Ethereum’s well-known MEV bot JaredFromSubway was drained after an attacker used contracts that made its automated trading system grant token approvals, according to Blockaid.
Summary
Blockaid says attacker-controlled contracts tricked JaredFromSubway’s automated system into granting approvals later used for draining. Jared publicly claimed a $15 million loss, while Blockaid’s public estimate stood near $7.5 million. Crypto.news previously tied JaredFromSubway to Vitalik Buterin’s swap and heavy Ethereum gas use in 2023. The security firm said the incident was not a normal phishing case and not a direct bug in the victim contract.
“This is not a classic phishing attack and not a traditional smart-contract vulnerability in the victim contract,” Blockaid said.
The firm said the bot approved attacker-controlled contracts during routes that appeared to be profitable MEV trades.
Blockaid says approvals stayed open Blockaid said the attacker first tested routes where approvals were used at once, leaving no open allowance. Later, the attacker changed the route design so the bot gave approvals that were not spent or revoked.
One example cited by Blockaid involved an approval of about 92.16 WETH to an attacker helper contract. Etherscan data for the transaction showed jaredfromsubway.eth interacting with its MEV Bot 2 contract before the later sweep. The transaction record also showed ERC-20 movements tied to the same automated route.
Final sweep hit WETH, USDC and USDT The final transaction used the open approvals to pull WETH, USDC and USDT from the JaredFromSubway MEV bot contract through transferFrom. Etherscan showed transfers from “jaredfromsubway: MEV Bot 2” to the attacker wallet beginning with 0x3e37.
Blockaid put the drained amount at about $7.5 million. The JaredFromSubway account later claimed the loss was $15 million and offered a $1 million bounty for the full return of the funds. That difference has not been fully explained in the public posts reviewed.
How the attacker turned the bot’s logic against it The attack appears to have targeted the bot’s own trading workflow. MEV bots watch Ethereum activity and act on transactions that look profitable. In this case, attacker-controlled contracts made the route look useful enough for the bot to approve spending rights.
The attacker used 66 fake token contracts that copied the look and function of WETH, USDC and USDT. These contracts were paired with fake liquidity pools. The setup pushed the bot toward approvals that later became the path for the drain.
JaredFromSubway’s record is back in focus JaredFromSubway is one of Ethereum’s most watched sandwich bots. In a sandwich attack, a bot places trades before and after a user’s swap. This can give the user a worse price while the bot captures the spread.
As previously reported by crypto.news, JaredFromSubway targeted a small swap by Ethereum co-founder Vitalik Buterin in April, using about $1.14 million in WETH volume across SushiSwap and Uniswap V2. Crypto.news also reported in 2023 that the bot used 455 ETH in gas within 24 hours and accounted for about 7% of Ethereum gas use during that period.
The exploit now puts attention on token approvals used by automated systems. The case shows how a system built to act quickly on open market data can be steered into unsafe permissions when controls around approvals are weak. It also adds a new chapter to the wider debate over MEV, sandwich trades and user protection on Ethereum.
For now, the key public details remain split between Blockaid’s technical thread, the on-chain records and posts from the JaredFromSubway account. No recovery had been confirmed in the reviewed updates.
An attacker drained more than $7.5 million from the notorious Ethereum MEV bot jaredfromsubway.eth by exploiting its automated trading logic rather than a traditional contract bug or phishing scam.Over several weeks, the attacker lured the bot into approving malicious helper contracts via fake tokens and liquidity pools that mimicked assets like WETH, USDC and USDT, then used those open approvals to pull funds and route some through Tornado Cash.The incident underscores both the scale and risks of industrialized sandwich-bot activity—jaredfromsubway.eth has been responsible for roughly 70% of Ethereum sandwich attacks, which cost traders about $60 million a year—by showing how machine-speed, pattern-based systems can themselves be turned into victims.Jaredfromsubway.eth, one of Ethereum’s most infamous MEV bots, has been drained for more than $7.5 million after an attacker turned the bot’s own automated trading logic against it.
The bot is known for sandwich attacks, a form of maximal extractable value, or MEV, in which an automated trader spots a pending transaction, buys ahead of it, lets the victim trade at a worse price, then sells immediately after.
The result is a small hidden tax on users that can add up across thousands of trades.
Sandwich attackers aren’t typically a form of exploit but are looked upon in crypto circles as a type of predatory behavior, which skims value from users, leads to a spike in gas fees and doesn’t benefit either the network or the user.
Security firm Blockaid said Saturday’s incident was not a normal phishing attack and not a simple bug in the victim contract. The attacker instead targeted the bot’s decision-making system.
The setup was built over several weeks, where the attacker deployed dozens of fake token contracts and fake liquidity pools - a term for a pile of tokens locked on a decentralized exchange - that looked like profitable trades. Some mimicked familiar assets such as wrapped ether (WETH), and dollar-pegged stablecoins USDC and USDT.
That bait did what it was supposed to do. Jaredfromsubway.eth’s bot saw what looked like MEV opportunities and generated approvals for attacker-controlled helper contracts to spend tokens on its behalf. Those approvals were used immediately as part of the trade in earlier tests, but later, the attacker created routes where the approvals stayed open.
This left the attacker with standing permission to pull funds. And they used those open approvals to transfer WETH, USDC and USDT out of Jaredfromsubway.eth’s contracts, draining more than $7.5 million.
Some of the stolen funds were later sent to Tornado Cash, onchain data reveiwed by CoinDesk showed.
The irony was hard to miss, meanwhile.
Jaredfromsubway.eth has long been one of the most visible symbols of toxic MEV on Ethereum. Sandwich attacks cost Ethereum traders about $60 million a year, with 60,000 to 90,000 attacks per month between November 2024 and October 2025.
Roughly 70% of those attacks were associated with Jaredfromsubway.eth, who has been active since early 2023.
CoinDesk reported in May that the same bot had even sandwiched a small swap by Ethereum co-founder Vitalik Buterin. It put up $1.14 million to frontrun Buterin's trade to make just $4 (after fees, the bot a few dollars money on this particular trade).
The trade was worth only a few dollars, and the loss was tiny, but it showed how industrialized the bot had become. It was scanning the mempool for nearly anything it could insert itself around.
While Saturday's incident does not make sandwich attacks less harmful, but it does show the risk of running systems that approve transactions at machine speed based on pattern recognition and profit signals.
Jaredfromsubway.eth spent years profiting from traders who did not see the bot coming. But on Saturday, the bot did not see the trade coming either.
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In the whirlwind landscape of cryptocurrency, the Mina Protocol has taken center stage with an extraordinary 47% surge in its native token, MINA, within the past week.
Currently riding high at $1.40, a level not witnessed since May 2022, MINA’s impressive rally has ignited contemplation among investors: Can it breach the elusive $2 mark in the immediate future?
MINA price action today. Source: Coingecko Mina’s Surge: CEO Appointment And Swiss Relocation This surge in MINA’s value is not a mere coincidence; it’s the result of a convergence of significant developments that have unfolded in recent weeks.
December 19 marked a pivotal moment when the Mina Foundation announced the appointment of Kurt Hemecker as the new CEO, a distinguished business development specialist in the FinTech space.
Simultaneously, the foundation strategically relocated its operations to Geneva, Switzerland, amplifying the positive sentiment surrounding MINA due to anticipated regulatory benefits and enhanced networking opportunities within the cryptocurrency community.
MINAUSD currently trading at $1.260 territory. Chart: TradingView.com Another driving force behind MINA’s remarkable surge is the introduction of the Paima ZK layer. A collaborative effort involving Paima Studios, Mina, ZekoLabs, and Class Lambda, this layer represents a groundbreaking leap in blockchain gaming technology.
It can deploy Zero-Knowledge (ZK) proofs to any Layer 1 (L1) ecosystem, supporting both EVM and non-EVM codebases. The layer’s innovative capacity to enable dynamic scaling of on-chain games, akin to the traditional “world select” in web2 games, adds a novel dimension to MINA’s utility.
The Mina Foundation Board appoints Kurt Hemecker (@khem) as CEO to champion adoption of @MinaProtocol’s ZK tech.
Kurt, previously COO, brings two decades of business development experience from major players including @DiemAssociation and @PayPal.
1/3https://t.co/W1old4fmxJ
— Mina Foundation 🪶 (@MinaFoundation) December 19, 2023
MINA Faces Resistance At Recent Highs Despite the positive momentum, MINA encounters initial resistance at its recent peak of $1.48, with additional overhead resistance noted between $1.5817 and $1.6337.
While the broader trend remains upward, cautious optimism is warranted as short-term oscillators hint at early signs of peaking momentum, prompting vigilance among traders and investors alike.
Meanwhile, Sebastien Guillemot, the principal developer at Cardano, alluded to significant advancements for the blockchain in 2024 in a recent X post.
With Ethereum sentiments being in the dumps right now, I’d just like to say working with Arbitrum (@arbitrum) has been a great experience 👍
Expect more projects that combine Arbitrum with @cardano and @MinaProtocol in the 2024 👍
— Sebastien Guillemot (@SebastienGllmt) December 26, 2023
Guillemot’s expressed enthusiasm about collaborating with Arbitrum suggests a potential fusion of Cardano with Arbitrum and Mina Protocol.
Paima Studios, under Guillemot’s leadership, has already contributed to the progression of Layer-2 solutions, releasing a solution for Cardano’s on-chain gaming this year.
