CoinSignals

The Philippine Securities and Exchange Commission has issued a public warning against several crypto trading platforms that are not authorized to operate within the country.

Among those identified is the decentralized trading platform dYdX. The regulator stated that it has received reports indicating these platforms are offering investment opportunities and collecting funds from users with promises of returns, profits, or interest, activities that fall under its regulatory scope.

It cautioned that investors who engage with unregistered platforms face heightened risks, including potential fraud and limited legal protection in the event of disputes.

Regulatory Pressure on Crypto Platforms

According to the SEC, dYdX is not registered with the Commission and does not have the required authorization to solicit or accept investments from the public.

The regulator emphasized that its records show dYdX is neither registered as a corporation, partnership, nor a one person corporation in the Philippines. It also lacks the necessary license or authority to offer, sell, or distribute securities, or to operate as a broker or dealer under existing securities laws.

The SEC reiterated that under its Crypto Asset Service Provider rules, all entities offering crypto related services to investors in the country must first register and obtain the appropriate licenses.

It further warned that individuals acting as salespersons, brokers, dealers, agents, promoters, recruiters, influencers, endorsers, or facilitators for dYdX within the Philippines, whether online or offline, could face criminal liability under the Securities Regulation Code.

Penalties for violations may include fines of up to five million pesos, imprisonment of up to twenty one years, or both, depending on the court’s decision.

Other Unregistered Platforms Identified

In addition to dYdX, the SEC also listed Aevo, GTrade also known as Gains Trade, Pacifica, Orderly, Deriv, and Ostium as unregistered entities that are not permitted to offer crypto asset services or investment opportunities to Filipino investors.

The Commission urged the public to verify the registration status of any company before investing and encouraged reporting of suspicious activities to its Enforcement and Investor Protection Department.#crypto#cryptonews https://coinsignals.net https://t.me/coinsignalpublic

Michael Egorov, founder of Curve Finance, has raised serious concerns about security failures across decentralized finance, questioning the industry’s credibility as repeated exploits continue to occur. He pointed out that during these incidents, different platforms often deflect responsibility onto one another while insisting their systems are functioning, even as users are left unable to access their funds.

Egorov urged the creation of shared security standards across the DeFi space, especially as many recent hacks have stemmed from centralized points of failure. One of the most recent cases, the KelpDAO exploit, stands among the largest breaches in recent months and has further weakened market confidence.

Call for a DeFi Security Overhaul

In a recent statement, Egorov emphasized that many of these attacks could have been avoided and are steadily eroding trust in the sector. He referenced a recent incident involving Aave, where users were unable to withdraw funds after the exploitation of rsETH. This occurred despite assurances from multiple parties, including the protocol and its infrastructure providers, that their systems were operating as expected.

According to Egorov, this pattern of shifting blame reveals a deeper structural flaw within DeFi. The heavy reliance on interconnected systems means that when one component fails, users can be left exposed. He stressed that risks linked to centralized dependencies should be reduced wherever possible, and when they cannot be eliminated, trust should be spread across multiple entities rather than concentrated in one place.

He suggested that the industry should collaborate to establish clear safety standards, including guidelines on how to build secure systems and how to verify their safety. He encouraged developers, auditors, and risk assessment groups to contribute their best practices and ensure they are widely understood and applied.

Egorov also proposed that major ecosystem organizations such as the Ethereum Foundation and the Solana Foundation could help coordinate these efforts by bringing together key stakeholders to define shared security principles. He added that while DeFi aims for decentralization, it can still learn from traditional finance in managing unavoidable centralized risks.

Mounting Pressure on DeFi

The KelpDAO exploit has added to the growing strain on the DeFi sector. Following the incident, total value locked dropped sharply across several networks within a single day, with notable declines on Cosmos Hub.

Investigations by ZachXBT and Arkham Intelligence indicate that the stolen funds are already in motion. Data shows two significant Ethereum transactions took place during European trading hours on Tuesday, with portions of the stolen assets being moved across different blockchains.

Some of the funds were transferred to Bitcoin through Thorchain, while a smaller portion was routed via Umbra, a privacy focused protocol. These laundering patterns are similar to previous operations associated with the Lazarus Group, which has used comparable methods in the past.#crypto#cryptonews https://coinsignals.net https://t.me/coinsignalpublic

At the moment, even small price movements are enough to swing sentiment from fear to optimism, without altering the broader short term trend.

