Crypto Industry News & Market Trends

US Dollar Index steadies near 98.50, all eyes on Fed rate decision

Finance　　US Dollar Index steadies near 98.50, all eyes on Fed rate decision　　The US Dollar Index (DXY), an index of the value of the US Dollar (USD) measured against a basket of six world currencies, currently trades near 98.65 during the Asian trading hours on Wednesday. The DXY holds steady as traders await a closely watched US Federal Reserve (Fed) interest rate decision later on Wednesday.　　The Fed is expected to hold the federal funds rate steady between 3.50% and 3.75%, where it has sat since January. This policy meeting is likely Chair Jerome Powells final session before a Fed Chair transition to nominee Kevin Warsh.　　Traders will closely monitor Jerome Powells press conference after the rate decision for hints on how the Fed may react to the risks ahead. If the US central bank maintains a hawkish tone regarding persistent inflation, this could boost the US Dollar against its rivals in the near term.　　“The question is what Powell is going to do, because he still holds the governor seat until 2028, so whether he chooses to resign after the expiry of the Chair term or if he stays on as a governor and as sort of a shadow Chair,” said Carol Kong,

04-29Industry

CHZ Leaps to Solana and Base: Omnichain Revolution

Tech　　CHZ Leaps to Solana and Base: Omnichain Revolution　　Sports-focused blockchain Chiliz is jumping to Solana and Coinbases (COIN) Ethereum layer-2 network Base to rapidly grow its fan token ecosystem. The company is transitioning to an “omnichain deployment” model by moving over 70 tokens to these chains. According to the announcement made on the X platform on Tuesday, the Omnichain Fungible Token (OFT) standard is being activated. This allows tokens to maintain a single supply on every supported chain, eliminating the need for wrapped tokens or fragmented liquidity pools. The move shows Chiliz is moving away from its own layer-1 network in pursuit of broader access.　　CHZ Omnichain Expansion and Fan Token Impact　　Chiliz launched its own layer-1 network in 2023 to host token trading. Fan tokens stand out as innovative tools that transform sports clubs‘ fan communities into digital assets. Tokens from European football giants like Paris Saint-Germain, Barcelona, Manchester City, and Juventus, along with other teams, form the backbone of this ecosystem. Fans use these tokens to interact outside the stadium; they get chances to win exclusive rewards and voting rights on small decisions like players’ warm-up jersey colors. OFT technology will increase trading efficiency by unifying liquidity. For a detailed review,

04-29Industry

AVAX Price Prediction: Institutional Accumulation Points to $13-16 Breakout Within 30 Days

Technical Neutrality Masks Underlying Strength　　AVAX currently trades in a state of technical equilibrium that often precedes significant directional moves. The token sits just above its lower Bollinger Band at $8.94, while momentum oscillators remain neutral with RSI hovering near the midpoint. This consolidation pattern has compressed volatility to levels typically seen before major breakouts.　　The clustering of key moving averages between $9.31 and $9.37 creates immediate resistance, but also establishes a clear breakout level. A sustained move above this zone would target the 200-day moving average at $12.52, representing a 36% advance from current levels.　　Smart Money Accumulation Signal　　Derivatives positioning reveals a stark contrast between institutional and retail sentiment. Professional traders maintain a 1.83 long-to-short ratio with 64.7% of positions betting on higher prices, significantly outpacing retails more modest 1.42 ratio. This divergence typically occurs when sophisticated capital accumulates during periods of retail uncertainty.　　The taker buy-to-sell ratio of 1.63 on major exchanges indicates persistent buying pressure despite sideways price action. Combined with stable open interest levels, this suggests position building rather than profit-taking or forced liquidation.　　Real World Asset Foundation　　According to analysts at Blockchain.news, AVAXs $1.3 billion in Real World Asset total value locked provides fundamental backing that distinguishes it from purely speculative

