4.29 AI Daily Report: AI concept coins rise collectively, leading the market, Sui ecosystem continues to soar.

1. Headlines

1. The Ethereum Foundation releases its vision, focusing on ecosystem and core objectives.

The Ethereum Foundation ( EF ) published a vision blog that outlines the goal of building Ethereum as an "infinite garden." EF will empower the community to develop independently by supporting infrastructure, core upgrades, and zero-knowledge research, while adhering to long-term thinking and value preservation principles.

EF's future goals include expanding usage, promoting the adoption of Ethereum in internet-native finance, DAOs, decentralized social media, AI, and enterprise applications; enhancing resilience, ensuring ecosystem independence, value consistency, team diversity, and network risk resistance.

This vision demonstrates EF's commitment to promoting the long-term healthy development of the Ethereum ecosystem. By focusing on core objectives, EF will inject new momentum into the Ethereum ecosystem, helping it become a true "infinite garden."

2. The Sui ecosystem ignites, with multiple driving forces behind the surge in on-chain data.

Recently, the Sui ecosystem has experienced a remarkable surge. The governance token SUI rose over 75% within a week, significantly outperforming the market during the same period. This phenomenon is the result of a complex interplay of driving factors.

On one hand, rumors about the collaboration between Sui and the Pokémon IP have sparked speculative enthusiasm; on the other hand, the trading volume in the Sui ecosystem continues to rise, with on-chain activity increasing and fundamentals improving. Data shows that the trading volume in the Sui ecosystem has reached a historic high, with the number of active addresses increasing 95 times month-on-month.

Analysts point out that the recent surge in the Sui ecosystem is driven by multiple favorable factors, including speculative hype expectations and ongoing improvements in the ecosystem's fundamentals. Whether Sui can maintain this positive momentum in the future will depend on observing the actual progress of its ecosystem development.

3. The AI Concept Coin Explosion, Meme Ecosystem Favored by Investors

With the recovery of the sentiment in the cryptocurrency market, AI concept coins have recently experienced a surge in prices. Data shows that several AI concept Meme tokens have risen over 20% in 24 hours, with tokens like VIRTUAL, SHELL, and GRIFT leading the way.

Analysis indicates that the recent rise of AI concept coins is driven, on one hand, by the overall recovery of the cryptocurrency market; on the other hand, it reflects investors' enthusiastic expectations for the AI sector. With the continued popularity of AI tools like ChatGPT, investor sentiment towards AI concept coins has warmed.

However, some analysts warn that most AI concept coins lack practical application scenarios, and their price fluctuations mainly stem from speculative trading. Investors need to remain rational and guard against investment risks.

4. The call for U.S. regulation of cryptocurrency is rising again, and DePIN may receive key attention.

U.S. Democratic Congressman Shri Thanedar recently proposed seven articles of impeachment against Trump, involving charges of abuse of power, bribery, and corruption, drawing market attention.

Analysts point out that if the impeachment articles are passed, it will have a profound impact on the Trump administration's cryptocurrency-friendly policies. In this context, crypto projects involving physical infrastructure, such as DePIN, may receive significant regulatory attention.

Industry insiders are calling for clear and transparent regulatory guidance for the crypto sector, especially regarding the regulation of projects like DePIN, which requires careful consideration to avoid simplistic litigation approaches. Well-designed regulation will pave the way for ongoing innovation in the industry.

5. Beijing releases blockchain action plan, striving for breakthrough results.

The Beijing Municipal Science and Technology Authority recently jointly issued the "Beijing Blockchain Innovation Application Development Action Plan (2025-2027 )", which clarifies the main goals of blockchain development.

According to the action plan, by 2027, Beijing will achieve significant improvements in the capability of national digital infrastructure supported by autonomous and controllable blockchain technology, with more than 10 breakthrough achievements in core technology fields such as blockchain-specific chips and privacy protection.

At the same time, Beijing will also develop more than 20 excellent application cases in five key areas such as large artificial intelligence models, and initially establish a national blockchain hub node.

