🐳 The cryptocurrencies seeing the highest rise in whale activity this week are:

🪙 Pancake Swap $CAKE

🪙 USD Coin $USDC (On Arbitrum)

🪙 Hex $HEX

🪙 Mantle $MNT

🪙 Dai $DAI (On Binance Chain)

🪙 Wrapped Ethereum $WETH

🪙 WhiteBit $WBT

🪙 USD Coin $USDC (On Optimism)

🪙 Dai $DAI (On Avalanche)

🪙 Unus Sed Leo $LEO

👋 Thanks to the many DeFi and staking options, Ethereum's holders have now brought the available supply on exchanges down to 8.97M, the lowest amount in nearly 10 years (November, 2015). There is 16.4% less $ETH on exchanges compared to just 7 weeks ago. 😮

🧑‍💻 Here are crypto's top 10 DeFi projects by development. Directional indicators represent each project's ranking positioning since last month:

➡️ 1) Chainlink $LINK 🥇

📈 2) DeFiChain $DFI 🥈

📉 3) Deepbook $DEEP 🥉

➡️ 4) Synthetix $SNX

➡️ 5) Coinbase Wrapped BTC $CBBTC

📈 6) Lido DAO $LDO

📉 7) Liquity $LQTY

📉 8) Liquity USD $LUSD

➡️ 9) Injective $INJ

➡️ 10) Uniswap $UNI

Read about Santiment's methodology for covering development activity for over 3,800 projects!

🇺🇸🏦 The highly anticipated FOMC meeting has concluded with Jerome Powell announcing unchanged interest rates for the time being. However, there were a few key (mostly encouraging) takeaways that have led to crypto and equities reacting positively after the news was announced:

📌There are still two rate cuts expected to occur later on this year, with expectations of continued higher inflation and lower economic growth.

📌The U.S. economy growth is now expected to be +1.7%, as opposed to the projection of +2.1% which was made in December.

📌Jerome Powell stated that the low growth projection, combined with high expected continued inflation, are balancing each other out.

📌Powell says that the US tariffs could delay the goal of decreasing inflation.

📌In the Fed's eyes, there is a slightly higher estimated likelihood of a recession under these current economic circumstances.

Look for cryptocurrency markets to closely mirror the S&P 500 throughout the indefinite future, though individual altcoins can continue to see increased unpredictability and volatility.

📈 XRP has decoupled from the altcoin pack, surging another +14% and breaching the $2.50 resistance for the first time in 12 days. Wallets with at least 1M $XRP now hold 46.4B coins, as they have accumulated 6.5% more in just the past 2 months alone. Address activity has also exploded in the month of March, seeing approximately 6x more unique wallets interacting on the network in March compared to earlier months.

It goes without saying that this price boost is also directly correlated with the SEC officially dropping its appeal against Ripple today. Ripple CEO Brad Garlinghouse has already deemed this a 'resounding victory' for the entire crypto community. 👍

🥇 Gold has seen an increasing level of interest among traders, with its price surging above $3,000 (and rising) for the first time. Crypto's decline in the past couple of months has switched traders' focuses to other sectors, representing an ongoing level of FUD.