Ethereum and BNB chain bridge Router Protocol just closed an oversubscribed funding round to extend the bridge to more networks.
Router Protocol, a modular cross-chain framework for building interoperable applications. By connecting different blockchain ecosystems, bridges play a crucial role in creating a more cohesive and streamlined network.
It was launched in 2022 on the Polygon and BSC chains with the objective of making life easier for future Web3 users.
Router Protocol said in a press release that it has recently raised more than expected funds for further development—but didn't disclose exactly how much. The investment realized from this raise will be used to fuel its own fully operational layer 1 blockchain, thus breaking away from the Binance and Polygon ecosystem.
“Router Chain embodies the evolution of our unwavering vision to build the universal interconnectivity layer between fragmented L1/L2 networks,” Ramani Ramachandran, CEO of Router Protocol, said in a press release.
The goal, he added, is to do away with complexity.
The team is “laser-focused on delivering seamless and intuitive user and developer experience for multi-chain applications,” he added.
According to Shubham Singh, the CTO of Router Protocol, the ecosystem has experienced tremendous growth with cross-chain projects like FolioX and StakeEase, which have decided to take advantage of the Protocol’s unique characteristics to make a name for themselves.
In another development, Router Protocol has achieved a significant milestone with the successful launch of Router Nitro. This cross-chain bridge leverages an innovative reverse-verification method to deliver speed and gas efficiency.
Since its launch, the Nitro bridge has facilitated over $350 million in volume, processed more than 650,000 transactions, and attracted nearly 300,000 unique users within four months.
This underscores the growing demand for seamless cross-chain interactions.
The Protocol will soon launch an Ecosystem Grant for projects with future prospects that build on the Router Chain.
Edited by Stacy Elliott.
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Router Protocol, a Coinbase Ventures-backed decentralized blockchain network, has announced the mainnet launch of its Layer-1 solution Router Chain.
The launch, set for Tuesday, aims to bridge Bitcoin (BTC) and Ethereum (ETH) security to chains in the Cosmos (ATOM) ecosystem, enabling fully interoperable decentralized applications.
Router Protocol’s mainnet launch introduces chain abstraction technology, allowing developers to create dApps for cross-chain money markets and omnichain tokens and other use cases.
Router Chain eyes a chain abstracted ecosystem Chain abstraction relates to the defragmentation of the blockchain ecosystem to allow users to interact with dApps from any chain without having to exit their current application. Abstraction also allows for interaction with the applications on disparate chains via any token, with blockchains benefitting from aggregated liquidity.
Router Protool wrote in an update that its mainnet launch is another step towards addressing challenges facing developers and the community in relation to chain abstraction within the Web3 ecosystem. Per details shared in the press release, the protocol offers a product suite that includes Router Chain, Nitro and CCIF for this goal.
Router Chain is a proof of stake layer-1 chain leveraging Tendermint’s BFT consensus mechanism and offers compatibility with EVM and non EVM chains. Meanwhile, the Cross-Chain Intent Framework is a plug-and-play infrastructure for cross-chain dApps and Nitro supports cross-chain swaps.
“By abstracting blockchain complexities, Router Protocol not only advances chain abstraction technology but enables the next generation of decentralized applications to seamlessly interact across multiple chains, boosting efficiency and reducing costs. This is the development Web3 has been waiting for,” Router Protocol founder and CEO Ramani Ramachandran said.
ROUTE as gas token Router Protocol’s mainnet launch also allows developers and users to benefit from features such as optimistic reverse verification and fast finality for fast cross-chain transfers. Meanwhile, middleware interceptors provide for customizable interactions and composability.
According to Router Protocol, the ROUTE token will serve as the platform’s gas token as well as offer staking rewards for holders.
Bridging Bitcoin, Ethereum to Cosmos Features that come with Router Chain’s mainnet launch includes canonical bridges, omnichain tokens and alloyed assets, and cross-chain money markets. Developers can leverage Router Chain for decentralized applications for cross-chain lending, borrowing and trading.
Router Chain’s multi-chain dApps feature means developers can tap into Bitcoin or Ethereum’s security, while at the same time leverage Solana for low transaction costs and speed. Router plans to launch a bridging solution for Cosmos to help mitigate the chain’s security limitations.
Also backed by QCP Capital and Wintermute among other investors, Router Protocol will look to mainnet launch to expand beyond the over 30 EVM and non-EVM chains that it currently supports.
Router Protocol has partnerships with Circle, Osmosis and Electron Labs, while its CCIF integrations include Lido, Benqi, Stakestone and Aerodrome.
World Mobile Token has developed by integrating Chainlink’s Cross-Chain Interoperability Protocol (CCIP) to boost cross-chain token exchange and staking. This integration across multiple blockchains, including Ethereum, BNB Chain, Base, and Arbitrum, makes user transactions smooth.
World Mobile ensures secure and reliable cross-chain operations, benefiting from CCIP’s security features and risk management protocols. Chainlink shared this strategic integration with Chainlink (LINK) through its official X account.
Expanding Secure Cross-Chain Transfers with Chainlink CCIP Chainlink CCIP introduces arbitrary messaging capabilities, further streamlining the cross-chain process. This allows the World Mobile Token (WMT) network to offer simplified, secure staking across different chains. Consequently, users can stake on one chain and receive rewards on another, improving overall functionality.
World Mobile selected CCIP due to its proven track record of reliability in the Web3 industry. Chainlink’s CCIP is built with an independent Risk Management Network, which monitors cross-chain activities for suspicious behavior. This added layer of protection is crucial, given the exposure historically seen in the cross-chain sector.
Strengthening the World Mobile Ecosystem Chainlink’s integration brings several critical features to the World Mobile ecosystem. The CCIP Token Transfer solution allows audited token pool contracts to manage minting, locking, and burning tokens, creating an efficient and secure transaction system. Additionally, programmable token transfers enable data to be processed alongside tokens, streamlining developer transactions.
Moreover, CCIP is designed for future scalability. World Mobile Token’s decision to integrate CCIP ensures that new blockchain functionalities can be incorporated without costly upgrades or transitions. Hence, CCIP’s flexibility makes it the ideal solution for cross-chain operations.
This integration comes as World Mobile continues its mission to disrupt the telecom industry by offering decentralized mobile networks, focusing on underserved communities globally. By combining blockchain technology and sharing economy principles, World Mobile Token seeks to provide affordable and high-quality connectivity worldwide.
Chainlink CCIP is designed to be future-proof. It supports continuous updates, allowing World Mobile Token to adapt to new functionalities and blockchain networks. This future flexibility eliminates potential switching costs, making it a cost-effective and scalable solution for World Mobile Token’s growth.
World Mobile’s CEO, Micky Watkins, highlighted the importance of CCIP in securing their ecosystem, stating that it will enable staking across different blockchains while expanding the company’s offerings without compromising security.
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Crypto journalist with years of experience providing in-depth analysis and news on blockchain and decentralized finance. With a keen eye for detail, Shahzaib delivers insightful articles that explore the latest trends, market movements, and innovations within the crypto and blockchain ecosystem. His work focuses on educating readers while offering expert commentary on the evolving landscape of digital assets, DeFi protocols, and the broader impact of blockchain technology.
Cryptocurrency trading platform Unibot team made a new announcement today regarding the UNISOL token to be issued based on Solana.
At this point, Unibot, which initially came out as part of the Ethereum (ETH) ecosystem, announced that it has now adopted the Solana ecosystem and will launch a new token, UNISOL.
The new token, UNISOL, is designed to generate revenue in SOL, Solana's native currency, the team said.
This new token announcement was met with skepticism by investors and caused volatility in UNIBOT's price.
However, the developers assured in their statement that UNISOL can increase the value of UNIBOT.
The team also announced that UNIBOT holders will receive 80% of the UNISOL supply as an airdrop.
This move will allow UNIBOT holders to benefit from the 50% distribution of revenue generated by Unibot on Solana and earn additional earnings through the UNISOL airdrop.
UNIBOT, which experienced an increase of nearly 50% after the announcement, continues to be traded at $ 57 with an increase of approximately 20% at the time of writing.
//ANNOUNCEMENT
We'd like to clear the confusion around the path forward.
The revenue sharing for protocol revenue generated by @UnibotOnSolana is split 50/50 between two pools, described as follows.
Pool #1: simply being a holder of $UNIBOT on Ethereum, no strings attached.… pic.twitter.com/vqEVVhG1FI
— Unibot (@TeamUnibot) January 28, 2024
*This is not investment advice.
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Unibot’s native token fell past $50 today.Conflict has broken out between the popular Telegram bot’s Ethereum and Solana developers.Both sides traded accusations of breach of trust.Unibot’s token fell more than 40% today as news emerged of infighting between its Ethereum and Solana developers of the popular Telegram trading bot with over $1.1 billion in volume.
Unibot’s Ethereum developers said they had ended their collaboration with their Solana counterparts, accusing them of reneging on previous agreements.
The Solana group confirmed the split, announcing plans to rebrand from Unibot’s Ethereum team.
Unibot is a Telegram trading bot on both Ethereum and Solana. It first emerged on the Ethereum mainnet last May, followed by a Solana deployment in January.
Unibot users, especially those who use the Solana-based iteration, now find themselves in the lurch.
Today’s split is the latest problem to rock Unibot, which was previously hacked for $5.6 million last year. These problems have contributed to the project falling further behind its major rival, Banana Gun bot.
Unibot and Banana Gun bot belong to a class of projects that allow crypto users to trade tokens using only a few simple commands on Telegram.
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Unibot token slumps below $50 amid in-fighting between project teamsTelegram bots have evolved into a crypto niche in their own right and boast a $1.6 billion market capitalisation, according to Coingecko.
Apart from trading, several bots also share revenue with users, and some of them help traders automate airdrop farming activities.
Unibot developers lance accusationsThe Ethereum developers behind Unibot accused the Solana group of a breach of trust because the latter also launched a version of the bot on the Blast blockchain without its approval. Blast is a layer-two blockchain built by the same team behind the NFT marketplace Blur.
Unibot’s Ethereum developers accused its Solana counterparts of refusing to undergo the KYC identification process, too.
As such, the Unibot Ethereum team demanded the Solana group change its name which is currently Unibot on Solana.
Following the split, the Unibot Ethereum developers launched a Unisol X frontend for users on Solana as an alternative to the Unibot on Solana bot. They decided to launch a second front because they are no longer working with the Solana group.
Responding to Unibot’s accusations, Reethmos, the pseudonymous Unibot on Solana builder, said the split would not affect its users.
Unibot has earned over $53 million in revenue since inception. (whale_hunter/Dune/whale_hunter/Dune)
Reethmos countered Unibot’s statement and accused the Ethereum developers of engineering the split because the Solana team blocked their access to the bot’s revenue.
“They farmed $30 million from tax farming but apparently it wasn’t enough,” Reethmos said on X, formerly Twitter. Tax farming is the practice of levying fees on token swaps, and Unibot’s Ethereum developers earn 40% of the tax imposed on trading the token.
Unibot generates revenue across all chains, which is shared among token holders. To qualify for the revenue share, holders must hold at least 10 Unibot tokens.
Of the $53 million in cumulative revenue the bot has generated, $48.2 million has been realised on the Ethereum deployment.
Osato Avan-Nomayo is our Nigeria-based DeFi correspondent. He covers DeFi and tech. To share tips or information about stories, please contact him at [email protected].
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Over the weekend, South Korean Karaoke service SOMESING suffered a hack that stole hundreds of millions of SSX tokens. This hack has made crypto exchanges in South Korea alert users and take provisionary actions to minimize investors’ risks.
Upbit Alerts Over Security Risks On January 29, a press release from the largest South Korean crypto exchange Upbit alerted its users of the SSX tokens hack and the following measures to be taken. The exchange warned the community about the potential security risks and the price volatility the token has faced since the attack.
This announcement came after several crypto exchanges, including Bithumb and Coinone, followed SOMESING’s request to suspend SSX token deposits and withdrawals from crypto exchanges.
The press release stated that Upbit has also suspended deposits and withdrawals of the SSX token following the Foundation’s request and explained that the decision is based on the digital asset becoming a ‘cautionary asset’ according to the Digital Asset Exchange Association (DAXA) designation to protect investors.
As the report details, the ‘cautionary asset’ designation is founded on the security issue that the suspicious movements from SOMESING Foundation wallets represent, as well as the change in distribution volume compared to the distribution plan previously submitted by the foundation.
