Ethereum (ETH) is experiencing a price decline, falling to levels not seen since 2020. CryptoQuant reports that a major reason for this decline is reduced activity on the Ethereum network, including a decrease in active user addresses and lower transaction fees. The Dencun upgrade led to less ETH being burned, causing ETH to become inflationary. This low burn rate and high inflation rate are contributing to downward pressure on ETH's price. As of the time of writing, ETH is valued at $1,790, marking a 4% daily decrease, and it is down 16% over the past month, and more than 60% since the peak of over $4,000.

CLS Global, a financial services firm in the UAE, was fined $428,059 after pleading guilty to market manipulation and wire fraud in US crypto markets. The charges stem from an FBI sting operation where CLS Global agreed to artificially inflate trading volumes for a fake crypto company called NexFundAI on Uniswap. CLS Global used an algorithm for wash trading, creating the illusion of genuine trading activity to attract investors. A CLS Global employee admitted to the wash trading practice in video conferences with undercover law enforcement. As part of the plea agreement, CLS Global is prohibited from participating in US cryptocurrency markets during its three-year probation and also faces a civil enforcement action from the SEC. This case highlights the commitment of US authorities to combating market manipulation in the cryptocurrency sector.

Bitcoin is struggling to break above the $90,000 level and is currently trading between $81,000 and $88,000. Recent price action has been volatile, influenced by macroeconomic uncertainty including new tariffs announced by the U.S. President. Bitcoin has been unable to consistently stay above its 200-day moving average. However, the Bitcoin Advanced Sentiment Index indicates strong bullish sentiment among market participants, suggesting potential for renewed buyer interest. The $81,000 level is a key support, while breaking above $90,000 would signal renewed bullish momentum.

Despite a recent market downturn where Ethereum's price fell by 5% to around $1,777, some analysts are predicting a significant price increase for Ethereum in the second quarter of 2025, drawing parallels to its 2020 performance. This optimism is fueled by data showing that large investors, or whales, are accumulating Ethereum even as its price declines. Wallets holding between 10,000 and 100,000 ETH have been increasing their holdings since early 2024. However, other analysts caution that Ethereum could still fall further, potentially to the $1,130 to $1,200 range, before any potential recovery. One analyst noted that ETH has only touched the 300-week moving average for the second time in its history, which has historically signaled a bearish trend. Despite the mixed outlook, some commentators still believe Ethereum is on track to reach new all-time highs later in the year.

Ethereum's price is struggling to maintain gains and is currently trading below $1,840. It failed to stay above the $1,800 support level and has seen a low of $1,751. There's resistance around $1,810 and $1,840, and to move higher, Ethereum needs to break above $1,880, potentially targeting $1,920 or even $2,000-$2,050. However, if Ethereum can't overcome the $1,850 resistance, it could decline further. Support levels to watch are $1,765, $1,750, $1,720, $1,680 and $1,620. Technical indicators suggest bearish momentum.

Gemini, the cryptocurrency company led by Cameron and Tyler Winklevoss, is expanding its operations by leasing an 8,840 square foot office in Miami's Wynwood neighborhood, with plans to move in May. Wynwood is attracting numerous companies and is becoming a business growth center. Gemini has also filed confidentially for an initial public offering (IPO) and is working with Goldman Sachs and Citigroup. The company recently settled a lawsuit with the Commodity Futures Trading Commission for $5 million. Gemini's potential IPO would add to the growing number of crypto-native companies considering going public in the U.S. stock exchanges. In preparation for a possible IPO, Gemini appointed Dan Chen as their new chief financial officer.

Coinbase Institutional has filed with the CFTC to launch XRP futures contracts on April 21, 2025, through its Coinbase Derivatives subsidiary. This allows institutional and retail investors a regulated way to trade XRP with more flexibility. The move is expected to increase XRP's liquidity and attract more institutional investment. Kraken has also listed Ripple USD (RLUSD) to its trading platform to broaden XRP's trading ecosystem. However, there was an initial confusion as Coinbase referred to the futures product as Ripple futures, rather than XRP futures.

According to Glassnode, retail investors have shown a strong interest in XRP, with daily active addresses increasing by 490% since the 2022 low, significantly more than Bitcoin's 10% increase. XRP's Realized Cap nearly doubled, indicating substantial capital inflows, primarily from new investors. However, Glassnode suggests the initial enthusiasm for XRP might be diminishing, as profitability declines and the market structure appears to be top-heavy, which could make XRP more susceptible to price drops. Bitcoin, on the other hand, is experiencing sluggishness with many holders still holding BTC at a loss. This overall suggests caution when dealing with assets heavily influenced by retail interest, as the initial high demand may have already peaked.

New tariffs imposed by President Trump are projected to cost U.S. businesses an estimated $654 billion annually, potentially growing with additional tariffs. Big tech companies could face daily expenses of $1 billion to $2 billion. While the U.S. has a trade deficit in physical goods, it has a trade surplus of at least $600 billion in digital products, with exports in digital advertising and cloud computing reaching $260 billion and $184 billion, respectively. Trade retaliation could extend beyond digital services, affecting U.S. exports in sectors like aerospace and machinery. There's debate on whether big tech could benefit if the administration successfully negotiates better terms, especially regarding issues like TikTok's sale and digital services taxes. The U.S. stock market experienced its worst daily loss since 2020, impacting tech companies like Apple, which saw its worst stock drop since the COVID-19 outbreak.

XRP's price is currently around $2, heavily influenced by the ongoing lawsuit between Ripple and the SEC. A favorable outcome for Ripple could potentially push the price to $5.81 by 2025. Long-term price predictions range from $26.97 by 2030 to over $500 by 2050, contingent on Ripple's success in areas like stablecoins and global payments. The lawsuit's resolution is anticipated soon, with potential for a final judgment within 60 days if things proceed as planned. Current analysis shows that XRP is up and down. However, analysts predict it could reach the $5.81 mark if Ripple wins the case. Beyond 2025, predictions suggest even more substantial gains, with XRP potentially reaching $26.97 by 2030 and even exceeding $500 by 2050, given favorable conditions and widespread adoption. However, the lawsuit remains the primary factor determining XRP's future trajectory.

President Trump's new tariffs have created uncertainty in the cryptocurrency market, leading to short-term price drops. Bitcoin fell to around $82,000, and Ethereum dipped below $1,800. Traders are buying put options to protect against further losses. Analysts predict potential for sideways price movement in the near future. However, they foresee long-term gains for Bitcoin as it could become a hedge against inflation and a weaker U.S. dollar. Increased tariffs could also make cryptocurrencies more appealing for international transactions, especially with the use of stablecoins. Some experts believe these tariffs risk causing stagflation, potentially undermining confidence in traditional currencies and pushing investors towards Bitcoin as a safe haven. One analyst pointed out that the market shift towards stablecoins signals rising fear in the market.