May 9, 2025

Explosive ETH, ADA, DOGE Moves Spur $800M in Short Liquidations, Highest Since 2023

Tags:ADA AI Binance bitcoin Crypto DOGE ETH solana Trading XRP

A recent surge in the crypto market, led by a 20% increase in ether (ETH), resulted in over $750 million in short liquidations within the past day. This marks the highest...

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May 8, 2025

Crypto

Dogecoin, Cardano’s ADA Lead Market Gains as Bitcoin Traders Eye Next Fed Meeting

Tags:ADA AI bitcoin btc Crypto DOGE Donald Trump ETH solana Tariffs Trump XRP

Bitcoin (BTC) approached $100,000 on Thursday, as major cryptocurrencies like dogecoin (DOGE) and Cardano’s ADA led gains in the crypto market. This surge was supported by dovish signals from the Federal...

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May 5, 2025

Crypto / Cryptocurrency / Review

Solana Quietly Fixes Bug That Could Have Let Attackers Mint and Steal Certain Tokens

Tags:AI Crypto ETH solana US

The Solana Foundation has revealed a security vulnerability in its privacy-focused token system that could have allowed attackers to create fraudulent zero-knowledge proofs, enabling unauthorized minting or withdrawals of tokens. The...

The Solana Foundation has revealed a security vulnerability in its privacy-focused token system that could have allowed attackers to create fraudulent zero-knowledge proofs, enabling unauthorized minting or withdrawals of tokens.

The vulnerability was reported on April 16 through Anza’s GitHub security advisory, along with a proof-of-concept. Engineers from Solana development teams Anza, Firedancer, and Jito confirmed the bug and immediately started working on a solution, as detailed in a post-mortem published on Saturday.

The issue originated from the ZK ElGamal Proof program, which validates zero-knowledge proofs (ZKPs) used in Solana’s Token-22 confidential transfers. These extension tokens secure private balances and transfers by encrypting amounts and using cryptographic proofs for validation.

ZKPs are a cryptographic technique that allows someone to prove knowledge or access to something, like a password or age, without disclosing the information itself. In cryptocurrency applications, they can demonstrate a transaction’s validity without revealing specific amounts or addresses, which can be exploited by malicious actors.

The bug occurred due to missing algebraic components in the hashing process during the Fiat-Shamir transformation, a method to make zero-knowledge proofs non-interactive. A sophisticated attacker could create invalid proofs that the on-chain verifier would accept.

This vulnerability could have enabled unauthorized actions such as unlimited token minting or withdrawals from other accounts. However, standard SPL tokens or the main Token-2022 program logic were unaffected.

Patches were privately distributed to validator operators starting on April 17, with a second patch released later that day to address another related issue in the code. Third-party security firms, including Asymmetric Research, Neodyme, and OtterSec, reviewed both patches. By April 18, a supermajority of validators had implemented the fix.

There is no evidence that the bug was exploited, and all funds remain secure, according to the post-mortem.

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May 2, 2025

Crypto / Exchange

Dogecoin, XRP ETF Hopes Are Fuelling Bullish Sentiment, Social Data Shows

Tags:AI bitcoin Crypto DOGE ETH memecoin solana US XRP

The excitement surrounding dogecoin (DOGE) and XRP-based exchange-traded funds (ETFs) is on the rise, as social data from Santiment indicates a shift in crowd sentiment in favor of both tokens. This...

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May 1, 2025

Crypto / Cryptocurrency / Review

Solana Surges 8% Despite Global Macro Tensions. Can It Hit $155 in Short-Term?

Tags:AI btc China Crypto solana Trading US

Geopolitical tensions and evolving trade policies are continuing to influence the cryptocurrency markets, with Solana standing out amidst global economic uncertainty. SOL has demonstrated remarkable recovery strength, rising 8% from its...

Geopolitical tensions and evolving trade policies are continuing to influence the cryptocurrency markets, with Solana standing out amidst global economic uncertainty. SOL has demonstrated remarkable recovery strength, rising 8% from its low of $140 on April 30 to around $152, alongside a 35% increase in daily trading volume. This resilience comes at a time when US-China trade relations are deteriorating, impacting both traditional and digital asset markets.

In the broader context, the CoinDesk 20 Index also saw a 4% increase on Thursday.

Key highlights from the technical analysis of SOL include a recovery from a 7.4% correction on April 30, establishing strong support at 140.65 and reaching new period highs at 152.69. The trading range of 12.04 points reflects volatility, with volume analysis showing increased trading during the correction followed by sustained buying interest during the recovery.