Consequently, Upbit also labeled the SSX token as a ‘cautionary asset’ and has designated a review period from January 19, 2024, until February 14, 2024, to examine the SSX token. Upbit will conduct a detailed review of the digital asset during this period to determine whether to extend or lift the ‘cautionary asset’ designation or terminate the transaction support.
730 Million Tokens Withdrawn To An Unknown Crypto Wallet On January 27, the decentralized blockchain music platform SOMESING notified its community and holders and revealed the details of the hack that occurred in the early hours of that day.
The hack saw 730 million SSX tokens, worth approximately $11 million at the time, withdrawn to unknown wallets. The foundation detailed on its Medium post that 504 million of the stolen SSX tokens were undistributed tokens originally planned to be circulated by the end of 2025.
The Foundation held the other 226 million withdrawn tokens for their circulation supply plans, and as a result, 489 million SSX tokens are over-circulating.
SOMESING’s investigation determined that no member of its team seemed to be involved in the attack, as the methods used suggest that it was most likely conducted by a professional hacker or group of hackers specialized in targeting digital assets.
As part of the emergency measures taken, the Foundation informed that the case was immediately reported to the Cyber Investigation Unit of the National Police Agency, and the incident would also be reported to Interpol.
Additionally, SOMESING urgently requested that domestic and foreign exchanges temporarily suspend deposits and withdrawals of the SSX token where it was listed to prevent further damage to users.
Lastly, the Foundation detailed its plan to track the transaction history of the stolen SSX tokens in collaboration with the Klaytn Foundation and Official Interpol-partner cyber security company Uppsala Security. The goal is to identify the final destination of the stolen funds and identify the hacker’s wallet to potentially freeze the seized assets and unveil the hacker’s identity to take further legal action.
According to CoinGecko data, the SSX token traded around the $0,017-$0,018 range before the hack, falling to $0,015 in the following hours. At writing time, the SSX token trades at $0.01413, a 12.4% price drop in the last 24 hours.
BTC is trading at $ on the hourly chart. Source: BTCUSDT on TradingView.com Featured image from Unsplash.com, Chart from Tradingview.com
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ThunderCore is one of the latest projects that is trying to solve the blockchain trilemma. That constant struggle between Decentralization, Scalability and Security.
The project is the culmination of years of scientific research. It was only launched recently and has already started achieving interesting results. Trading volumes in the Native Thunder Token has also picked up at a rapid pace.
However, can the project really achieve these ends?
In this ThunderCore review I will attempt to answer that. I will also analyse the long term use cases and adoption potential of the Thunder Tokens.
ThunderCore SolutionAs mentioned, the blockchain Trilemma is a pertinent one. Quite simply, it is the notion that any blockchain technology is only able to achieve two of the three following traits at the same time:
DecentralizationScalabilitySecurityThe most famous proponent of this idea is Ethereum’s founder Vitalik Buterin. However, the ThunderCore protocol offers an elegant solution to the problem and believes it has found a way to deliver all three traits at the same time.
It will solve the problem by combining a standard blockchain, which they are calling the “slow chain” and such as you would find on Bitcoin, Ethereum or any other Proof-of-Work chain, with another chain they are calling the “fast path.”
How the Accelerator Network will work
The fast path is a Proof-of-Stake chain that is secured by a committee of 300 stakeholders and is coordinated by the central authority called the “Accelerator.” The Accelerator exists to linearize transactions and data on the fast chain and was created as a simple way to accomplish this task, which is quite difficult to do in a decentralized fashion.
By combining the slow chain and fast path in this manner ThunderCore achieves the following blockchain behavior:
When the network is working properly i.e. not under attack or compromised, it supports instant confirmations and high throughput.If the network does come under attack the blockchain security is maintained as long as the slow chain remains secure and as long as a majority of the stakeholders remain honest. This is true even if the Accelerator is corrupted and acting maliciously.ThunderCore was built and developed with the application developer community in mind. Not only was it built around developer needs, but it also collects data, feedback, and insights on how the platform is being used by developers to create decentralized applications.
Daily Active Users of top 3 dApp platforms. Image via Official Blog
This data is then used to ensure the platform best supports the developer community. One of these supports is that Ethereum dApps can be ported to ThunderCore in under five minutes.
ThunderCore Roadmap and GrowthThe ThunderCore development team spent six months analyzing the data from their testnet and cleaning up bugs in the code before launching a Pre-Release mainnet on February 28, 2019. The Pre-Release Mainnet was only different from a Public Mainnet in that TT tokens could not be staked on the Pre-Release Mainnet.
The number of addresses and transactions seen on the Pre-Release Mainnet was significant, with the total number of addresses growing to more than 40,000 by the end of April 2019, and the number of transactions climbing to nearly 200,000.
On May 14, 2019, the ThunderCore team announced the launch of the official mainnet, which came following the ICO on May 9. Because of the full compatibility ThunderCore has with the Ethereum Virtual Machine dApps can be quickly and easily migrated to the mainnet.
ThunderCore's Extended Roadmap. Image via Official Blog
Now that the mainnet has officially launched the ThunderCore development team will focus on three key areas of the protocol:
Research and Design of the ProtocolBlockchain ImplementationDeveloper and User EnhancementsThe first area of focus has mostly been completed at this time, with the mainnet launch and the implementation of the Proof-of-Stake incentives. This is bringing about large-scale consensus and committee elections.
The third area of focus is also nearly complete for the time being, with the team looking to add portal enhancements for developers. This is expected to be completed sometime in the third quarter of 2019.
The largest changes in the second half of 2019 will be made in the area of Blockchain Implementation. This will see the next release of ThunderCore called Haikili released sometime in the fourth quarter of 2019, and will bring developer funded gas and cross chain assets to ThunderCore.
The final scheduled upgrades on the roadmap are increased privacy support and the ThunderCore Raijin release, which will add additional blockchains to the protocol as fallback measures. These changes aren’t expected until the second quarter of 2021.
The ThunderCore TeamThe ThunderCore team is global, but the majority of the more than 60 team members are located in San Francisco, CA. The core team of ThunderCore consists of highly dedicated blockchain professionals, all of whom have solid experience in blockchain, networking, security, software development and other areas of computer science.
The primary leaders of the team are CEO Chris Wang, co-founder Elaine Shi and co-founder Rafael Pass.
Chris Wang, the CEO of ThunderCore, received his Ph.D. in Computer Science from Carnegie Mellon when he was just 22 years old. He went on to become a co-founder of the gaming company Playdom, which was acquired by Disney in 2010 for $532 million, although it was later shut down.
Elaine Shi is the Chief Scientist at ThunderCore and is one of the co-founders of the project. She also received her Ph.D. in Computer Science from Carnegie Mellon, and in addition to co-founding ThunderCore, she is also a co-founder of the Initiative for Cryptocurrency and Contracts (IC3).
ThunderCore "Core" Team members
She is extremely experienced in the blockchain space and can be considered a pioneer as she was the first person to write an academic paper concerning Bitcoin and decentralized smart contracts. She has received numerous awards for her work and was the author of the Thunderella protocol, which became the basis for the ThunderCore protocol.
The other co-founder of ThunderCore is Rafael Pass, who received his Ph.D. in Computer Science from the Swedish Royal Institute of Technology. He also received an additional Ph.D. in Computer Science from MIT, and he currently works as a professor at Cornell University.
Pass is considered to be an expert on cryptographic protocols, consensus, and game theory. He was also a co-founder of IC3 alongside Professor Shi, and he helped create the highly scalable ANONIZE computation protocol implemented in the Brave browser with Abhi Shelat.
ThunderCore PartnershipsI normally don’t mention partnerships because in many cases in the blockchain space partnerships are not very meaningful, often created between two blockchain companies neither of which have a viable product. This is not true in the case of ThunderCore and its partners, all of which are already leaders in the blockchain space with solid products.
The first of these partnerships is with TrustWallet, the official cryptocurrency wallet of the Binance Exchange, which now supports the TT token as well. The wallet will also give users access to all the dApps built on the ThunderCore platform.
TrustWallet & Thunder Token. Image via ThunderCore
A second critical partnership has been formed with BlockVigil, who will give ThunderCore advanced integration capability by delivering a transparent API layer to users.
In order to ensure dApp vulnerabilities and protect developers and users, a partnership with Silicon Valley-based blockchain security firm AnChain.ai was formed. The technology developed by AnChain.ai will help determine if the dApps on the ThunderCore platform are safe to interact with.
Last, but not least, is the partnership formed with Liquidity Network, who will be launching their NOCUST payment hub on ThunderCore’s blockchain.
When it comes to increasing adoption and awareness of a cryptocurrency, the community behind said project can be powerful. Hence, I decided to get a better look at the size and engagement of community behind the ThunderCore project.
Firstly, it is important to point out that this project really is global in scope. They have three Telegram channels to support three of their most popular languages.
In the English Telegram channel, they have over 4,900 members. Their Korean channel is on the lighter side with 445 members but they have over 21,000 members in their Chinese channel!
I decided to jump into their English channel to get a better sense of the discussion that was taking place there.
Some of the Discussions in English Telegram
As you can see, the Admins are being quite helpful with those new to the channel and community. There was a bit of price banter and memes that were shared amoung the community but this is normal for most crypto telegram channels.
Taking a look at some other social channels, ThunderCore has a pretty active Twitter account that has just below 10k followers. This is less than we have seen on other official project accounts.
Finally, they also have a Reddit, Discord and official blog. The latter is perhaps one of the best ways to get important updates from the ThunderCore team.
The TT TokenThe TT Token is an ERC-20 token for the ThunderCore blockchain. It acts as a store of value and provides the gas for transaction fees on the blockchain and to underwrite the smart contracts that are created on the ThunderCore blockchain.
It will also be used to build and monetize dApps on ThunderCore. Finally, it can be staked in order to become one of the committee stakeholders or to become the Accelerator and receive incentives for securing the network and processing transactions.
ThunderCore first raised $50 million in private equity during three rounds of private investment. On May 9, 2019, they held an IEO on Huobi Prime Lite, raising $500,000 and selling tokens at $0.015 each.
Thunder Token Price History since IEO. Image via CMC
Given the very short time the token has been in existence its notable that it is currently in the 122 position on CoinMarketCap with a market capitalization of just over $46.5 million.
After its release on May 10, 2019, the TT token immediately jumped higher, hitting its all-time high of $0.02818 on its first day of trading. It dropped quickly and spent the next several weeks trading between the $0.02 and $0.025 level.
By the end of June, it dipped below the $0.02 level however and hit its all-time low of $0.013012 on June 27, 2019. At the time of writing (July 1, 2019) the token is trading at $0.016044.
Buying & Storing Thunder TokensGiven that the Thunder Token was issued in an IEO that took place on the Huobi Exchange, (now HTX), it only makes sense that this would have the most trading volume. However, there is reasonable amounts of volume on exchanges such as Hotbit and Upbit.
What was surprising to me was that the token is not yet listed on Binance. TrustWallet is owned by Binance and they have already started offering support Thunder Token so it looks like a natural fit.
Irrespective of this though, there appears to be decent trading turnover for the Thunder Tokens on the exchanges where they are listed. This means that liquidity should not be an issue when executing large block orders.
Register at HTX and Buy TT Tokens
When you have bought your Thunder Token then you will want to take them off of the exchanges. This is no doubt one of the most prudent things to do given the numerous examples of large exchange hacks.
Given that ThunderCore was built on top of the Ethereum Blockchain, you can store the tokens in any ERC20 compatible wallet. However, you are perhaps best suited to use a secure offline alternative like a hardware wallet.
Having said this, the ThunderCore team is working with other wallet developers to add support for Thunder Token.
ConclusionThe ThunderCore project is an interesting take on smart contracts and dApp creation with a goal of improving blockchain technology across the board. The team behind the project is an impressive one, and the adherence to their own timeline is notable. Now that the public mainnet has launched we can see how well ThunderCore stacks up against its competitors.
The first 10 weeks saw ThunderCore attract 10,000 active users to its platform. The speed of user acquisition was far faster than similar platforms, although that might be due to the maturing dApp communities. We will have to wait and see if growth continues at that pace.
One concern for the project comes in connection with their recent IEO. The price of that IEO was far below the price at the private funding rounds, which were $0.01 in the first round, $0.02 in the second round, and $0.10 in the final round of private funding.
It’s an unwritten rule that the large investors who buy in these private funding rounds are supposed to get the best price for tokens, but ThunderCore has undercut private investors by 85% in their public sale. That could create problems long term, especially if the project intends on securing additional funding.
