The post Federal Reserve Eases Crypto Rules for U.S. Banks appeared first on Coinpedia Fintech News The U.S. Federal Reserve has officially rolled back key rules that once restricted how banks engage with cryptocurrencies and dollar-backed tokens. The move marks a significant step toward easing regulatory pressure and signals growing openness to digital asset innovation within the U.S. banking system. Why Is the Federal Reserve Pulling Back Its Crypto Rules? The Fed has withdrawn its 2022 guidance that required state-chartered banks to notify the Board before offering crypto-related services. Under the new direction, banks no longer need to send advance notices. Instead, the Fed will oversee crypto activities through its usual supervisory processes—just like any other banking service. Stablecoin Restrictions Loosened The central bank also rescinded its 2023 nonobjection letter process for banks planning to engage in dollar token activities, such as issuing or dealing in stablecoins. This means banks can now move forward with such projects without having to wait for formal approval, removing one more layer of regulatory red tape. The Federal Reserve, alongside the Federal Deposit Insurance Corporation (FDIC), has also pulled back from two joint statements issued last year with the Office of the Comptroller of the Currency (OCC). These joint memos had set cautious expectations around crypto involvement for banks. Their removal signals a coordinated shift toward more relaxed oversight across U.S. regulators. What Does the Federal Reserve’s Shift Mean for the Future of Crypto in Banking? While oversight won’t disappear completely, the tone has clearly changed. The Fed stated that it will continue to work with other agencies to explore new rules that better support innovation while keeping the banking sector safe and sound. Vandell Aljarrah, co-founder of Black Swan Capitalist, called out the irony in the timing of the Fed’s move. Just days after being dismissed for his pro-crypto stance, the central bank reversed its position—removing the same policies he had spoken against. “It’s validating to see the Fed now encouraging the very innovation they once blocked,” he said. This change may open the door for banks to step more confidently into the crypto space—especially in the growing world of dollar tokens and stablecoins. Whether this marks the start of a broader shift in U.S. crypto regulation remains to be seen, but the door is certainly opening wider. Is This the Start of a New Era for Crypto in U.S. Banking? The Federal Reserve’s rollback of crypto guidance marks a shift from caution to cautious openness. By removing approval hurdles, it signals support for innovation and aligns with FDIC and OCC moves—making crypto more accessible for U.S. banks. Is the Federal Reserve Now Supporting Stablecoins? Not directly—but the signs point in that direction. By removing the requirement for banks to seek formal nonobjection letters before engaging in dollar token activities, the Federal Reserve has eased the path for stablecoin involvement. While it hasn’t officially endorsed stablecoins, this policy shift shows a more open attitude toward their use in the banking system. What Does New FED’s Crypto Rules Mean for Banks Looking to Enter the Crypto Space? It means fewer barriers and more flexibility. Banks no longer need to go through extra approval processes to offer crypto or stablecoin services. With the Federal Reserve shifting to standard supervision, banks can now explore crypto opportunities more confidently and at a faster pace—without waiting for special permissions.
In the unexpected turn of events of market behavior, the long-term holders of Ethereum —who rarely move their coins—have stirred. On-chain data shows that over 640,000 ETH has recently been moved into wallets that have no history of selling. This is the biggest inflow—into wallets without a history of selling—since 2018 and marks what may be a pivotal moment for Ethereum’s price. #Ethereum silent whales are back! 640,000+ $ETH just moved into wallets that have NEVER SOLD — the biggest inflow since 2018. They know something the market doesn’t. pic.twitter.com/ekPIjAk8qf — Crypto Patel (@CryptoPatel) April 24, 2025 Although this development hasn’t made much of a splash in the news, it’s really quite significant. When these long-term holders (aka “strong hands”) start accumulating en masse, it’s usually a precursor to some kind of market movement. And the type of recent accumulation we’re seeing certainly doesn’t seem like just a bunch of informed folks in the know getting together to have a virtual meet-up. At current prices, the transferred ETH is worth more than $2 billion—not an insignificant “not quite $2.1 billion” confidence expression in Ethereum’s future. Movement of that amount is historically quite bullish—it almost always has been. Not just too, since some movement of large amounts has happened in the short past. Network Activity Surges Amid Technical Breakout Setup A fire of speculation has been fed by a recent increase in the network activity of Ethereum. Over the past 48 hours, the active addresses of ETH have increased by 10%, showing a clear uptick in engagement from users of the network. These kinds of spikes in address activity typically occur when there is intense buying interest in the asset and when investors are repositioning themselves in the market. $ETH active addresses surged 10%. In just 48 hours. Epic Ethereum revenge rally loading? pic.twitter.com/S89a9gs0kj — Ted (@TedPillows) April 24, 2025 Ethereum, from a predictions point of view, is currently forming a colossal bull flag on the monthly timeframe—a bullish continuation pattern that usually resolves to the upside. Price action has consolidated within the flag for several months and is now testing the channel’s lower boundary. This zone is under close observation by technical analysts for a possible breakout. If Ethereum can push past the upper flag resistance, the target price some are projecting is as high as $8,000. That would not only represent a doubling from current price levels but would also likely trigger a revival in altcoins, with Ethereum very much at the head of that charge. $ETH Macro Bull Flag Opportunity : #Ethereum is forming a massive bull flag pattern on the monthly time-frame. Price is right now sitting on the channel's lower band. Breakout Target : 8,000$ pic.twitter.com/7AdgSqkKvQ — Bitcoinsensus (@Bitcoinsensus) April 24, 2025 This bullish technical setup is combined with heightened address activity and with large whale movements, creating a trifecta of positive indicators for Ethereum bulls. ETF Outflows Raise Eyebrows, But Grayscale Breaks the Trend Not all signals are clearly positive, though. On April 23rd (ET), spot Ethereum ETFs overall saw a not inflow of $23.88 million—notable in the context of an otherwise bullish story. The Grayscale Ethereum Trust (ETHE) was the only major ETF to go against this grain, seeing a positive not that day. But the ETHE is not a spot ETF. So what’s the story here? Investor rotation or short-term profit-taking could be the reasons for the recent outflows. Yet Grayscale’s inflows suggest that some institutions remain unfazed. Why, then, is there a divergence? One possible answer is that institutions are not yet willing to bet big on Ethereum but do appear to be kind of sort of betting on it. In terms of Ethereum-focused hedge funds, these still appear to be much more sensitive to regulation than funds betting on Bitcoin. More regulated, more secure seems to be the attitude of crypto hedge funds. On April 23 (ET), spot Bitcoin ETFs recorded a total net inflow of $917 million, marking four consecutive days of net inflows. In contrast, spot Ethereum ETFs saw a total net outflow of $23.88 million, with only the Grayscale ETF (ETH) registering a net inflow.… — Wu Blockchain (@WuBlockchain) April 24, 2025 Even so, the swift outflow serves as a reminder that market sentiment can be highly divergent. While some investors seem to be pulling back, others—mostly the big holders—are going all in. Epic “Revenge Rally” Incoming? All of a sudden, long-dormant wallets are waking up. On-chain activity is shooting through the roof. And the technical structure on the monthly chart for Ethereum is looking incredibly bullish. Of course, this is giving rise to all kinds of fresh speculation, with some folks even hinting that an “epic revenge rally” could be in the cards for ETH. The term has begun to appear among crypto traders who consider Ethereum to be undervalued when compared to Bitcoin’s recent surge in recognition and value. While Bitcoin has been the clear leader in the rally thus far in 2025, many believe that Ethereum is set to enjoy its own moment of triumph—and that moment might be any day now. In a market where stories can change in the blink of an eye, Ethereum’s secretive whales may be moving with the kind of preemptive strike confidence reserved for folks in the know. If their previous actions are any guide, the latest steps they’ve taken are sending a strong message beneath their usual quiet surface. For the broader ETH trading community, that message seems to be crystalizing: something’s cooking. Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services. Follow us on Twitter @nulltxnews to stay updated with the latest Crypto, NFT, AI, Cybersecurity, Distributed Computing, and Metaverse news !
