Altcoins are experiencing a notable rise as meme activity declines. Significant gains have been observed in various cryptocurrencies, particularly KAITO and IP, with IP seeing an impressive 150% increase this week.

Bitcoin is approaching the $100,000 mark, while Ethereum continues to show strong performance. In a significant development, the SEC is anticipated to dismiss its lawsuit against Coinbase, which could have implications for the broader cryptocurrency market.

• A bill in Arizona proposing a Bitcoin reserve is advancing to the Senate.
• Utah is set to vote on a similar initiative in May.
• A public company in Africa has made headlines by acquiring $10 million in Bitcoin.
• VanEck has suggested that a reserve of 1 million BTC could help mitigate the U.S. national debt of $21 trillion.
• Plans have been announced for the U.S. to acquire 4.2 million BTC for reserves.

The weekly trading volume on Sonic’s decentralized exchange has surged by 85%, with S tokens rising by 60%. In other developments, the SEC has approved yield-bearing stablecoins, and a Litecoin ETF has been listed on the DTCC. However, several countries are still facing challenges in receiving payouts from FTX, and Sam Bankman-Fried is seeking a pardon from a former president.

📎 Related coverage from: decrypt.co