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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 thirtieth, twenty twenty six. Big day to close out

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<v Speaker 1>the month. We've got a record hack month, Solana showing

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<v Speaker 1>up everywhere, a Bitcoin minor making a massive bet on AI,

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<v Speaker 1>and a resistance level that keeps not breaking. Let's get

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

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<v Speaker 1>So here's what's happening. April just became the worst month

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<v Speaker 1>for crypto theft since February of last year. Six hundred

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<v Speaker 1>and thirty million dollars gone across sixty eight incidents. So

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<v Speaker 1>far in twenty twenty six, hackers have taken more than

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<v Speaker 1>a billion dollars total. And here's the number that should

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<v Speaker 1>actually stop you cold. North Korea accounts for seventy six

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<v Speaker 1>percent of all crypto theft this year seventy six Since

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<v Speaker 1>twenty seventeen, DPRK linked actors have stolen over six billion

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<v Speaker 1>dollars from this industry, more than the entire economy of

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<v Speaker 1>several small countries. They find the new week points, exploit them,

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<v Speaker 1>and move on before anyone can patch the hole. The

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<v Speaker 1>industry keeps fixing individual problems while the attacker keeps upgrading.

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<v Speaker 1>That's not a security strategy. That's whack a mole with

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<v Speaker 1>nine figure stakes. Meanwhile, Bitcoin is sitting around seventy six

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<v Speaker 1>thousand dollars and the fear and Greed index is at

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<v Speaker 1>twenty nine points, which means most people in this market

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<v Speaker 1>are scared not buying defensive posture to close the month.

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<v Speaker 1>So where does that leave the broader market? Pretty quiet,

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<v Speaker 1>and that's kind of the point. Bitcoin closed April down

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<v Speaker 1>less than two percent on the month. Ethereum is softer,

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<v Speaker 1>down more than Bitcoin on the day. DeFi the world

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<v Speaker 1>of decentralized finance apps has about eighty four billion dollars

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<v Speaker 1>locked up across protocols. Stable Coin supply is just over

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<v Speaker 1>three hundred and seventeen billion, down about half a percent

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<v Speaker 1>of the week. That last number matters more than it sounds.

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<v Speaker 1>When stable coin supply shrinks, it means fresh cash isn't

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<v Speaker 1>flowing into the system, and you can't push Bitcoin through

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<v Speaker 1>a resistance level without new money coming in. The setup

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<v Speaker 1>isn't broken, but it's not loaded with fuel either. All right,

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<v Speaker 1>let's get into what's actually moving things first. Up Solana.

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<v Speaker 1>Three separate stable coin announcements landed today all pointing at

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<v Speaker 1>the same chain. Meta is now routing USDC creator payouts

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<v Speaker 1>through Solana and Polygon via Stripe. A German company called

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<v Speaker 1>all Unity expanded its eurostable coin to Solana, and South

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<v Speaker 1>Korea's largest credit card network just partnered with Solana for

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<v Speaker 1>stable coin payments. Three stories, one thesis. Meta doing this

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<v Speaker 1>means millions of people will touch Solana without ever knowing it.

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<v Speaker 1>That's how real adoption works quietly underneath the surface. The

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<v Speaker 1>South Korean credit card deal is the more interesting one.

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<v Speaker 1>In plain English, a major traditional payments company chose a

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<v Speaker 1>crypto network to move money. When that happens, it stops

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<v Speaker 1>being headline and starts being the actual pipes money flows through,

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<v Speaker 1>and those pipes tend to stick around. If Solana transaction

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<v Speaker 1>volume shows a real uptick in the next two weeks,

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<v Speaker 1>the thesis has real world confirmation. If volume stays flat,

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<v Speaker 1>these were announcements, not adoption. Next Mara Holdings, the bitcoin minor,

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<v Speaker 1>just announced it's buying a company called long Ridge Energy

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<v Speaker 1>in a one point five billion dollar deal to build

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<v Speaker 1>AI data centers. Here's why that matters. When renting your

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<v Speaker 1>hardware to AI companies pays better than mining bitcoin you

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<v Speaker 1>either adapt or fall behind. Mara is adapting aggressively. The

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<v Speaker 1>question is whether the market sees this as smart diversification

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<v Speaker 1>or as a miner that lost confidence in its own business.

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<v Speaker 1>Watch how Mara trades relative to pure play miners like Clean,

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<v Speaker 1>Spark and Riot over the next week. That gap will

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<v Speaker 1>tell you which story investors believe now Bitcoin, specifically, it

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<v Speaker 1>keeps to listting eighty thousand dollars and keeps getting turned away.