Bitcoin whales—those holding over 10,000 BTC—have remade themselves as dominant market players, returning to deliver a powerful show of confidence in a resurgent crypto rally. Blockchain analytics indicate that these large holders are now in nearly flawless accumulation mode, with a score that hovers around 0.9. This metric suggests they are actively adding to their positions and not engaging in distribution, a historically bullish signal associated with a move in Bitcoin’s price to the upside. Just behind the whales are wallets containing between 1,000 and 10,000 BTC that also show strong accumulation behavior with a reading around 0.7. Even the next tier down, mid-sized wallets—those holding between 100 and 1,000 BTC—are now predominantly in accumulation mode, posting a score of around 0.5. All together, these trends indicate that accumulation is a broad-based phenomenon across several tiers of Bitcoin investors. #Bitcoin Whales are back in full force: Holders of >10K $BTC are showing near-perfect accumulation (~0.9) 1K–10K $BTC wallets follow closely (~0.7) 100–1K $BTC are also pivoting to accumulation (~0.5). So far, large players have been buying into this rally. pic.twitter.com/foKkBmMwOX — glassnode (@glassnode) April 24, 2025 Fewer Coins on Exchanges Signals Reduced Selling Pressure The positive outlook is further reinforced by a large drop in the number of addresses sending Bitcoin to exchanges. This is a critical metric because it often correlates with investors’ intent to sell or trade their holdings. As of April 2025, the 30-day moving average of depositing addresses has fallen to just 52,000. By contrast, the 365-day average is 71,000, and we can’t emphasize enough how sharp this drop is when looking at the 10-year average distribution peak of approximately 92,000 . The number of addresses depositing bitcoins to exchanges has been steadily declining since 2022: the 30-day moving average has now dropped to 52K addresses compared to the 365-day level of 71K. Meanwhile, over the past 10 years, the most common distribution was around 92K… pic.twitter.com/sBAKWS9Jlb — Axel Adler Jr (@AxelAdlerJr) April 24, 2025 The most recent time the quantity of depositing addresses was this low was back in December 2016—right prior to the legendary 2017 bull run that soared Bitcoin to then-all-time-high figures. This present downturn suggests a not-yet-extinguished investor cohort with a long-term mindset; they appear, in recent trend, to be hoarding their assets much more than selling them off, as even short-term trades seem to be staying in the hands of the Bitcoin mainstay. This, then, paints a picture of Bitcoin as potentially more resilient in the face of economic headwinds. This carries significant implications for monetary policy. The Federal Reserve has a limited number of tools to employ when it comes to stimulating the economy or cooling it down. One of the most important is interest rates. When the Fed raises or lowers the federal funds rate, it sets off a chain reaction throughout the economy—the rates that various banks charge their customers go up or down, as does the price of money in general. At these moments, the fed funds rate is effectively the price tag on monetary policy. Institutional Interest Surges Through Spot ETFs What is making Bitcoin such a sure thing these days? For one, it’s back in favor among the deep-pocketed pros. Last week, during a stretch that saw Bitcoin price gains, we learned that several Wall Street houses had been buying actual Bitcoin, not just Bitcoin derivatives. Moreover, they had been doing this well before the last price pop. What is especially significant about the constant inflows into spot ETFs is that they involve real Bitcoins actually being bought on behalf of the investors. In contrast, products based on futures merely follow the price changes. The purchase of actual Bitcoins by spot ETF trustees affects the supply-demand situation in the market, and in my opinion, it affects that situation in only one way: for the price of Bitcoin to go higher. On April 23 (ET), spot Bitcoin ETFs recorded a total net inflow of $917 million, marking four consecutive days of net inflows. In contrast, spot Ethereum ETFs saw a total net outflow of $23.88 million, with only the Grayscale ETF (ETH) registering a net inflow.… — Wu Blockchain (@WuBlockchain) April 24, 2025 The trustees of these ETFs, after all, must put the Bitcoins into storage that is secure enough to satisfy institutional investors, and that means custodial storage. When a product that is this secure and this legit holds an asset, what right does the price have to fall? Over the past few months, the picture of Bitcoin seems to be brightening, and the old skepticism is now giving way to something akin to strategic accumulation. Here are the macro conditions that have us thinking this way: inflation isn’t going anywhere; indeed, some of the latest data have us characterizing the episode as “stagflation lite.” Accumulation is evidenced by clear on-chain signals, an exchanges deposit balance that is at a multi-year low, and institutional interest in the form of surging ETFs. Together, these factors indicate that Bitcoin could very well be in the early stages of another significant market phase—one that, according to history, has often led to a major bull cycle. The present trends provide another reminder of how markets can be influenced by external factors. But the appearance of powerful oligo- and monopolies in our recent history suggests that we should also pay attention to what these powerful players are doing exogenously. And the news here is that they are buying, even as they appear to be front-running a regulatory and/or enforcement response to the problems they have created. Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services. Follow us on Twitter @nulltxnews to stay updated with the latest Crypto, NFT, AI, Cybersecurity, Distributed Computing, and Metaverse news !