Over 106,000 BTC moved into Binance deposit addresses on April 21, while approximately 130,000 BTC flowed into OKX. These volumes have not been seen since the final phase of the previous bear market, according to on chain analyst Darkfost. The timing is notable, as Bitcoin has been trading sideways for nearly three months, suggesting that the market may be losing patience before sellers are fully exhausted.

What the Exchange Inflows Indicate

To put the figures into perspective, Binance typically records about 44,000 BTC in daily deposit inflows over the year, while OKX averages around 74,000 BTC. This means Tuesday’s figures were more than twice the usual levels on both exchanges.

Darkfost explained that these inflows are meaningful. When investors intend to sell, their Bitcoin is first sent to deposit addresses before being transferred into the exchange’s operational wallets. This surge therefore reflects holders preparing to sell rather than random activity.

He also noted that traders appear uncertain, torn between optimism for a new upward trend and fear of further losses.

However, the situation is not entirely bearish. Darkfost pointed out that in the current environment, even small price changes can quickly shift sentiment from extreme fear to strong optimism, while the broader short term trend remains unchanged.

He summarized this idea by noting that markets are not always disrupted by volatility, but can instead become worn out by prolonged consolidation.

Looking at derivatives data from the same 24 hour period, more than 112,000 traders incurred losses totaling about 277 million dollars. The largest single loss was a 6.43 million dollar Bitcoin position on Hyperliquid.

Macro Pressure Affecting Bitcoin

The three month trading range has been heavily influenced by geopolitical developments. Bitcoin moved from below 70,500 dollars to 75,000 dollars during ceasefire discussions in the week of April 14, briefly climbed to 76,000 dollars, and then spent several days fluctuating between 73,500 and 75,600 dollars before the reopening of the Strait of Hormuz pushed prices higher again.

However, tensions escalated once more as the United States and Iran resumed strikes over the weekend after Iran closed the Strait of Hormuz again. Bitcoin had briefly reached 78,400 dollars, its highest level in ten weeks, following positive remarks from Donald Trump regarding peace talks. It later pulled back after Iran rejected those claims and military activity resumed.

Currently, Bitcoin is trading above 76,000 dollars, up more than 2 percent over the past week, according to CoinGecko data. Gains are stronger over longer periods, with increases of more than 11 percent over two weeks and 10 percent over the past month. Despite this, it remains nearly 13 percent lower than its level a year ago and about 40 percent below its all time high of over 126,000 dollars reached in October 2025.#crypto#cryptonews https://coinsignals.net https://t.me/coinsignalpublic

XRP has shown signs of recovery over the past week, supported by steady buying pressure from bulls. The asset climbed toward the 1.50 dollar level منتصف the week before losing some momentum and settling around 1.43 dollars after sellers stepped in.

Fresh on chain data now suggests that a stronger bullish reversal may be taking shape.

Technical Signals Point to Possible Breakout

According to analyst Ali Martinez, XRP is transitioning from a bearish phase into a more positive trend. On the daily chart, the SuperTrend indicator has issued a buy signal for the first time since January. This shift suggests that selling pressure is easing after months of consistent downside signals.

XRP is currently testing a key resistance level at 1.55 dollars, an area where it has repeatedly failed to move higher. A confirmed daily close above this point could spark a relief rally and open the path toward the next major resistance near 1.90 dollars.

On shorter time frames, price action has formed a symmetrical triangle pattern, tightening into a narrow range. This setup often precedes a significant move, with estimates pointing to a potential swing of around 35 percent.

Whale Accumulation Strengthens Bullish Case

Data from Santiment shows that large holders accumulated roughly 360 million XRP over the past week. At the same time, supply is being withdrawn from exchanges, which typically signals growing confidence among investors.

Martinez noted that the bullish structure remains intact as long as XRP stays above the 1.30 dollar support level. A drop below this point could weaken the outlook and keep the asset stuck in a consolidation phase.

Institutional Demand Continues to Rise

Institutional interest is also contributing to the positive sentiment. Data tracked by SoSoValue shows that spot XRP exchange traded funds have recorded seven consecutive days of net inflows, marking the longest streak since late February.

On April 20 alone, spot XRP ETFs in the United States saw net inflows of 3 million dollars. Total net assets tied to these products have now reached approximately 1.08 billion dollars, highlighting sustained demand from larger investors.#crypto#cryptonews https://coinsignals.net https://t.me/coinsignalpublic

Arbitrum has taken urgent action to secure funds connected to the recent KelpDAO exploit, freezing 30,766 Ether held on Arbitrum One in a wallet associated with the attacker. The intervention was carried out without disrupting user activity on the network.

