Track market-moving stories before they get noisy

XRP ETF: Hype Or Hope? Experts Weigh In After BlackRock's Cautionary Move

Bob Ras, the Co-Founder of Coreum and Sologenic, has argued that the XRP Leger is at risk of replacement amid Ripple’s alleged selective funding of projects building on XRPL.

Ras recently voiced this sentiment in a series of posts on X. Notably, he issued a compelling call to action directed at Ripple, its development team RippleX, and its CEO Brad Garlinghouse.

Ras emphasized that his message is not to propagate fear, uncertainty, or doubt (FUD) about XRPL. Instead, it stands as a clarion call to awaken XRPL believers to the platform’s current challenges.

(1/10)🧵Unleashing XRPL's Potential!
Calling all #XRPL believers! @Ripple, @RippleXDev, @bgarlinghouse – This isn't FUD, it's a wake-up call. As a founding member of an early XRPL project, I'm deeply concerned about recent events. Let's break it down.

— Bob Ras (@bobrasX) March 25, 2024

Sologenic’s Contributions to XRPL First, Ras drew from his firsthand experience as a founding member of an early XRPL project, Sologenic. He asserted that before Sologenic, the XRPL decentralized exchange lacked usage.

However, according to Ras, announcing their intention to build on XRPL illuminated the network’s potential. Ras reminisced that the development prompted more projects to recognize the feasibility of building on XRPL despite its limitations.

Thereafter, his team went on to develop Sologenic into an enterprise-grade tokenization solution on XRPL. Their efforts included an exhaustive 18-month pursuit of regulatory approval for a broker-dealer license.

However, the landscape shifted dramatically when the SEC lawsuit against Ripple emerged, “shattering regulatory confidence in the entire XRPL ecosystem.”

Coreum’s Contributions to XRPL Amid this development, Ras noted that his team pivoted towards developing Coreum, a blockchain featuring smart contracts and interoperability with other networks. 

He pointed out that Coreum’s utility addressed the deficiencies of XRPL and empowered developers to explore innovative use cases with newfound functionalities.

Last week, Ras’s team unveiled a decentralized, open-source bridge between XRPL and Coreum. The development facilitates seamless transfer of XRPL assets to Coreum while enabling connectivity to Inter-Blockchain Communication (IBC) chains.

With this bridge in place, developers gain access to smart token technology. In parallel, it unlocks many innovative use cases for all XRPL assets that extend beyond just XRP and Sologenic’s native token, SOLO. 

Moreover, retail users can earn rewards by participating in automated market maker (AMM) pools on Coreum and other IBC chains. 

XRPL At Risk with Ripple’s Selective Funding However, Ras raised concerns regarding the RippleX team’s recent endorsement of misinformation regarding another chain’s bridge being the first to implement IBC. He asserted that such actions are misleading and detrimental to the collective efforts of the entire XRPL developer community.

Based on this premise, Ras claimed Ripple shows partiality in supporting XRPL projects. He emphasized that it is in Ripple’s best interest to advocate for all innovative projects developing use cases for XRPL rather than exclusively supporting initiatives associated with ex-employees. He cited examples of a $100 million allocation to the XRPL project Coil.

Furthermore, Ras stressed that without embracing innovation and overcoming its limitations, XRPL faces the same fate as the outdated phone companies replaced by the iPhone due to their failure to innovate.

“To truly care about XRPL, Ripple needs to stop selective funding and support ALL developers building the future,” Ras Lamented.

(8/10) Remember how the iPhone replaced outdated phones? XRPL risks the same fate without embracing innovation. To truly care about XRPL, Ripple needs to stop selective funding and support ALL developers building the future!

— Bob Ras (@bobrasX) March 25, 2024

He added that the XRP community has patiently waited for Ripple’s disruption of cross-border payments and replacement of SWIFT. However, Ras urged Ripple that, if the vision remains distant, it should instead support all builders contributing value to XRPL to foster ecosystem growth like other successful Layer 1 networks. 

Ultimately, he emphasized that his message is not an attack but a call to action to unlock XRPL’s potential as an innovative ecosystem. Ras reiterated the shared desire for XRPL’s success among its community.

Notably, this argument of Ripple not supporting some projects pushing solutions around XRP has persisted for a while. It recently reemerged amid the pioneer NFT project of XRPL announcing its migration to Solana due to a “lack of support.”

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.

Coreum (CORE), an XRPL-based token, secures a listing on leading Latin American Exchange Bit2Me alongside a partnership with the University of California.

Coreum (CORE) has recently been integrated into Bit2Me, an exchange in Spain and Latin America. This integration is part of Coreum’s ongoing efforts to enhance interoperability within the crypto sector.

Coreum is now live on @bit2me, the leading regulated exchange in Spain and LATAM.

