Crypto climbs on easing inflation

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VanEck’s Avalanche ETF heads to Nasdaq amid altcoin volatility

Key points:

• Nasdaq has filed to list the VanEck Avalanche ETF, offering indirect AVAX exposure through a regulated product.

• VanEck joins Grayscale in pursuing AVAX-based ETFs, despite the token’s steep 2025 price correction.

News - Nasdaq has filed with the U.S. Securities and Exchange Commission (SEC) to list and trade shares of the VanEck Avalanche Trust, marking another step in expanding the lineup of spot crypto ETFs. The proposed Avalanche ETF, if approved, will give investors exposure to AVAX’s price without the need to directly hold or manage crypto assets.

Sponsored by VanEck Digital Assets, the trust will rely on a third-party custodian to safeguard the AVAX tokens, and operate under Nasdaq’s Rule 5711(d) for commodity-based trust shares. The filing comes just weeks after VanEck registered the Avalanche trust in Delaware on March 10, signaling fast-tracked ambitions for altcoin investment products.

ETF arms race expands beyond Bitcoin and Ether - VanEck’s Avalanche filing is its fourth standalone crypto ETF effort, following launches focused on Bitcoin, Ethereum, and Solana. The firm was also one of the first to file for a spot Solana ETF, further solidifying its altcoin-forward strategy.

Grayscale is in the race too—seeking to convert its AVAX trust, launched in August 2024, into a listed ETF on Nasdaq. The parallel filings underscore growing institutional appetite for regulated altcoin exposure, even as AVAX struggles in the current market.

AVAX was trading at $18 on April 10, down 56% from its $41 January high, highlighting the token’s steep decline amid broader crypto volatility. Still, firms like VanEck are betting on long-term investor demand for compliant, accessible vehicles for altcoin participation.

Bitcoin holds steady post-CPI, while altcoins bounce back

Key points:

• Bitcoin remained stable near $82K despite cooling U.S. inflation and Trump’s tariff pause.

• Altcoins like ETH, XRP, SOL, and DOGE surged up to 12% amid broader market optimism.

News - The U.S. Consumer Price Index (CPI) rose just 2.4% in March, beating expectations of 2.5% and marking a clear drop from February's 2.8%. The positive surprise reduced fears of further Federal Reserve rate hikes, with the CME FedWatch tool showing rate cut odds for May falling to just 15% from 57%. This dovish pivot follows President Trump’s 90-day pause on tariffs for most countries, excluding China, which also helped ease economic jitters.

Bitcoin's resilience, altcoins rebound - While Bitcoin's price hovered around $82,000—up about 7% on the day—its muted reaction stood in contrast to the dramatic bounce seen across major altcoins. Ethereum jumped 11% to hover around $1,600, while XRP spiked 12% to hit $2.04. Solana (SOL) and Dogecoin (DOGE) rallied 12.5% and 10.5% respectively, trimming recent losses and leading the altcoin recovery.

Smaller cap tokens like Fartcoin (up 28%), BONK, and WIF (both up 14%) also benefited from renewed market optimism, as did Ethereum-based memecoins SHIB and PEPE, each gaining over 10%. The broader crypto market capitalization rose 6%, while crypto stocks and U.S. equities posted their strongest rally since 2008.

What’s next? - Though cooling inflation and eased trade tensions have temporarily lifted sentiment, analysts caution that China’s potential retaliation and the Fed's next move remain key risks. If the optimism holds and diplomatic progress continues, Bitcoin and altcoins may have found a local bottom, with room for upside if macro headwinds soften further.

SEC greenlights ETH ETF options as bulls eye $1K surge

Key points:

• The U.S. SEC has approved options trading on Ethereum ETFs, including BlackRock’s ETHA.

• ETH surged over 13%, fueled by the approval, tariff relief, and bullish market sentiment.

News - The U.S. Securities and Exchange Commission (SEC) has officially approved options trading for spot Ethereum ETFs, starting with BlackRock’s iShares Ethereum Trust (ETHA). The long-anticipated greenlight also extends to products from Bitwise and Grayscale, expanding institutional access to Ethereum derivatives.

