Binance To Delist These 4 Crypto Sparking Price Crash Concerns

Binance To Delist These 4 Crypto Sparking Price Crash Concerns

Cryptocurrency exchange colossus Binance has again sent shockwaves across the broader market with its plans to delist 4 cryptocurrencies. An official announcement by the CEX on Thursday, April 24, revealed that the following tokens are to be delisted from the platform on May 2, 2025, at 03:00 UTC:

  • Alpaca Finance (ALPACA)
  • PlayDapp (PDA)
  • Viberate (VIB)
  • Wing Finance (WING)

As a result, usual market sentiments about the mentioned crypto prices remain highly bearish as one of the top crypto exchanges discontinues trading support for them.

Binance Delisting News: Here’s Why ALPACA, PDA, VIB, & WING Were Removed

According to Binance’s official release, the abovementioned cryptos will be delisted shortly due to a stockpile of risk factors that hamper user experience. Per the announcement, a thorough periodic review by the CEX concluded that these assets no longer meet the level of standards or industry requirements.

In response, the crypto exchange behemoth will delist the 4 tokens mentioned above. Mentioned below are some of the key factors that the exchange took into consideration before delisting the coins.

  • Commitment of the team towards the project.
  • Level and quality of development activity.
  • Trading volume and liquidity factors.
  • Stability and safety of the network from all types of malicious attacks
  • Level of public communication, community engagement, and transparency.
  • Responsiveness to our periodic due diligence requests.

Binance revealed that, based on these vital factors, among many others, the decision to remove Alpaca Finance, PlayDapp, Viberate, and Wing Finance spot trading pairs was taken. Moreover, ‘Trading Bots’ services for the same will also be suspended on the same date and time.

Users can move on to the official announcement for more details on Futures, Margin, Convert, and other related delistings for these assets. Overall, the announcement has dealt a severe blow to the market sentiment for these coins, with traders and investors even speculating about a sustained price crash ahead.

How Are The Coins Performing Today?

Binance’s delisting saga appears to have triggered a waning action in three of the four tokens mentioned above. WING price crashed over 30% in the last 24 hours and is currently sitting at $0.8451. Whilst VIB price also took heat, slumping 31.5% over the past day to $0.01530.

PDA price tanked nearly 17% and even hit a low of $0.009517 in the past 24 hours. However, ALPACA price has conversely gained roughly 13% to $0.04953. Crypto market traders and investors continue to monitor the tokens, mainly expecting increased volatility ahead due to the delisting.

In another similar chronicle, Binance recently delisted cryptos ACT, ALPHA, BLUR, CELR, PENGU, POND, and RUNE.

The post Binance To Delist These 4 Crypto Sparking Price Crash Concerns appeared first on CoinGape.

Crypto Market Live Today: Here is the Next Crypto to Hit $100 This Month

The post Crypto Market Live Today: Here is the Next Crypto to Hit $100 This Month appeared first on Coinpedia Fintech News

The markets began the weekly trade on a huge bullish note, with the price of top tokens trying to secure above the gained levels. However, the Ethereum price failed to sustain above $1800; meanwhile, the other tokens within the top 10 are working hard to keep up above the resistance. Amidst the bullish and bearish forces acting at a frequent level, here are some of the altcoins that are closely consolidating within a range and are believed to reach a 3-digit figure before the end of H1, 2025. 

Bitcoin SV (BSV) 

BitcoinSV has broken above the bearish pattern, and despite the correction, the token has been holding above the range. This suggests the bulls are vigilant about the price movements, and hence the token is believed to trigger a strong rise after a small consolidation. However, the volume remains drained, which could hinder the pace of the rally. 

The weekly chart BSV suggests the volatility of the token has dropped as the Bollinger bands have begun to squeeze. Besides, the weekly MACD suggests a drop in the selling pressure while the levels are heading towards a bullish crossover. Each time the Bollinger bands squeezed, the token has triggered a strong breakout. Therefore, the Bitcoin SV price is believed to reclaim $50 in a short while, which may further push the price to $100. 

