Spanish banking giant Cecabank has officially teamed up with crypto exchange Bit2Me to launch an all-in-one platform that offers crypto services to traditional financial institutions. With this, Cecabank cements itself as one of the leading adopters of digital assets in Spain and Portugal. Inside the CecaBank-Bit2Me partnership The new solution developed by Cecabank and Bit2Me will offer real-time access to the crypto market, provide custody services, and provide a trading engine with over 100 assets available, as well as support full trade execution. Through their partnership, Bi2Me will provide trader routing and trade execution services, while Cecabank will ensure compliance, operational security, and asset custody. Executives of Cecabank and Bit2Me Both companies reached an agreement in May 2024 to accelerate widespread adoption of digital assets in banking and the corporate world. Fast-forward to today; their joint platform is complete and awaits final clearance from the Spanish Securities Market Commission (CNMV)…. Read More at Coingape.com
BitMEX founder Arthur Hayes has recently conveyed a highly bold prediction for Bitcoin price, predicting it to hit $1 million in a few years. Speaking at the TOKEN2049 event in Dubai, Hayes outlined a potential timeline for such a bullish feat to occur, sending shockwaves across the crypto sector. Notably, BTC price is currently trading at the $95K level, showcasing bullish strength after a market turmoil witnessed at the beginning of this year.
BitMEX’s Arthur Hayes Predicts Bitcoin Price To Hit $1M; Here’s When
BitMEX founder Arthur Hayes has predicted that Bitcoin price will hit $1 million by 2028 during his speech at TOKEN2049. Primarily, he believes that if the U.S. increases dollar liquidity through measures that are similar to quantitative easing, cryptocurrency prices could leverage a significant surge.
For context, increased dollar liquidity could mean more money flowing into risk assets such as BTC. In response, the market could see the flagship coin gain substantially, with Hayes believing that $1 million is in BTC’s grasp.
Besides, the current broader market uncertainty remains primarily attributable to Trump’s push for high tariff policies, although the tariffs have been delayed for 90 days, per Arthur Hayes. Even Fed Chair Jerome Powell may be reluctant to intervene directly, he stressed looking at the current market landscape. This could pave the way for short-term price volatility.
BTC price is currently trading at the $94K level, consolidating over the week after a market turmoil caused due to Trump’s tariff flip-flopping. Yet, the flagship crypto remains much-eyed by traders and investors globally amid such bold predictions.
Bullish Factors In Play
Coinglass data further indicated that BTC futures OI remained above the $60 billion mark, an optimistic dynamic underscoring heightened market interest. This stat has added to sentiments of a bull run looming for the flagship coin right ahead.
In addition, a Bitcoin price prediction by CoinGape also revealed that bulls remain dominant over the token at the moment, as per the 3-month bias indicator. However, this prediction has highlighted that the max target for 2028 remains $148K, a level substantially below Arthur Hayes’ forecast.
In conclusion, broader market sentiments revolving around the coin’s long-term prospects remain bullish amid strong dynamics, although the exact target for 3 years down the line remains speculative.
Subsequently, it’s also worth keeping in mind that the next BTC halving will take place in 2028, another bullish aspect when considering future movements.
Ethereum’s recently introduced smart wallet feature, EIP-7702, is under scrutiny after blockchain security researchers uncovered cybercriminals’ misuse of it. Following the Pectra upgrade, several wallet providers have begun integrating EIP-7702 features.
Analysts at Wintermute, a crypto trading firm, noted that attackers used 97% of EIP-7702 wallet delegations to deploy contracts designed to drain funds from unsuspecting users.
Hackers Use Ethereum’s EIP-7702 to Automate Mass Wallet Drainings
EIP-7702 temporarily allows externally owned accounts (EOAs) to operate as smart contract wallets. The upgrade enables features like transaction batching, spending limits, passkey integration, and wallet recovery—all without changing wallet addresses.
Instead of moving ETH manually from each compromised wallet, attackers now authorize contracts that automatically forward any received ETH to their own addresses.
“No doubt attackers are one of the early adopters of new capabilities. 7702 was never meant to be a silver bullet and it does have great use cases,” Rahul Rumalla, Chief Product Officer at Safe, said.