This move adds a new layer of liquidity to the ETH investment landscape, letting investors hedge and speculate using regulated contracts rather than spot holdings. Options trading had already been enabled for spot Bitcoin ETFs earlier, but Ethereum had been left waiting—until now.

Macro factors & market reaction - The timing couldn’t be better for Ethereum bulls. The approval coincides with a broader crypto rebound triggered by President Trump’s 90-day tariff pause on most trading partners, with ETH spiking over 13% to $1,675. Altcoins followed suit, with Solana and Dogecoin also notching double-digit gains.

Market optimism is growing amid analyst predictions that ETH could rally by $1,000 or more in May, driven by several catalysts: the Pectra upgrade, improving sentiment, and the potential approval of ETH-staking ETFs. Analysts also highlighted ETH’s undervaluation, citing that its market price recently dropped below its realized price for the first time since 2020—a rare occurrence that typically signals a major buying opportunity.

What’s next? - While options add depth to Ethereum’s financial instruments, traders are now closely watching for the SEC’s verdict on staking-enabled ETH ETFs. With on-chain metrics and sentiment indicators like the MVRV ratio turning favorable, Ethereum could finally be ready to reclaim its momentum.

Paul Atkins confirmed as SEC Chair: Crypto gets a green light

Key points:

• The U.S. Senate confirmed Paul Atkins as the new chair of the SEC in a 52-44 vote.

• Atkins is expected to formalize crypto-friendly reforms started under acting chair Mark Uyeda.

News - Paul Atkins, a longtime financial policymaker and former SEC commissioner, has been confirmed by the U.S. Senate as the new chair of the Securities and Exchange Commission. The 52-44 vote, mostly along party lines, positions him to replace Gary Gensler and continue the rapid regulatory shift in favor of digital assets.

Appointed by President Trump, Atkins is widely seen as a pro-crypto figure. His past consultancy work includes advising crypto firms, and he holds millions in crypto investments, including stakes in Anchorage Digital and Securitize. He’s now set to take the oath and assume full control of the agency.

What it means for crypto - Atkins inherits a transformed SEC. Under interim chair Mark Uyeda, the agency has already dismissed most of its high-profile crypto lawsuits and declared that memecoins, stablecoins, and mining operations fall outside its jurisdiction. These reforms coincide with Trump’s broader pro-crypto pivot, which also aligns with his family's interests in memecoins and stablecoin ventures via World Liberty Financial.

Atkins has pledged to establish “a firm regulatory foundation for digital assets” and is expected to cement these changes into lasting policy. However, he enters with a reduced team—only three out of five commissioner seats are filled, with no current move from the White House to nominate Democrats, breaking long-held bipartisan norms.

What’s next - With crypto legislation now a priority in Congress, Atkins may oversee landmark decisions shaping the future of crypto in the U.S. His confirmation signals a new era at the SEC—one that could favor innovation over enforcement, at least for now.

More stories from the crypto ecosystem

• Why is XRP ‘uniquely positioned’ to hit $5.5 by 2025, $12.5 in 2028?

• Bitcoin whale shifts 1,220 BTC off Kraken – Will this help price bounce?

• SHIB burn rate drops 82% in 7 days – What’s behind the memecoin slowdown?

• Uniswap – Should traders be concerned? Key levels for UNI’s price!

• Is Ethereum’s price bottom in sight? Key data points to…

Interesting facts

• In August 2021, The Chedi Andermatt in Switzerland became one of the first luxury hotels to accept Bitcoin and Ethereum for payments. Partnering with Bitcoin Suisse and Worldline, the hotel offered seamless crypto transactions while instantly converting them into Swiss francs to avoid volatility.

• Tokenized whiskey casks have gained popularity as real-world assets (RWAs). Investors can now buy fractional shares of aging barrels via blockchain platforms, with options to trade the tokens or redeem them for physical whiskey upon maturity—bringing liquidity to a traditionally illiquid market.

