Cardano daily transactions have reached a peak of 50,000, buoyed by glowing fundamentals, including the prospects of an ADA ETF. ADA price surging from the fallout of positive on-chain metrics, with traders keeping their eyes peeled for a potential price breakout. Daily Transactions Reach 50,000 Driven By ADA ETF Prospects According to an X post from TapTools, daily transactions on Cardano have surged 50,000 from their previous lows. At the start of May, daily transactions were under 30,000, but numbers steadily climbed to set a new monthly high. Cardano transaction volumes are also pulling in impressive numbers, soaring to $684.6 million over the last day. The metrics around the network have seen Cardano price gain nearly 8% since the start of May. JUST IN: Daily Cardano $ADA transactions have climbed from ~30,000 to nearly 50,000 since the start of May. pic.twitter.com/MkDBkizB34 — TapTools (@TapTools) May 27, 2025 In the push… Read More at Coingape.com
The crypto market took a sharp hit on March 4, losing $800 million in value as prices dropped. After briefly crossing $3 trillion, the total market cap fell 9% to $2.77 trillion, with trading volume also dipping 14% to $177 billion. Bitcoin, Ethereum, and XRP initially jumped after Trump announced plans for a U.S. crypto reserve, but the excitement faded quickly. New tariffs on Mexico and Canada added pressure, causing a market-wide sell-off and reminding investors how sensitive crypto remains to economic shifts.
Trump’s Crypto Strategic Reserve plan briefly lifted Bitcoin 10%, Ethereum 13%, and XRP 34%.
But traders rushed to sell, flooding exchanges with 6,739 Bitcoin per hour and 300,000 Ethereum inflows.
Interestingly, while the whole crypto is on bear more, large holders—commonly referred to as whales—began shifting vast amounts of crypto to exchanges. This came right after Trump announced his plans to include other crypto assets in the crypto reserve plan. According to CryptoQuant, hourly inflows of XRP soared to 193 million tokens, primarily from wallets executing transactions of over 1 million XRP each. Bitcoin inflows skyrocketed from a typical 500-1,000 BTC per hour to an astonishing 6,739 BTC. Meanwhile, Ethereum saw a similar pattern, with nearly 300,000 ETH sent to exchanges within a single hour.
Trump-n-Dump.
– After Trump’s Strategic Reserve message, crypto prices have given back all of their previous gains as traders rushed into exchanges to sell.
– The subsequent drop in crypto prices indicates that real spot demand continues in contraction territory.
When institutional or large investors move assets to exchanges, it typically signals selling pressure. Most long-term investors keep their holdings in cold storage, meaning large transfers to exchanges often precede a sell-off. This massive inflow coincided with price swings across the market, indicating that traders likely took advantage of the Trump-induced rally to offload assets.
Bitcoin Demand in Decline—What’s Next?
CryptoQuant analysts noted that despite the short-lived price spike, real spot demand remains weak. Bitcoin’s apparent demand, a key metric tracking the balance between newly mined coins and existing supply, has been in decline since late 2024. This trend has pushed demand into contraction for the first time since September 2024, raising concerns about Bitcoin’s ability to sustain rallies.
Retail accumulation has also slowed since November, further reducing buying pressure. Without fresh capital entering the market, sustaining upward momentum in crypto prices will be difficult.
Can Trump’s Pro-Crypto Stance Revive the Market?
Trump’s support for crypto has created buzz about new rules and big investors jumping in, but the market’s reaction shows traders are still unsure. If more people don’t start buying, prices could have a hard time staying up, even with all the excitement around the U.S. crypto reserve plan. Now, investors are waiting to see if this move will bring long-term growth or just more price swings.
A massive scandal has shaken the crypto world, and it’s all about the MOVE token. What was supposed to be a successful launch for MOVE ended in disaster, causing its price to drop to an all-time low of $0.219. Behind this sudden collapse lies a financial deal that was supposed to boost the token’s success but instead led to market manipulation and shady tactics.
Who’s really behind this crypto chaos, and how did it all go so wrong? Let’s break down the details.
Deceptive Deal Leads to a Price Collapse
The Movement Foundation, behind the launch of MOVE, is now under investigation for signing a deal that gave a single entity disproportionate control over the token market. The agreement granted Web3Port, a Chinese market maker with ties to Donald Trump-affiliated World Liberty Financial, significant leverage.
This resulted in the sale of 66 million MOVE tokens just one day after their debut in December. The massive token dump triggered a sharp price drop and sparked allegations of insider trading.
Rentech: The Middleman at the Center of the Scandal
Internal messages from Movement’s co-founder, Cooper Scanlon, revealed that they were deceived into working with a middleman named Rentech. Initially believed to be a subsidiary of Web3Port, Rentech turned out to be a separate entity that facilitated this market manipulation.
