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<v Speaker 1>Hey, it's Alex with the Token Metrics Daily Pulse for

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<v Speaker 1>April eighteenth, twenty twenty six. Big Day. A close to

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<v Speaker 1>three hundred million dollar hack just hit crypto bitcoins, pulling

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<v Speaker 1>back after a promising run, and mean coins are somehow

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<v Speaker 1>up thirty two percent this week. Let's get into it,

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<v Speaker 1>but first a quick word from our sponsor. Okay, so

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<v Speaker 1>here's what's happening. Kelp dow just lost two hundred and

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<v Speaker 1>ninety two million dollars. That's the largest crypto hack of

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<v Speaker 1>the year. And it happened through a bridge, which is

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<v Speaker 1>the part that should make you uncomfortable. Here's what that

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<v Speaker 1>means in plain English. Kelp dow is a platform where

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<v Speaker 1>you deposit ethereum, it gets put to work earning extra yield,

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<v Speaker 1>and you receive a token called rs eth in return.

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<v Speaker 1>That rs eths can then move across different blockchains through

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<v Speaker 1>a connector called a bridge, and that bridge is what

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<v Speaker 1>got hit. The attacker didn't just drain one chain, They

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<v Speaker 1>hit twenty different blockchains at once. Rs eth is now

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<v Speaker 1>stranded across all of them. This isn't a one off bug.

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<v Speaker 1>It's a failure across an entire stack of connected systems.

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<v Speaker 1>And here's what stings most. This happened right as the

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<v Speaker 1>restaking narrative was starting to feel credible. Turns out, mature

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<v Speaker 1>and secure are still two very different things in crypto.

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<v Speaker 1>So where does that leave the broader market. It's a

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<v Speaker 1>sea of red, but nothing catastrophic Outside of Kelptow itself.

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<v Speaker 1>Bitcoin is sitting around seventy six thousand dollars. It pushed

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<v Speaker 1>towards seventy eight thousand earlier this week before sliding back.

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<v Speaker 1>Ethereum and Solana are both down a few percent. Total

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<v Speaker 1>market cap is around two point six trillion. Bitcoin dominance

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<v Speaker 1>is holding near fifty seven percent, which means most of

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<v Speaker 1>the money in crypto is sitting in Bitcoin right now,

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<v Speaker 1>not spreading into smaller coins. And then there's this meme.

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<v Speaker 1>Coins are up thirty two percent in seven days, the

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<v Speaker 1>single strongest move in the entire market. Wild bitcoinen pulls

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<v Speaker 1>back and a close to three hundred million dollar hack

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<v Speaker 1>hits That tension is worth paying attention to. All right,

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<v Speaker 1>let's talk about what's driving all of this Bitcoin First,

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<v Speaker 1>the move from the low seventies up to nearly seventy

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<v Speaker 1>eight thousand this week was real. Seven months of resistance cracked,

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<v Speaker 1>at least temporarily. The weekly close on Sunday is going

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<v Speaker 1>to tell us a lot. If Bitcoin closes above seventy

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<v Speaker 1>seven thousand, that old ceiling potentially becomes a floor, and

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<v Speaker 1>the next conversation is about eighty thousand. If it drops

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<v Speaker 1>back below seventy four thousand, the move was a false start. Now.

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<v Speaker 1>Solana Future's open interest jumped twenty percent in one week,

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<v Speaker 1>which means traders are putting real money behind a bet

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<v Speaker 1>that Solana goes higher. Solana briefly touched ninety dollars before

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<v Speaker 1>pulling back to around eighty six. Here's why that matters.

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<v Speaker 1>When a lot of traders bet on a price going

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<v Speaker 1>up and then the price pulls back, those traders are

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<v Speaker 1>sitting on losing positions. They either buy more to defend

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<v Speaker 1>their bet, or they sell, which pushes the price down faster.

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<v Speaker 1>If Solana can't reclaim eighty eight to ninety dollars quickly,

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<v Speaker 1>that selling pressure could flush it toward eighty A couple

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<v Speaker 1>of stories that are easy to overlook. Strategy formally, micro

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<v Speaker 1>Strategy is changing the dividend schedule on one of its

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<v Speaker 1>preferred stock products from monthly to BUI monthly Strategy's whole

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<v Speaker 1>model is built around issuing financial products to raise money

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<v Speaker 1>to buy more bitcoin, so any tweak to how those

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<v Speaker 1>products work is worth watching. Prediction markets put only a

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<v Speaker 1>three percent chance that Strategy sells any bitcoin by June thirtieth.