Avalanche (AVAX) 

The Avalanche price has reached the neckline of a bullish pattern, which suggests the bulls are preparing for a huge bullish action. The technicals have turned bullish, which validates that a strong upswing could be on the horizon. Amid the bullish speculation, the question remains whether the AVAX price will rise back to $100. 

As seen in the above chart, the AVAX price has reached its lowest bottom, not seen since November 2023. The price is currently facing notable upward pressure as it has reached the neckline of the double-bottom pattern. The conversion & base lines of Ichimoku have undergone a bullish crossover, but the cloud has just turned bullish. On the other hand, the OBV has been rising since the start of March, hinting towards a rise in buying pressure, signaling a potential uptrend. 

Compound (COMP) 

The latest rise in the momentum of the markets has elevated the Compound price above the bearish range. Although the correction followed, the bulls are expected to keep up the momentum of the rally. The volume has been ranging at frequent intervals, which suggests the volatility of the token could increase in the coming days and in turn offer a positive impact on its price. 

As seen in the above chart, the Compound price has broken above the descending trend line, and despite a correction, the bulls have maintained a healthy upswing. A sudden rise in the money inflow, as seen in CMF, suggests a massive rise in the interest of the market participants. Therefore, the COMP price is believed to maintain a healthy ascending trend and rise above $48 in a short while. In the coming days, the volume is expected to rise, paving the way for the token to reclaim the lost levels above $100. 

The post Crypto Market Live Today: Here is the Next Crypto to Hit $100 This Month appeared first on Coinpedia Fintech News
The markets began the weekly trade on a huge bullish note, with the price of top tokens trying to secure above the gained levels. However, the Ethereum price failed to sustain above $1800; meanwhile, the other tokens within the top 10 are working hard to keep up above the resistance. Amidst the bullish and bearish …

Crypto Expert Predicts $1,000 XRP: Can Ripple Repeat Bitcoin’s Rise?

Ripple News_ When Will XRP Price Surge

The post Crypto Expert Predicts $1,000 XRP: Can Ripple Repeat Bitcoin’s Rise? appeared first on Coinpedia Fintech News

XRP is currently retesting important levels after a brief rally. While far-fetched XRP price predictions have been doing rounds lately, crypto commentator BarriC in a recent X post shared that once XRP hits the $100 mark, the price could skyrocket to $1,000.

BarriC believes that one day, people will be willing to pay $100 for one XRP. Once that price starts to feel normal and is seen as a good entry point, he says XRP could quickly rise to $1,000. He thinks people would still buy it at that price because they want to be part of the future global financial system.

In the comments, many agreed. They pointed out that when Bitcoin was cheap, most people doubted it would ever go up. Now, XRP is facing the same kind of doubt. But history shows that markets can change fast—sometimes in surprising ways. The big question is: can XRP follow Bitcoin’s path or maybe go even further? Only time will tell.

Ripple President Monica Long in the  2025 Crypto Outlook predicts that DeFi will expand into traditional finance, allowing 24/7 markets for FX, bonds, ETFs, and mutual funds. She expects 10 of 15 global banks, including Deutsche Bank, HSBC, UBS, and State Street, to launch tokenized offerings in 2025. 

XRP’s Phased Timeline

Ashley Prosper, a crypto enthusiast, recently shared insights from his conversation with ChatGPT over XRP’s future. It was a phased adoption timeline depending on favorable regulatory outcomes for Ripple.

In Phase 1 (2025–2027), the focus would be on achieving regulatory clarity and expanding Ripple’s On-Demand Liquidity network globally where XRP’s price could reach $400-$500. 

The price could further surge to $2,000-$2,500 in the phase 2 (2028-2032) as regional payment systems and smaller financial institutions start adopting XRPL. 

In the third phase (2033-2040), widespread adoption in traditional financial markets could push XRP to $10,000–$13,000. And beyond 2040, if XRP evolves into a core component of the global financial system, it could possibly breach $20,000.

