Over Foundation said on April 28 it has shut down all Over Protocol infrastructure and services due to financial constraints, with no plans to restore operations. The closure covers OverWallet, OverNode, OverFlex, RPC nodes, the block explorer, and related APIs. Over Protocol is a decentralized Layer 1 mainnet, but the foundation's exit raises questions about the network's practical viability. Ongoing block production will hinge on whether independent validators continue running the open-source client, something the foundation said it cannot guarantee. The foundation said the project was created to let everyday users participate in building a Layer 1 network. It thanked the community for its support and said it regrets being unable to continue.

Coinbase is set to list Virtuals Protocol (VIRTUAL) for spot trading on April 29, according to BlockBeats. The exchange said the VIRTUALUSD pair is expected to go live at or after 9:00 a.m. Pacific Time, subject to liquidity conditions and trading support.

Saturn (@Saturn_credit), a digital credit protocol backed by Michael Saylor, has topped $100 million in total value locked (TVL) just 20 days after launch. The platform offers DeFi-powered credit to eligible participants globally, excluding users in the United States and European Union due to regulatory constraints. Onchain data shows inflows are being fueled by demand for variable-yield credit products that function independently of traditional banking hours. While returns are not guaranteed, the speed of liquidity accumulation is positioning Saturn as a notable infrastructure layer for onchain private debt.

DeFi United, a coalition of blockchain projects and crypto community members, has published a detailed recovery proposal aimed at restoring rsETH’s backing after this month’s Kelp DAO hack created an estimated $300 million shortfall and rattled DeFi lending markets. The plan, shared via Aave’s official X account, outlines a coordinated remediation that relies heavily on Aave’s infrastructure to unwind tainted positions and stabilize affected protocols. The exploit dates to April 18, when an attacker abused a vulnerability in rsETH’s bridge. By forging a message that appeared valid, the attacker caused the Ethereum-side system to release 116,500 rsETH as if funds had been transferred when they had not, effectively minting unbacked rsETH. Those tokens were then distributed across multiple wallets and deployed throughout DeFi, with a sizeable share used as collateral on Aave and other lending venues. That exposure turned the incident into a broader market issue, leaving lending protocols temporarily holding collateral that was not fully backed. DeFi United says most of the impacted assets remain active. Around 107,000 of the 116,500 rsETH are still locked in open positions across Aave and Compound. The proposal targets two parallel objectives: recapitalizing rsETH and dismantling loans created using the unbacked tokens. On recapitalization, the group says it has secured sufficient ETH commitments to fully re-collateralize rsETH. The plan would inject that ETH in stages, convert it into rsETH, and redeposit it so rsETH returns to full backing. In lending markets, the proposal calls for a controlled unwind of the attacker-linked positions on Aave—loans backed by rsETH that should not have existed. Rather than allowing disorderly liquidations, the plan proposes temporary adjustments to how rsETH is valued within the system to enable smoother liquidation or closure of the compromised positions. As the unwind proceeds, recoverable underlying assets such as ETH would be reclaimed. DeFi United estimates the approach could release roughly 13,000 ETH from Aave alone. Once recovered, that collateral would be converted into ETH and applied to cover the deficit created by the exploit. Execution depends on governance approvals across multiple chains, the successful deployment of pledged funds, and an orderly unwind process. Even so, the proposal signals a more coordinated response than is typical in past DeFi incidents. The stated objective is to ensure “rsETH backing is fully restored, and all affected markets are stabilized.”

Odaily Planet Daily reported that Onchain Lens data show a Matrixport-linked whale, with more than $59 million in profits, opened a 30,000 ETH long position with 15x leverage in the past hour, valued at $68 million. The whale now holds 58,000 ETH in long exposure across three addresses (0xa5B0...1D41, 0xfd42...3d97, 0x6c85...84f6), using 15x to 20x leverage, for a combined position value of $131.82 million.

Onchain analyst Onchain Lens (@OnchainLens) reported that a Matrixport-linked whale that has already realized more than $59 million in profits returned to the market within the past hour, opening a new 30,000 ETH long position with 15x leverage, valued at about $68 million. The whale now holds a combined 58,000 ETH in long positions across three wallets, using 15x to 20x leverage, with a total notional value of roughly $132 million.

PI changed hands around $0.1893 on April 28, up about 5.8% over 24 hours and more than 10% on the week, as markets digested the completion of Protocol 22. The move has drawn fresh attention during a key technical transition, though PI remains well below its February 2025 high of $2.99, keeping the rebound in rebuilding territory rather than a full-blown rally. Protocol 22 was finalized on April 27, delivering a mainnet upgrade aimed at improved scalability, higher transaction throughput, and stronger readiness for decentralized applications. More than 10 billion PI have migrated to Mainnet, while roughly 6 billion are still locked. That restricted liquid supply is helping curb near-term sell pressure and keeping the spotlight on utility-driven growth. Node operators have been told to upgrade to Protocol 22 by today, according to a widely circulated post, as the network positions for Protocol 23 in May. Attention is increasingly shifting to Protocol 23 as the next potential catalyst. The update is expected to introduce smart contracts and expand decentralized finance and cross-chain capabilities, giving developers more room to build within the Pi ecosystem. Technically, traders are tracking a developing double-bottom breakout setup, with a neckline near $0.190. PI is trading above its 10-day, 20-day, 50-day, and 100-day exponential moving averages. The 14-day RSI sits near 63.96, suggesting momentum is improving without flashing immediate overbought conditions, while the weekly RSI near 36.01 points to an ongoing recovery from earlier weakness. Key support is seen at $0.1832. A sustained move above $0.190 would shift focus to upside targets at $0.2045 and then $0.220. A break below support would raise the risk of a faster downside move.

ChainCatcher reports that Onchain Lens data shows a Matrixport-linked whale that has realized more than $59 million in profits opened a 30,000 ETH long position over the past hour, using 15x leverage, valued at about $68 million. The whale now holds 58,000 ETH in long positions across three addresses (0xa5B0...1D41, 0xfd42...3d97, 0x6c85...84f6), with leverage ranging from 15x to 20x. Total position value stands at $131.82 million.

Fidelity has transferred 19,934 ETH—valued at about $45.29 million—to Coinbase, as institutional wallet flows pick up. Arkham Intel onchain data shows the move took place within the past 30 minutes, with the funds shifting from cold storage to the exchange's liquid reserves. The inflow comes as institutional desks rebalance liquidity tied to spot ETH ETFs and client redemption activity. Source: Lookonchain