PancakeSwap (CAKE) Soars 21% as Inflows Hit Monthly High, Surpassing $3 Million

PancakeSwap’s CAKE token is the market’s top performer today, surging 21% in the past 24 hours.  At press time, the altcoin trades at $2.56.

This rally comes as CAKE records its highest daily spot inflow in a month amid strong demand and renewed investor interest in the token.

CAKE Rockets Higher with $3.37 Million Inflows—Is More Upside Ahead?

CAKE’s price rally is primarily driven by the sharp increase in trading activity on the PancakeSwap decentralized exchange (DEX). Over the past few days, the platform has seen a significant uptick in daily trading volume, outperforming Ethereum’s Uniswap and Solana’s Raydium.

The trend has triggered a surge in demand for the DEX’s native token, CAKE, causing its value to soar by double digits. The uptick in buying pressure is reflected by the token’s spot inflows, currently at $3.37 million, its single-day highest figure in the past month.

CAKE Spot Inflow/Outflow.
CAKE Spot Inflow/Outflow. Source: Coinglass

When an asset records spot inflows, the number of tokens purchased and moved into spot markets has increased, indicating rising demand. CAKE’s high spot inflows suggest that investors are actively accumulating the asset. If this buying pressure continues, it can drive further price appreciation. 

This is a bullish signal, especially as it is accompanied by positive market sentiment, as shown by the token’s funding rate, which is 0.0021% as of this writing. 

CAKE Funding Rate.
CAKE Funding Rate. Source: Coinglass

The funding rate is a periodic fee exchanged between long and short traders in perpetual futures contracts to keep the contract price aligned with the spot market. A positive funding rate means long traders are paying short traders, indicating strong demand and bullish market sentiment for CAKE.

With rising inflows and growing demand, CAKE’s price performance suggests that traders are positioning for further upside. If demand continues at this pace, the token could extend its gains, drawing even more liquidity into PancakeSwap’s ecosystem.

CAKE Holds Strong Above 20-Day EMA—Bullish Momentum Builds

CAKE’s rally has pushed it significantly above its 20-day exponential moving average (EMA) which now forms dynamic support below its price at $1.93.

This moving average measures an asset’s average price over the past 20 trading days. It gives more weight to recent price data, making it more responsive to price movements than a simple moving average. 

When an asset’s price climbs above the 20-day EMA, it signals bullish momentum, suggesting that buyers are in control and the asset may continue its upward trend.

If this trend persists, CAKE could extend its uptrend to $2.90.

CAKE Price Analysis.
CAKE Price Analysis. Source: TradingView

On the other hand, a resurgence in profit-taking activity could prevent this from happening. If CAKE demand stalls and it sheds its recent gains, its value could plunge to $2.41. If that support level fails to hold, the token’s price could drop to $2.01.

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Hedera (HBAR) Attempts Rebound with $1.85 Million in Fresh Inflows

HBAR has recorded its first spot inflow in the past seven days, attracting $1.5 million in fresh capital. 

This marks a positive shift in market sentiment as investors regain confidence in the altcoin. It also aligns with the broader market’s attempt to recover from recent downturns.

Bullish Momentum Builds as HBAR Gains $2 Million in Inflows

HBAR’s spot inflows surged to nearly $2 million on Monday, signaling a resurgence in bullish sentiment toward the altcoin. Data from Coinglass reveals that this is the first time HBAR has attracted fresh capital in seven days, marking a shift in investor confidence.

HBAR Spot Inflow/Outflow
HBAR Spot Inflow/Outflow. Source: Coinglass

According to the on-chain data provider, between March 11 and 16, the altcoin faced consistent sell pressure, with spot outflows exceeding $10 million. This latest inflow suggests a bullish reversal in market sentiment, hinting at a possible recovery as investors regain interest in HBAR.

Furthermore, the altcoin’s positive Balance of Power (BoP) highlights this renewed interest. At press time, this momentum indicator is in an upward trend at 0.62. 

