SINGAPORE, April 29, 2025 /PRNewswire/ — HTX DeepThink is dedicated to exploring global macro trends, key economic indicators, and major developments across the crypto industry. In a world where volatility is the norm, HTX DeepThink aims to help readers “Find Order in Chaos.”

This week, Bitcoin surged to $95,000 as President Trump signaled a softer stance on tariffs, boosting market sentiment. However, uncertainty around trade negotiations persists. With critical economic data releases on the horizon, early May may offer a brief but significant liquidity window for crypto markets. In this edition of HTX DeepThink, Chloe (@ChloeTalk1) from HTX Research breaks down the shifting macro landscape and outlines key risks and opportunities for the digital asset space.

Trump’s Second 100 Days Agenda: Delivering on Promises, Catching the Next Wave

In his first 100 days, President Trump swiftly implemented several crypto‐friendly measures, including refining the stablecoin regulatory framework and cutting government spending via DOGE. Next, the White House will focus on finalizing trade agreements and advancing a Russia–Ukraine peace effort, while pushing through the “Big, Beautiful” package—featuring large tax cuts, robust border security measures, and regulatory rollbacks—and securing Senate passage of the FIT21 bill to provide a clear framework for U.S. digital‐asset regulation.

Last Week’s Market Recap: Decoupling and Key Drivers

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Last week, crypto markets initially decoupled from U.S. equities, driven by a weakening dollar, increased crypto allocations from traditional firms and financial institutions, rising on‐chain stablecoin issuance, and continued net inflows into Bitcoin ETFs—pushing Bitcoin up to $88,000. Later, softened rhetoric on tariffs from President Trump and Treasury Secretary Bissenet further boosted sentiment. However, while signals of trade progress were encouraging, actual agreements remain months away, and hard‐line tariff hawks within the administration continue to exert significant influence, posing major uncertainty for the outlook.

Key Data Ahead: Short‐ and Medium‐Term Inflection Points

This week’s macro calendar is pivotal.

• April 30 @ 12:30 UTC: U.S. Q1 GDP (expected 0.2–0.4%, down from 2.4%) and Core PCE (month-over-month: ~0.1%)
• May 2 @ 12:30 UTC: April nonfarm payrolls (estimated 130K vs. 228K prior) and unemployment rate (steady at 4.2%)

If the data shows weakening growth but easing inflation, it will bolster mid-year rate-cut expectations and likely lift risk assets such as Bitcoin and Ethereum in tandem. Conversely, if all metrics exceed forecasts, rate-cut hopes may be delayed or rate-hike fears revived, driving Treasury yields and the dollar higher and weighing on the crypto market in the short term.

In extreme cases:

• Negative GDP + job losses → panic sell-off, rebound on easing bets
• Hot inflation + stalled growth → stagflation risks emerge

Fed Holds Steady: The “Self‐Preservation” Behind a Technically Valid Rate Cut

As of now, the Fed’s reserve balances stand at about $3.3 trillion, overnight reverse repos at $94 billion, and the Treasury General Account remains high—conditions that technically allow for a rate cut. Yet in FY 2024, the Fed paid $226.8 billion in interest on reserves and RRP, while earning only $158.8 billion on Treasuries and MBS, resulting in a $77.5 billion net loss. A 0.3 ppt rate cut would reduce annual portfolio income by roughly $20 billion on $6.7 trillion of assets, widening losses and slashing remittances to the U.S. Treasury. To preserve its financial sustainability and political independence, the Fed has chosen to keep rates unchanged.

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Liquidity Window & Summer Risks: Timing the Optimal Entry

If this week’s data align with a slowdown, May may offer a brief liquidity window as funds rotate back into crypto. However, once the debt ceiling is raised—likely in June to July—the Treasury will refill its TGA to $50–60 billion via new bond issuance, draining equivalent liquidity from markets. Short‐term rates will rise, and risk assets will come under pressure; historically, Bitcoin and the broader market have fallen about 5%–10% in the weeks following such TGA rebuilds. Investors should therefore capitalize on the early‐May window while hedging for the summer liquidity drain.

Outlook: Stay Disciplined, Follow the Trend

Against a backdrop of intersecting policy catalysts and liquidity shifts, near‐term tactics should focus on key data releases and the May liquidity window, while longer‐term attention centers on FIT21 implementation and continued institutional adoption of BTC and other assets like Solana. The next major uptrend may well arise under these dual tailwinds—seize the opportunity.

*The above content  is not an investment advice and does not constitute any offer or solicitation to offer or recommendation of any investment product.

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About HTX Research

HTX Research is the dedicated research arm of HTX Group, responsible for conducting in-depth analyses, producing comprehensive reports, and delivering expert evaluations across a broad spectrum of topics, including cryptocurrency, blockchain technology, and emerging market trends.

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SHANGHAI, April 29, 2025 /PRNewswire/ — Cango Inc. (NYSE: CANG) (“Cango” or the “Company”), a rapidly expanding leader in Bitcoin mining, announced the initiation of coverage by Apollo Insights, an independent equity research firm.

Apollo Insights initiated coverage on Cango on April 22, 2025, following the release of its equity research report and investment thesis titled “Cango Catapults Into Bitcoin Mining”.