The post Crypto Expert Predicts $1,000 XRP: Can Ripple Repeat Bitcoin’s Rise? appeared first on Coinpedia Fintech News
XRP is currently retesting important levels after a brief rally. While far-fetched XRP price predictions have been doing rounds lately, crypto commentator BarriC in a recent X post shared that once XRP hits the $100 mark, the price could skyrocket to $1,000. People will happily pay $100 per $XRP And once they’re getting their heads …

Coinstore at TOKEN2049, Connect and Innovation for a Crypto Future

coinstore-token20249

The post Coinstore at TOKEN2049, Connect and Innovation for a Crypto Future appeared first on Coinpedia Fintech News

Coinstore, a leading global cryptocurrency exchange, has announced its participation in TOKEN2049 Dubai, one of the world’s premier crypto and Web3 industry gatherings taking place from April 30 to May 1, 2025. Beyond the booth, Coinstore will host an exclusive Brand Conference and Afterparty, bringing together partners, community leaders, influencers, and media representatives from across the global Crypto ecosystem.

​​Coinstore Premiere Brand Conference: Connect & Innovate

On April 29, 2025, from 10:00 AM to 6:00 PM, Coinstore will host its “CONNECT & INNOVATE” conference at the DUKES THE PALM HOTEL in Dubai. The event will bring together global Web3 industry leaders, top investment institutions, innovative project teams, and technical developers to explore the future potential and collaborative opportunities in the crypto industry.

The conference will feature 10 keynote speeches from renowned Web3 thought leaders covering industry trends, technological evolution, and ecosystem development, alongside 5 panel discussions focusing on hot topics like AI+Crypto, RWA, DeFi, and infrastructure development.

With over 200 industry participants from exchanges, investment institutions, developers, and project teams expected to attend, the event will be simultaneously livestreamed on YouTube to maximize global reach and supported by more than 50 mainstream media outlets for multichannel, multilingual distribution.

coinstore

Register: https://lu.ma/mdbifipt

Coinstore Booth at TOKEN2049

As an integral part of its Dubai tour, Coinstore will establish a distinctive booth at the TOKEN2049 main venue (P39, Madinat Jumeirah) from April 29 to May 1. The booth design incorporates creative bar and mixology elements, cleverly conveying the platform’s openness, liquidity, and user-friendly attributes while providing visitors with an immersive crypto experience.

Gilded Mirage Afterparty

As the grand finale of our Dubai expedition, Coinstore is hosting the Gilded Mirage afterparty on May 1, 2025, from 5:00 PM to 8:00 PM at the Twenty Three Rooftop Bar.

This meticulously planned event offers attendees a networking platform that transcends conventional conference formats. Against the backdrop of the city’s night skyline, participants can engage in natural conversations with Coinstore’s leadership team, global investment firm representatives, and key industry figures in a relaxed and pleasant atmosphere. The setting encourages the exchange of ideas and exploration of collaborative opportunities.

This rare occasion allows you to expand your professional network and deepen industry partnerships while unwinding in an elegant setting.

golded-mirage

Register: https://lu.ma/xftac7lq

“Dubai has established itself as a crypto-friendly hub with forward-thinking regulations,” added Johnson, CEO at Coinstore. “TOKEN2049 provides the perfect backdrop for us to showcase our platform innovations and strengthen relationships with partners who share our vision of a more open and accessible financial future.”

The event’s co-organizers include KIOS, SCROLL, and Genezys. with DUX as the Diamond Sponsor.Gold Sponsors include BID, USA, Global Dollar, Opt Blockchain, OZK, IRON, ZELF, DEBC, MIST, TQF, TELcoin, Intelace, and ETHI.

With special thanks to Yido Labs, RWA, NOW, and IVT.

Media coverage for the event is supported by partners including MetaEra, PA News, Techflow, Coinpedia, Mpost, Coinedition, Voice Of Crypto, Cryptonite, Coinscapture, The News Crypto, Coingabbar, Blog Tiền Ảo, Droom Droom, BitPinas, Cryptic Web 3, Connect Web 3, The Blockopedia, Bit Digest, Geekmetaverse,Lydian Labs, AllConfs, TokTimes, 36 Crypto, KTRO, AZcoiner, Tiendientu, DU Says & Lcadamey.

