Bitunix Weekly Hot Coins Guide (April 26, 2026)

1. Market Overview

This week, the macro environment continued to be characterized by uncertainty and strategic interplay. The ceasefire agreement between the United States and Iran was extended, easing geopolitical risks, while Federal Reserve Chair nominee Kevin Warsh signaled a policy stance combining balance sheet reduction with rate cuts during his hearing, raising market expectations for marginal liquidity easing. Against this backdrop, overall sentiment in the cryptocurrency market remained relatively constructive, with Bitcoin posting a gain of over 5% for the week and demonstrating relative resilience. However, structural divergence re-emerged, as most altcoins, including Ethereum, failed to sustain the momentum seen over the previous two weeks, with capital increasingly concentrating in leading assets and a select group of high-conviction tokens. The Weekly Hot Coin Guide will continue to focus on the top 300 tokens by market capitalization listed on Bitunix, while also analyzing trending U.S. equity derivatives, aiming to identify high-volatility, high-amplitude assets and help investors capture short-term trading opportunities across crypto and equities.

2. Weekly Performance of Crypto Assets

The partial easing of geopolitical risks and marginally looser monetary policy expectations provided some offsetting support; however, the market remains in a phase of expectation-driven positioning and liquidity repricing, with risk assets showing increasingly pronounced divergence. The median return of the top 300 tokens by market capitalization recorded -1.12% this week, with only around 30% of crypto assets posting gains, indicating a notable decline in overall profitability across the market. In terms of individual performance, STABLE led the market with a gain of +58%, followed by SKYAI at +33%, and GRASS at approximately +30%, highlighting that select assets can still generate alpha in a structurally differentiated market. On the downside, leading decliners experienced significant drawdowns: RAVE, which had previously surged, fell by 93% over the past seven days, while SIREN and ORDI declined by 60% and 50%, respectively. This reflects the elevated downside pressure faced by high-volatility assets during periods of capital outflow.

3. Hot Token Analysis — STABLE

STABLE is the governance token of the Stable public chain. Stable is a Layer 1 blockchain project supported by Bitfinex and Tether, positioned as a global stablecoin payment and settlement infrastructure optimized for USDT. The project uses USDT as the native gas and settlement asset, aiming to reduce the cost and friction associated with gas fees and cross-chain operations in traditional blockchains. It supports free P2P transfers and achieves sub-second transaction finality. Technically, it adopts an EVM-compatible architecture and embeds USDT liquidity into the network’s consensus and governance mechanisms, thereby reducing reliance on highly volatile tokens.

In April, the Stable project launched its Agent payment feature along with corresponding technical standards, marking a key evolution from a single settlement infrastructure to a “programmable payment layer.” Built on its USDT-native gas and settlement design, this feature introduces automated payment agent mechanisms, enabling applications to execute payment authorization, settlement, and processing under predefined conditions, thereby improving usability and efficiency in enterprise-level payment scenarios.

3.1 Technical Analysis

The STABLE token had previously remained in a prolonged consolidation range, with relatively stable price action. At 23:00 on April 23, STABLE experienced a sudden surge in volume, with its price rising rapidly from $0.030 to $0.039 within one hour, representing an approximate 30% increase, indicating concentrated short-term capital inflows driving the breakout. From a technical perspective, during this rapid upward move, the MACD had not yet formed a clear bullish crossover, suggesting accelerated momentum release. Meanwhile, the RSI has reached 74, indicating that the price has entered a relatively strong zone and may face short-term consolidation or momentum digestion at higher levels.

3.2 Fundamentals of the Public Chain Project

As a stablecoin-focused public chain under Tether’s strategic framework, Stable forms a complementary “dual-engine” structure alongside Plasma, another initiative also backed by Tether. Amid the rapid rise in global stablecoin adoption (with USDT circulation surpassing $190 billion), underlying infrastructure is undergoing a paradigm shift from general-purpose blockchains to specialized architectures. Stable and Plasma represent two distinct technological paths in this evolution.

Stable adopts an independent Layer 1 model and innovatively uses USDT as the native gas token, emphasizing high payment efficiency, low costs, and enterprise-grade settlement capabilities to reshape the on-chain user experience for stablecoins. In contrast, Plasma is deeply rooted in the Bitcoin ecosystem, leveraging a sidechain design anchored to BTC security, combined with a “zero-fee transfer” strategy to penetrate high-frequency retail payment scenarios.

