Vitalik Buterin transferred about $325,000 to DeFi privacy protocol Railgun.

A report suggests Butering moved small amounts of ETH to Railgun over the past six months.

Steven Nerayoff leveraged the development to emphasize his allegations against Ethereum co-founders.

The choice of Ethereum founder Vitalik Buterin to interact with a privacy protocol has sparked reactions from prominent critics such as attorney Steven Nerayoff, an early advisor for Ethereum.

Colin Wu’s media first drew attention to Buterin’s most recent transfer of 100 ETH tokens valued at approximately $325,000 to Railgun, an EVM privacy protocol that enables DeFi private transactions. Furthermore, the report emphasized Buterin’s consistent interaction with Railgun. 

Specifically, the report noted that the Ethereum co-founder has engaged with Railgun over the past six months, regularly transferring small amounts of ETH tokens. It supported this claim with data from market intelligence firm Arkham.

Responding to this revelation, Buterin remarked that “privacy is normal.” He disclosed that  Railgun employs the privacy pools protocol, which significantly raises the barrier for malicious actors to infiltrate the pool without jeopardizing users’ privacy.

Privacy is normal.Railgun uses the privacy pools protocol ( https://t.co/DekkatsMR5 ) which makes it much harder for bad actors to join the pool without compromising users' privacy.https://t.co/MG0huDzpAu

— vitalik.eth (@VitalikButerin) April 15, 2024

Meanwhile, Steven Nerayoff leveraged the development to emphasize his longstanding critical position against Ethereum co-founders. He first pointed out the importance of upholding privacy, truth, and transparency within the industry. 

Furthermore, Nerayoff expressed his curiosity about Buterin’s plans regarding the next phase of Ethereum’s roadmap, “The Purge.” He inquired whether everything after ETH’s migration to proof-of-stake would become permanent while everything preceding it would cease to exist. This query stems from the fact that The Purge entails removing obsolete network data and gradually simplifying the Ethereum infrastructure.

Additionally, Nerayoff questioned whether The Purge is a deliberate attempt to conceal the truth about Ethereum, given Buterin’s ongoing interaction with a privacy protocol like Railgun.In a subsequent tweet, the lawyer declared that he had brought the incriminating allegations against Ethereum and its founders to the forefront. He accused Vitalik of merely brushing off the claims as they did not concern him. Nerayoff asserted that it is now time to demand answers and hold him accountable for the truth that has been unveiled.

The post Ethereum Founder Vitalik Under Fire After Sending $325K to Privacy Protocol appeared first on Coin Edition.

The STEPN x Adidas Genesis Sneakers collection introduces 1000 distinct NFT sneakers

200 NFTs are reserved for loyal users, and 790 are available in a public raffle sale on MOOAR

This collaboration highlights STEPN’s “move-to-earn” focus

Move-and-earn lifestyle app STEPN and Adidas have teamed up to introduce a new collection of non-fungible token (NFT) sneakers. This development marks the commencement of a year-long partnership and presents a fusion of wellness gamification and the renowned sports brand Adidas.

The 1000 STEPN x Adidas Genesis Sneakers, featuring co-branded logos, will be minted on the Solana blockchain, making each pair distinct. Set to launch on Wednesday, April 17, the collection will be available on STEPN’s affiliated NFT marketplace, MOOAR. Each pair will be priced at 10,000 GMT, STEPN’s native token.

Furthermore, this inaugural release is part of the roadmap for subsequent NFT drops and the introduction of physical wearables during the partnership. It also emphasizes STEPN’s dedication to improving the “move-to-earn” sector by democratizing future technology.

Moreover, STEPN’s community-focused approach has propelled its success, boasting over 5 million registered users globally. This collaboration follows a recent airdrop event, where the STEPN community received approximately $30 million in tokens.

Besides, this partnership aligns with STEPN’s broader efforts in “FitTech.” The platform has initiated alliances with personalities like DJ Steve Aoki, the Japanese animation series Ghost in the Shell, and the soccer club Atlético de Madrid.

Shiti Manghani, CEO of STEPN by FSL, commented on this collaboration, stating,

This collaboration between STEPN and Adidas underscores how powerful it is when you can move-and-earn in both the virtual and real world simultaneously. That such a physical and digital – or ‘phygital’ – partnership between the most widely used lifestyle app and a global brand like Adidas are now a reality indicates the direction lifestyle rewards are going.

Starting April 17, distribution unfolds in two phases. Initially, 200 NFTs will be reserved for the most dedicated users. Eligible recipients include holders of ‘ALTS by Adidas NFTs and select members of the broader FSL community, comprising STEPN, MOOAR patrons, and blockchain game Gas Hero participants.

The remaining 790 NFTs will also be available to the public through a raffle sale from April 18 to April 21. Winners will be drawn daily, and redemption will be facilitated on the MOOAR marketplace. Additionally, a strict limit of one NFT per wallet has been imposed to ensure fairness.

Since its launch in 2021, STEPN has experienced remarkable growth, reaching a user base of over five million. The platform integrates Web3 technology with the expansive gaming industry, projected to surpass $522 billion by 2027, and the growing wellness sector.

The post STEPN x Adidas Collaboration Unveils NFT Sneaker Collection appeared first on Coin Edition.

Analyst Crypto Rover raised an alarm about a potential liquidation of $3 billion in the Bitcoin market.

With the observed rising liquidity, the liquidation could trigger against BTC shorts if the asset reclaims $71,900.

At $66,607, BTC only needs to rally 7.94% to regain the $71,900 price point.

Crypto Rover, a notable market analyst, has called attention to a looming potential liquidation of $3 billion in the Bitcoin market. In his latest BTC market analysis, Rover revealed that the asset continues to undergo a significant consolidation phase within the daily timeframe. 

Meanwhile, he observed that although Bitcoin currently trades at the lower end of the range, liquidity is accumulating on the upper side. In parallel, Rover highlighted that over $3 billion worth of Bitcoin short positions are poised for liquidation once Bitcoin reaches the $71,900 mark.