The equity research report highlights include:

• The Company has a market capitalization of $387.1 million
• The 12-month low and high for the Company’s stock is $1.33 and $8.00, respectively.
• Apollo Insights estimates that Cango’s fiscal 2025E revenue and adjusted EBITDA will reach RMB3,913.2 million and RMB665.6 million, respectively
• In fiscal 2026E, revenue and adjusted EBITDA are projected to reach RMB4,644.6 million (an 18.7% year-over-year increase) and RMB1,185.2 million (a 78.1% year-over-year increase), respectively.
• The firm attributes its favorable outlook for Cango to a supportive regulatory environment under the Trump administration and the potential for greater clarity in cryptocurrency regulations.

The initiation of coverage underscores Cango’s remarkable rise in the Bitcoin mining industry in a short time. The Company has developed its mining operation at a lower cost and reduced operational risks through strategic partnerships for acquiring Bitcoin mining equipment. This higher overall operating efficiency ensured the Company generated an average operating hash rate of 30.3 exahash/second (EH/s) in March 2025, placing Cango in joint second for the highest operating hashrate in the month.

The Company’s capital-light model has helped it accumulate holdings of approximately 2,475 Bitcoin as end-March 2025, valued at roughly US$211 million as of April 17, 2025. Cango has not sold any of its Bitcoin holdings yet. Overall, as of March 2025, Cango ranks as the fifth-largest Bitcoin mining player by deployed hashrate, achieving 32 EH/s in just four months. The report projects that its deployed hashrate will reach 42 EH/s by the end of FY25E.

Since entering the Bitcoin mining industry in November 2024, Cango has expanded its global footprint across strategic regions. Its mining operations now span the U.S. (38%), East Africa (37%), Oman (15%), Paraguay (9%), and Canada (1%).

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Click here to view Apollo Insights’ full equity research report and investment thesis on Cango.

About Cango Inc.

Cango Inc. (NYSE: CANG) primarily operates a leading Bitcoin mining business. Cango has deployed its mining operation across strategic locations including North America, Middle East, South America, and East Africa. Cango expanded into the crypto assets market in November 2024, driven by the development in blockchain technology, increasing prevalence of crypto assets and its endeavor to diversify its business. Meanwhile, Cango has continued to operate the automotive transaction service in China since 2010, aiming to make car purchases simple and enjoyable. For more information, please visit: www.cangoonline.com.

Media Contact

Juliet Ye
Cango Inc.
Tel: +86 21 3183 5088 ext.5581
Email: [email protected] 

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VICTORIA, Seychelles, April 29, 2025 /PRNewswire/ — MEXC, a leading cryptocurrency exchange, witnessed impressive growth throughout 2024, with its global user base soaring to 36 million and trading volumes surging across the board. The platform recorded a 143% increase in Spot trading volume and a 118% jump in Futures trading volume, reflecting its rising dominance in the digital asset space. As MEXC celebrates its 7th anniversary, it has not only weathered the challenges of a highly competitive industry but has firmly positioned itself as one of the top-performing exchanges worldwide—driven by innovation, scalability, and user-first service.

Key Highlights:

• Spot Trading Volume: +143% YoY
• Futures Trading Volume: +118% YoY
• Market Share: Jumped from 2.4% in 2023 to 13.06% in Q1 2025
• User Base: Reached 36 million globally
• Listed Assets: Over 3,000
• Employees: Doubled to 2,000+
• Recovered User Assets: Over $1.8 million
• Customer Service Tickets Resolved: 1.1 million+

Unprecedented Trading Volume Growth: Dominating Market Share

MEXC has demonstrated exceptional performance in its core trading business, with remarkable growth metrics that reflect its increasing dominance in the cryptocurrency exchange landscape. According to the latest data, the platform achieved an impressive 143% growth in Spot trading volume and a substantial 118% increase in Futures trading volume over the past year.

According to TokenInsight’s industry report, MEXC’s market share surged from 2.4% in 2023 to 11.6% in 2024, and further increased to 13.06% in 2025 Q1. The CoinGecko Q1 2025 report also highlighted MEXC’s expanding market presence and growing influence in the global cryptocurrency exchange ecosystem, noting its leap into 3rd place in terms of futures trading volume.

This impressive growth is well above the industry average, showing that more and more traders are choosing MEXC for its strong trading tools. With high liquidity, low fees, and reliable performance in both Spot and Futures markets, the platform continues to attract a wide range of users—from everyday investors to major institutions.

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36 Million Users and Counting: MEXC’s Global Expansion

In a testament to its expanding influence, MEXC has witnessed phenomenal user adoption over the past year. The platform welcomed an impressive number of new users, significantly expanding its ecosystem. This substantial influx has propelled the exchange to reach a cumulative user base of 36 million globally.

This rapid growth isn’t just about the numbers—it shows that millions of people and institutions are choosing to trust MEXC for its reliable infrastructure, strong security, and quality service. The platform’s success in gaining and keeping users from around the world highlights its broad appeal and the increasing trust it’s earning from crypto enthusiasts, traders, and investors everywhere.

