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Total crypto assets held steady. That total worldwide pile, as of 7:03 a.m. (EST), stood at roughly $2.8 trillion, or about the level seen one month ago. Tariffs and recession talk are still in the news this morning. But were it to be the case that the macroeconomic yoke should somehow get lifted, industry luminaries theorize, crypto seems lined up for a spring-loaded wagon ride.

Already, Solana is off traipsing about again. SOL has gained 21% in the past week as it reclaimed $130 after sinking below $100 on April 7.

"Support around $120 remains firm," CoinDesk said, citing technical analysis and pointing out growing optimism about SOL ETFs coming down the pipe.

Actually, they've just arrived. A leading Canadian regulator, the Ontario Securities Commission, yesterday approved a slew of spot SOL ETFs, the first such products of their kind, per Bloomberg's ETF analyst, Eric Balchunas, referencing a note from TD Bank.

Increasing volume and tightening trading ranges could be a harbinger of a near-term breakout for SOL to perhaps $145, CoinDesk said.

And then there is XRP, simpatico with SOL in terms of being poised to benefit from an expanding lineup of spot ETFs. XRP has climbed back above $2 on a gain of 14% in the past seven days. Support is there at $2, reinforced by the 50-hour moving average.

While XRP and SOL each are flat over 24 hours, as if waiting for Bitcoin to take the lead, Kaspa (KAS) has gained 4% in the past 24 hours. Story (IP) and Fartcoin (FARTCOIN) aren't waiting around, either, as each gained 5%. FARTCOIN's surge — up 60% in one week as it claims CoinGecko's No. 90 spot — seems like harbinger of a pent-up "meme on" rally (99Bitcoins).

As king-of-all-cryptos Bitcoin loiters near $85.5K, sporting a speck of green notched overnight, Ethereum has slipped into the red. ETH fell 2.6% to hit $1,630.

Likewise, Dogecoin (DOGE) and Hedera (HBAR) each lost about 3% in the past day. Although both are slightly green over the past week.

Among Tuesday's biggest losers is, not surprisingly, Mantra (OM) which shed about 6% in the past 24 hours. Put another way, OM's shriveled shell of its former self rolled over in its sick bed and coughed up half-a-napkin's worth of red spittle. OM's utter implosion on Sunday represents a chilling blow to a crypto community still trying to figure out how a major project's token could plummet by 95%, wiping out more than $5B in value in the time it takes to eat a bowl of cereal.

"The OM incident is a wake-up call for the entire industry," said Dr. Altcoin. "Proof that stricter regulations are urgently needed."

According to Alice Liu, head of research for CoinMarketCap, writing for Forbes, underlying fragility in the market for OM tokens had been building for several months.

Allegedly, MANTRA’s team exercised "extreme control over OM’s supply," with, she wrote, up to 90% of tokens held in a single wallet. This left only 10–20% of the total supply circulating freely, making the token "acutely vulnerable," Liu concludes.

It's a familiar story. Bitcoin meets a risk-on cycle. BTC and risk-on fall in love. But then markets go risk off. And BTC gets crushed.

This time around, BTC is acting differently, Bitwise CIO Matt Hougan points out. Meaning that BTC staying flat over the past month of macroeconomic turmoil is a noteworthy departure from past pullbacks marked by BTC falling hard, and faring worse than stocks.

Ever since BTC crossed the $1 mark (way back in 2011), it has "never outperformed the stock market during a full-on market correction," Hougan tells The Block. "This time, I think it stands a chance."

That would be especially true if macro obstacles fall away, he added.