Solana (SOL) has had an impressive week, experiencing a remarkable rebound and solidifying its position as one of the strongest performers in the crypto market. After dipping below $100 earlier this year, SOL has surged to $140—a 6% increase this week. This comeback coincides with the network enjoying robust growth across some key metrics, especially in decentralized finance (DeFi) and meme tokens. With a market cap of $72.15 billion, Solana yet again is making headlines, seemingly leaving behind other top-tier cryptos like Bitcoin (BTC) and Ethereum (ETH). A Surge in Activity and Institutional Interest Not just its price performance but also its key network metrics reflect Solana’s resurgence. The Total Value Locked (TVL) on Solana has jumped a staggering 28%, hitting $8.9 billion. This growth suggests that Solana’s DeFi ecosystem is not just alive but also thriving, with way more capital deployed across its dApps. And why not? For traders and developers, Solana is a special network in the sense that its ability to scale efficiently allows for high-speed and low-cost transactions, which are really the essentials of the DeFi ecosystem. There is an active address increase too, a vital sign for any blockchain ecosystem. At the close of Q3, Solana had 4.5 million active addresses. That was up 12.5 percent from the previous quarter. In other words, a growing user base is trading and providing liquidity on Solana’s decentralized exchange. Solana stands as one of the prime performers in the crypto market. When we look at the performance of its immediate rivals, Bitcoin has barely managed to gain 3% over the past week; Ethereum has remained locked in a seemingly interminable range; XRP has plummeted; and yet, Solana has done this: Institutional Adoption and Financial Growth Interest from institutions in Solana has skyrocketed, with large entities like ARK Invest making serious moves. ARK Invest added the 3iQ Solana Staking ETF to its ARKW and ARKF funds, a sign that institutional confidence in the network is growing. Inclusion of Solana in these funds is just another marker in the increasingly lined path of that network to being treated as a legitimate investment asset. Its staking capabilities might be offering higher returns than a lot of things. Along with ARK Invest, Upexi, a tech and e-commerce firm, has expressed plans to build a Solana treasury. Backed by global trading firm GSR, Upexi hopes to construct a $100 million treasury on the Solana blockchain. Stocks surged 600% following this announcement, and people took notice. Upexi, a small e-commerce and tech company, was attempting to do something not many e-commerce and tech companies had tried: issuing a treasury on a blockchain in a major way. When it comes to the amount of value in tokens that are currently being staked, Solana has now, for the first time ever, surpassed Ethereum and is sitting at a staked amount of $54 billion. Performance Metrics and Ecosystem Growth Solana has done even better than Ethereum in bringing in revenue for the first quarter of 2025. Solana brought in $369.5 million in Q1, easily surpassing Ethereum’s $220.8 million and representing a 163% year-over-year increase. The network seems able to scale and bring in substantial revenue, which is necessary for funding ecosystem development. This call-to-arms developer effort seems to be bearing fruit, as it has attracted investment. Why this matters isn’t immediately obvious, but funding development of the ecosystem is crucial. Week in Solana: DeFi TVL and Meme Coins Soar as SOL Hits $140.. $120M bridged to network! SOL outearns ETH in Q1! ARK Invest adds staked SOL! Let's explore Solana's remarkable comeback 1/6 pic.twitter.com/1ddZuDQQxr — CoinMarketCap (@CoinMarketCap) April 23, 2025 One of the metrics that really sets Solana apart is its daily application revenue, which has reached a spectacular $5 million, easily eclipsing Ethereum’s $1.07 million. This burgeoning revenue stream is a direct reflection of Solana’s ecosystem demand and, in particular, its deep penetration in the DeFi space. But it’s not just DeFi. Solana is increasingly popular with a wider variety of decentralized applications (dApps) of all kinds. Moreover, Solana has witnessed more than $120 million transferred to its network, with 35% of those funds stemming from Ethereum users. This transfer of assets denotes that Ethereum users are seeking to take advantage of Solana’s lower fees and to utilize its faster-timed transactions comped to transfers made directly on the Ethereum blockchain. Solana is surely becoming the platform of choice for these kinds of users. Meme Coins and Ecosystem Momentum Solana’s ecosystem is also benefiting from the rise of meme coins , which have become a strikingly visible part of the broader cryptocurrency market. Tokens like MOTHER (+37%), BOBAOPPA (+28%), and MYRO (+23%) have posted notable price increases on Solana, making them some of the hottest speculative assets on the network. And what do all those pumping prices for new Solana meme coins translate to? Much more on-chain activity and community engagement on the Solana network. So in a bull market where Solana is already one of the favored networks, you have a new layer of activity on top, courtesy of crypto’s most ridiculous tokens. The sector of decentralized physical infrastructure networks on Solana is becoming quite active, with Nosana (+28%) at the forefront. The DePIN projects, which are concerned with infrastructure that can exist independently of centralized entities, are growing in number and seem to offer another reason for the excitement surrounding the Solana ecosystem. When it comes to scalability and infrastructure, Coinbase has laid out plans to scale Solana’s infrastructure by five times. This proclamation, in and of itself, helps firmly establish Solana as a key player in the blockchain space. It states, in not so many words, that Solana needs to be a key player—in part, because every key player must have a solid infrastructure—if the network of decentralized applications built on Solana is to have a shot at decent odds in the sorts of banking and fintech uses for which they are intended. Solana’s Future Outlook Solana keeps surging in value and activity and clearly is one well-positioned blockchain network for the future. It has seen the adoption of big institutions, a skyrocketing total value locked, and a possible (and probable) ecosystem of DeFi applications, meme coins, and infrastructure projects. In all these ways and more, Solana remains a totally open and public network, with the ability to outperform some other top cryptocurrencies in key metrics. Those metrics include revenue generation, transaction volume, and the apparent interest of big entities in actually using the network. Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services. Follow us on Twitter @nulltxnews to stay updated with the latest Crypto, NFT, AI, Cybersecurity, Distributed Computing, and Metaverse news !
Big news is brewing in Washington D.C. for the crypto world! The draft of the crypto market structure bill in the U.S. House of Representatives is reportedly nearing its final stages. This development signals a potentially significant step towards clearer US crypto regulation . According to sources cited by Blockworks, the House’s draft bill, which aims to establish a regulatory framework for digital assets, is expected to be released publicly later this month. This aligns with a stated goal by President Donald Trump to see both stablecoin legislation and this broader market structure bill passed by the end of summer. Why is a US Crypto Market Structure Bill Important? For years, the cryptocurrency industry in the United States has grappled with regulatory uncertainty. Different government agencies have asserted jurisdiction over various aspects of digital assets, leading to confusion and hindering innovation. A comprehensive digital asset regulation bill could provide much-needed clarity by: Defining what constitutes a cryptocurrency, a security, or a commodity. Specifying which regulatory body (like the SEC or CFTC) oversees different types of digital assets and activities. Establishing rules for exchanges, brokers, and other market participants. Providing guidelines for consumer protection and market integrity. Passing this crypto legislation is seen by many as essential for fostering growth and adoption within the U.S. while mitigating risks. What Could This US House Bill Include? While the final text remains under wraps, discussions around potential elements of the US House bill have circulated. Key areas likely addressed include: Agency Jurisdiction: A central debate revolves around whether the SEC or CFTC should primarily regulate the spot market for crypto assets deemed commodities. The bill might attempt to draw clear lines. Token Classification: Providing a framework or test for determining whether a digital asset is a security or not, potentially offering a path for tokens to transition from securities to commodities. Market Participant Rules: Requirements for crypto exchanges, custodians, and other intermediaries regarding registration, capital requirements, and customer asset segregation. Interagency Coordination: Mandating better cooperation between regulatory bodies to create a more unified approach to digital asset regulation . The fact that the crypto market structure bill is reaching its final draft stage suggests lawmakers are pushing forward to create a more defined landscape for digital assets. Challenges and Opportunities for US Crypto Regulation Creating effective US crypto regulation is complex. On one hand, the industry seeks rules that promote innovation and protect consumers without stifling growth. On the other, regulators aim to prevent fraud, ensure market stability, and maintain financial system integrity. Potential Opportunities: Increased institutional investment due to regulatory certainty. Greater clarity for businesses building on blockchain technology. Enhanced consumer confidence and protection. Potential Challenges: Risk of overly burdensome rules that push innovation offshore. Disagreements between political parties and agencies on the best approach. Ensuring the rules are flexible enough for a rapidly evolving technology. The final form of this crypto legislation will heavily influence these outcomes. What’s Next for the Crypto Market Structure Bill? With the draft reportedly in its final stages, the next step is its public release. This will be followed by committee markups, debates, and potential votes in the House. If it passes the House, it would then need to navigate the Senate, where similar but potentially different proposals exist. The path to becoming law is challenging and requires significant political will and compromise. The progress on this US House bill , coupled with efforts on stablecoin legislation, indicates a serious intent in Congress to address the regulatory void surrounding digital assets. Stakeholders across the crypto ecosystem are keenly watching, hoping this leads to a framework that supports a healthy and thriving digital economy in the U.S. Conclusion: A Step Towards Clarity The news that the crypto market structure bill draft is in its final stages is a significant development for the future of US crypto regulation . While challenges remain and the legislative process is long, this movement in the US House bill represents a concrete effort to bring clarity and structure to the digital asset space. The details within this upcoming crypto legislation will be critical, shaping everything from how digital assets are classified to how businesses operate and how consumers are protected. As the summer progresses, the crypto community will be watching closely to see if this push for digital asset regulation results in meaningful legislative action. To learn more about the latest crypto market trends and US crypto regulation developments, explore our articles on key developments shaping digital asset regulation and crypto legislation.
