{"id":128481,"date":"2025-05-02T19:21:14","date_gmt":"2025-05-02T19:21:14","guid":{"rendered":"http:\/\/cryptospotters.net\/?p=128481"},"modified":"2025-05-02T19:21:14","modified_gmt":"2025-05-02T19:21:14","slug":"bitcoin-etfs-govt-adoption-to-drive-btc-to-1m-by-2029-finance-redefined","status":"publish","type":"post","link":"http:\/\/cryptospotters.net\/?p=128481","title":{"rendered":"Bitcoin ETFs, gov\u2019t adoption to drive BTC to $1M by 2029: Finance Redefined"},"content":{"rendered":"

Source: Cointelegraph.com NewsThe cryptocurrency market continued its recovery in the past week as the total crypto market capitalization breached the $3 trillion mark for the first time since the beginning of March.
\nBitcoin (BTC) rose to an over two-month high of $97,300 last seen at the end of February, before the \u201cLiberation Day\u201d tariffs announcement in the US, bolstering analyst predictions for a rally driven by \u201cstructural\u201d institutional and exchange-traded fund (ETF) inflows into the world\u2019s first cryptocurrency.
\nRisk appetite continued rising among crypto investors, as Chinese state-linked news outlets indicated that the Trump administration has quietly contacted Beijing to discuss tariff reductions.
\nTotal crypto market cap, 1-year chart. Source: CoinMarketCapIn the wider crypto space, Ethereum developers proposed a new token standard to improve the interoperability of the world\u2019s second-largest blockchain network.
\nBitcoin to $1 million by 2029 fueled by ETF and gov\u2019t demand \u2014 Bitwise exec
\nBitcoin\u2019s expanding institutional adoption may provide the \u201cstructural\u201d inflows necessary to surpass gold\u2019s market capitalization and push its price beyond $1 million by 2029, according to Bitwise\u2019s head of European research, Andr\u00e9 Dragosch.
\n\u201cOur in-house prediction is $1 million by 2029. So that Bitcoin will match gold’s market cap and total addressable market by 2029,\u201d he told Cointelegraph during the Chain Reaction daily X spaces show on April 30.
\nGold is currently the world\u2019s largest asset, valued at over $21.7 trillion. In comparison, Bitcoin\u2019s market capitalization sits at $1.9 trillion, making it the seventh-largest asset globally, according to CompaniesMarketCap data.
\nTop 10 global assets by market capitalization. Source: CompaniesMarketCapFor the 2025 market cycle, Bitcoin may surpass $200,000 in the \u201cbase case\u201d and $500,000 with more governmental adoption, Dragosch said.
\nContinue reading
\nEric Trump: USD1 will be used for $2 billion MGX investment in Binance
\nAbu Dhabi-based investment firm MGX will use a stablecoin linked to US President Donald Trump\u2019s family to settle a $2 billion investment in Binance, the world\u2019s largest cryptocurrency exchange.
\nThe World Liberty Financial USD (USD1) US dollar-pegged stablecoin was launched by the Trump-associated crypto platform World Liberty Financial (WLFI) in March 2025.
\nMGX will use the USD1 stablecoin for its $2 billion investment in the Binance exchange, according to an announcement by Eric Trump during a panel discussion at Token2049 in Dubai. Trump, the son of the president, serves as executive vice president of the Trump Organization.
\nSource: CointelegraphMGX announced its investment in Binance on March 12, marking the first institutional investment in the exchange and one of the biggest funding deals in the entire Web3 industry.
\nAt the time, Binance declined Cointelegraph\u2019s request to disclose what stablecoin was used in the transaction.\u00a0\u00a0
\nThis marks the Abu Dhabi-based investment firm\u2019s first venture into the cryptocurrency space.
\nContinue reading
\nEthereum to simplify crosschain transactions with new token standards
\nEthereum developers are working to improve blockchain interoperability with two new token standards: ERC-7930 and ERC-7828.
\n\u201cThere\u2019s no standard way for wallets, apps, or protocols to interpret or display this information,\u201d decentralized finance (DeFi) ecosystem development organization Wonderland wrote in a May 1 X post. Wallets, decentralized applications (DApps), block explorers and smart contracts follow different rules.
\n\u201cThe result? A messy, inconsistent experience that breaks crosschain UX,\u201c Wonderland stated.