The analyst derived this figure using data from the renowned derivative market tracker CoinGlass. Rover’s warning of an impending $3 billion liquidation coincides with the recent crypto market downturn, during which Bitcoin retraced to the $60K range over the weekend.

The crash wielded substantial consequences for leveraged traders, particularly those with long positions on BTC. For instance, WhaleWire revealed that over $1.2 billion in Bitcoin longs were liquidated on April 13 alone. It noted that the figure marked a new record, as Bitcoin bulls have not faced such liquidation in the past 15 years.

Notably, updated figures from CoinGlass suggest that the crypto market has seen a total liquidation of $236.61 million in the last 24 hours. The most significant single liquidation order was placed on the Bybit exchange for the BTC/USDT pair, valued at $5.65 million.

The liquidation comes amid Bitcoin rebounding to reach as high as $66,607 at press time. This figure marked a 9.37% gain from the weekend dip. Interestingly, at $66,607, BTC only needs to rally 7.94% to regain the $71,900 price point, which would liquidate over $3 billion from Bitcoin shorts, as the analyst suggested.

The post Bitcoin Shorts Facing $3 Billion Liquidation at $71,900, Analyst Warns appeared first on Coin Edition.

ZachXBT has alerted the crypto community of actions involving suspected serial scammers.

The crypto detective identified scammers’ activities on LeaperFinance, ZebraLending, and GloriFinance.

The scammers launched scams on Base, Solana, Scroll, Optimism, Arbitrum, Ethereum, Avalanche, etc.

ZachXBT, a self-designated 2D detective in the cryptocurrency industry, has alerted the crypto community of recent actions involving a suspected set of serial scammers. In a series of posts over the past weekend, ZachXBT noted that the scammers returned to the blockchain ecosystem, defrauding unsuspecting users across various protocols.

Update: Scammer started trolling before deactivating both Leaper Finance & Glori Finance X accounts.All three websites for the projects mentioned are now offline as well. pic.twitter.com/Az1TLZDmMq

— ZachXBT (@zachxbt) April 14, 2024

The on-chain detective initially alerted users on X that the group of scammers who stole eight figures with Magnate, Kokomo, Lendora, Solfire, etc, is back with a new project on Blast as LeaperFinance. According to ZachXBT, the scammers funded an address on Blast with approximately $1 million of laundered funds from the previous rugs and have begun adding liquidity to bait people in. 

Meanwhile, the crypto detective shared traceable details of how the scammers moved funds across various wallets and chains, including ETH bridges and swap deals. He noted that in the past, the group of scammers let the total value locked (TVL) grow to seven figures before stealing all of the users’ funds deposited to the protocol and falsifying KYC documents using low-tier audit firms.

Furthermore, ZachXBT alleged that the same group of scammers is behind ZebraLending on Base. He noted that the product is live, with a $311,000 TVL, and warned users to withdraw any funds they may have deposited on the protocol.

ZachXBT also highlighted that the same group is behind the GloriFinance protocol launched in the Arbitrum network. As of posting, the on-chain detective noted that the protocol had accumulated up to $1.4 million in TVL. Notably, he confirmed that all three scam projects identified are Compound V2 forks.

Providing more evidence, ZachXBT noted that close observation reveals that all the top GLORI holders added liquidity with funds from the Crolend/HashDAO/HellHoundFi scam. He further alleged that the scammers launched scams on Base, Solana, Scroll, Optimism, Arbitrum, Ethereum, Avalanche, etc.

The post Crypto Detective Spots Suspicious Activities From Known Scammers appeared first on Coin Edition.

Tokens could fuel market volatility, impacting the prices of RNDR and other tokens.

RNDR’s recent rally suggests positive sentiment, but conflicting technical signals pose uncertainty.

Daily linear unlocks may pressure token prices downwards, depending on market demand.

Render (RNDR) investors brace themselves for a big thing as almost $7.14 million in tokens are expected to be unlocked. This impending unlock has ignited speculation within the crypto community, prompting questions about whether this will lead to a pump or dump scenario for the RNDR token. The unlock is part of a larger trend in the crypto market where token unlocks can have a substantial impact on price dynamics.

In the next seven days, a total of $386.04 million worth of tokens will be unlocked, with the top three tokens being ARB, AXS, and IMX. Thus, these unlocks implicate a substantial percentage of each token’s total supply, giving rise to fears of market instability. Additionally, linear unlocks occur daily, further adding to the overall token supply entering the market.

Among the tokens experiencing linear unlocks, WLD, SOL, and AVAX are leading the pack in terms of daily unlock value. This gradual release of tokens can exert downward pressure on prices as supply increases over time. However, the extent of this impact depends on various factors, such as market sentiment and demand for the tokens.

Despite the uncertainty surrounding the unlock events, RNDR has seen a notable rally of 18%, with its price reaching $9.28. This surge in price could be attributed to a variety of factors, including positive sentiment within the crypto community and bullish technical signals. The 1-Day Stochastic RSI reading above the signal line suggests a potential bullish signal in the short term, although traders may seek confirmation from other indicators.

Render/USD 1-Day price chart, Source: Trading view

On the other hand, the 1-day MACD trading below the signal line takes the shape of a bearish short-term signal, which shows the conflicting signals in the current market. Furthermore, the 1-day KST trading below the signal line points towards a potential bearish trend in the short term, adding another layer of uncertainty for traders to consider.

The post RNDR Surges 18% Amidst Unlock Speculation – What’s Next? appeared first on Coin Edition.

ENA’s price rose to $1.16, a 3.18% increase in the last 24 hours.

Whale boosts ENA stake, withdrawing 18.12M tokens.

Technical indicators suggest strong ENA buying pressure.

In the last 24 hours, the Ethena (ENA) token has exhibited strong bullish momentum, with its price fluctuating between a daily high of $1.217 and a low of $1.059. As of press time, ENA is trading at $1.16, reflecting a 3.18% increase from the previous day.