The deal allowed Rentech to borrow up to 5% of MOVE’s total supply, giving them significant control over the token’s price, raising red flags about potential price manipulation.
Incentives for Price Manipulation
The market-making agreements involved unusual provisions, such as one that incentivized Rentech to artificially push the price of MOVE token over $5 billion in value. This setup would have allowed them to profit from a sharp price rise and then sell off their tokens, benefiting from the inflated price.
Industry experts, including crypto founder Zaki Manian, called this structure “dangerous” and unethical, accusing the deal of encouraging price manipulation.
Internal Conflicts and Investigation
Movement is also facing internal tensions. Allegations have surfaced about co-founder Rushi Manche’s involvement in pushing for the deal, with some suggesting that conflicts of interest played a role.
The company is now investigating these claims and working to hold those responsible accountable.
Binance Steps In
As a result of the token dump, Binance, one of the largest crypto exchanges, banned the market-making account tied to Rentech. In response, Movement Foundation launched a token buyback initiative to stabilize the price and regain investor trust.
Despite the negative press and the fallout from the price crash, Movement Labs has promised to investigate the circumstances surrounding the deal and ensure accountability.
The post MOVE Token Scandal News: Who & How Market Manipulation Led to Massive Price Drop appeared first on Coinpedia Fintech News
A massive scandal has shaken the crypto world, and it’s all about the MOVE token. What was supposed to be a successful launch for MOVE ended in disaster, causing its price to drop to an all-time low of $0.219. Behind this sudden collapse lies a financial deal that was supposed to boost the token’s success …
Crypto scams are surging as more people flock to digital currencies, with fraudsters exploiting the industry’s rapid growth to deceive investors.
Recently, numerous crypto users reported receiving fraudulent emails claiming that the Gemini exchange had filed for bankruptcy. Meanwhile, Coinbase Exchange has admitted that an employee illegally accessed user account information.
Gemini Exchange Addresses Bankruptcy Allegations
Multiple accounts highlighted the scam on social media, indicating that an email circulating falsely claims that Gemini has filed for bankruptcy. The email instructed users to withdraw to an Exodus wallet and provided a seed phrase.
These phishing emails, shared on April 1, urged recipients to withdraw their funds into a specified crypto wallet to protect their assets. This was an attempt to deceive users into transferring their cryptocurrencies to wallets controlled by scammers.
“Do not follow these directions. Please retweet to protect those that may have been doxxed and sent this email,” wrote Jason Williams, a contributor to Fox Business.
The deceptive emails alleged a substantial loss of $1.2 billion by Gemini Exchange. Understandably, some novice investors would heed this email and even move their assets to the address. After all, some victims of FTX Exchange contagion continue to pursue their funds even years after the incident.
“I got one also. It is better than your typical ‘Coin Base’ one, but still not quite there. Might fool a boomer though,” one X user remarked.
However, security experts advise users to always verify information through official channels, avoid clicking on unsolicited links, and refrain from sharing personal data. Gemini issued an official warning in response to the scam, acknowledging the threat against its users.
“We recently learned that some Gemini customers are being targeted with scam emails requesting users to transfer their crypto to outside wallets. Please be aware that Gemini will never request that you send crypto to outside wallets,” the exchange articulated.
Coinbase Admits Employee Illegally Accessed User Account Data
Coinbase exchange acknowledged a privacy violation by one of its staff in a somewhat related development. Specifically, a customer service employee accessed user account information without authorization.
This breach has raised concerns about potential scams targeting Coinbase users. Mike Dudas, a crypto investor and co-founder at The Block, shared an email from Coinbase acknowledging the incident.
“That explains the fake Coinbase phishing emails and phone calls today,” he stated.
This breach coincides with reports of phishing attempts, as users have received fake emails and calls purporting to be from Coinbase. These incidents reflect a broader wave of crypto-related fraud.
Blockchain investigator ZachXBT reported that Coinbase users lost over $65 million to social engineering scams between December 2024 and January 2025.
“Coinbase did not detect it; I sent them the intel,” the blockchain investigated noted.
Additionally, crypto analyst Cobie suggested Kraken might be experiencing a similar issue. Per his post, a new attack may be budding, where attackers infiltrate customer service roles to exfiltrate data.
“Kraken also recently hit with this too. Maybe a new scheme from attackers (get a CS agent employee in, exfil data),” the analyst remarked.
Amidst these events, ZachXBT recently explained how to avoid crypto scams. He emphasizes the importance of conducting thorough research before engaging with new DeFi protocols, especially those forked from existing projects on newly launched EVM chains.