HBAR BoP
HBAR BoP. Source: TradingView

The BoP indicator measures the strength of buyers against sellers in the market to identify momentum shifts. A positive BoP like this suggests that buying pressure outweighs selling pressure, indicating growing demand and potential price appreciation. 

If HBAR’s BoP remains positive, it confirms the bullish dominance, reinforcing the current buying pressure and supporting a sustained uptrend in the asset’s value.

HBAR Eyes $0.22 as Demand Grows—Will Bulls Maintain Momentum?

HBAR exchanges hands at $0.19 at press time, trading above the support floor at $0.17. As demand grows, the altcoin could climb toward the resistance at $0.22.

A successful break above this level could propel HBAR’s price to $0.26, a high it last traded at on March 4.

HBAR Price Analysis
HBAR Price Analysis. Source: TradingView

Conversely, the bullish outlook would be invalidated if sellers regain dominance and profit-taking strengthens. In this case, HBAR’s price could fall to $0.17. 

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Top 3 Crypto Airdrops to Watch For the Third Week of March               

Three projects are launching enticing crypto airdrops this week, offering investors a chance to get in on the ground floor without any initial financial investment.

Airdrop farmers can capitalize on the following participation opportunities with renowned investors backing these three projects.

Chaos Labs

Chaos Labs is a blockchain risk management and optimization platform. It is one of the key players in DeFi protocol security and has raised $79 million across two funding rounds. Key backers include Galaxy, Coinbase Ventures, and HashKey Capital.

According to data on Cryptorank.io, Chaos Labs confirmed its airdrop. It offers participants a chance to join its whitelist while the project is still on the ground floor. While the reward date is pending, Chaos Labs announced a new AI model built for the crypto community. Users can already sign up on the waitlist and get early access to the product.

“Built on years of proprietary data from securing trillions in trading volume, Chaos AI transforms fragmented market data into institutional-grade financial intelligence,” Chaos Labs shared.

Airdrop farmers should focus on interacting with Chaos Labs’ tools, such as its risk dashboards or simulation platforms, if accessible via testnets or partnerships. Joining their Discord or Twitter communities is critical to staying updated on whitelist opportunities or tasks, considering social engagement is often a prerequisite.

Given its $20 million seed round in 2023 led by Galaxy Digital, Chaos Labs might retroactively reward users of supported protocols like Aave or Uniswap. Farmers should diversify activity across these ecosystems, track announcements, and be cautious of scams—only official channels should be trusted for task details.

Monad

Monad, an EVM-compatible Layer-1 (L1) blockchain, launched its testnet on February 19, 2025. It is a hot prospect for crypto airdrop farmers. With $244 million raised from Paradigm and others, Monad’s anticipated mainnet (potentially Q1 2025) could include a token drop for early adopters.

Farmers must join the Monad Discord, as securing the “Full Access” role earns 5 MON test tokens. Meanwhile, holding 0.01 ETH on the Ethereum mainnet nets two tokens. Testnet participation, like minting NFTs on monadverse.land (200,000 supply) or completing tasks on layer3.xyz is key.

Users should also regularly check Magic Eden’s Monad testnet for new mints and use Talentum.id (code NS12G) for ecosystem tasks. Activity level determines rewards, so consistent engagement is essential. Farmers should monitor official updates for mainnet and token launch timelines, as early participation often correlates with bigger airdrops. Wallet setups such as Metamask and testnet activity tracking are imperative.

“Also pay attention to these projects from the Monad ecosystem, which we added in a separate guide: Kintsu, Magma, and FastLane,” Cryptorank.io highlighted.

Voltix

Voltix is a Solana-based project that leverages idle CPU power for AI and DePIN (decentralized physical infrastructure networks). After raising $10 million from BLCK Labs, the project confirmed a VOLT token airdrop.

For farmers, the focus is on earning points via the Voltix browser extension before the Token Generation Event (TGE) date. Install the extension, contribute computing resources, and complete social tasks to rack up points, which are convertible to VOLT at TGE.