\nWonderland is a group of developers, researchers and data scientists focused on improving the Ethereum DeFi ecosystem. The organization partnered with multiple DeFi protocols, including Optimism, Aztec, Connext and Yearn.
\nWonderland\u2019s ERC-7828 and ERC-7930 explanation post. Source: WonderlandIn the post, the organization shared what was discussed at a recent Ethereum Foundation interoperability working group call. Teddy from Wonderland explained that the current goal is to finalize both token standards within the next two weeks. He added:
\n\u201cWe badly need feedback on the ETH-Magicians forum.\u201d
\nContinue reading
\nCrypto hackers hit DeFi for $92 million in April as attacks double from March
\nCryptocurrency hackers stole more than $90 million in April, dealing another blow to the industry\u2019s mainstream reputation despite ongoing efforts to improve cybersecurity.
\nHackers made off with $92 million of digital assets across 15 incidents in April, according to an April 30 research report by blockchain cybersecurity firm Immunefi.
\nThe total marks a 124% month-over-month increase from March, when hackers stole $41 million.
\nCrypto stole in April 2025. Source: ImmunefiThe month\u2019s largest hack on open-source platform UPCX accounted for most of the damage in April, with over $70 million in losses, while KiloEx lost $7.5 million as April\u2019s second-largest hack.
\nThe KiloEx exploiter returned the stolen funds just days after the attack occurred.
\nAll of April\u2019s reported attacks targeted decentralized finance (DeFi) platforms. Centralized exchanges reported no incidents during the month, the report noted.
\nTop 10 losses in April. Source: ImmunefiImmunefi, which says it helps protect $190 billion in user funds, has paid more than $116 million in bounties to white hat hackers.
\nContinue reading
\nCrypto group asks Trump to end prosecution of crypto devs, Roman Storm
\nThe crypto lobby group, the DeFi Education Fund, has petitioned the Trump administration to end what it claimed was the \u201clawless prosecution\u201d of open-source software developers, including Roman Storm, a creator of the crypto mixing service Tornado Cash.
\nIn an April 28 letter to White House crypto czar David Sacks, the group urged President Donald Trump \u201cto take immediate action to discontinue the Biden-era Department of Justice’s lawless campaign to criminalize open-source software development.\u201d\u00a0
\nThe letter specifically mentioned the prosecution of Storm, who was charged in August 2023 with helping launder over $1 billion in crypto through Tornado Cash. His trial is still set for July, and his fellow charged co-founder, Roman Semenov, is at large and believed to be in Russia.
\nThe DeFi Education Fund said that in Storm\u2019s case, the Department of Justice is attempting to hold software developers criminally liable for how others use their code, which is \u201cnot only absurd in principle, but it sets a precedent that potentially chills all crypto development in the United States.\u201d
\nThe group also called for the recognition that the prosecution contradicts the Treasury Department\u2019s Financial Crimes Enforcement Network (FinCEN) guidance from Trump\u2019s first term, which established that developers of self-custodial, peer-to-peer protocols are not money transmitters.\u00a0
\nSource: DeFi Education Fund\u201cThis kind of legal environment does not just chill innovation \u2014 it freezes it,\u201d they argued. The letter added that it also \u201cempowers politically-motivated enforcement and puts every open-source developer at risk, regardless of industry.\u201d
\nIn January, a federal court in Texas ruled that the Treasury overstepped its authority by sanctioning Tornado Cash.\u00a0
\nContinue reading
\nDeFi market overview
\nAccording to data from Cointelegraph Markets Pro and TradingView, most of the 100 largest cryptocurrencies by market capitalization ended the week in the green.
\nThe Virtuals Protocol (VIRTUAL) token rose over 103% as the week\u2019s biggest gainer, followed by the Solayer (LAYER) token, up over 29% during the past week.
\nTotal value locked in DeFi. Source: DefiLlamaThanks for reading our summary of this week\u2019s most impactful DeFi developments. Join us next Friday for more stories, insights and education regarding this dynamically advancing space.Read More<\/a><\/p>","protected":false},"excerpt":{"rendered":"

Source: Cointelegraph.com NewsThe cryptocurrency market continued its recovery in the past week as the total crypto market capitalization breached the $3 trillion mark for the first time since the beginning… <\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[5],"tags":[],"_links":{"self":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/128481"}],"collection":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=128481"}],"version-history":[{"count":0,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/128481\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=128481"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=128481"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=128481"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}