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<v Speaker 1>The market believes in the commitment. And then there's this

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<v Speaker 1>one I genuinely love. Alcoa is close to selling a

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<v Speaker 1>dormant New York aluminum smelter to ny DIG. That's ny Dig,

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<v Speaker 1>a bitcoin mining company. Smelters need enormous amounts of reliable power,

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<v Speaker 1>and so do bitcoin miners. The infrastructure is already there.

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<v Speaker 1>What Alcoa can use profitably, New York Dig can. This

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<v Speaker 1>is the quiet trend behind bitcoin mining right now. It's

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<v Speaker 1>about stranded industrial assets that nobody else wants. Quick hits.

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<v Speaker 1>Charles Schwab just launched spot Bitcoin and Ethereum Trading, not

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<v Speaker 1>a fund wrapper, actual direct trading. Iran is apparently using

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<v Speaker 1>bitcoin and tether to collect oil transit tolls through the

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<v Speaker 1>strait of Hormuz World. Liberty Financial is proposing to burn

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<v Speaker 1>four point five billion insider tokens, which would reduce future

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<v Speaker 1>selling pressure if approved, and a token called rave pumped

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<v Speaker 1>four thousand, five hundred percent. Finance and bitget have opened

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<v Speaker 1>investigations into suspected insider activity. The team denies involvement. The

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<v Speaker 1>number speaks for itself. All right, before we get into

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<v Speaker 1>the risks, quick word from our sponsor. Okay, we're back.

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<v Speaker 1>Let's talk about what to watch for. Three risks on

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<v Speaker 1>my radar. First, meme coins are up thirty two percent

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<v Speaker 1>while Bitcoin slides and a major hack hits. When the

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<v Speaker 1>most speculative assets outperform during bad news, it usually ends

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<v Speaker 1>one of two ways. The bad news gets ignored and

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<v Speaker 1>memes keep running, or the bad news catches up and

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<v Speaker 1>memes fall Hardest history says the second happens more often. Second,

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<v Speaker 1>the kelp Dow hack drained two hundred and ninety two

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<v Speaker 1>million through a bridge. Total crypto locked in DeFi sits

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<v Speaker 1>around ninety four billion dollars. A meaningful chunk of that

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<v Speaker 1>relies on bridge infrastructure that has now failed repeatedly at scale.

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<v Speaker 1>The risk isn't just Kelp Dow. It's that every cross

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<v Speaker 1>chain protocol carries some version of this vulnerability. Third, prediction

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<v Speaker 1>markets are putting only seven and a half percent probability

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<v Speaker 1>on three FED rate cuts in twenty twenty six. In

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<v Speaker 1>plain English, the market thinks the FED is keeping rates high.

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<v Speaker 1>That's a headwind for crypto because when money is expensive,

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<v Speaker 1>people take less risk. Crypto has to justify its price

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<v Speaker 1>on its own merits, and that's a harder argument at

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<v Speaker 1>seventy six thousand bitcoin than it was at thirty thousand.

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<v Speaker 1>Looking ahead, Three things I'm watching kelp Doow's recovery plan.

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<v Speaker 1>The next seventy two hours matter a lot. If they

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<v Speaker 1>publish a credible path forward and rs ETH stabilizes, the

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<v Speaker 1>damage probably stays contained if it doesn't. Watch whether the

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<v Speaker 1>broader restaking category starts losing users. Bitcoin's weekly close on

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<v Speaker 1>Sunday above seventy seven thousand keeps the breakout thesis alive

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<v Speaker 1>below seventy four thousand, and we're calling it a false start.

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<v Speaker 1>And the Binance and bitcoit investigation into the Rave token pump.

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<v Speaker 1>If either exchange confirms insider manipulation, it sets a real

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<v Speaker 1>precedent for how centralized exchanges handle suspected coordinated rallies going forward.

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<v Speaker 1>That's the pulse for April eighteenth. If you got something

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<v Speaker 1>out of this, share it with a friend who follows crypto.

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<v Speaker 1>That's genuinely the best way to support what we're doing here.

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<v Speaker 1>You can also will subscribe to the newsletter at tokenmetrics

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<v Speaker 1>dot com to get all of this in written form.

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<v Speaker 1>This is educational content, not investment advice. Always do your

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<v Speaker 1>own research before making any financial decisions. I'm Alex, See

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<v Speaker 1>you next time.