More CPU uptime and better hardware boost rewards mean running Voltix on multiple devices can help maximize gains. Farmers should log into the Voltix dashboard regularly for new tasks and join community channels for bonus opportunities.

The airdrop favors early adopters, so starting early is critical. No exact distribution timeline exists yet, meaning vigilance on official Voltix announcements is necessary.

Airdrop farmers should act swiftly, diversify efforts, and stay informed via official sources to capitalize on these opportunities. Nevertheless, they must also conduct their research.

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Plume Network Lands YZi Labs’ Investment Amid Unprecedented RWA Growth

YZi Labs (formerly Binance Labs) has announced its investment in Plume Network (PLUME). It is a fully integrated modular blockchain designed for the rapid adoption and integration of real-world assets (RWAs).

The investment marks a significant step in advancing blockchain infrastructure that seamlessly bridges traditional finance with decentralized finance (DeFi), further expanding the Real World Asset Finance (RWAfi) ecosystem.

YZi Labs Backs Plume Network to Grow RWAfi Ecosystem

In a press release shared with BeInCrypto, YZi Labs’ Investment Director Max Coniglio emphasized the strategic importance of the investment. He highlighted Plume’s potential to revolutionize RWA adoption.

“At YZi Labs, we invest in projects that harness blockchain technology to create real-world impact and Plume is a prime example—they are bringing real-world assets on-chain to unlock new capital, expand access, and drive adoption. By making RWAs as seamless as any other digital asset, Plume is bridging traditional finance and DeFi, paving the way for broader adoption,” Coniglio told BeInCrypto.

Notably, Plume Network provides an Ethereum Virtual Machine (EVM)-compatible environment that facilitates onboarding a wide range of assets. These include financial instruments, carbon credits, GPUs, and collectibles. Additionally, it seamlessly integrates these assets into a composable RWAfi ecosystem, enhancing their utility and enabling broader financial interactions.

Through its composable ecosystem, Plume enables users to earn rewards, trade, borrow, lend, swap, and engage in market speculation. By integrating real-world assets on-chain, Plume ensures they are as accessible and user-friendly as traditional crypto tokens.

Meanwhile, Chris Yin, co-founder and CEO of Plume, stressed that the platform aims to address the longstanding infrastructure gap that has hindered the widespread adoption of RWAs in the crypto space. 

“Although stablecoins, the original RWA, have successfully proven to onboard new users into crypto, the rest of RWAs have struggled to achieve the same traction. With Plume, asset issuers of all kinds can become Web3 builders, seamlessly connecting to our community, ecosystem, and liquidity,” Yin said.

YZi Labs’ investment comes at a time when RWAs have emerged as one of the fastest-growing sectors in crypto. According to the data from DefiLlama, RWA’s total value locked (TVL) reached an all-time high of $9.9 billion last week.

Moreover, the RWA sector has emerged as the best-performing category over the past year, surging by an impressive 237.2%. 

RWA Sector Performance. Source: Artemis

In contrast, the broader crypto market has experienced mixed results, with some sectors suffering deep losses. While Bitcoin (BTC) has gained 22.2% and privacy coins have risen by 28.2%, their growth pales in comparison to the explosive rise of real-world assets. Meanwhile, Ethereum (ETH) has dropped by 47.7%, and the decentralized finance (DeFi) sector has struggled even more with a 55.8% decline.

Despite its strong yearly performance, the RWA has faced a recent pullback. Month-to-date (MTD) sector performance data shows a -12.1% decline, suggesting a correction following its rapid growth. Bitcoin and Ethereum also posted losses, indicating a broader market downturn rather than an RWA-specific issue.

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MicroStrategy Buys $10.7 Million in Bitcoin, Its Smallest Purchase of 2025

Michael Saylor’s Strategy (formerly MicroStrategy) added 130 Bitcoin (BTC) to its holdings between March 10 and March 16, spending approximately $10.7 million. 