While bringing $COREUM to new markets, Bit2Me enables diverse use cases on the platform such as instant transfers via email or phone number, #crypto payments for e-commerce, and more.

Now Live:… pic.twitter.com/nqlxLrODfW

— Coreum (@CoreumOfficial) May 9, 2024

With its listing on Bit2Me, Coreum is now accessible to a wider audience in the burgeoning markets of Spain and Latin America. Bit2Me offers a suite of services that complement Coreum’s offerings, including the ability to conduct instant transfers via email or phone number, and the facilitation of cryptocurrency payments for e-commerce.

On the same day, Coreum also announced a partnership with the University of California, Santa Barbara through its University Ambassador Program. This collaboration will feature during the upcoming UCSB Blockchain Summit, further highlighting Coreum’s commitment to fostering education and engagement in the blockchain community.

Fast Transactions Meet Modern Finance Needs Coreum, built on top of Tendermint and Cosmos SDK, is designed to handle enterprise-scale operations with a transaction speed capability of up to 7,000 transactions per second (TPS). Its architecture is compliant with ISO20022 standards, facilitating efficient cross-border settlements.

As earlier reported by The Crypto Basic, Coreum launched a bridge to the XRP Ledger (XRPL), allowing seamless transactions between the two chains and enhancing liquidity for its users. There was a surge in volume of XRP tokens bridged to the Coreum network by market participants in April. 

Bit2Me on its hand supports multi-currency operations, allowing users to manage both Coreum and traditional money efficiently. The platform’s flexibility extends to creating multiple wallets in different currencies, tailored to various spending needs such as holiday savings or monthly budgeting.

Coreum Suffers Market Decline Despite these technological strides and market expansions, Coreum’s market price has faced downward pressure. Currently priced at $0.0951, with a 24-hour trading volume of $1,834,419.43, it has experienced a 2.66% decline in the last day and a 6.40% fall over the past week. 

These figures indicate a challenging environment for Coreum, especially when contrasted with the broader cryptocurrency market’s slight downturn of 0.10% and other similar cryptocurrencies, which have collectively risen by 5.70%. On the social engagement front, Coreum’s visibility in cryptocurrency-related discussions has shown fluctuations correlating with its market activity, per Santiment data.

At its peak in December 2023, Coreum achieved a high trending rank on social platforms, indicating a spike in public interest and discussion during that period. However, this interest has seen a decline following the peak, as evidenced by a downward trend in social volume and engagement metrics.

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.

An asset tokenization altcoin is surging after announcing a new partnership with a broker-dealer registered with the U.S. Securities and Exchange Commission (SEC).

Earlier this week, asset tokenization platform Sologenic (SOLO) announced a partnership with Texture Capital, a US-based broker-dealer that specializes in blockchain technology and digital assets.

[adinserter block="1"]

News of the collaboration served as a catalyst for the platform’s native asset, SOLO, to skyrocket from a price of $0.29 on November 21st to a price of $0.83. It has since stabilized and is trading for $0.77 at time of writing, an increase of over 110% during the last 24 hours.

Together, Sologenic and Texture Capital will roll out SoloTex, a trading platform approved by FINRA (The Financial Industry Regulatory Authority) that lets blue-chip investors tokenize securities. However, no specific date was provided for its launch.

“Solotex is currently under development. Upon regulatory approval and launch, the platform aims to transform global markets by offering access to tokenized assets…

Together, both teams are leveraging a collective expertise in blockchain development, regulatory compliance, and financial markets infrastructure to build a comprehensive platform that will aim to facilitate access to tokenized financial assets.”

Sologenic launched in 2019 as a decentralized exchange (DEX) platform built on the XRP Ledger that allowed investors to tokenize and trade stocks. It went on to incorporate crypto assets and non-fungible tokens (NFTs).

Generated Image: Midjourney

The XRP Ledger (XRPL) ecosystem is surging, with its top cryptocurrencies leading the market’s gainers at last check early Sunday morning.

Over the past seven days, XRP has climbed 11.8%, while Sologenic (SOLO) and Coreum (COREUM) soared 21.6% and 21.4%, respectively.

The rally highlights growing momentum for XRPL-based assets, outpacing Polkadot (DOT) and Kusama (KSM), which are up 3.4% and 2.9%.

XRP’s seven-day trajectory: CoinGecko Built for fast, low-cost cross-border payments and asset tokenization, XRPL is a decentralized blockchain with a built-in decentralized exchange (DEX), trust lines for asset issuance, and sidechains for expanded functionality. Its ecosystem is expanding, with non-fungible token (NFT) support, smart contract integration (Hooks), and DeFi applications gaining traction.

Ripple, a key contributor to XRPL, has been driving institutional adoption, while the XRPL Foundation and developer community continue to enhance the network’s capabilities. The recent surge in XRPL-related tokens suggests growing confidence in its ecosystem as tokenization, payments, and DeFi innovation accelerate.