This action plan highlights Beijing's determination to accelerate the innovation and development of blockchain. By clarifying the development roadmap, Beijing will inject new momentum into the application of blockchain technology in areas such as digital infrastructure.

2. Industry Data

1. BTC

Recent transaction price 94726.3000 USD, intraday increase +0.6999%.

2. ETH

Recent transaction price is 1805.2400 USD, with a daily increase of +0.1000%.

3. WLD

Recent transaction price 1.1626 USD, daily decline -3.5000%.

4. SUI

The recent transaction price is 3.7146 USD, with a daily increase of +2.7999%.

5. GT

Recent transaction price is $22.4370, with an intraday increase of +0.6000%.

3. Industry News

1. Bitcoin price breaks through the $95,000 mark, market sentiment shifts to "greed".

The price of Bitcoin has increased by 2.04% in the past 24 hours, briefly breaking the $95,000 mark. This surge is mainly driven by the continued strength of the U.S. stock market, Trump's signals for more relaxed tariffs, and the ongoing inflow of funds into stablecoins.

Analysts indicate that Bitcoin's momentum is strengthening, and the overall market structure trend is positive. The dual factors of declining forex balances and increased capital inflows suggest that a new round of accumulation phase is about to arrive. In the recent week of rising prices, retail investors seem to have played a larger role than in the past few weeks.

However, market sentiment has shifted from "neutral" to "greed", and the cryptocurrency fear and greed index has risen to 60, which may indicate that the market has entered an overbought zone, posing a risk of a pullback in the short term. Investors need to remain cautious, control their own greed mentality, follow a strict trading plan, and not let emotions drive their decisions.

Overall, the price of Bitcoin has broken through a key resistance level, demonstrating strong upward momentum, but investors should also be wary of the risks brought by overly optimistic market sentiment. Whether Bitcoin can continue to rise in the future will require further observation of the macroeconomic situation and capital flow.

2. Ethereum Fusaka hard fork postponed, EOF upgrade removed

Tomasz Kaan Stańczak, joint executive director of the Ethereum Foundation, revealed that the Fusaka hard fork is expected to take place in the third or fourth quarter of 2025, although the specific timeline has not yet been determined. Core developer Tim Beiko confirmed that due to technical uncertainties and potential delays in the fork's progress, the controversial EVM object format (EOF) upgrade has been removed from Fusaka.

EOF includes 12 EIP proposals aimed at improving EVM efficiency by defining bytecode container modules, but its complexity has sparked controversy. Opponents, such as developer Pascal Caversaccio, argue that it is "too complex," adding new semantics and changing over a dozen opcodes, which could introduce new vulnerabilities. A poll on the Ethereum voting platform ETHPulse shows that 39 addresses holding 17,745 ETH oppose the upgrade.

Analysts point out that the delay and cancellation of the EOF upgrade reflect the Ethereum community's cautious attitude towards technological changes. On the one hand, they want to ensure the stability and security of the upgrade; on the other hand, it also reflects the importance that the Ethereum ecosystem places on maintaining backward compatibility. In the future, Ethereum will continue to focus on scalability and the construction of the application ecosystem, striving to enhance user experience.

Generally speaking, the detailed adjustments of the Fusaka hard fork are aimed at paving the way for the long-term development of Ethereum, but they may also have a certain impact on market expectations in the short term, and investors need to closely monitor subsequent developments.

3. Solana ecosystem tokens dominate the rankings, Alpha trading, meme coins collectively rebound

According to monitoring, the top 3 trading volumes of Alpha tokens traded through the exchange in the last 24 hours are KMNO, POPCAT, and FARTCOIN, with the trading volume share of these three tokens accounting for 55.5%, and all are Solana ecosystem tokens.

Meanwhile, the second largest meme coin by market capitalization in the Solana ecosystem, BONK, saw a rise of 60% last week, indicating a recovery in the entire meme coin market. The total market capitalization of meme coins reached $55.51 billion, with trading volume exceeding $7.96 billion. The price of BONK has broken the downward trend and may develop towards $0.000040. Investor participation in BONK futures has increased significantly, with a substantial rise in open interest.

