Sui Name Service) surged past $0.14, reaching a market cap above $70 million and increasing by 20.8% within 24 hours. While NS has seen considerable price appreciation this year, the jump wasn’t entirely driven by tokenomics but instead influenced by whale-backed movements. Analysts caution that this explosive rally, despite seemingly profitable for retail investors, carries significant risk. Whales’ accumulation and airdrop strategies could cause an unstable funding cycle in the market; in the event investors withdraw their NS tokens rapidly, whale short positions could quickly unravel, triggering intensified volatility.

Broad Market Conditions

BTC continues its volatile performance, briefly dropping below $84,000. Despite continued short-term fluctuations, technical patterns suggest BTC may still have room for further appreciation.

ETH followed the broader market downturn, briefly slipping beneath $1,600. ETF data also indicates persistent challenges and potentially subdued future performance.

Altcoins broadly fell, although RWA showed resilience; previously bullish sectors such as AI tokens led declines. Altcoins continue to exhibit a strong correlation with BTC movements.

Macro News: U.S. stocks edge lower as investors monitor tariff developments

U.S. stocks declined modestly Tuesday, showing muted performance compared to recent sharp swings. The VIX volatility index, known as Wall Street’s “fear gauge,” fell below 30 after peaking around 60 last week.

On market closing, the Dow Jones Industrial Average lost 155.83 points, down 0.38%; Nasdaq declined by 8.32 points, or 0.05%; and S&P 500 index shed 9.34 points, down 0.17%.

Investors remain focused on developments regarding potential trade policy moves under President Trump, alongside the latest wave of corporate earnings reports. The U.S. government announced investigations into imported chips and electronics, potentially paving the way for the imposition of new tariffs.