About Coinstore

Accessibility. Security. Equity.

As a leading global platform for cryptocurrency and blockchain technology, Coinstore seeks to build an ecosystem that grants everyone access to digital assets and blockchain technology. With over 10 million users worldwide, more than 1,100 listed tokens including 100+ premium digital assets. Coinstore is dedicated to providing secure, professional, and accessible digital asset trading service.

As a pioneer in Launchpad, Coinstore’s Launchpad have shown remarkable performance, with an average ROI of prime exceeding 1,200%. Coinstore, the first choice for the initial launch.

Official website: www.coinstore.com

X: @CoinstoreExc

Linkedin: Coinstore.com

Telegram: @Coinstore_english

The post Coinstore at TOKEN2049, Connect and Innovation for a Crypto Future appeared first on Coinpedia Fintech News
Coinstore, a leading global cryptocurrency exchange, has announced its participation in TOKEN2049 Dubai, one of the world’s premier crypto and Web3 industry gatherings taking place from April 30 to May 1, 2025. Beyond the booth, Coinstore will host an exclusive Brand Conference and Afterparty, bringing together partners, community leaders, influencers, and media representatives from across …

Upbit Suspends SNX Deposits Amid Volatility and Investment Warning

The post Upbit Suspends SNX Deposits Amid Volatility and Investment Warning appeared first on Coinpedia Fintech News

Upbit has announced that it will suspend Synthetix (SNX) deposits starting from April 24 at 15:00 KST. This action comes after the sUSD stablecoin failed to maintain its peg to 1 USD, causing significant volatility in the SNX token. The Digital Asset eXchange Alliance (DAXA) has also flagged SNX as an “investment warning asset,” signaling potential risks for investors. The suspension aims to protect users amid these concerns.

The post Upbit Suspends SNX Deposits Amid Volatility and Investment Warning appeared first on Coinpedia Fintech News
Upbit has announced that it will suspend Synthetix (SNX) deposits starting from April 24 at 15:00 KST. This action comes after the sUSD stablecoin failed to maintain its peg to 1 USD, causing significant volatility in the SNX token. The Digital Asset eXchange Alliance (DAXA) has also flagged SNX as an “investment warning asset,” signaling …

Crypto Price Today: Dogecoin Dips While Bitcoin Price Steadies Amid Tariff News

Crypto Price Today

The post Crypto Price Today: Dogecoin Dips While Bitcoin Price Steadies Amid Tariff News appeared first on Coinpedia Fintech News

The crypto market today experienced a pullback, with major cryptocurrencies slipping as profit-taking kicked in after a solid run earlier in the week. 

Dogecoin (DOGE) was hit the hardest, falling more than 5%, while Bitcoin (BTC) maintained its stability around the $93,000 mark. 

Other large-cap tokens such as XRP, Solana (SOL), and Binance Coin (BNB) experienced losses of over 2%, with Ether (ETH) seeing a milder dip of 1.5%.

Why the Sudden Crypto Sell-Off?

The crypto market dropped by a modest 2.5%. This sell-off was not triggered by any negative news but rather by profit-taking after earlier gains. While global economic risks and political uncertainties continue to impact sentiment, Bitcoin stood resilient, attracting over $916 million in ETF inflows. Investors are increasingly viewing Bitcoin as a safe-haven asset amid volatile market conditions.

According to Vugar Usi Zade, an analyst at Bitget, Bitcoin’s correlation with stocks continues to weaken, while the U.S. dollar’s decline adds to its appeal as a store of value. However, short-term market movements remain heavily influenced by macroeconomic signals.

Global Politics and Macro Tensions Fuel Volatility

The global political landscape adds another layer of uncertainty. Although President Donald Trump recently reassured the market by stating that he does not intend to fire Fed Chair Jerome Powell, easing some bond market nerves, the ongoing trade war with China remains a wildcard. 