Analysts believe that the active trading of Solana ecosystem tokens and meme coins reflects investors' enthusiasm and confidence in the ecosystem. As a high-performance public chain, Solana's advantages such as low transaction fees and high throughput have attracted a large number of deployments of applications like DeFi and NFTs, making the ecosystem increasingly prosperous. As an emerging category of crypto assets, the speculative nature and community marketing effects of meme coins have also become important factors in attracting funds.

However, meme coins lack actual value support, and their price fluctuations are often greatly influenced by market sentiment. Investors need to be wary of the risks brought by excessive speculation and rationally view short-term price fluctuations. At the same time, it is also important to pay attention to the long-term development prospects of the Solana ecosystem and seek out truly valuable investment opportunities.

4. The AI concept coins are rising, with tokens like VIRTUAL and ZEREBRO leading the surge.

According to the data, AI concept Meme tokens have generally risen, with VIRTUAL up 41% in 24 hours, ZEREBRO up 4.74%, ai16z up 20.2%, etc. This upward trend reflects investors' enthusiasm for AI cryptocurrency projects and is also related to the recent continuous rise of AI concepts in the crypto space.

Analysts point out that AI technology has broad application prospects in the cryptocurrency field, including smart contract optimization, predictive model construction, anti-money laundering monitoring, etc., which provides favorable conditions for the development of AI concept coins. At the same time, the rise of large language models like ChatGPT has also attracted more investors to focus on the potential value of AI in the cryptocurrency space.

However, AI concept coins are still in a relatively early stage, and most projects have not yet generated actual profits. Token prices are mainly driven by speculative demand. Investors need to comprehensively assess the project's technical strength, team background, business model, etc., rationally view short-term price fluctuations, and avoid blindly following the trend.

In addition, the regulatory issues surrounding AI concept coins are also worth paying attention to. Some countries and regions have a relatively strict attitude towards the regulation of AI technology, which may affect the development of related projects. Investors need to closely monitor regulatory trends and assess potential compliance risks.

Overall, the rise of AI concept coins reflects the market's enthusiasm for this emerging sector, but investors also need to remain rational and comprehensively consider factors such as technology, business models, and regulation to find truly valuable investment targets.

4. Project News

1. The Ethereum Foundation is restructuring its management framework, focusing on core objectives.

The Ethereum Foundation has announced a new governance structure that emphasizes operational and strategic responsibilities. Key appointments include Hsiao-Wei Wang and Tomasz K. Stańczak as joint executive directors. The restructured team will focus on expanding the Ethereum mainnet, developing the "blob" structure, and enhancing user experience over the next 12 months.

The Ethereum Foundation was established in 2014 to support research, development, and education related to the Ethereum protocol. As a non-profit organization, the Foundation has been promoting the development of the Ethereum ecosystem. This reorganization reflects the Foundation's emphasis on the long-term vision for Ethereum and will focus resources on core objectives.

The focus of this transformation is to enhance the usability and decentralization of Ethereum. By introducing a "blob" structure, Ethereum will improve data availability, thereby strengthening the resilience of the network. At the same time, the foundation will also invest resources to improve the user experience, making Ethereum more user-friendly and easier to adopt.

The initiative has received widespread attention from industry insiders. Analysts believe that the new strategy of the Ethereum Foundation will help promote the long-term development of the Ethereum ecosystem. Some investors have also stated that this transformation is expected to boost market confidence and inject new momentum into Ethereum tokens.

2. Sui ecosystem surges, on-chain data continues to strengthen

Recently, the Sui governance token and its ecosystem have experienced a remarkable surge. The SUI token itself has risen more than 75% in a week, far exceeding the market performance during the same period. Behind this phenomenon are complex interwoven driving factors, including speculative enthusiasm triggered by market rumors, significant changes in capital flows, and ongoing improvements in the fundamentals of the ecosystem.

Sui is a next-generation Layer 1 blockchain launched by Mysten Labs in 2022. It aims to redefine blockchain scalability and user experience through its unique object-based architecture and the Move programming language. Unlike traditional account-based blockchains, Sui treats assets as programmable objects, enabling more expressive and secure smart contract logic.

