The Blockchain Bulletin, Apr 15: Ethereum Eyes Recovery Amid DeFi Surge
Hey folks! Welcome to the latest edition of the Blockchain Bulletin, where we provide you with significant developments that took place over the last 24 hours. The collapse of MANTRA ($OM) has shaken the crypto landscape, garnering global attention. Before the plunge, 17 wallets deposited around 43.6 million $OM tokens (valued at $227 million) to centralized exchanges, representing 4.5% of the asset’s circulating supply, according to Arkham Intelligence.
Two of these wallets were linked to Laser Digital, a known strategic player, sparking speculation of insider orchestration. Notably, one wallet moved 6.5 million $OM worth $41.66 million to another, which later offloaded the tokens on OKX. Transfers of $400,000 to $1.2 million in value were traced back to days just before the liquidation began, raising eyebrows across the market.
Further, adding to the drama, a high-profile whale chose to part ways with a coveted CryptoPunk NFT, selling it for 4,000 ETH—roughly $6.06 million. This wasn’t just any sale; it marked one of the largest NFT transactions in recent months, yet also one of the costliest losses. The NFT was originally acquired for 4,500 ETH in 2023 when ETH was priced at $3,509, translating to a near $9.73 million realized loss. The transaction underlined the ongoing decline of NFTs and the weight of Ethereum’s 57% price drop.
Ethereum, however, may be staging a quiet recovery. After weeks of downward pressure, ETH reclaimed the $1,574 support level, posting a 13.4% gain over the past week. Analysts now point to $1,810 as the next resistance if momentum holds, with $1,574 acting as a crucial demand zone that once marked resistance. Moreover, Ethereum achieved a record $1.18 trillion in stablecoin transactions over the last month, solidifying its role as the epicenter of DeFi activity and Layer-2 integrations, per on-chain data.
Related: Nine Sentenced for Defrauding Indians of $6 Million in USDT
Continuing its Bitcoin acquisition, Metaplanet—dubbed “Japan’s MicroStrategy”—added 319 BTC to its corporate treasury, acquiring them for 3.78 billion yen at 11.8 million yen per Bitcoin. The latest addition brings the total holdings to 4,525 BTC, worth approximately 58.1 billion yen. The group’s average acquisition cost was 12.8 million yen per BTC, which indicates that it has been quietly but methodically building its exposure during volatile periods.
Apart from this, a Bitcoin trading platform, ODIN.FUN suspended all trading operations and withdrawals following a security breach on developer Bob Bodily’s account. However, Bodily assured users that only his profile was compromised in the hack, whereas his Bitcoin wallet was safe. Following investigations, the platform halted operations to prevent any possible spread of the breach.
KernelDAO (KERNEL) was officially launched under its Megadrop program, bringing excitement to Binance. The DeFi protocol is focused on modular restaking across Ethereum and the BNB Chain, meaning users have a smooth staking experience. Trading went live from April 14, with the project aimed at improving liquidity by connecting staked tokens with numerous Web3 services.
Related: Avalon Labs, Bybit Launch Fixed-Rate Bitcoin Lending
On the market side, XRP has endured over $300 million in outflows this April, logging just four positive net flow days out of 13. According to CoinGlass data, buyers have yet to regain control, and selling pressure remains elevated despite occasional rallies.
Dogecoin, on the other hand, edged closer to its $0.17 resistance level, with analysts from Ali Charts projecting a possible breakout to $0.21 and $0.29—though only if it sustains support above $0.13. A drop below this level could invalidate the bullish scenario and restore downward momentum.
Cardano is now trapped in a downward channel that has its critical support at the level of $0.63. Predictions made by analyst Ali Martinez regarding the price movement went on in such a way that a break under this support would bring the price down to about $0.54. The asset continues to form lower lows, confirming persistent bearish pressure amid tightening technical patterns.
In a month marked by stealthy sell-offs, institutional plays, and court convictions, the blockchain space once again proved that under the volatility lies a tapestry of shifting strategies and silent signals—visible only to those who know where to look.
