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Almost $300B Wiped Out of Crypto Markets as Bitcoin Plunged to 5-Month Low (Market Watch)

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Panic selling amid growing economic fears of Trump’s controversial tariffs accelerated in the past 12 hours, resulting in massive losses for BTC and the altcoins.

The cumulative market capitalization of all digital assets dumped to a multi-month low of under $2.5 trillion on CG.

BTC Slumps Hard

The primary cryptocurrency had a highly volatile trading week last time around as the asset went from $81,500 on Monday to $88,500 by Wednesday. However, Trump’s escalating Trade War and the subsequent responses from countless countries brought back the panic, uncertainty, and fear.

BTC started to lose value rapidly, and even though it managed to defend the $80,000 support on a few occasions, it ultimately gave in on Sunday evening. After a relatively quiet Saturday, the asset slumped to a monthly low of $77,000 on Monday morning during the Asian trading session.

The landscape worsened in the following hours as the European markets also opened. So far, BTC’s low came at just over $74,000, which is its worst price tag in roughly five months. However, more volatility is expected later when the US markets open as their futures have plunged violently.

For now, bitcoin’s market capitalization has nosedived to $1.5 trillion on CG even though its price has recovered slightly to $76,000. Its dominance over the alts has soared to 60.7% as they have bled out even more severely.

BTCUSD. Source: TradingView
BTCUSD. Source: TradingView

Alts in Freefall Mode

As mentioned above, the landscape around the altcoins is viciously painful. As the graph below will demonstrate, very few have been spared with single-digit price declines, such as BNB. The rest, including ETH and XRP, have plummeted by 15-8%.

Cryptocurrency Market Overview. Source: QuantifyCrypto
Cryptocurrency Market Overview. Source: QuantifyCrypto

The most significant losses come from the likes of KCS (-22%), LTC (-20%), AAVE (-19%), MOVE (-17.5%), UNI (-17.5%), and many others.

This severe crash has erased almost $300 billion from the total crypto market cap in a day, which is now down below $2.5 trillion on CG.

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Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.

Cryptocurrency charts by TradingView.

Cryptocurrency

ChainGPT and Cronos Announce Strategic NFT Partnership to Power Scalable AI Solutions

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[PRESS RELEASE – Dubai, United Arab Emirates, April 10th, 2025]

ChainGPT, a pioneer in blockchain AI solutions, announced a partnership with Cronos, the premier EVM-compatible blockchain built for scalability, interoperability, and next-generation decentralized applications.

This collaboration marks a pivotal step in ChainGPT’s mission to revolutionize the NFT space through advanced AI tools. By integrating with Cronos’ high-performance blockchain network, ChainGPT will enhance its AI NFT Generator to support scalable, low-cost, and interoperable NFTs like never before.

Cronos, built using the Cosmos SDK and leveraging the Inter-Blockchain Communication (IBC) protocol, is designed for seamless cross-chain connectivity. With native EVM compatibility, Cronos makes it easy for Ethereum-based dApps to deploy on a faster, more efficient Layer 1 blockchain.

Through this partnership, ChainGPT users will now benefit from:

  • Fast, low-cost NFT minting powered by Cronos
  • AI-driven NFT creation with seamless interoperability
  • Enhanced scalability for Web3 developers and creators

“Cronos provides the infrastructure to take our AI NFT tools to the next level. This partnership brings powerful blockchain performance to creators who rely on our platform to innovate with AI. It perfectly matches cutting-edge AI with a world-class decentralized network.” said Ilan Rakhmanov, Founder of ChainGPT and CEO of ChainGPT Software

The integration unlocks new capabilities for developers and artists alike. Users can now mint interoperable, AI-generated NFTs on a scalable chain with just a few simple prompts. Cronos’ ecosystem supports the end-to-end process from creation and trading to utilization and governance, making it a vital partner in the continued expansion of ChainGPT’s Web3 offerings.

“We’re excited to collaborate with ChainGPT to bring AI-generated NFTs to the Cronos ecosystem. As demand grows for smarter and more scalable NFT solutions, this partnership represents a significant step forward. It allows our users to take advantages of AI technology to generate NFT to increase community engagement.” by Emily Sit, Ecosystem Development at Cronos

As both ecosystems grow, this partnership signals a long-term commitment to expanding the boundaries of what’s possible with AI and blockchain. Users can now explore the ChainGPT AI NFT Generator on Cronos and join the movement toward faster, smarter, and more accessible Web3 tools.

To get started with AI-powered NFTs, users can visit: https://nft.chaingpt.org/

About Cronos

Cronos is a leading blockchain network built for speed, efficiency, and interoperability. Despite being a Layer 1 chain built with the Cosmos SDK, Cronos prides itself on being highly interoperable. This is thanks to its unique Inter-Blockchain Communication (IBC) protocol. This protocol supports DeFi, NFTs, and Web3 applications, bringing a number of different use cases to Cosmos.