04-29Industry

Galaxy Digital Stock Jumps 5% Despite $216 Million Q1 Loss

Meanwhile, the firm said its $216 million net loss, alongside diluted and adjusted earnings per share of negative $0.49, largely reflected a roughly 20% contraction in the total cryptocurrency market capitalization during the first quarter.　　Its Treasury and Corporate alone posted an adjusted gross loss of $140 million and an adjusted EBITDA loss of $167 million. Overall, the companys adjusted EBITDA loss narrowed to $188 million from $518 million in the previous quarter.　　Digital Assets reported $49 million in adjusted gross profit. At the same time, its adjusted EBITDA came in at a loss of $19 million.　　“Despite the pullback in digital asset prices and activity, adjusted gross profit remained broadly stable, reflecting a shift in the business mix as recurring fee revenue and transaction income continue to scale and provide greater resilience in softer market conditions,” the press release read.　　Global Markets saw gross profit rise 3% quarter over quarter to $31 million. Asset Management and Infrastructure Solutions also contributed $18 million in adjusted gross profit during the first quarter of 2026.　　The firm ended the period with approximately $5.0 billion in assets under management and $3.2 billion in staked assets, marking a decline driven by asset depreciation.　　Despite the broader market downturn, the segment

04-29Industry

AVAX Price Prediction: Institutional Accumulation Points to $13-16 Breakout Within 30 Days

Technical Neutrality Masks Underlying Strength　　AVAX currently trades in a state of technical equilibrium that often precedes significant directional moves. The token sits just above its lower Bollinger Band at $8.94, while momentum oscillators remain neutral with RSI hovering near the midpoint. This consolidation pattern has compressed volatility to levels typically seen before major breakouts.　　The clustering of key moving averages between $9.31 and $9.37 creates immediate resistance, but also establishes a clear breakout level. A sustained move above this zone would target the 200-day moving average at $12.52, representing a 36% advance from current levels.　　Smart Money Accumulation Signal　　Derivatives positioning reveals a stark contrast between institutional and retail sentiment. Professional traders maintain a 1.83 long-to-short ratio with 64.7% of positions betting on higher prices, significantly outpacing retails more modest 1.42 ratio. This divergence typically occurs when sophisticated capital accumulates during periods of retail uncertainty.　　The taker buy-to-sell ratio of 1.63 on major exchanges indicates persistent buying pressure despite sideways price action. Combined with stable open interest levels, this suggests position building rather than profit-taking or forced liquidation.　　Real World Asset Foundation　　According to analysts at Blockchain.news, AVAXs $1.3 billion in Real World Asset total value locked provides fundamental backing that distinguishes it from purely speculative

04-29Industry

Bernstein Lowers IREN Target to $100: AI Outperform

Tech　　Bernstein Lowers IREN Target to $100: AI Outperform　　Bernstein analysts revised the price target for IREN stock from $125 to $100 but maintained the Outperform rating as the preferred stock among AI-focused Bitcoin miners. This downgrade stems from shrinking Bitcoin mining operations and an increase in share count due to recent share issuances; not from any weakening in AI targets. IREN is rapidly transforming from BTC detailed analysis operations to AI cloud services and will completely phase out crypto activities in the coming years. The massive deal signed with Microsoftla is the cornerstone of this strategic shift.　　IRENs Rapid Transformation from Bitcoin Mining to AI Cloud　　The company reduced Bitcoin mining to zero value in the model by upgrading its existing infrastructure with GPUs. This move provides protection against BTC futures volatility. The 4.5 gigawatt power assets in Texas, British Columbia, and Oklahoma support AI expansion and offer attractive valuation with undeveloped capacity.　　Technical and Financial Details of the Microsoft Deal　　IREN leased 77,000 of its 150,000 GPUs to Microsoft for five years; the contract generates $1.94 billion in annual revenue. While the remaining capacity is offered to spot cloud customers, an additional $400 million contract was signed in February. Purchases with Dell and low-interest

04-29Industry

Galaxy Digital Stock Jumps 5% Despite $216 Million Q1 Loss

Meanwhile, the firm said its $216 million net loss, alongside diluted and adjusted earnings per share of negative $0.49, largely reflected a roughly 20% contraction in the total cryptocurrency market capitalization during the first quarter.　　Its Treasury and Corporate alone posted an adjusted gross loss of $140 million and an adjusted EBITDA loss of $167 million. Overall, the companys adjusted EBITDA loss narrowed to $188 million from $518 million in the previous quarter.　　Digital Assets reported $49 million in adjusted gross profit. At the same time, its adjusted EBITDA came in at a loss of $19 million.　　“Despite the pullback in digital asset prices and activity, adjusted gross profit remained broadly stable, reflecting a shift in the business mix as recurring fee revenue and transaction income continue to scale and provide greater resilience in softer market conditions,” the press release read.　　Global Markets saw gross profit rise 3% quarter over quarter to $31 million. Asset Management and Infrastructure Solutions also contributed $18 million in adjusted gross profit during the first quarter of 2026.　　The firm ended the period with approximately $5.0 billion in assets under management and $3.2 billion in staked assets, marking a decline driven by asset depreciation.　　Despite the broader market downturn, the segment