Security Council Coordinates With Authorities

Arbitrum confirmed that its Security Council worked alongside law enforcement to identify the exploiter and ensure the safety of the network. After conducting technical analysis and internal discussions, the council implemented a process to isolate and transfer the funds without affecting the broader system or its users.

The assets were moved into an intermediary wallet, effectively cutting off access from the original address and freezing the funds. The transfer was completed on April 20 at 11:26 pm Eastern Time, and any future movement of the assets will require governance approval involving key stakeholders.

Shortly before this action, Offchain Labs reported that the attacker appeared to have burned the same 30,766 Ether, valued at about 70.94 million dollars, on the network.

Details Behind the KelpDAO Exploit

The incident originated from the April 18 breach of KelpDAO, which resulted in the loss of around 116,500 rsETH tokens worth approximately 292 million dollars. It stands as one of the largest decentralized finance exploits this year.

The attackers targeted KelpDAO’s cross chain bridge built on infrastructure from LayerZero Labs. According to LayerZero, the breach occurred after the attacker compromised parts of its decentralized verification network by taking control of certain nodes and disrupting normal operations. This allowed a fraudulent cross chain message to be approved and executed.

LayerZero attributed the scale of the attack to KelpDAO’s reliance on a single verification setup, which lacked independent validation. In response, KelpDAO stated that this configuration followed LayerZero’s documented default settings for new deployments and had been confirmed as appropriate during previous discussions between the two teams.

Ripple Effects Across DeFi Protocols

The consequences of the exploit extended beyond the bridge itself, as a significant portion of the stolen assets was moved into lending platforms. On Aave V3, the attacker used rsETH as collateral to borrow large amounts of wrapped Ether.

These positions were left with low health factors, increasing the risk of bad debt within the protocol and adding further strain to the broader decentralized finance ecosystem.#crypto#cryptonews https://coinsignals.net https://t.me/coinsignalpublic

Aave is experiencing one of its most turbulent phases in recent memory following the April 18 exploit involving KelpDAO and its rsETH bridge. Attackers used stolen assets as collateral on Aave V3, borrowing about 196 million dollars in wrapped Ether and leaving the platform with significant bad debt.

In the immediate aftermath, the protocol saw a massive outflow of funds, with approximately 8.45 billion dollars withdrawn within two days. The AAVE token has since dropped by 17 percent, trading near 92 dollars.

Fear Spreads but Whales Signal Possible Opportunity

Despite the sharp downturn, data from CryptoQuant points to an interesting development. The platform observed a rise in large trade sizes through its Spot Average Order Size metric, indicating increased activity from major investors often referred to as whales.

Historical trends dating back to late 2022 show that similar spikes in whale activity have frequently coincided with local or broader market bottoms for AAVE. These patterns were seen during the 2022 bear market lows, consolidation phases in 2023, corrections throughout 2024, and again in early 2025.

Although this does not guarantee an immediate price reversal, such conditions have typically represented attractive risk reward zones for investors. Current sentiment reflects extreme fear, comparable to levels seen during the 2022 downturn, while whale accumulation appears to be increasing once again.

CryptoQuant noted that the situation remains uncertain but emphasized that similar environments in the past have drawn strategic buying. The firm suggested closely watching how Aave addresses its Umbrella reserve coverage for the estimated 196 million dollar shortfall and whether whale activity persists within the 85 to 95 dollar range.

Liquidity Strain Deepens Across the Protocol

Taking a broader view, analyst Duo Nine described Aave’s condition as highly stressed following the exploit. Several core markets reached full utilization, effectively preventing users from withdrawing funds.

Large investors quickly removed billions from the protocol after the rsETH incident, draining liquidity from major pools such as Ether, USDT, and USDC. As a result, users who did not exit early found themselves unable to access their assets.

The Ether market reached full utilization, blocking withdrawals and limiting the protocol’s ability to execute liquidations during sharp price movements, which increased the risk of further bad debt. This issue gradually extended to stablecoin markets, leaving even more funds locked.

According to the analyst, some users attempted to exit by borrowing against their locked positions and accepting losses, while others turned to decentralized exchanges like Uniswap to sell tokenized assets. Any new liquidity entering the system was quickly withdrawn, often within seconds, highlighting the severity of the liquidity crunch.#crypto#cryptonews https://coinsignals.net https://t.me/coinsignalpublic

The cryptocurrency market recorded a fresh wave of gains over the past 24 hours, with most leading digital assets moving higher. Bitcoin crossed above 76,000 dollars again, while several altcoins posted even stronger performances. However, Pi Network remained among the few assets still in decline.