Why? For starters, the U.S. Securities and Exchange Commission (SEC) recently acknowledged Grayscale’s 19b-4 filing for an XRP exchange-traded fund, or ETF.

Analysts now project a surge in institutional investment if and when it’s approved.

Polymarket bettors like the odds. According to the website, where crypto holders can gamble on real-world events, there’s an 81% chance of approval this year, according to Cointelegraph.

JPMorgan analysts also reported that a spot XRP ETF could bring in up to $8 billion in institutional money. Should the XRP ETF get the green light, it’ll rank alongside Bitcoin and Ethereum — already spot ETF-approved — as a top cryptocurrency attracting institutional investors.

Grayscale plans to transform XRP Trust into a tradable ETF, once approved the conversion would increase liquidity and accessibility for investors all around the world.

The SEC’s acknowledgment is one step in the approval process. The fact that Ripple CEO Brad Garlinghouse is hobnobbing with politicos in Washington, D.C. this past week has certainly helped boost the chances as well.

Walked away from an action-packed day in DC yesterday with the feeling that there is (finally) an incredible opportunity to advance meaningful bipartisan legislation that establishes clear, constructive and pro-innovation regulatory frameworks for crypto.

Thank you to these… pic.twitter.com/LF6V536udg

— Brad Garlinghouse (@bgarlinghouse) February 13, 2025 Currently, XRP’s price is trading at $2.78, with a 24-hour trading volume of $3.5 billion. As for the other top cryptocurrencies, here’s a look at their seven-day trajectories:

CRYPTOCURRENCYPRICE7-DAY GAINS +/-Bitcoin (BTC) $97,514.17+0.3%Ethereum (ETH) $2,699.44+1%Solana (SOL) $194.54-5.6%Cardano (ADA) $0.7837+10.4%Dogecoin (DOGE) $0.2704+4.6%Shiba Inu (SHIB) $0.00001617-0.9%

Renowned trader D.I.Y. Investing says the XRP Ledger is on the brink of a major breakthrough, urging traders to get involved early while prices remain low.

In a tweet, he emphasized the urgency for traders to load up on XRP in their wallets and begin trading altcoins on the XRPL as soon as possible. He stressed that the network is on the verge of a significant breakthrough.

According to the trader, there are life-changing opportunities still trading at “pennies on the dollar” on the XRPL. Consequently, he warned traders not to overlook the potential of this ecosystem.

XRP Ledger: Home to the Next Altcoin Boom? The XRP Ledger is a decentralized, open-source blockchain known for its fast settlement times, low fees, and built-in DEX functionality. Although it has existed since 2012, its altcoin ecosystem is only now attracting growing attention due to the recent introduction of additional features.

A few months ago, Ripple CTO David Schwartz voiced support for the rising meme coin trend on the XRPL after accepting a gift of 15 DROP tokens from the team behind the DROP meme coin. Sharing his wallet address, Schwartz said he “likes this trend,” signaling a positive stance toward community-driven tokens.

The trend gained momentum following the launch of Memepad on Magnetic X DEX, a platform enabling users to create and launch meme tokens. According to The Crypto Basic, over 70 new meme coins emerged shortly after the debut.

Now, D.I.Y. Investing’s remarks suggest that the next wave of gains may not come from mainstream chains but from underexplored ecosystems like XRPL, where valuations are still modest and trading activity is just beginning to heat up.

What Will the Next Boom Look Like? The XRP coin leads the XRPL ecosystem with a market cap of over $182 billion. At press time, XRP is trading at a seven-day decline of 11.3%, priced at $3.08.

According to D.I.Y. Investing, most market participants have no idea how massive the incoming XRP breakout could be. He suggested that the recent 70% surge in XRP might pale in comparison to what’s coming next, calling this the moment long-term holders have been waiting for.

In particular, he is forecasting prices as high as $30, a massive increase of 874%. For context, this would push XRP’s market cap from $180 billion to over $1.177 trillion.

Most people have no idea how big this $XRP breakout is about to be 📈

If you’ve been stacking since $0.15 — this is the moment we’ve waited years for.

The path to $30 XRP is real… and I’ve never been more serious. #XRP #XRPL pic.twitter.com/FFDnNjbaba

— D.I.Y Investing (@vajolleratzii) July 24, 2025

Other XRPL Tokens Another leading token in the XRPL ecosystem is Sologenic (SOLO), which ranks just below XRP with $177 million cap. It is currently trading at $0.444, a 12% discount from last week’s price. 

Despite the dip, SOLO retains an impressive 30-day gain of 80%, highlighting its strong performance during the recent global crypto bull run.

