Polymarket surges up fee generation charts with $7M day, Tether maintains lead
According to data available on DeFiLlama’s fees page, which tracks fees across various DeFi protocols, there was a huge spike in fees on the Polymarket platform.
The surge in fee generation could be attributed to a rise in user activity or transaction volume on the platform. Historically, the Polymarket prediction market platform records increased engagement during high-profile events, such as elections, major sports outcomes, or significant global developments, as punters scramble to place bets or speculate on outcomes.
On a monthly scale, the DefiLlama data shows that April has been Polymarket’s most profitable month in terms of fees. This is just the fifth day in the month, but the platform appears to have already amassed more than half of its all-time fees.
It sounds ridiculous, but it’s true. The data appears even more interesting on the weekly and daily fee charts. The weekly data shows that there was only average activity on the platform between January and March, but that changed in April, which is still in its first week at the time of this publication.
The daily fee data revealed even more. It showed that Polymarket fees did not really spike until April 3, when it recorded $7.33M. It has since maintained a value above $7M on a daily basis, reinforcing the platform’s recent spike.
Polymaket may be one of the rare winners of the “Liberation Day” tariff announcements by Donald Trump on April 2, 2025. The announcement saw him unveil a sweeping tariff plan targeting goods from nearly all countries, and it sent shockwaves through the traditional financial markets.
The Dow reflected this, reportedly dropping 3,700 points between April 2 and 3, while Polymarket’s recession odds jumped from 51% to 60% by April 4.
This reflects a frenzy of activity from punters who scrambled to wager on the economic outcomes directly tied to the tariff news. Public sentiments on X from April 3 align with this, showing Polymarket’s recession odds rose from 33% to 47% and inflation bets above 4% jumped from 17% to 48% within 48 hours, alongside a $2 trillion wipeout in US stock market value.
The spike in activity and fees aligns with Polymarket’s historical pattern of fee spikes during high-stakes events—like the 2024 US presidential election, which saw election bets push fees to notable heights.
The tariff announcement is expected to drive economic chaos with traders flooding markets like “US recession in 2025?” or “Will the NYSE hit a circuit-breaker?”—both of which saw sharp probability shifts on Polymarket.
An increased amount of trades equates to more USDC flowing into the platform, pumping the fee totals tracked by DeFiLlama, even if Polymarket has stated that it doesn’t pocket them directly.
Another rationale for the spike is a change in Polymarket’s operations—for example, a change in its fee structure. However, the platform claims it has not changed its fee structure in a significant way that introduces trading, deposit, or withdrawal fees as a primary revenue model.
Polymarket has always operated with a no-fee model. Its official documentation and statements from CEO Shayne Coplan highlight the platform’s focus on growth over monetization, so while it may charge fees in the future, there is no timeline of when they may be implemented yet.
The platform has, in the past, generated revenue indirectly through spreads on trading and liquidity provision rather than directly imposing fees on users.
Even though Polymarket saw a huge spike in income, according to DefiLlama, it still falls behind Tether with its cumulative revenue. Tether’s rival, Circle took the final top-three spot in terms of cumulative fees and revenue.
Tether (USDT) and Circle (USDC) are stablecoin issuers whose incomes are linked mainly to the interest earned on the reserves backing their stablecoins, even though some additional revenue comes from redemption or issuance fees.
Both companies operate identical business models, and their primary revenue comes from investing their reserves in interest-bearing instruments, such as US Treasury bills, which have yielded 3.5%-5% annually in recent years thanks to elevated interest rates.
Nevertheless, data shows that Tether makes more profit than Circle, with recent estimates suggesting the USDT issuer earned over $18 million in revenue in the last 24 hours, while Circle reported $6.35 million. This is even though USDT’s circulating supply is only about 2.3 times greater than USDC’s. In fact, on a per-unit basis, Tether reportedly generates roughly 20 times more profit per stablecoin than Circle.
Another reason for this huge difference could be Tether’s affinity for taking on riskier or higher-yield investments. Meanwhile, Circle, regulated as it is, has said its reserves are held in safe assets like Treasuries and cash, which yield a predictable but modest return.
Tether is less transparent about its reserves only listing “secured loans” and other non-transparent assets which suggests it could be chasing higher returns not minding the added risk.
There is also the fact that Circle is at a structural disadvantage because of its inability to keep more of its revenue in-house. This is because of its deal with Coinbase, which gives it a cut of USDC’s economics, diluting Circle’s per-unit profit.
Tether has no such major partner and retains full control over its issuance and redemption process, which allows it to keep more of its revenue in-house. It also charges a 0.1% redemption fee for converting USDT back to fiat, providing a small but steady revenue stream, especially with high-volume users.