ENA/USD 24-Hour Chart (Source: CoinStats )

ENA’s market capitalization also rose by 2.88%, reaching $1.666 billion. Despite this positive price movement, ENA’s trading volume declined significantly, dropping by 32.11% to $912.244 million. This decrease in trading volume suggests a reduction in trading activity.

However, the volume/market cap ratio, which stands at 54.16%, indicates that there remains considerable interest and investment in the ENA token, even amid the recent dip in trading volume.

Whale Increases Stakes in $ENA

The optimistic trend of ENA can be linked to an investor, often termed a “whale,” who has markedly boosted their stake in the digital asset $ENA . According to a spot-on chain tweet, within the past four days, this investor withdrew a total of 18.12 million $ENA tokens from the trading platform Binance. These tokens were valued at approximately $23.9 million, with an average price of roughly $1.32 per token.

The largest $ENA staker further withdrew 6.954M $ENA ($7.99M) from #Binance at ~$1.15 for staking 19hrs ago, despite a severe loss!In the past 4 days, the whale has withdrawn 18.12M $ENA from Binance at ~$1.32 ($23.9M) and staked all tokens via 2 wallets, 0xbba and 0x886.The… https://t.co/u8mK2KSFH8 pic.twitter.com/g20Kbhb4br

— Spot On Chain (@spotonchain) April 15, 2024

The transactions were executed through two specific wallets, identified as 0xbba and 0x886, where all tokens were subsequently staked. Despite a notable drop in value to approximately $1.15 per token, the whale proceeded to withdraw an additional 6.954 million $ENA tokens from Binance, amounting to $7.99 million, and staked these as well. This move suggests a bullish stance on $ENA by the investor, as they continue to increase their stake despite facing potential losses.

Earlier this month, on April 12, this investor’s further activity was observed when they withdrew 11.17 million $ENA tokens ($15.95 million) from Binance at an estimated price of $1.43 each. Half of these tokens, around 5.59 million, were staked with Ethena Labs, making the investor the fourth-largest staker of $ENA . 

ENA Technical Analysis

The ENA token is demonstrating a bullish trend on the 1-hour chart, characterized by strong support and consistent breaching of resistance levels. Presently, the price is targeting the $1.30 resistance zone, with expectations to rally further if this level is surpassed, setting the next resistance objective at $1.46.

Supporting this bullish outlook is the 50-day moving average (MA), which has intersected with ENA’s candlestick patterns to provide short-term support. Additionally, the 78.6% Fibonacci retracement level indicates significant potential support on this level, suggesting a likelihood of continued upward movement. 

Traders are anticipated to seize opportunities to take profits up to the $1.46 level. However, there are risks to consider. Should the price fall below the 50-MA and breach the 2-day trendline, ENA could face a downturn, potentially dropping to test the support level at $0.98.

ENA/USD 1-Hour Chart (Source: TradingView )

From a technical analysis standpoint, the Moving Average Convergence Divergence (MACD) indicator supports the optimistic sentiment, trading at 0.0089 in the positive zone. The MACD line’s vertical ascent over the signal line emphasizes a strong bullish sentiment, suggesting the possibility of further price gains in the short term.

Furthermore, the MACD histogram reinforces this perspective, with bars in the green zone above the zero line. The increasing size of these bars indicates growing buying pressure, which could drive ENA’s price to higher levels soon.

The post Ethena (ENA) Token Rides Bullish Wave Fueled by Whale Stakings appeared first on Coin Edition.

LBBW, Germany’s largest bank, has partnered with Bitpanda to offer crypto custody services starting in mid-2024.

German banks like Deutsche Bank and DZ Bank are exploring the crypto sector while anticipating MiCA regulations.

MiCA’s implementation in December 2024 hinges on ongoing consultations.

Landesbank Baden-Württemberg (LBBW), Germany’s largest bank, is set to partner with Bitpanda, an Austrian exchange platform, to provide crypto custody services. According to reports by Bloomberg, the two firms will start offering this service to institutional and corporate clients in the second half of 2024.

Jürgen Harengel, COO of corporate banking at LBBW, underlined the significant shift in the market, with a surge in interest in digital assets among its corporate customer base. “The demand from our corporate customers for digital assets is increasing,” he stated.

This strategic move by LBBW aligns with the evolving German banking and asset management landscape, where institutions are stepping up to offer crypto-related services. With a substantial €333 billion ($355 billion) in assets under management, LBBW will leverage Bitpanda’s platform to provide custody services. 

In line with regulatory developments, German banks are exploring opportunities in the cryptocurrency sector. For instance, Deutsche Bank has initiated ventures into offering digital asset custody services, partnering with Swiss crypto startup Taurus since September 2023. Likewise, its subsidiary, DWS, is part of a team developing a euro-pegged stablecoin. 

Meanwhile, DZ Bank, the second-largest bank in Germany, announced plans to commence a crypto trading pilot later in 2024. This news followed DZ’s unveiling of its digital asset custody platform in November 2023.

These moves by German banks are in anticipation of the Markets in Crypto-Assets (MiCA) regulatory framework, set to be fully implemented by December 2024. 

In an interview, Vyara Savova, senior policy lead at the European Crypto Initiative, said crypto exchanges will be fully regulated by the end of 2024. Savova mentioned that,

“2024 is the year of MiCA, and the whole EU will now have a comprehensive legal framework for crypto-assets, crypto-asset services, and crypto-asset service providers (also known as CASPs). Crypto exchanges are a type of CASP under MiCA and will become fully regulated in December 2024,”

The MiCA bill is nearing a conclusion, with the second consultation package for reverse solicitation guidelines scheduled to conclude on April 29. The outcome of this consultation will be pivotal in MiCA’s final implementation in December.

“The consultation will determine how exchanges and other CASPs from countries outside the EU might provide services to EU citizens without a license and how these services should be marketed in Europe. The outcomes of this consultation will be critical for MiCA’s implementation in December.”  Savova opined.