The average BTC price for this purchase was $82,981. This marks the company’s smallest Bitcoin purchase since August 2024.

Why are MicroStrategy’s Bitcoin Purchases Becoming Smaller?

As of March 16, MicroStrategy holds 499,226 BTC, worth around $33.1 billion. The company’s overall average cost per Bitcoin stands at approximately $66,000.

This latest acquisition comes just weeks after MicroStrategy made its largest Bitcoin purchase of 2025. In February, the company spent $2 billion on BTC at prices above $97,000. 

Now, with Bitcoin trading lower, this smaller buy raises questions about the firm’s strategy.

“On-chain clues: Is Bitcoin gearing up for a major reversal? Active addresses peak, signaling potential bullish momentum ahead,” Saylor posted on X (formerly Twitter) today. 

One possible reason for the limited purchase is that MicroStrategy may be waiting for more capital from its stock offerings. 

Last month, the company raised $2 billion through a private offering of convertible senior notes. Most of those funds likely went toward its previous acquisition. If additional funding is needed, the company may be pacing its purchases.

MicroStrategy finances Bitcoin acquisitions through stock sales and zero-interest convertible notes without selling off other assets. 

While this approach has worked so far, the firm’s ability to raise capital depends on maintaining strong financial stability. A sharp rise in liabilities relative to assets could make future financing more difficult.

microstrategy bitcoin holdings
MicroStrategy Bitcoin Holdings Over Time. Source: Bitcoin Treasuries

However, there’s a more concerning reason why MicroStrategy could have made such a small Bitcoin purchase today. 

Bitcoin is currently trading just below $83,000, and some analysts suggest the price has not yet bottomed. Arthur Hayes and other experts predict BTC could drop to around $70,000 before the next upward move.

BeinCrypto analysts believe the market is experiencing a temporary correction rather than the end of the bullish phase. 

If MicroStrategy shares this view, it may be waiting for a further dip before making a larger investment.

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Crypto Outflows Surge to $1.7 Billion as Bitcoin Bears the Brunt of Withdrawals

The crypto market continues to face a sustained period of capital flight. According to the latest CoinShares report, digital asset investment products experienced a fifth week of outflows.

It comes amid continued bearish sentiment, with Bitcoin (BTC) bearing the worst as seen in its price, which remains well below the $90,000 threshold.

Crypto Outflows Surge to Nearly $1.7 Billion

The report indicates that total crypto outflows reached $1.687 billion, bringing cumulative losses over this negative streak to $6.4 billion. This also marks the 17th straight day of outflows, the longest unbroken period of capital withdrawals since 2015.

Despite the sustained downturn, year-to-date (YTD) inflows remain positive at $912 million. However, the latest market correction and consistent investor withdrawals have resulted in a $48 billion decline in total assets under management (AuM) across digital asset investment products.

Per the report, the US remains the epicenter of the ongoing crypto outflows, accounting for $1.16 billion in outflows. This represents approximately 93% of all outflows during this negative streak. In contrast, Germany experienced a modest inflow of $8 million, indicating regional variations in investor sentiment.

Bitcoin continues to withstand the worst of investor withdrawals, with an additional $978 million in outflows over the past week, bringing its five-week total to $5.4 billion. Meanwhile, short-Bitcoin positions also saw $3.6 million in outflows, indicating a general decrease in bearish bets against the pioneer crypto.

Crypto Outflows Last Week
Crypto Outflows Last Week. Source: CoinShares Report

While most digital assets have declined, XRP continues to attract investment. It recorded an additional $1.8 million in inflows, standing out as one of the few assets seeing positive momentum.

This optimism likely draws from abounding hope of an imminent conclusion to the longstanding legal battle between Ripple and the US SEC (Securities and Exchange Commission). There is also hope that the SEC may reclassify XRP as a commodity.

