Daily Crypto News Digest: April 24, 2025
The cryptocurrency market is experiencing a positive trend today, with several notable developments across exchanges and trading platforms. Here’s your daily update on the significant happenings in the crypto world.
Cryptocurrency Market Overview
The global cryptocurrency market has shown a modest recovery today, with a 0.5% increase in total market capitalization, bringing it to approximately $3.06 trillion. Trading volumes in the past 24 hours amount to a substantial $104 billion.
Among the top 100 cryptocurrencies, three are currently in the red. Tokenize Xchange (TKX) is down by 3%, trading at $31.24, while TRON (TRX) and the XDC Network (XDC) have seen slight decreases of 0.7% and 0.5%, respectively.
The standout performer today is Sui (SUI), which has surged by 23.3% to reach $3.66. Stacks (STX) follows closely with a significant increase of 16.4%, currently valued at $0.8878. In the top 10 cryptocurrencies, only TRON is in the red; the others, including Dogecoin (DOGE) and Cardano (ADA), have posted gains ranging from 1% to 5.2%. Dogecoin has experienced the highest increase of 5.2%, now trading at $0.1821, followed by Cardano with a 4.6% increase to $0.7174. Bitcoin (BTC) and Ethereum (ETH) each recorded a 2% rise, now valued at $94,203 and $1,785, respectively.
Binance Introduces Fund Accounts
In today’s notable industry development, Binance has unveiled its new Fund Accounts feature. This innovative solution aims to facilitate efficient asset pooling for fund managers trading on the platform. Previously, fund managers were required to handle each investor’s assets in separate trading accounts.
Now, with this plug-and-play infrastructure, fund managers can consolidate investor funds into one or more omnibus Fund Accounts according to their preferred trading strategies. The product also introduces a universal net asset value (NAV) per unit, a standard commonly used in traditional finance that enhances transparency in profit-and-loss tracking for the funds traded.
Catherine Chen, Head of Binance VIP and Institutional, noted that the launch of Fund Accounts is a response to the increasing demand for scalable solutions that allow fund managers to adapt to the rapidly changing crypto landscape, enabling them to focus on strategic execution.
PancakeSwap Sees Record Trading Volume
PancakeSwap, the multi-chain decentralized exchange, has marked its highest trading volume since launch, achieving an impressive $205.3 billion in the first quarter of 2025. This represents a staggering 922% increase from $20.1 billion during the same quarter in 2023. The exchange also reported 5.83 million unique traders, marking a growth of 81% since Q1 2023, and a substantial rise in transaction numbers from 44.1 million to over 114.4 million in the same period. PancakeSwap has established itself as a leading DEX on various platforms, including BNB Chain, Base, Arbitrum, and Ethereum, reinforcing its position in the rapidly growing DeFi space. Notably, the team announced ongoing upgrades in PancakeSwap v3 and is set to launch PancakeSwap Infinity soon.
HTX Announces TRX Trading Carnival
Crypto exchange HTX has kicked off a ‘TRX Trading Carnival’ campaign running from April 24 until May 4. This event offers participants a chance to share in a prize pool of 150,000 USDT by trading Tron (TRX) and other selected cryptocurrencies.
First-time users signing up on HTX can receive 10 TRX as an airdrop, and an additional 10 TRX bonus for completing any amount of spot trading. Inactive traders who resume trading will also be eligible for a lucky draw with several top prizes on offer, including 800 USDT and 5,000 TRX, reflecting HTX’s initiative to drive user engagement following recent developments in the crypto market.
Stay Informed
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This overview captures the significant events within the crypto landscape, reflecting continued growth and innovation in various sectors. Whether through trading platforms, increased trading volumes or new product launches, the crypto market shows no signs of slowing down.
This article provides readers with a structured overview of the latest happenings in the cryptocurrency sector, relying on the provided summary while enhancing clarity and depth for improved comprehension.
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