The post Germany’s Largest Bank Set to Provide Crypto Custody Solutions appeared first on Coin Edition.

Ethereum price rebounds past $3,150 after a significant dip below $3,000.

A Matrixport-associated wallet withdraws $51.1 million worth of ETH from Binance.

Since March 29, this wallet has withdrawn 67,286 ETH worth $228 million.

In a significant market move, Ethereum (ETH) prices rebounded strongly to surpass the $3,150 mark. This recovery occurred shortly after a dip below $3,000 amid escalating tensions between Israel and Iran. The price increase aligns with large-scale acquisitions by major investors.

Recent data from Etherscan indicates a notable transaction involving the withdrawal of 16,300 ETH from Binance. This transaction, worth approximately $51.1 million, links to a wallet associated with Matrixport. The event took place just 20 minutes before reporting and has added to a series of withdrawals from the same wallet since March 29. To date, this wallet has moved a total of 67,286 ETH, valued at $228.33 million, from exchanges.

The average price for these transactions is $3,393.5 per ETH. Matrixport’s consistent withdrawal pattern may point to strategic market maneuvers. It could indicate an anticipation of higher ETH prices or a move towards greater liquidity management.

In another significant activity, a major Ethereum holder, identified by their wallet address (0xE3477C73E4733D48306A955044E1fAefC649C08F), purchased 1,000 ETH from Binance. Valued at $3.15 million, this acquisition contributes to their total holdings of 8,300 ETH, now worth $25.12 million. These purchases occurred as the market saw a downturn, showcasing a trend of buying during dips.

The behavior of long-term holders also influenced the market dynamics. During the initial price drop from the monthly high of $3,700 on April 8, more than 55,368 ETH were sold. These assets had not moved for at least 180 days and were valued at around $204 million at the time.

However, during a subsequent market dip on April 11, the movement of dormant supplies was considerably lower. Only 31,165 ETH, valued at approximately $101.4 million, were traded. This reduction in selling pressure by long-term investors could support a more stable price environment for Ethereum in the coming days.

As per CoinMarketCap, Ethereum opened the week with a 4.66% increase over the last 24 hours, bringing its price to $3,245. Its market capitalization also rose by over 5% to reach $390 billion. Despite these gains, the trading volume for ETH has seen a significant reduction. It dropped by 31.71% from the previous day, totaling $22,693,856,909.

The post Binance Sees $50M Ethereum Withdrawal: What’s Behind the Move? appeared first on Coin Edition.

Bitvavo, Bithumb, and Bitstamp have received over 452 million XRP from unknown wallets.

The transactions occur amid XRP regaining the $0.5 range with a 6% gain.

The timing of these transactions has fueled speculation of a potential big dump in XRP.

Whale Alert has detected a flurry of XRP movements to exchanges in the past few hours, triggering concerns of bearish sentiment amid recent gains for XRP. Within the past 24 hours, Whale Alert has documented the transfer of 452 million XRP from various undisclosed wallets to major centralized exchanges Bitvavo, Bithumb, and Bitstamp.

The first transfer occurred via Bitstamp, where the exchange received a deposit of 22 million XRP from an undisclosed wallet valued at over $10.8 million. While the Bitstamp deposit occurred last night, a significantly larger movement of XRP has emerged within the past three hours. 

Specifically, the South Korean exchange Bithumb received 390,869,591 XRP from an unidentified wallet at 06:47 UTC today.

🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 390,869,591 #XRP (201,100,740 USD) transferred from unknown wallet to #Bithumbhttps://t.co/IMNZBQEP6D

— Whale Alert (@whale_alert) April 15, 2024

Interestingly, two hours after this notable transfer to Bithumb, the Bitvavo exchange received a total of 40 million XRP in two separate transactions. Similarly, the funds came from undisclosed wallets valued at over $20 million each. 

Collectively, over the last 24 hours, these three exchanges have received 452,869,591 XRP from various sources. These transactions represent a substantial monetary value exceeding $232 million.

These large-scale XRP transactions have elicited mixed reactions from crypto community members, especially since all the sources are labeled “unknown wallets.” Additionally, the timing of these transactions has fueled speculation of a potential massive dump for XRP’s value amid recent gains. 

Notably, in the last 24 hours, XRP has reasserted itself within the $0.5 range with a 6% gain. This resurgence follows a significant setback on Saturday, where XRP experienced a decline of over 21%, plummeting to the $0.43 range. 

Now, amid this recovery, whales are moving XRP to exchange, which has bearish implications for the asset. Meanwhile, upon closer examination using the XRP Explorer Bithomp, minimal insights emerged regarding the entities involved in the XRP transactions.

Regarding the transfer of over 390 million XRP to Bithumb, the explorer indicated that the source wallet belongs to Bithumb, suggesting an internal exchange movement. However, for transactions involving Bitstamp and Bitvavo, the source of the XRP information remains undisclosed.

The post XRP Recovers from $0.43 Dip, But Whales Now Move 452M to Exchanges appeared first on Coin Edition.

Arbitrum will do a “Cliff Unlock” tomorrow, April 16, 2024.

Token Unlock reveals Arbitrum will release 92.65 million ARB into the market.

The upcoming Token Unlock will increase the ARB token supply by 3.49%.

Arbitrum will do a “Cliff Unlock” tomorrow, April 16, 2024, and release fresh ARB tokens into the cryptocurrency market, according to data from the Token Unlock app. Further details from the app show the layer-2 project’s upcoming Token Unlock will claim the lion’s share of tokens to be released into the crypto market this week. 

According to real-time data on the app, this particular Token Unlock will inject approximately $110 million into the crypto market. Arbitrum will unlock 92.65 million ARB, representing 3.49% of the circulating supply. The event will happen exactly one month after the previous Token Unlock, when the project released 1.11 billion ARB, equivalent to $2.09 billion, into the crypto ecosystem.