One of the most striking developments during this market downturn was the Binance exchange’s near wipeout of assets under management. A key seed investor’s exit drained almost all of Binance’s AuM, leaving the exchange with just $15 million in remaining AuM.

Meanwhile, this sustained sell-off follows a weeks-long pattern of negative sentiment. The previous week, crypto outflows hit $876 million, with US investors leading the charge in market liquidations.

Before that, outflows had already neared $3 billion, driven by weak investor sentiment and rising market fears.

The persistent crypto outflows and declining AuM figures suggest that confidence in the crypto sector is yet to recover. However, pockets of resilience—such as XRP’s inflows and minor gains in Germany, indicate that investor appetite has not vanished entirely.

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3 Altcoins to Watch in the Third Week of March 2025

The crypto market’s volatility has left altcoins in limbo, uncertain about potential gains or losses, and heavily reliant on external factors. These influences could determine whether a recovery rally occurs.  

BeInCrypto has analyzed three key altcoins for investors to watch in the third week of March and what direction they could take.

Solana (SOL)

Solana’s price is currently at $129, positioning itself for a potential bullish breakout. On March 17, the Chicago Mercantile Exchange (CME) will launch SOL Futures, a significant event for the altcoin. As CME is one of the largest derivatives exchanges globally, this could drive substantial institutional inflows into Solana.  

This development could inject bullish momentum into SOL, pushing the altcoin higher. The critical resistance level to watch is $161, which would require a 24% price surge. However, for this rally to materialize, SOL must first breach the $135 and $148 resistance levels, paving the way for continued gains.  

Solana Price Analysis.
Solana Price Analysis. Source: TradingView

If Solana fails to break through either $135 or $148, its price could retrace. A drop below these levels could send SOL back to $126 or lower to $118. This scenario would invalidate the bullish outlook, delaying any potential recovery and exposing the altcoin to further downside risk.

Mantle (MNT)

MNT price has surged 25% over the past week as anticipation builds for Mantle’s upcoming network upgrade. On March 19, the Mantle Network Mainnet will undergo a hard fork upgrade, activating EigenDA and ensuring compatibility with Ethereum’s future Pectra upgrade. This event is driving strong bullish sentiment for MNT.

In response to the upgrade, MNT is expected to see further gains, potentially reaching $1.00. Currently trading at $0.83, the altcoin needs to breach the $0.87 and $0.94 resistance levels to sustain its rally. A successful breakout above these levels could confirm the bullish trend.

MNT Price Analysis.
MNT Price Analysis. Source: TradingView

However, failure to surpass $0.87 could keep MNT stuck in consolidation. If the altcoin loses support at $0.79, it risks falling further to $0.71. A drop to this level would invalidate the bullish outlook and shift market sentiment toward a bearish trend.

BNB 

Another altcoin to watch in March, BNB’s price surged 19.5% this week, reaching $635 at the time of writing. The altcoin successfully broke through the key resistance block between $587 and $619. With bullish momentum building, BNB appears poised for further gains, provided market conditions remain favorable in the coming days.

One major catalyst is the upcoming Pascal hard fork on March 20. The upgrade will introduce EIP-7702 smart contract wallets, enhanced Ethereum Virtual Machine (EVM) compatibility, and improved developer flexibility. These enhancements could drive investor confidence, pushing BNB above $647 and potentially toward the $686 mark.

BNB Price Analysis.
BNB Price Analysis. Source: TradingView

However, if the anticipated rally fails to gain traction, BNB could retreat to $619. Losing this support level may trigger further declines, sending the altcoin back through the resistance block and potentially testing the $550 support level, which would invalidate the bullish outlook.

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POPCAT Price Struggles to Recover from 48% Drop; Could Robinhood Listing Trigger a Rally?

POPCAT has faced significant challenges since the beginning of February, as attempts at recovery have failed to materialize. Despite some price rallies, the meme coin has struggled to regain its losses, with a 48% drop weighing heavily on its performance. 

