- The COIN50 index rose by about 11.05% after the strong rise in Bitcoin and Ethereum, which boosted confidence among investors.
- US-based Bitcoin ETFs recorded about $1.7 billion in net inflows, the highest level since October 2025, which was supported by strong institutional demand.
- In April, memecoins became the best performing coins after the public sector rose about 15.60% after the rally that began in March.
Amid bullish sentiment in the cryptocurrency market after Bitcoin (BTC) regained its $81,000 mark this week, Coinbase released COIN50 index data for April, with the overall cryptocurrency market seeing a strong performance over the past month.
According to official data shared by Coinbase Institutional, the COIN50 index jumped by about 11.05% in the past month. One of the main reasons behind this rise is the easing of geopolitical tensions in the Middle East after the US and Iran returned to peace talks following a ceasefire in the biggest war of the decade.
The cryptocurrency market has seen upward momentum after the initial shocks earlier this year, when Bitcoin fell dramatically below $70,000. In April, the price of Bitcoin rose by about 16%, while the price of Ethereum rose by about 14%.
Bitcoin is driving correlation in altcoins, and Ethereum is following the lead
After the bear escaped at the beginning of this year, Bitcoin I entered April with about $67,000. By the end of April, the price of Bitcoin had risen by about $76,000. On the other hand, the second largest cryptocurrency, Ethereum, started the month at around $2,100 and ended at around $3,300.
After a difficult start to 2026, in April, the cryptocurrency sector saw strong institutional adoption. Last month, Bitcoin ETFs saw impressive steady inflows, with US-based Bitcoin ETFs recording around $1.7 billion in net inflows. These continuous inflows into the largest cryptocurrency have boosted investor confidence to some level and sparked bullish sentiment in the overall cryptocurrency market.
At the time of writing, the price of Bitcoin (BTC) is trading at a near level $81,505 With a gain of 16.58% in the last 30 days, according to CoinMarketCap.
Aside from this, US President Donald Trump declared a ceasefire in the violent war between the US and Iran, providing temporary relief from the global energy crisis. While the Strait of Hormuz remains closed to all commercial shipping, this ceasefire declaration has helped stop missile attacks on oil refineries in Middle Eastern countries.
Regarding this ceasefire news, the cryptocurrency market responded quickly and helped Bitcoin (BTC) rise above $70,000 in the first few days. According to the official tweet, the ceasefire announcement had been “Help promote risk movement across markets.
The Memecoin sector dominates the cryptocurrency sector with a strong rally in April
According to the Coinbase Institutional report, memecoins were the best-performing sector in April after maintaining the upward trajectory that began in March. In the Coinbase 50 Index, the memecoin category dominated after a 15.60% gain in one month.
According to CoinMarketCap, the cumulative market cap of memecoins is hovering around $39 after jumping about 31% in the last 30 days. Daily trading volume also increased by about 106%.
Dogecoin, the largest memecoin, has risen more than 20% in 30 days.
The DeFi sector took a huge hit from the Kelp DAO hack
While the cryptocurrency sector was following a recovery path, a very unfortunate event occurred, which shook the entire DeFi sector for a while. On April 18, Kelp DAO suffered its largest exploit of the year, losing around $292 million in rsETH after hackers exploited a vulnerability found in the cross-chain bridge with LayerZero.
This hack has sparked panic in the entire DeFi market. People started withdrawing their money from lending platforms. In a very short time, Aave saw withdrawals of around $6 billion. The total value locked in DeFi has dropped by more than $13 billion in just two days. After this hack, many protocols and L2s immediately stopped withdrawals to avoid “bad debt.”
In order to resolve this disastrous situation, Aave was launched immediately Davie United Program to take quick action and absorb losses.
Bittensor (TAO) fell after the departure of the largest subnet
Bittensor (TAO) turned out to be the worst performer for the month of April following the controversy surrounding the largest subnet operator. Last month, one of the largest subnets, Convenant AI, announced its exit from the project. She criticized the project for how it was managed, describing it as “theater of decentralization.”
“When a single actor can suspend a subnet’s emissions, override the owner’s authority over their own community spaces, publicly halt projects without remediation, and use token sales as a coercive mechanism to force compliance, that’s not decentralization. It’s centralized control with a decentralized brand,” it said in a statement. Official job From the Covenant Amnesty International.
The value of the cryptocurrency has dropped by more than 20% in a very short period of time, wiping out hundreds of millions in market cap.
Arbitrum and Algorand became big winners
Despite all the difficulties in the DeFi sector, Arbitrum and Algorand managed to become the biggest gainers in April after rising by about 37% and 27%, respectively.
““ARB, a leading Ethereum L2 coin, benefited from ETH’s strong momentum in April, and ALGO rose after Google’s Quantum AI paper cited it as a widespread real-world example of post-quantum cryptography,” Coinbase Institutional said.
Read also: Bitcoin surges above $81K as altcoins hint at a comeback