The alignment with Arbitrum and Mina Protocol points toward a paradigm shift in the blockchain landscape, promising further innovation and seamless integration.
Bitcoin (CRYPTO: BTC) moved higher, with the cryptocurrency prices trading past the key $43,000 level on Tuesday.
Ethereum (CRYPTO: ETH) also recorded gains, trading above the key $2,300 mark this morning.
Pendle (CRYPTO: PENDLE) was the top gainer over the prior 24 hours, while Manta Network (CRYPTO: MANTA) turned out to be the biggest loser.
At the time of writing, the global crypto market cap rose to $1.67 trillion, recording a 24-hour gain of 2.5%. BTC was trading higher by 2.9% at $43,475 while ETH rose by around 1.9% to $2,315 on Tuesday.
Here are the top ten crypto gainers and losers over the past 24 hours:
Shark tank star and billionaire Mark Cuban is revealing his crypto portfolio, which includes several non-fungible tokens (NFTs) and altcoins built on Ethereum (ETH).
According to ETH search engine EtherScan, Cuban’s top altcoin holdings include data exchange platform Ocean Protocol (OCEAN), cross-chain smart contract protocol Rarible (RARI), the governance token of the Olympus DAO (gOHM), and music streaming blockchain Audius (AUDIO).
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The business magnate has also made a portion of his crypto wallet public and is showing off his NFT collection on the social crypto collectible platform Lazy.
Cuban’s collection includes NFTs built on ETH-competitors Solana (SOL) and Polygon (MATIC), as well as ETH itself.
In a recent interview with comedian Jon Stewart, Cuban reveals that 80% of his most-recent non-Shark Tank investments have been into crypto assets as he believes newer generations are very likely to incorporate cryptocurrencies into their business models.
“The investments I’m making now are not in traditional businesses, 80% of the investments I make not in Shark Tank are in and around cryptocurrencies.”
Cuban then tells Stewart that he’s less of a speculative investor and believes decentralized cryptocurrencies will have legitimate use cases in the business world moving forward.
“Put aside all the speculation you read about with Bitcoin and Dogecoin, all that. Set that aside, that’s just the gamesmanship that’s played with stocks and everything.
A decentralized autonomous organization (DAO) basically says that there is no central organization. It’s all decentralized and trustless. What we mean by trustless is there’s not a management group or board of directors or a CEO making decisions…
And so everybody who owns a token in that application then has an equal, not always equal, but typically equal vote to set the direction of the hull, of the network. That is changing decision-making and that is where I look to invest.”
The meme coin space has not been shy of hype, but the trend in 2025 has been moving away from viral marketing towards practicality. Although Ethereum-based meme coins like Shiba Inu (SHIB), Pepe (PEPE), and Floki (FLOKI) have remained at the forefront of the conversation.
A new player, Little Pepe ($LILPEPE), which is a Layer 2 meme coin designed for utility purposes, is quickly making a name for itself—and the numbers are beginning to show that it’s worth paying attention to.
Little Pepe has already raised $28,101,728 out of the $28,775,000 goal, selling 16.94 billion tokens out of 17.25 billion. Currently in Stage 13, each token costs $0.0022, with plans for an increase to $0.0023 in the next stage.
Ethereum Meme Coins: Strong Brands, Limited Evolution Various popular meme coins have emerged from the Ethereum platform. For example, Shiba Inu (SHIB) ventured out of its meme coin status by launching Shibarium, its Layer 2 product. PEPE leveraged internet culture to post outstanding returns in the short run, while FLOKI created an ecosystem centred on NFTs and metaverse aspirations.
Nonetheless, in spite of these advancements, most Ethereum meme coins continue to exist as tokens on the Ethereum blockchain platform. As such, they share the same challenges as other Ethereum tokens, including higher transaction costs when the network is congested and dependence on other systems for scaling.
Little Pepe’s Exception in the Market Little Pepe enters the scene with a noticeably different approach. Rather than existing as just another token on Ethereum, it is built as a dedicated Layer 2 EVM-compatible chain, designed to be ultra-fast, secure, and cost-efficient from the ground up.
By controlling its own infrastructure, Little Pepe can offer zero tax trading, faster transactions, and a smoother user experience—something that meme coin traders have long struggled with on congested networks. Add to that staking features and NFT integration, and the project starts to look less like a speculative asset and more like an ecosystem in development.
The staged presale model adds another layer of appeal. Stage 1 investors who bought tokens at $0.001 are already holding profits above 120%, and there is more to come since the token will continue its journey to public release.
Incentives Driving Investor Momentum Furthermore, the current $777,000 presale giveaway contest is also contributing to fostering community engagement. Ten people who will win $77,000 of $LILPEPE coins will be selected based on their contribution of at least $100 and completion of community activities. This is a marketing approach that incorporates real user onboarding and not just speculation.
The Mega Giveaway introduces an additional incentive layer. Buyers participating between Stages 12 and 17 stand a chance to win 15+ ETH in rewards, targeting both large investors and random participants. This dual approach—rewarding both scale and chance—has helped sustain momentum during the later presale stages.
Market Positioning and Forward Outlook
Little Pepe’s roadmap hints at ambitions beyond presale success. Planned listings on top centralized exchanges and Uniswap, combined with discussions around major partnerships, signal an effort to transition quickly into a liquid, accessible asset. The project is also targeting a $1 billion market cap.
The bigger picture of the cryptocurrency market validates this story. As Bitcoin calms down and liquidity flows back into alternative cryptocurrencies, money begins flowing back into risky areas. Typically, meme coins profit from this stage—but the catch here is that investors favour tokens combining hyped up value with utility.
A Shift in Meme Coin Investing? Little Pepe emerges as a success at a time when the market is subtly reshaping the notion of what constitutes a “successful meme coin.” Although tokens built on the Ethereum platform continue to enjoy cult status, emerging projects with built-in technology stack solutions are gaining traction among investors.
While Little Pepe may or may not succeed in realizing its long-term vision, what is clear based on present momentum and presale performance is that it is proving the idea that successful meme coins cannot have both fun and function.
For more information about Little Pepe, visit the links below: Website: https://littlepepe.com/ Twitter/X: https://x.com/littlepepetoken Telegram: https://t.me/littlepepetoken Disclaimer: TheNewsCrypto does not endorse any content on this page. The content depicted in this Press Release does not represent any investment advice. TheNewsCrypto recommends our readers to make decisions based on their own research. TheNewsCrypto is not accountable for any damage or loss related to content, products, or services stated in this Press Release.
While volatile movements in Bitcoin and altcoins continue, cryptocurrency analysis company Santiment announced the most popular altcoins in the cryptocurrency world in its latest post.
Accordingly, Santiment said that investors showed great interest in Bitcoin (BTC), Ethereum (ETH), Tether (USDT), GameStop (GME), Kadena (KDA) and Chainlink (LINK) and named altcoins.
Gamestop is the leader in trending cryptocurrencies in the last 24 hours, followed by Bitcoin, Tether, KDA, LINK and ETH.
The cryptocurrencies that have attracted the most attention in the crypto industry and the reasons are listed as follows: GME: GameStop (GME) stock is trending amid growing discussions focusing on potential short squeeze scenarios similar to past events.
Bitcoin: The word BTC is trending due to the growing discussions about capital rotation from gold to Bitcoin.
Discussions highlight a shift in investment from gold to Bitcoin. Bitcoin's bullish trend and potential for a price double are also being discussed.
Tether (USDT): Tether is trending due to discussions about USDT and Tether Gold (XAUT). Tether is also notable for reaching 500 million users.
Kadena: KDA is trending due to the announcement that Layer 1 blockchain project Kadena will cease all operations and go bankrupt.
This caused the KDA token to lose approximately 60% of its value in a short period of time, resulting in significant losses for its holders.
Chainlink: LINK is in the spotlight with its participation at the Federal Reserve Payment Innovation Conference, where its executives discussed integrating traditional finance with DeFi, stablecoins, tokenization, and crypto payment innovations.
Considered a key player in the next-generation payment systems and crypto prediction markets, Chainlink is attracting interest from major financial and technology companies such as BlackRock, Coinbase, Google Cloud, and Circle.
Ethereum: ETH is trending due to extensive discussions about governance issues within the Ethereum Foundation and its relationship with projects like Polygon.
Key topics include discussions on Polygon's status as an Ethereum Layer-2 solution, comparisons of Ethereum's network efficiency to Bitcoin, and mentions of influential figures like Vitalik Buterin and Sandeep Nailwal.
Institutional investor interest, price movements, ETF outflows, large ETH transfers by the Ethereum Foundation, and Ethereum's role in multi-chain bridges and lending platforms are also contributing to ETH's trend.
*This is not investment advice.
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As the race to tokenize real-world assets (RWAs) accelerates, ONDO is quietly positioning itself as one of the most influential players in the growing sector. While the market shifts toward real-world asset tokenization, ONDO has continued to expand its footprint in tokenized finance by building products that bridge traditional financial markets with blockchain infrastructure.
Why ONDO Is Emerging As A Leader In The Real-World Asset Sector ONDO Finance is quietly emerging as one of the most influential players in the rapidly expanding tokenized finance sector. A KOL manager and advisor, known as BitBull on X, has revealed that tokenized US Treasury products have now grown into a $13.7 billion market capitalization, with Ondo already ranking among the largest issuers in the space.