Ethereum price started a fresh surge above the $1,720 resistance. ETH is now correcting gains and might revisit the $1,700 support zone. Ethereum started a fresh rally above the $1,720 zone. The price is trading above $1,700 and the 100-hourly Simple Moving Average. There is a connecting bearish trend line forming with resistance at $1,780 on the hourly chart of ETH/USD (data feed via Kraken). The pair could start a fresh increase if it clears the $1,800 resistance zone. Ethereum Price Signals Downside Correction Ethereum price remained stable above the $1,680 level and started a fresh increase, like Bitcoin . ETH traded above the $1,720 and $1,750 levels. The bulls even pumped the price above the $1,800 level. A high was formed at $1,834 and the price recently started a downside correction. There was a move below the 23.6% Fib retracement level of the upward move from the $1,565 swing low to the $1,834 high. The price even dipped below the $1,780 level. There is also a connecting bearish trend line forming with resistance at $1,780 on the hourly chart of ETH/USD. Ethereum price is now trading above $1,720 and the 100-hourly Simple Moving Average. On the upside, the price seems to be facing hurdles near the $1,780 level and the trend line. The next key resistance is near the $1,800 level. The first major resistance is near the $1,840 level. A clear move above the $1,840 resistance might send the price toward the $1,920 resistance . An upside break above the $1,920 resistance might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $1,950 resistance zone or even $2,000 in the near term. Are Dips Limited In ETH? If Ethereum fails to clear the $1,780 resistance, it could start a fresh decline. Initial support on the downside is near the $1,725 level. The first major support sits near the $1,700 zone and the 50% Fib retracement level of the upward move from the $1,565 swing low to the $1,834 high. A clear move below the $1,700 support might push the price toward the $1,650 support. Any more losses might send the price toward the $1,620 support level in the near term. The next key support sits at $1,550. Technical Indicators Hourly MACD – The MACD for ETH/USD is losing momentum in the bullish zone. Hourly RSI – The RSI for ETH/USD is now below the 50 zone. Major Support Level – $1,700 Major Resistance Level – $1,800
Binance Futures is set to implement modifications to the ALPACAUSDT U Perpetual Contract, effective April 25, 2025, at 14:00 (UTC+8). This important update will enhance the leverage and margin tiers
Binance Announces Delisting of Four Tokens: ALPACA, PDA, WING, and VIB 💰Coin: ALPACA ( $ALPACA ) $0.07792 PDA ( $PDA ) (None)
A major security failure has rocked the Ethereum network. The $OXYZ token, part of the Oxya Origin project, has been targeted by a hacker who compromised the project’s deployer wallet. In an apparent coordinated attack, the bad actor was able to mint billions of $OXYZ tokens, which have seen a rapid and dramatic decline in the price. Since the incident, $OXYZ value has decreased 86%, and the breach is now under intense scrutiny. The Incident: Attackers Mint Billions of $OXYZ Tokens The initial flag for the hack was from the Cyver Alert system. It detected an abnormal transaction pattern involving Oxya Origin on the Ethereum blockchain. The alert explained that the deployer wallet for Oxya Origin—which has admin control over the $OXYZ token—had been compromised. Because of this breach, the attacker was then able to transfer ownership of the token to some address that we can only assume was controlled by the attacker. Now, the attacker has minting rights over the $OXYZ token. From what seems to be a well-coordinated assault, the hacker minted an unbelievable 9 billion $OXYZ tokens, a move that crushed the market with an oversupply of the asset that was already just a few steps away from being deemed “toxic” by analysts. To convert those stolen tokens into something that could work as “money,” the attacker quickly carried out a series of swaps that netted them about $45,000 in more stable assets before doing an ostensibly more legal-seeming bridge to another blockchain using the Stargate protocol. Because of the minting and immediate liquidation of such a large number of tokens, the price of $OXYZ dropped nearly 86%, catching investors and traders off guard. After that, the hacker