While the altcoin is still attempting a recovery, a lack of strong support and market optimism is causing delays in any significant rebound. But the meme coin did have a key bullish moment this week.

POPCAT Needs Investors’ Backing

The Chaikin Money Flow (CMF) indicator has remained stuck below the zero line for the past three and a half months. This suggests that inflows into POPCAT have been weak since early December 2024, with little buying interest. The lack of conviction due to fear of losses from investors has contributed to a lack of momentum, keeping the meme coin from experiencing a recovery.

The weak CMF reading signals that investors are not pouring money into POPCAT, which is preventing a meaningful price increase. This has led to the coin’s struggle to maintain any positive price action, further delaying the recovery. 

POPCAT CMF
POPCAT CMF. Source: TradingView

Technical indicators such as the Relative Strength Index (RSI) also reflect POPCAT’s struggle to find sustained momentum. The RSI has remained below the neutral line of 50.0 for the past three months, indicating weak bullish signals. This reinforces the notion that broader market cues are not supporting a strong recovery for the meme coin.

Without support from the broader market, POPCAT has found it difficult to break out of its current downtrend. Until the market improves, POPCAT is unlikely to break its bearish cycle.

POPCAT RSI
POPCAT RSI. Source: TradingView

POPCAT Price Is Likely Consolidating

Over the last four days, POPCAT has rallied nearly 20%, currently trading at $0.180. A key catalyst was Robinhood’s POPCAT listing on Thursday, which is expected to drive more investment into the asset and expose it to more investors.

The altcoin has bounced off the support level of $0.140 and is now under the resistance of $0.203. While this recent recovery is encouraging, it will face significant challenges in breaching the $0.203 barrier.

Given the weak market conditions and investor sentiment, POPCAT could struggle to break through the $0.203 resistance. It is more likely that the altcoin will consolidate within the range of $0.140 to $0.203, at least until stronger market cues emerge. This could delay any potential recovery further.

POPCAT Price Analysis.
POPCAT Price Analysis. Source: TradingView

However, if market conditions and investor behavior improve, POPCAT may push past the $0.203 resistance. A successful breach of this level could see the altcoin test $0.238, invalidating the current bearish outlook. This would signal a shift in market sentiment and possibly set the stage for a more sustained recovery.

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Hoodi Testnet to Test Ethereum’s Pectra Upgrade Before Mainnet Launch

Ethereum will launch the Hoodi testnet on March 17, addressing Pectra testing issues encountered on the Holesky and Sepolia testnets.

This move comes as developers work to troubleshoot bugs that could potentially delay the Sepolia fork.

Ethereum Unveils Hoodi Testnet for Pectra Testing

The Ethereum network has been working on the Pectra upgrade to introduce key Ethereum Improvement Proposals (EIPs). These proposals will enhance staking mechanisms and improve the wallet user experience.

However, Ethereum conducts tests in the run-up to its various EIPs. These probes ensure seamless upgrades and mainnet launches, citing methodical testing strategies.

The Sepolia testnet upgraded to Pectra just a week ago, marking a significant milestone in the development process. Additionally, Ethereum launched the Mekong testnet in early November to preview Pectra fork updates. This allowed developers to evaluate its features ahead of broader implementation.

However, in a February 25 post, Christine Kim, a researcher at Galaxy, highlighted the challenges faced in the testing phase of Ethereum’s Pectra Upgrade.

“Pectra is live on Holesky…Seeing a slight uptick in missed blocks but the network participation rate looks strong…some client teams are reporting issues with invalid blocks in the Eth R&D discord… lots more missed blocks and the network isn’t finalizing…Devs are troubleshooting what the issues are. Depending on the scale of the bugs, devs could delay the Sepolia fork… network is still not finalizing, the participation rate has dropped to ~50%,” Kim explained.

To establish whether these creases have been ironed out, Ethereum will launch the Hoodi testnet on Monday, March 17. If testing on Hoodi proves successful, the Pectra upgrade could go live on Ethereum’s mainnet by late April. However, according to Tim Beiko, a key Ethereum developer, delays extending into May remain possible.