At the same time, tokenized stocks are gaining momentum, surpassing $1.5 billion in total value locked (TVL) as assets such as NCDAon, IBITon, MUon, and IVVon attract growing investor demand through Ondo Global markets.
Source: Chart from BitBull on X Meanwhile, the broader shift happening behind the scenes is becoming increasingly difficult to ignore. Users can now access the US stocks, ETFs, and treasury products directly on-chain, without relying on traditional brokerage infrastructure.
While Ethereum continues to dominate the tokenized asset landscape, Ondo has rapidly positioned itself as one of the major platforms accelerating real-world asset adoption across crypto markets. BitBull noted that this signals a transition beyond stablecoins, with capital markets slowly migrating onto on-chain, and Ondo aiming to sit at the center of that transformation.
Tokenized Stocks Could Become Ondo’s Biggest Opportunity ONDO is increasingly being viewed as one of the most undervalued opportunities in the tokenized finance sector. According to Not Telling on X, the project originally positioned the ONDO token strictly as a governance asset to avoid potential regulatory issues tied to securities laws, particularly around sharing protocol-generated revenue with token holders.
However, with the introduction of a clearer regulatory framework, such as the CLARITY Act, the landscape may be shifting. The new guidance suggests that distributing protocol revenue to token holders may no longer automatically be classified as a security asset.
At the same time, the evolving stance of the US Securities and Exchange Commission (SEC) toward tokenized assets is reinforcing Ondo’s position as the best. The platform is already a dominant player in tokenized stocks, reportedly controlling a significant 60% shares of the market.
If Ondo moves forward with the revenue-sharing protocol with token holders, the combination of real yield and strong positioning in tokenized real-world assets could significantly reprice the token. In that scenario, ONDO’s trajectory toward becoming a top-tier crypto asset, potentially breaking into the top 10 or even top 5, would come into focus.
ONDO trading at $0.37 on the 1D chart | Source: ONDOUSDT on Tradingview.com Featured image from Medium, chart from Tradingview.com
PANews reported on February 23 that the IoTeX team tweeted that on February 21, they discovered an attack on the Ethereum side of their multi-chain bridge ioTube. The attackers stole 410 million CIOTX tokens and approximately $4.4 million in assets through four steps. Currently, over 86% of the CIOTX has been locked or frozen, 12.8% (52.4 million CIOTX) is being frozen in cooperation with Binance and other platforms, and only 0.4% (1.7 million CIOTX) remains at risk after being exchanged on DEXs. Regarding the bridge's reserve funds, the attackers exchanged the stolen reserve tokens (including USDC, USDT, WBTC, WETH, and other assets) for approximately 2,183 ETH . Of this, 1,572 ETH has been transferred to the Bitcoin network via THORChain.
The IoTeX team has taken emergency measures, including distributing patch fixes, freezing related addresses, and working with exchanges to freeze funds. The ioTube bridge service will be restored after an independent security audit, along with a compensation plan and security upgrades. The team is committed to ensuring the safety of community assets and will release a more detailed compensation plan and hold a community AMA within the next 48 hours.
Previously reported, IoTeX suffered a loss of approximately $2 million in assets and is expected to be operational within 48 hours . Upbit has added IoTeX (IOTX) to its transaction alert list .
Jefferies: Samsung is likely to follow SK Hynix’s example to list in the US via ADRs.
Jeff Kim, Head of Research at Jefferies, said Samsung is likely to follow SK Hynix in listing on the U.S. market via American Depositary Receipts (ADRs), which will boost the share price of the South Korean chipmaker whose valuation lags behind Micron. "Chip stocks are at a turning point. ADRs will serve as an important catalyst to drive their valuations," he added.
5 minutes ago
UBS and TD Cowen sharply raise Arm’s target price, betting on a revaluation of Arm’s AI data center CPU value.
Arm’s stock price pulled back this week alongside the high-valuation AI sector, though some Wall Street analysts say the correction does not alter the company’s long-term standing in AI data centers. UBS sharply raised Arm’s price target from $260 to $470, retaining its Buy rating; TD Cowen lifted its target from $265 to $475, also keeping a Buy recommendation. Both firms share the view that as agentic AI evolves, CPUs could gain greater importance in data center architectures, rather than GPUs continuing to monopolize the investment narrative. TD Cowen believes that over the long term, CPUs could hold a more strategic position in certain AI workloads. UBS, meanwhile, emphasizes that the real debate in the market centers on the revenue potential of Arm’s self-developed or independent CPU business. The bank projects Arm’s CPU-related revenue could reach around $14 billion by 2030, though the company itself has stated this business will not have a material impact on its finances until fiscal 2028. Arm’s strengths lie in low latency and energy efficiency—metrics that major cloud providers are increasingly prioritizing as they expand AI infrastructure. Even with its stock pulling back from recent highs in the short term, analysts still view Arm as one of the key beneficiaries of the server CPU upgrade cycle.
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Crypto whale who profited over $23.77 million from BAT ICO liquidates 27,586 ETH
According to monitoring by Yu Jing, a whale that earned $23.77 million from participating in the BAT ICO sold 15,000 ETH (valued at roughly $24.29 million) two hours ago. The whale has now fully liquidated all 27,586 ETH it received from selling 35 million BAT on-chain over the past day and a half, converting the proceeds into 44.836 million USDS at an average selling price of $1,625.
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Sources: Iraqi officials once considered withdrawing from OPEC, but current plans are to remain a member and pursue a higher quota.
A senior Iraqi oil ministry official said that if OPEC quotas are not significantly increased, Iraq will be forced to consider all available options. Sources said Iraqi officials had considered withdrawing from OPEC, but the current plan is to remain a member and push for higher quotas. (Jinshi)
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Kepler Cheuvreux raises ASML’s European share price target from €1,460 to €1,830.
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Stifel: U.S. economy in "overheated expansion" as AI investment cycle outweighs consumer pressure
U.S. large diversified financial services holding company Stifel has raised its year-end S&P 500 target and rolled out a stock allocation framework for a "high-growth, high-inflation" environment. The firm lifted its year-end S&P 500 target to 7,800 points, noting the U.S. economy is entering a "running hot" state—where economic growth is strengthening alongside mounting inflationary pressure. Stifel’s models show U.S. growth momentum is picking up while inflation momentum is clearly overheating, a trend that will reshape the market’s leading sector structure in the second half of the year. Instead of traditional consumer sectors, Stifel’s top picks are investment-led cyclical industries, including banks, transportation, materials, energy, semiconductors, software and equipment. The firm adds that fixed-asset investment in AI remains on the rise: large tech firms including Amazon, Microsoft, Meta and Google are projected to combine for roughly $725 billion in total capital expenditures in 2026, some $100 billion higher than prior estimates. This means the AI investment chain is likely to continue outperforming the consumption chain squeezed by inflation. Stifel advises investors to reduce exposure to discretionary consumer, consumer staples, communication services and some financial services sectors, as these areas see weaker earnings revisions. Conversely, the firm favors cyclical value stocks and hedges with defensive value sectors such as insurance, autos, energy and banks.
PANews reported on February 24th that, according to CoinDesk, the IoTeX public blockchain project's cross-chain bridge ioTube suffered a loss of approximately $4.4 million on February 21st due to a compromised Ethereum-side validator owner's private key . IoTeX sent an on-chain message to the attackers, promising a white-hat bounty of approximately 10% (about $440,000) for returning the funds within 48 hours, without pursuing legal action or providing their identity information to law enforcement. The project team stated that they have fully tracked the flow of funds, flagged and frozen the relevant exchange deposit addresses, identified four Bitcoin addresses holding approximately 66.6 BTC, and will introduce a malicious address blacklist through the mainnet v2.3.4 upgrade.
Author: PA一线
This content is for market information only and is not investment advice.
PANews reported on February 26 that the IoTeX Foundation announced its latest tracking and full compensation plan regarding the ioTube cross-chain bridge security incident that occurred on February 21. The team stated that it has completed the full-chain tracking of the stolen funds. Most of the CIOTX has been frozen on-chain, and the remaining assets have been converted into approximately 2,183 ETH and crossed over to the Bitcoin network. The relevant BTC addresses are currently under monitoring. The Foundation promises 100% compensation to all users who held USDC, USDT, ETH, and WBTC bridged from Ethereum to IoTeX at the time of the incident: users with losses of $10,000 or less will receive a one-time full compensation; users with losses exceeding $10,000 will receive the first $10,000 immediately, with the remainder distributed over four quarters, plus an additional 10% compensation in the form of 12-month staked IOTX. The platform will open the official recovery address and Claims Portal on February 27. Users need to summarize their affected assets, transfer them all at once, and submit on-chain transaction information to complete the verification and compensation process.
PANews reported on February 27th that, according to an IoTeX announcement, due to an attack on the ioTube cross-chain bridge on February 20th and the unauthorized issuance of CIOTX on the Ethereum side, IoTeX plans to immediately deprecate CIOTX on Ethereum/Base/Solana and permanently close the relevant bridges. The attacker's minting will not be recognized. Eligible holders must submit their transaction hashes through the claims portal; after verification, IOTX will be issued on the IoTeX chain at a 1:1 ratio. BSC/Polygon/IoTeX are unaffected by the issuance and will reopen the bridges after auditing for users to migrate back to IOTX independently, before permanently delisting them. IoTeX will also notify CEX/DEX/DeFi to completely delist or remove CIOTX integrations.