Data analysis suggests that fundamental factors such as on-chain transaction volume and gas consumption are not the primary drivers of STABLE’s recent price surge. Since its mainnet launch on December 8, 2025, on-chain activity has shown a cooling trend. Even on April 23, when the token price surged, its 24-hour transaction count was only around 5,000. Compared to Plasma’s average daily transaction volume of approximately 300,000, there is a significant gap, indicating a divergence between STABLE’s market performance and its actual network utilization.

3.3 On-chain and Off-chain Trading Structure

As a blue-chip public chain project, STABLE’s spot and derivatives markets are listed across major exchanges including Bitunix, Binance, and OKX, covering both CeFi and DeFi ecosystems. Over the past 24 hours, trading volume has been concentrated on the decentralized exchange PancakeSwap, with spot trading volume reaching $18.93 million, accounting for approximately 27% of total market volume, indicating that on-chain liquidity has dominated in the short term.

From a “smart money” perspective, Arkham data shows that wallet address “0xb33B” has been the most active in large STABLE transactions. This address began accumulating positions a week prior to the price surge. A transfer of 7 million STABLE was moved to address “0x3cFD,” which subsequently staked 2 million tokens on Kraken. On April 24, “0x3cFD” transferred 10 million STABLE back to “0xb33B,” which then moved the tokens to a multisig wallet “0x5528.”

3.4 Social Media

During the 48 hours surrounding STABLE’s sharp price increase, no significant positive announcements were released by the official team. Activity on its X (Twitter) account mainly highlighted CEO Brian’s participation in a Web3 summit in Hong Kong, where he shared insights on the stablecoin sector.

3.5 Summary

Based on the above analysis, the recent surge in STABLE’s price is unlikely to have been driven by fundamental improvements or positive news catalysts, but rather by concentrated on-chain capital flows. Multiple wallet addresses actively accumulated and pushed prices higher on PancakeSwap, amplifying price elasticity in a relatively low-liquidity environment. Additionally, with only about 20% of STABLE’s FDV currently in circulation, the highly concentrated token distribution further enhances the efficiency of price manipulation and capital control. Overall, this pattern closely resembles the previous rally seen in RAVE and represents a typical capital-driven upward structure.

4. Weekly Performance of Stock Derivatives

Bitunix launched U.S. equity derivatives for Alibaba (BABA) this week, further expanding its cross-market trading offerings. Following a strong rebound in the Nasdaq index in the previous week, overall market volatility moderated, with most stocks entering a consolidation phase rather than showing strong directional moves. In this context, Bitunix offers leverage of up to 50x, enabling both long and short strategies, helping users improve capital efficiency and capture structural trading opportunities in a low-volatility environment.

5. Featured Stock Derivative Analysis — BABA

Alibaba, as a leading Chinese e-commerce and technology platform, currently has a U.S. market capitalization of approximately $315 billion, with a forward P/E ratio of around 23.75x, placing it in a relatively stable valuation range among large-cap tech companies. Fundamentally, the company has established strong competitive moats in both e-commerce and cloud computing, supported by a stable user base and monetization capabilities. Its large language model, Tongyi Qianwen, has ranked highly in multiple benchmarks, reflecting continued investment and technological accumulation in generative AI. Supported by solid fundamentals and growth expectations, Alibaba exhibits relatively high elasticity as an investment asset.

Conclusion

With the extension of the U.S.-Iran ceasefire agreement and marginal easing in monetary policy expectations, overall market risk appetite remained stable this week, though structural divergence intensified. Bitcoin showed relative resilience within the crypto market, while most altcoins lost momentum. STABLE led gains driven by concentrated on-chain capital, while U.S. equity derivatives demonstrated relative stability. Bitunix will continue to focus on high-volatility and high-elasticity assets, helping investors capture alpha opportunities across crypto and equities.

Disclaimer

This article is not intended to provide
(I) investment advice or investment recommendations;
(Ii) an offer or solicitation to buy, sell or hold digital assets;
(Iii) Financial, accounting, legal or tax advice. Digital assets held (including stablecoins and NFTs) involve high risk and may fluctuate significantly. You should carefully consider whether trading or holding digital assets is right for you based on your financial situation. Please consult your legal/tax/investment professional for your specific situation. Please be responsible for understanding and complying with all applicable local laws and regulations.

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