Latest data shows that the decentralized trading volume of the Sui ecosystem has reached a historic high. The number of active addresses on the chain and the total locked value have also seen significant growth. This fundamental improvement has created a positive feedback loop with the surge in token prices, further attracting capital inflow.

In addition to the positive on-chain data, the Sui ecosystem has also benefited from a series of favorable news. There are rumors that Sui is negotiating a collaboration with the Pokémon Company, sparking market discussions. Furthermore, the launch of Grayscale Trust and Native USDC on Sui has injected new vitality into the ecosystem.

Analysts pointed out that the recent surge of the Sui ecosystem reflects the market's enthusiasm for emerging public chains. As an advanced technology public chain, Sui has broad development prospects. However, it is also necessary to be wary of the risks of speculative trading and to view the fluctuations in token prices rationally.

3. AI concept coins rise broadly, with projects like VIRTUAL and SHELL leading the market.

On April 29, AI concept Meme tokens generally rose, with projects like VIRTUAL, SHELL, and GRIFT leading the way. VIRTUAL saw a 24-hour increase of 41%, currently valued at $720 million; SHELL increased by 16.05% in 24 hours, with a market cap of $108 million; GRIFT rose by 15.86% in 24 hours, currently valued at $120 million.

Behind this market trend is the ongoing popularity of AI concepts. With the continuous proliferation of AI tools like ChatGPT, public interest in AI technology is increasing day by day. As a result, the cryptocurrency market has sparked a wave of AI enthusiasm, leading to the emergence of various AI concept coins.

VIRTUAL is an AI agent protocol based on Solana, aimed at providing users with personalized AI assistants. The project recently launched an AI assistant called "Virtuals," which can interact with users through voice and provide various services. The launch of this innovative product has undoubtedly further boosted the popularity of VIRTUAL.

SHELL is an AI agent protocol based on Sui, allowing users to create and deploy their own AI assistants. The project recently launched an AI assistant called "Shellbot", which can interact with users through voice and perform various tasks. SHELL's technical strength and innovative concepts have gained great market favor.

Analysts say that the craze for AI-themed coins reflects the cryptocurrency market's enthusiasm for emerging technologies. However, it is also necessary to be wary of the risks of speculative trading and to view the fluctuations in token prices rationally. Only projects that truly possess technical strength and application scenarios will be able to secure a place in future development.

5. Economic Dynamics

1. The U.S. tariff policy raises concerns about the global economy

At present, global economic growth is slowing down, and the GDP growth rate of major economies is generally declining. The International Monetary Fund's latest forecast for global economic growth in 2025 is 2.8%, down 0.1 percentage points from its previous forecast. Inflation in major economies has eased but remains elevated, with inflation in the US at 5.1% in March and 6.9% in the eurozone. The unemployment rate remained low, with the US unemployment rate at 3.5% in March and the Eurozone at 6.5%.

Recently, the U.S. government has pursued unilateralism and protectionist policies, recklessly wielding the tariff stick and provoking economic and trade frictions, the damage to the world economy is becoming increasingly evident. The Trump administration announced the launch of a "reciprocal tariff" policy, imposing a 10% "minimum baseline tariff" on all global trade partners, triggering violent fluctuations in global risk assets.

Investors are worried that trade tensions will undermine the international order, leading to a regression in globalization and trade imbalances, which in turn will drag down economic growth. The three major U.S. stock indexes saw a significant decline in late April. The turmoil in the international financial markets has intensified, with a surge in demand for safe-haven assets such as gold and the yen.

Multiple institutions have warned that tariff policies will exacerbate the global economic slowdown. Goldman Sachs predicts that if the U.S. imposes a 25% tariff on all imported goods, it will reduce the global GDP growth rate by nearly 1 percentage point. Morgan Stanley believes that the risk of a trade war is the biggest uncertainty factor facing the current global economy.

ECB Executive Board member Chipolone said that U.S. trade measures could drag down eurozone inflation in the short term, as they would drag down the global economic expansion. "Trade measures could create the same inefficiencies as in the 20th century by shifting resources from high-productivity sectors to lower-productivity sectors, and this contractionary effect could lead to a persistent decline in global growth rates."