It is essential to note that Token Unlock highlighted that the upcoming program will be a “Cliff Unlock,” implying a system where no tokens are released initially until a “cliff,” which is the unlock date. The event where projects release lump sums of tokens into the market on the specified release day.

Token Unlocks, like the upcoming event, usually have an economic impact on the crypto market and directly impact the price of the particular token. The exercise increases the token supply, often leading to many traders taking short positions in the short term.

ARB slipped by over 25% after the last Token Unlock event, with the price dropping for four consecutive days. The layer-2 blockchain’s token fell from $1.96 on March 16 to $1.44 as of March 19 before making a rebound, according to data from TradingView.

The layer-2 scalability blockchain solution traded for $1.23 as of writing, recovering from a recent dip. Arbitrum’s community members are anticipating the upcoming event, knowing that the general crypto market dynamics could impact the effect of the exercise.

The post Arbitrum to Release 92.65 Million ARB in Fresh Token Unlock This Week appeared first on Coin Edition.

Solana co-founder Anatoly Yakovenko announces the network’s potential mainnet releases.

As per his announcement, “agave-24-XP” is the next mainnet release on Solana.

MartyParty calls Solana’s decision to name all Solana validator crates as Agave as a bullish activity.

Solana co-founder Anatoly Yakovenko recently hinted at the upcoming mainnet releases of the platform. NT, XP, ME, and Vista are awaiting release in Q1, Q2, Q3, and Q4, with “agave-24-XP” announced as the next release.

Simd to version all solana releases by year, 22, 24, etc. with NT,XP,ME,Vista for a q1,q2,q3,q4 release. So next one would be agave-24-XP https://t.co/5x978ZJgZL

— toly 🇺🇸 (@aeyakovenko) April 14, 2024

Yakovenko’s post came on the heels of a crucial comment posted by the crypto voice MartyParty. Reflecting on Solana’s potential mainnet releases and the platform’s insistence for operators to switch to Agave validator, MartyParty commented that the Solana validator crates are likely to be renamed as Agave.

Source: MartyParty

MartyParty addressed Solana’s move as a “bullish activity,” adding, “More Solana mainnet release schedule updates – looks like all solana-validator crates will be renamed agave-validator with July 1 expected Solana v2.0 release.”

On April 15, Solana Status took to X to share insights on the blockchain’s v1.17.31 release. The platform assured us that the release would be capable of mitigating the ongoing congestion on the Solana Network. The post read,

“The v1.17.31 release is now recommended for general use by MainnetBeta validators. This release contains enhancements which will help alleviate the ongoing congestion on the Solana Network.”

According to previous reports, Solana experienced delayed and failed transactions. While the core cause was connected to QUIC and Agave, the network assured its community of “known solutions” and immediate recovery.

Meanwhile, Solana’s SOL token recovered from its bearish track, exhibiting a notable surge of 6% over the last 24 hours. Though Solana has signaled reaching its all-time high of $259, it retreated from above $200 to $132. At present, Solana has set its price at $148.96, with a weekly decline of 15% and a monthly decline of 19% despite recent surges.

The post How Does Solana’s Mainnet Launch Impact Ongoing Congestions? appeared first on Coin Edition.

Bitcoin experienced heavy selloffs in the last days following Iran’s attack on Israel.

Peter Schiff comments on US investors’ helplessness in liquidating crypto if the market crashes overnight.

Schiff posits that investments in actual Bitcoin are much better than investing in Bitcoin ETFs.

Bitcoin experienced a heavy selloff last day following Iran’s missile and drone attack on Israel. Highlighting the seriousness of the matter, American stockbroker Peter Schiff shared insights on Bitcoin’s limitations that pose high risk to investors.

As I warned if #Bitcoin starts selling off tonight, #BitcoinETF owners can do nothing but watch and wait until the NYSE opens tomorrow morning. In the meantime it will be a long night hoping that Bitcoin doesn't crash before they have a chance to sell. https://t.co/GfLtl6Wc1S

— Peter Schiff (@PeterSchiff) April 14, 2024

Iran’s recent attack on Israel with 170 drones, 30+ cruise missiles, and 120+ ballistic missiles into Israel has significantly impacted the crypto economy. Reports stated that the days following the Iranian attack saw the highest liquidations in 6 months, marking $1.5 billion in crypto liquidations.

Reportedly, Bitcoin dipped by about 8% on Saturday evening from a significant high of around $70,000 when the attack’s news broke out. By Sunday morning, Bitcoin recovered slightly, surging above $64,000. At press time, Bitcoin is trading at $65,319, marking a moderate increase of 3.29% in the last day. However, Bitcoin has declined by over 5% over the last 7 days and above 4% over the last 30 days.

Commenting on the high selloff and the US investors’ helplessness to liquidate the crypto at night, Schiff stated,

“As I warned, if Bitcoin starts selling off tonight, Bitcoin ETF owners can do nothing but watch and wait until the NYSE opens tomorrow morning. In the meantime, it will be a long night hoping that Bitcoin doesn’t crash before they have a chance to sell.”

Further, Schiff commented on the investors’ choice to buy actual Bitcoins and Bitcoin ETFs. He posited that the choice of buying actual Bitcoins is “much better” than investing in Bitcoin ETFs.

On March 20, Schiff shared an X post on the same issue. His points revolve around the fact that investors can do nothing if the crypto market crashes overnight but must wait till morning for the US trading market to open. He wrote, “Very frustrating to watch helplessly with no ability to get out.”

The post What Happens If Crypto Market Crashes Overnight? Can Investors Liquidate? appeared first on Coin Edition.

MicroStrategy chairman Michael Saylor argues that chaos is good for Bitcoin.

BTC crashed to around $60K amid escalating tensions between Iran and Israel.

MicroStrategy lost over $1.5 billion in the last 24 hours following the crash.