Some Chinese goods face tariffs as high as 245%, keeping tensions high. Meanwhile, QCP Capital notes that Powell’s statement removed a key risk factor, but geopolitical instability and unclear regulations continue to weigh on the market sentiment.

As a result, the market remains in a “wait-and-watch” phase. Bitcoin’s steady price action and growing ETF demand offer optimism, but the broader crypto market, particularly meme coins like DOGE, remains vulnerable to sentiment shifts.

Dogecoin: Analysts Spot Breakout Potential

Despite the current market dip, DOGE analysts remain optimistic about the coin’s long-term prospects. Crypto analyst Javon Marks believes that Dogecoin is still in an uptrend, despite its recent dip. He highlights that the price has been forming higher lows and higher highs, a classic pattern that indicates continued upward momentum. Marks predicts that DOGE could potentially reach $0.6533 or even $1.25 in the future if the bullish momentum continues.

On the other hand, analyst Ehsan Zeydabadi identifies a symmetrical triangle pattern forming for DOGE, a setup often indicative of an impending breakout. If DOGE breaks above its resistance levels soon, it could move towards $0.194, but if it fails to break out, the price could drop to around $0.146 or lower.

Bitcoin Price Today: Market Resilience Amid Volatility

While other cryptocurrencies face uncertainty, Bitcoin (BTC) has proven to be a resilient asset, attracting growing interest from institutional investors. Today, Bitcoin remains strong, holding near the $93,000 mark, as it benefits from its safe-haven appeal in uncertain economic times. 

This, coupled with its weakening correlation with traditional stocks and the declining U.S. dollar, positions Bitcoin as a potential store of value for the long term.

The post Crypto Price Today: Dogecoin Dips While Bitcoin Price Steadies Amid Tariff News appeared first on Coinpedia Fintech News
The crypto market today experienced a pullback, with major cryptocurrencies slipping as profit-taking kicked in after a solid run earlier in the week.  Dogecoin (DOGE) was hit the hardest, falling more than 5%, while Bitcoin (BTC) maintained its stability around the $93,000 mark.  Other large-cap tokens such as XRP, Solana (SOL), and Binance Coin (BNB) …

deFINTECH by EVAA at TOKEN2049: Where On-Chain Builders Talk Product, Not Hype

In the crypto market, a new generation of on-chain banking products is currently taking shape. Highlighting this evolution, EVAA Protocol, the first and leading DeFi protocol on TON, is hosting deFINTECH, a legendary side event of TOKEN2049 Dubai, in collaboration with TAC, the Layer 1 TON EVM network extension that connects the TON blockchain with Ethereum apps, allowing Telegram users to access popular EVM applications directly from their TON wallet.

The event is supported by key partners, including sponsor Ston.fi, the leading DEX on the TON blockchain, and media partners BeInCrypto and INCRYPTED, providing official media coverage. The curated gathering will take place on April 30, 2025, from 2 PM to 6 PM at DAOS HUB Dubai, deFINTECH’s official venue partner.

deFINTECH brings together the builders, product leaders, and fintech visionaries who are actively reimagining the future of banking on blockchain rails. The event focuses on envisioning on-chain neo-banking—financial services built natively on-chain and natively integrated into everyday platforms like Telegram. This includes exploring stablecoin payments, Telegram-native wallets, tokenized vaults, and intuitive on-chain yield tools.

Hosted by EVAA Protocol, deFINTECH highlights the platform’s dedication to DeFi accessibility and efficiency. EVAA provides liquidity market solutions and leveraged staking strategies, integrated deeply with Telegram and top-tier TON applications like Tonkeeper, Notcoin, Ston.fi, FIVA, TG Wallet, and DeDust. This creates a frictionless experience for users to borrow, lend, and earn yield on TON.

Why deFINTECH Matters

With Telegram’s crypto ecosystem gaining significant traction and stablecoins becoming a preferred medium for payments and savings, particularly in emerging markets, novel opportunities are arising at the intersection of Web3, embedded finance, and real-world adoption. deFINTECH serves as a dedicated venue for those pioneering this transformation.