PANews reported on January 14th that, according to SoSoValue data, the cryptocurrency market saw a general rebound after a period of correction, with most sectors rising by approximately 3% to 8% in the past 24 hours. The NFT sector led the gains with an 8.34% increase, with Pudgy Penguins (PENGU) rising 13.36% and ApeCoin (APE) rising 13.17%. Additionally, Bitcoin (BTC) rose 4.34%, surpassing $95,000, and Ethereum (ETH) rose 7.40%, surpassing $3,300.
In other sectors, the Meme sector rose 7.31% in the last 24 hours, with Pepe (PEPE) surging 16.06%; the RWA sector rose 6.95%, with Keeta (KTA) rising 16.69%; the Layer 2 sector rose 6.92%, with Optimism (OP) rising 17.21%; the DeFi sector rose 6.73%, with Ethena (ENA) rising 13.06%; the PayFi sector rose 5.35%, with Dash (DASH) rising 42.84%; the Layer 1 sector rose 4.99%, with Polkadot (DOT) rising 9.48%; and the CeFi sector rose 4.55%, with Binance Coin (BNB) rising 4.81%.
PANews reported on February 12th that, according to SoSoValue data, the overall cryptocurrency market is trending downwards. Bitcoin (BTC) fell 1.97%, dropping below $68,000; Ethereum (ETH) fell 2.83%, dropping below $2,000. Only the NFT, SocialFi, and Layer 2 sectors remained relatively resilient, rising 1.40%, 0.53%, and 0.04% respectively in the past 24 hours. Within the NFT sector, ApeCoin (APE) rose 1.30%; within the SocialFi sector, Toncoin (TON) rose 0.68%; and within the Layer 2 sector, zkSync (ZK) rose 4.38%.
In other sectors, the Meme sector fell 0.29% in the last 24 hours, but PIPPIN (PIPPIN) surged 33.94%; the Layer 1 sector fell 1.35%, while Zcash (ZEC) remained relatively strong, rising 2.41%; the CeFi sector fell 1.46%, while Aster (ASTER) surged 8.90% intraday; the DeFi sector fell 1.71%, while Hyperliquid (HYPE) bucked the trend, rising 4.08%; and the PayFi sector fell 1.88%, while eCash (XEC) rose 4.11%.
PANews reported on April 3rd that, according to SoSoValue data, the cryptocurrency market generally saw a pullback. The NFT sector fell 3.85% in the last 24 hours. Within the sector, Pudgy APENFT (NFT) fell 0.58%, Penguins (PENGU) fell 2.13%, and ApeCoin (APE) fell 5.24%. Meanwhile, Bitcoin (BTC) fell 1.06%, dropping below $67,000. Ethereum (ETH) fell 2.52%, fluctuating narrowly around $2,000.
In other sectors, the Meme sector fell 0.04% in the last 24 hours, with MemeCore (M) showing relative strength, rising 4.28%; the PayFi sector fell 1.16%, and Dash (DASH) fell 4.01%; the Layer 1 sector fell 1.45%, with Algorand (ALGO) bucking the trend and rising 7.61%; the Layer 2 sector fell 1.88%, but Polygon (POL) rose 0.66%; the DeFi sector fell 2.11%, with EdgeX (EDGE) surging 13.38% intraday; the CeFi sector fell 1.65%, and Binance Coin (BNB) fell 3.34%.
PANews reported on May 14th that, according to SoSoValue data, the cryptocurrency market generally saw a correction, with the NFT sector leading the decline at 3.95% in the past 24 hours. Within the sector, Audiera (BEAT) rose 6.27%, while ApeCoin (APE) fell 4.64%. Additionally, Bitcoin (BTC) fell 1.93%, dropping below $80,000; Ethereum (ETH) fell 1.23%, dropping below $2,300.
In other sectors, the Meme sector fell 0.25% in the last 24 hours, with TROLL (TROLL) showing relative strength, rising 24.93%; the CeFi sector fell 0.60%, with Cronos (CRO) falling 5.54%; the PayFi sector fell 1.69%, with Dash (DASH) falling 6.84%; the Layer 1 sector fell 2.15%, but Canton Network (CC) rose 1.45%; the DeFi sector fell 3.16%, with LAB (LAB) surging 22.84%; the AI sector fell 3.57%, with Unibase (UB) surging 32.63% intraday; and the Layer 2 sector fell 3.60%, with zkSync (ZK) falling 8.37%.
PANews reported on June 12th that, according to SoSoValue data, the cryptocurrency market rebounded across the board, rising 2% to 15% in the past 24 hours. The NFT sector performed particularly well, rising 15.04%, with Audiera (BEAT) up 17.25% and ApeCoin (APE) up 8.68%. Meanwhile, Bitcoin (BTC) rose 1.90%, breaking through $63,000; Ethereum (ETH) rose 1.32%, breaking through $1,600.
In other sectors, the AI sector rose 7.01% in the last 24 hours, with Velvet (VELVET) surging 83.37%; the DeFi sector rose 5.21%, with LAB (LAB) rising 21.89%; the PayFi sector rose 3.56%, with Monero (XMR) rising 21.65%; the Layer 2 sector rose 2.19%, with Arbitrum (ARB) rising 5.60%; the Layer 1 sector rose 1.83%, with NEAR Protocol (NEAR) rising 5.21%; the CeFi sector rose 1.40%, with Gate (GT) rising 2.20%; and the Meme sector rose 0.98%, with BUILDon (B) rising 8.15%.
A court in Illinois sided with the United States Commodity Futures Trade Commission (CFTC) and recognized two altcoins – Olympus (OHM) and KlimaDAO (KLIMA) as commodities.
Illinois Northern District Court Judge supported the CFTC in the case against Oregon resident Sam Ikurti and his company, Jafia, LLC. The CFTC deemed the company a Ponzi-like scheme.
Judge Imposed a $120 Million Fine on Crypto Ponzi SchemeIn 2022, CFTC accused Ikurti and his colleague Ravishankar Avadanam of fraud and non-compliance with registration requirements. The case against Avadanam was dismissed in 2023 as part of an agreement with the regulator.
The Commission claimed that they organized the Ponzi scheme, which attracted about $ 44 million from at least 170 investors through the company’s website called Jafia LLC and YouTube videos.
Read more: 15 Most Common Crypto Scams To Look Out For
Ikurti and Avadanama developed Jafia LLC, which claimed to bring customers up to 15% returns per annum. However, scammers spent all investor funds on the purchase of altcoins OHM and KLIMA.
Judge Mary Rowland agreed with the CFTC that Jafia, LLC, and its founders were involved in fraud. The defendants are now required to pay more than $120 million in compensation to all victims of the scheme. Specifically, this included $83.7 million in restitution and $36.9 million in disgorgement.
However, the most important point in the case was the court’s recognition of OHM and KLIMA as commodities.
“The order finds not only are Bitcoin and Ethereum commodities within the CFTC’s jurisdiction, but also “OHM and Klima, two non-Bitcoin virtual currencies … qualify as commodities,” CFTC said.
Due to this development, the price of OHM has increased by 0.71% in the past 24 hours despite the broader market downturn. Meanwhile, the price of KLIMA has also increased modestly by 0.47%.
Olympus (OHM) Price Performance. Source: BeInCryptoDetermining whether crypto assets are securities or commodities is a subject of lively debate. CFTC Representatives consider most cryptocurrency commodities, while the US Securities and Exchange Commission (SEC) believes that all of them are more likely to relate to securities.
Read more: Who Is Gary Gensler? Everything To Know About the SEC Chairman
Representatives of the crypto industry believe that it is precisely because of disputes between the CFTC and SEC in the United States that cannot create a regulatory framework for the crypto market.
In brief OpenSea had a record-breaking January, with more than $5 billion in trading volume between Ethereum and Polygon. Other marketplaces put up sizable numbers last month, as the Bored Ape Yacht Club, Azuki, World of Women, and NBA Top Shot all rose. Leading NFT marketplace OpenSea generated more than $5 billion in total trading volume in January between Ethereum and Polygon sales, breaking the previous record from August 2021.
Public blockchain data collected by Dune Analytics shows that OpenSea had more than $4.95 billion of Ethereum trading volume in January, plus over $79 million on Polygon, a sidechain scaling solution for Ethereum. Both are single-month records for each respective platform.
OpenSea’s previous Ethereum peak came in August 2021 as the NFT market exploded following a subdued summer, topping $3.4 billion in trading volume for the month. Meanwhile, the marketplace’s previous Polygon record was set in December with $76 million, as NFT trading on the scaling solution has steadily increased in recent months.
On the Ethereum front, OpenSea had its best single day in months yesterday, January 31, with $233 million worth of NFT trading. It’s one of four single days above the $200 million mark for Ethereum trading in January for the marketplace.
Daily Ethereum trading volume is on the rise at OpenSea. Image: Dune AnalyticsOpenSea initially appeared to be on track for an even more sizable finish. However, the Dune Analytics dashboard created by Richard Chen, general partner at venture fund 1confirmation, was double-counting transactions sent by newer aggregators like Genie and Gem. It was fixed on January 20, per a tweet from Chen, shaving down some previous trading volume figures.