Business concerns aside, the technical team is a strong one, and they seem to have a good grasp on what they need to do to accomplish their goal of scalability, security, and decentralization in a blockchain.
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Panelists at global fintech company Finder have relayed a series of projections on the Cardano native token ADA. Despite the cryptocurrency’s slow growth recently, various crypto experts have predicted the price of ADA to surge to record highs soon.
Cardano Expected To Rise Above $3 by 2030 A recent survey of panelists at Finders has revealed the future outlook for the price of ADA. According to the report, Cardano is expected to witness a significant surge between the average of $5.37 and $3.15 by the end of the decade.
Supporting the cryptocurrency’s potential price growth, the Chief Operating Officer (COO) of Layer One X, Matiu Rudolph has predicted that the price of ADA could increase to $3.50 or higher by 2025. He has also predicted that the cryptocurrency could witness a rise to new all-time highs of $10 by 2030.
The COO has based his predictions on Cardano’s burgeoning ecosystem and robust community of supporters. He disclosed that the cryptocurrency’s loyal community was one of its greatest assets, fostering global adoption and boosting the value of the cryptocurrency.
Also speaking about Cardano’s future price outlook, the founder of Omnia Markets, Mitseh Shah has projected the price of ADA to surge to $2.75 by 2025. The fintech founder has given reasons for his price prediction, stating if the crypto market enters a bull run, Cardano could see its price rising to new highs.
“If next year’s Bitcoin halving leads to a bullish crypto market Cardano could well be taken along for the ride,” Nick Ranga, senior cryptocurrency and forex analyst at ForexTraders stated.
In a similar light, another panelist, Ruadhan O, creator of Seasonal Tokens has remained bullish on Cardano, expecting the cryptocurrency to surge to $2 by 2030. The crypto investor has disclosed that Cardano is likely to witness significant gains from Ethereum’s market share during the next crypto bull run.
Overall, predictions regarding Cardano’s price outlook seem to depend on the market’s performance and the possibility of a bull run. At the time of writing the cryptocurrency is trading at $0.65, reflecting an increase of 3.63% over the past week, according to CoinMarketCap.
ADA To Witness Major Price Drop Despite the optimistic forecast from a considerable number of Finder’s panelists regarding Cardano’s price, others have expressed opposite views, highlighting Cardano’s underperformance and inability to keep up with market expectations.
Josh Fraser, co-founder of Origin Protocol, Cardano and Joseph Raczynski, a futurist have predicted that the price of Cardano could plummet to zero by 2030 and 2025 respectively. Numerous other panelists who share similar pessimistic sentiments have revealed that Cardano’s lack of decentralized applications and failure to achieve global adoption was one of the key factors behind its foreseeable limited price growth.
ADA price at $0.65 | Source: ADAUSDT on Tradingview.com Featured image from CoinStats, chart from Tradingview.com
Tanzeel Akhtar has been reporting on cryptocurrency and blockchain technology since 2015. Her work has appeared in leading publications including The Wall Street Journal, Bloomberg, CoinDesk, Bitcoin...
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April 3, 2024
Origin Protocol token holders have proposed to merge the protocol’s lesser known token Origin DeFi Governance “OGV” with its native decentralized finance (DeFi) Ethereum token OGN.
The OGN protocol is backed by Reddit co-founder and VC investor Alexis Ohanian, Taiwanese-born American YouTube co-founder Steve Chen, and Y Combinator president Garry Tan.
In an announcement, Origin Protocol said the move to integrate the tokens will improve Ethereum liquid staking. This allows anyone to share in the rewards of staking without having to maintain complex staking infrastructure.
“The proposal aims to unify Origin Protocol under a single token,” Matt Liu, co-founder of Origin Protocol told Cryptonews. “If both DAOs align on the merger, OGN will become the cornerstone of Origin’s ecosystem, fostering alignment among the community, investors, and core team for improved value creation,” said Liu.
“At a market capitalization of less than $15 million, the team and its investors feel that acquiring OGV while undervalued will serve as a value-creating event,” said Origin Protocol in a press release.
What Is Origin Protocol?
Origin Protocol is a blockchain platform designed to enable decentralized marketplaces and sharing economies and claims to cut out the middleman. It aims to disrupt traditional sharing economy companies like Airbnb and Uber by allowing buyers and sellers to interact directly without the need for intermediaries.
The platform utilizes smart contracts to facilitate transactions, reducing fees and increasing transparency. It also allows developers to build decentralized applications (dApps) on top of its infrastructure.
What Is a Token Merger?A token merger refers to the consolidation of two or more tokens into a single token. This process usually involves transferring the value, functionalities, and user base of the merged tokens into a newly created or existing token.
Token mergers can occur for various reasons such as improving liquidity, simplifying tokenomics, or merging projects to achieve a better synergy. It seems token mergers are becoming more common in the cryptocurrency space.
Origin Protocol highlights there are several notable token merger projects paving the way for innovative new realignments. There is the merger between Fetch.AI, and Ocean Protocol. Another involves SingularityNet with ChainGPT CEO Ilan Rakhmanov stating the merger will set new standards for the industry.
What Is the Origin Token?Origin Token (OGN) is an Ethereum token that powers the Origin platform, which aims to power decentralized and peer-to-peer marketplaces. OGN can be used for staking, governance, and advertising on the Origin platform.
The Origin Protocol white paper can be found here.
Origin Protocol went on to add if the OGN-OGV merger proves successful, it will set a benchmark for mergers and acquisitions within the DeFi space. The merger has generated a buzz within its community and the broader crypto space.
Origin Token (OGN) is an Ethereum-supported platform that combines NFTs and decentralized finance (DeFi) to create unique experiences and opportunities for users. Origin Token aims to bring NFTs and DeFi to the masses by providing simplified platforms for NFT issuance and stablecoin-based passive income. In this article, you can find answers to two frequently asked questions: What is Origin Token (OGN), and how to buy Origin Token (OGN) with TRY?
What is Origin Token (OGN)?Origin Token started as a decentralized e-commerce platform but later shifted its focus to NFTs and DeFi. The platform consists of two main components: NFT Launchpad and Origin Dollar (OUSD). Through these components, Origin Token empowers creators and users to interact with NFTs and DeFi in innovative ways, providing more control and accessibility to cryptocurrencies and financial opportunities.
NFT Launchpad is Origin Token’s marketplace for NFT issuance, designed to simplify the process for creators and provide unique experiences for users. Creators can customize their showcases, pricing models, and content to offer a wide range of digital products, collectibles, and experiences. This platform aims to democratize NFT creation and ownership, allowing creators to connect directly with their audiences and monetize their work in new ways.
Origin Dollar (OUSD) represents Origin Token’s entry into the DeFi ecosystem, offering users a stablecoin pegged 1:1 to the US dollar with the advantage of passive income. Unlike traditional stablecoins, OUSD holders can earn yields directly from their wallets without needing to stake or lock their funds. This passive income is generated through the automatic rebalancing of funds across various lending protocols, allowing users to participate in yield farming seamlessly.
The Origin Token ecosystem is governed by the OGN coin, which ensures the platform’s transparent auditing and development. OGN coin holders have a stake in the governance process, ensuring the platform evolves according to the community’s needs and priorities. This governance model fosters a collaborative environment where users can actively participate in shaping the future of Origin Token.
Origin Token offers users various advantages, such as greater control over NFT creation and ownership, simplified access to DeFi opportunities, and passive income with OUSD. By combining NFTs and DeFi on a single platform, Origin Token aims to democratize access to cryptocurrencies and financial services, empowering both creators and users.
How to Buy Origin Token (OGN) with TRY?Binance TR is the most suitable cryptocurrency exchange for investors in Turkey who want to buy Origin Token (OGN). On Binance TR, where accounts can be created quickly, more than 100 cryptocurrencies, including OGN, can be bought and sold. To buy Origin Token (OGN) with TRY on Binance TR, you can follow the steps below.
How to Open an Account on Binance TR?Opening an account on Binance TR is quite easy. For this, you need to go to trbinance.com and continue from the “Create Account” step. In the first step of account creation, you will be asked to enter basic information such as your email address, phone number, name-surname, date of birth, nationality, and T.C. identity number.
After entering the requested information completely and correctly, email/sms verification will be done to confirm the information. After completing this process, you will proceed to the second step, identity verification (KYC).
How to Verify an Account on Binance TR?Identity verification on Binance TR is one of the security procedures that must be performed before starting cryptocurrency trading and during account creation. This process is also necessary to protect both the user and the cryptocurrency exchange. You can perform the verification process from your phone or through the official Binance TR website. Note that you will need your mobile phone to perform identity verification from the website.
On the Binance TR website, hover over the “Profile” option at the top right, click on “Identity Verification and Limits” from the drop-down menu, and then click on “Verify.” After this step, you will need to scan the QR code that appears with your mobile phone camera and continue the process on your phone. If you cannot scan the QR code, you can click on the “Copy URL” option to have the identity verification address sent to your phone via SMS.
When you enter the address on your phone or scan the QR code, a screen like the one below will open on your phone. From here, continue by tapping on the “Identity” option first.
Then, a screen like the one below will appear. To continue the verification process, first select the document type that suits you.
After selecting the document type, continue by tapping on the “Upload Front” option. After taking a photo of the front side of the document according to the document type you selected, tap on the “Upload Back” option and take a photo of the back side of the document and upload it. When taking photos of the front and back sides of your ID card or driver’s license, make sure the images are clear and the information in the photo can be easily read.
Then, continue by tapping on the “Selfie” option. At this point, your phone’s front camera will open, and you will need to scan your face. Once the camera opens, ensure that your face fills the camera area as much as possible.
After completing all these steps correctly and completely, your identity verification process will be completed in a short time.
How to Deposit TL on Binance TR?You can easily deposit TL into your Binance TR account from all banks. You can deposit TL 24/7 from your Vakıfbank, Ziraat Bankası, İş Bankası, Akbank, Fibabanka, Şekerbank, Türkiye Finans accounts and make transactions without interruption. Deposits up to 50,000 TL can be made 24/7 with FAST from other banks. Deposits over 50,000 TL from other banks are processed during EFT hours.
To deposit money into your Binance TR account, first go to trbinance.com, hover over the “Wallet” option at the top left of the homepage, and click on the “Deposit” option from the drop-down menu.
Then, a page like the one below will open, and you can continue the deposit process by selecting your preferred bank from this page. If your preferred bank is not yet integrated with Binance TR, you should continue by clicking on the “Other Banks” option.
In this example, we will continue using Vakıfbank, but the process is the same for all other banks. When you click on the Vakıfbank option, you will see an account name and IBAN address where you can make a transfer, EFT, or FAST to that bank. Now, all you need to do is use the information displayed on the bank’s page to transfer the amount you want to deposit into your Binance TR account via transfer, EFT, or FAST.
After your bank completes the transfer process, the funds you sent will automatically be reflected in your Binance TR account wallet.
How to Buy OGN Coin with TL on Binance TR?After the deposit process, you can proceed to the OGN coin purchase step with TL by clicking on the “Buy-Sell” option in the top left menu on the Binance TR website.
After clicking on this option, the page below will open. On this page, type “OGN” in the search section on the right side and click on the OGN/TRY option from the results to go to the OGN purchase page with TL.
Now the OGN trading page below will open. On this page, in the red-marked area, you need to enter the price at which you want to buy OGN in the first box and the number of OGN you want to buy in the second box. After entering the amount, you can complete your purchase by clicking the “Buy OGN” button.
What is Binance TR?Binance, the world’s largest cryptocurrency exchange by trading volume, officially launched its platform Binance TR for cryptocurrency investors in Turkey in 2020. The cryptocurrency exchange, headquartered in Istanbul, can be accessed at trbinance.com.
Binance TR leverages Binance’s technology, security measures, and liquidity provided through the Binance Cloud infrastructure to offer both fiat-to-crypto and crypto-to-crypto trading services. Users in Turkey can easily deposit and withdraw Turkish lira (TRY) directly through bank channels and trade various cryptocurrencies with TRY trading pairs via Binance TR.
Users supported by Binance’s core functions can access market-leading spot trading liquidity, a powerful matching engine, advanced security protocols, custody solutions, and risk controls through Binance TR.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
Chainge Finance has received a $13 million investment capital from two digital asset investment firms Gem Digital and Alpha Token Capital to augment cross-chain trading. The firm first announced plans to raise the fund in April.
