Gate Crypto Flash News and Market Updates

Polymarket’s single-day fee revenue surpassed $1 million on April 1, reaching $1.02 million, showing a clear increase. This change was driven by its adjustment to the fee mechanism and the addition of multiple market categories to broaden its chargeable scope.

The Yinchuan City Xingqing District People's Court concluded a virtual currency investment dispute case. The plaintiff, Mr. Wei, entrusted the defendant to invest, and later, after requesting repayment due to an urgent need for funds and failing to obtain it, brought a lawsuit for "unjust enrichment." The court held that the matter should be governed by a mandate contract relationship, and ultimately, through mediation, the plaintiff withdrew the lawsuit and Li returned the invested principal, and both parties reached a settlement.

Gate News message, Trader HXiRSK sold another 47,401 SOL ($3.98M) to cut losses after the Drift Protocol exploit. Seven months ago, this trader purchased 91,891 SOL ($16.04M) at $175. His total loss now exceeds $4M.

Gate News reports that on April 2, Anna, the founder of stablecoin infrastructure company Perena, issued a statement confirming that its three products—Perena USD, USD-J, and USD-P—were not affected by the Drift attack incident. However, the JLP vault managed by Neutral Trade, a platform sharing quantitative strategies within the Solana ecosystem, is running on Drift, which may pose certain risks or implications.

On April 2, Paul Grewal, the Chief Legal Officer of a certain CEX, said in an interview that the debate over stablecoin yield in the United States’ soon-to-be released “CLEAR Act” is nearing an agreement. He emphasized that although there are disagreements, all parties recognize that other elements of the bill are just as important, and he is optimistic about the bill’s prospects. Grewal opposed conflating the issue of stablecoin yield with challenges facing the banking industry. The CEX and its CEO previously opposed a proposal to limit stablecoin rewards, saying it would harm innovation and consumers’ interests.

Gate News reports that STO (STO Chain) has seen a significant price increase recently, up 223.71% within 24 hours, with a market cap of about $138 million. Changes in liquidity, making new all-time highs in price, and an increase in capital outflows indicate improved market sentiment. Investors are leaning toward long-term holdings, and you should watch for risks related to market volatility.

Gate News update: On April 2, crypto reporter Eleanor Terrett disclosed that the text of the U.S. stablecoin yield bill will not be released as scheduled later this week. The delay is due to concerns among the relevant parties that an early release of the bill text would give opponents an opportunity to delay the bill before it is considered in the Senate.

Gate News: According to the latest Gate TradFi data, XAGUSD (Silver) has dropped by 2% in a short period. Current volatility is significantly higher than recent averages, indicating increased market activity.

On April 2, the crypto market broadly fell, with the RWA and Layer 1 sectors down 1.71% and 1.66%, respectively. Bitcoin fell 0.75% to $68,000, while Ethereum inched up 0.15%. The GameFi sector performed better, rising 0.71%. Most other sectors trended downward.

Gate News update: On April 2, the Solana liquidity protocol Meteora issued a statement saying that all funds on Meteora are safe, and that all platform features and the treasury have not interacted with the Drift protocol.

Gate News update: On April 2, according to Gate market data, as of the time of writing, PIPPIN (pippin) is trading at $0.0603. Over the past 24 hours, it is up 20.56%, with a high of $0.0779 and a low of $0.0499. The 24-hour trading volume is $21.2392 million. Its current market cap is approximately $60.3162 million. Pippin is an SVG unicorn drawn using the latest LLM benchmark from ChatGPT 4o. Pippin was created by Yohei Nakajima, a widely recognized innovator and thought leader in the AI VC space. He is known for his public-building approach, and has been at the forefront of the "AI for VC" movement

Gate News message. April 2, according to Coinglass data, liquidations across the entire network over the past 24 hours totaled $375 million, including $204 million liquidated on long positions and $170 million liquidated on short positions. In detail, Bitcoin had $51.7929 million liquidated on long positions and $41.8973 million liquidated on short positions; Ethereum had $42.568 million liquidated on long positions and $47.1016 million liquidated on short positions.

On April 2, an account on the Polymarket platform placed a $160,000 bet that the Spurs would beat the Warriors. This account has made a profit of more than $1.7 million. The Spurs currently have a record of 57 wins and 18 losses and are ranked 2nd in the Western Conference.

Gate News message, according to Gate’s official announcement Gate has delisted the trading markets of 29 tokens, including POWERLOOM, ZAP, NVIR, PBX, MNRY, HAT, EARNM, VICE, FST, LBLOCK, ELIX, ELIZA, GET, VIA, SGC, SKAI, 1, GPT, DPET, EQ, EMPIRE, ELDE, CNNS, MYTH, HARD, TROY, MICHI, OVPP, and ROOST. After the platform re-evaluated these tokens again, they do not meet the standards for enabling trading. For users who have submitted forms and meet the requirements, Gate has credited the repurchase amount to their accounts. After delisting, users can still continue to use the Gate wallet to store assets. The specific delisting time and operational details for the related wallet functions will be notified separately.

Gate News reports that on April 2, Solana liquidity protocol Orca CEO Michael Hwang posted a tweet stating that Orca was not affected by the Drift attack incident and that users’ funds are safe. Michael Hwang pointed out that Orca’s smart contracts have passed four audits, ensuring their security and reliability.

From 2026-04-02 02:00 to 2026-04-02 02:15 (UTC), the BTC price fluctuated within the 66,858.6 - 67,355.0 USDT range. Over the 15 minutes, the return was -0.73%, and the amplitude reached 0.74%. During this period, market attention increased, short-term volatility intensified, and investors’ sentiment clearly shifted toward caution. The main driving force behind this abnormal move was that the key technical support level of $66,700 was broken, along with the RSI falling below 30, indicating that short-term momentum weakened rapidly and investors’ willingness to sell increased. Additionally, the market sentiment became more cautious, and trading volume showed signs of decline.

From 02:00 to 02:15 (UTC) on 2026-04-02, ETH experienced a significant decline. Over 15 minutes, the return was -1.01%. The price fluctuated between 2078.19 and 2100.1 USDT, with an amplitude of 1.04%. Short-term trading was active, market attention increased, and volatility intensified. The main driver behind this movement was that the sell-side order proportion on a certain trading platform's order book rose to 63%, while buy orders weakened significantly, directly triggering the price decline. At the same time, during this period, capital flowed out net, buy-side support was insufficient, and the concentrated selling pressure led to a sharp short-term decline in ETH.

Gate News, April 2, AT Global Markets chief market analyst Nick Twidale said that there is high expectation for clear information on when the conflict will end, but recent remarks have instead added even more uncertainty. Twidale noted that global markets today could see further downside. He said that the market originally expected an announcement of a ceasefire today, but while the parties involved claim the war will end soon, they also said that they will target Iran over the coming weeks. This message is bearish for the market, implying that the war may continue.

Gate News announcement, April 2, as Trump finished his nationwide address, Iran again fired a large number of missiles at Israel.

Gate News bot message, Gate market display: BTC falls below 67000 USDT, current price 66999.6 USDT.