Even with the data corrected, however, OpenSea still blew past its previous Ethereum record as the NFT market soars to even greater heights. Early in January, OpenSea also revealed a $300 million Series C round that valued the company at $13.3 billion.
It wasn’t all smooth sailing for OpenSea in January, however. Some OpenSea users saw their high-value NFT collectibles sold for a fraction of their estimated worth due to a UI exploit, and the firm has thus far paid out $1.8 million worth of ETH to affected customers.
Also last month, OpenSea announced plans to limit the number of NFTs that can be minted with its own smart contract (i.e., computer code), effectively stopping some active projects in their tracks. The news was met with near-universal backlash and OpenSea reversed course, announcing that it would instead pursue other ways to limit the creation of plagiarized and spam NFTs on the platform.
A rising marketOpenSea is a prominent indicator of the NFT market’s momentum, which has continued surging despite a rough month for cryptocurrency prices. Some traders may see valuable, blue chip NFT projects like the Bored Ape Yacht Club and Doodles as a store of value as the crypto market falls. Others may be taking advantage of the dip to buy into NFTs in a big way.
“Investors are currently getting a discount for the most hyped digital asset class, at least on fiat terms,” Dragos Dunica, co-founder and chief data officer of analytics firm DappRadar, told Decrypt earlier in January. “As NFTs maintain their upward trend, this discount might turn into a neat return on investment as crypto prices pick up too.”
An NFT works like a blockchain-verified deed of ownership to a digital item, whether it’s an image, video file, video game item, or something else. The market rose to an estimated $23 billion in total trading volume over the course of 2021, per data from DappRadar.
That momentum has carried into 2022 thus far, and OpenSea is not the only platform that saw significant trading action in January. New Ethereum marketplace LooksRare is a prime example, but it’s one that comes with caveats.
Launched on January 10, the marketplace is built around its own LOOKS token that was airdropped free to select OpenSea users to draw them to the platform. LOOKS tokens are also paid out daily to NFT traders that use LooksRare.
However, some traders have manipulated the system by selling NFTs for highly exaggerated prices back and forth between their own controlled wallets—a form of wash trading. Collections like Meebits and Terraforms, which trade without royalties due to the creators, have generated billions of artificially inflated trading volume via LooksRare in recent weeks.
As of Friday, January 28, crypto analytics firm CryptoSlam said that it had identified more than $8.3 billion worth of wash trading on LooksRare. With Dune Analytics reporting $9.5 billion in total trading volume at the time, that would suggest that about 87% of trading on the site was attributed to manipulated sales as of that date.
Still, that leaves potentially more than $1 billion worth of legitimate trading volume—plus activity from the weekend and Monday—on a brand new NFT marketplace in January. And that comes on top of OpenSea’s own growing Ethereum activity.
Over on the Solana blockchain, top marketplace Magic Eden appears to have had a sizable month, as well. DappRadar’s figures suggest more than $531 million worth of trading volume over the past 30 days, as of this writing—a nearly 89% uptick over the previous 30-day span.
The biggest projectsThe Bored Ape Yacht Club profile picture project—which pulled in celebrities like Justin Bieber and Neymar Jr. in recent weeks—was arguably the biggest winner among NFT collections in January.
According to CryptoSlam, the main collection generated $311 million worth of secondary trading volume last month, a nearly 101% increase over December. Add in secondary sales of the Mutant Ape Yacht Club and Bored Ape Kennel Club collections, and the combined total tops $600 million. Collectively, the three projects have passed the $2 billion total to date.
Meanwhile, brand new profile picture project Azuki has topped $249 million in secondary trading volume to date since launching in January, and the World of Women project rose more than 1,100% to over $69.5 million last month. Earlier in January, World of Women signed veteran music mogul Guy Oseary to represent it with entertainment and licensing initiatives.
Dapper Labs had a big month in January, as well, with its NBA Top Shot project—which runs on the Flow blockchain—notching its best month of secondary trading volume since last April with over $59 million. That’s a 52% increase from December, plus Top Shot logged its most NFT transactions in a single month with more than 1.8 million in total.
Also in January, Dapper launched its UFC Strike platform for the Ultimate Fighting Championship, generating $5 million as it sold through 100,000 NFT packs at $50 apiece. UFC Strike will enable trading when its secondary marketplace opens on February 7.
Not every notable NFT project soared in January, however. CryptoPunks notched its lowest month of trading volume since last June, with $124.2 million—a nearly 28% drop from December. CryptoPunks has been seen as losing ground to the Bored Ape Yacht Club, which provides added perks to holders and has seen prominent holders join of late.
Additionally, Axie Infinity–the leading Ethereum-based game—continued its recent decline in NFT trading volume, dropping to about $126.5 million in January. That’s a 58% drop from December, and a steep fall from November’s tally of nearly $754 million, per CryptoSlam.
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Onchain HighlightsDEFINITION: The relative amount (share) of gas consumed by the Ethereum network by transactions interacting with non-fungible tokens. This category includes token contract standards (ERC721, ERC1155) and NFT marketplaces (OpenSea, Blur, LooksRare, Rarible, SuperRare) for trading those.
Ethereum's gas usage by NFTs has exhibited significant shifts over the past few years, mainly as different platforms have gained and lost prominence. Recent data indicates that Blur and OpenSea have consistently dominated gas consumption since early 2024.
This reflects the increasing activity on these platforms as traders and collectors continue to engage in the NFT market. In contrast, platforms like Rarible and SuperRare show relatively lower gas usage, highlighting their smaller user bases or less frequent transactions.
Ethereum: Gas Usage by NFTs: (Source: Glassnode)Historically, significant spikes in gas usage by NFT transactions correlate with broader trends in Ethereum's price movements. For instance, the surge in early 2021 coincided with a considerable bull run in the crypto market, driving more transactions and higher gas fees. As Ethereum's price stabilized in mid-2023, NFT-related gas usage also normalized, illustrating the interconnectedness of these metrics.
The current landscape suggests that while new NFT marketplaces emerge, established platforms like Blur and OpenSea maintain relative dominance, continually influencing Ethereum's overall gas consumption patterns. This dynamic plays a crucial role in understanding the operational costs and transaction efficiency of the Ethereum network.
Ethereum: Gas Usage by NFTs: (Source: Glassnode)While relative usage may be compatible with past cycles, overall NFT gas usage has plummeted since January 2023 as a percentage of overall network activity. At its peak, gas usage broke 40%, with a consistent level above 30%. Current levels are below 4%, partly due to the increasing popularity of layer-2s like Base and side chains like Polygon and an overall downtrend in the NFT market.
Memecore ($M) is back in the spotlight, surging 55% in the past week and breaking out of a stubborn descending wedge pattern.
Backed by heavy trading volume and an $870M market cap, the move has traders eyeing a potential 160% push toward its all-time high near $1.
Why does this matter? Because Memecore’s breakout isn’t just a single-chart anomaly; it’s a signal that meme coin momentum is waking up again after weeks of sluggish price action.
When a mid-cap like Memecore starts ripping, it often stirs up retail FOMO across the entire sector.
That renewed energy is why it’s worth watching the meme coin landscape closely. In this piece, we’ll break down three of the most compelling plays right now: two high-potential presales that could ride this wave early, plus one established pick with plenty of room to run.
Why Memecore’s Breakout Could Signal a Meme Coin Rally Memecore’s breakout above its descending wedge has flipped a key resistance zone between $0.43 and $0.55 into support, setting up a clean technical base for further upside.
This consolidation is drawing attention from prominent traders like innovatorYK and CryptoSmith0x, whose bullish calls are helping fuel social volume and renewed interest in meme coins.
Adding to the momentum is the broader market backdrop. The ongoing Solana ETF hype is funneling fresh liquidity into the best altcoins, while Ethereum’s steady recovery is keeping cross-chain traders engaged. For meme coins, this mix of catalysts often sparks outsized moves — and Memecore is currently leading the charge.
Just as critical, Memecore’s $27M in 24-hour trading volume shows real capital is flowing, signaling conviction from both retail and whales.
The best meme coins are also evolving, blending their satirical roots with emerging utility and community-driven features. With Memecore heating up, it’s time to look at three meme coins poised to ride this wave next:
1. Maxi Doge ($MAXI) – The Alpha Meme Coin for Traders Maxi Doge ($MAXI) is a full-blown degen lifestyle play.
Priced at $0.0002505, with over $320K raised in its presale, $MAXI embraces a 1000x leverage, gym-pumped narrative that’s turning heads across Crypto Twitter.
Its ‘final form,’ the Doge branding leans into pure hustle culture: nonstop grind, relentless green candles, and zero room for paper hands.
What sets $MAXI apart is its forward-looking roadmap. The team has teased potential partnerships and even futures trading features designed to position $MAXI as more than a Dogecoin derivative.
Early staking rewards (currently 797%) are also on the table, rewarding diamond-handed traders willing to lock in for the long haul.
Social momentum is building fast, with an expanding community of ultra-aggressive traders who see $MAXI as the meme coin to dominate this cycle. With Memecore reigniting the sector, $MAXI looks primed to flex even harder.
2. TOKEN6900 ($T6900) – The Honest, No-Utility Meme Coin TOKEN6900 ($T6900) is what happens when you strip a meme coin down to its rawest form: zero utility, no roadmap, and no empty promises.
Priced at $0.006825 with over $1.6M raised in its presale, it’s a satirical jab at traditional finance, even mocking the S&P 500 with its unapologetically absurd branding.