The event is designed for founders and product leads building on-chain fintech solutions alongside wallet teams, L1/L2 ecosystem developers, and Web3 banking infrastructure builders. It also brings together investors, early adopters in social finance and DeFi, institutional players exploring on-chain finance, media, and strategic contributors focused on this evolving sector. With 150–190 highly relevant guests expected, the event fosters an atmosphere centered on valuable connections and substantive discussions.

One unique aspect of deFINTECH is that it moves away from traditional conference formats. Instead of stages and panels, the event prioritizes meaningful dialogue, fosters early-stage collaboration, and encourages product-first conversations. The goal is to create an atmosphere where genuine connections are made and practical solutions for the future of on-chain finance are discussed. deFINTECH offers a focused environment for meaningful connections and strategic dialogue during the busy TOKEN2049 week. Attendance at the event is by invitation only.

What To Expect

Attendees can anticipate an afternoon centered around direct interaction and collaboration. The format includes focused roundtable discussions exploring the future of neo-banking and DeFi user experience. There will also be opportunities for live demos and product showcases presented in a casual, off-stage setting.

Attendees can also expect to participate in open networking with other participants, ensuring valuable interactions without superfluous presentations. deFINTECH cultivates a culture of co-creation, inviting attendees to actively take part in shaping the conversation rather than passively consuming content. The agenda features focused discussions, including insights from venture capital, partner spotlights, and collaborative talks, all interwoven with ample networking time.

The Venue: DAOS HUB Dubai

deFINTECH will be hosted at DAOS HUB Dubai, serving as the event’s official venue partner. Located in the heart of Dubai, DAOS HUB is a purpose-built ecosystem that provides a space where Web3 builders, contributors, and innovators can collaborate and grow. Its mission is to create an ideal environment for Web3 startups to thrive through network-native connections and curated access, making it a fitting backdrop for the event’s forward-looking conversations. The event runs from 2 PM to 6 PM on April 30, 2025.

“Web3 doesn’t need another conference. It needs a product room,” said Vlad Kamyshov, CEO of EVAA Protocol.“At deFINTECH, we stop pitching dreams and start building real tools — right inside Telegram, where our users already are. We believe stablecoin payments, Telegram-native wallets, and on-chain yield tools can reimagine banking—making it open, permissionless, and composable. This isn’t just a trend — it’s a movement. Our goal is to bring together the builders and visionaries shaping the next financial layer.”

For those actively working on Telegram-based payment rails, secure yield vaults for stablecoins, or compliance-friendly DeFi applications, deFINTECH offers a unique space to connect, collaborate, and contribute to the next wave of financial innovation.

Secure your spot here.

The post deFINTECH by EVAA at TOKEN2049: Where On-Chain Builders Talk Product, Not Hype appeared first on BeInCrypto.

Binance Delists Four Tokens, ALPACA Surges 71% While Others Plunge

Binance, the world’s largest cryptocurrency exchange, has announced that it will delist four tokens. These include Alpaca Finance (ALPACA), PlayDapp (PDA), Wing Finance (WING), and Viberate (VIB).

PDA, WING, and VIB witnessed a notable drop in value following the announcement. Yet, ALPACA has bucked the trend, experiencing a surge despite its impending removal from the platform.

Binance To Delist ALPACA, PDA, WING, and VIB

According to the official announcement, the delisting will take effect on May 2 at 03:00 UTC.  After May 3, users will no longer be able to deposit these tokens

In addition, withdrawals will be unavailable after July 4. Lastly, open positions in Binance Futures related to the tokens will be closed by April 30. 

The decision aligns with Binance’s periodic review process, which evaluates tokens based on factors such as volume, liquidity, project team activity, compliance with regulatory requirements, etc. The exchange stated that these tokens failed to meet the required criteria, prompting their removal.

“When a coin or token no longer meets these standards or the industry landscape changes, we conduct a more in-depth review and potentially delist it. Our priority is to ensure the best services and protections for our users while continuing to adapt to evolving market dynamics,” Binance noted.

