Kategorie: Ethereum News

Ethereum news about the ETH blockchain and its crypto ecosystem.

Veröffentlicht am

Whale loses over $106 million as Ethereum price crashes

  • Whale loses $106M in Ethereum (ETH) liquidation on Sky due to a 14% price drop.
  • Crypto market sees $1.36B in liquidations, affecting 441,856 traders.
  • Trump’s tariffs and economic uncertainty drive market sell-offs.

An Ethereum whale on the decentralized finance (DeFi) lending platform Sky, formerly Maker, has been liquidated following the crash of the price of Ethereum (ETH).

This whale lost 67,570 ETH, valued at approximately $106 million, following the sharp decline in ETH’s market price as the crypto market melts down following President Donald Trump’s ‘Liberation Day’ tariffs.

The Ethereum whale lost 67,570 ETH to liquidation

The whale’s downfall came as ETH’s price plunged 14% on April 6, dragging the collateral ratio of their position down to 144%.

Unable to maintain the necessary buffer, Sky liquidated the entire 67,570 ETH stash, wiping out over $106 million in value.

Notably, Sky operates as a DeFi lending platform where users can deposit cryptocurrency like ETH as collateral to borrow DAI, a stablecoin pegged to the US dollar.

To mitigate the risks posed by crypto’s volatility, Sky enforces an overcollateralization requirement. This means borrowers must lock up significantly more value in ETH than the DAI they borrow.

When collateral values dip below this threshold, the system triggers liquidation, seizing the assets to repay the loan.

The whale’s liquidation is not an isolated event but part of a seismic shift rattling the cryptocurrency landscape.

Over the past 24 hours, the crypto market has seen 441,856 traders liquidated, with the total liquidations coming to $1.36 billion, according to Coinglass.

The liquidations come as cryptocurrency heavyweights like Bitcoin (BTC), Ethereum (ETH), XRP, Solana (SOL), and Dogecoin (DOGE) reel from double-digit losses.

Bitcoin, for example, has slipped below $75,000, a steep fall from its recent peak near $90,000, signaling widespread distress across the sector.

With the sharp BTC price drop, a wrapped Bitcoin whale has been liquidated four times, losing over $19 million in less than 50 days.

Another major player, holding 56,995 wrapped ETH worth roughly $91 million, teeters on the edge of liquidation on Sky.

Trump’s tariffs cause market turmoil

The current crypto market downturn comes as Donald Trump’s “Liberation Day” and threats of global retaliatory tariffs stoke economic unease.

The tariffs have triggered a sell-off in traditional stock markets, spilling over into crypto as investors flee riskier assets.

The mounting fear of a looming financial crisis has only deepened the gloom enveloping digital currencies.

Analysts are scrambling to map out what lies ahead, with Charlie Sherry of BTC Markets pointing out that Bitcoin has lost its $79,000-$80,000 support zone, leaving $72,000—the pre-election high—as the next critical floor.

Geoffrey Kendrick from Standard Chartered cautions that Sunday’s crypto tremors could foreshadow a rough Monday for stocks, hinting at deeper interconnections between markets.

However, glimmers of hope persist, with Sherry positing that a reversal in Trump’s policy stance or an emergency move by the Federal Reserve, such as slashing interest rates, might buoy the market.

Recently, traders ramped up bets on Fed intervention to avert a US recession, a step that could pump liquidity into the system and offer crypto a lifeline.

As the crypto world braces for what’s next, caution remains the watchword for those navigating this turbulent terrain.

The post Whale loses over $106 million as Ethereum price crashes appeared first on CoinJournal.

Veröffentlicht am

Investors shifting focus to PepeX as Ethereum (ETH) consolidates below $2k

  • Ethereum (ETH) consolidates below $2k, testing a 5-year trendline.
  • PepeX emerges as a fairer investment alternative with its upcoming presale and AI-powered meme coin launchpad.
  • Investors are shifting their focus to the upcoming PepeX presale amid Ethereum uncertainty.

As Ethereum (ETH) lingers in a precarious consolidation phase below the $2,000 mark, investors are increasingly turning their attention to alternative opportunities in the crypto space.

The broader market remains jittery, plagued by macroeconomic uncertainty, trade war fears, and erratic US policy decisions under President Trump. However, amid this turbulence, a new contender, PepeX, is emerging as a beacon for those seeking fresh prospects.

