On April 11, Grayscale included VIRTUAL in its consideration list. On the same day, Virtuals Protocol announced a $1M/month incentive program.
This is not just ordinary "good news".
Grayscale's logic for inclusion is simple: VIRTUAL has already become the infrastructure layer of the AI Agent economy—tokenized assets, automated market making, and on-chain identity verification, three functions solved by one protocol.
In January, the TVL of Virtuals was less than $50M, but it has now exceeded $400M.
Infrastructure projects fear not competition, but "no one using it". The $1M/month reward program is about buying time—locking in developers before competing protocols take shape.
Don't miss out on Virtuals this round, just like Ethereum missed the A16Z era.
NEAR officially launched on the Solana mainnet today, achieving cross-chain interoperability through NEAR Intents and Orb Markets. This is not just "another chain"—it addresses the core issues that NEAR has long been questioned about: ecological isolation, TVL ceiling, and holders only holding without migrating.
The data is more convincing: NEAR's daily active users have surpassed 3 million, surpassing Solana to become the second-largest L1 chain. The real value of Solana's linkage lies in: Solana's TVL and dApp active users can be directly utilized by NEAR, while NEAR's sharding advantage finally has a high liquidity outlet.
The logic of the first round of bullishness is being reconstructed. After cross-chain, NEAR's TVL ceiling has opened up a new magnitude, and the analyst's target price of $10.82 indicates a potential space of 315% from the current price. AI Agent narrative + cross-chain infrastructure + user data endorsement, these three lines align for the first time simultaneously.
Of course, the real security of code bridging still needs time to verify. But for crypto-native funds, this has already constituted a structural change worth paying attention to.
Iran has started using BTC for tolls - sovereign nations are using crypto as a tool. How much longer will the bear market last, I don't know. But the long-term logic of BTC is clearer than ever.
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But BTC slightly rose by +1% today, not following the panic sentiment downward.
Historically, every time F&G falls into the 10–20 range and BTC refuses to decline sharply, it is often a strong signal of a phase bottom. Capital quietly enters when others are fearful.
🔻 Core Logic: • Panic Index New Low ≠ Price New Low • Price Resilience During Extreme Fear is the Fingerprint of Smart Money Entering • Emotional Bottom Leads Price Bottom by 3–7 Days
Do not sell in the crossfire, and do not chase shorts in panic.
F&G drops to 15, the market falls into extreme panic — but BTC average price $72,925, only slightly up +1.6% in 24h.
This is a classic bottom divergence structure: sentiment at a freezing point, price refuses to continue to decline. F&G has historically formed local bottoms multiple times in the 15-20 range, followed by a corrective rebound.
Extreme panic ≠ continued plummet, it often means that selling pressure is nearly exhausted. Signals are hidden in the divergence, worth noting.
Saylor recently said a line that has been overlooked:
"Bitcoin has won. Global consensus is that $BTC is digital capital."
This statement is now meaningful.
F\u0026G=15, extreme fear, but BTC refuses to continue falling. Funding rate -1bp, shorts slightly dominant but unable to push down. The market is telling you with its price: this is not the end.
"Bitcoin has won" is not a price prediction, but a path confirmation. The path is already clear, what's left is just a matter of rhythm.
The real question is not whether BTC will win, but at what position are you ready to get on board.
📈 Contract Closing Reference: BTC | Long 42% | OI $7.0B | Trades 10.5B USDT ETH | Long 53% | Trades 7.9B USDT 📊 Order Book: Buy/Sell Ratio 1.04 (Balanced)
⚡ This Week's Core Contradictions: • F&G Extreme Panic but BTC Hasn't Broken Lower: Potential Divergence Signal • BTC Shorts 100% Overcrowded: Watch for Short Covering Rebound Signal • ETF Net Outflow -127M: Institutions Still Reducing Holdings
Think clearly about the contradictions, and do not heavily bet on direction before resolving them.
A team helped TAO increase by 90%, only to be driven away by the founder using centralized means.
This is not infighting.
This is the cruelest reflection of decentralized AI.
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What did Covenant AI do?
