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- Bitcoin, Ethereum, Cosmos, and More Week 18 2025
Bitcoin, Ethereum, Cosmos, and More Week 18 2025
Keeping you updated on crypto, web3 and blockchain
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TL;DR
Bitcoin Could Hit $1M by 2029
Coinbase's Bitcoin Yield Fund to Launch
Grayscale Urges SEC to Approve Ethereum ETF Staking
FIFA Shifts NFT Platform to Ethereum Blockchain
Cosmos SDK v0.53.0 Brings Major Upgrades
Stargaze Plans Migration to Cosmos Hub
Ripple's $4B-$5B Offer for Circle Rejected
Stripe's Bridge and Visa Launch Stablecoin Cards
and much more!
Market, Airdrop & Memecoin Update
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Bitcoin Highlights of the Week
MicroStrategy has added 15,355 BTC to its reserves in a $1.42 billion purchase, executed at an average price of $92,737 per Bitcoin. This brings the firm’s total holdings to 553,555 BTC, now valued at over $52 billion with BTC trading near $95,000. The acquisition was financed through proceeds from common and preferred stock offerings.
MicroStrategy’s total Bitcoin investment now stands at $37.9 billion, with an average entry price of $68,459. Up 13.7% year-to-date on its BTC position, the company remains the most aggressive corporate accumulator of Bitcoin, signaling deep, continued institutional conviction in crypto’s flagship asset.
El Salvador has paused official Bitcoin purchases under its $1.4 billion IMF agreement, which requires the government to halt BTC accumulation using public funds. Despite this, on-chain data shows the country’s Bitcoin holdings quietly increasing, now at 6,160 BTC—up from 6,055 in February.
Daily BTC movements continue, but recent transfers suggest internal wallet reshuffling rather than fresh market buys. The IMF’s focus remains on fiscal and governance reforms, not Bitcoin policy. Still, El Salvador appears committed to growing its Bitcoin reserves indirectly, maintaining its long-term crypto strategy while staying compliant with IMF conditions for economic reform.
Coinbase Asset Management is launching the Bitcoin Yield Fund (CBYF) on May 1, 2025, offering institutional investors the opportunity to earn 4% to 8% annual returns in Bitcoin. The fund employs a conservative cash-and-carry arbitrage strategy, leveraging price differences between Bitcoin’s spot price and perpetual futures.
Exclusively available to non-U.S. institutions, CBYF avoids high-risk tactics such as high-interest lending. Coinbase ensures third-party custody for added security and compliance, aiming to provide a safer, more accessible way for large investors to participate in Bitcoin’s growth.
Bitcoin's institutional adoption, fueled by ETF growth and government demand, could propel its price to $1 million by 2029, says Bitwise’s André Dragosch. He estimates Bitcoin may reach $200,000 by 2025 in a base scenario, with potential for $500,000 if the U.S. government makes direct Bitcoin acquisitions.
ETFs have already exceeded expectations, setting the stage for prolonged price growth as they attract significant institutional capital. With further support from U.S. wirehouses controlling $10 trillion in assets, Bitcoin's market capitalization could rival gold's by 2029, driving its value beyond $1 million.
Michael Ellis, Deputy Director of the CIA, has emphasized that Bitcoin is increasingly integrated into U.S. national security operations, highlighting its role in counter-intelligence and tracking activities. Ellis acknowledged Bitcoin’s maturation as an asset, with more institutions adopting it, noting its significance in global competition, particularly with China.
His remarks reflect a growing government interest in cryptocurrencies, diverging from the original cypherpunk philosophy. The U.S. government's involvement with Bitcoin signals its potential as a strategic asset, despite concerns within the crypto community about the loss of Bitcoin’s libertarian ethos.
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Ethereum Highlights of the Week
Base has reached "Stage 1" in Ethereum’s rollup decentralization framework, marking a significant step toward reducing centralization. The update includes the integration of fault proofs, enabling users to challenge invalid transactions and enhancing network security and transparency.
Additionally, a decentralized security council, consisting of 10 members, has been introduced to oversee upgrades. Changes will require a 75% consensus, ensuring more decentralized governance. This milestone aligns with Vitalik Buterin's vision for Ethereum's rollups, bringing increased resilience and scalability to the ecosystem.
Grayscale is pushing the SEC to permit staking for Ethereum ETFs, arguing that the decision would unlock millions in rewards while enhancing Ethereum’s security. The company revealed that U.S.-based Ethereum exchange-traded products (ETPs) have missed out on approximately $61 million in staking rewards, which have instead gone to non-U.S. ETPs.
Grayscale’s request highlights how staking would bolster Ethereum’s network and bring additional returns to investors. They also introduced strategies to mitigate risks during unstaking periods, emphasizing the growing need to update regulations in line with the evolving crypto market.
A group of independent developers has unveiled Ethereum R1, a new layer-2 scaling solution for Ethereum. Unlike traditional L2 solutions, Ethereum R1 operates without a native token, pre-mined allocations, or venture funding. Its focus is on decentralization, credible neutrality, and censorship resistance.
The project aims to address concerns in the Ethereum community about the direction of many current L2 solutions, which are seen as misaligned with Ethereum's base layer. Ethereum R1's introduction marks a step toward simplifying Ethereum scaling while maintaining full transparency and decentralization.
