Weekly Market Highlights - Strategy keeps accumulating BTC, now holding over 2.5% of total supply

18 April 2025Macro/TradFiStrategy bought 3,459 BTC for US$285.8M at an average price of US$82,618, using proceeds from its MSTR stock sale—bringing total holdings to 531,644 BTC.Metaplanet has purchased 319 BTC for US$26.3M at an average price of US$82,549, bringing its total holdings to 4,525 BTC.VanEck has proposed “BitBonds”—a hybrid instrument combining U.S. Treasuries with Bitcoin exposure—as a novel strategy to address the US$14T U.S. government refinancing need.VanEck plans to launch a crypto-related ETF next month, featuring 30 to 60 investments tied to digital assets. The fund will offer exposure to the broader crypto economy by targeting equities and financial instruments linked to exchanges, miners, and data centers.Panama City’s municipal government has approved the use of cryptocurrency for payments, allowing BTC, ETH, USDC, and USDT to be used for taxes, fees, tickets, and permits.CryptoDeFi:DeFi TVL dropped by US$48B in Q1 2025, a 27.5% decline, driven by a broad pullback in altcoin prices, according to CoinGecko.Raydium, Solana’s largest DEX by cumulative volume, has launched LaunchLab—a token creation platform rivalling Pump.fun—with direct integration into its liquidity pools and support for third-party fee structures.Sky and Spark protocol have deployed US$25M into a Maple Finance lending pool, with plans to potentially double the allocation, marking a deeper push into RWAs.Solayer is launching a crypto credit card powered by its InfiniSVM infrastructure, allowing users to spend crypto directly without off-ramping to fiat.Others:Eliza Labs has launched auto.fun, a pump.fun-style platform that lets users deploy complex AI agents without technical skills, featuring a “fairer than fair” token launch model to support sustainable economics.Treehouse Finance, a DeFi startup focused on fixed-income products, has raised an undisclosed amount in a new strategic funding round at a US$400M valuation.RWA tokenisation firm Securitise has acquired a crypto-focused fund administration company from MG Stover, expanding its in-house platform and bringing total assets under administration to US$38B across 715 funds.Latest Binance Research Publications Check out our latest publications:Pectra and Fusaka Upgrades: What does it mean for Ethereum?Tariff Escalation and Crypto Markets: Impact AnalysisMonthly Market Insights - April 2025Explore our Binance Research website for more project and macro research.For more frequent market updates and insights, follow us on Twitter @BinanceResearch.That’s a wrap!Binance ResearchAbout Binance Research: Binance Research is the research arm of Binance, the world's leading cryptocurrency exchange. The team is committed to delivering objective, independent, and comprehensive analysis and aims to be the thought leader in the crypto space. Our analysts publish insightful thought pieces regularly on topics related but not limited to, the crypto ecosystem, blockchain technologies, and the latest market themes.General Disclosure: This material is prepared by Binance Research and is not intended to be relied upon as a forecast or investment advice, and is not a recommendation, offer or solicitation to buy or sell any securities, cryptocurrencies or to adopt any investment strategy. The use of terminology and the views expressed are intended to promote understanding and the responsible development of the sector and should not be interpreted as definitive legal views or those of Binance. The opinions expressed are as of the date shown above and are the opinions of the writer, they may change as subsequent conditions vary. The information and opinions contained in this material are derived from proprietary and non-proprietary sources deemed by Binance Research to be reliable, are not necessarily all-inclusive and are not guaranteed as to accuracy. As such, no warranty of accuracy or reliability is given and no responsibility arising in any other way for errors and omissions (including responsibility to any person by reason of negligence) is accepted by Binance. This material may contain ’forward looking’ information that is not purely historical in nature. Such information may include, among other things, projections and forecasts. There is no guarantee that any forecasts made will come to pass. Reliance upon information in this material is at the sole discretion of the reader. This material is intended for information purposes only and does not constitute investment advice or an offer or solicitation to purchase or sell in any securities, cryptocurrencies or any investment strategy nor shall any securities or cryptocurrency be offered or sold to any person in any jurisdiction in which an offer, solicitation, purchase or sale would be unlawful under the laws of such jurisdiction. Investment involves risks.