Crypto Market Recap: Bitcoin Holds Above US$90,000, Strategy Bags Another US$1.42 Billion

Bitcoin and Ethereum price update

Bitcoin (BTC) was priced at US$94,726.46 as markets opened for the day, up 0.6 percent in 24 hours. The day’s range has seen a low of US$92,953.34 and a high of US$95,490.92.

Bitcoin performance, April 28, 2025.

Chart via TradingView

The Bitcoin rally was fueled by Strategy’s US$1.42 billion Bitcoin purchase and a broader US$3.5 billion accumulation by large holders, indicating institutional interest remains strong.

Ethereum (ETH) ended the day at US$1,809.25, a one percent decrease over the past 24 hours. The cryptocurrency reached an intraday low of US$1,760.54 and a high of US$1,821.94.

Altcoin price update

• Solana (SOL) ended the day valued at US$151.52, down 1.1 percent over 24 hours. SOL experienced a low of US$145.12 and peaked at $152.91.

• XRP traded at US$2.33, reflecting a 2.9 percent increase over 24 hours. The cryptocurrency recorded an intraday low of US$2.22 and reached its highest point at US$2.34.

• Sui (SUI), this week’s outperformer, was priced at US$3.69, showing an increaseof 1.7 percent over the past 24 hours. It achieved a daily low of US$3.42 and a high of US$3.85.

• Cardano (ADA) was trading at US$0.7234, up 1.2 percent over the past 24 hours. Its lowest price on Monday was US$0.685, with a high of US$0.7270.

Today’s crypto news to know

Strategy stacks US$1.42 billion in Bitcoin as price soars past US$90,000

Bitcoin bull Michael Saylor’s firm, Strategy, added another 15,355 BTC to its holdings last week, spending roughly US$1.42 billion between April 21 and 27 as Bitcoin surged past the US$90,000 mark.

According to Strategy’s April 28 filing with the US Securities and Exchange Commission, the purchase was made at an average price of US$92,737 per Bitcoin, bringing the company’s total haul to a staggering 553,555 BTC — now valued at more than US$50 billion.

The move marks Strategy’s largest Bitcoin acquisition since late March and reflects the firm’s aggressive accumulation strategy despite growing market volatility.

On social media, Saylor celebrated the purchase, noting that Strategy’s Bitcoin yield now sits at 13.7 percent year-to-date, and reaffirmed his belief that Bitcoin remains massively undervalued despite its recent rally.

With the company’s market cap pushing toward US$100 billion and Bitcoin trading around US$95,000, Strategy’s latest moves signal continued institutional confidence in Bitcoin as a core asset class.

Grayscale pushes SEC to approve Ethereum ETF staking

Grayscale Investments is renewing its pressure on the US Securities and Exchange Commission (SEC) to allow staking activities for Ethereum ETFs, highlighting that restrictive rules have already cost American funds more than US$61 million in foregone rewards.

In a high-level meeting with the SEC’s Crypto Task Force, Grayscale executives presented a proposal to amend existing Ethereum ETF filings to permit staking, emphasizing the competitive disadvantage US funds now face compared to their European and Canadian counterparts.

Grayscale argued that staking would not only enhance investor returns but also contribute to Ethereum network security, supporting a more resilient decentralized infrastructure.

The company also laid out a liquidity management plan to address concerns about redemption risks, including credit facilities and liquidity sleeves with custodians like Coinbase Custody.

SEC’s Hester Peirce likens US crypto regulation to ‘floor is lava,’ demands real reforms

SEC Commissioner Hester Peirce delivered a blistering critique of the United States’ crypto regulatory framework, comparing it to the children’s game ‘floor is lava,’ where firms are forced to hop precariously across unclear legal guidelines to avoid regulatory pitfalls.

Speaking at the SEC’s “Know Your Custodian” roundtable on April 25, Peirce criticized the lack of coherent, actionable rules for investment advisers, custodians, and exchanges dealing with crypto assets.

She stressed that without clear definitions around securities classifications and custodial qualifications, the industry is being paralyzed by uncertainty, stifling innovation and deterring responsible market participants.

Fellow commissioner Mark Uyeda reinforced Peirce’s warnings, urging the SEC to expand custodial options by recognizing state-chartered trust companies, a move he said is essential to the healthy development of crypto trading platforms and alternative trading systems.