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<v Speaker 1>The bets traders are placing on future prices are showing caution,

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<v Speaker 1>not panic. Nobody's selling in a frenzy. They're just not

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<v Speaker 1>buying either. Here's the tension. The data says, be careful,

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<v Speaker 1>but May is historically a stronger month for bitcoin. If

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<v Speaker 1>it breaks cleanly above eighty thousand with rising activity, that

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<v Speaker 1>ceiling flips to a floor. If it gets rejected again

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<v Speaker 1>and drops below seventy four thousand, the cautious mood becomes

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<v Speaker 1>a real down trend. And in the layer two space, faster,

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<v Speaker 1>cheaper networks built on top of ethereum, things are moving fast.

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<v Speaker 1>Megath's total value locked surged over two hundred and thirty

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<v Speaker 1>percent in seven days after its token launched on major

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<v Speaker 1>exchanges ape Chain was up sixty percent, Loomia Prism up

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<v Speaker 1>nearly forty, but Manta Pacific and Sonium each dropped around

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<v Speaker 1>fifteen percent in the same week. Token launches bring capital,

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<v Speaker 1>and capital creates the appearance of traction. The more honest

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<v Speaker 1>signal is ape Chain and Lumia gaining without a token launch.

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<v Speaker 1>That's real money moving in the chains. Losing ground quietly

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<v Speaker 1>are smaller networks without a clear reason to exist, getting

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<v Speaker 1>drained as attention moves elsewhere. Quick Hits with Sabi protocol

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<v Speaker 1>got hit for over five million dollars in a cross

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<v Speaker 1>chain exploit, the second significant hack this month. The US

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<v Speaker 1>Treasury confirmed it seized five hundred million dollars in Iranian

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<v Speaker 1>crypto assets, one of the largest government enforcement actions on record.

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<v Speaker 1>The Genius Act stable coin bill is still hitting procedural

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<v Speaker 1>hurdles in the Senate. A key senator flagged the timeline

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<v Speaker 1>is uncertain, which matters because this would be the first

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<v Speaker 1>major US stable coin law. South Korea is seeking a

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<v Speaker 1>twenty year prison sentence for the CEO of Delhio, a

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<v Speaker 1>crypto lender that collapsed, and World Liberty Financials token unlock

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<v Speaker 1>vote is passing. It basically unanimous approval closing May sixth

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<v Speaker 1>a meaningful increase in token supply is effectively a done deal.

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<v Speaker 1>All right, Before we get into the risks, quick word

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<v Speaker 1>from our sponsor. Okay, we're back. Let's talk about what

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<v Speaker 1>to watch for. Three risks worth keeping on your radar. First,

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<v Speaker 1>fear and greed is at twenty nine points while Bitcoin

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<v Speaker 1>is still holding above seventy six thousand. That gap doesn't

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<v Speaker 1>usually last. Either confidence catches up the price and we

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<v Speaker 1>get a rally, or price catches down to confidence and

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<v Speaker 1>we get a pullback. Historically, when this gap sticks around

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<v Speaker 1>more than five days, it's price that moves. Second, stable

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<v Speaker 1>coin supply is shrinking slightly, heading into a resistance test.

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<v Speaker 1>You can't push through a ceiling without fresh money entering

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<v Speaker 1>the system Right now, that money isn't showing up. Third,

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<v Speaker 1>North Korea, seventy six percent of this year's hack loss

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<v Speaker 1>is traced to one state level actor. This isn't a

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<v Speaker 1>software bug you can patch. It's a government running crypto

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<v Speaker 1>theft as a full time operation. The industry can improve

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<v Speaker 1>its defenses, but it's playing a different game than a

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<v Speaker 1>typical hacker. Looking ahead, Bitcoin's monthly options expiry resets trader

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<v Speaker 1>positioning this weekend. The first few sessions of May will

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<v Speaker 1>tell us whether the seasonal bullfisis has real buying behind

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<v Speaker 1>it or whether it's just a calendar story. The World

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<v Speaker 1>Liberty Financial Token unlocked vote closes May sixth. Markets may

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<v Speaker 1>start pricing in that supply increase before it officially closes,

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<v Speaker 1>and keep one eye on the Genius Act. Any movement

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<v Speaker 1>in the Senate this week could speed up or derail

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<v Speaker 1>the first major US stable coin law, which would directly

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<v Speaker 1>affect how USDC and Tether operate going forward. That's the

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<v Speaker 1>April thirtieth Pulse. For those of you who are serious

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<v Speaker 1>about your portfolio, Token Metrics Roundtable gives you private AI

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<v Speaker 1>portfolio reviews, live monthly discussions, and everything in our alpha plan.

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<v Speaker 1>Head to tokenmetrics dot com to see if it's a fit.

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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. I'm Alex, See you next time.