Circle, on the other hand, offers users fee-free redemptions, leading to what has been tagged “vampire attacks,” an arbitrage process where users swap USDT for USDC to cash out cheaper.
Overall, Tether has more market dominance than Circle, which allows its reserves to grow faster, thereby compounding interest earnings.
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Vivek Ramaswamy points to Bitcoin as a hedge to present economic turmoil
The American businessman turned politician believes Bitcoin is a hedge against the current economic downturn, which has seen the benchmark index for stocks, the S&P 500, drop by over 13% since the year started. Ramaswamy gave his sentiments on the crypto in a reply to a late Friday X post by Tether CEO Paolo Ardoino.
“This is becoming increasingly clear,” wrote the Ohio Gubernatorial seat aspirant.
Although an investor could argue that Gold currently has better returns, as the crypto market is also in a bloodbath, BTC holds more value in a long-term comparison.
If an investor had allocated $1,000 equally into Bitcoin, gold, and the S&P 500 five years ago, the latter would have doubled the initial investment to approximately $2,040. Gold could have yielded a slightly below 90% return, but Bitcoin has gone up 11 times in value since, bringing the same $1,000 investment to $12,210.
A two-day post-Liberation Day market rout erased $6.6 trillion in shareholder value from the US stock market, according to Dow Jones data. Thursday and Friday marked the worst two-day loss in US equity market history, with $3.25 trillion of that value vanishing on Friday alone. At the same time, as reported by multiple sources, the crypto market absorbed $5.4 billion in new capital.
The selloff came as a result of new tariffs announced by US President Donald Trump, which rattled investors and raised fears of economic isolation. The S&P 500 fell by nearly 6% over the two-day stretch, surpassing early-term losses seen under former President George W. Bush, whose first office days had a low-point market performance.
The Dow Jones Industrial Average dropped 11.9% since Inauguration Day, while the S&P 500 has declined 15.4% in the same period, according to data through Friday’s close. The Russell 2000 index, focused on small-cap stocks, experienced its most turbulent start to a new administration on record, falling more than 25% from its November high and entering bear market territory.
The Nasdaq Composite, which closed at an all-time high of 20,056.25 in February, has since plunged more than 22%.
On the flip side, the BTC/SPX ratio, an indicator comparing Bitcoin’s performance to the S&P 500, recently completed an inverse head-and-shoulders pattern, typically a bullish signal in asset comparison charts.
The pattern, seen in the chart above, has broken above a neckline at the 15 mark. After a standard pullback to retest the breakout point, the ratio rebounded and could lead to a renewed upward momentum for Bitcoin. It also corresponds with Bitcoin’s 2021 peak relative to the S&P 500, a zone that traders now view as the crypto’s support level.
Adding to the bullish signal, the monthly chart displayed a green candle following the rebound, an indication that Bitcoin bulls have successfully defended this critical zone. Analysts noted that the demand range between 13 and 15 on the BTC/SPX ratio, marked by multiple support lines, has become a battleground now tilting in Bitcoin’s favor.
“It seems like it has found a support/range, now that it has somewhat serious hodlers backing and interest like the Institutions and U.S govt SBR,” One market analyst on X commented . They backed the claim for two more reasons: Bitcoin faces no earnings compression and cannot be targeted by international tariffs.
According to market data trackers, Bitcoin is consolidating well above $80,000, as tech stocks like Apple and Meta both shed over 2% of their valuations on Friday’s market close. Overall, BTC had the least negative price movement compared to all the Magnificent 7 tech stocks, closely followed by Microsoft.
At the time of this publication, it was trading around $83,000, seeking a route past $85,000 that, if breached, could push the coin towards its 30-day high of values above $90,000.
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Here’s What Can Trigger XRP’s Next 30% Surge: Analyst
TL;DR
The renowned crypto analyst Ali Martinez has outlined multiple times the importance of the $2 support for XRP’s future price movements. The asset tested it on a couple of occasions in the past month, dipping below it twice since March 11.
However, it ultimately withstood the pressure and helped XRP remain among the top performers since the US elections in early November. Moreover, Ripple’s token bounced off quite impressively after the March 11 crash and shot up to $2.6 within the next week.
That price surge transpired after Brad Garlinghouse, the company’s CEO, announced that the lawsuit against the SEC had effectively ended.
Since then, though, XPR has failed to recapture its momentum and slipped below $2 earlier this week, charting a 24% decline amid the escalating Trade War.