Other XRPL ecosystem tokens trading at significant discounts from their weekly highs include Phoenix (PHNIX), PONGO, XRPayNet, and Lucretius (LUC). These tokens have market caps ranging from $237,000 to $33 million.

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.

PANews reported on October 15th that, according to CoinDesk , SoloTex, a joint venture between Texture Capital and Sologenic , has received FINRA approval and plans to provide "real on-chain" stock ownership to US retail users. Built by Texture Capital , a FINRA -registered broker-dealer, the platform aims to tokenize traditional stocks and settle them on-chain, making it accessible to retail traders. Executives stated that SoloTex will enable compliant issuance, custody, and secondary trading, supporting the tokenization and transfer of US stock assets.

[PRESS RELEASE – Zug, Switzerland, December 5th, 2024]

Holyheld, a leading Swiss crypto payments startup, announced today that it has secured funding to accelerate BRRR protocol with investment from Toyota Ventures, TempleDAO, Tomahawk VC, Prismatic Capital, Zee Prime Capital, Polygon, Kosmos Ventures, Moonlanding Ventures, as well as from angel investors from leading projects including Lido, Olympus, Dinero, Paragon, Superfluid, vfat, Inverse Finance, Daedalus, DCV, Generative Ventures, and Vamient. In an effort to fill the critical infrastructure necessary for users to transact globally with merchants instantly, Holyheld’s BRRR protocol aims to connect public blockchain networks, traditional payment, and card networks to create a global layer of real-time payments.

“This opportunity consolidates our lead in the market, and fuels our drive to redefine how real-time clearing of payments should work,” said Anton Mozgovoy, Holyheld CEO. “With our technology of global stablecoin orchestration, we’re well-positioned to transform how users and businesses conduct business today with payments of tomorrow.”

BRRR’s protocol is used to power Holyheld’s app, a leader in the European market in the segment of Web3 payments apps, which offers a cash account with a debit card available to residents of 30 European countries. Users of the Holyheld app can connect any self-custody wallet and use their cryptocurrency for daily purchases. This enables traditional consumer behaviors, like swiping or tapping a credit card or mobile device for payment, while users maintain self-custody of their funds.

“This funding is an essential step as we work towards our vision of enabling crypto customers and fintechs to build new payment settlement and reconciliation solutions using crypto.” Dr. Anton Zagorodnikov, Holyheld co-founder and CTO, added.

The new funding will allow Holyheld to continue expanding the protocol to more clients and payment networks globally. Holyheld has integrated over one hundred leading crypto protocols across 15 blockchain networks. The company’s BRRR has also orchestrated over $100M in volume since its launch in April of 2023.

“Holyheld turns any self-custody wallet into a personal IBAN and a debit card, which enables users to have a frictionless digital wallet experience,” said Chris Abshire, principal, Toyota Ventures. “We are excited to work with Holyheld’s team as they build the leading on-chain clearing house.”

To learn more about Holyheld, users can visit https://holyheld.com/ or https://holyheld.com/BRRR

About Holyheld

Founded in 2022, Holyheld is committed to enabling crypto customers and fintech to build new payment settlement and reconciliation solutions using stablecoins. With offices in Zug, Switzerland and Vilnius, Lithuania, the company’s first product is a Web3 debit card that allows users to make traditional payments with digital assets. Holyheld’s Blockchain Reconciliation and Remittance Record (BRRR) protocol enables consumers who are invested in blockchain-related assets to have significant purchasing power in the real world. To learn more about Holyheld, users can visit https://holyheld.com/ or https://holyheld.com/BRRR.

At least two DeFi projects were targeted by significant exploits in the early hours of today, resulting in millions of dollars in losses.

Sonne Finance exploitedDecentralized liquidity provider Sonne Finance fell victim to a $20 million exploit on its Optimism network-based USDC and Wrapped Ethereum (WETH) contracts, according to blockchain security firm Cyvers.

In a May 15 statement, the DeFi protocol confirmed the incident and attributed the exploit to a donation attack on its Compound v2 forks. It stated:

“We avoided the issue in the past, by adding the markets with 0% collateral factors, adding collateral and burn them, only then increase the c-factors according to the proposals.”

However, an integration attempt of VELO into the Optimism market allowed the attacker to exploit the protocol unnoticed, resulting in the loss.

Meanwhile, security experts prevented an additional $6.5 million theft by injecting $100 VELO as collateral into the soVELO pool.

Sonne Finance has expressed readiness to offer a bounty to the attacker as efforts to recover the funds continue.

Following the theft, the price of SONNE, a digital asset connected to the project, fell by more than 60% to $0.02617 as of press time.

Bitcoin DeFi project lose over $4 millionALEX Lab, a Bitcoin DeFi application, lost over $4 million in various tokens to a hacking incident earlier today.

CryptoSlate Daily Brief

Daily signals, zero noise.Market-moving headlines and context delivered every morning in one tight read.

