Daily Alpha and Summary. April 4, 2025

DeFi

ETH Pectra upgrade to launch mainnet on May 7, 2025. On April 21, Client releases will be made available to ensure necessary updates/tools for mainnet launch

ETH researcher Tim Beiko proposed restructuring the AllCoreDevs governance process to better manage complex upgrade coordination. Key changes include: Clear division of responsibilities, Optimized stakeholder participation, Prioritization of upgrades by importance and a long-term roadmap with flexibility for adjusting R&D goals

Cardano foundation launched Veridian, a quantum resistant digital identity platform that uses open source tools to verify identities online

0x Dex aggregator Matcha expands to Solana with cross chain support and plans to help users avoid memecoin rugs

Debridge is live on Hybrid L2 (BTC security, EVM contract) Build on Bitcoin (BOB), to help with Defi interoperability

Launchpad Coinlist is re-entering the US market for the first time since 2019 and is hosting token sale for DoubleZero Foundation with U.S. accredited investors able to participate

Babylon to airdrop 600M BABY tokens by allocating 6% of supply to stakers and GitHub contributors

State of the Market

Coinbase Derivatives filed with the CFTC to launch XRP and Nano futures on April 21

Onchain data from Arkham shows major BTC ETFs with $220M in net inflows

Tether bought 8,888 BTC ($735M) in Q1 2025, bringing total to $7.8B