Wintermute’s analysis shows that most of these wallet delegations point to identical codebases designed to “sweep” ETH from compromised wallets.
These sweepers automatically transfer any incoming funds to attacker-controlled addresses. Out of nearly 190,000 delegated contracts examined, more than 105,000 were linked to illicit activity.
Koffi, a senior data analyst at Base Network, explained that over a million wallets interacted with suspicious contracts last weekend.
He clarified that attackers didn’t use EIP-7702 to hack the wallets but to streamline theft from wallets with already exposed private keys
In case it wasn’t clear:
These wallets were not hacked using 7702. The hacker obtained the private keys without doing anything related to 7702.
And, since they have the keys, they could transfer money out of these wallets by making regular transactions from each one.…
The analyst furthered that one standout implementation includes a receive function that triggers ETH transfers the moment funds land in the wallet, eliminating the need for manual withdrawal.
“The new mechanism EIP-7702 is used most by coin stealing groups (not phishing groups) to automatically transfer funds from wallet addresses with leaked private keys/mnemonics,” he stated.
Despite the scale of the operation, there are no confirmed profits so far.
A researcher at Wintermute noted that attackers have spent about 2.88 ETH authorizing over 79,000 addresses. One address alone executed nearly 52,000 authorizations, yet the target address has not received any funds.
April has been a turbulent month for XRP, starting at around $2.0897 and experiencing significant fluctuations. After a sharp correction of 14.06% early in the month, XRP saw a notable 20.08% surge between April 9 and 12. The price peaked at $2.3618 on April 28 but has since dropped by 3.98% since April 29, with a further 2% decline in the last 24 hours.
This recent price drop has led to intense debate among analysts. Some predict XRP price crash to as low as $1.55, while others argue that the current dip is merely a shakeout before XRP embarks on its next major rally.
Will XRP Price Crash in May?
Crypto analyst BLOCK BULL foresees a potential drop in the XRP market, suggesting that the price may dip below $2 in the short term. His forecast comes after XRP was rejected at the top of a bull flag pattern. Since then, the market has fallen by over 8%, and BLOCK BULL predicts a further decline to as low as $1.55—an over 30% drop from the recent high.
Is XRP’s Growth Potential Over?
Despite the bearish outlook from some analysts, many experts, including BLOCK BULL, believe the recent downturn is only temporary. They highlight XRP’s solid fundamentals, citing Ripple’s strategic partnerships, regulatory progress, and growing institutional adoption as key factors driving long-term growth.
In particular, Ripple’s recent success in halting legal proceedings with the U.S. Securities and Exchange Commission (SEC) has paved the way for a permanent settlement, further bolstering XRP’s long-term outlook.
XRP Price Analysis
Despite the current dip, most experts see this as an ideal buying opportunity. BLOCK BULL points out that whales are using price drops to accumulate more XRP, positioning themselves for the next upward move. Another analyst, BitGuru, sees $2.15 as a crucial support level. If XRP holds above this level, it could potentially bounce back to $2.25 or even higher.
Brett also believes in XRP’s long-term potential, stressing that the real value will be evident for those who hold through market fluctuations.
Conclusion
The consensus is clear: While XRP may experience short-term volatility, the current dip is an opportunity for long-term investors. With strong fundamentals and an improving regulatory environment, XRP’s price could see significant gains in the coming months. Keep an eye on support levels and market trends as we head into May.
Never Miss a Beat in the Crypto World!
Stay ahead with breaking news, expert analysis, and real-time updates on the latest trends in Bitcoin, altcoins, DeFi, NFTs, and more.
The post XRP Faces Price Crash Warning, But Experts Say It’s All Part of a Bigger Plan appeared first on Coinpedia Fintech News
April has been a turbulent month for XRP, starting at around $2.0897 and experiencing significant fluctuations. After a sharp correction of 14.06% early in the month, XRP saw a notable 20.08% surge between April 9 and 12. The price peaked at $2.3618 on April 28 but has since dropped by 3.98% since April 29, with …
