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Crypto Market Slips Amid Fed Uncertainty and Trade Tensions

The cryptocurrency market remained volatile on Friday, as investor sentiment continued to dampen, following a week of tariff tensions and uncertainty surrounding the U.S. Federal Reserve’s next moves. Bitcoin (BTC) dropped 0.4% over the past 24 hours, trading at around $84,450, while Ethereum (ETH) remained similarly flat on the day, trading at $1,585. Meanwhile, XRP and SOL both decreased by a mild 1% and are currently trading at $2.06 and $133, respectively. The total cryptocurrency market capitalization fell by 1.7% on the day to $2.75 trillion, according to CoinGecko . Over the past 24 hours, leveraged liquidations reached $92.44 million, per data from CoinGlass . Bitcoin accounted for $15 million, followed by Ethereum with approximately $14 million. Altcoins made up around $12 million in liquidations. To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io CoinOtag

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Synthetix officially launches sUSD 420 Pool to tackle ongoing stablecoin issues

Synthetix has launched a new liquidity initiative aimed at stabilizing its algorithmic stablecoin sUSD, which has been trading well below its intended $1 peg. The “sUSD 420 Pool,” Announced by founder Kain Warwick on X , the pool will reward participants with 5 million SNX tokens over 12 months in an attempt to curb the effects of the ongoing depeg. sUSD dropped to $0.8224 as of April 18, up over 7% in 24 hours, according to CoinGecko. It was trading as low as $0.63. The decline has been linked to recent protocol changes under Synthetix Improvement Proposal 420, which introduced a protocol-owned staking pool and lowered the collateralization ratio for minting sUSD from 500% to 200%. ???? The sUSD 420 Pool is launching with rewards starting in 36 hours ???? SNX stakers in the 420 Pool can deposit sUSD to earn a share of 5m SNX over 12 months – or 13,698.6 SNX daily ???? [1/5] pic.twitter.com/Xy5QUPthK9 — Synthetix ⚔️ (@synthetix_io) April 18, 2025 This change has caused a significant increase in sUSD supply, outpacing demand and leading to imbalances in decentralized exchange pools like Curve, where sUSD now makes up over 90% of some liquidity pairs. You might also like: SHIB whales eye new viral crypto as 10,000% rally predictions surface Locked and staked SNX The new 420 Pool requires SNX stakers to lock their sUSD for a year to earn daily SNX rewards. Those rewards will also be locked and vest over three months after the campaign ends. While official front-end support for the program launches next week, early access is available via Synthetix’s Discord. Synthetix has called the current phase a “transition period” and plans to support sUSD through additional incentives and new use cases, including the upcoming Snaxchain initiative. You might also like: Solana price steady above key support as active addresses, fees jump CoinOtag