The crypto market has significantly rebounded: Solana development enters a new stage, MC becomes a new hotspot in the AI sector.

Market Overview

Market Overview

This week, the cryptocurrency market has shown an upward trend, with the overall market and most altcoins experiencing gains. The recently sluggish market sentiment has significantly improved, with the market sentiment index rising from 55% to 79%, entering a bullish territory overall. The market capitalization of stablecoins continues the upward trend that began last week (USDT reached 145.7 billion, USDC reached 61.9 billion, with increases of 0.62% and 2.32%, respectively), indicating that funds are increasing their entry力度, primarily driven by U.S. capital growth, reflecting that this week’s market situation has greatly boosted U.S. investor sentiment, leading to an accelerated entry.

This week's upward trend was mainly influenced by the easing of the U.S. tariff policy towards China, Trump's indication that he does not intend to fire Federal Reserve Chairman Powell, and the new SEC Chairman Paul Atkins taking office with a friendly attitude towards the encryption industry, which promoted a significant rebound in the market this week. However, the market still faces uncertainties from an impending economic recession in the U.S. and tariffs, so this week's increase can only be seen as a rebound from the previous period of overselling, and not as a reversal of the market trend.

Next Week's Predicted Targets

Bullish targets: Solana, SNX

SOL: The Solana ecosystem is fully rebounding, with the rise of meme tokens, stablecoins, and decentralized trading platforms driving the recovery of the crypto market.

The Meme token market is rebounding.

This week, as the market conditions improved, the trading volume of Meme tokens on the Solana chain has significantly increased. The number of Meme tokens purchased has consistently exceeded the number sold, driving a rapid recovery in Solana chain data. This indicates that despite the losses caused to on-chain users by the previous Meme wave retreat, investor interest in Meme tokens remains strong. Furthermore, after Pump.fun launched PumpSwap, the daily trading volume of PumpSwap has gradually increased, maintaining between $300 million and $480 million, accounting for 9% to 19% of the DEX trading volume on the Solana chain. It can be seen that the Meme market is gradually warming up. The activity level of the Meme token market helps to boost SOL prices in the short term.

Growth of On-chain Stablecoin Supply

The supply of stablecoins on the Solana chain has been rapidly increasing, currently surpassing 12.8 billion USD, reaching a historical high. This growth reflects investors' confidence in the Solana ecosystem and the demand for on-chain liquidity support. The ample supply of stablecoins provides important liquidity support for financial activities on the Solana chain, promoting the development of the on-chain ecosystem. This liquidity not only enhances the activity of on-chain transactions but also provides investors with more trading and investment opportunities.

The trading volume of DEX on the Solana chain is increasing

The decentralized exchange (DEX) on the Solana chain has seen a trading volume of over $3.5 billion in the past 24 hours, indicating a recovery in on-chain activity. The supply of stablecoins has also been continuously increasing, recently surpassing $18.2 billion. This reflects investor confidence in the Solana ecosystem and provides more liquidity support on-chain.

Solana decentralized policy

The Solana Foundation has launched a new policy to strengthen decentralization. For the newly added validators in its delegation program, if certain validators have been qualified to receive Solana Foundation delegation for at least 18 months on the mainnet and have a staking amount of less than 1000 SOL outside of the Foundation's delegation, three of them will be removed. This policy aims to reduce dependence on the Foundation's delegation and encourage community-supported validators.

Institutional companies are increasing their holdings

The Canadian listed investment company SOL Strategies issued $500 million in convertible bonds to purchase and pledge SOL. After SOL Strategies announced this news, its stock price rose by 23.5%. SOL Strategies intends to learn from Michael Saylor's MicroStrategy, continuously issuing convertible corporate bonds to increase BTC holdings in order to raise stock prices. If SOL Strategies' move is successful, it will provide substantial support and positive benefits for the SOL price. Moreover, a recent emerging trend is that traditional companies are gradually beginning to increase their SOL holdings through various means.

Positive news for SOL spot ETF

The application for SOL's spot ETF has been delayed, but with the new SEC chairman Paul Atkins taking office, the situation may change. Paul Atkins has a friendly attitude towards the crypto industry and has made building a clear regulatory framework for digital assets a top priority, which is good news for the approval of SOL's spot ETF and may further drive up the price of SOL.

SNX: From Decoupling Crisis to Recovery Hope, How Synthetix Rebuilds Market Confidence

Recently, the algorithmic stablecoin sUSD issued by Synthetix experienced a severe de-pegging event due to adjustments to Synthetix's debt management mechanism in the SIP-420 proposal. The price of sUSD fell as low as 0.68 USD, and Synthetix's token SNX also dropped to a low of 0.55 USD. The total locked value (TVL) of Synthetix reached a minimum of 72.23 million USD. Market investors' confidence in Synthetix has been shaken.

Remedial measures

· Liquidity incentives: Synthetix increases the yield to 49.18% by staking sUSD/sUSDe LP on Convex to attract more liquidity.

· Deposit Incentives: Through the Infinex project, Synthetix incentivizes users to deposit sUSD, distributing 16,000 OP rewards weekly to users who deposit over 1,000 sUSD, with the incentives lasting for six weeks.