Michael Saylor, the founder and chairman of MicroStrategy, has expressed his view that “chaos is good for Bitcoin.” Saylor shared this perspective in a post on X on Saturday as Bitcoin crashed to the $60K threshold.

Chaos is good for #Bitcoin.

— Michael Saylor⚡️ (@saylor) April 13, 2024

Notably, Bitcoin collapsed by over 10% in the last 24 hours from about $68K, sinking to the $60K range. Pundits have attributed the dramatic fall to the escalating global tensions, particularly those between Iran and Israel.

Bitcoin’s decline has had significant implications for leverage traders, especially those who opened long positions for BTC. According to WhaleWire, over $1.2 billion in Bitcoin longs alone were liquidated over the last 24 hours. WhaleWire estimated that the number set a new record as Bitcoin bulls have not experienced such liquidation in the last 15 years.

Despite this significant financial implication, MicroStrategy’s chairman believes this development brought by the political chaos is good for Bitcoin. Meanwhile, MicroStrategy has also taken a significant hit from the market turmoil. 

With a portfolio of 214,245 BTC, MicroStrategy experienced a loss of over $1.5 billion in the last 24 hours, considering BTC’s intraday high and low of $67,900 and $60,900, respectively. Nonetheless, the Bitcoin whale still commands a staggering profit of over $6.26 billion, considering its average BTC purchase price is $35,372. The firm is only witnessing losses in its two most recent Bitcoin purchases, which were above $67K.

Meanwhile, crypto market participants have challenged Saylor’s choice of words amid the escalating global conflict. Some consider it insensitive to the border context of the situation. Siding with Saylor’s view, another X user remarked, “Bitcoin is a hedge against chaos.”

The post MicroStrategy’s Michael Saylor Says ‘Chaos is Good for Bitcoin’ Despite $1.5B Loss appeared first on Coin Edition.

ZachXBT cautions the crypto community against LeaperFinance, a project launched on Blast Network.

The sleuth claims that the project is launched by a group of scammers who stole millions from Magnate, Kokomo, Lendora, and Solfire thefts.

In another post, ZachXBT warns against ZebraLending, a project launched on Base Network.

Crypto sleuth ZachXBT has cautioned the crypto community against LeaperFinance, a project recently launched on Blast Network. ZachXBT warned that the project is launched by a group of scammers who “stole 8 figs with Magnate, Kokomo, Lendora, Solfire” etc.

Community Alert: The group of scammers who stole 8 figs with Magnate, Kokomo, Lendora, Solfire, etc is back with a new project on Blast @Leaperfinance Last week they funded an address on Blast with ~$1M of laundered funds from the previous rugs and have begun adding liquidity… pic.twitter.com/yqRKvZuuye

— ZachXBT (@zachxbt) April 14, 2024

Adding more insights into the matter, ZachXBT asserted that LeaperFinance has funded a Blast address with $1 million of the funds they laundered from the previous thefts. As per ZachXBT’s claims, LeaperFinance has begun adding liquidity to attract investors. Additionally, ZachXBT provided a clear picture of the movement of the funds, tracking the addresses involved in the transaction.

Further, the sleuth stated that the scammers manipulated the total value locked (TVL) to grow to 7 figures before the user funds theft. In addition, they have also falsified the KYC documents and used low-tier audit firms. Cautioning the community against the group’s further moves, ZachXBT alarmed, “They now have launched scams on Base, Solana, Scroll, Optimism, Arbitrum, Ethereum, Avalanche, etc.”

In a subsequent X post, ZachXBT warned the community of a possible scam involved in Base Network’s ZebraLending, which currently boasts a TVL of $311K. The researcher advised investors to withdraw their assets immediately.  

Update: Same scammers are also likely behind @ZebraLending on Base which is currently live with $311K TVLWithdraw your assets immediately if you have funds deposited in this protocol.Tracing: 1) 0x085 transfers 30 wETH to 0x9f8 on Base… pic.twitter.com/Hv0v70azA7

— ZachXBT (@zachxbt) April 14, 2024

Crypto sleuth Scam Sniffer’s previous report unveiled the increase in crypto scams and a grave loss of $47 million in phishing scams in February 2024 alone. Addressing the increasing crypto scams and exploits, Google has moved forward filing a lawsuit against the scammers who were allegedly responsible for defrauding over 100,000 crypto users.

The post Are Scammers Behind the Launch of LeaperFinance on Blast? Sleuth Explains appeared first on Coin Edition.

Crypto prices crashed on Saturday following reports of an impending attack on Israel by Iran.

The Israeli military said on Saturday that Iran launched dozens of drones toward the country.

Total crypto market capitalization dropped from around $2.45 trillion to below $2.20 trillion.

Crypto prices crashed on Saturday following reports of an impending attack on Israel by Iran. Bitcoin fell by 9.63% to $61,308 after reaching nearly $68,000 earlier in the day. Bitcoin’s drop dragged other cryptocurrencies lower, with Ethereum falling to $2,845, reflecting a 13.5% pullback in a couple of hours.

The Israeli military said on Saturday that Iran had launched dozens of drones toward the country in an impending attack. The actions by Iran have attracted reactions from across the world, especially the World powers from the West.

Following the development, U.S. President Joe Biden said the U.S. helped Israel shoot down incoming drones and missiles, and reaffirmed “America’s ironclad commitment” to Israel’s security. President Biden further noted that he would coordinate a response by Group of Seven nation leaders and remain vigilant to threats.

Saturday’s development triggered a massive crypto selloff, with the overall crypto market’s value dropping by 8%. The total crypto market capitalization dropped from around $2.45 trillion to below $2.20 trillion within a few hours, according to data from CoinmarketCap.

Although Bitcoin and Ethereum led the crypto market pullback, some other top altcoins experienced more significant declines. For instance, SOL, the native crypto of the Solana blockchain dropped by over 20%, while BNB, the Binance ecosystem token declined by over 13%.

The impact of the impending attack by Iran reflected on the never-closing crypto market. However, its effect on traditional assets remains unknown, considering those markets remain closed over the weekend. 