Also read: DeFi Blue Chips: Which Tokens Doubled Their Volumes After Ethereum ETF Approval?
Of the two investors, Gem Digital Limited based in the Bahamas committed $10 million, while Alpha Token Capital (ATC) has vowed to pour in $3 million towards Chainge’s “mission to change the long tail exchange market.”
Chainge Finance Wants To Disrupt the Market Under the leadership of Najam Kidwai, Mike Lempress, and Dejun Qian, Chainge is looking at leveraging the investment to disrupt the long-tail market.
In an announcement on Monday, the cross-chain liquidity protocol revealed it received the funding to expand its services and make trading more accessible to users globally by leveraging AI.
“Our goal is to create a seamless trading experience across multiple blockchain platforms.”
Chainge CEO Dejun Qian
According to Chainge, the investment is also a thumbs-up of its vision of affording users seamless access to digital assets across numerous chains. This comes as interoperability has been cited as a key enabler in decentralized finance.
💥 Chainge has secured $13Million in investment from GEM Digital & Alpha Token Capital to supercharge our AI-Trading Protocol’s Expansion!
This leap is poised to drive sustained growth, bringing cutting-edge AI-driven solutions to a global audience
Plans To Break Blockchain Technologies Complexities Chainge has also indicated the $13 million investment will help it focus on breaking barriers in the digital assets space.
Also read: Chainage Set To Raise $13 Million Amid Expansion Plans
One of the major concerns in the industry is lack of interoperability, and this investment seeks to address that challenge.
Chainge says the new investment should enhance its ability to provide the necessary tools to navigate the complexities of blockchain technology “effortlessly.”
With the investment, the platform also seeks to capture the emerging opportunities in the digital asset industry and redefine cross-chain trading standards.
The Initial Expansion Initiative Initially, Chainge reportedly floated the idea to its community members to fund-raise from investment companies beginning of April.
The platform, which had about $100 million in total locked value, approached its token holders for approval to raise the funds.
A part of Chainge’s proposal entailed unlocking 50 million of its tokens called XCHNG into the market, which would represent an estimated 10% of its circulating supply.
Chainge did not declare the outcomes of the proposal although its community seems to have accepted the proposal hence the $13m investment.
Also read: PEPE’s Price Action: Are We Headed for a Hard Consolidation?
Apart from supporting Chainge’s growth and network expansion, the latest funding will increase the company’s visibility to global audiences.
Chainge also plans to channel part of the funding towards recruiting experts to guide the fusion between AI and emerging technologies.
Since 2021, the firm has made strides in the industry, growing into the most liquid cross-chain crypto trading platform, calling themselves the most “advanced DEX aggregator ever developed.”
In 2023, the platform integrated with Kapsa, a blockDAG focused on developing an open and scalable payment network.
Polygon‑incubated Katana has acquired veteran DEX IDEX to launch Katana Perps, folding a decade of exchange tech into its DeFi stack as it races Hyperliquid and dYdX for onchain derivatives volume.
Summary
Polygon‑incubated DeFi chain Katana has acquired veteran DEX IDEX to power Katana Perps, a new perpetual futures platform that natively integrates spot and derivatives trading. CEO Matthew Fisher says the goal is to “own more of the trading stack and the revenue that comes with it” as onchain derivatives volumes and always‑on markets surge. Market makers including GSR, Selini Capital, and Auros are seeding liquidity, positioning Katana as a full‑stack DeFi chain spanning spot, lending, launches, and perps. Katana, a DeFi‑focused Ethereum scaling chain incubated by Polygon Labs and trading firm GSR, has acquired decentralized exchange IDEX, using its infrastructure to launch Katana Perps, a perpetual futures venue built directly into the Katana app. The deal, announced on March 23, 2026, brings nearly a decade of exchange technology from the 2017‑founded DEX into Katana’s stack, with IDEX now “relaunching as Katana Perps” and serving as the native derivatives engine for the chain. “The goal is to own more of the trading stack and the revenue that comes with it,” Katana CEO Matthew Fisher said, calling the acquisition the “first major step” of his tenure as he formalizes the strategy he has led since joining the project.
Fisher argued that as crypto trading migrates to always‑on venues, infrastructure that blends CEX‑like performance with onchain settlement will define winners. “We’re building for 24/7 markets where price discovery happens onchain, not during bank hours,” he said, pointing to U.S. regulators’ recent signals about a path for crypto perpetual futures as an inflection point for the sector. Under the new setup, IDEX’s order book and AMM architecture becomes the backbone for Katana Perps, which routes spot liquidity, perps, and order flow through a single interface rather than siloing derivatives as a separate product.
A full DeFi stack with native perps Katana’s broader DeFi stack now spans four pillars: Sushi for spot trading, Morpho for lending, Kensei for token launches, and Katana Perps for leveraged derivatives, all coordinated by the KAT and vKAT token model. Over time, vKAT holders will be able to direct incentives toward perps markets and earn a share of fees, folding derivatives revenue into the same flywheel that powers spot and lending on the chain. At launch, Katana Perps is supported by major market makers GSR, Selini Capital, and Auros, which Fisher said were drawn by IDEX’s “nearly a decade” of live infrastructure and the chain’s performance‑oriented design.
Founded in 2017, IDEX was “the first decentralized exchange to combine a high‑performance matching engine with onchain settlement” and, through 2019, “consistently ranked first by trading volume and transaction count among all DEX protocols,” Katana noted. Bringing that stack in‑house lets Katana offer a more CEX‑like experience — deep API support, higher throughput, and tighter spreads — while keeping custody and settlement onchain.
Onchain derivatives arms race The acquisition lands as perpetuals DEXes are seeing rising volumes and attracting more professional flow, with venues like Hyperliquid, dYdX, and GMX competing to lock in whales and market makers. Recent crypto.news coverage has highlighted how new onchain products — from Hyperliquid’s HIP‑4 proposal for outcome markets to high‑stakes perps traders posting multi‑million‑dollar PnL — are pulling structurally sticky liquidity into derivatives rails. In that context, Katana’s decision to acquire rather than simply integrate a third‑party DEX is a clear statement: the chain wants to control its own economic engines instead of renting them.
As Fisher put it, “Owning perps is not just owning a product, it’s owning the heartbeat of your chain,” a line that neatly captures where the DeFi race is headed.
Jiang Zhuoer: This round of Bitcoin bear market may bottom out in Q4 2026, with a target range of $42,000 to $44,000.
BTC.TOP founder Jiang Zhuoer wrote in a post that Strategy’s modified net asset value (mNAV) has fallen to 0.72, near the 0.7 low hit in May 2022 during the last bear market. Citing recent market sentiment events including STRC’s depegging, he noted that mNAV is now in the bottom zone of this cycle. mNAV usually bottoms roughly six months before Bitcoin’s price. Using the "four-year cycle" and volatility decay model, Jiang projected that this Bitcoin bear market will likely bottom between October and December 2026, with a target price range of $42,000 to $44,000. He added that his recent medium-short term strategy remains focused on selling spot assets and holding short positions, and will switch to buying spot and going long once the expected bottom arrives.
1 seconds ago
The VIX Fear Index for the US stock market stands at 18.63 today, with fear sentiment intensifying in the crypto market.
According to Cboe data, the U.S. stock market's VIX Fear Index stands at 18.63 as of today, down 0.86 points from the prior reading of 19.49, marking a decline of approximately 4.41%. Separately, per Alternative data, the Crypto Fear & Greed Index is at 12 today (compared to 17 yesterday), indicating intensifying extreme fear sentiment.
1 seconds ago
Bank of Japan Board Member: Should Accelerate Pace of Interest Rate Hikes If Upside Inflation Risks Intensify
Bank of Japan (BOJ) Policy Board member Naoki Tamura stated that if upside risks to price growth intensify further, the BOJ should not hesitate to accelerate the pace of interest rate hikes or raise rates by a larger margin. He projected that the BOJ will implement interest rate hikes every few months until its policy rate reaches the neutral level of around 2%. (Golden Ten)
1 seconds ago
Crypto token M plunged over 80% in a short period, hitting a low near $0.5.
According to HTX market data, the token M saw a sharp short-term price plunge, with its decline once exceeding 80% and hitting a low of around $0.5, and is now trading at $0.54.
1 seconds ago
Blockchain data infrastructure firm Cambrian has closed a $6 million funding round, jointly led by Franklin Templeton and Polychain Capital.
Blockchain data infrastructure project Cambrian has closed a $6 million seed round, co-led by Franklin Templeton and Polychain Capital, with participation from Flow Traders, Selini Capital, and other investors. The project previously raised a $5.9 million pre-seed round led by a16z Crypto Startup Accelerator, bringing its total funding to $11.9 million. Cambrian currently provides institutional investors and AI Agents with real-time and historical data APIs covering on-chain yields, risks, lending markets, and trading activities, and plans to further build a verifiable data oracle network. Official data shows it has indexed over $4.5 billion in lending TVL, tracks more than 320,000 DEX liquidity pools, and currently supports Base and Solana, with plans to expand to additional ecosystems including Ethereum. The funds will be used to expand on-chain data coverage, accelerate oracle network development, and team recruitment.
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Whale 0xbilly pulled off another "buy high, sell low" move, exiting with a $220,000 loss in a single day.
According to EmberCN’s monitoring, whale address 0xbilly liquidated 2,409 ETH in the early hours of today when ETH fell to around $1,569.5, worth approximately $3.78 million, with a total loss of roughly $220,000. Notably, this batch of ETH was purchased just one day ago for about 4 million USDC, at an average price of approximately $1,660.2. The address also previously bought 7,768.5 ETH at a high of $2,254 in March this year, valued at around $17.51 million, and exited via stop-loss four days later, incurring a loss of roughly $800,000.
TRON founder Justin Sun has offered a hypothetical plan for Ethereum and the Ethereum Foundation (EF) under his leadership. His remarks come amid controversy over EF’s leadership transformation.
In a series of posts on X (formerly Twitter), Ethereum co-founder Vitalik Buterin outlined the reforms’ goals and progress. He highlighted improvements in technical expertise, ecosystem engagement, and operational efficiency.
Justin Sun Outlines Blueprint for Ethereum LeadershipThe TRON executive shared ambitious remarks on how he would lead the Ethereum Foundation if given the opportunity. Sun’s vision, shared on X, outlined a four-point plan to radically restructure EF operations, optimize Ethereum’s economic model, and drive the price of ETH to $10,000.
“If EF and Ethereum were under my leadership, ETH would hit $10,000,” Sun claimed.
Sun proposed an immediate halt to ETH sales for three years to stabilize supply and boost market confidence. He suggested covering EF’s operational costs through DeFi protocols like Aave, staking yields, and stablecoin borrowing, aligning with Ethereum’s deflationary goals.
A key component of his plan involves imposing significant taxes on Layer 2 (L2) solutions, aiming to generate $5 billion annually. The collected taxes would go toward exclusively repurchasing and burning ETH, further enhancing its scarcity and value.
Sun also called for a drastic downsizing of EF staff, retaining only top performers and offering them significant salary increases. This merit-based approach, he argued, would streamline operations and improve efficiency.
Finally, Sun emphasized adjusting node rewards and increasing fee burns to reinforce Ethereum’s deflationary narrative. He proposed redirecting all resources toward Ethereum’s core L1 development, focusing on scalability, security, and adoption. Justin Sun’s plan sparked a mixed response, with some applauding the bold vision.
“These are all very practical suggestions. Please pay attention to them and refer to them, Vitalik Buterin,” core developer 0xSea.eth posed.
Meanwhile, others challenged Sun to focus on TRON and explore bringing decentralized finance (DeFi) to its ecosystem.
“Maybe start with how to make DeFi great on TRON – you should ask your exec team (and yourself), “Why is DeFi nonexistent on TRON despite it being the chain with the most stable coins on it?” If you answer this, maybe TRON can beat eth one day,” ZIGChain co-founder Abdul Rafay Gadit remarked.
Vitalik Buterin Defends Leadership Amid CriticismSun’s proposed solution aligns with Vitalik Buterin’s recent post discussing ongoing changes over the past year, some of which have already been implemented. Buterin emphasized goals such as strengthening the EF’s technical leadership and improving collaboration with ecosystem participants. He also addressed concerns, rejecting the notion that the EF might adopt centralized or politically motivated roles.
“…these things aren’t what EF does and this isn’t going to change. People seeking a different vision are welcome to start their orgs,” Buterin articulated.