FIFA is launching a new Ethereum-compatible blockchain to host its NFT collections, marking a shift from the Algorand blockchain. The FIFA Blockchain will enhance performance, scalability, and future capabilities, supporting FIFA Collect’s migration, starting May 20, 2025.
NFT holders will be able to use MetaMask or other EVM-compatible wallets post-migration. This move underscores FIFA's increasing focus on NFTs and Web3 gaming, alongside the upcoming FIFA Rivals game slated for 2025, signaling a growing commitment to blockchain integration in the sports and gaming sectors.
Vitalik Buterin’s long-term vision for Ethereum focuses on scalability, privacy, and decentralization. The upcoming Pectra upgrade, scheduled for May 2025, merges execution and consensus layers, improving smart contract security and wallet functions. Subsequent upgrades, Fusaka and Glamsterdam, will address scaling and gas optimization.
Buterin’s research explores new execution models, privacy features, and a modular architecture to enhance Ethereum's flexibility and resilience. The aim is to balance global scalability while safeguarding Ethereum's decentralized nature, ensuring its leadership in the evolving crypto space and reinforcing its role in DeFi, NFTs, and Web3 applications.
Cosmos Highlights of the Week
Cosmos SDK v0.53.0 is live, delivering key features focused on extensibility and minimal upgrade friction. Highlights include unordered transactions for greater flexibility, epoch-based execution for scheduled logic, and custom minting modules. The update also introduces expanded community pool tools and protocol-specific governance tallying.
Built from builder feedback, the release minimizes API breakage while enhancing modularity. Developers can upgrade with just a single line added to app.go. Designed to reduce development overhead and improve customization without forking, this release sets the tone for future SDK enhancements centered on ease and control.
Stargaze founder Shane has announced a major strategic shift: migrating the Stargaze protocol to Cosmos Hub and converting the native $STARS token into $ATOM. This move is intended to align Stargaze more closely with the broader Cosmos ecosystem and foster deeper protocol integration.
A formal proposal detailing the migration plan is currently being drafted and will soon be shared on the Cosmos Hub forum. This development signals a potential consolidation of community efforts under the ATOM economic zone and could reshape the governance and utility landscape for both Stargaze and Cosmos.
Injective has tokenized Meta stock ($META), enabling 24/7 trading with up to 25x leverage on the Helix platform. Using its iAsset framework, Injective allows global users to trade traditional equities like Meta as programmable financial assets. This marks a major step in real-world asset (RWA) tokenization, joining prior listings like $GOOGL and $TSLA.
Traders gain access to decentralized liquidity, advanced DeFi strategies, and unrestricted market hours. Injective aims to tokenize every major stock, bond, and ETF, establishing a new financial paradigm built on onchain accessibility and composable finance.
Nillion has launched Fission, a secure and fast large language model (LLM) that promises to deliver private AI interactions without compromising speed. Using secure multiparty computation (MPC), Fission ensures sensitive data remains protected while running models like GPT and BERT 3-8 times faster than existing solutions like Crypten.
This innovation tackles the challenge of privacy in AI, offering a solution that combines high-performance with robust data security, ensuring that users can access the power of AI without the risks of data leakage.
Stride has launched Stride Swap, a new multichain DEX purpose-built for the Cosmos Hub, leveraging IBC Eureka. With an investment from the Interchain Foundation, Stride Swap will provide advanced trading features, liquidity solutions for Cosmos Hub DeFi, and bridge swaps for IBC Eureka.
Key features include limit orders, DCA, built-in vaults, and the rehypothecation of idle liquidity. Stride will continue its focus on Stride Swap, integrating stATOM into the platform. This marks a significant step in enhancing liquidity and interoperability within the Cosmos ecosystem.
Other Highlights of the Week
Ripple made a buyout offer between $4 billion and $5 billion for Circle, the issuer of the USDC stablecoin. However, the proposal was rejected by Circle, as it was deemed too low. Despite the rejection, Ripple remains interested in acquiring Circle, though it has yet to decide whether to make another offer.
Ripple's RLUSD stablecoin has a market cap of around $300 million, while Circle's USDC dominates with over $60 billion in market cap. Circle is also part of a growing number of crypto firms preparing for public offerings.
Stripe's Bridge has teamed up with Visa to introduce stablecoin-backed Visa cards, enabling purchases with stablecoin balances. This partnership, initially rolling out in Argentina, Colombia, Ecuador, Mexico, Peru, and Chile, allows seamless fiat conversions and crypto payments.
The product aims to simplify payments for stablecoin holders, enabling purchases at Visa-accepting merchants. Developers can use Bridge's infrastructure to integrate stablecoin payments, providing an easy path for stablecoin users to access crypto payments in everyday transactions.
Movement Labs has suspended co-founder Rushi Manche following allegations of token dumping, which resulted in a significant drop in the value of the MOVE token. The token was reportedly dumped by a market-making entity, worth $38 million, shortly after its December airdrop. This led to an 86% decrease in its value, now trading at $0.1960.
The company has initiated a third-party investigation through Groom Lake to assess governance and the market maker’s involvement in the controversy. The MOVE token has seen a 22% decline in the past 24 hours.
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