Ndax Weekly TL;DR April 21st

• Fed Chair Powell Reaffirms Need for Stablecoin Oversight
• Cardano Ecosystem Advances Real-World Asset Tokenization with Genius Yield Milestone
• Economists Urge Bank of Canada to Cut Rates Further as Housing Market Weakens

Federal Reserve Chair Jerome Powell emphasized the importance of establishing a regulatory framework for stablecoins, citing their growing relevance in the financial system. Speaking at an event in Chicago, Powell noted increased congressional interest in legislating stablecoin rules and called for consumer protection and transparency within such a framework. He also signaled a more accommodating stance toward banks engaging in crypto-related services, suggesting that regulatory guidance could evolve to support responsible innovation while maintaining financial stability. CryptoSlate

Cardano is deepening its presence in real-world asset (RWA) tokenization as Genius Yield approves a key milestone under its F12 Catalyst proposal. The update introduces foundational procedures for asset verification and auditing, aimed at ensuring authenticity and investor confidence. The next development phases include onboarding asset owners and enabling token issuance and rewards. This move aligns with Cardano's broader RWA initiatives. crypto.news

Canadian economists are calling on the Bank of Canada to implement deeper interest rate cuts to revive the country's slowing housing market, which saw national home sales fall for the fourth consecutive month in March. Amid economic uncertainty driven by U.S. trade policies and cautious buyers, average home prices dropped 3.7% year-over-year, with further declines expected. Analysts argue that current rates remain too high to support recovery, and continued disinflation in housing costs highlights the urgency for monetary easing to sustain broader economic growth. Financial Post

Ndax's news feature provides the latest news, stories, and trends to help you keep your hand on the pulse of crypto and blockchain.

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News Nuggets

• Ethereum’s Blob Capacity May Fall Short Amid Layer-2 Expansion, Report Warns CryptoSlate 
• Acting SEC Chair Proposes Regulatory Sandbox for Crypto Firms Offering Tokenized Securities crypto.news
• Vitalik Buterin Addresses Security Concerns Surrounding Ethereum’s EIP-7702 Upgrade crypto.news 
• Quantum Computing Could Reveal Whether Satoshi Nakamoto Is Still Alive Cointelegraph
• Solana dApps Generate More Revenue Than All Other Blockchain Ecosystems Combined crypto.news 
• Polygon and Jio Collaborate to Bring Scalable Web3 Solutions to 450 Million Users in India Cointelegraph 
• Arizona Moves Toward Crypto Treasury as Governor Threatens Veto Over Budget Impasse CryptoSlate 
• Michael Saylor’s Strategy Buys $285 Million in Bitcoin Amid Market Volatility Cointelegraph
• Oklahoma Ends Strategic Bitcoin Reserve Effort After Senate Vote Fails CryptoSlate

As of 04-21-2025 at 9:00 AM EDT
Market Summary

• Over the past seven days, the global cryptocurrency market capitalization has increased from CA$3.74 trillion to CA$3.78 trillion.
• Bitcoin's market dominance stands at 63.1%, while Ethereum's share is 7.2%.

Performance

• Over the past 24 hours, the price of BTC has fluctuated between CA$117K and CA$121K registering a 2% change over the past week and a market cap of CA$2.4 trillion. At Ndax, the weekly movers are FET, which saw a 24% increase in the last seven days reaching a market cap of CA$2.2 billion, and TAO, which experienced a 23% rise with a market cap of CA$3.7 billion. (At time of writing)

Visit our new markets page offering real-time data for almost 15,000 cryptocurrencies. Track trends, monitor your favorite cryptocurrencies, and stay ahead of the market. 
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Mark your calendars!

• Apr 24 – US Initial Jobless Claims Announcement  
• Apr 28 – FET Token Unlock 
• Apr 28 – CELO Token Unlock 

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The team at Ndax