5-minute digest 100k+ readers

Free. No spam. Unsubscribe any time.

You’re subscribed. Welcome aboard.

Blockchain security firm CertiK reported that the attackers likely gained access to the private key controlling ALEX's XLink bridge. This service enables users to transfer tokens across different blockchains.

The hacker successfully moved approximately $300,000 worth of BTC, $3.3 million in stablecoins, and $75,000 of Sugar Kingdom tokens.

ALEX Lab developers confirmed the hack and asserted that they had identified the attacker. The team also stated:

“A significant amount of the funds associated with the hacker has been frozen by major exchanges, preventing further misuse.”

Nevertheless, the project offered a 10% bounty to the hacker, adding that:

“ALEX assures that upon compliance, there will be no further pursuit or law enforcement involvement. This offer stands until 18 May at 0800 UTC. The individual responsible should contact [email protected].”

Mentioned in this articlePosted in

In a series of alarming incidents, two prominent decentralized finance (DeFi) platforms, Sonne Finance, and ALEX Lab, have been targeted by sophisticated hacks, resulting in a combined loss of $24.3 million in cryptocurrencies.

Sonne Finance halted operations after a $20 million exploit, while ALEX Lab lost $4.3 million due to a suspected private key compromise. Both platforms are now in a race to recover their stolen assets and prevent future breaches.

Sonne Finance: $20 million heist Lending protocol Sonne Finance was forced to pause operations after suffering a hack that drained $20 million worth of cryptocurrencies from the market. 

The attack, which targeted Sonne Finance’s USD Coin (USDC) and Wrapped Ether (WETH) contracts, was detected on May 14 by Web3 security firm Cyvers.

Sonne Finance announced the suspension of all markets on the Optimism (OP) blockchain to mitigate further damage. Partnering with Cyvers, the protocol is actively investigating the breach and exploring options to recover the stolen funds, including negotiating a bug bounty with the hacker. ‘

However, blockchain investigator PeckShield reported that the hacker has already moved a substantial portion of the loot ($7.8 million) to a new wallet address.

The hacker then swapped 59 Wrapped BTC (WBTC) for roughly 1,185 Ether (ETH) and 183,000 Dai (DAI), indicating an intent to use a privacy protocol like Tornado Cash to obscure the transaction trail.

Details of the exploit According to the incident analysis by Certik ,the attack exploited a known bug in Sonne’s Compound v2 forks via a donation attack, manipulating the platform’s exchange rates by donating large amounts of cryptocurrency. 

This manipulation tricked the system into overestimating its collateral, allowing the hacker to siphon off millions. Blockexplorer data showed the attacker transferred millions of VELO, ETH , USDC following the manipulation, later converting these to $8 million in Bitcoin and Ether.

The SONNE token has since plummeted by 60%, drastically reducing its market cap to $20 million, even though developers managed to prevent an additional $6.5 million from being siphoned off once the attack was identified.

ALEX Lab: $4.3 million compromise Simultaneously, ALEX Lab, a Bitcoin DeFi tool, was drained of over $4.3 million in various tokens due to a suspected private key compromise. Security researchers from CertiK revealed that the attackers likely obtained a private key controlling ALEX’s XLink bridge, a service facilitating token transfers between different blockchains.

#CertiKInsight 🚨

We have seen a suspicious transaction affecting @ALEXLabBTC

Initial evidence points to a possible private key compromise.

Deployer of 0xb3955302E58FFFdf2da247E999Cd9755f652b13b upgrades to a suspicious implementation.

In total ~$4.3m worth of assets have… pic.twitter.com/02kiw2dFrm

— CertiK Alert (@CertiKAlert) May 14, 2024 The breach resulted in the loss of over $300,000 worth of Bitcoin, $3.3 million in stablecoins, and $75,000 in Sugar Kingdom (SKO) tokens.

ALEX developers confirmed the hack and claimed they knew the attacker’s identity, offering a 10% bounty for the return of 90% of the stolen funds. Major exchanges have since frozen funds associated with the hacker to prevent further misuse.

The recent hacks on Sonne Finance and ALEX Lab highlight the persistent security challenges facing DeFi platforms.

As these platforms work to recover stolen assets and enhance their security frameworks, the incidents serve as a stark reminder of the vulnerabilities inherent in the rapidly evolving DeFi landscape.

The developer of Bitcoin-focused defi platform ALEX Lab says North Korean hackers are likely behind the latest $4 million attack.