As mentioned above, the $2 support remained strong, and XRP now trades at $2.15. Martinez believes holding that level could serve as a propeller for the next leg up, which could push its price north by 30%.
However, he also highlighted a bearish scenario in which $2 is broken to the downside. In this case, the fourth-largest cryptocurrency by market cap risks dropping all the way down to $1.3 as there’s not much support between these two levels given XRP’s explosive surge in November and December last year.
Nevertheless, Martinez is overall predominantly bullish on XRP, as the TD Sequential also recently flashed a buy signal on the daily chart.
PEPE Price Poised for a Massive Rally?
As the meme coin madness continues to grip the crypto market in 2025, PEPE price finds itself quietly preparing for what could be its next breakout moment. After months of consolidation and relentless selling pressure, subtle signals are flashing across both the daily and hourly charts. Is PEPE price about to springboard toward a new local high, or will this momentum be short-lived? Let’s dive into the technicals.
PEPE’s daily chart is finally showing some life after a prolonged downtrend. Currently priced around $0.000000726, the price has gained over 4% in the last 24 hours. This modest rally is taking place just as the asset hovers slightly below the 50-day SMA (Simple Moving Average) — a level that often acts as dynamic resistance. What's interesting is the price compression between the 20-day and 50-day SMAs, indicating a possible breakout setup.
However, the 100-day and 200-day SMAs remain far above, at $0.000001153 and $0.000001309 respectively, reminding traders of the significant overhead resistance. This confirms that PEPE is still in a broader bearish structure but is showing short-term bullish intent.
A key signal to watch is the Accumulation/Distribution Line (ADL), which has slightly ticked down despite the price rise. This divergence suggests that while retail interest may be increasing, large players or institutions are not yet accumulating in bulk. If the ADL starts trending upward along with price, this would be a strong bullish confirmation.
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Zooming into the hourly chart, PEPE has been gradually climbing back from a local low of around $0.00000064, reclaiming short-term moving averages along the way. Currently, the price is facing resistance from the 200-hour SMA, sitting right at $0.000000733. This level has proven difficult to breach, as seen by the multiple candle wicks testing but failing to close above it.
The PEPE price is comfortably above the 20-, 50-, and 100-hour SMAs , suggesting that bulls are gaining control in the short term. The structure is beginning to resemble a bullish flag breakout, with volume picking up slightly in recent sessions.
What’s also notable is the behavior of the ADL on the hourly chart, which has been relatively flat around 1399. This confirms the narrative that although price is pushing upward, there isn’t yet strong backing from volume or large wallets—again pointing to a cautiously bullish but not yet explosive scenario.
From a pattern standpoint, PEPE is trying to break out of a descending channel that started forming back in early February. If bulls can hold the current zone and push decisively past the $0.00000077 resistance, then the next likely targets are $0.00000090 and eventually $0.00000115 — which aligns with the 100-day SMA.
However, failure to break and hold above the 200-hour SMA in the short term could send PEPE price back into the $0.00000068 to $0.00000070 range, where it’s seen strong support over the past week.
Momentum remains tentative, and the real confirmation will come only when PEPE breaks above the SMA cluster between 50-day and 100-day with strong volume. For now, traders should watch for a clean breakout above $0.00000074, ideally supported by a rising ADL and increased Heikin Ashi candle body size, which would confirm sustained buying pressure.
PEPE’s price structure is showing signs of short-term bullish revival , especially on the hourly chart. However, the daily chart suggests caution — larger trendlines are still unbroken, and volume hasn't fully returned. If momentum persists and is backed by strong inflows, PEPE could challenge its next local resistance at $0.00000090 in the coming days.
But until we see confirmation via breakout volume and institutional accumulation (reflected in the ADL), the rally remains speculative. For now, PEPE is poised — but not yet committed — to a massive rally.
As the meme coin madness continues to grip the crypto market in 2025, PEPE price finds itself quietly preparing for what could be its next breakout moment. After months of consolidation and relentless selling pressure, subtle signals are flashing across both the daily and hourly charts. Is PEPE price about to springboard toward a new local high, or will this momentum be short-lived? Let’s dive into the technicals.
PEPE’s daily chart is finally showing some life after a prolonged downtrend. Currently priced around $0.000000726, the price has gained over 4% in the last 24 hours. This modest rally is taking place just as the asset hovers slightly below the 50-day SMA (Simple Moving Average) — a level that often acts as dynamic resistance. What's interesting is the price compression between the 20-day and 50-day SMAs, indicating a possible breakout setup.
However, the 100-day and 200-day SMAs remain far above, at $0.000001153 and $0.000001309 respectively, reminding traders of the significant overhead resistance. This confirms that PEPE is still in a broader bearish structure but is showing short-term bullish intent.
