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Altcoin trade volume has returned to pre-FTX levels, but with a shrinking pool of market leaders
Quick Take The price of bitcoin dropped below $80,000 on Sunday as the cryptocurrency market experiences a significant dip amid macroeconomic uncertainty brought on by U.S. President Trump’s tariff announcements. The Block’s GMCI 30 index of the top 30 cryptocurrencies is down over 6% in the past 24 hours, as the crypto market dips ahead of international stock markets reopening on Monday. The ratio of BTC’s price compared to ETH has also fallen to a five-year low.
Quick Take Jameson Lopp warned that “address poisoning” attacks, where an attacker attempts to trick a user into sending cryptocurrency to the wrong wallet address, have begun targeting Bitcoin wallets. While Lopp’s data analysis found only one significant theft on Bitcoin, a similar attack on Ethereum resulted in one user losing $71 million to a hacker, although the funds were later recovered.
Quick Take This is an excerpt from the 25th edition of The Funding sent to our subscribers on April 6. The Funding is a fortnightly newsletter written by Yogita Khatri, The Block’s longest-serving editorial member. To subscribe to the free newsletter, click here.