The move came shortly after Binance wrapped up the second round of the “Vote to Delist” campaign. 8.2% of the total votes were in favor of delisting PDA. Meanwhile, ALPACA followed with 6.3% of the votes, and WING garnered 3.8%. VIB was not included among the 17 tokens up for community voting.

Interestingly, despite the FTX Token (FTT) leading the vote with 11.1%, Binance has excluded it from its latest list of tokens to be removed from the platform.

ALPACA’s Surge Amid Binance Delisting Sparks Concerns

Following the news, PDA, WING, and VIB plunged by double digits. BeInCrypto data showed that WING saw the highest decline. The token shed 31.8% of its value. VIB followed closely with a 29.7% downtick. In addition, PDA’s value decreased by 17.0%.

ALPACA, PDA, WING, VIB Price Performance. Source after binance delisting
ALPACA, PDA, WING, VIB Price Performance. Source: TradingView

However, shortly after the announcement, ALPACA’s price surged 71.3%. Moreover, its trading volume increased by 417.2%. The rise wasn’t typical for a token up for delisting, raising concerns.

Most of the time, a delisting announcement triggers substantial drops in price, as seen in previous cases.

In the latest X (formerly Twitter) post, an analyst highlighted ALPACA’s unusual reaction, which he said was likely manipulated.

“ALPACA after a major dump showed immense squeeze. Rised to over 100%; liquidated some heavy shorters, heavy manipulation out there,” the post read.

The analyst advised users to stay cautious and avoid falling for potential “exit scams,” where prices are artificially inflated to benefit manipulators at the expense of unsuspecting investors.

The post Binance Delists Four Tokens, ALPACA Surges 71% While Others Plunge appeared first on BeInCrypto.

ZKsync Price Falters Despite 90% of Stolen Funds Returned Within Safe Harbor Deadline

Over a week after the Zksync hacking incident, the exploiter agreed to a bounty and returned a significant portion of the loot.

Despite recovering stolen funds, the network’s powering token, ZK, continues to exhibit bearish sentiment.

ZKSync Hacker Returns $5.7 Million

On April 15, the Ethereum-based  Layer-2 scalability solution, ZKsync, suffered a hack. The compromised account controlled $5 million worth of ZK tokens. As BeInCrypto reported, the incident had caused a 16% price drop.

The incident was controversial after some community members noticed some concerning data. The revelations led to dire allegations, with some likening ZkSync to Mantra (OM). To some, ZKsync responded to the hack by dumping their assets at an accelerated pace.

“The ZkSync team has released 110 million tokens and sold 66 million. The price of ZK is going against the trend as the market is recovering, and it has immediately dropped by 15%. First OM, now ZK, this project seems to be heading in the wrong direction,” one user noted.

This bordered on embezzlement. However, in a recent development, the ZKsync Association revealed that the hacker returned 90% of the funds, effectively honoring the safe harbor deadline.

Through an April 21 post on X (Twitter), the ZKsync Security Council offered the hacker a 10% bounty if they returned the stolen funds, allowing a 72-hour window.

“To resolve this matter amicably in the spirit of safe harbor, we are offering a 10% bounty for your cooperation if you return 90% of the funds involved in the exploit,” ZK Nation shared on X.

As it happened, the bad actor heeded, transferring almost $5.7 million to the ZKsync Security Council across three transfers on April 23.

Specifically, they sent two transfers on the ZKsync Era blockchain. The first involved sending $1.83 million worth of Ethereum (ETH) to the ZKsync Security Council’s ZKsync Era address, and the second involved sending $2.47 million worth of ZKsync tokens.

Transfers made through the ZkSync Era blockchain
Transfers made through the ZkSync Era blockchain. Source: explorer.zksync.io

In the third transaction, the ZKSync hacker sent 776 ETH worth approximately $1.4 million to the ZkSync Security Council’s Ethereum address.

Transfers made to the ZKsync Security Council’s ZKsync Era address
Transfers made to the ZKsync Security Council’s ZKsync Era address. Source: Etherscan.io

With this, the ZKsync Association committed to publishing a final report revealing more details about the security incident.