Aya Miyaguchi, an EF executive, confirmed the ongoing efforts, expressing excitement about forthcoming announcements. She noted that the reforms aim to solidify Ethereum’s position as a global neutral platform while embracing decentralized and privacy-preserving technologies.
The announcement has stirred controversy within the crypto community. Critics argue that the current leadership has failed to manage Ethereum effectively.
“Respectfully, just let new blood take over. You guys can’t even make a simple Twitter account work—how can you be trusted to lead the second biggest blockchain,” Wazz posed.
Another user, Coinmamba, suggested that pressuring Miyaguchi to resign could result in Ethereum reaching new all-time high. Buterin strongly condemned these comments, defending Miyaguchi and calling out the toxicity of such social media rhetoric.
“No. This is not how this game works,” Buterin retorted. “The person deciding the new EF leadership team is me. If you ‘keep the pressure on,’ then you are creating an environment that is actively toxic to top talent. YOU ARE MAKING MY JOB HARDER,” the Ethereum co-founder lamented.
Buterin also refuted specific claims against Miyaguchi, pointing out inaccuracies in translations and misinterpretations of her statements. He reiterated the need for a “proper board” within EF to enhance governance.
ETH Price Performance. Source: BeInCryptoEthereum’s ETH token was trading at $3,305 as of this writing, representing a modest 0.2% surge since Wednesday’s session opened.
The VIX Fear Index for the US stock market stands at 18.63 today, with fear sentiment intensifying in the crypto market.
According to Cboe data, the U.S. stock market's VIX Fear Index stands at 18.63 as of today, down 0.86 points from the prior reading of 19.49, marking a decline of approximately 4.41%. Separately, per Alternative data, the Crypto Fear & Greed Index is at 12 today (compared to 17 yesterday), indicating intensifying extreme fear sentiment.
11 minutes ago
Bank of Japan Board Member: Should Accelerate Pace of Interest Rate Hikes If Upside Inflation Risks Intensify
Bank of Japan (BOJ) Policy Board member Naoki Tamura stated that if upside risks to price growth intensify further, the BOJ should not hesitate to accelerate the pace of interest rate hikes or raise rates by a larger margin. He projected that the BOJ will implement interest rate hikes every few months until its policy rate reaches the neutral level of around 2%. (Golden Ten)
11 minutes ago
Crypto token M plunged over 80% in a short period, hitting a low near $0.5.
According to HTX market data, the token M saw a sharp short-term price plunge, with its decline once exceeding 80% and hitting a low of around $0.5, and is now trading at $0.54.
11 minutes ago
Blockchain data infrastructure firm Cambrian has closed a $6 million funding round, jointly led by Franklin Templeton and Polychain Capital.
Blockchain data infrastructure project Cambrian has closed a $6 million seed round, co-led by Franklin Templeton and Polychain Capital, with participation from Flow Traders, Selini Capital, and other investors. The project previously raised a $5.9 million pre-seed round led by a16z Crypto Startup Accelerator, bringing its total funding to $11.9 million. Cambrian currently provides institutional investors and AI Agents with real-time and historical data APIs covering on-chain yields, risks, lending markets, and trading activities, and plans to further build a verifiable data oracle network. Official data shows it has indexed over $4.5 billion in lending TVL, tracks more than 320,000 DEX liquidity pools, and currently supports Base and Solana, with plans to expand to additional ecosystems including Ethereum. The funds will be used to expand on-chain data coverage, accelerate oracle network development, and team recruitment.
11 minutes ago
Whale 0xbilly pulled off another "buy high, sell low" move, exiting with a $220,000 loss in a single day.
According to EmberCN’s monitoring, whale address 0xbilly liquidated 2,409 ETH in the early hours of today when ETH fell to around $1,569.5, worth approximately $3.78 million, with a total loss of roughly $220,000. Notably, this batch of ETH was purchased just one day ago for about 4 million USDC, at an average price of approximately $1,660.2. The address also previously bought 7,768.5 ETH at a high of $2,254 in March this year, valued at around $17.51 million, and exited via stop-loss four days later, incurring a loss of roughly $800,000.
11 minutes ago
Two whales opened a short position worth approximately $90 million on the S&P 500.
According to monitoring by Onchain Lens, two whale addresses are building short positions on the S&P 500, with a combined position of approximately $90 million. Details are as follows: Whale address "0x469" has opened 6,500 S&P 500 short positions, using 20x leverage, valued at around $48 million, with a liquidation price of $8,413.66. Whale address "0x4ff" has opened 5,686.66 S&P 500 short positions, using 7x leverage, valued at around $42 million, with a liquidation price of $8,358.13.
Ripple’s RLUSD stablecoin is now available in the Cardano ecosystem through an integration by the cross-chain bridge Wanchain. This development comes amid the Cardano ecosystem’s plans to integrate more stablecoins on the network, while Ripple is also eyeing expansion of its stablecoin beyond the XRP Ledger (XRPL) and Ethereum.
Ripple’s RLUSD Now Available On The Cardano Network In an X post, Wanchain revealed that its cross-chain bridge now supports the RLUSD stablecoin. With the integration, users will be able to bridge the stablecoin directly from the XRPL network to the Cardano network. Furthermore, they can bridge the stablecoin from Ethereum to Cardano.
Additionally, users can bridge Ripple’s RLUSD stablecoin on XRPL or Ethereum to Wanchain and then route it from the bridge to the Cardano network. The bridge also enables bridging from the XRPL to the top Layer-1 network, Ethereum.
It is worth noting that RLUSD is currently issued natively only on the XRPL and Ethereum networks. However, Ripple announced plans last year to expand the stablecoin to Ethereum layer-2 networks, including Base, Optimism, Unichain, and Ink. The firm also noted that testing on these chains will begin in partnership with Wormhole.
RLUSD currently ranks as the 8th largest stablecoin, with a market cap of $1.5 billion. Most of the stablecoin’s supply currently sits on the Ethereum network, while 382 million tokens are in circulation on the XRP Ledger.
Boost For Cardano’s Ecosystem Ripple’s RLUSD becomes the second tier-1 stablecoin available to Cardano users, following USDC’s launch on the network earlier this year. It is worth noting that Cardano’s stablecoin market cap has climbed to $50 million following the launch of USDC.
The network’s DeFi TVL had also climbed when USDC launched on the network and could rise again, with network users now able to access RLUSD through the cross-chain bridge. Interestingly, Cardano’s founder, Charles Hoskinson, has long teased plans to integrate RLUSD natively into the network, though that has yet to happen.
Meanwhile, amid RLUSD gaining access to the Cardano ecosystem, Cardano stakeholder Input Output has put nine proposals forward in a bid to scale the network. Notably, none of them focuses on stablecoin integrations, with the highlight being the Leios upgrade, which developers aim to use to scale the network to 27 million monthly transactions by 2030.
Ripple’s US dollar-pegged stablecoin, RLUSD, can now move seamlessly across new networks following its integration with Wanchain’s bridge infrastructure. Users are now able to transfer RLUSD between the XRP Ledger, Ethereum, Cardano, and Wanchain networks, greatly improving cross-chain mobility. This marks a pivotal shift for Ripple, taking its stablecoin beyond the confines of its native platforms.
RLUSD gains momentum with Wanchain’s cross-chain bridgeAccording to an official statement from Wanchain, RLUSD is now transferable across multiple major blockchains via their bridge protocol. While RLUSD is minted natively on the XRP Ledger, the new integration enables its movement to Cardano, Ethereum, and Wanchain networks. Similarly, the Ethereum-based RLUSD can now traverse to Cardano and Wanchain using this infrastructure.
Currently, RLUSD is issued directly only on the XRP Ledger and Ethereum. However, the recent bridge integration lets users shift liquidity between blockchains without relying on centralized intermediaries. As stablecoins continue to gain traction in payments, trading, and decentralized finance (DeFi), such cross-chain compatibility becomes increasingly vital for users.
With this new support, RLUSD holders can move their assets from the XRP Ledger to Cardano through Wanchain’s infrastructure. RLUSD minted on Ethereum can also be integrated into the Cardano ecosystem via the same bridge. In addition, RLUSD available on the Wanchain network can now flow in both directions with Cardano.
Rising appeal of cross-chain bridgesWanchain has been focusing on interoperability and bridge solutions between blockchains for some time. The inclusion of RLUSD in its system brings Ripple’s stablecoin to a broader audience. Notably, Cardano has recently taken significant steps to expand access to dollar-backed assets within its ecosystem.
This bridge infrastructure also allows direct transfers between RLUSD on the XRP Ledger and Ethereum. For users managing liquidity across multiple blockchains, this reduces the hassle of executing additional swaps when navigating between various DeFi platforms and blockchain applications.
Ripple’s multi-chain stablecoin ambitionsThe integration supports Ripple’s multi-chain rollout strategy for RLUSD. Ripple previously disclosed plans to expand RLUSD over time to additional Ethereum-compatible layer-2 networks such as Base, Optimism, Unichain, and Ink. These deployments are currently being tested through a collaboration with Wormhole.
RLUSD has also made its way into the exchange landscape. Since early April, it has been tradeable on Coinone, allowing South Korean investors direct access to the stablecoin with Korean won. This move signaled Ripple’s entry into regulated stablecoin markets in Asia.
Beyond transfers, RLUSD has found new use cases in various applications. On the Bitrue exchange, it can now be used as collateral in futures markets, offering users a stable asset for leveraged trading and wider participation in derivative products.
Mastercard, meanwhile, is exploring options with RLUSD as part of its initiative to implement stablecoins into blockchain-based payment systems. While no formal launch has occurred yet, this reflects interest from major corporate players in utilizing Ripple’s stablecoin for institutional partnerships, beyond traditional token transfers.
Currently, RLUSD has achieved a market capitalization of roughly $1.5 billion, making it the eighth largest stablecoin in existence. While most tokens circulate on Ethereum, there are 382 million RLUSD in supply on the XRP Ledger. The Wanchain bridge integration has considerably broadened RLUSD’s access across multiple blockchains.
In its statement, Wanchain highlighted that by adding RLUSD to its bridges, it enables users to easily transition between important blockchains, aiming to increase RLUSD’s footprint within more diverse ecosystems.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
TLDR: RLUSD now moves across XRPL, Ethereum, and Cardano using Wanchain bridge infrastructure European banks plan a euro stablecoin using Ripple tech, expanding institutional blockchain use Ripple upgraded custody services with compliance tools and staking for institutional clients RLUSD adoption grows through pilots in payments, settlements, and multi-chain DeFi access Ripple’s RLUSD stablecoin continues to expand its reach as new infrastructure and institutional developments reshape its role in digital finance.
Recent updates show progress in cross-chain access, banking collaborations, and custody services, positioning RLUSD within evolving global payment networks.
Cross-chain expansion strengthens RLUSD accessibility RLUSD’s latest development centers on its integration with Wanchain’s bridge infrastructure. This upgrade allows
transfers between the XRP Ledger, Ethereum, Cardano, and Wanchain. As a result, users can move RLUSD without relying on centralized exchanges.
A recent tweet from CoinDesk reported that Wanchain added support for Ripple’s RLUSD stablecoin. The post noted that the bridge enables transfers across major blockchain networks. This update confirms RLUSD’s growing presence in multi-chain environments.
The bridge supports two-way transfers, which improves liquidity movement between networks. Users can send RLUSD from the XRP Ledger to Cardano or from Ethereum to Cardano. They can also reverse these transactions with minimal friction.
This setup reduces dependency on wrapped assets and intermediaries. Instead, RLUSD operates across ecosystems in a more direct manner. As liquidity moves freely, trading and decentralized finance activity may become more efficient.
Wanchain acts as a central hub connecting these blockchains. Through this role, it simplifies how assets move between networks. Therefore, RLUSD becomes easier to access for users operating on different chains.
The stablecoin currently holds a market capitalization of about $1.5 billion. Around 382 million tokens circulate on the XRP Ledger. Meanwhile, a larger share remains active on Ethereum, supporting its broader use.
Institutional adoption and infrastructure upgrades progress Beyond technical integration, RLUSD is gaining traction among financial institutions. European banks are preparing to launch a euro-backed stablecoin using Ripple’s technology. ING, UniCredit, and BNP Paribas plan to release it in late 2026.
This initiative focuses on regulated digital payments within the eurozone. It also introduces competition to dollar-based stablecoins. Ripple’s infrastructure will support settlement and transaction processing for the project.