Bitcoin Recovers Amid Volatile Conditions

Bitcoin has experienced notable price swings in recent days, largely influenced by geopolitical uncertainty in the Middle East. Toward the end of last week, the asset surged close to 78,000 dollars after Donald Trump announced that the Strait of Hormuz was open and suggested that Iran had agreed to halt its nuclear program.

Those claims were later denied, and renewed tensions in the region pushed Bitcoin below 74,000 dollars on April 20. Since then, the cryptocurrency has regained momentum, currently trading around 76,400 dollars, reflecting a 2 percent daily increase and an 11 percent gain over the past two weeks.

The rebound followed a major purchase by MicroStrategy, the firm founded by Michael Saylor. The company acquired 34,164 BTC for more than 2.5 billion dollars, bringing its total holdings to 815,061 BTC.

Bitcoin’s recovery has pushed its market capitalization above 1.5 trillion dollars, with its dominance over the broader market standing at approximately 57 percent.

Stellar Leads Altcoin Gains

Altcoins have generally mirrored Bitcoin’s upward movement, with several outperforming the leading cryptocurrency. Stellar emerged as the top performer, rising 7 percent to reach a monthly high of 0.18 dollars.

Other notable gainers include Toncoin, Mantle, and MemeCore, each posting increases of roughly five to six percent. Meanwhile, major assets such as Ethereum, XRP, and Solana recorded more modest gains of one to two percent.

On the losing side, Rain, DeXe, and Pi Network posted declines ranging from two to five percent.

Overall, the total cryptocurrency market capitalization increased by about 2 percent over the past day, reaching approximately 2.6 trillion dollars.#crypto#cryptonews https://coinsignals.net https://t.me/coinsignalpublic

A well known crypto trader, Doctor Profit, has warned that the altcoin market could decline back to levels last seen in 2020. He has backed this outlook with a bold move, committing 1 million dollars to short positions across a wide range of tokens.

High Risk Strategy Targets Broad Altcoin Weakness

In a post shared on X, Doctor Profit revealed that his approach involves 100 separate short positions, each valued at 10,000 dollars and placed with minimal leverage.

He described the current altcoin market as severely overvalued, comparing it to speculative assets seen during the Dot-com bubble. According to him, most altcoins are trapped in a prolonged downward trend, with as much as 90 percent of the sector showing persistent weakness.

The trader also dismissed the influence of social media promoters, accusing them of encouraging investment in low quality assets. He argued that the market lacks any meaningful catalyst that could reverse the current trajectory.

Doctor Profit pointed to the major liquidation event on October 10, 2025, when around 19 billion dollars in leveraged positions were wiped out. During that period, many altcoins lost between 50 percent and 80 percent of their value, leaving behind what he described as retail driven liquidity without institutional support.

His strategy assumes a potential 50 percent decline across his positions, which could generate about 500,000 dollars in profit. At the same time, risk is limited, as each position would only lose 10,000 dollars if a token’s price were to double.

He maintains that this is not speculation but a calculated view, likening altcoins to penny stocks that appear cheap but lack the fundamentals needed for recovery. He also noted that the sheer number of tokens in the market creates a large pool of opportunities for short sellers.

Some Analysts Expect Liquidity to Support a Rebound

Not all market participants share this bearish outlook. Analyst Mark Chadwick suggested that upcoming liquidity injections from the Federal Reserve could influence market direction.

He highlighted several expected developments, including billions of dollars in bond purchases and treasury related liquidity releases. According to Chadwick, these actions signal that quantitative tightening may be nearing its end, which could pave the way for a delayed altcoin rally rather than a complete collapse.

At the time of writing, Bitcoin was trading close to 76,000 dollars, showing modest daily gains and maintaining market dominance above 57 percent.

Major altcoins also recorded slight increases. Ethereum traded near 2,300 dollars, Solana hovered around 86 dollars, and XRP stood at approximately 1.43 dollars. Some analysts believe XRP could be preparing for a significant move, with potential price swings in either direction.#crypto#cryptonews https://coinsignals.net https://t.me/coinsignalpublic

Prediction markets platform Polymarket is reportedly in talks with investors to raise 400 million dollars in new funding, a move that could push its valuation to around 15 billion dollars, according to a report by The Information. This development follows a major funding round by rival Kalshi, which recently secured 1 billion dollars and reached a valuation of about 22 billion dollars.

If additional strategic investors participate, Polymarket’s total capital raised could approach 1 billion dollars.