About ChainGPT 

Incepted in 2023, ChainGPT is a leading provider of AI-powered tools for the blockchain and Web3 industries. It emerged as a project to bridge the gap between blockchain technology and AI, creating innovative solutions for the Web3 ecosystem. Leveraging advanced AI techniques, ChainGPT enhances blockchain functionality with its tools and applications, including SDKs and APIs for automated smart contract generation, a Web3 AI chatbot, an NFT generator, and an IDO launchpad. With established partnerships and collaborations with industry leaders such as Google, Nvidia, and BNB Chain, ChainGPT continues to pioneer efficient and user-friendly AI solutions in the blockchain space.

As a relatively young but rapidly growing project, ChainGPT’s mission is to revolutionize the intersection of blockchain and AI, with a vision to unlock the potential of autonomous AI agents in Web3.

Users can learn more at: https://www.chaingpt.org/

General Resources:

Website | Crypto AI Hub | ChainGPT Labs | ChainGPT Pad | CryptoGuard |

CGPT DAO | AI NFT Generator | Staking | Blog 

Community and Social Media:

Twitter | Pad Twitter | Telegram |TelegramBot| Discord | Instagram | LinkedIn | YouTube | TikTok

For Media Queries

Richa | richa@chaingpt.org & Sharon | sharon@chaingpt.org

️To learn more about ChainGPT, users can visit the official ChainGPT.org website

️For all inquiries, users can contact support@chaingpt.org

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Cryptocurrency

XRP Soars 10% to $2, BTC Gains Over $6K After Tariff Pause (Market Watch)

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The trade war continues to impact the cryptocurrency market hard, but this time in a more positive way as BTC jumped to over $83,000 yesterday after the tariff pause for almost all countries.

The altcoins are also well in the green, with XRP leading the charge from the larger caps.

BTC Skyrockets

It has been a wild ride in the crypto industry lately, prompted by Trump’s continuous moves on the macro scene. It all began last Wednesday during the so-called ‘Liberation Day’ when he imposed a 10% tax essentially on the entire world, while countries like these in the EU and China got even bigger percentages.

While some retaliated, Trump became even more aggressive and increased the Chinese tariffs to 104% and then 125% yesterday. At the same time, he paused for 90 days the taxes against all other countries.

All of this news brought massive volatility to crypto. Just from this Monday, BTC’s price had dropped to and below $75,000 on a couple of occasions, with the latest example coming yesterday. However, the aforementioned pause served as a propeller for immediate gains and bitcoin skyrocketed by almost nine grand from bottom to the top.

It tapped $83,500 earlier but couldn’t continue north. As of now, it remains above $81,000 after a small correction. Its market cap has soared to $1.620 trillion on CG, and its dominance over the alts is well above 60%.

BTCUSD. Source: TradingView
BTCUSD. Source: TradingView

Alts Now in Green

The altcoins went on a similar rollercoaster with massive declines and rebounds. The past 12 hours or so have been a lot more positive. XRP leads the pack from the bigger ones, as its price has neared $2 after a 10% daily surge.

Cryptocurrency Market Overview. Source: QuantifyCrypto
Cryptocurrency Market Overview. Source: QuantifyCrypto

Ethereum has jumped back to $1,600 after charting a multi-year low earlier this week. Other impressive gainers over the past day include SOL, DOGE, ADA, TRX, LINK, AVAX, SUI, and SHIB.

The total crypto market cap has added over $100 billion and is close to $2.7 trillion on CG.

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Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.

Cryptocurrency charts by TradingView.

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Cryptocurrency

Important Ripple v. SEC Lawsuit Update Coming on April 16?

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TL;DR

  • The XRP army is awaiting developments on April 16, when Ripple’s appellate brief is due.
  • Legal expert Fred Rispoli suggests there’s a 90% chance of a settlement or withdrawal notice.

The Official End is Near?

The Ripple community celebrated the supposed end of the lengthy lawsuit against the US Securities and Exchange Commission (SEC) last month when CEO Brad Garlinghouse said the agency had dropped its appeal against the company.

However, the regulator has remained silent on the matter, raising the question of whether the case has truly reached its conclusion.

The US attorney Fred Rispoli expects to see something happening on that front on April 16 or before. The date marks Ripple’s scheduled appellate brief.

The legal expert believes there is a minor 10% possibility that the firm files the document, while the chance of a notice of settlement/withdrawal is set at 90%. 

Rispoli also claimed that Ripple made the announcement about the dropped appeal without written assurances from the SEC. 

“Nothing official has been done yet to effectuate the public announcement,” he added.

The Latest Confrontation

A filing from Justin W. Keener became the recent bone of contention between Ripple and the SEC.

The court document was submitted at the start of April and represents “an emergency request” to Judge Analisa Torres to “present decisive evidence in favor of the defendants and in favor of liberty for the American people.”

It remains unclear how the information aids Ripple, but it hints at ties to investment contracts Keener has collected. Meanwhile, the agency recently sued him for acting as an unregistered penny stock dealer, leading to a $10 million penalty.

Earlier this week, the Commission opposed the “emergency request” for three important reasons. It claimed that the District Court had no jurisdiction over the filing since the case had already been transferred to the Second Circuit and argued that Keener failed to file the correct motion to intervene.

Furthermore, the SEC labeled the request “unnecessary,” asserting that Ripple is capable of deciding for itself whether the evidence could benefit its case.

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