At the same time, Ripple has upgraded its custody platform. The update includes real-time compliance monitoring and cloud-based security systems. These features aim to meet institutional requirements for digital asset management.
The platform also introduces staking capabilities. This addition provides institutions with more flexibility when managing digital assets. As a result, RLUSD becomes easier to integrate into treasury operations.
Institutional use cases are already being tested in real-world scenarios. RLUSD is part of pilot programs for real-time settlements with partners like Kyobo Life Insurance. It is also being explored for credit card settlement processes with Mastercard.
These developments align with Ripple’s broader multichain strategy. RLUSD is also undergoing testing on Ethereum Layer-2 networks such as Base, Optimism, and Ink. These efforts expand its potential use across scaling solutions.
As RLUSD moves across networks and gains institutional support, its role in payments and finance continues to evolve. Its presence across multiple chains and systems reflects ongoing efforts to increase utility and access.
Wanchain has integrated Ripple stablecoin, RLUSD, into its cross-chain bridge, expanding connectivity beyond the XRP Ledger (XRPL) and Ethereum.
Specifically, Wanchain now enables RLUSD to move seamlessly across additional networks, including Cardano. This upgrade strengthens the stablecoin’s utility and positions it as a more versatile asset within the multi-chain landscape.
Key Points Wanchain integrates RLUSD into its cross-chain bridge, expanding its reach beyond XRPL and Ethereum. The integration allows RLUSD to move across XRPL, Cardano, Ethereum, Wanchain, and several other routes. Ripple is currently making moves to expand RLUSD access to more networks, with mainnet deployment on Ethereum L2 networks like Optimism expected this year. RLUSD currently holds a $1.6 billion market cap, with trading volume surging over 91% in 24 hours to $80.45 million. Wanchain Expands RLUSD Availability Beyond XRPL and Ethereum In a tweet, Wanchain announced adding RLUSD to its bridge infrastructure, enabling smooth two-way transfers across multiple blockchains.
Consequently, users can now move RLUSD between the XRP Ledger and Cardano, XRPL and Wanchain, Ethereum and Cardano, Ethereum and Wanchain, Wanchain and Cardano, as well as XRPL and Ethereum. This expanded routing significantly enhances the token’s cross-chain accessibility.
Moreover, the integration highlights ongoing efforts toward a multi-chain financial system. Instead of operating in the Ethereum and XRPL ecosystems alone, RLUSD now circulates across interconnected platforms, improving liquidity flow and user flexibility.
Ripple Plans RLUSD Debut on Multiple Blockchains Meanwhile, the move aligns with Ripple’s strategy to extend RLUSD’s reach beyond its native ecosystems. That vision gained traction in December when Ripple partnered with Wormhole, leveraging its NTT token standard to expand the stablecoin to Ethereum Layer-2 networks, including Optimism and Base.
While testing remains ongoing, Ripple plans a full mainnet rollout once it secures the necessary regulatory approvals. Now, with Wanchain’s integration, RLUSD’s accessibility has widened further to include Cardano and Wanchain’s own network.
RLUSD Volume Spikes 91% Since its launch in December 2024, RLUSD has rapidly gained traction in the crypto market. It has secured listings on major exchanges, including Binance, Bitget, Kraken, HashKey, and Coinone.
Currently, RLUSD has a market cap of $1.6 billion, ranking it as the 44th-largest token globally and the eighth-largest stablecoin. In addition, its trading activity has surged, with volume jumping over 91% in the past 24 hours to reach $80.45 million—an indication of rising demand and market engagement.
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
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The Artificial Superintelligence Alliance (ASI) kicked off phase 1 of its token merger process. The project recently announced the beginning of the migration process with the delisting of Ocean Protocol (OCEAN) and SingularityNET (AGIX) from crypto exchanges. However, FET is facing some pressure following its rebranding and supply update.
ASI Token Merger Phase 1 Begins On July 1, the ASI alliance and Fetch.AI (FET) announced the multi-token merger to unify OCEAN, AGIX, and FET. As part of phase 1, withdrawals and deposits with OCEAN and AGIX would close in preparation for the migration to FET.
Additionally, the delisting process from crypto exchanges would begin for the two tokens. Meanwhile, FET would continue to trade as usual, with spot and perpetual trading continuing under the same tricker.
The initial phase of the merger aims to “onboard exchanges and data aggregators for a smooth transition.” Fetch.AI saw a rebrand across platforms. The project took the Artificial Superintelligence Alliance name and logo but kept its ticker.
Moreover, the ASI alliance opened a migration platform on the SingularityDAO dApp to help users migrate their tokens. Some crypto exchanges, including Kraken and Coinbase, revealed they would not support customers on the ASI token merger.
Kraken announced that the trading of OCEAN and FET will continue to be supported on the platform until further notice. The exchange also noted that users must withdraw their tokens to a self-custodial wallet to migrate them.
Similarly, Coinbase informed its users that it chose to “not execute the migration of these assets on behalf of users.” Both exchanges also clarified they would not support the eventual migration from FET to ASI.
FET Retraces Following Rebrand After updating the token’s name, supply, and market capitalization, FET flipped Render (RNDR) in the AI tokens sector. According to CoinMarketCap data, the token is now the 27th largest cryptocurrency by market cap, with $3.38 billion.
Following the rebrand, FET’s price dropped similarly to when the token merger delay news was released. At the time, the merging tokens saw an 8-10% price decline following the rescheduling of the merger. The delay was attributed to logistical and technical issues.
FET fell from the $1.4 support zone on Monday to $1.27, a 9.7% drop in 12 hours. However, the AI token has recovered the $1.3 mark, currently trading at $1.33, representing a 3.6% decline in the last 24 hours.
Some market watchers found this performance disappointing. Some investors believe it might be best not to get involved until the merger is completed. Sjuul Follings, crypto trader and founder of Alt Crypto Games expressed his disappointment with the token’s recent fakeout.
Per the trader, he was optimistic about the late June price action, believing the token was about to break out and expand ahead of the ASI alliance. Nonetheless, FET could not reclaim the $1.8 support zone and retraced to the $1.4 support level over the weekend.
Despite the bearish trend, investors remain optimistic about the token’s future as the merger’s phase 1 is only starting. Some investors forecast a short-term price target of $5 for ASI and a long-term goal of $13.
FET is trading at $1.33 in the weekly chart. Source: FETUSDT on TradingView Featured Image from Unsplash.com, Chart from TradingView.com
Crypto markets inch up slowly; Litecoin and Tezos on a charge, BSV falling further back. Market Wrap As we end another week in crypto land markets are starting to pick up a little. There has been no major breakout for Bitcoin yet but some of the altcoins are doing well and green is back in the tables. As a result total market capitalization is back over $250 billion again.
Yet again Bitcoin pushed just above $7,900 for an intraday high before pulling back. It subsequently dropped below $7,500 again hitting support for a double bottom. At the time of writing BTC is back to $7,900 trading flat on the day.
Ethereum has done virtually nothing over the past 24 hours and is still lulling just below $250. ETH is very unlikely to move until its big brother does, and it will definitely be in the same direction.
There is a little more activity in the top ten during today’s Asian trading action. Green dominates over red and Litecoin is the clear leader with a push of 10 percent to $113. Less than 60 days to the halving is driving momentum for LTC which is likely to climb higher in the coming weeks. Market cap has now surpassed $7 billion and it is very close to flipping BCH for fourth. XRP is the other mover today as it gains 5 percent as rumors of a MoneyGram buyout circulate. BSV continues to get dumped.
The top twenty cryptos have seen a lot of movement from Tezos which has surged 14 percent to $1.36. There does not appear to be a lot fundamentally feeding the fomo aside from rumors that Coinbase Custody is loading up on XTZ. The rest in this section are a percent or two in either direction today.
FOMO: Metaverse ETP Pumps ETP is getting another spike today as it rises 16 percent following a recent Finwise event in Hong Kong. Aside from Tezos, HyperCash is also doing well gaining 13 percent on the day and Decentraland is up 11 percent.
Getting dumped at the messy end of the crypto top one hundred is Maximine Coin sliding 18 percent. Yesterday’s pump, SOLVE, is today’s dump as it drops 14 percent and the crypto stalwart MaidSafeCoin is losing out on the day sliding 11 percent.
Total market cap 24 hours. Coinmarketcap.com Total crypto market capitalization has picked up marginally, adding $3 billion to reach $253 billion. Volume is at $70 billion and the minor move not been enough to signal a wider break out yet. All eyes are still on Bitcoin which has dropped back in dominance slightly at the expense of Litecoin.
Market Wrap is a section that takes a daily look at the top cryptocurrencies during the current trading session and analyses the best-performing ones, looking for trends and possible fundamentals.
Crypto markets falling back on Monday; BSV, XRP, and Tron dropping back, Litecoin and NEO stay afloat. Market Wrap Crypto markets are seeing red as we begin another trading week. Most of the majors are in decline following Bitcoin’s failure to hold gains and break $8,000. Total market capitalization has dropped below $250 billion and is poised to fall further as the selloff accelerates.
Bitcoin has dumped 2.5 percent on the day falling from just under $8k down to support at $7,500. BTC recovered a little during early Asian trading but is still down on the day trading at around $7,700. A big bearish signal was given by the weekly candle which was biggest drop since December at almost 11 percent.
As expected Ethereum is faring no better with a slide of over 3 percent down to $235. There is strong support around the $210 area and it could soon be there if analysts are correct.
The rest of the top ten is in the red as crypto declines increase. Bitcoin SV has dropped the most at over 6 percent falling back to $183. XRP is not far behind with over 4 percent lost as the Ripple token falls below $0.40 again. Bitcoin Cash, Binance Coin and Stellar are not doing much better. Litecoin has remained steady as halving fomo continues to drive LTC higher.
Top twenty losses are marginally greater with Tron dumping the most at over 5 percent. IOTA, Cosmos and Ethereum Classic are all losing around 3 percent and NEO is the only altcoin in the green adding 2 percent to remain over $12.
FOMO: Nebulas Skyrockets A massive dose of fomo has hit NAS today as it shoots up 45 percent. The autonomous smart asset platform does not appear to have anything fundamentally driving it aside from yesterday’s Nebulas Council Election Assistance Campaign launch;
Also getting a pump today is GXChain which has surged 36 percent and NULS up almost 20 percent. At the messy end of the crypto top one hundred is HyperCash dumping 13 percent while Ravencoin gets hit 9 percent on the day.
Total market cap 24 hours. Coinmarketcap.com Total crypto market capitalization has declined $5 billion since this time yesterday. It is now at $247 billion with a daily volume of $62 billion. Over the week markets are down 8.5 percent as over $20 billion has left the space. With Bitcoin poised to fall further the pain is likely to continue this week.
Market Wrap is a section that takes a daily look at the top cryptocurrencies during the current trading session and analyses the best-performing ones, looking for trends and possible fundamentals.
Want to steal some Bitcoin? All you need to do is find your victim’s 16-character public key and calculate their private key by solving something called an “elliptic curve discrete logarithm problem.” No sweat! With a regular computer, that’ll take you around 50 million times the amount of time the universe itself has left—around 0.65 billion billion years.
Ah, but with the right quantum computer, able to process information at speeds exponentially faster than today’s supercomputers? Suddenly, what seems uncrackable becomes child’s play, able to be broken in under 10 minutes.
The quantum-computing problem is nothing new to crypto, and many experts believe we have at least a decade or more to come up with quantum-resistant cryptography. However, some observers say that recent and unexpectedly fast advances are causing the time horizon to dramatically shrink. The most aggressive estimate says that bitcoin will be hackable by 2027, according to Fact Based Insights.
“We moved the state of the art more in the last two years than it has progressed in the last 15 or 20,” says Stewart Allen, Chief Operating Officer at IonQ, a company that claims to make some of the most powerful quantum computers in the world, in an interview with Decrypt.
On Thursday, top cryptographers will meet in Santa Barbara at the University of California for the National Institute of Standards and Technology (NIST) Post Quantum Cryptography semi finals. The finalists of the NIST competition will be announced in the months after the conference, though it might take years before the winner is annointed. Cryptographers say the standards that result represent blockchain’s best hope for resisting the rapidly encroaching power of quantum computers.
”If someone cracked your key, they could do anything they wanted,” Rob Campbell, President at Baltimore,Maryland-based Med Cybersecurity, told Decrypt. Anyone with sensitive information on the blockchain—cash, personal data, medical records—is at risk. With that sort of information, quantum hackers could “forge your name, take your assets,” and, if there’s medical data to be found, maliciously “triple your dose,” said Campbell. “It’s an open door.”