Unlike the wave of ‘AI-powered’ meme coins with overinflated pitches, TOKEN6900 thrives on brutal honesty. Its fixed supply and fair presale have won over a growing army of meme purists who are sick of utility theater and just want the real degeneration back.
This anti-Wall Street positioning has sparked genuine community buzz, making $T6900 one of the most talked-about presales on Ethereum. With staking rewards (currently 38%) adding a layer of degen-friendly tokenomics, it’s a project that fully embraces the culture.
In a market where authenticity hits harder than any narrative, TOKEN6900 feels tailor-made for the current high-risk, high-reward crypto climate.
3. Pudgy Penguins ($PENGU) – The Established Meme Icon Going Mainstream Pudgy Penguins ($PENGU) is a cultural heavyweight in the meme coin industry. With a ~$2.2B market cap and price around $0.035 (up 118% in the past month), $PENGU has cemented itself as one of the most recognized names in crypto.
Its partnerships stretch far beyond Web3: from Walmart selling plushies to Random House book deals and even NASCAR collaborations, it’s bridging the gap between memes and mainstream markets.
PENGU’s ecosystem also brings utility. Its NFT-driven brand extends into Web3 gaming integrations like My Neighbor Alice, creating a mix of culture and commerce that few meme coins can match. Recent ETF speculation and even McDonald’s swapping its PFP to a Pudgy avatar only add fuel to the fire.
For traders hunting a meme coin with staying power, $PENGU stands out. It’s a maturing brand with the potential to bring meme culture into the global spotlight.
Final Verdict: Meme Coins Are Heating Up Again Memecore’s breakout is more than a single-coin rally – it’s a signal that meme coin momentum is swinging back in full force. When liquidity, social buzz, and community conviction align, even the most satirical tokens can rip.
For those hunting early exposure, $MAXI and $T6900 bring two radically different presale narratives: high-octane trader culture and unapologetic meme maximalism.
Meanwhile, $PENGU stands as a battle-tested favorite, proving that memes can evolve into mainstream brands with staying power.
Still, meme coins are volatile by nature. Treat them as high-risk, high-reward plays, and always do your own research (DYOR) before you buy anything.
Crypto whales are offloading large amounts of Ethereum (ETH), adding sell pressure to a correction in digital asset markets.
Blockchain tracking firm Lookonchain says that “many whales are dumping ETH” through a number of different platforms and exchanges in apparent panic.
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“This whale exchanged 4,591.8 Lido Staked Ether (stETH) directly for 4,589.5 ETH at a loss of 2.3 ETH($6K) to avoid the long withdrawal process.
He then deposited all 5,145 ETH ($13.3M) into Binance for sale.”
Source: Lookonchain/X Lookonchain spotted another whale similarly depositing nearly $50 million in ETH to sell on Coinbase, the biggest crypto exchange in the US.
“A whale is selling 19,000 ETH ($49.17M)!
This whale requested a withdrawal of 30,007 Lido Staked Ether (stETH) ($78.67M) 4 days ago and claimed 19,000 ETH ($49.17M).
And the whale is depositing the 19,000 ETH ($49.17M) to Coinbase to sell!”
Another two whales were seen selling 8,208 ETH worth $21.59 million in order to repay debts on lending platform Aave to avoid being liquidated.
And an additional whale, originally buying ETH well above $3,000 in March and April, apparently capitulated and has been selling their holdings at a loss on Binance.
“Another whale sold 5,088 ETH ($13.58M) at a loss of $3.66M.
This whale withdrew 5,088 ETH ($17.24M) from Binance at $3,389 from Mar 28 to Apr 3.”
Source: Lookonchain/X Ethereum reached its high for the year at $4,115 in March, and is now down to $2,583 at time of writing.
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After momentarily sliding below important support levels, Ethereum (ETH) is once again on the climb. After a significant change in market mood, the second-largest digital asset by market capitalization passed $2,900.
Interestingly, Eric Trump, the son of US President Donald Trump, weighed in on the situation, remarking that it is a strategic opportunity to acquire ETH.
Tariff Pause Sparks Market Rebound Concerns over possible tariffs on Canada and Mexico rattled the crypto market earlier this week. Both Bitcoin and Ethereum fell significantly; Ethereum dropped momentarily to around $2,360. Still, the temporary suspension of the tariffs by Trump offered a breather, which raised investor confidence in risk assets including cryptocurrency.
In the wake of the announcement, Ethereum experienced a robust recovery, with a nearly 20% increase. Traders interpreted this as an invitation to re-enter the market, and ETH promptly reclaimed the $2,900 mark.
In my opinion, it’s a great time to add $ETH.
— Eric Trump (@EricTrump) February 3, 2025
Eric Trump’s Crypto Endorsement Raises Eyebrows Eric Trump posted his optimistic view on Ethereum on social media. He first said, “In my opinion, it’s a great time to add $ETH. You can thank me later.” Although the subsequent section of his remarks was deleted, crypto investors saw resonance in his endorsement of Ethereum’s future development.
The Trump family has been progressively involved in the digital asset sector, particularly through their World Liberty Financial platform. This most recent statement serves to emphasize their involvement and potential long-term dedication to blockchain technology.
ETHUSD trading at $2,722 on the daily chart: TradingView.com World Liberty Financial’s Significant Ethereum Transaction World Liberty Financial recently made a substantial move in the crypto space, which has served to further fuel speculation. The firm transferred over $300 million in assets to Coinbase’s custody platform, according to blockchain analytics firm Spot On Chain. Furthermore, they acquired an additional 1,826 ETH for approximately $5 million and converted nearly 20,000 Lido Staked Ether (stETH) into ETH.
World Liberty Financial (@worldlibertyfi) moved $307.41M in 8 assets to #CoinbasePrime 6 hours ago—as part of treasury management and business operations.
Shortly after, the project unstaked 19,423 $stETH to $ETH and further spent 5M $USDC to buy 1,826 $ETH at $2,738.… https://t.co/Rp9NAFUs5N pic.twitter.com/5bfIvJma7U
— Spot On Chain (@spotonchain) February 4, 2025
These transactions indicate that the company is making preparations for the introduction of its “Earn and Borrow” lending protocol. Although the protocol is still in the process of being developed, the substantial transfers suggest that the platform could soon play a significant role in decentralized finance (DeFi).
Ethereum’s Prospects Still Remain Positive As institutional interest is rising and the price of the top altcoin has recaptured higher levels, Ether remains a central focus in the crypto market. Macroeconomic changes, strategic investments, and political influence taken together provide an interesting dynamic for ETH’s future course.
Featured image from Gemini Imagen, chart from TradingView
The Lazarus Group has laundered stolen crypto from last week’s record-shattering Bybit hack through the exchange eXch, according to the blockchain research firm Elliptic.
Hackers looted nearly $1.5 billion worth of Ethereum (ETH) and Lido Staked Ether (stETH) from Bybit on Friday.
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The attack represented the largest crypto hack ever and possibly the biggest heist in world history.
Elliptic, pseudonymous on-chain investigator ZachXBT and other researchers have pinned the exploit on the Lazarus Group, a prolific North Korean cybercriminal outfit known for numerous high-profile hacks on major crypto platforms.
In a new analysis, Elliptic notes that Lazarus’ money-laundering process typically follows the same steps. First, the group exchanges any stolen tokens for a native blockchain asset like Ethereum, because ETH can’t be frozen by a central authority.
Source: Elliptic Subsequently, the cybercriminal outfit “layers” the stolen funds through multiple wallets, exchanges, cross-chain bridges and crypto mixers to obfuscate the transaction trail.
Elliptic says that Lazarus is currently in the middle of the second step.
“Within two hours of the theft, the stolen funds were sent to 50 different wallets, each holding approximately 10,000 ETH. These are now being systematically emptied – as of 1pm UTC on February 24, 14.5% of the stolen assets (now worth $195 million) have been moved from these wallets.
Once moved out of these wallets, the funds are being laundered through various services, including DEXs (decentralized exchanges), cross-chain bridges and centralized exchanges.
However, one service has emerged as a major and willing facilitator of this laundering. eXch is a cryptocurrency exchange, notable for allowing its users to swap cryptoassets anonymously. This has led them to being used to exchange hundreds of millions of dollars in crypto assets derived from criminal activity, including multiple thefts perpetrated by North Korea. Despite attempting to conceal this activity, our analysis shows that since the hack, crypto assets stolen from Bybit worth over $75 million have been exchanged using eXch. Despite direct requests from Bybit, eXch has refused to block this activity.”
Over the weekend, eXch took to the BitcoinTalk forum to deny claims it was laundering crypto for Lazarus, though it did cop to processing an “insignificant” portion of the stolen Bybit funds.
“1. eXch is NOT laundering money for Lazarus/DPRK (North Korea).
2. The insignificant portion of funds from the ByBit hack eventually entered our address 0xf1da173228fcf015f43f3ea15abbb51f0d8f1123 which was an isolated case and the only part processed by our exchange, fees from which we will be donated for the public good.
3. Any claims by ZachXBT and others on Twitter regarding transactions not related to 0xf1da173228fcf015f43f3ea15abbb51f0d8f1123 that are falsely attributed to eXch are a targeted FUD attack on our exchange.”
Bybit CEO Ben Zhou says the firm has restored a 1:1 backing on all client assets after the record-setting hack, and the Dubai-based exchange announced a full restoration of services on Saturday.