Recent price action suggests an ascending channel with resistance at 152.50 and key support at the 148.50-149.50 zone. Bullish momentum seems sustainable with higher lows indicating potential movement towards the 155.00 psychological level. Notably, SOL experienced significant volatility within a short timeframe, but key support was established at 151.10 with strong institutional interest observed during mid-session rally.

Please note that this article was written with the assistance of AI tools and reviewed by our editorial team to ensure accuracy and compliance with our standards. For further details, refer to CoinDesk’s full AI Policy. We have also included information from external sources for reference:

– NewsBTC, Solana Monthly Candle Reclaims Key Levels – Is $240 The Next Target?, published on April 30, 2025.
– NewsBTC, Solana: Analysts Forecast Q3 ATH Rally As SOL Retests Make Or Break Level, published on April 29, 2025.
– Cointelegraph, Why is Solana (SOL) price up today?, published on April 17, 2025.
– CryptoPotato, Tension Builds: Solana (SOL) on the Verge of a Huge Move?, published on April 30, 2025.

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April 23, 2025

Blockchain / Crypto / Cryptocurrency / Economics

PayPal to Pay 3.7% Annual Yield on Stablecoin PYUSD to Encourage Broader Use

Tags:AI CEO Chainlink Crypto ETH solana US

PayPal is stepping up its game in the stablecoin competition by offering U.S. users 3.7% annual returns on balances of its PayPal USD stablecoin. The yield, which is accrued daily and...

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April 23, 2025

Crypto / Cryptocurrency / Exchange

Bitcoin, Ether, Dogecoin Surge Spurs $500M in Short Liquidations

Tags:ADA AI Binance bitcoin btc China Crypto DOGE ETH memecoin solana Tariffs Trump US XRP

Over the past 24 hours, futures bets against higher crypto prices saw losses totaling over $500 million as a strong surge, potentially fueled by a U.S. decision to possibly ease China...

Over the past 24 hours, futures bets against higher crypto prices saw losses totaling over $500 million as a strong surge, potentially fueled by a U.S. decision to possibly ease China tariffs, resulted in the largest short liquidations since October.

Bitcoin (BTC) rallied from a low of $88,000 on Tuesday to above $93,500 during the Asian morning hours, leading a broader market jump with ether (ETH), Cardano’s ADA, and dogecoin (DOGE) all seeing a 14% increase. Solana’s SOL and XRP also rose by 7%, with all top hundred tokens by market cap showing gains.

Additionally, tokens like Sui Network’s SUI, UniSwap’s UNI, and Near Protocol saw strong gains of up to 18%. Memecoin mog (MOG) surged by 30%, continuing its trend of moving in sync with ETH.

Shorts worth nearly $530 million suffered losses as leveraged bets were unwound, with most short liquidations occurring on Bybit at $234 million, followed by Binance at $100 million and Gate at around $70 million. The largest single liquidation order involved an ETH futures position on Binance, valued at over $4.5 million.

Liquidations happen when an exchange closes a trader’s leveraged position due to a loss of the initial margin. This occurs when a trader doesn’t have enough funds to maintain the trade open.

The spike in crypto markets coincided with Trump’s comments about being open to positive trade talks with China and the possibility of reducing tariffs if a deal is reached. This news helped ease some of the cautious sentiment among traders.

Jeff Mei, COO at BTSE, shared his thoughts on the situation, mentioning the potential for rate cuts and a weakening U.S. dollar, which could explain the surge in bitcoin. If the U.S. dollar continues to depreciate, bitcoin may become a significant store of value as other currencies could also face depreciation.

Overall, the recent market movements reflect a mix of geopolitical factors and investor sentiment, pointing towards a potentially interesting period for the cryptocurrency market.

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April 22, 2025

Blockchain / Crypto

DAO Infrastructure Provider Tally Raises $8M to Scale On-Chain Governance

Tags:AI CEO Crypto ETH EU solana US

Tally, a leading provider of on-chain governance tooling, has secured $8 million in Series A funding to expand its governance technology for crypto-native decentralized autonomous organizations (DAOs). Tally is most recognized...

Tally, a leading provider of on-chain governance tooling, has secured $8 million in Series A funding to expand its governance technology for crypto-native decentralized autonomous organizations (DAOs). Tally is most recognized for its Tally Protocol, which enables top protocols to effectively manage on-chain governance for their DAOs, including well-known platforms like Arbitrum, Uniswap DAO, ZKsync, Wormhole, Eigenlayer, Obol, and Hyperlane.