North Korean hacker group Lazarus Group is very likely responsible for the attack that left Bitcoin-focused defi platform ALEX Lab without $4 million worth of tokens earlier in May. In an X post on Jun. 25, ALEX Lab’s official account said there’s “substantial transaction evidence” showing that the attack is linked to the Lazarus Group.

https://twitter.com/ALEXLabBTC/status/1805415489717551402

In mid-May, ALEX Lab was drained of more than $4.3 million in multiple tokens following the attack on its bridging service. Shortly after the attack, ALEX Lab developers revealed in a now-deleted X post they “identified the individual responsible for the recent security breach.” At the same time, the team offered a 10% bounty for the return of 90% of the stolen funds. Later on, the post was quietly removed without further explanation.

The ALEX Lab team assures its customers that it is “actively collaborating with international law enforcement and cybersecurity experts to address the implications of this attack and to recover lost assets,” adding that “enhanced security protocols are being implemented.”

Launched in 2021 by former bankers Chiente Hsu and Rachel Yu, ALEX Lab was developed to simplify the use of decentralized finance (defi) services on Bitcoin via Stacks, a platform for smart contracts. According to data from CoinCarp, the startup raised a total of $18.3 million, though its valuation hasn’t been disclosed.

ALEX, the native token of Bitcoin layer-2 (L2) bridge ALEX Lab, emerges as the top gainer among the largest 500 crypto assets over the past 24 hours.

This remarkable uptrend comes on the back of the broader recovery campaign engineered by Bitcoin (BTC) and the altcoin market. Despite the sustained selloffs from the German government, BTC rebounded on July 9, coinciding with a similar increase in ALEX’s price.

ALEX price – July 11 | Source: CoinMarketCap However, while the flagship crypto asset witnessed a correction on July 10, ALEX maintained its bullish trajectory. The token spiked 21.72% yesterday, further building on the momentum to register a 57% increase this morning.

Remarkably, ALEX has increased 108% since Monday, leveraging the renewed market-wide strength to breach key resistance levels. Amid the bullish run, the asset has now breached the 50% Fibonacci retracement zone at $0.1379, flipping it into support. ALEX now eyes the Fib. 61.8% level at $0.1566.

ALEX emerged as the top gainer among the leading 500 cryptocurrencies with a 70% rally in the past 24 hours. the asset is trading at $0.14 at the time of writing. Its daily trading volume spiked 1,245%, reaching $49.91 million, indicating increased interest among market participants.

This bullish momentum comes two months after ALEX Lab suffered a $4.3 million hack, an attack it attributed to the Lazarus Group. The ALEX token tumbled 28% following the incident. While the event impacted investor sentiment, confidence in the protocol has since returned, recently evidenced by the latest demand around its native token.

Launched in 2021, ALEX Lab is a layer-2 Bitcoin defi protocol running on Stacks smart contracts. The protocol provides a launchpad, a decentralized exchange (DEX) and a lending and borrowing market.

PANews reported on May 18th that the ALEX Lab Foundation submitted governance proposal AGP-8, proposing structural adjustments to the ALEX protocol, including ceasing ALEX community token issuance, closing the Treasury Grants Program (TGP), and introducing a protocol-driven token buyback and burn mechanism. Currently, the circulating supply of ALEX is approximately 973 million, close to the 1 billion limit. If the proposal passes, the next 32 cycles will be the final ALEX issuance cycle, after which no new tokens will be issued. Approximately 1.568 million STX tokens remain unclaimed in the TGP 2024 treasury. After a 30-day grace period, the ALEX Lab Foundation will use these funds to buy back and burn ALEX tokens at market prices. Future protocol revenue, after covering operating costs, will also be used for continued buybacks and burns. This proposal marks ALEX's shift from an inflationary to a deflationary model. Voting will take place from 10:00 AM on May 17th to 10:00 AM on May 31st (UTC+8).

Cosmos [ATOM] made it to the list of top inter-blockchain communication (IBC) protocol projects as of 18 October. According to the data at hand, ATOM’s weekly active users surpassed all other cryptocurrencies that made it to the list. 

Top #IBC Projects by Weekly Active Users 🔥

🥇 $ATOM @cosmos
🥈 $OSMO @osmosiszone
🥉 $EVMOS @EvmosOrg$CRO @cronos_chain$LUNA @terra_money #CroFam @cryptocom$UMEE @Umee_CrossChain$SCRT @SecretNetwork$EROWAN @sifchain$MNTL @AssetMantle#IBCGang #Cosmonauts@MapOfZones pic.twitter.com/uqUus958dQ

— TKResearch Airdrop (@TKRAirdrop) October 18, 2022

________________________________________________________________________________________

Here’s AMBCrypto’s Price Prediction for Cosmos (ATOM) for 2023-24

________________________________________________________________________________________

The IBC allows independent blockchains to directly communicate and trade assets with each other. Therefore, this development added much value to the blockchain as it represented the capabilities of ATOM. 

The token’s price also corresponded to this development as it registered nearly 3% weekly gains. According to CoinMarketCap, ATOM’s press time price was $12.45 with a market capitalization of $3,564,241,363. 

