Gate Research Daily Report: April 29, Bitcoin is trading at $95,190, and Ethereum at $1,802.81. Solana remains firmly at the top of the public chain activity rankings. Unichain has emerged strongly, and the Sui ecosystem has hit a record high in decentralized exchange (DEX) trading volume. Crypto asset investment products saw $3.4 billion in weekly inflows—a new annual high. The U.S. Congress has resumed the legislative process for crypto regulation, aiming to pass stablecoin and market structure bills by August. Tether revealed its gold-backed XAU₮ reserves now exceed 7.7 tons. Mastercard is driving stablecoin payment integration, now covering over 150 million merchants. Ika, backed by the Sui Foundation, has completed a funding round and launched an airdrop.

• Alpha Insights: Tether’s XAU₮ gold reserves exceed 7.7 tons. The U.S. Congress has restarted the legislative process, targeting completion of crypto-related laws by August.
• Big Investors in Action: Ika is an innovative company focusing on blockchain security and interoperability, specifically developing the world’s fastest parallel MPC (Multi-Party Computation) network. It recently completed a strategic funding round, with undisclosed figures, co-invested by the Sui Foundation.
• Airdrop Status: Ika is the first sub-second MPC network in the Sui ecosystem and is currently running an airdrop campaign. Participants can earn “Ink Droplets” (points) by staking SUI and completing specific tasks. The more points collected, the larger the potential Ika airdrop rewards in the future.
• Market Overview: Bitcoin rose 1.64% in the past 24 hours, trading at $95,190. Ethereum gained 3.79% in the same period, trading at $1,802.81.
• High-Potential Tokens: Over the past 24 hours, the standout altcoins in the market were SIGN, VIRTUAL, and MEMEFI, which posted remarkable gains of 173.83%, 40.83%, and 28.95% respectively.
• Alpha Data: Solana continues to lead in blockchain activity. Unichain showed a remarkable performance with a 95x month-on-month increase in active addresses. Sui ecosystem DEX volume reached $3.649 billion, setting a new weekly all-time high.

Explore More
→ Tether’s Gold Reserves Surpass 7.7 Tons, U.S. Congress Resumes Crypto Legislation | Gate Research Institute
→ SIGN Leads Altcoin Gains; Unichain’s Active Addresses Soar 95x | Gate Research Institute

Gate Research is a comprehensive blockchain and crypto research platform that delivers in-depth content including technical analysis, market insights, industry trends, and macroeconomic policy evaluations.

Disclaimer
Crypto investments involve high risks. Users are advised to conduct independent research and fully understand the nature of the assets and products before making any investment decisions. Gate.io is not liable for any losses incurred from such investment decisions.

Gate.io Team
April 29, 2025

Gateway to Crypto
Trade over 3,800 cryptocurrencies safely, quickly, and easily on Gate.io
Take Action Now
Sign up and claim up to $10,000 in welcome rewards
Invite friends and earn a 40% commission
Stay Connected
Visit Gate.io’s official website
Download the Gate.io App | Desktop
Follow us on X (Twitter) to get more bonuses
Join our Telegram community to discuss trending topics
Engage with our global community for the latest insights
Transparency & Security
Check our 100% Proof of Reserves