Crypto Market Updates: April 24, 2025
In today’s crypto news, the market shows positive movement, Binance introduces new features for fund managers, PancakeSwap reports significant trading volume growth, and HTX launches an exciting promotional campaign. Here’s a closer look at what’s happening across the cryptocurrency landscape.
Green Light for the Crypto Market
The global cryptocurrency market is experiencing a bullish trend, with a 0.5% increase in global market capitalization, bringing it to approximately $3.06 trillion. In the last 24 hours, trading volumes reached $104 billion, signaling revitalized investor activity.
Among the top 100 cryptocurrencies, only three are trading in the red. Tokenize Xchange (TKX) has dropped by 3%, trading at $31.24, while TRON (TRX) and XDC Network (XDC) have seen minor declines of 0.7% and 0.5%, respectively.
On the upside, Sui (SUI) leads the pack, surging by an impressive 23.3% to reach a price of $3.66. Stacks (STX) also performed well, increasing by 16.4% to $0.8878. Within the top 10 cryptocurrencies, only TRON faced a decline, while the rest saw gains ranging from 1% to 5.2%. Notably, Dogecoin (DOGE) climbed 5.2%, trading at $0.1821, and Cardano (ADA) rose 4.6% to $0.7174. Bitcoin (BTC) and Ethereum (ETH) both increased by 2%, currently priced at $94,203 and $1,785, respectively.
Binance Introduces Fund Accounts
In a significant development, leading cryptocurrency exchange Binance has launched a new feature called Fund Accounts, which is touted as the first technological solution for fund managers in the digital asset space. This innovation aims to facilitate the pooling of investors’ assets, enhancing efficiency in trading operations.
Previously, fund managers on crypto exchanges had to maintain separate trading accounts for each investor. With the introduction of Fund Accounts, Binance offers a plug-and-play account infrastructure that allows flexibility and efficiency, similar to traditional finance accounts. This new solution enables fund managers to consolidate externally-raised investor funds into omnibus accounts based on specific trading strategies.
Additionally, the service introduces a universal net asset value (NAV) per unit, a concept widely used in traditional finance, making it easier for fund managers to track profits and losses. Catherine Chen, Head of Binance VIP and Institutional, emphasized the need for adaptable and scalable solutions in the evolving crypto landscape, stating that Fund Accounts will allow managers to focus more on strategy and effective capital deployment.
PancakeSwap Reports Record Trading Volumes
Multi-chain decentralized exchange PancakeSwap has announced that it has achieved a record-breaking trading volume of $205.3 billion for the first quarter of 2025, marking its most successful quarter to date. This impressive figure reflects a staggering 922% increase compared to $20.1 billion in Q1 2023. The exchange also reported that it attracted 5.83 million unique traders during this period, the highest number since Q4 2021. Moreover, transaction counts surged from 44.1 million in Q1 2023 to 114.4 million, representing growth of 159%. PancakeSwap has established itself as a leading DEX across major blockchain platforms, including BNB Chain, Base, Arbitrum, and Ethereum.
The team attributes this growth to an expanding user base and significant upgrades, with PancakeSwap v3 and the upcoming PancakeSwap Infinity anticipated to attract even more users.
HTX Launches TRX Trading Carnival
In another exciting announcement, cryptocurrency exchange HTX has kicked off a limited-time promotional event titled the "TRX Trading Carnival," which runs from April 24 to May 4. This campaign offers users and their referrals a chance to participate in events across spot and futures markets, with a total prize pool of 150,000 USDT.
The promotion coincides with a recent S-1 filing by Canary Capital to the U.S. Securities and Exchange Commission (SEC) for a proposed Canary Staked TRX. Participants can earn rewards for trading TRON (TRX) and other specified cryptocurrencies, including daily airdrops for new users and additional bonuses for spot trading.
The initiative aims to incentivize both new and existing traders, with opportunities for lucrative rewards and prizes throughout the promotional period.
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