Several developments also in the ecosystem acted as the cherry on the cake and suggested a price surge in the near future. For example, 17 new projects were recently added to the Cosmos ecosystem, which looked quite promising. 

Alpha Google Sheet Has Been Updated.

Check it out: https://t.co/KOpn45NUUQ

Added Updates:
➕ 17 New Cosmos $ATOM Ecosystem Projects.
➕ 30 New Projects Without Tokens.
➕ 29 Early Stage Projects on the $APT Ecosystem.

🧵Total Projects: 290+ pic.twitter.com/vDgdB0Jb0S

— Airdrop Official 🦇🔊 (@its_airdrop) October 17, 2022

A sky full of Cosmos… In addition to the aforementioned developments, ATOM’s metrics also painted a bullish picture for the coin. Several metrics suggested a price surge in the near future. For instance, after registering a decline, ATOM’s volume went up, which was a bullish signal.

Source: Santiment ATOM’s Binance funding rate also witnessed a surge in the last few days, thus indicating higher interest from the derivatives market. Not only this, but ATOM’s social volume also spiked, representing ATOM’s popularity levels within the crypto community.

Source: Santiment However, not everything was working in ATOM’s favor as its development activity went down considerably, which is a red signal as it indicates less effort from the developers in improving the blockchain. 

… and bears apparently A look at ATOM’s daily chart revealed that the bulls and the bears were fighting a battle. The Exponential Moving Average (EMA) Ribbon indicated a similar situation with the bears having a slight edge in the market. Moreover, ATOM’s Relative Strength Index (RSI) rested below the neutral position. 

Nonetheless, other market indicators were positive and suggested a price surge in the coming days. The Moving Average Convergence Divergence (MACD) displayed an attempt to make a bullish crossover. ATOM’s Chaikin Money Flow (CMF) did manage to cross the zero line, but moved sideways at press time. 

Source: TradingView

Renowned crypto payment platform Ripple Labs Inc has signed a partnership deal with Evmos, an  Ethereum Virtual Machine (EVM) chain built with the Cosmos SDK. Per the deal, the duo plans to build an EVM sidechain for XRP Ledger (XRPL).

XRPL Joins Interchain  According to Cosmos, the sidechain will be built with evmOS, a modular and customizable tech stack designed by Evmos. This alliance to build a sidechain with Evmos is already in Devnet and would involve core developer Peersyst Technology.  Aside from Cosmos SDK, Evmos also utilizes Inter-Blockchain Communication Protocol (IBC), and CometBFT. These advanced protocols are all geared toward bringing EVM compatibility to Web3.0 businesses.

Markedly, evmOS bring access to over 60 Cosmos SDK chains via the IBC. This upcoming XRP Ledger EVM sidechain is very compatible with industry standards.  Additionally, it is joining the Interchain, known to be one of the most versatile in the Web3.0 ecosystem.

This tech stack has other features and modules that are focused on facilitating the implementation of the EVM for Cosmos SDK. Amongst its compatible features are IBC functionality, EVM extensions, access to the dApp Store, and complete customizability. Pulled together, all these presents evmOS as more than just lines of code but rather a ready-to-launch solution  designed to cater to everyone.

“The evmOS stack prioritizes native, cross-chain applications and is built with the Cosmos SDK, running on the CometBFT consensus engine,” Cosmos wrote in a blog post. “The modular nature of evmOS will offer XRPL developers unseen flexibility in expanding the XRPL EVM sidechain on their terms.”

XRP Ledger Pushes For Community Satisfaction  For XRP Ledger, this marks a significant move towards bringing its community members, Decentralized Applications (dApps), and liquidity to a network of more than 90 interconnected chains. Noteworthy, the interchain now pride itself as a vibrant and dynamic network that fosters synergy among diverse blockchain projects.

Similarly, bringing XRP Ledger to the interchain makes it possible for XRPL community members to gains a passport to all Cosmos SDK chains. Ultimately, this provides users with freedom to interact with any application of their choice.

This EVM push comes only a few months after XRPL welcomes Xahau Ledger, a smart contract sidechain. Like evmOS, the Xahau Ledger also came with some features that allow building things with everyday life utility.

The XRPL ecosystem is keen on improving its platform to cater to its users and compete in the growing DeFi world.

Read More: Ethereum ETFs Risk Denial By SEC, Bloomberg Analyst Warns

Ripple Partners With Evmos to Build XRP Ledger EVM Sidechain

Evmos pays $150K for critical bug found in Cosmos documentation

Saga Launches Mainnet 2.0 to Transform Blockchain Economics, Partners with Uniswap

Market Sentiment: Current sentiment among smart money and retail funds in the market is at a neutral level.

