SnapShot 255

Hello SnapShotters,

The 'peace rally' found its second wind after US President Donald Trump announced an indefinite extension of the ceasefire. The diplomatic breakthrough saw BTC stage a steady recovery, reaching an 11-week high of $79,449 mid-week.

With the Fear & Greed Index decisively exiting the 'extreme fear' zone to hit a high of 46 on 23 April, institutional conviction continues to deepen. Total global crypto investment products recorded approximately $1.4 billion in net inflows this week — the second-strongest window of 2026 — with US spot BTC ETFs alone capturing nearly $1 billion of that demand.

Strategy (MSTR) has overtaken BlackRock’s IBIT in total holdings after acquiring 34,164 BTC for $2.54 billion. Its treasury now exceeds 815,000 BTC, valued at roughly $61 billion. Not to be outshone, BitMine led the charge for the 'Ethereum-as-a-hedge' thesis, adding 101,627 ETH to its reserves as ETH holds above the $2,300 mark.

As corporate 'diamond hands' continue to absorb the supply, the market appears to be adopting a more risk-on mentality ahead of the late-April FOMC meeting.

Let’s dive into the week’s top stories.

News Snaps

🛍️ AI-Driven Retail Traffic Jumps 393% in Q1 

New Adobe Analytics data shows AI-driven shoppers are now outperforming humans, with conversion rates 42% higher and revenue per visit 37% above non-AI sources.

🃏 Pokémon RWAs Near Record Highs 

Weekly revenue for tokenised Pokémon TCG marketplaces hit $5.38 million on 6 April, just shy of the all-time high set in September 2025.

🛡️ Ripple Targets 2028 for 'Quantum-Safe' XRP Ledger 

Ripple has unveiled a multi-phase roadmap to secure the XRP Ledger (XRPL) against quantum threats by 2028, with active testing beginning in the first half of 2026.

🚨 Kelp DAO Hit by $292M Exploit, the Largest in 2026

An exploit targeting Kelp DAO’s rsETH token triggered a systemic liquidity crunch across the DeFi sector, draining lending markets like Aave. The incident reignited debates over the contagion risks inherent in modular cross-chain security.

🪙 USDT Hits ATH Market Cap as DeFi Users Take to Safety
Tether’s market cap climbed 2.1% to a record $188 billion, widening its lead over Circle’s USDC following the recent high profile exploits in the past week.

What’s Ahead

🗓️ 28 to 29 April: FOMC Minutes

The Federal Open Market Committee (FOMC) will meet to determine the next phase of US monetary policy, with the target federal funds rate currently sitting at 3.50% to 3.75%. According to the CME FedWatch Tool, there’s a near-certainty the Fed will maintain current rates.

Number of the Week

Source: Decrypt

Chart of the Week

Bitcoin Funding Rates Turn Negative

Bitcoin funding rates (7-day moving average) plunged to -0.008% on 18 April, hitting their most negative levels since 2023. 

This deep 'short-bias' reveals bearish sentiments, where short sellers are paying long holders to keep their positions open. 

Remarkably, BTC has climbed from $65,000 to $75,000 despite this scepticism; this climb up the 'wall of worry' suggests the market is heavily over-leveraged to the downside.

If $75,000 holds as support, a short squeeze could serve as a catalyst to push BTC toward further upsides.

As of 19 April 2026

Sources: CryptoQuant, Crypto.com Research

Research & Insights

DeFi’s Fragility in the Spotlight

The latest DeFi & L1L2 Weekly dives into the systemic shockwaves caused by a $293 million exploit of Kelp DAO’s rsETH bridge contract. The breach, rooted in a 'single point of failure' configuration within the LayerZero protocol, allowed attackers to mint unbacked tokens and drain liquidity across major lending markets like Aave. 

While the industry grapples with estimated bad debts and potential legal precedents from Circle's new class-action lawsuit, institutional progress continues in the background, highlighted by Stripe’s new privacy-focused zones and DoorDash’s move into stablecoin payouts.

Is your favourite DeFi protocol part of the 45% still running on a single-verifier risk?

Read the full DeFi & L1L2 Weekly report here.

Crypto Trivia

Which type of digital asset has officially overtaken traditional bank wires as the preferred payment method for nearly 10% of global remote contracts?

A) Governance tokens
B) Layer-1 native assets (e.g., BTC, ETH)
C) Fiat-backed stablecoins (e.g., USDC, USDT)

Find the correct answer at the end of this newsletter.

New Token

Based (BASED)

Based is an App designed to simplify the on-chain experience by combining multiple financial activities typically fragmented across different dApps. The $BASED token is the ecosystem’s native utility asset, linking user activity with platform-level benefits like trading fee discounts and staking rewards.

This is informational content only and should not be considered as an investment recommendation. Some Crypto.com products may not be available in some jurisdictions.

Byte Sized

Are you familiar with the BTC whitepaper that sparked the birth of the trillion-dollar asset?

Follow Us on Instagram!

Security Tips

FBI Reports Significant Losses From AI Crypto Scams

According to the FBI, crypto and AI scams — including deepfakes and impersonation — are driving massive financial losses. Attackers use AI-generated content to impersonate trusted individuals, executives, or investment advisers. These tools make scams harder to detect, especially when paired with traditional tactics like urgency, fear, and promises of high returns.

As these technologies evolve, scams become more scalable and personalised, increasing the risk for both new and experienced users.

How to Keep Funds Safe:

• Be cautious of messages, calls, or videos that create urgency or appear unusually convincing
• Verify identities through official channels, especially when approached by strangers
• Avoid investment opportunities that promise guaranteed or unusually high returns

Crypto Trivia Answer

C) Fiat-backed stablecoins (e.g., USDC, USDT) ✅

In 2025, stablecoin payroll volume surged over 700% as freelancers in high-inflation markets increasingly chose USDC to bypass slow banking rails and currency conversion fees.

That's it for this week's SnapShot. Want more? Find out what’s trending in the crypto world.