· Staking Incentives: Users are allowed to stake sUSD into the 420 pool, with a one-year stake earning 5 million SNX as incentives.

· Negative incentives and staking optimization: Requires stakers to deposit a certain proportion of sUSD; if the standard is not met, debt relief will be suspended. When the anchor deviates, the proportion will be adjusted upwards. At the same time, implement SNX pooled staking to expand sUSD supply and launch Perps V4, which supports multiple collateral types and off-chain order matching.

Market Rebound

Under the push of these measures, the price of sUSD rebounded to a high of $0.88, and the price of SNX also rose to $0.74. In addition, the total locked value (TVL) of Synthetix increased from $72.23 million to $89.25 million, a growth of 23.56%.

Subsequent Impact

Although the decoupling issue of sUSD has not been completely resolved, Synthetix's proactive measures have given the market hope for recovery. If the price of sUSD can return to 1 dollar, investor confidence in Synthetix may be restored, thereby promoting further increases in the price of SNX.

Bearish targets: REZ, OMNI

REZ: Under the backdrop of sluggish Restaking, the unlocking of 8.64% of tokens may trigger concentrated selling by investment institutions and teams.

Renzo is a liquidity re-staking protocol based on the EigenLayer ecosystem, aimed at simplifying the complex staking mechanisms for end users and enabling rapid collaboration with EigenLayer node operators and Active Verification Services (AVS). Due to the recent poor performance of the Ethereum ecosystem and the continuous low price of ETH, the ETH staking rate has also declined, resulting in the Restaking track projects losing market attention. A total of 864 million REZ tokens will be unlocked on April 30, accounting for 8.64% of the total locked amount, with the current total circulation rate only at 21%. The linear unlocking chart published in its white paper indicates that the main recipients of this unlocking are investment institutions and project teams. Because the Restaking projects are currently less popular with fewer participants and the Ethereum ecosystem is performing poorly, this large unlock could trigger significant sell-offs, thus impacting the price of REZ tokens.

OMNI: Large token unlock is approaching, market sell-off risk intensifies

Omni is the interoperability layer of Ethereum, establishing low-latency communication between all Ethereum Rollups, allowing Ethereum to operate as an integrated system in the modular era. Omni itself is also a public chain project. Due to the recent prolonged downturn in the Ethereum ecosystem and the poor performance of various Layer-2 projects in this round, Omni, as a linking project between Layer-2s, has also lost its value. OMNI will unlock 16.63 million OMNI tokens on May 2, accounting for 16.64% of the total locked amount, while the current circulation rate is only 19%, which is equivalent to doubling the existing circulating token amount. The linear unlocking chart published in its white paper indicates that the main recipients of this unlocking are investment institutions and the project team. Moreover, due to the current low popularity of Omni, this large unlocking may trigger significant selling pressure, thereby impacting the price of OMNI tokens.

Hot Tracks

MC: Can it lead the future development direction of Crypto✖️AI?

MCP stands for Model Context Protocol, which was launched by Anthropic on November 25, 2024. After its launch, it did not receive market attention. Following the impact of Deepseek on existing AI software, the market began to gradually focus on optimizing algorithms and resource scheduling, changing the previous development approach of AI relying on accumulated computing power. As a result, the standardization of how external data and applications interact with large language models (LLM) and provide context through MCP has gradually gained market attention.

Recently, with the good performance of the MCP-related token Dark on the Solana chain after its listing on the trading platform Alpha, investors in the market have begun to show enthusiasm for the MCP-related tokens, making MCP one of the few concentrated hot tracks recently.

The concept of MC

The Model Context Protocol (MCP) is an open-source standard launched by Anthropic, originally developed as an extension of the Claude ecosystem, aimed at addressing the fragmentation issue of AI models interacting with external tools and data. It has now evolved into MCP as a secure and standardized way for AI agents powered by large language models to interact with external systems to obtain real-time data. In practical use, MCP can act as a universal adapter, enabling AI to access content repositories, business tools, and development environments.

The core goal of MCP is to enhance efficiency through standardized processes, allowing AI agents to shift from "understanding" to "doing", providing developers with efficient tools, and enabling businesses and non-technical users to easily customize their own agents. In this way, MCP can become a bridge connecting virtual intelligence with the real world, thereby promoting personalized innovation and development across various industries.

The working principle and technology of MC

MCP adopts technology

The technical foundation of MCP is JSON-RPC 2.0, a lightweight and efficient communication standard that supports real-time bidirectional interaction, similar to the high performance of WebSockets. It operates through a client-server architecture:

· MCP Host: User interaction applications, such as Claude Desktop, Cursor, or Windsurf, responsible for receiving requests and displaying results.

· MCP Client: Embedded in the host, establishes a one-to-one connection with the server, handles protocol communication, ensuring isolation and security.

· MCP Server: A lightweight program that provides specific functionalities and connects to local (such as desktop files) or remote (such as cloud APIs) data sources.

Transmission methods include:

· Stdio: Standard input and output, suitable for local rapid deployment, such as file management, with latency as low as milliseconds.

· HTTP SSE: Server-Sent Events, supports remote real-time interaction, such as cloud API calls, suitable for distributed scenarios.

Working Principle

MCP adopts a client-server architecture, simply put, it means that the MCP host wants to adjust