04-29Industry

China Scores Another Currency Win Over The U.S. Dollar

NurPhoto via Getty Images　　Chinas drive to de-dollarize its trade with the rest of the world by replacing the U.S. dollar with its currency, the renminbi, has spread from into a commodity long dominated by the dollar, iron ore.　　The win for China came after a bruising seven-month dispute with the worlds biggest mining company, Australia-based BHP.　　Swapping Dollars For Renminbi　　Until last month all iron ore sold by BHP to China was priced in U.S. dollars but in future a small amount will be sold in renminbi.　　The breakthrough is very much the thin edge of a wedge which China has been trying to drive into its commodity purchasing arrangements with other countries for decades.　　Displacing the dollar with the renminbi can also be seen in oil trading and in a surge of borrowing in the Chinese currency by international banks which was reported last week to have reached record levels.　　According to London‘s Financial Times newspaper U.S. banks, led by Goldman Sachs, have been attracted to China’s offshore debt market by low interest rates.　　The shift is also seen as another example of investors and companies limiting their exposure to the uncertainties of doing business with the U.S.　　What happened in iron ore is a small example

04-29Industry

LetsExchange Integrates SafePal for Seamless Multi-Chain Crypto Swapping

LetsExchange, a non-custodial, instant cryptocurrency exchange platform supporting more than 5000 digital assets and 300+ blockchains, has disclosed its purposeful landmark collaboration with SafePal, a comprehensive, non-custodial crypto wallet. This integration has a strong purpose to expand the multi-chain crypto swapping via WalletConnect.　　After making a strategic partnership, users of both platforms enjoy swapping functionality at a broader level with seamless systematic working. Users will be able to get advantages in terms of connecting a wallet, choosing assets, executing swaps, and completing transactions. LetsExchange helps users in a straightforward flow of assets from wallet connection to swap completion in just a few steps. LetsExchange has released this news through its official X account.　　LetsExchange and SafePal Expand Global Access to Seamless Multi-Chain Crypto Swaps　　LetsExchange also supports enhancing execution quality and access to competitive rates. Furthermore, LetsExchange has an interesting figure of supporting digital assets of more than 5000, around 300+ networks with connections to more than 20 swap providers. This background reality aids users to wide token access, better pricing competition, improved liquidity options, and potentially stronger execution quality.　　Moreover, this alliance is going to expand the accessibility of users for multi-chain crypto swapping around the world. Cryptocurrency is rapidly gaining use in

04-29Industry

Bernstein Lowers IREN Target to $100: AI Outperform

Tech　　Bernstein Lowers IREN Target to $100: AI Outperform　　Bernstein analysts revised the price target for IREN stock from $125 to $100 but maintained the Outperform rating as the preferred stock among AI-focused Bitcoin miners. This downgrade stems from shrinking Bitcoin mining operations and an increase in share count due to recent share issuances; not from any weakening in AI targets. IREN is rapidly transforming from BTC detailed analysis operations to AI cloud services and will completely phase out crypto activities in the coming years. The massive deal signed with Microsoftla is the cornerstone of this strategic shift.　　IRENs Rapid Transformation from Bitcoin Mining to AI Cloud　　The company reduced Bitcoin mining to zero value in the model by upgrading its existing infrastructure with GPUs. This move provides protection against BTC futures volatility. The 4.5 gigawatt power assets in Texas, British Columbia, and Oklahoma support AI expansion and offer attractive valuation with undeveloped capacity.　　Technical and Financial Details of the Microsoft Deal　　IREN leased 77,000 of its 150,000 GPUs to Microsoft for five years; the contract generates $1.94 billion in annual revenue. While the remaining capacity is offered to spot cloud customers, an additional $400 million contract was signed in February. Purchases with Dell and low-interest

04-29Industry