According to the author, the dilution of cypherpunk values in crypto, exemplified by corporate actions like Coinbase's political sponsorships and Ripple's lobbying, could heighten regulatory risks and investor uncertainty, potentially increasing volatility for BTC, ETH, and XRP. The author notes that events such as the GENIUS Act may bring regulatory clarity but warn that ethical compromises could undermine market sentiment and long-term adoption.

According to glassnode, XRP Hot Capital experienced a significant surge from $0.92 billion on April 20 to $2.17 billion on April 28, marking a $1.25 billion or 134.9% increase. Despite this sharp rebound, current Hot Capital levels remain approximately 72% below the December 2024 peak of $7.66 billion. This sustained lower capital inflow may indicate that while short-term speculative interest is rising, overall market conviction is still recovering, which could affect trading momentum and liquidity in the near term (source: glassnode, April 29, 2025).