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On-chain Perpetual Contract Trading Cools Off: DEX Volume Declines for 5 Consecutive Months

2 hours ago

April 6th figures show on-chain perpetual contract (Perp) trading has cooled off after peaking in 2025. Per DefiLlama data, decentralized exchange (DEX) Perp trading volume dropped to roughly $699 billion in March 2026 — a sharp pullback from the $1.36 trillion peak in October 2025, marking five straight months of declines. Daily metrics also weakened: On April 4th, on-chain Perp DEX volume fell to $84 billion, dipping below $100 billion for the first time since September 2025 and hitting its lowest level since July 2025. This signals a notable cool-down in market speculation and leverage demand. In the platform breakdown: Hyperliquid still holds a commanding lead, with $185.5 billion in volume over the past 30 days — accounting for roughly 34% of the total among the top ten platforms. It’s followed by edgeX ($73 billion) and Aster ($68 billion). Analysts note Perp DEX volume is widely seen as a key gauge of market risk appetite and leverage levels. The ongoing decline reflects the on-chain derivatives market entering an adjustment phase after rapid growth in 2025, with liquidity increasingly concentrating at top platforms.
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Empery Digital Sells 370 Bitcoins to Raise Funds, Repurchases Over 24.6 Million Shares

On April 6, Empery Digital Inc. — a Nasdaq-listed firm — announced progress on its share repurchase program. As of April 3, 2026, the company has repurchased 24,640,671 shares of its common stock under its $200 million repurchase plan, at an average price of $5.77 per share. On the asset front, Empery Digital sold 370 bitcoins during the week ended April 3, at an average price of $66,632 per BTC, generating approximately $24.7 million in proceeds. The firm currently holds 2,989 BTC in reserves. Empery Digital noted it will continue optimizing its capital structure via a share repurchase strategy executed below its Net Asset Value (NAV). It may also secure funding for future repurchases by expanding credit financing or moderately divesting Bitcoin, with the goal of boosting its "per-share Bitcoin" metric and narrowing the discount between its stock price and NAV.

5 minutes ago

MicroCloud Hologram Plans to Invest $400 Million to Advance Bitcoin Quantum Resistance Upgrade

April 6th, Nasdaq-listed MicroCloud Hologram Inc. announced plans to invest $400 million in researching and developing the Bitcoin Post-Quantum Attack Protocol, aiming to advance the buildout of encryption infrastructure for the “quantum era.” The initiative will use a “hybrid encryption architecture”—integrating a post-quantum signature algorithm into the existing transaction system to run in parallel with traditional ECDSA, adding dual-signature security redundancy. It also supports progressive upgrades to avoid disrupting network stability. On the technical front, the company aims to be compatible with leading post-quantum algorithms, including lattice-based (e.g., CRYSTALS-Dilithium), hash-based (e.g., SPHINCS+), and multivariate signature schemes. Via modular design and signature compression, it will balance security and performance overhead. At the protocol level, validation logic will be implemented via an extended script system and new opcodes. Upgrades will roll out v

5 minutes ago

JPMorgan Chase CEO Letter to Shareholders: Geopolitical Risk Top Concern, Alert on Private Credit Risks

**Jamie Dimon Flags Geopolitics as Top Global Risk in JPMorgan Shareholder Letter** JPMorgan Chase CEO Jamie Dimon, in his latest shareholder letter (dated April 6), identified geopolitical conflicts—especially in the Middle East—as the world’s biggest current risk, warning they could spark energy price swings, recurring inflation, and upward pressure on interest rates. Dimon called for the U.S. to “become stronger” economically and militarily, and revealed JPMorgan is advancing a $1+ trillion “Safety and Resilience” investment plan to bolster the nation’s economic foundation and industrial security. On financial risks, he flagged private credit as a potential hazard: its lack of transparency and flawed valuation systems could trigger investor panic selling if the macro environment worsens, though he noted this area is “relatively unlikely to cause systemic risk.” He also criticized gaps in new U.S. bank capital rules, slamming additional capital requirements for large bank

5 minutes ago

Another Petrochemical Facility in Iran Targeted

Local time April 6 — A petrochemical complex in Mahshahr, a southern Iranian city, was hit by a U.S. attack on April 6, sparking a large fire. The blaze is now under control, and no major damage has been reported. Earlier reports also stated that on the same day, petrochemical facilities in South Pars and Assaluyeh (Bushehr Province, Iran) were targeted in attacks as well. (Source: Jinse)

5 minutes ago

Trump Has Not Yet Approved Ceasefire Plan

On April 6, the White House said President Trump has not yet approved a ceasefire plan. The proposed ceasefire is merely one of several proposals. (Kryptonian)

5 minutes ago

Citi: Fed Expected to Cut Rates in September, Previously Expected in June

On April 6, Citigroup said it expects the Federal Reserve to cut interest rates in September, down from its prior expectation of a June rate cut.

5 minutes ago

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