Meanwhile, it is worth noting that the hacker followed instructions given by the ZKsync Security Council to the letter. Based on this, the case closes without further action.

It mirrors past incidents, including Ronin Bridge hackers returning $10 million worth of ETH and earning a $500,000 bounty.

Despite the turn of events, however, the ZK token continues to display bearish sentiment, down by nearly 2% in the last 24 hours. As of this writing, ZKsync’s token was trading for $0.06.

ZKsync (ZK) Price Performance
ZKsync (ZK) Price Performance. Source: BeInCrypto

Meanwhile, not all hacking incidents honor safe harbor offers. Recently, Bybit launched a bounty program offering up to 10% of recovered funds to ethical hackers and cybersecurity experts.

This incentivized efforts to reclaim $1.4 billion in stolen assets. While some efforts to reclaim lost assets yielded results, the partial recovery was thanks to key industry players stepping in, not the exploiter.

Meanwhile, other ecosystems leverage bounty programs to bolster security. Cardano’s Charles Hoskinson recently offered a $1 million bounty for hacking the new Lace Paper Wallet, testing its security.

Similarly, Uniswap announced a record-breaking $15.5 million bug bounty targeting critical vulnerabilities in its v4 core contracts.

The post ZKsync Price Falters Despite 90% of Stolen Funds Returned Within Safe Harbor Deadline appeared first on BeInCrypto.

Institutional Inflows vs. Retail Retreat: Who’s Driving Bitcoin Now? | ETF News

Bitcoin ETFs continued their inflow streak on Wednesday, raking in over $900 million in fresh capital. 

However, despite the bullish ETF demand, Bitcoin’s open interest has dipped, and its funding rates have flipped negative, a sign that short-term market sentiment may be shifting. 

Bitcoin ETFs Stay Hot

BTC spot ETFs continued to draw investor interest on Wednesday, extending their inflow streak with another $916.91 million in net inflows. 

This marked the fourth consecutive day of inflows, highlighting the growing institutional appetite for BTC exposure, especially as the coin’s price attempts to stabilize above the $90,000 level.

Total Bitcoin Spot ETF Net Inflow
Total Bitcoin Spot ETF Net Inflow. Source: SosoValue

On Wednesday, BlackRock’s ETF IBIT recorded the largest daily net inflow, totaling $643.16 million, bringing its total cumulative net inflows to $40.63 billion.

Ark Invest and 21Shares’ ETF ARKB followed in second place with a net inflow of $129.50 million. The ETF’s total historical net inflows now stand at $3 billion.

Traders Exit Bitcoin Positions as Market Sentiment Turns Cautious

Trading activity across the crypto market has dipped over the past 24 hours, with the total market capitalization shedding $18 billion during the period. 

This pullback has contributed to a modest 1% decline in BTC’s price. The drop in momentum is evident in the coin’s falling futures open interest, which signals reduced trading participation. At press time, BTC’s futures open interest is at $64.54 billion, plunging by 5% in the past day.

BTC Futures Open Interest.
BTC Futures Open Interest. Source: Coinglass

When an asset’s price and open interest plummet like this, it signals that traders are closing out positions rather than opening new ones. This combination reflects weak conviction and a potential trend reversal or deeper correction in the BTC market.

Further, BTC’s funding rate has flipped negative once again, indicating that short traders have regained dominance and are now paying to maintain their positions. At press time, this is at -0.0053%. 

BTC Funding Rate
BTC Funding Rate. Source: Coinglass

When BTC’s funding rate is negative, short sellers are paying long holders to keep their positions open. This indicates that bearish sentiment dominates the market and suggests that traders expect the coin’s price to decline soon.

Moreover, today’s high demand for puts in the BTC options market supports this bearish outlook. According to Deribit, BTC’s put-to-call ratio is currently at 1.36.

BTC Options Open Interest.
BTC Options Open Interest. Source: Deribit

This indicates that more put options are traded than calls, suggesting a bearish bias among options traders. The ratio reflects growing expectations of downward price movement.

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