Expansion Plans Drive Investor Interest

Polymarket has already secured a 600 million dollar investment from Intercontinental Exchange, the parent company of the New York Stock Exchange. The funding is part of a broader plan to allocate up to 2 billion dollars toward expanding its event based trading offerings.

The push for new funding comes as prediction markets gain traction. These platforms allow users to trade on the outcomes of real world events and have seen rapid growth in both participation and trading activity. Institutional investors are increasingly entering the space to benefit from this expansion.

Estimates from brokerage firm Bernstein suggest that prediction market volumes could reach 1 trillion dollars annually by 2030. So far this year, platforms like Kalshi and Polymarket have already recorded about 60 billion dollars in trading volume, surpassing the 51 billion dollars generated throughout 2025.

Bernstein expects volumes to rise to 240 billion dollars in 2026, representing a 370 percent increase year on year, with the market projected to grow at an annual rate of roughly 80 percent through the end of the decade. This expansion has been fueled by increasing user participation and a broader range of contracts covering sports, digital assets, and macroeconomic developments.

Weekly trading activity on Kalshi alone has exceeded 3 billion dollars, compared to around 100 million dollars a year earlier.

Concerns Over Insider Activity and Regulation Intensify

Despite strong growth, concerns about misuse and regulatory oversight continue to emerge. Blockchain analytics platform Lookonchain recently identified a cluster of newly created wallets that earned approximately 663,000 dollars on Polymarket by correctly predicting a United States and Iran ceasefire shortly before it happened. The wallets had no prior transaction history and placed bets at low probability levels, raising suspicions about potential insider knowledge.

In a separate case, authorities in Israel charged a reservist from the Israel Defense Forces along with a civilian for allegedly using classified information to place bets on the platform. Prosecutors warned that such actions could pose risks to national security.

Regulatory scrutiny is also increasing worldwide. In Buenos Aires, a court ordered a nationwide ban on Polymarket in March, citing its operation as an unlicensed betting platform. Authorities also pointed to shortcomings in identity verification and payment controls, including the use of cryptocurrencies and credit cards without standard compliance procedures.#crypto#cryptonews https://coinsignals.net https://t.me/coinsignalpublic

Digital asset investment products recorded 1.4 billion dollars in inflows, marking the largest weekly total since January and extending a three week streak of positive momentum. According to CoinShares, the surge reflects growing investor confidence driven by improved risk appetite during ongoing discussions around a United States and Iran ceasefire, as well as Bitcoin climbing above 76,000 dollars midweek, its highest level since the February downturn.

Macroeconomic data also played a role. While March consumer price index came in at 3.3 percent year on year, markets paid closer attention to core inflation at 2.6 percent, suggesting that price pressures remain relatively contained and largely influenced by supply factors.

Bitcoin and Ethereum Lead Weekly Gains

CoinShares reported that Bitcoin attracted 1.116 billion dollars in inflows over the past week, bringing its year to date total to 3.1 billion dollars. The firm described the recent price movement as a significant technical shift after nearly two months of sideways trading. At the same time, products designed to profit from a decline in Bitcoin saw modest inflows of 1.4 million dollars, indicating limited but present demand for downside protection.

Ethereum also delivered a strong performance, drawing in 328 million dollars during the week, its best result since January. This pushed its yearly inflows to 197 million dollars.

Among alternative assets, Chainlink added 5.3 million dollars, while Sui gained 2.2 million dollars. Multi asset investment products recorded inflows of 2.6 million dollars.

In contrast, XRP and Solana experienced outflows, losing 56 million dollars and 2.3 million dollars respectively.

Regional Trends Show Strong US Dominance

The United States led global inflows with 1.5 billion dollars added over the week. Germany followed with 28 million dollars, while Canada and Sweden contributed 8.3 million dollars and 3.1 million dollars respectively. Hong Kong also recorded 3 million dollars in inflows.

Meanwhile, Switzerland stood out as an exception, registering 138 million dollars in outflows during the same period.

Market Uncertainty Persists Despite Inflows

Despite the strong inflow data, the market remains fragile. Over the weekend, shifting narratives around tensions involving Iran caused Bitcoin to briefly fall below 74,000 dollars before recovering slightly.

According to QCP Capital, markets are currently struggling to establish a clear direction, with price movements reacting more to news headlines than to underlying structural changes. Volatility remains relatively low, suggesting expectations of intermittent disruptions rather than sustained trends.

The firm added that markets are beginning to factor in the duration of geopolitical tensions rather than their intensity, pointing to a situation that may last longer than initially expected but remain contained within current limits.#crypto#cryptonews https://coinsignals.nethttps://t.me/coinsignalpublic