In April 2025, Bitcoin price rose by 16.16% despite market turbulence from US tariffs imposed by President Trump. Meanwhile, Ethereum’s tokenization value of real-world assets increased by 20%. In Canada, the Liberal Party secured a victory in the elections but fell short of a majority, impacting crypto policy direction. Additionally, new crypto legislation emerged from Texas and Georgia, while stablecoins saw a $4 billion increase in market cap during the month.
In April 2025, the crypto market experienced significant fluctuations, primarily driven by new tariffs imposed by US President Donald Trump. These tariffs, which affected trade with 185 countries, spurred a market drop that saw the Dow Jones Industrial Average plummet by 2,200 points and the S&P 500 decline nearly 6%. However, Bitcoin seemed to break from the downward trend, showing a strong recovery by month-end.
Notably, Bitcoin’s price ended the month with an impressive 16.16% increase, reaching $94,729 after initially dropping during the turbulent period that followed April’s tariff announcement. Meanwhile, the broader market faced challenges; investment managers reported a staggering $8.5 trillion loss in asset value across global markets from the announcements until early April.
In Canada, the political landscape shifted as Mark Carney’s Liberal Party won the federal elections on April 28, though they fell short of a majority. Securing 169 seats means the Liberals need collaboration with other parties to implement their policies. Carney has previously expressed skepticism about cryptocurrencies but has shown an interest in the potential of digital currencies and blockchain technology.
April also saw Ethereum making strides in the tokenization of real-world assets (RWAs), achieving a 20% increase in value to reach $6.2 billion. The demand for RWA tokenization is growing as established firms explore projects in real estate and commodities. Prominent figures, like BlackRock’s CEO Larry Fink, have touted Ethereum as the go-to blockchain for these initiatives, highlighting its efficiency for quick trading.
In the US, April saw two states—Texas and Georgia—introducing significant crypto legislation. Texas’ HB 5352 proposes a blockchain pilot program to boost transparency and efficiency in government. In Georgia, HR 905 aims to educate K-12 students about blockchain and cryptocurrencies, marking a step toward increased technological literacy across age groups. Meanwhile, in Arizona, despite vetoing an expansion of a regulatory sandbox for digital assets, Governor Katie Hobbs enacted a law that protects home crypto miners from local zoning restrictions.
Stablecoins are becoming more mainstream, gaining $4 billion in market cap during April alone. This growth aligns with the introduction of supportive legislation in various jurisdictions. In the US, the STABLE Act moved forward with a critical committee vote, aiming to regulate stablecoin issuance. Additionally, the SEC dropped a case against PayPal’s stablecoin, PYUSD, indicating a more lenient regulatory approach.
As the Trump administration navigates its early days, ongoing market volatility continues to shape sentiments around crypto. Yet, many industry observers urge focus on the developing regulatory landscape in Congress, seeing a potential positive shift for the sector amid uncertainty.
