Crypto Markets Hit Multi-Week Lows Amid Macro-economic and Regulatory Shifts
Crypto markets declined to multi-week lows this week as investor confidence softened and a broader risk-off sentiment took hold across global markets. According to Simon Peters, Crypto Analyst at eToro, rising oil prices have led to adjusted expectations for interest rate cuts this year.
“Bond yields have been climbing, with the benchmark 10-year US Treasury returning to levels last seen in July 2025, adding further pressure on risk assets, including crypto,” Peters noted.
Looking ahead, markets are closely watching upcoming US non-farm payrolls and unemployment data. Peters flagged that volatility may persist regardless of the outcome. A strong labour market could reinforce a hawkish Federal Reserve stance, while weaker data may heighten stagflation concerns. Both scenarios could potentially prompt further rotation out of risk assets.
Chiliz (CHZ) Rises on World Cup Momentum
Despite the broader market downturn, Chiliz (CHZ) recorded a gain this week, rising approximately 27%. The move is largely attributed to renewed speculation around fan token activity ahead of the FIFA World Cup.
Chiliz, the company behind Socios.com, operates a blockchain-based fan engagement and rewards platform. A recently introduced deflationary mechanism, where 10% of fan token sales revenue is used to buy back and burn CHZ, may continue to support price activity as the ecosystem develops.
Progress on US Stablecoin Frameworks
On the regulatory front, the proposed CLARITY Act reached a milestone this week with an agreement in principle regarding stablecoin yield provisions. The latest draft prohibits passive yield on stablecoin balances to limit direct competition with traditional bank deposits, while still allowing rewards tied to specific activities such as payments and trading.
The Senate Banking Committee is currently targeting the second half of April for markup. Following this, the bill would need to be reconciled with existing legislation before proceeding to a full vote. These developments, alongside the ongoing progression of the GENIUS Act, signal a more defined legislative direction for digital assets in the US.
Franklin Templeton Expands into Tokenised ETFs
Institutional adoption of blockchain technology continues to gain traction, with Franklin Templeton announcing a partnership with Ondo Finance to launch tokenised versions of its exchange-traded funds (ETFs). The initial rollout will include five ETFs covering US equities, gold, and fixed income.
These tokenised assets will be accessible via crypto wallets and tradeable around the clock across Europe, Asia-Pacific, the Middle East, and Latin America. Following the announcement, Ondo Finance’s native token (ONDO) climbed to a weekly high before retracing in line with broader market declines.
Disclaimer: This communication is for informational and educational purposes only and should not be considered investment advice or a personal recommendation. The analysis and research contained herein was produced by eToro. Cryptoassets are highly volatile and carry significant risk. Past performance is not an indication of future results.