“We have developed a comprehensive software suite for operating these on-chain organizations,” stated Dennison Bertram, CEO and co-founder of Tally Protocol. “We can support you from concept to token launch, membership distribution, and protocol value accrual.”

Initially designed as a DAO governance tool, the platform has now become the most widely adopted software stack for on-chain organizations across Ethereum and Solana blockchains.

Bertram believes that on-chain governance and capital formation could streamline organizational processes by using software instead of traditional jurisdictions. He envisions that in the future, on-chain organizations could offer competition to nation-states by simplifying the registration and operation process through platforms like Tally.

To address the issue of low voter turnout and apathy in DAO governance, Tally plans to use the Series A funding. The goal is to incentivize active participation in governance by introducing staking mechanisms that reward participants economically with Tally Liquid Staked Tokens (tLSTs) for voting within DAOs.

The recent regulatory clarity and changing attitudes towards crypto governance in the U.S. have opened doors for more institutional involvement in DAOs, according to Bertram. As a result, Tally aims to play a crucial role in advancing decentralized governance and providing greater economic value to token holders by rewarding engaged participants.

The Series A funding round was led by Appworks and Blockchain Capital, with BitGo and others participating. This funding follows Tally’s previous fundraising rounds of $7.5 million in 2021 across two rounds.

Tally is focused on expanding its original vision and demonstrating the effectiveness of on-chain governance for large organizations. With the increasing acceptance of crypto in driving future value, Tally aims to extend its reach beyond the crypto space and become a fundamental element in creating new organizations.

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April 22, 2025

Blockchain / Crypto / Cryptocurrency / Exchange

Mike Novogratz’s Galaxy Digital Swaps $100M ETH for SOL, On-Chain Data Shows

Tags:AI Binance Crypto ETH EU solana US

Galaxy Digital, a firm led by Mike Novogratz, has reportedly exchanged $100 million worth of ether (ETH) for solana’s SOL. According to on-chain data sourced from Wu Blockchain, Galaxy recently transferred...

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April 21, 2025

Crypto / Equities

BNB, SOL, XRP Spike Higher as Bitcoin ‘Digital Gold’ Narrative Makes a Comeback

Tags:ADA AI bitcoin btc Crypto ETH EU Europe gold solana Trading Trump XRP

Bitcoin’s price surge and its comparison to gold as a safe-haven asset is gaining traction as global markets face volatility. In Asian trading hours, BTC climbed above $87,000 alongside other cryptocurrencies...

Bitcoin’s price surge and its comparison to gold as a safe-haven asset is gaining traction as global markets face volatility. In Asian trading hours, BTC climbed above $87,000 alongside other cryptocurrencies like Cardano’s ADA, BNB Chain’s BNB, XRP, and ethereum (ETH). This rally reversed the recent declines and boosted tokens like Solana’s SOL by 5.2% in the past week.

The ongoing trade wars and fears of inflation have prompted investors to see bitcoin as a hedge similar to gold. Nick Ruck, director at LVRG Research, highlighted the changing correlation of bitcoin with U.S. equities and its strengthening connection to the price of gold. The recent surge in bitcoin to over $87,000 reflects renewed investor confidence amidst market stabilization following tariff-related panic.

Gold reached new highs above $3,380 per ounce, garnering year-to-date gains of 25%. Despite dropping over 20% from its January peak, bitcoin’s rally above $87,000 marks its highest level since early April. The weakening dollar, reflected in the three-year low of the dollar index (DXY), is driving investors towards safe-haven assets like gold, European bonds, and now, bitcoin.

Jeff Mei, COO at BTSE, pointed out the impact of President Trump’s actions on the U.S. dollar, leading investors to seek alternative assets such as bitcoin. With growing downward pressure on the dollar, bitcoin has the potential to become a safe-haven asset in the current economic climate.

In addition to market analysis, technical indicators reveal a positive outlook for cryptocurrencies like Cardano’s ADA, XRP, Solana’s SOL, and BNB. ADA is maintaining upward momentum with strong support levels, while XRP shows signs of breaking out from sideways trading. Solana’s rally above $135 is backed by strong volume confirmation, while BNB’s surge above $600 is supported by large holders and recent token burn events.

Overall, the narrative of bitcoin as “digital gold” is gaining traction as investors seek alternatives in times of market volatility and economic uncertainty.

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