• In May 2021, Ethereum co-founder Vitalik Buterin donated over $1 billion worth of Shiba Inu (SHIB) tokens to India’s COVID-19 relief fund. The tokens had been sent to his wallet unrequested. This remains one of the largest acts of crypto philanthropy to date.

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Top 3 coins of the day

XRP (XRP)

Key points:

• At press time, XRP was trading at $2.00, reflecting a 2.31% decrease over the last 24 hours.

• Despite recent macro tailwinds, uncertainty around the SEC’s appeal has capped bullish momentum.

What you should know:

XRP’s price dipped below the midline of the Bollinger Bands, but managed to stay above the lower band, indicating heightened volatility without a full breakdown. The MACD maintained its bearish crossover, with the signal line above the MACD line and histogram bars still in red. However, the downward momentum appeared to be slowing.

Volume remained relatively strong after the recent spike—fueled by optimism surrounding a broader altcoin rally amid the U.S. tariff pause and that the SEC might drop its long-standing appeal against Ripple. While Ripple executives have hinted at a possible withdrawal, the SEC itself has yet to confirm this. In fact, in an April 8 filing concerning a third-party’s emergency request, the SEC stated the District Court lacked jurisdiction as the case remains pending in the Second Circuit—implying the appeal is still active. A crucial closed-door meeting at the SEC is also underway today, April 10, and could decide the appeal’s fate ahead of Ripple’s reply deadline on April 16.

On the price front, this legal and macro-driven bounce recently pushed XRP toward $2.05. If bullish sentiment returns and $2.00 holds as support, a move back to the Bollinger midline near $2.15 is likely. A breakout past that level could open the door to $2.30. Conversely, if XRP fails to hold above $2.00, it may revisit the $1.78–$1.80 zone. Traders should keep an eye on MACD convergence and the upper Bollinger Band for signals of a directional shift.

Solana (SOL)

Key points:

• At press time, SOL was trading at $115, reflecting a 2.82% drop over the last 24 hours.

• It struggled to break above the $120 resistance, even after posting a 12% rebound earlier this week.

What you should know: 

Solana rallied earlier this week as part of a broader altcoin bounce triggered by optimism around the U.S. tariff pause, pushing SOL close to the $120 mark. However, the move quickly lost steam at this resistance level, which coincides with the upper band of the Bollinger indicator.

At the time of writing, SOL was trading near the lower end of its recent range, having slipped below the Bollinger midline. The RSI hovered around 43, suggesting that momentum was still neutral-to-bearish, with no clear signs of recovery. Volume, meanwhile, remained relatively muted after peaking during the recent surge.

Unless SOL decisively reclaims the $120 level, upside potential may remain capped in the short term. A successful breakout above that level could open the door toward $130–$145, while continued rejection may send the token back toward its lower Bollinger Band support around $102.

Traders should watch for a pickup in volume and RSI crossing 50 as confirmation of bullish strength, while failure to hold above $110 could revive selling pressure.

Toncoin (TON)

Key points:

• At press time, TON was trading at $3.01, marking a 4.50% decline over the last 24 hours.

• The price continued its short-term downtrend despite the Zondacrypto listing announcement.

What you should know:

Toncoin extended its losing streak as the broader market failed to provide a sustained bounce, dragging TON below the $3.10 level. Even with a fresh listing on Zondacrypto announced for April 10, the token faced resistance in sustaining bullish momentum.

On the technical front, the Parabolic SAR dots continued to hover above the price, confirming the prevailing downtrend. Meanwhile, the Relative Strength Index (RSI) hovered around 40, indicating weak momentum but not yet fully oversold territory. Volume, too, remained subdued after a recent surge in early April, reflecting cautious interest from traders.

TON had earlier tested the $3.00 psychological level and momentarily rebounded, but its inability to cross $3.20 hinted at continued selling pressure. If bulls fail to defend the $3.00 support, the next key zone lies around $2.80. On the flip side, a breakout above $3.20 could pave the way toward reclaiming $3.50.

With the Zondacrypto listing offering a potential short-term catalyst, traders should watch for increased volume and RSI recovery above 45 as early signs of a reversal. Until then, caution is warranted as downside risks remain in play.