2. The Federal Reserve's pace of interest rate hikes slows down, inflationary pressures persist.

The annual core PCE price index in the U.S. for March is 4.6%, remaining above 4% for the third consecutive month, indicating that inflationary pressures are still persistent. Nevertheless, the Federal Reserve decided to pause interest rate hikes at this week's meeting, keeping the federal funds rate target range unchanged at 4.75%-5%.

Federal Reserve Chairman Powell stated at a press conference that inflation pressures remain severe, but the latest data shows that they are moving in a controllable direction. Powell emphasized that the Federal Reserve will remain patient, continue to closely monitor the data, and be prepared to raise interest rates further if needed.

Market participants believe that the Federal Reserve's decision to pause interest rate hikes reflects concerns about economic slowdown. The initial annualized quarterly GDP rate for the U.S. in the first quarter was only 1.1%, far below expectations. Manufacturing activity continues to contract, and the real estate market is sluggish.

Investors have differing views on the Federal Reserve's policy outlook. Goldman Sachs expects the Fed to raise interest rates by 25 basis points in June and July, and then pause again later in the year. In contrast, Citigroup believes the Fed may halt rate hikes as early as June.

Experts point out that the biggest challenge facing the Federal Reserve is to curb inflation while avoiding triggering an economic recession. If interest rates are raised too much, it could further hinder economic growth; if rate hikes are stopped too early, it might lead to inflation getting out of control again.

3. China lowering tariffs sends a positive signal.

As global trade tensions escalate, the Chinese government has sent a positive signal. The Tariff Policy Committee of the State Council of China has decided to appropriately reduce the import tariff rates on certain goods starting from May 1, 2025.

This adjustment involves approximately 300 tax items for imported goods, mainly including resource products, production materials, and daily consumer goods. Among them, a moderate tax reduction is implemented on bulk commodities such as crude oil, mineral sands, and wood pulp, which is beneficial for alleviating the cost pressure on enterprises. At the same time, zero tariffs are applied to certain daily necessities and pharmaceuticals, which is conducive to meeting the consumption needs of residents.

The Chinese Ministry of Commerce stated that this move aims to further expand opening up to the outside world and promote the mutual reinforcement of domestic and international dual circulation. Experts believe that China's tariff reduction has released a positive signal, which is beneficial for alleviating global trade tensions and injecting confidence into the world economy.

China is the world's second-largest economy and a major trading nation, and its adjustments to tariff policies will have a significant impact on global industrial and supply chains. Lowering tariffs in China will help reduce import costs and alleviate domestic inflationary pressures. At the same time, it will also promote domestic consumption, injecting new momentum into the recovery of the world economy.

However, some analysts have pointed out that China's reduction in tariffs is limited and difficult to completely offset the negative impact of the tariffs imposed by the Trump administration. The global economic outlook still faces many uncertainties, and countries need to work together to maintain the multilateral trading system and promote the process of economic globalization.

4. The European Central Bank may slow down its interest rate hike pace.

The European Central Bank will hold an interest rate decision meeting this week. The market widely expects the European Central Bank to raise interest rates by another 25 basis points, bringing the three key interest rates up to 3.75%.

However, some analysts believe that the European Central Bank may slow down its interest rate hikes. Deutsche Bank expects the European Central Bank to pause rate increases in May. The bank believes that economic growth in the Eurozone is slowing and inflationary pressures are easing, so the European Central Bank may pause rate hikes to assess the situation.

The inflation rate in the Eurozone for March was 6.9%, a decrease from February. However, the core inflation rate rose from 5.6% last month to 5.7%, indicating that inflationary pressures are still ongoing.

European Central Bank President Christine Lagarde previously stated that the ECB will continue to raise interest rates until the inflation rate returns to the target level of 2%. However, she also acknowledged that there are downside risks to the economic outlook for the Eurozone.

HSBC believes that the European Central Bank may pause interest rate hikes after a 25 basis point increase in May. The bank expects the Eurozone economy to enter a mild recession in the second half of this year.