Billed as the world’s first AI-powered meme coin launchpad, PepeX promises a fairer alternative, drawing in degens and retail investors alike with its innovative approach and upcoming presale set to kick off on March 24, 2025.

Ethereum (ETH) faces a critical juncture

Ethereum’s current struggles are palpable as it trades in a tight range between $1,800 and $1,900, unable to reclaim the psychologically significant $2,000 level.

Analysts, including the prominent Mister Crypto, have pointed to a 5-year-long trendline that ETH is now testing— a historical support that has weathered major corrections in the past. This level is make-or-break for the second-largest cryptocurrency.

Should the level hold firm, a bullish reversal could propel Ethereum (ETH) back above $2,000, igniting hopes of a rally toward $2,300, where the 4-hour 200 moving average awaits as a key resistance.

However, the bears are unrelenting, and a failure to defend this trendline could see ETH slide toward lower demand zones around $1,600-$1,700.

The broader economic backdrop isn’t helping Ethereum’s case. Rising trade tensions, inflation concerns, and regulatory ambiguity in the US have left risk assets, including crypto, in a state of flux.

Bulls have lost their grip, and the prolonged consolidation has traders on edge, uncertain whether the next move will be a breakout or a breakdown.

For now, ETH remains at a crossroads, with its fate hinging on how it reacts to this multi-year support over the coming days and weeks.

This uncertainty has pushed some investors to diversify, seeking opportunities that offer more immediate promise and less exposure to Ethereum’s volatility.

PepeX offers a new frontier for crypto investors

As Ethereum struggles to gain its footing, PepeX is capturing the imagination of the crypto community with its bold mission to democratize meme coin creation with its PepeX.fun memecoin launchpad.

Unlike Pump.fun, which has been criticized for favouring insiders and leaving only 0.4% of traders with gains exceeding $10k, PepeX aims to level the playing field. Its AI-driven launchpad allows anyone to create a token in minutes—upload an image, pick a ticker, and let the AI handle the rest, from generating viral memes to deploying anti-snipe smart contracts.

With a $500 entry fee for creators, PepeX weeds out low-effort projects, ensuring a higher quality of meme coins while still keeping the process accessible to the masses.

What sets PepeX apart is its commitment to fairness and transparency. Founders are capped at a 5% token allocation, with their liquidity locked and redistributed to the community if a project flops—a stark contrast to the exit liquidity schemes that have plagued other platforms.

Additionally, the AI-powered marketing bots further amplify its appeal, autonomously shilling tokens on Telegram and X to supercharge growth.

With Pump.fun raking in nearly $400M in fees last year, PepeX positions itself as the next big wave, offering token holders a chance to ride a rising tide of value as more projects join the ecosystem.

As Ethereum stalls, investors are positioning themselves for the PepeX’s presale which opens in the next five days, drawn by its narrative of vengeance against the old guard and its promise of a fairer, more profitable meme coin meta.

For degens and retail crypto investors, PepeX offers a tantalizing blend of innovation, accountability, and opportunity, making it a compelling alternative as Ethereum (ETH) battles to find its footing.

The post Investors shifting focus to PepeX as Ethereum (ETH) consolidates below $2k appeared first on CoinJournal.

Veröffentlicht am

Bitcoin drops to $76k after Trump fails to rule out a recession

  • Ether dropped 9%, XRP fell 2%, and Dogecoin lost over 8% in 24 hours
  • Investors react to Trump’s comments about a possible recession
  • The US stock market lost more than $1.7 trillion in value

Crypto prices have fallen across the board, with Bitcoin dropping below $77,000 as investors continued to react to US President Donald Trump’s tariff policies and the Bitcoin reserve plan.

Bitcoin’s price at $76,000. Source: CoinMarketCap

In the early hours of Tuesday, March 11, Bitcoin fell to $76,000, a figure not seen since last September. In a post on X, crypto trader Ali said:

“If #Bitcoin $BTC holds $80,000, the bull case remains strong. Losing this level, however, could put $69,000 in play as the next key support!”