A 70 billion parameter model, 72 billion parameters, over 70 independent contributors, and collaborative training on general hardware.
This is the largest decentralized large model pre-training practice in human history.
NVIDIA's CEO acknowledged it. Anthropic's co-founder cited it.
Then, Bittensor co-founder Jacob Steeves did the following: • Suspended their subnet incentives • Revoked community management permissions • Unilaterally announced the "deprecation" of their infrastructure • Massively sold tokens to apply pressure
In the end, they left.
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There is a sentence in the original text that pierces through all the narratives of decentralization:
"A subnet owner who can autonomously build a community, make independent decisions, and operate without permission is a threat to those whose power relies on everyone depending on them."
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This is not a problem with Bittensor.
This is an industry-wide problem.
Every AI project claiming to be "decentralized" should answer this question:
When a participant becomes too successful and too independent, would you do the same?
TAO's price dropped from $340 to $286, then returned to $291.
The market's reaction to this story is itself the tragedy of the crypto industry:
Used to it, laid back, thinking this is the "inevitable phase of early projects."
But Covenant AI says:
Either truly achieve decentralization or stop pretending.
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What does this mean for TAO?
Covenant AI is a team that is genuinely doing work. Their departure is a real vote against Bittensor's commitment to "decentralization."
If the value of this network is built on "decentralized training," then that value is now missing a significant piece.
Pay attention to this story.
It will become a watershed event in the decentralized AI industry.
This is not a loss of control; this is a historically significant opportunity area.
📊 Historical Data: • When F&G≤20: BTC's average increase over the next month is +26% • When F&G≤15: BTC's average increase over the next three months is +71% • Last time F&G≤15: 2023 bear market low point area
Current BTC $73,210, 7 days +0.0%.
Position Suggestions: • Not ALL IN, but start building positions in batches during panic • Set stop-loss, but do not panic sell at the lowest point • Keep some powder dry, enter in 2-3 batches
When others are fearful, you should start thinking: where are the opportunities.
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📊 Sentiment: 🔴16/100 (Extreme Fear) F&G=16 Extreme Panic. Historical data: F&G≤20 when BTC monthly average +26%. This is not a gamble, it's about starting to look for opportunities in batches.
Think clearly about one thing tonight: Is the core logic supporting the position still there? If yes → A drop is an opportunity If no → Early stop loss is better than late stop loss
⚡ Core Conflicts This Week: • F&G Extreme Panic but BTC hasn't broken lows: Potential Divergence Signal • ETF Net Outflow -127M: Institutions Still Reducing Holdings • ETH Longs Relative to BTC More Crowded: Alt Season May Start
Think clearly about the conflicts; do not heavily bet on direction before resolving them.
This is not emotional overflow; this is a historical opportunity zone.
📊 Historical data: • When F&G≤20: BTC's average increase in the next month +26% • When F&G≤15: BTC's average increase in the next three months +71% • Last time F&G≤15: 2023 bear market's lowest point area
Current BTC $73,096, 7 days +0.0%.
Position advice: • It's not ALL IN, but starting to build positions gradually in panic. • Set stop-losses, but do not panic sell at the lowest point. • Keep some bullets, enter in 2-3 batches.
When others are fearful, you should start thinking: where is the opportunity.
📰 The timing and format of the US-Iran negotiations remain unknown, media center has been activated
BlockBeats news, on April 11, the US and Iranian delegations are expected to hold negotiations in Islamabad, the capital of Pakistan. Currently, Islamabad has strengthened security, and the media center has started to operate. However, as of now, there is no clear information regarding the timing and format of the negotiations. It is reported that the US and Iranian sides may not necessarily conduct face-to-face talks in the first phase, but rather the US and Iranian sides will first meet separately with Pakistan, after which they will decide whether direct negotiations between the US and Iran can take place. (CCTV)...
Analysis path: ① What is the impact of this news on supply and demand? ② What is the transmission path of market sentiment? ③ What is the impact on your current position?
Think through these three points before deciding whether to adjust.
Don't chase highs and lows because of a single piece of news, but reconsider your core logic because of this news.