did not stop there. Minting the tokens was just the first step. The next move was to transfer the remaining 8.9 billion $OXYZ to a different address, and it looks like the hacker might be holding onto these funds for the time being. A Public Plea and Final Warning to the Attacker The Oxya Origin team has stated that a breach has occurred and has confirmed that it was compromised. The team is working to mitigate the damage and has put out a public statement asking that the funds taken during the breach be returned. The project’s leadership is offering the hacker a final opportunity to return the funds, with a very generous white-hat bounty incentive. If the funds are returned in full, the attacker is allowed to keep 10% of the amount stolen during the breach. The team offers a white-hat bounty with a clear condition attached—you must return 90% of the stolen funds immediately. They send the hacker a simple message: return the majority of the funds and walk away with a reward, or face the consequences of your actions. ALERT Our system has identified a suspicious transaction involving @OxyaOrigin on the #Ethereum network. Root Cause: The Oxya Origin deployer wallet appears to have been compromised, resulting in the ownership of the $OXYZ token being transferred to a suspicious address.… https://t.co/dlAmQtn5qM — Cyvers Alerts (@CyversAlerts) April 23, 2025 If the attacker does not comply, the Oxya Origin team has vowed to do all that’s necessary to track down the attacker’s identity and to recover the stolen funds. The means they’ll use include blockchain forensic experts, legal action in several jurisdictions, and reporting the incident to exchanges and authorities who can help serve the hacker with justice. Legal and Forensic Action on the Horizon Concerns have been raised about the security of smart contract deployer wallets and the broader ecosystem’s vulnerability to these kinds of attacks, thanks to a recent breach. The Oxya Origin team is now working with blockchain forensic experts to track the stolen assets and possibly identify the hacker based on the transactions made on the blockchain. The complexity of tracing the funds makes clear the severity of the attack and the motivation behind it. Legal teams are involved in several places because the hack affected various platforms, and they have had to work both together and separately to figure out where the stolen assets were moved. In the end, Oxya’s team pretended to embrace forgiveness while also allowing for the possibility of employing a legal recovery strategy that could leverage any number of laws covering hacking and fraud. Furthermore, the project is informing the pertinent exchanges and authorities about the incident. This is a crucial move to prevent the wrongdoer from covering up the theft or from using the pilfered crypto to trade assets via any crypto platforms. The whole thing amounts to a “serious” event with a “determined” undertaking to resolve it. The Future of Oxya Origin and $OXYZ The hack has had a major effect on the value of the $OXYZ token and on how confident investors feel about it. Yet even as the Oxya Origin project was geing hacked, the team was clearly working hard to solve the problem for their community. And when we look at this problem-solving in a positive light, the hacks may in fact be doing the team a favor: highlighting them, forcing them to work harder on guaranteeing the integrity of their platform. Still, the blow to the value of the $OXYZ token is more likely to take a while to heal, even with the promising prospect of the stolen funds being returned. The market’s confidence in the project seems largely tied to how effectively the team can manage the aftermath of the attack, restore control over the $OXYZ token, and, a big ‘if’ here, prevent future security breaches. Currently, the crypto community is watching Oxya Origin as the group strives to capture the hacker and get back the taken assets. The case’s end will almost certainly have permanent effects on how securely online (and decentralized) projects can operate—and on how swiftly and efficiently blockchain-based teams can respond to a major incursion. Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services. Follow us on Twitter @nulltxnews to stay updated with the latest Crypto, NFT, AI, Cybersecurity, Distributed Computing, and Metaverse news !