According to the latest data from SentimenTrader, as of June 24, the Smart Money Confidence Index stands at 0.56, while the Dumb Money Confidence Index is at 0.49. Both smart money and retail investor sentiment are currently in the neutral range, with no clear optimistic or pessimistic bias emerging in the market.

3 minutes ago

Sandisk's tokenized stock SNDK is now live on the Solana network.

According to official announcements, Sandisk’s tokenized stock SNDK has officially launched on Solana via Sunrise. SNDK is the tokenized stock representing SanDisk, the storage chip manufacturer. Users can now trade SNDK 24/7 through various wallets and applications within the Solana ecosystem, even when traditional stock markets are closed.

3 minutes ago

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.

3 minutes 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.

3 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)

3 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.

3 minutes ago

#ARPA | Volume spike (USDT PAIR)
9 times the average volume
137.26K USDT traded in 15 min
└Buying vol: 70.31K USDT 🟢
Boost score: 5/10
24h Vol: 1.34M USDT (#Binance)
Price: 0.03726 (-0.7% in 24h) $ARPA #BTC pic.twitter.com/5bgznQfpiC

— Coin Sonar V2 (@CoinSonarBot) August 30, 2024

ARPA crypto saw a 43% price surge in the last 24 hours, with its market capitalization now exceeding $91 million. Despite signs of overbought conditions, ARPA maintained a bullish momentum. According to data, ARPA crypto has emerged as the highest gainer in the last 24 hours.

Although there have been corrections in the last 24 hours, the asset maintains the top spot among the top 500 crypto assets with the largest market capitalization. 

ARPA crypto emerges as top gainer In the past 24 hours, ARPA crypto has risen to become the top-performing asset, according to CoinMarketCap. Its value has surged by over 43%, solidifying its position as the biggest gainer. 

This impressive increase has boosted its market capitalization to over $91 million. At the same time, its trading volume has skyrocketed by more than 4,000%, reaching a remarkable $378 million.

Signs of corrections Although ARPA crypto experienced a sharp rise, analysis of its daily chart revealed signs of a price correction.

After hitting a recent high of $0.0690, it has pulled back by 4.33%, trading around $0.0596 as it encountered resistance.

This correction may indicate the start of a consolidation phase or a pullback before another potential price surge.

Source: TradingView Also, it was trading well above its 50-day moving average, around $0.0413 at press time, signaling that the bullish momentum had driven prices higher.

The spike has also breached the upper bound of the Ichimoku Cloud, signaling a breakout. 

However, this swift price movement has raised concerns that the rally may have been overextended, as momentum indicators suggest a pause could be imminent.

RSI and ATR point to overbought and high volatility The Relative Strength Index (RSI) for ARPA was 74.28, firmly in overbought territory at the time of writing. When the RSI surpasses 70, an asset may face a short-term correction as buying pressure decreases.

This aligns with the price pullback from its daily high, indicating that traders may be taking profits after ARPA’s rapid surge.

Additionally, the Average True Range (ATR), which measures market volatility, has surged to 0.0053, reflecting heightened volatility in recent sessions.

This increased volatility often accompanies sharp price movements, suggesting that ARPA crypto may experience further fluctuations before settling into a more stable trend.

What to expect next for ARPA crypto Traders should closely monitor ARPA crypto as it tests resistance near $0.0690. A breakout above this level could push the price toward $0.075, confirming the continuation of its uptrend.

On the downside, immediate support can be found near $0.0548, with a stronger support level around the 50-day moving average at $0.0413.

Given the current overbought conditions and heightened volatility, ARPA may enter a consolidation phase before its next significant price movement.

A period of sideways trading could allow technical indicators like the RSI to cool off, potentially paving the way for a medium-term rally. 

However, ARPA may face a deeper retracement toward $0.050 or lower if it fails to hold key support levels.

Montana Lawmakers Reject Bitcoin Reserve Bill in 41-59 Vote

What are Crypto 1099 Forms? A Guide to Taxes in The US

ARPA: ZKML 101: A Beginner’s Guide to Zero-Knowledge Machine Learning

Market Sentiment: Current sentiment among smart money and retail funds in the market is at a neutral level.

According to the latest data from SentimenTrader, as of June 24, the Smart Money Confidence Index stands at 0.56, while the Dumb Money Confidence Index is at 0.49. Both smart money and retail investor sentiment are currently in the neutral range, with no clear optimistic or pessimistic bias emerging in the market.

3 minutes ago

Sandisk's tokenized stock SNDK is now live on the Solana network.

According to official announcements, Sandisk’s tokenized stock SNDK has officially launched on Solana via Sunrise. SNDK is the tokenized stock representing SanDisk, the storage chip manufacturer. Users can now trade SNDK 24/7 through various wallets and applications within the Solana ecosystem, even when traditional stock markets are closed.

3 minutes ago

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.

3 minutes 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.

3 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)

3 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.

3 minutes ago