Ripple’s XRP Faces Key Test with Support Holding and Resistance Capping Upside XRP is once again at a crossroads as it hovers just below the $3.00 level, consolidating within a tightening descending triangle pattern. With price trading around $2.89, traders are closely watching to see whether bulls can force a breakout or if mounting resistance will lead to a deeper pullback. The daily structure reveals that XRP has been oscillating between support at $2.70–$2.75 and strong resistance near $3.00–$3.10. This compression within the triangle suggests that volatility is being stored up for a decisive move. Above current levels, XRP faces…
Author: Blockto Team
DeFi platform’s total value locked plunges 75% after hack Nemo, a yield protocol built on the Sui blockchain, suffered a $2.4 million exploit on Monday, becoming the latest decentralized finance (DeFi) platform to fall victim to hackers. The attacker drained funds in USDC, highlighting ongoing security risks across the DeFi ecosystem. According to blockchain security firm PeckShield, the attacker stole $2.4 million worth of USDC before bridging the tokens from Arbitrum to Ethereum. The exploit underscores vulnerabilities in cross-chain mechanisms, which continue to be a major attack vector in the DeFi space. Impact on Nemo protocol Nemo is a yield…
Japanese firm targets 210,000 BTC, El Salvador celebrates Bitcoin Day with symbolic buy Metaplanet, a Japanese investment company, and El Salvador, the first country to adopt Bitcoin as legal tender, expanded their Bitcoin holdings on Monday. The purchases coincided with the Crypto Fear & Greed Index shifting back to neutral after several days in the “fear” zone. Metaplanet’s long-term Bitcoin strategy Metaplanet disclosed that it had purchased 136 additional Bitcoin, bringing its total to 20,136 BTC, worth over $2.2 billion at current prices. In June, CEO Simon Gerovich revealed the company’s ambitious plan to acquire 210,000 BTC by 2027, which…
Dogecoin Consolidates as Bulls Defend Key Support Dogecoin (DOGE) is showing signs of stabilization after weeks of steady declines, with the token trading around $0.00225. While momentum remains weak, the formation of higher lows near the $0.0022 support zone suggests that buyers are attempting to regain control, even as strong resistance caps further upside. The daily chart highlights a critical green support area around $0.0022, where price has repeatedly found a base over recent sessions. This zone coincides with the same level that provided a springboard for May’s rally, indicating its importance as a structural demand level. On the upside,…
Arkham claims 45,000 BTC tied to piracy site still remains in wallets German authorities may have overlooked a massive trove of over 45,000 Bitcoin connected to the defunct piracy platform Movie2K, according to new findings from crypto intelligence firm Arkham. The stash, valued at nearly $5 billion, could rival the record seizure made last year but has so far remained untouched. Billions in Bitcoin still unclaimed In January 2024, German investigators seized nearly 50,000 BTC from suspects allegedly involved in operating Movie2K. That amount was sold in mid-2024 for around $2.8 billion, just months before Bitcoin prices nearly doubled. Arkham…
The debate over Ordinals and Runes transactions has escalated within the Bitcoin community, with leading Ordinals developer Leonidas warning that his team could fork Bitcoin Core if censorship efforts move forward. Open Letter Against Transaction Censorship In an open letter posted on X, Leonidas, host of The Ordinal Show, said that any move to restrict or censor Ordinals, Runes, or other non-financial transactions would be met with “decisive action.” “If necessary, the DOG Army will fund the development and maintenance of an open-source fork of Bitcoin Core that strips out nearly all policy rules,” Leonidas stated, adding that thousands of…
The boom in crypto treasury firms — companies holding large amounts of Bitcoin on their balance sheets — could be heading for turbulence, according to New York Digital Investment Group (NYDIG). Premiums to Net Asset Value Shrink Greg Cipolaro, NYDIG’s global head of research, noted that the gap between the share price and net asset value (NAV) of major Bitcoin-holding firms like Strategy and Metaplanet has continued to narrow, even as Bitcoin trades near all-time highs. “The forces behind this compression are varied,” Cipolaro explained. These include: This narrowing gap indicates that investor enthusiasm is cooling, despite Bitcoin’s recent price…
Bitcoin’s largest holders, often referred to as whales, have offloaded more than 115,000 BTC worth $12.7 billion over the past month, marking the biggest wave of selling since mid-2022 and putting short-term pressure on BTC prices. Whale Reserves Drop Over 100,000 BTC According to data from CryptoQuant, whale reserves fell by 114,920 BTC in just 30 days, dragging Bitcoin below $108,000 at one point. Analysts describe the move as a sign of “intense risk aversion among large investors”, with short-term selling weighing heavily on market structure. “This trend of reducing exposure by major Bitcoin players continues to intensify,” a CryptoQuant…
Ethereum’s network revenue dropped by nearly half in August, raising questions about the blockchain’s economic fundamentals even as ETH reached a record price of $4,957 on August 24. Ethereum Revenue and Fees Decline According to Token Terminal data, Ethereum revenue fell 44% month-over-month, sliding from $25.6 million in July to just $14.1 million in August. This revenue represents the share of network fees that accrue to ETH holders through token burns. Network fees also declined by about 20%, dropping from $49.6 million in July to $39.7 million in August. The declines came despite ETH rallying more than 240% since April,…
The Kinto Network, an Ethereum layer-2 blockchain, announced it will wind down operations by September 30, sending its governance token Kinto (K) crashing more than 81% in a single day. Hack and Financial Struggles Force Shutdown Kinto was hit by a $1.6 million exploit in July, when attackers drained 577 ETH through a vulnerability in the ERC-1967 Proxy standard, a codebase widely used to upgrade smart contracts. While the project initially raised $1 million in debt to relaunch its modular exchange, worsening market conditions and failed fundraising left the team with no path forward. “Every day that we go on,…