Strategic Organizational Expansion: Scaling with Purpose

Understanding that technological innovation is driven by human talent, MEXC has undertaken a strategic workforce expansion, nearly doubling its staff to 2,000 employees. This deliberate scaling has focused on strengthening three critical operational pillars:

1. Growth Center – A specialized division dedicated to accelerating user acquisition, enhancing platform adoption strategies, and exploring new market opportunities. This team spearheads MEXC’s expansion into emerging cryptocurrency markets while strengthening its position in established ones.

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2. R&D Center – The innovation engine of MEXC, where talented engineers and developers work tirelessly to enhance the platform’s technological infrastructure, develop cutting-edge features, and implement security protocols that safeguard user assets. The R&D team’s commitment to excellence ensures that MEXC remains at the technological vanguard of the crypto exchange landscape.

3. Business Support – The operational backbone ensuring seamless platform functionality, superior customer experience, and efficient business processes. This division works behind the scenes to maintain the high standards of service that users have come to expect from MEXC.

Diverse Asset Offerings with Reward Programs

MEXC continues to enhance its position as a versatile and comprehensive trading platform, offering sophisticated Spot and Futures trading services that cater to both novice and experienced traders. The exchange has significantly expanded its asset portfolio to include an impressive 3,000+ listed assets, providing users with unparalleled diversity in trading options across various cryptocurrencies, tokens, and digital assets. This extensive listing strategy reflects MEXC’s commitment to offering users access to emerging projects and established cryptocurrencies alike, creating a dynamic marketplace where traders can diversify their portfolios and capitalize on market opportunities.

Complementing this diverse asset ecosystem, MEXC has implemented one of the industry’s most comprehensive reward programs, successfully orchestrating 2,293 airdrop events through its innovative token airdrop program, distributing a substantial prize pool valued at $136 million. These strategic initiatives serve multiple purposes: rewarding loyal users, incentivizing platform participation, and introducing the community to promising new projects. By consistently sharing value with its user base while maintaining robust liquidity and advanced trading infrastructure, MEXC has cultivated a culture of reciprocity and mutual growth that strengthens user loyalty and platform advocacy.

Thriving Community: Nurturing Global Connections

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MEXC’s vibrant community continues to flourish across multiple social platforms, with its X account followers almost doubling to 2.25 million. This substantial social media presence amplifies the exchange’s voice in cryptocurrency discourse and facilitates direct engagement with users and stakeholders.

Complementing its social media presence, MEXC’s Telegram ecosystem has expanded to include 193,000 members across various groups, creating dynamic spaces for real-time discussions, market insights, educational content, and peer support. These community hubs foster a sense of belonging among users while serving as valuable channels for information dissemination and feedback collection.

The robust growth of MEXC’s community ecosystem reflects the platform’s success in transcending its role as a mere trading venue to become a vibrant hub for cryptocurrency enthusiasts and professionals worldwide.

Customer-Centric Service: Setting Industry Standards

MEXC’s unwavering commitment to customer satisfaction is evidenced by its responsive and resourceful customer service team, which has successfully addressed over 1.1 million customer service requests in the past year. This volume underscores both the scale of MEXC’s operations and its dedication to providing timely assistance to users navigating the complexities of cryptocurrency trading.

Beyond routine support, MEXC’s customer service team has demonstrated exceptional value by helping users recover over $1.8 million in assets that might otherwise have been lost due to user errors, technical issues, or misconceptions. This recovery effort exemplifies MEXC’s proactive approach to customer service and its genuine concern for user welfare beyond transactional relationships.

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The quality and effectiveness of MEXC’s customer service infrastructure set new benchmarks for the industry, reinforcing user confidence and contributing significantly to the platform’s reputation for reliability and trustworthiness.

Looking Ahead: Charting the Course for Future Growth

Behind the impressive growth figures lies the comprehensive result of MEXC’s ongoing investment in core trading infrastructure, rapid asset listings, enhanced user experience, and region-specific strategies. MEXC has evolved from its former position as a market follower to establish itself firmly among the world’s elite cryptocurrency trading platforms, demonstrating leadership through innovation and consistent performance excellence.

As MEXC embarks on its eighth year, the exchange stands poised for continued innovation and market leadership. Built on a foundation of user trust, technological excellence, and community engagement, MEXC is strategically positioned to navigate the evolving cryptocurrency landscape.

The impressive metrics across all business areas highlight MEXC’s successful execution of its strategic roadmap and adaptability in a dynamic industry. With its proven track record and clear vision, MEXC remains committed to providing a secure, efficient platform for cryptocurrency enthusiasts worldwide, continuing to shape the future of digital finance.

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About MEXC

Founded in 2018, MEXC is committed to being “Your Easiest Way to Crypto.” Serving over 36 million users across 170+ countries, MEXC is known for its broad selection of trending tokens, everyday airdrop opportunities, and low trading fees. Our user-friendly platform is designed to support both new traders and experienced investors, offering secure and efficient access to digital assets. MEXC prioritizes simplicity and innovation, making crypto trading more accessible and rewarding.

MEXC Official Website｜ X ｜ Telegram ｜How to Sign Up on MEXC

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