Market Updates: Bitcoin Exchange Net Inflows Hit 30-Day High, LayerZero Pledges $23M to DeFi Recovery After Kelp DAO Exploit, Sam Bankman-Fried Denied New Trial in U.S. Court

Latest Market Updates: As of 29th April 2026.

Crypto markets are showing mixed momentum today, with Bitcoin facing resistance as on-chain data suggests rising selling pressure from large holders. 

Meanwhile, the DeFi sector is responding to a major exploit, legal pressure continues for former FTX CEO Sam Bankman-Fried, and Canada signals a tougher stance on crypto regulation.

Bitcoin Faces Resistance as Exchange Inflows Surge

Bitcoin is facing renewed selling pressure as large holders move significant amounts of BTC onto exchanges.

According to CryptoQuant analyst Woominkyu, net inflows reached 9,905 BTC on April 27, the highest daily level in a month. This spike comes as Bitcoin continues to struggle near the $78,000 resistance zone, where upward momentum has stalled despite recent consolidation.

Supporting this bearish signal, the Exchange Whale Ratio rose to 0.707 on the same day. This means that the top 10 inflow transactions accounted for over 70% of all exchange deposits. This concentration is a strong indication that large holders are actively positioning for distribution.

In addition, exchange reserves are also trending upward. Holdings increased from 2.666 million BTC on April 25 to 2.677 million BTC by April 28, a pattern often interpreted as rising potential sell-side pressure.

Collectively, these indicators suggest weakening demand absorption. Woominkyu warned that if inflows continue to outweigh buying pressure, Bitcoin could retest the $74,000–$75,000 support range in the near term.

As of writing, Bitcoin is trading at $77,152, down 0.7% over the past 24 hours.

LayerZero Pledges $23M to DeFi Recovery After Major Exploit

In the DeFi sector, LayerZero Labs has committed significant resources to a recovery effort following a major exploit affecting Kelp DAO.

The firm has pledged over 10,000 ETH, worth approximately $23 million, to an Aave-led recovery initiative. Specifically, half of the amount (5,000 ETH) will be donated directly. Meanwhile, the remaining 5,000 ETH will be used to support liquidity on Aave.

The response follows a $292 million exploit on April 18 involving a sophisticated RPC poisoning attack that compromised LayerZero’s verification system. Attackers exploited the vulnerability to forge cross-chain messages, resulting in the minting of unbacked rsETH on Ethereum.

Roughly 107,000 rsETH were subsequently deposited into Aave lending positions, creating a significant bad debt burden for the protocol.

Alongside its financial commitment, LayerZero also plans to improve liquidity support for GHO, Aave’s native stablecoin. In addition, it will collaborate with Aave and other DeFi players on refining omnichain token standards for lending infrastructure.

U.S. Court Rejects Bankman-Fried’s Bid for New Trial

In legal developments, former FTX CEO Sam Bankman-Fried has been denied a retrial by a federal court in New York.

Bankman-Fried is currently serving a 25-year sentence for his role in the collapse of FTX. He had argued that newly identified witnesses could provide testimony in his defense.

However, Judge Lewis Kaplan rejected the request, ruling that the witnesses were already known before the original trial. He added that the defense had not attempted to secure their testimony at the time.

The court also found no indication that the witnesses would support claims regarding FTX’s solvency or full customer repayment. Kaplan further noted that the motion appeared aimed at rehabilitating Bankman-Fried’s public reputation following the exchange’s bankruptcy.

Canada Proposes Ban on Crypto ATMs Amid Fraud Concerns

In regulatory news, Canada is considering a ban on crypto ATMs as part of its Spring Economic Update 2026.

Specifically, officials argue that these kiosks have increasingly been linked to fraud and money laundering, describing them as a frequent tool for illicit financial activity rather than legitimate consumer use.

If approved, the ban would remove standalone crypto ATMs from public locations such as malls, gas stations, and retail stores. However, Canadians would still be able to purchase crypto through regulated money service businesses.

The proposal marks a notable shift for a country that once played a pioneering role in ATM-based crypto adoption, including hosting the world’s first Bitcoin ATM in Vancouver in 2013.