Bitcoin has risen slightly and is back up around $81,600 at the time of publishing, according to CoinMarketCap. Ether, on the other hand, was down over 9% in 24 hours to $1,920, XRP had fallen more than 2%, at $2.13, and Dogecoin was down over 8.81% to $0.1607.

The market reacts

News of the continued market sell-off comes as investors react to Trump’s trade tariffs, the announcement of the US Strategic Bitcoin Reserve, and the possibility of a recession.

Following Trump’s remarks, the US stock market lost more than $1.7 trillion in value yesterday. Elon Musk’s Tesla saw its shares drop by at least 15% to $222, losing over half its value from its December peak at $479.86. In a post on X, Musk said: “it will be fine long-term.”

Market conditions haven’t been helped by Trump’s trade tariffs on Canada, China, and Mexico. Last month, it was confirmed that Trump was imposing a 25% trade tariff on Canada and Mexico; however, this has been delayed until April 2. China had a 20% tariff levied against it.

BitMEX co-founder Arthur Hayes took to X to ask people to be “patient.”

“$BTC likely bottoms around $70k. 36% correction from $110k ATH, v normal for a bull market,” adding:

“Traders will try to buy the dip, if you are more risk averse wait for the central banks to ease then deploy more capital. You might not catch the bottom but you also won’t have to mentally suffer through a long period of sideways and potential unrealised losses.”

The post Bitcoin drops to $76k after Trump fails to rule out a recession appeared first on CoinJournal.

Veröffentlicht am

BBVA gets nod to offer Bitcoin and Ethereum trading services in Spain

  • BBVA customers in Spain will soon be able to trade Bitcoin (BTC) and Ethereum (ETH)
  • The bank will roll out the crypto trading services in phases
  • First, the bank will allow a select group of customers to test the services before expanding it to retail customers

Spain’s Banco Bilbao Vizcaya Argentaria (BBVA), the country’s second-largest bank, has received regulatory approval from the Comisión Nacional del Mercado de Valores (CNMV) to offer Bitcoin (BTC) and Ethereum (ETH) trading services.

Following the approval by the securities regulator, BBVA announced that its clients will soon be able to buy, sell, and manage BTC and ETH directly through its mobile banking app, a move that underscores the growing convergence of legacy banking and digital assets.

This development positions BBVA as a trailblazer among European banks, capitalizing on the increasing demand for crypto-related services. With Bitcoin (BTC) trading at approximately $82,808 and Ethereum (ETH) at $2,118, the bank aims to tap into a market that has seen explosive growth and institutional interest.

Notably, BBVA’s decision reflects a broader trend of traditional financial institutions adapting to the evolving preferences of tech-savvy customers, many of whom view cryptocurrencies as both an investment opportunity and a hedge against economic uncertainty.

A phased rollout approach

BBVA will roll out its crypto trading in phases. Initially, the service will be available to a select group of users, allowing the bank to test and refine its platform before a wider rollout.

Afterwards, the lender will gradually expand access to all private banking customers across Spain.

This cautious yet deliberate strategy highlights BBVA’s commitment to ensuring a seamless and secure experience for its clients, leveraging its own cryptographic key custody platform to maintain full control over digital asset holdings without relying on third-party providers.

The bank’s proprietary custody solution is a key differentiator. By keeping customer assets in-house, BBVA aims to enhance security and trust—crucial factors in a sector often plagued by concerns over hacks and mismanagement.

This move also aligns with the bank’s long-standing emphasis on technological innovation, positioning it as a leader in the digital transformation of finance.

Building on the rising crypto adoption trends

BBVA’s crypto journey is not a sudden leap, but a calculated expansion of efforts that began years ago. In June 2021, the bank launched Bitcoin custody and trading services for private banking clients in Switzerland, where regulatory clarity provided an early foothold.

Since then, BBVA’s Swiss branch has broadened its offerings to include ETH and the USDC stablecoin after partnering with Ripple’s Metaco, catering to a sophisticated clientele comfortable with digital assets.

More recently, in January 2025, BBVA’s Turkish subsidiary, Garanti BBVA Kripto, introduced crypto trading services to the public, further solidifying the bank’s global footprint in this space.

The approval in Spain builds on these successes, adapting lessons learned from Switzerland and Turkey to meet the unique needs of the Spanish market.

