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Welcome to this week’s Web3 Digest, where the Magnet Team highlights the key developments shaping crypto and beyond. From Bitcoin overtaking tech giants to fresh momentum around Ethereum upgrades and growing institutional interest, the week showed that Web3 continues to evolve — even amid global uncertainty.
Tariffs remain the leading story in the market. While a resolution with China could take years, a 90-day exemption for most U.S. trade partners — announced on April 9 — offers a temporary reprieve, with the final exemption date set for July 8, 2025.
Meanwhile, Trump's comments on tariffs and his apparent reconciliation with Powell boosted both U.S. stock markets and the broader crypto market. Bitcoin surged more than 10%, moving more in sync with equities than gold — a reminder that Bitcoin's identity as a "risk-on" or "risk-off" asset remains unresolved.
This week, Vitalik Buterin proposed a major long-term change: replacing the Ethereum Virtual Machine (EVM) with RISC-V. The goal? To achieve over 100x efficiency improvements while preserving core Ethereum features like accounts, storage, and smart contract interoperability.
Though the idea is still at an early stage and may take years to implement, it reignites important conversations about Ethereum’s scaling future.
April 20 marked one year since Bitcoin’s fourth halving. Unlike previous cycles that saw explosive growth, Bitcoin’s post-halving performance this time has been relatively muted, with approximately 50% growth since the event.
Key factors:
- Record-high miner competition.
- Increased macroeconomic uncertainty.
- Analysts believe last year's rally may have "absorbed" much of the post-halving upside.
Bitcoin’s long-term fundamentals remain strong, but its price movements are now more tied to global economic forces, signaling the asset’s growing maturity.
President Trump’s token triggered major buzz with a bold offer: top 220 $TRUMP holders would be invited to a private dinner with Trump at his golf club in D.C., with special perks for the top 25. The announcement sparked controversy over ethical concerns but also fueled a sharp 70% rally in the token’s price — followed by significant sell-offs from large holders. Ethics experts and lawmakers raised concerns, suggesting that offering access to a political figure based on crypto holdings could amount to a “pay-to-play” scheme, raising serious questions about potential conflicts of interest.
On April 23, Bitcoin officially became the world’s fifth most valuable asset, surpassing Amazon and Alphabet. But why now — and not during its all-time high earlier this year? While Bitcoin remained resilient, traditional tech giants faced valuation declines due to ongoing market volatility and slowing growth, positioning Bitcoin as an increasingly attractive alternative store of value. This shift reflects a deeper evolution: Bitcoin is no longer viewed purely as a speculative asset — it’s becoming a core part of diversified, institutional portfolios.
Adding to this momentum, Michael Saylor’s Strategy recently acquired an additional 6,556 BTC, bringing their total holdings to 538,200 BTC, valued at over $47 billion.
Stay tuned for next week’s Web3 Digest! ! The landscape is always shifting, and we’re here to keep you in the loop. Stay ahead of the curve and be prepared for what’s next in the world of Web3.