Overall, there is still uncertainty about the next steps in the pace of interest rate hikes by the European Central Bank. The market will closely watch for policy signals from the European Central Bank's meeting this week.

6. Regulation & Policy

1. South Korea plans to introduce seven major cryptocurrency policies, opening spot ETF trading within the year.

The ruling party of South Korea, the People Power Party, has announced seven new policies to cultivate the digital asset ecosystem. They plan to open trading for spot ETFs such as Bitcoin within the year and abolish the "1 exchange - 1 bank" restriction to encourage institutional participation. The policies also include the introduction of stablecoin regulation, promotion of STO legislation, and the formulation of a fundamental law for digital assets. The party intends to establish a special committee for virtual assets under the direct supervision of the presidential candidate to coordinate related reforms.

This series of policies aims to create a more standardized and orderly development environment for South Korea's cryptocurrency industry. Opening up spot ETF trading will provide institutional investors with more investment channels, facilitating the influx of funds; the abolishment of the "1 exchange - 1 bank" restriction will help the business development of cryptocurrency exchanges; while stablecoin regulation and STO legislation will provide regulatory guidance for emerging crypto financial products. Overall, these policies will promote the South Korean cryptocurrency market towards a more transparent and compliant direction.

Market participants generally welcome this. The president of the Korea Blockchain Association stated that these policies will inject new momentum into the industry, which is beneficial for attracting more investors and innovative companies to enter the market. However, some experts remind that the specific details and implementation methods of the regulatory policies still need to be further clarified to avoid triggering new risks.

2. Arizona advances the establishment of a Bitcoin reserve, sparking widespread discussion.

The Arizona House of Representatives passed a bill allowing up to 10% of public funds to be invested in digital assets like Bitcoin, setting a precedent in the cryptocurrency world. The bill will take effect after being signed by the state Senate and the governor.

This initiative aims to incorporate cryptocurrencies such as Bitcoin into the financial management system of state governments, exploring their potential as reserve assets. Supporters argue that Bitcoin, as a decentralized and inflation-resistant asset, can provide state governments with new investment options. Critics, however, worry that the high volatility of cryptocurrencies may pose financial risks.

The market reacted enthusiastically to the bill. The price of Bitcoin briefly rose after the announcement. Analysts from cryptocurrency investment firms stated that if the bill ultimately takes effect, it will provide a strong signal for institutional investors to enter the crypto market. However, some individuals cautioned that Bitcoin still carries many uncertainties as a reserve asset, and risks need to be carefully assessed.

Experts believe that Arizona's approach reflects the growing recognition of sovereign nations towards crypto assets. If other states or the federal government follow suit, it will further promote the integration of digital assets like Bitcoin into the mainstream financial system. However, it is also necessary to establish an appropriate regulatory framework to ensure fiscal stability.

3. The EU intends to introduce a legislation on artificial intelligence to regulate the use of AI systems.

The European Commission is drafting an artificial intelligence bill aimed at regulating the use of AI systems within the EU. The bill will adopt different regulatory measures for AI systems with varying levels of risk.

High-risk AI systems need to undergo strict compliance assessments, including data quality, technical documentation, human review, etc. Medium-risk systems require transparency testing, while low-risk systems do not need special regulation. Companies that violate regulations may face fines of up to hundreds of millions of euros.

The background of the introduction of this bill is to address the potential risks brought by the rapid development of artificial intelligence technology. The European Union aims to ensure the safety, transparency, and accountability of AI systems through a unified legal framework while promoting innovation.

Reactions from businesses to the bill are mixed. Tech giants generally support it, believing it will help increase public trust in AI. However, some small and medium-sized enterprises are concerned that the compliance costs are too high and may stifle innovation. Some privacy rights organizations argue that the bill does not regulate AI systems strongly enough.

Experts analyze that the EU AI Act will set the tone for global AI regulation. It not only impacts the internal market of the EU but may also encourage other countries and regions to formulate similar regulations. Future AI regulation will be a long-term process that requires continuous improvement.