The controversial exchange eXch plans to close its doors in May after facing allegations that it laundered crypto stolen in the record-setting Bybit exploit earlier this year.
In February, hackers looted nearly $1.5 billion worth of Ethereum (ETH) and Lido Staked Ether (stETH) from Bybit in the largest crypto theft ever and possibly the biggest heist in world history.
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The blockchain research firm Elliptic, pseudonymous on-chain investigator ZachXBT and other researchers pinned the exploit on the Lazarus Group, a prolific North Korean cybercriminal outfit known for numerous high-profile hacks on major crypto platforms.
Elliptic also said that Lazarus used eXch as part of its process to launder the stolen crypto. The exchange denied the money-laundering allegations, though it did cop to processing an “insignificant” portion of the stolen Bybit funds.
This week, eXch took to the BitcoinTalk forum to announce it was shutting down on May 1st, claiming that “friends” in the state intelligence sector confirmed the exchange is the target of an “active transatlantic operation.”
“Even though we have been able to operate despite some failed attempts to shut down our infrastructure (attempts that have also been confirmed to be part of this operation), we don’t see any point in operating in a hostile environment where we are the target of SIGINT (Signals Intelligence) simply because some people misinterpret our goals. Starting from the date of the merger with a new management team this month, and as a result of some urgent meetings, the majority of us voted to cease and retreat instead of going against strong winds, because none of us want to cause any harm to innocent people or this forum.”
The crypto market has experienced a modest correction, with several major coins witnessing small declines amid a broader bull run.
This dip comes amid significant whale activity, revealing divergent strategies among the crypto market’s largest players.
Crypto Whales Play Both Sides: Accumulating and SellingBeInCrypto Markets data revealed that over the past 24 hours, the broader crypto market has dropped 3.83%. Furthermore, 7 of the top 10 cryptocurrencies are in the red.
Bitcoin (BTC), the flagship crypto, dipped 0.48% over the past day. Ethereum (ETH), Lido Staked Ether (STETH), and TRON (TRX) bucked the trend, with the latter posting the highest gains of 3.19%.
Crypto Market Performance. Source: BeInCrypto MarketsMeanwhile, (Micro) Strategy has bought the dip. The firm announced the acquisition of 21,021 BTC, valued at approximately $2.46 billion. The average purchase price was $117,256 per coin.
This purchase, funded through a $2.5 billion initial public offering of Variable Rate Series A Perpetual Preferred Stock (STRC), increases the company’s total holdings to 628,791 BTC. The firm is now sitting at an unrealized profit of $28.18 billion.
“With approximately $2.521 billion of gross proceeds, this is the largest US IPO completed in 2025 to date based on gross proceeds and the largest U.S. exchange-listed perpetual preferred stock offering in the U.S. since 2009,” the firm added.
Furthermore, its year-to-date BTC yield stands at 25%. This acquisition aligns with the company’s pattern of leveraging equity and debt to bolster its BTC reserves, a strategy that has positioned it as a leading institutional holder.
Besides Strategy, Lookonchain highlighted that Anchorage Digital, a digital asset platform and infrastructure provider, has also increased its Bitcoin exposure.
“Anchorage Digital has accumulated 10,141 BTC($1.19 billion) from multiple wallets over the past 9 hours,” Lookonchain posted.
In contrast, a previously dormant investor’s activities indicated a more profit-oriented approach. Lookonchain reported that after 12 years of dormancy, a Bitcoin holder transferred out 343 BTC, worth $40.52 million. Of this, the ‘Bitcoin OG’ deposited 130.77 BTC, valued at $15.45 million, to Kraken.
“This OG received 343 BTC (around $29,600 at the time) 12 years ago, when the BTC price was $86. That’s a 1,368x return!,” the blockchain analytics firm revealed.
This small transfer follows one of the largest Bitcoin transactions ever executed in the cryptocurrency’s history. BeInCrypto reported that Galaxy Digital sold over 80,000 Bitcoin, worth more than $9 billion, on behalf of a long-term investor.
Ethereum’s market has similarly seen contrasting whale behaviors. A new wallet (0x3dF3) accumulated 12,000 ETH worth over $45 million through Galaxy Digital.
“Since July 9, a total of 9 fresh wallets have accumulated 640,646 ETH ($2.43 billion),” Lookonchain wrote.
However, this accumulation is offset by sell-offs. An on-chain analyst noted that Galaxy Digital deposited 5,000 ETH worth $19.28 million into Coinbase, and Cumberland also transferred 10,592 ETH worth approximately $40.79 million to the same exchange.
Moreover, Fidelity also followed the same path and sent 12,981 ETH valued at around $49.7 million to Coinbase.
“The institutional address suspected to be HashKey Capital transferred 12,000 ETH to OKX the day before yesterday, and then withdrew 46.16 million USDT from OKX yesterday. In other words, those 12,000 ETH have been sold at a price of $3,847,” analyst EmberCN added.
Thus, the crypto whales’ divergent strategies—accumulation versus liquidation—illustrate varying risk appetites and outlooks in the market.
PANews reported on December 4th that WisdomTree's fully staked Ethereum ETP has officially launched, according to the official Lido blog. Its "WisdomTree Physical Lido Staked Ether ETP" (trading code: LIST) is the first ETP product in Europe that only holds stETH minted through the Lido protocol. The product's structure avoids the non-staking buffer mechanism commonly used in traditional products during subscription and redemption.
LIST is listed and traded on the Deutsche Börse Xetra platform, the Swiss SIX stock exchange, and Euronext in Paris and Amsterdam. This product, through holding stETH, provides investors with exposure to staking ETH and its corresponding on-chain staking rewards in a listed product format that aligns with existing institutional business frameworks. At the time of its listing, LIST had approximately $50 million in assets under management and a management fee of 0.50%.
The crypto market capitalization has moved higher over the past day, with broad gains across major coins reflecting improving investor sentiment.
At the same time, the rebound has squeezed bearish positions, with over $468.5 million in short liquidations recorded during the 24-hour window.
Crypto Liquidation Wave Hits Short SellersAccording to BeInCrypto Markets data, total market capitalization has increased by 4.29%. The majority of the top 10 cryptocurrencies have posted gains over the past 24 hours.
Dogecoin (DOGE) jumped 9.10%, marking the strongest performance among the 10 largest cryptocurrencies. Lido Staked Ether (STETH) followed, advancing 8.83%. Ethereum (ETH) ranked third among the top performers, jumping 8.75% and reclaiming the $2,000 level.
Bitcoin (BTC) also posted notable gains, climbing 4.76% over the past day. The flagship cryptocurrency briefly touched $70,027 on Binance yesterday before retracing slightly to trade at $68,647 at press time.
Crypto Market Recovery On February 26. Source: BeInCrypto MarketsBeInCrypto reported that the rally benefited some long traders who recorded profits amid ETH’s latest rise. However, traders betting on further downside saw losses.
According to Coinglass, 128,348 traders were liquidated over the past 24 hours, with total liquidations reaching $575.59 million. Short traders bore the brunt of the losses, accounting for $468.53 million in liquidations, compared to $107.06 million in long positions.
Crypto Market Liquidations. Source: CoinglassBitcoin alone accounted for roughly 40% of total liquidations, with approximately $194.95 million in short positions liquidated. ETH recorded $203.8 million in total liquidations during the same period, with $175.16 million stemming from short positions.
The largest single liquidation order occurred on Hyperliquid for the BTC-USD pair, valued at $10.41 million.
Leveraged positions over the past 7 days have just turned positive.
With today’s short liquidations in BTC, what remains now are longs.
The market works like this — it moves toward where weak hands are most heavily exposed.
That’s easy money for exchanges and the liquidity… pic.twitter.com/UtZ7px3KVr
— Joao Wedson (@joao_wedson) February 25, 2026 Analysts Warn Crypto Relief Rally May Not Signal Full Trend ReversalThe recent rally has sparked optimism, but analysts warn it may not mark a full trend reversal. According to XWIN Research Japan, Open Interest has fallen sharply from prior highs, signaling a broad deleveraging phase.
“The recent drop in price was accompanied by falling OI, suggesting that liquidations and derivatives-driven unwinds — rather than aggressive spot selling — played a major role in the decline. This type of reset can stabilize the market, but it does not automatically signal renewed structural demand,” XWIN Research Japan wrote.
At the same time, Binance’s Fund Flow Ratio remains low at around 0.012. Since this metric tracks BTC inflows relative to total exchange holdings, a low reading suggests limited immediate sell pressure.
The analysis added that during the drop toward the mid-$60,000 range, the ratio did not spike. This suggested there was no panic-driven spot selling.
However, XWIN Research Japan noted that weak inflows do not imply strong accumulation. The medium-term trend of the Fund Flow Ratio’s moving averages is trending downward. It indicates that structural demand has not yet shifted upward.
“When leverage remains suppressed, upward price moves can easily trigger short squeezes. In that case, the rally is driven more by position unwinding than by expanding structural demand,” the post read.
Analyst Darkfost also stressed that an increase in spot trading volume will be necessary for any bullish recovery or solid market bottom to develop.
With EIP 1559 activated, Ether's economic model became similar to that of tech stocks, while Bitcoin (BTC) solidified its "store of value" status. That was a major mistake for Ethereum that damaged ETH, Frax and Everipedia founder says.