Take the Bitcoin blockchain: an unencrypted public key is sent along with every bitcoin transaction, and left unencrypted during the time it takes for the network to confirm the block, around ten minutes. That’s theoretically more than enough time for a quantum-equipped hacker to calculate a private key from the public key and replace the recipient’s address with his own.
Que Quantum?
Transistors in conventional computers capture data in terms of 1s and 0s. Is the sky blue today? If it is, 1. If not, 0. Computing is essentially combinations of these calculations: have enough transistors, you can compute almost anything.
With quantum computers, it’s possible for the same input, called a qubit, to represent both 0 and 1 at the same time, a non-binary state known as “quantum superposition”—think Schrödinger's dead-and-alive cat. This makes quantum computers exponentially more powerful; one lone, superpositioned qubit can handle the processing load of at least two full-sized transistors on a regular computer.
Using modified versions of “Shor’s algorithm,” a quantum algorithm that rapidly turns large numbers into prime factors, hackers could reverse the process that makes private keys so difficult to crack.
But at the moment, the best quantum computer is probably Google's Bristlecone quantum computer, which has 72 qubits. Miruna Rosca, a PhD student in post-quantum cryptography, tells Decrypt you’d probably need around 4000 qubits to break current cryptographic algorithms.
So how long do we have?
IonQ’s Allan, who creates quantum computers for a living, speculates it’ll take about a decade for post-quantum cryptography to become an issue. By then, he reckons, someone will probably have developed a quantum-resistant blockchain. Danny Ryan, a core researcher at Ethereum, thinks the same: “This isn't really a meaningful problem in the next 10 years and likely not for 20 to 30. That said, we tend to be bad at estimating things like this so we should be ready to transition sooner rather than later.”
But others say the problem requires immediate attention, and that—beyond the threat to Bitcoin—quantum computing could pose a major cybersecurity threat. Med Cybersecurity’s Rob Campbell says that a government armed with quantum decryption software could read all the world’s secrets.
A U.S. Navy signal officer by training, Campbell’s time in the classified research and development world has taught him that secret government technologies often outpace commercially available technology. “We were decades ahead of the commercial world,” he said. “We didn’t want any potential adversaries to know what our capabilities are.”
Even if Campbell’s claims seem ambitious, he points out that if an enemy security agency scrape all of your encrypted data today—which they certainly could—they’ll be able to decrypt all that data once they’ve built a powerful enough quantum computer. That’s enough to make developing quantum-resistant cryptographic techniques an issue of national security.
In any case, the arms race for quantum supremacy is well underway: China just spent $10 billion on a research center for quantum computers, and the U.S. has pumped hundreds of millions of dollars into the field.
Quantum-resistant techniques
Quantum computing can be just as effective for cryptographers as it is for hackers. Unobserved, superpositioned particles exist in multiple states, but when detected, they “collapse” to one point in space-time. Quantum cryptography has the same properties; because the protons that make up an encoded transaction shift upon observation, a successful attacker would have to break the laws of physics to intercept it.
This makes information encoded at the quantum level resistant to, among other things, so-called “man in the middle attacks,” where attackers intercept the transmission itself without having to decrypt the key.
A few blockchains claim to apply quantum-resistant techniques to ensure signatures and hashes remain encrypted, including QRL, IOTA, HyperCash, and Starkware. But with quantum computing still in its formative years, it’s difficult to determine the strength of these claims.
Until a quantum-resistant algorithm is tested and accepted by the wider academic community, there’s no assurance that any of these blockchains will be resilient enough against quantum computers. Scientists like Campbell are waiting on the results of next week’s NIST competition at UCAL-Santa Barbara; the final winners might not be announced for a few years, however. NIST tentatively expects drafts for standardisation will be completed around 2022.
“These winners are considered to be the best candidates on Earth and will likely go on to be standard cryptography and will be used by most of the planet,” says Campbell.
But developing the algorithm might not be the difficult part for large blockchains like Ethereum or Bitcoin. Whereas owners of centralized protocols can update the system as they please, blockchains, democratic by nature, require broad consensus among many thousands of miners to pass an upgrade.
In the case of an upgrade, all wallets that aren’t quantum-resistant become vulnerable to attack. That includes the 1 million bitcoins mined by Bitcoin’s pseudonymous inventor, Satoshi Nakamoto—if those aren’t migrated to a new, quantum-resistant wallet, they’re treasure for the first person with a powerful enough quantum computer.
“If high powered quantum computers appeared tomorrow,” said Ethereum’s Ryan, “we'd have many more problems than just the security of our blockchains.”
A 2019 National Academy of Sciences report concludes that, even if quantum computing is about a decade off, prioritising research is necessary to minimize “the chance of a potential security and privacy disaster.” Best get cracking, then.
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Back in 2009, Satoshi Nakamoto probably wasn’t overly concerned about advancements in quantum computing when he developed Bitcoin’s key encryption. Even now, quantum computing is still quite far off adoption levels that could be classed as mainstream, with only a handful of companies possessing the technology. But developments do mean that the threat that quantum computing poses to blockchains is starting to become real.
Currently, the key encryption used by blockchains such as Bitcoin and Ethereum is what keeps funds safe. Key encryption relies on a mathematical principle known as prime number factorization, which links the public and private key. The private key is based on prime numbers that are multiplied together to form the public key. Beyond numbers of a certain size, it becomes near-impossible to work out which prime numbers were multiplied together to generate the public key.
Current encryption standards use a length of 309 digits. This number is based on research that took place in 2009, where a single computer was used to try and factor a prime number 232 digits long. It took the equivalent of 2,000 years, which, believe it or not, was deemed too risky. So, the 309 standard prevailed.
Quantum computers can conduct many more thousands of calculations per second than current machines can handle, even considering the network effect of blockchains. The scary thing is that the pace of development now means that it’s likely that quantum computers could soon break the 309 digit encryption that’s used across many modern systems today - including many blockchains.
So Why Is This a Blockchain Problem? In terms of the quantum risk, blockchains are in a uniquely dangerous position due to the fact they’re decentralized. Any centralized entity can upgrade its encryption standards to a quantum-resistant level. But upgrading all of the active wallet addresses in a blockchain network is a more challenging effort.
Because it is an evolving technology, in the future we will need more and more powerful CPUs in order to speed up some of the core functions like the Bitcoin Hash and to make transaction faster and safer, in particular because every day more new people want to buy and invest in cryptocurrency.
Consider that currently, on any given day, the Bitcoin blockchain alone averages around 300-400k transactions. Each time a transaction is sent, the public key is exposed for the duration between the sending and the block confirmation. In this time, which averages 10 minutes, a quantum computer could have the opportunity to brute-force the private keys for all the transactions in each block. If they succeed, they could swipe the funds the second they reach the recipient address.
But it’s not all doom and gloom. Several projects are currently developing quantum-resistant blockchains that are more likely to be future-proof, should the quantum threat come to fruition. All of them have done away with prime number factorization in favor of post-quantum cryptographic methods.
QRLQuantum Resistant Ledger (QRL) was the first blockchain project to set out to become quantum-resistant. It has a singular vision - to ensure quantum resistance. QRL uses Extended Merkle Signature Schemes (XMSS) in place of prime number factorization for the generation of key signatures. This involves generating key pairs using cryptographic hashing. It’s a similar idea to block hashing in a blockchain.
QRL key pairs are single-use and are tied together in a Merkle tree - again, a similar method to what Bitcoin uses to group transactions. By using hash-based cryptography, QRL signatures are more resistant to quantum attacks.
Currently, QRL only operates as a cryptocurrency; however, future upgrades are planned that will introduce smart contract functionality.
QANIn contrast to QRL, QAN is developing a full-featured quantum-resistant smart contract platform straight off the bat. It’s also using a different variant of post-quantum cryptography called lattice-based cryptography, which is believed to provide some of the strongest quantum-resistance.
The underlying theory and calculations demonstrate this robustness and have been in development by mathematicians for over a decade now. So far, QAN is the only platform that has developed this work into a practical solution. QAN has also baked this quantum-resistance into its smart contract transactions, by requiring the lattice-based signatures for every single transaction on the network.
Other features include fixed transaction prices in fiat currency, designed to make the platform more attractive to enterprises. The fact that QAN is a permissioned ledger will also help its enterprise appeal. Furthermore, it offers multi-language programming support, meaning developers can write applications in languages already familiar to them.
HyperCashHyperCash, also known as HCash, also uses lattice-based signatures. They’re of a different variant to QAN, but with the same goal of achieving quantum resistance.
HyperCash aims to become an interoperability solution, enabling the transfer of cryptocurrencies and other digital assets between blockchains. It achieves this by operating two chains, one main chain called HyperCash, and a second chain called HyperExchange, which focuses on the interoperability.
HyperCash is firmly targeted towards the crypto purists, operating a decentralized autonomous governance model, and using the same zk-SNARKs protocols as privacy coin zCash.
Despite that the quantum threat could still be years off, it’s critical that today’s blockchain solutions are starting to future-proof themselves. As it gets closer, there’s every chance that crypto users will start clamoring for quantum-proof solutions. Therefore, it’s reassuring to know that at least some projects are taking this seriously. If Bitcoin really is under threat, then it may only be a matter of time before individuals and institutions start a mass exodus towards its quantum-resistant cousins.
Zcash has completed a two-phase emergency network upgrade to fix a critical vulnerability in its Orchard shielded pool — a flaw that sat undetected for four years, could theoretically have allowed unlimited undetectable counterfeit ZEC creation, and triggered a 50% price collapse before the network’s swift response began restoring confidence and driving a recovery in ZEC’s price.
Josh Swihart, CEO of Electric Coin Company — the primary developer of Zcash — posted on X on June 7 confirming the fix was complete and the network secure, as ZEC began its recovery from the lows reached after the vulnerability’s disclosure.
The post arrived at a critical moment for the asset: ZEC had crashed approximately 50% from a June 4 peak of $624 to $309 on June 5, wiping more than $3 billion from its market capitalization, per the BitMEX Blog’s documented timeline of the incident.
ZEC's price trends to the upside over the past 48 hours, as seen on the daily chart. Source: ZECUSD on Tradingview How The Zcash Bug Was Found — And What It Was The vulnerability was discovered on May 29, 2026 by security researcher Taylor Hornby during a protocol audit commissioned by Shielded Labs. Hornby identified a “soundness” flaw in Zcash’s Orchard zero-knowledge proof circuit — specifically an under-constrained element in the Orchard Action circuit that could allow invalid state transitions, creating a theoretical double-spending risk within the shielded pool.
The discovery was made using Anthropic’s Claude Opus 4.8 AI model alongside a custom analysis suite, per Shielded Labs’ official disclosure. Hornby and the AI developed a working proof-of-concept that successfully generated unlimited, completely undetectable counterfeit ZEC in a local test environment — described by one independent analyst as “about the worst kind of bug a cryptocurrency can have,” per Yahoo Finance’s reporting of the disclosure.
Critically, the flaw did not permit inflation of the total ZEC supply on the live network. Zcash’s internal turnstile accounting mechanism — which tracks the total value moving into and out of the shielded pool — confirmed no unauthorized value creation occurred while the flaw was active, per Shielded Labs’ official statement.
However, the organization acknowledged directly that due to the privacy properties of Orchard and the nature of the bug, there is no definitive cryptographic way to determine whether exploitation occurred — a limitation inherent to the shielded pool’s design that became its own source of market concern. The vulnerability had been present since Orchard’s activation in May 2022 — four years — without detection.
The Emergency Response Zcash’s development ecosystem responded with unusual speed. The first phase was an emergency soft fork deployed through Zebra 4.5.3, activated at block 3,363,426 on June 2, which temporarily disabled all Orchard transactions to remove the attack path while developers prepared the permanent fix.
Transparent and Sapling transactions continued operating normally throughout, per the Zcash Foundation’s official announcement on X. The second phase arrived on June 3 through the NU6.2 hard fork — activated at block 3,364,600 via Zebra 5.0.0 — which introduced a corrected circuit and a new verifying key, patching the flaw and re-enabling Orchard transactions, per the Foundation.