With each step, BBVA is demonstrating a strategic vision to integrate cryptocurrencies into its core offerings, aligning with shifting regulatory and consumer landscapes.

Notably, the timing of BBVA’s Spanish rollout coincides with the full implementation of the European Union’s Markets in Crypto-Assets Regulation (MiCA), which took effect at the end of 2024. MiCA establishes a harmonized framework for crypto services across the EU, providing banks and firms with the legal clarity needed to operate confidently.

Under this regulation, companies have until July 2026 to achieve full compliance during an 18-month transitional phase, giving BBVA ample time to refine its operations.

The post BBVA gets nod to offer Bitcoin and Ethereum trading services in Spain appeared first on CoinJournal.

Veröffentlicht am

Bybit CEO confirms that $280M of the stolen $1.4B is no longer traceable

  • Bybit CEO has said that 20% of the $1.4 billion stolen from the exchange is untraceable
  • Hackers converted $1 billion in ETH to BTC via THORChain and spread it
  • So far, 11 bounty hunters have assisted in freezing $42 million of the stolen funds

In a stunning update, Bybit CEO Ben Zhou has revealed that $280 million of the $1.4 billion stolen from the cryptocurrency exchange in the February hack has vanished into untraceable channels.

The security breach, attributed to the North Korean hacking group Lazarus, saw approximately 500,000 Ether (ETH) pilfered from Bybit’s reserves. While the majority of the funds remains visible on the blockchain, Zhou’s announcement underscores the challenges facing investigators as they race against time to freeze the assets before the hackers fully cash out.

The attack exploited vulnerabilities in SafeWallet, a third-party wallet platform used by Bybit. Lazarus hackers compromised a developer’s device, injecting malicious code that allowed them to siphon off nearly $1.5 billion in ETH during a routine transfer.

Despite Bybit’s swift action to restore 1:1 backing of client assets within days, the hackers have been relentlessly moving the stolen funds across multiple platforms, complicating recovery efforts.

Hackers leveraged THORChain to fragment funds

A significant portion of the stolen Ether—417,348 ETH valued at around $1 billion—has been converted into Bitcoin (BTC) and scattered across 6,954 wallets, each holding an average of 1.71 BTC.

Zhou noted that 72% of the haul, or 361,255 ETH worth $900 million, was funneled through THORChain, a decentralized exchange known for its privacy features.

THORChain alone processed a record $4.66 billion in swaps in the week ending March 2, raking in over $5.5 million in fees from these illicit transactions. This fragmentation and conversion strategy has made tracking the funds increasingly difficult for blockchain forensic teams.

Meanwhile, 20% of the stolen assets—approximately 79,655 ETH—have “gone dark,” meaning they’ve been laundered through platforms like ExCH and rendered untraceable.

Zhou highlighted that an additional 40,233 ETH, worth $100 million, passed through OKX’s Web3 Proxy. Of this, 23,553 ETH ($65 million) remains untraceable without further cooperation from the OKX Wallet team, while 16,680 ETH is still within reach of investigators.

The CEO stressed that the next one to two weeks are pivotal as the hackers prepare to offload their haul via exchanges, over-the-counter (OTC) trading desks, and peer-to-peer (P2P) networks.

Bybit has enlisted bounty hunters amid freezing efforts

In a bid to thwart the hackers, Bybit has enlisted the help of bounty hunters and security firms.

Zhou reported that 11 parties—including prominent players like Mantle, Paraswap, and blockchain sleuth ZachXBT—have assisted in freezing $42 million, or 3% of the stolen funds.

So far, Bybit has paid out $2.178 million in USDT to these contributors as part of its recovery efforts, with more details available at Lazarusbounty.com. The exchange also partnered with Web3 security firm ZeroShadow on February 25 to enhance its blockchain forensics and maximize asset recovery.

Despite these efforts, the hackers show no signs of slowing down. Blockchain analytics firm Elliptic has identified over 11,000 wallets linked to the Lazarus group, suggesting a sprawling network designed to obscure their tracks.

Zhou indicated that an additional $65 million in ETH could be salvaged with OKX’s support, but time is running out as the attackers continue laundering operations through platforms like ExCH and OKX Web3 Proxy.

The post Bybit CEO confirms that $280M of the stolen $1.4B is no longer traceable appeared first on CoinJournal.