A key signal to watch is the Accumulation/Distribution Line (ADL), which has slightly ticked down despite the price rise. This divergence suggests that while retail interest may be increasing, large players or institutions are not yet accumulating in bulk. If the ADL starts trending upward along with price, this would be a strong bullish confirmation.
--> Wanna trade PEPE? Now is the perfect time, especially that the market is consolidating before a volatile period. Click here to open an account with Bitget using our link and benefit from 100% transaction fee rebates in BGB on your first transaction <--
Zooming into the hourly chart, PEPE has been gradually climbing back from a local low of around $0.00000064, reclaiming short-term moving averages along the way. Currently, the price is facing resistance from the 200-hour SMA, sitting right at $0.000000733. This level has proven difficult to breach, as seen by the multiple candle wicks testing but failing to close above it.
The PEPE price is comfortably above the 20-, 50-, and 100-hour SMAs , suggesting that bulls are gaining control in the short term. The structure is beginning to resemble a bullish flag breakout, with volume picking up slightly in recent sessions.
What’s also notable is the behavior of the ADL on the hourly chart, which has been relatively flat around 1399. This confirms the narrative that although price is pushing upward, there isn’t yet strong backing from volume or large wallets—again pointing to a cautiously bullish but not yet explosive scenario.
From a pattern standpoint, PEPE is trying to break out of a descending channel that started forming back in early February. If bulls can hold the current zone and push decisively past the $0.00000077 resistance, then the next likely targets are $0.00000090 and eventually $0.00000115 — which aligns with the 100-day SMA.
However, failure to break and hold above the 200-hour SMA in the short term could send PEPE price back into the $0.00000068 to $0.00000070 range, where it’s seen strong support over the past week.
Momentum remains tentative, and the real confirmation will come only when PEPE breaks above the SMA cluster between 50-day and 100-day with strong volume. For now, traders should watch for a clean breakout above $0.00000074, ideally supported by a rising ADL and increased Heikin Ashi candle body size, which would confirm sustained buying pressure.
PEPE’s price structure is showing signs of short-term bullish revival , especially on the hourly chart. However, the daily chart suggests caution — larger trendlines are still unbroken, and volume hasn't fully returned. If momentum persists and is backed by strong inflows, PEPE could challenge its next local resistance at $0.00000090 in the coming days.
But until we see confirmation via breakout volume and institutional accumulation (reflected in the ADL), the rally remains speculative. For now, PEPE is poised — but not yet committed — to a massive rally.
North Korea’s latest crypto hack reveals Web3’s security weakness: pro
Oak Security’s Jan Philipp Fritsche says Web3 needs to stop ignoring basic OPSEC hygiene, especially as state-sponsored threats rise.
As North Korea’s “ClickFake” campaign draws renewed attention to cyberattacks on crypto firms, security experts say Web3’s biggest vulnerability isn’t smart contracts — it’s people.
Jan Philipp Fritsche, Managing Director at Oak Security, argued in a note to crypto.news that most blockchain projects lack even the most basic operational security standards .
Fritsche, a former European Central Bank analyst who now advises and audits protocols says the real risk lies in how teams manage devices, permissions, and production access.
“The ClickFake campaign shows just how easily teams can be compromised,” Fritsche said in a note. “Web3 projects have to assume that most of your employees are exposed to cyber threats outside their work environment.”
For background, North Korea’s Lazarus Group is using a cyber campaign called “ClickFake Interview” targeting cryptocurrency professionals. The group posed as recruiters on LinkedIn and X, luring victims into fake interviews to distribute malware.
The malware, named “ClickFix,” gave attackers remote access to steal sensitive data like crypto wallet credentials. Researchers said Lazarus used realistic documents and full interview conversations to enhance credibility.
Most DAOs and early-stage teams still rely on personal devices — often used for both development and Discord chatting — which leaves them exposed to nation-state level attackers. Unlike traditional enterprises, many DAOs have no way to enforce security standards.
“There’s no way to enforce security hygiene,” Fritsche said. “Too many teams, especially smaller ones, ignore this and hope for the best.”
Fritsche says even the assumption that a device is clean may be flawed. For high-value projects, that means developers should never have the ability to push changes to production unilaterally.
“Company-issued devices with limited privileges are a good start,” Fritsche said. “But you also need fail-safes—no single user should have that kind of control.”
The lesson from traditional finance? Every risk is assumed to be real until proven otherwise.
“In TradFi, you need a keycard just to check your inbox,” Fritsche said. “That standard exists for a reason. Web3 needs to catch up.”