Many users anticipate the traditional market to react similarly to the crypto market when trading resumes on Monday. However, the situation remains dynamic as geopolitical events in the Middle East continue to evolve.

The post Crypto Market Experience Significant Pullback Following Iran’s Attack on Israel appeared first on Coin Edition.

Bitcoin tanked to about $60,900 from about $68K, shredding above 10.3% within the past day.

Solana, XRP, and ADA witnessed more substantial losses that exceeded 20%.

Mike Novogratz said following the recent risk flush, Bitcoin will resume its trend higher.

The crypto market witnessed a bloodbath within the last 24 hours, with Bitcoin tanking to about $60,900 from the intraday high of $67,900. While the $7,000 BTC shredded amounted to a 10.3% decline, the broader market witnessed more staggering losses. 

In particular, cryptocurrencies like Solana (SOL), XRP, and Cardano (ADA) have witnessed more substantial losses exceeding 20% as Bitcoin retested the $60K threshold. This unexpected bearish market condition has sparked various speculations about its cause by the crypto community.

Notably, the prevailing view suggests that the market tanked in response to the growing global conflict, particularly between Iran and Israel. Billionaire Bitcoin investor Mike Novogratz, CEO of Galaxy, expressed this view in a recent post on X.

Novogratz emphasized that wars have significant monetary and economic implications. He expressed sadness about the current outbreak and urged global leaders to prevail on the situation. 

While the billionaire investor sincerely hopes the global conflict does not escalate further, he voiced optimism about Bitcoin’s capacity for a significant rebound. In particular, Novogratz stated that following the recent “risk flush” from the crypto market, Bitcoin “will resume its trend higher.”

Wars cost $$$…. Praying we don’t get a bigger one but after the risk flush, $BTC will resume its trend higher. I pray cool heads prevail and this is not the start of a major regional conflict. There are so many good things going on in the mid east, it’s just tragic that…

— Mike Novogratz (@novogratz) April 13, 2024

Crypto investor Mike Alfred expressed agreement with Novogratz’s view, acknowledging the possibility of Bitcoin’s rebound. Within the last few hours, BTC has experienced a notable price recovery, rebounding to above $65K following the retest of the $60K threshold.

In a separate conversation, Alfred narrated the case of an investor who hastily sold his Bitcoin at $61,600 amid the crash. Per the revelation, the individual considered Iran to be “very serious about destroying Israel,” projecting a potential global nuclear warfare. So, he sold his Bitcoin. However, with BTC rebounding to $65,000, the investor finds himself once again in a state of anxiety.

The post After $60K Crash, BTC ‘Will Resume its Trend Higher,’ Says Mike Novogratz  appeared first on Coin Edition.

XRP sees a sharp 21% decline, revisiting the $0.4 range amid market instability.

XRP’s latest retest of the $0.4 range contradicts popular analysts’ bullish projections of $1.

While analysts continue to project $5 and $10 targets for XRP, the asset has yet to show any signs of impressive movement.

In the last 24 hours, XRP collapsed to a low of $0.4336 from the $0.6 range in the past week. Notably, the last time XRP was seen at $0.4336 was May 2023, particularly before the asset secured a legal victory against the U.S. securities regulator.

Since commencing the downtrend following the victory frenzy, the asset continued to establish lower lows, now sinking to thresholds last seen a year ago. Emphatically, XRP’s descent from $0.5483 to $0.4336 represents an approximately 21% price crash within the last 24 hours. 

This significant price plummet followed Iran’s widely reported attack on Israel’s military base. Selling pressure surfaced as some market participants believed the event would spark nuclear warfare, prompting them to liquidate their Bitcoin holdings. Crypto investor Mike Alfred recently narrated the case of an investor who hastily sold his Bitcoin at $61,600 amid the reports of Iran’s attack, fearing a potential global nuclear warfare. 

I know a guy who sold all his Bitcoin at $61,666 because Iran was apparently “very serious” about destroying Israel this time and that global nuclear warfare was “inevitable”. Now he’s in a state of panic as BTC has bounced back to $65,000 and he doesn’t know what to do. Scary.

— Mike Alfred (@mikealfred) April 13, 2024

While Bitcoin later tanked to the $60K threshold all the way from about $68K in the last 24 hours, the asset has rebounded to $65,000. However, Bitcoin’s response to the global conflict impacts the broader market, with assets like XRP taking a significant hit. 

Interestingly, XRP’s latest retest of the $0.4 range further contradicts the bullish projections of analysts like Tylie Eric. He confidently predicted that XRP would rally 60% to $1 this month. 

Eric made this assertion on March 29, giving a nine-day window for his prediction to come true. This assertion strongly implied that XRP was expected to reach $1 by April 7, a prediction that ultimately did not come to fruition.

Nevertheless, despite the optimism of other prominent analysts who project $5 and $10 targets for XRP during this bullish season, the asset has yet to show any signs of impressive movement.

The post XRP Tanks 21% to Retest $0.4, Challenging Analysts Bullish Forecasts of $1, $5 appeared first on Coin Edition.

Michael Egorov reportedly faced the liquidation of his lending positions as CRV’s price dropped significantly.

Egorov mortgaged 371m CRV through five addresses on six lending platforms.

CRV fell to a new low of $0.3598 after breaking below its previous low of $0.3864.

Curve founder Michael Egorov reportedly faced the liquidation of his lending positions as the project’s native crypto, CRV, dropped significantly. According to Colin Wu, the famous Asian blockchain and crypto journalist, Egorov mortgaged 371m CRV, approximately $156 million, through five addresses on six lending platforms to borrow $92.54m in stablecoins. He noted that the mortgage’s health rate has dropped to around 1.1.