In spite of a broader unfavorable market, the Base network seems to have found a space of freedom in which it can grow and be adopted. Using its technical attributes (mostly stemming from being an Ethereum L2), Base appears to have a foothold in the market and has even captured a nice amount of market share since its launch last year. That is, if it has captured any market share, it is quite a lot for an L2 in an unfavorable market, and it is doing this while remaining somewhere near the top among not just L2s but new projects in the Ethereum ecosystem. IntoTheBlock’s data shows Base’s proportion of active addresses compared to other Layer-2 blockchain solutions. And they’re good numbers. Base now has 82.3% of its total active address count compared to the other Layer-2 solutions. And that count is up from 63% in October when the last clear read was available. Base itself has grown in total active addresses as well, and daily active addresses on Base rocket passed 1 million earlier this week. Moreover, Base’s daily activities have reached unprecedented levels, averaging over 4 million transactions per day. This is a visible and demonstrable sign that the infrastructure of Base is not only scalable but is smoothly and efficiently handling the growing amount of activity. These figures are not only an indication of how solid Base is but also how well it can scale and adapt to its ever-growing user base while powering decentralized applications (dApps), DeFi projects, and other blockchain-based innovations. A New Era of On-Chain Activity and Innovation Base is increasing in adoption because it is committed to innovation. Recently, it introduced Basenames, a new feature that has spurred on-chain activity and engagement, and is solidifying Base’s leadership position. Basenames is expected to create a new opportunity for users and developers on the network and is adding even more customization than before for decentralized applications. Basenames is the first feature of its kind in web3 and has the potential to open up entirely new branding and user experience opportunities across the decentralized web. Such features are important. And in a cutthroat competition among the countless Layer-2 contenders where Base is even a participant, the ability to mount features that engage users and drive new usage is a critical point of differentiation. Many Ethereum Layer-2 networks offer similar scalability and lower transaction costs. But when it comes to consistently delivering engaging new features, Base leaves the other Layer-2 solutions behind. These features provide new ways for developers to engage with the blockchain, which ultimately means that end users get enhanced experiences and better applications. For users, these upgrades to the Base blockchain mean increased functionality and modern usability. Combined together, these factors have led a number of users to convert to using Base. The Rise of Base’s Total Value Locked (TVL) Besides boasting an impressive active address count and daily transaction count, Base’s Total Value Locked (TVL) has soared past $6.3 billion, further accentuating the network’s burgeoning dominance in the Ethereum scaling ecosystem. TVL is a vital metric in the decentralized finance (DeFi) world as it amounts to the total assets that are staked or invested in DeFi protocols. The higher the TVL, the better in terms of trust, liquidity, and a healthy ecosystem. Activity on @base remains strong , even with market headwinds. According to @intotheblock , Base’s share of active addresses Among top L2s has jumped from 63% in January to 82% today. The network also passed 1 million daily active addresses, With daily transactions topping… pic.twitter.com/GlDue0Tlnf — Pinnacle Crypt ₿ (Enchanter-arc) (@PinnacleCrypt) April 23, 2025 Reaching a total value locked of more than $6.3 billion reflects growing trust in Base. The network’s DeFi capabilities are what attract liquidity from both retail and institutional investors. Base has become the go-to network for DeFi projects that mostly need two things: speed and low costs. Certainly, operating on Ethereum comes with certain scale challenges. But right now, Base seems one of the safest bets for trying to develop an efficient and effective Ethereum DeFi project. The increase in TVL doesn’t merely reflect the strength of the network but also highlights its increasing influence within the larger DeFi world. More and more, DeFi users are gravitating toward Layer 2 solutions as a way to experience engaging with the Ethereum network without the high gas fees and slow transaction speeds that the base layer has increasingly been suffering from. Base has filled that gap, serving as a Layer 2 solution that addresses Ethereum’s main problem of scalability. Base: The L2 Leader of Tomorrow Base is clearly positioned to lead the way among Ethereum Layer-2 solutions, as shown by its fast growth in several key metrics: – Active addresses: The number of unique addresses using the Base network has grown rapidly to over 1 million this month. – Transaction volume: The volume of transactions happening on Base has also increased. That’s largely a factor of all the new users who are starting to use the network, but the amount hasn’t slowed down either. – Total value locked: The volume and value of what’s being used on Base has also risen sharply. In fact, the over 5 million in value added on just this past Tuesday (March 7) might be a record amount for Layer-2 systems in a single day. Base’s rise represents a new chapter in the Ethereum ecosystem. L2 solutions such as Base are becoming vital in powering the next generation of decentralized applications and in giving the current generation a long-overdue performance boost. As users and developers rush to Base for its efficiency, scalability, and low costs, the network is poised to maintain its leadership position and to further its solidification in the future of blockchain infrastructure. With fresh on-chain activity driven by innovative features like Basenames and a going-star-up TVL, Base is undeniably leading the L2 space. Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services. 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