The market’s initial reaction to the hard fork was positive. ZEC rose from $544 on June 2 to $603 on June 3, continuing to $624 on June 4 — its highest level since the rally began. Then Arthur Hayes publicly disclosed he had exited his entire ZEC position intraday on June 4 — the same day as the peak — citing five macro factors including higher energy prices and upcoming AI IPOs, per his X post covered in prior reporting. The combination of Hayes’ exit and lingering uncertainty about whether exploitation had occurred before the patch sent ZEC to $309 on June 5.
The Recovery And What It Means Swihart’s June 7 X post — reassuring the community that total ZEC supply remained intact throughout and that the network had passed through the emergency without confirmed exploitation — appears to have been the catalyst for the recovery now underway. The swift two-phase response, combined with the Foundation’s transparent disclosure and Swihart’s direct communication, provided the confidence signal the market needed.
This development marks a pivotal and genuinely uncomfortable moment for Zcash’s long-term positioning in the nascent sector. A four-year-old vulnerability in the Orchard pool — the very component that defines ZEC’s core privacy value proposition — has been fixed cleanly and without confirmed exploitation.
But the structural irony that the privacy properties that make Zcash valuable also make it impossible to confirm the vulnerability was never used will remain a question mark the community will need to address as the recovery continues.
As of this writing, ZEC trades at around $430, recovering from its June 5 lows as confidence in the network’s security response gradually rebuilds.
Cover image from Grok, ZECUSD Chart from Tradingview
A crypto wallet that may belong to BitMEX co-founder Arthur Hayes has purchased 3,000 ETH worth roughly $5.42 million just after a US-Iran peace deal lifted sentiment across digital asset markets.
Hayes-Linked Wallet Received 3,000 ETH According to Lookonchain, the wallet possibly tied to Hayes received the 3,000 ETH from market maker Flowdesk on June 15. “A wallet possibly linked to Arthur Hayes received 3,000 ETH ($5.42M) from Flowdesk an hour ago,” the on-chain tracker wrote on X.
The purchase stands out given Hayes’s recent posture. Over the past two weeks, the Maelstrom chief investment officer had been cutting risk aggressively.
In his “Reality Test” essay published June 8, he liquidated his Hyperliquid, Near Protocol and Worldcoin holdings and exited Zcash, calling the moves defensive. He framed the selling as macro de-risking rather than a loss of faith in the projects, and kept Bitcoin and Ether as core holdings.
Even while trimming altcoins, Hayes has stayed structurally bullish on Ethereum. In a June 2026 thesis, he projected ETH reaching $10,000 to $20,000 before the end of the current cycle, citing macro liquidity expansion and Ethereum’s role as the collateral layer for DeFi.
The timing also comes amid a shift in the macro backdrop. On Sunday, President Trump declared the Iran deal complete, authorizing the reopening of the Strait of Hormuz and the removal of the US naval blockade, with a formal signing ceremony set for June 19 in Switzerland.
Bitcoin Tops $66.5K as Trump Says Hormuz Shipping Resumes As reported, Bitcoin surged past $66,500 on Monday after Donald Trump posted on Truth Social that maritime traffic through the Strait of Hormuz had resumed more freely. He wrote that ships, many loaded with oil, were moving out of the strait along a southern route he described as safe and secure.
The remarks signaled improving shipping flows through a critical chokepoint for global crude, sparking a risk-on mood that pushed BTC up 3.5% to $66,570 at press time, leading gains across major cryptocurrencies.
Crude oil prices, meanwhile, dropped 5.13% to $80.53 per barrel. The inverse relationship matters. When oil spiked above $100 during the height of the conflict, Bitcoin had crashed below $60,000 as capital fled risk assets. With supply fears now easing, some analysts believe the strait’s reopening could have a lasting positive effect on Bitcoin and the wider crypto market.
Still, the broader market reaction has been guarded. Traders remain skeptical of a lasting turnaround, with more than $4.8 billion having exited US Bitcoin ETF products since May, and previous Middle East ceasefires this year collapsed before holding.
Ethereum has surged nearly 6% and attracted fresh whale buying after a reported U.S.-Iran peace agreement improved risk sentiment across global markets.
Summary
A wallet reportedly linked to Arthur Hayes received 3,000 ETH worth $5.42 million as Ethereum rallied following news of a U.S.-Iran peace agreement. Ethereum climbed nearly 6%, while another whale, geministar.eth, accumulated 21,136 ETH worth about $37 million from Binance. Technical indicators show ETH breaking above a multi-week downtrend, with analysts eyeing the $1,850-$1,860 resistance zone. According to on-chain tracker Lookonchain, a wallet possibly linked to BitMEX co-founder Arthur Hayes received 3,000 ETH worth approximately $5.42 million from market maker Flowdesk on June 15. The transfer came as Ethereum rallied alongside other cryptocurrencies following signs that tensions in the Middle East may be easing.
The purchase follows a period in which Hayes had been reducing exposure to several altcoins. In his June 8 essay titled Reality Test, the Maelstrom chief investment officer disclosed that he had sold positions in Hyperliquid, Near Protocol, Worldcoin, and Zcash.
Hayes described the moves as a defensive response to macroeconomic risks rather than a rejection of those projects, while noting that Bitcoin and Ethereum remained among his core holdings.
Ethereum extends gains as risk appetite returns Support for risk assets strengthened after U.S. President Donald Trump announced that a peace deal with Iran had been completed. Trump said shipping traffic through the Strait of Hormuz had resumed and that vessels carrying oil were once again moving through what he described as a secure route.
The development triggered a sharp decline in energy prices. Crude oil fell more than 5% to around $80.53 per barrel, easing concerns that disruptions in one of the world’s most important energy corridors could fuel inflation and weigh on financial markets.
Ethereum responded strongly to the change in sentiment. At press time, ETH traded near $1,828 after climbing almost 6% over the previous 24 hours. The move pushed the asset to its highest level in more than a week and helped it outperform several major cryptocurrencies during Monday’s session.
Large investors appeared to be adding exposure during the rally. Separate data shared by Lookonchain showed that wallet address geministar.eth purchased 21,136 ETH worth roughly $37.05 million from Binance through a series of transactions on June 15.
Technical indicators point toward $1,850 test Price action has also improved from a technical perspective. On the daily chart, Ethereum has broken above a descending trendline that had capped rallies since late April. The move places ETH above the upper boundary of a bearish flag structure that had formed during the decline from roughly $2,400.
Ethereum daily price chart — June 15 | Source: crypto.news Momentum indicators have started to recover as well. The daily MACD has produced a bullish crossover, while the Chaikin Money Flow indicator has been moving higher, signaling that selling pressure is fading.
Additional upside could depend on whether Ethereum clears a key resistance zone near the 0.618 Fibonacci retracement level around $1,858. A successful move above that area would strengthen the argument that the recent breakout is invalidating the bearish flag pattern rather than confirming it.
Meanwhile, crypto analyst Ali Martinez pointed to a potential ascending triangle breakout on Ethereum’s four-hour chart. According to Martinez, confirmation of the pattern projects a move toward $1,850, placing the target almost directly in line with the resistance area currently being tested.
Even before the latest purchase, Hayes had maintained an optimistic outlook on Ethereum. In a June market thesis, he projected that ETH could reach between $10,000 and $20,000 before the current market cycle ends, citing expected liquidity growth and Ethereum’s position within decentralized finance.
Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.
TLDR:Arthur Hayes ETH Purchase Emerges Through Flowdesk OTC TransferEthereum Trading Activity Picks Up as ETH Gains Momentum Arthur Hayes received 3,000 ETH worth about $5.42 million through a Flowdesk OTC transaction. On-chain records linked the transfer to a wallet previously associated with the BitMEX co-founder. The OTC structure reduced order book impact and avoided visible exchange-based buying pressure. Ethereum’s recent price strength has increased attention on large wallet accumulation activity. Arthur Hayes has added 3,000 ETH to a wallet linked to him, according to newly surfaced on-chain data. The transaction carried an estimated value of $5.42 million at the time of transfer.
Data shows the Ethereum was routed through Flowdesk’s over-the-counter trading desk rather than a public exchange. The move arrives as ETH records a strong daily gain and renewed activity across crypto trading markets.
Arthur Hayes ETH Purchase Emerges Through Flowdesk OTC Transfer Blockchain tracking data shared by Hupzy and sourced from Lookonchain showed a wallet associated with the BitMEX co-founder receiving 3,000 ETH.
📈 𝗔𝗿𝘁𝗵𝘂𝗿 𝗛𝗮𝘆𝗲𝘀 has purchased 𝟯,𝟬𝟬𝟬 𝗘𝗧𝗛 (~$𝟱.𝟰𝟮𝗠) via Flowdesk OTC, according to on-chain data. A wallet linked to the BitMEX co-founder received the ETH roughly an hour ago.https://t.co/xU3uC6VXE8
𝗛𝘂𝗽𝘇𝘆 𝘁𝗮𝗸𝗲: Hayes has a track record of large,… pic.twitter.com/XeA3xEQPCM
— Hupzy (Spot On Chain) (@hupzy_agent) June 15, 2026
The transfer occurred roughly one hour before the transaction was highlighted on social media. On-chain records indicate the assets were delivered through Flowdesk’s OTC infrastructure.
Unlike exchange-based purchases, OTC transactions allow large buyers to acquire assets without placing sizable orders on public order books.
That approach can help reduce market impact during execution. It also limits visible buying pressure that often accompanies large spot purchases.
The wallet identified in the transaction has been linked to Hayes through previous blockchain activity. The transfer therefore attracted attention across crypto trading communities.
According to the data shared by Hupzy, the transaction was valued at approximately $5.42 million based on prevailing Ethereum prices.
The purchase follows a period of heightened volatility for ETH, which posted a double-digit gain over the previous 24 hours.
Hayes has previously made large directional Ethereum bets, making his wallet activity closely watched by market participants.
Ethereum Trading Activity Picks Up as ETH Gains Momentum The OTC route used for the transaction stood out because it avoided immediate interaction with exchange liquidity.
Market participants often use OTC desks when executing large orders that could otherwise create price slippage.
Hupzy noted that the Flowdesk transaction structure reduced the likelihood of moving the market during execution.
Because the trade occurred away from public order books, no additional spot selling pressure emerged from the transaction itself.
Ethereum continued trading above recent consolidation levels following the transfer. Recent market action placed attention on the $2,450 to $2,500 range identified in the shared market commentary.
While the transaction represents a notable purchase, the data reflects activity from a single wallet rather than a broader market trend.
Lookonchain’s tracking data and Arkham-linked wallet records remain the primary sources confirming the transfer.
The development adds another closely watched Ethereum transaction to a market already seeing increased trading activity and renewed attention toward large on-chain movements.
A wallet associated with Arthur Hayes purchased about $5.4 million worth of Ethereum following positive changes in geopolitics. This happened after weeks of portfolio risk reduction, during which Hayes sold off some altcoins while retaining faith in Ethereum. BitMEX co-founder Arthur Hayes has been indulging in Ethereum accumulation, drawing the attention of institutional investors. According to Lookonchain, a wallet linked to Hayes received 3,000 ETH worth around $5.4 million from market maker Flowdesk. This transaction was seen to have occurred after optimistic geopolitical developments. Also, this move has lifted the market sentiment across worldwide financial and digital asset markets.
This move gained traction as Hayes had previously decreased his exposure to several high-risk cryptos. He had made such moves in the preceding weeks with Hyperliquid, Near Protocol, Worldcoin, and Zcash, due to macroeconomic factors. He stated that these moves were made purely as a defensive play rather than a lack of confidence in crypto markets.
According to market observers, the current Ethereum purchase is quite different from what Hayes has been doing lately, which involves risk aversion. Moreover, the purchase was made against a backdrop of positive sentiment in the markets due to the conflict settlement surrounding Iran.
Ethereum Buys Amidst Positive Risk Sentiment The recent purchase of Ethereum came amidst the uptick in crypto assets. And, among the positive indications of smoother shipment in the Strait of Hormuz region. Also, the price of oil decreased, further improving risk appetite for investors. It is important to note that prices of energy commodities usually play a big role in inflation expectations.
While making some changes to their investment portfolio recently, Hayes continues to see a bright future for Ethereum. His view of Ethereum was associated with its function as a part of decentralized finance and blockchain technologies.
Traders keep analyzing whether positive economic factors could bring recovery to the cryptocurrency market. Monetary policy decisions, geopolitics, and other similar factors are taken into account when investors assess how favorable the situation regarding market liquidity is. As a consequence, new purchases of ETH made by Hayes are also a very significant signal for the digital asset market.
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