Curve founder Michael Egorov also faced liquidation of his lending positions as CRV fell to $0.42. Michael mortgaged a total of 371m CRV (approximately $156 million) through 5 addresses on 6 lending platforms to borrow $92.54m in stablecoins. The health rate has dropped to around…

— Wu Blockchain (@WuBlockchain) April 14, 2024

CRV crashed following a recent pullback in the overall crypto market. The decentralized exchange’s token fell to a new low after breaking below its previous lowest price of $0.3864, which it achieved on September 13, 2023. With the latest drop, CRV has recorded a new low at $0.3598.

According to reports, Egorov has five addresses that have pledged 371 million CRV, equivalent to $156 million, cumulatively on six lending platforms and lent out $92.54 million in stablecoins. Following the recent price crash, the Curve founder’s positions on the various platforms have slumped into the danger zone, threatening liquidation unless there is a margin call or repayment.

Egorov sold 159.4 million CRV to 33 investors and institutions in an over-the-counter (OTC) transaction last August. He received 63.76 million U stablecoins to repay the loan to avoid liquidation caused by the decline in CRV prices. As of then, CRV traded for $0.4.

The recent CRV crash has put Egorov in a tight position, leaving him no choice but to make some critical decisions. The DEX founder would either continue to sell CRV OTC to repay the loan, transfer part of the previously borrowed stablecoins back to repay the loan, or do nothing and bet that the market will not continue to fall.

As of the time of writing, CRV had bounced off the recently achieved low, trading for $0.4468, according to data from TradingView.

The post CRV’s Latest Crash Threatens Curve Founder’s Lending Positions With Liquidation appeared first on Coin Edition.

Bitcoin fell by nearly 8% following Iran’s missile and drone attack on Israel.

Other cryptocurrencies like Ethereum, Solana, and Binance Coin have also plummeted following the issue.

Friday and Saturday marked the heaviest liquidations in 6 months with $1.5 billion crypto liquidated.

Bitcoin dipped by about 8% following Iran’s unprecedented drone and missile attack on Israel. According to a recent Bloomberg report, Bitcoin’s decline marked the biggest retreat since March 2023.

Iran’s move came in retaliation for a deadly attack in Syria that killed top military officers of Iran. With the recent attack, the prolonged regional war has been taken into another dangerous phase. Reportedly, Iran launched 170 drones, 30+ cruise missiles, and 120+ ballistic missiles into Israel.

Consequently, Bitcoin fell below $62K, marking a steep decline of 7.7%. Not only Bitcoin, but other major cryptocurrencies also were impacted by the Iran-Israel war. While Ethereum experienced a fall of 7%, Binance Coin fell by 9%. Meanwhile, Solana marked a significant plummet of 12% in 24 hours and more than 22% in 7 days.

However, following an X post from an account connected to Iran’s Permanent Mission to the United Nations, that signaled the attack’s end, the cryptocurrencies started recovering. The message read,

The matter can be deemed concluded. However, should the Israeli regime make another mistake, Iran’s response will be considerably more severe. It is a conflict between Iran and the rogue Israeli regime, from which the U.S. MUST STAY AWAY!

The Bloomberg report hinted at further continuation of the crypto selloff. Zaheer Ebtikar, founder of the crypto fund Split Capital, stated that the crypto selloff is “probably contingent on further escalation. He added, “People will really look for what markets will look like on Monday.” The report also stated that Friday and Saturday saw the heaviest liquidations in 6 months, with $1.5 billion crypto liquidated.

At press time, Bitcoin has recovered from its severe fall to $64,003, marking a decline of 5.63% in one day, 7.28% in one week, and 11.75% in one month. The 24-hour trading volume of Bitcoin at $58,000,479,565 has marked a substantial increase of more than 21%.

The post Crypto Market Plummets After Iran’s Attack on Israel: Bitcoin Dips 8% appeared first on Coin Edition.

BitMEX founder Arthur Hayes has unveiled a risk radar chart for Ethena’s USDe.

It covers crucial metrics such as USDe Peg Monitor, sUSDe price performance, and USDe DEX liquidity.

This effort comes amid increased scrutiny of USDe sustainability, as Ethena offers a 37% yield for stakers.

Arthur Hayes, the founder of the BitMEX exchange, recently presented a risk radar chart for Ethena Labs’ USDe stablecoin with on-chain provided by intelligence platform IntoTheBlock. In a recent post on X, Colin Wu’s team called attention to this development.

Arthur Hayes shared the Ethena on-chain risk radar chart produced by intotheblock, including USDe Peg Monitor, sUSDe Price Performance, USDe DEX Liquidity, USDe Price Deviation By Protocol/Pool, Volatility Distribution, Curve Pool Asset Distribution, DEX Exit Fee Simulation, DEX…

— Wu Blockchain (@WuBlockchain) April 13, 2024

The comprehensive chart offers a multifaceted view of USDe stability and performance. It covers crucial metrics such as USDe Peg Monitor, sUSDe Price Performance, and USDe DEX Liquidity.

The radar chart also features analyses of USDe price deviation by protocol or pool, volatility distribution, and curve pool asset distribution. Additionally, it tracks DEX exit fee simulation and DEX pool concentration. 

Moreover, the radar chart illuminates critical aspects like USDe and stETH Market Depth, offering valuable insights for traders and investors navigating the Ethena ecosystem.

Notably, this effort comes amid increased scrutiny of Ethena’s USDe sustainability, as the protocol offers a staggering 37% yield for stakers. Ethena’s strategy involves capitalizing on price differentials between spot and futures markets, proving especially lucrative amid surging token prices and escalating funding rates.

Industry pundits like Ki Young Ju have expressed concerns that Ethena’s strategy could survive in a bull market but are unsure of its stability in a bear market. This skepticism arises amid comparisons to Terra Luna’s UST, whose enticing rates later led to its collapse in 2022.

At press time, USDe’s cap has reached over $2.39 billion, up by over 400% from under $350 million in late February. In March alone, Ethena boasted revenue that surpassed an impressive $25 million.

The post Real-time Risk Monitor for Ethena USDe Stablecoin Now Live appeared first on Coin Edition.