Ethereum's network utility fails to catalyze ETH priceEthereum (ETH), the largest smart contracts platform, remains "amazing" and is still on its way to becoming a major issuance layer in the world. At the same time, this inspiring tech journey has nothing to do with ETH price performance, Frax's Sam Kazemian shared on X.
This has been my thesis: Ethereum the network is amazing & going to be the major issuance ledger of the world. But very little, if any, of that value will be captured by the $ETH asset (due to ETH pivoting to a P/E DCF tech stock model). Empirical validation: https://t.co/91N2Sx8Qg6
— sam.frax (@samkazemian) April 10, 2025 As Ether (ETH) keeps disappointing its community, Kazemian sees the wrong narrative as a root cause of its underperformance. With periodical token burn events introduced by EIP 1559 activation on Aug. 5, 2021, ETH pivoted to the wrong utility model:
Biggest mistake was changing the social Overton window of EIP1559 burns as revenue/stock buybacks instead of 'ETH is digital gold/silver/oil like $BTC & some of the commodity gets used up every block as part of the design." Instead, it's now more tech stock instead of BTC-like.
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Also, he opined that, if an EIP 1559 analogue was implemented in Bitcoin (BTC), the "digital gold" narrative of BTC maxis would also be damaged.
As such, with its P/E DCF (price-to-earnings discounted cash flow) valuation model, the ETH cryptocurrency fails to benefit from the battle-tested utility of its underlying blockchain.
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As covered by U.Today previously, EIP 1559 with its fee burn events was the most radical upgrade of Ether tokenomics ever.
ETH/BTC routinely finds new low; is it over for Ether?Ethereum's (ETH) underperformance compared to major cryptocurrencies is in the spotlight for the global crypto community.
In his thread, Nic Puckrin, Coin Bureau founder and CEO, shared some reasons for this painful situation. He noticed that the average ETH owner bears paper losses right now.
Ethereum is having a rough year.
With ETHBTC hitting fresh 5-year lows, the data tells an uncomfortable story.
Will the bleed continue?
Here's what's really going on 👇
— Nic (@nicrypto) April 11, 2025 Ethereum (ETH) has lost its narrative battle to Bitcoin (BTC). Other L1s are eating its lunch when it comes to smart contracts deployment. Even Ether-based L2s siphon liquidity and damage ETH's value.
Institutional money — based on spot ETF performance in the U.S. — clearly chose Bitcoin (BTC) over Ethereum (ETH). Also, it is highly unlikely to benefit from monetary injections globally.
That's why more blood might be ahead for the ETH/BTC pair.
Today, on April 12 in early morning hours, ETH/BTC hit another bottom at 0.18666. It means that 1 Bitcoin (BTC) is now equal to 53.5 Ethers. This is the lowest rate for ETH/BTC since early 2020, data says.
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If you walk into a crowded place and shout Binance, there is probably someone who’s going to open their Binance app to check what’s going on. Centralized exchanges like Binance, Coinbase, and HBTC dominate the crypto space. Their reach in the market is an indication that we are already in the crypto future.
Statista reported earlier in the year that collectively, Binance, HBTC, and Hydax Exchange process $54 billion worth of transactions every 24 hours, almost a third of the global exchange volume.
As crypto adoption continues to rise, a corresponding surge in the decentralized Finance (DeFi) sector has driven interests in DEXes to new heights. But there will always be problems that come with disruption. In the case of DEXes, the widespread problem has always been that decentralization comes at the cost of usability.
The Problem With DEXes And The Rise Of Uniswap Decentralized Exchanges have quickly emerged as solutions to the problems plaguing centralized exchanges. For example, several centralized exchanges have been reported to have technical issues when the crypto market booms. The overreliance on cloud providers like AWS makes it difficult to prepare for these downtimes. Also, abuse of power is a regular occurrence.
The QuadrigaCX scandal is a good reminder of this: $190 million in customer cash stored by the Canadian exchange disappeared with the CEO when he died in 2019, as it was all held on a single hardware wallet with no one knowing the password but the deceased.
Decentralized cryptocurrency exchanges are designed to address issues that centralized exchanges have. They are peer-to-peer (p2p) markets directly built on the blockchain, allowing traders to keep and manage their funds independently. Instead of the exchange or any other middleman directing the flow of money, such as a bank or an internet payment gateway, this procedure is controlled by a series of smart contracts that keep track of transactions on the blockchain on which it is built.
But DEXes also pose a series of problems Many exchange operations on DEXes, such as deposits (also known as locking funds), placing orders, and finalizing trades, require Ethereum transactions on DEXes, resulting in an annoying situation where almost every action you take on a DEX pops up a Metamask window asking for approval, often also requiring pausing while in-between transactions.
In addition, Liquidity is frequently inadequate due to these exchanges’ poor user interface. Because order books are thin and spreads are big, prices are often lower than on a centralized exchange. Most DEXes today charge a premium for their privacy, security, and decentralization features.
Hence, Uniswap Uniswap, unlike other DEXes, does not employ order books and instead relies on an algorithmic pricing method to provide liquidity and minimal spreads. This price method is operationally simple, making Uniswap’s smart contract operations very straightforward. This has the added benefit of increased security, as well as lower gas costs.
Uniswap is an Automated Market Maker (AMM) that establishes token prices using a simple algorithm: x * y = k. The amount of ETH in the pool is represented by x, the number of tokens is represented by y, and k is constant in this equation. When ETH is used to purchase a token, x increases, y decreases, and the token price rises. Users do not input a price they want to purchase or sell at, unlike traditional exchanges. Uniswap works in a similar way to spot markets, where traders can only buy and sell at the current price in real-time.
Built on the Ethereum blockchain, each ERC-20 token traded on Uniswap has a pool of Ether and a pool of the token. The ratio of the size of the ETH pool to the size of the token pool determines the price of the token at any given time.
However, despite the radical departure from the status quo by Uniswap, there are other DEXes that offer alternative features that Uniswap doesn’t offer.
Dexes bringing something new to the table. While Uniswap is popular in the crypto world, there are other DEXes that serve as viable alternatives or offer entirely different features. Here are some of them:
1. Balancer: like Uniswap, Balancer is an AMM that allows users to swap ERC20 tokens. However, as the name suggests Balancer is a portfolio management tool balancing assets in a liquidity pool based on a given ratio.
Balancer has been a critical component of a number of highly successful DeFi initiatives, owing to its dependability, usability, and adaptability. Uniswap’s liquidity pools are always 50:50, whereas Balancer lets liquidity suppliers specify any ratio they choose (such as 98:2).
As a result, many liquidity mining sites choose Balancer over Uniswap since it lowers the danger of temporary loss. Balancer still maintains one of the greatest trade volumes of any decentralized exchange, despite its recent decline in popularity.
2. Solrise: Built on Solana, Solrise is non-custodial and decentralized fund management and investment protocol that helps democratize the investment space. On this DEX, anyone can open a fund or invest.
3. MakiSwap: This DEX runs on the popular AMM protocol as a yield farming platform built on the Huobi Eco Chain. It is the first DEX that will offer a variety of trading experiences including limit orders; charts; analytics; order books, etc. The DEX is a product of the Unilayer Eco-system which allows token holders to also reap rewards.
4. Tezos Liquidity Baking: It is the first protocol layer DEX, giving it an immediate advantage over application layer DEXs such as Uniswap by allowing rewards to be distributed in protocol token rather than application token.
5. Alkemi Network: Unlike the aforementioned, Alkemi Network is a unique DEX in that it does something no other DEX platform does: it fuses CeFi institutions with the DeFi space. It Offers state-of-the-art cryptography and liquidity for financial institutions and individuals to access DeFibanf earn on their Ethereum-based digital assets.
Alkemi Network: Merging CeFi to DeFi There seems to be a rift between Centralized Finance and Decentralized Finance in the crypto space. Thought mostly based on the features both spaces offers, the dichotomies overlaps. But with Alkemi Network, the differences are bridged and fused.
Alkemi is a sophisticated liquidity network created with institutional and retail investors in mind to enable them to access and earn on their Ethereum-based digital assets. It’s the first liquidity platform to allow KYC permissioned and permissionless liquidity pools governed by one network utility token. The network allows participants to remain complaint by making them undergo KYC verifications before being allowed to interact within the pool.
The major offering of this DEX is Alkemi Earn, a permission liquidity pool where trusted counterparties can borrow and lend in wBTC, USDC, DAI, and ETH. Users can then lend and borrow and are also rewarded through the liquidity mining program.
Why Alkemi Network Is Different? There are numerous projects in the DeFi space. But what makes Alkemi stand out is their Alkemi Earn. With earn, users will not only be able to invest, they will be able to lend and borrow while also earning rewards through the liquidity mining program.
Earn pools can also be implemented into centralized exchanges to give consumers who aren’t DeFi power users an embedded experience.
Another thing to consider is that Alkemi Network has an accessible User interface which makes it more accessible for liquidity mining programs. The open-access for all kinds of investors makes it a true DeFi experience.
The KYC used by Alkemi is also industry standard. There’s a rigorous screening of liquidity providers that helps to fortify the borrowing and lending protocol and code.
Bringing it together As the DeFi space continues to expand, new projects will keep popping. The institution-grade liquidity network will help bridge CeFi and DeFi to allow seamless transactions including borrowing, lending, and investing.