“A new testnet, Hoodi, is going live Monday to wrap up Pectra testing. If you need to test validator exits, be on the lookout for it! Everything else can be tested on Sepolia & Holesky. Pectra will be scheduled 30+ days after Hoodi forks successfully, pending infra and client testing. Fusaka planning will run in parallel, with a deadline of March 24 to propose EIPs, and a tentative date of April 10 for a scope freeze,” Beiko articulated.  

Ethereum’s Pectra Upgrade timeline
Ethereum’s Pectra Upgrade timeline. Source: Tim Beiko on X

This means that the Ethereum Pectra Upgrade is contingent on successful testing on Hoodi after previous testnets. With the Hoodi testnet slated for March 17 and Pectra Upgrade at least 30 days thereafter, the update could go live as soon as April 17 or later. Some users expressed dissatisfaction with this delay.

“Pectra delayed by a month. Core devs really can’t ship anything in time,” one user remarked.

Nevertheless, others seemed unsurprised by the timeline, an understanding that likely appreciates the rigorousness of delivering seamless mainnet launches. The launch of the Hoodi testnet next week represents a crucial step in ensuring the stability and effectiveness of the Pectra upgrade.

With developer scrutiny intensifying and planned improvements in staking and user experience, Ethereum’s roadmap focuses on long-term scalability and security enhancements for its network.

“I’m stoked this could make ETH even sharper and more efficient,” a user on X remarked.

Fusaka, the next major upgrade, will follow in 2026. While details remain scarce, Fusaka promises to refine Ethereum’s scalability and efficiency further. This will advance the network’s evolution toward greater usability and adoption.

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Ripple’s RLUSD Can Be Frozen to Comply with GENIUS Act, Confirms CTO

Ripple’s Chief Technology Officer, David Schwartz, has confirmed that the Ripple USD (RLUSD) stablecoin can be temporarily halted or reversed to comply with legal or regulatory requirements.

Schwartz’s statement comes after Senator Bill Hagerty updated the GENIUS Act. The bill requires stablecoin issuers to implement technology that allows freezing, seizing, or stopping transfers when legally mandated.

Ripple Technology Enables Freezing of RLUSD Stablecoin

The Guiding and Establishing National Innovation for US Stablecoins (GENIUS) Act was introduced on February 4. On March 10, Senator Hagerty unveiled an amended version of the bill, which included several key changes. The bill,

“Requires the permitted payment stablecoin issuer to seize, freeze, burn, or prevent the transfer of payment stablecoins issued by the permitted payment stablecoin issuer.”

Attorney Jeremy Hogan took to social media platform X (formerly Twitter) to question the bill’s practical implications. He particularly stressed the technological capabilities required for stablecoin issuers to implement the proposed rule.

“So, can Ripple or Circle actually freeze RLUSD or USDC once it’s transferred? I didn’t think that was possible for either,” Hogan posted.

In response, Schwartz confirmed that this is indeed possible. 

“RLUSD can be frozen or clawed back,” he answered

Schwartz clarified that this functionality is essential to ensure that the balances on the ledger remain aligned with the legal obligations of the issuer. Since off-ledger events, like court orders, can change or nullify those obligations, it’s important for issuers to have the ability to update the ledger as needed.

It should be noted that in January, the XRP Ledger (XRPL) activated the clawback amendment. This followed a 90% vote from its community. 

This change allows token issuers to retrieve tokens from wallets that have been deposited into Automated Market Maker (AMM) pools. This, in turn, helps maintain adherence to regulatory requirements. Given that RLUSD is natively issued on both the XRP Ledger and Ethereum (ETH) blockchains, the clawback functionality applies to it as well.

The bill also stipulates federal oversight for stablecoin issuers with market values exceeding $10 billion. At present, only Tether (USDT) and USD Coin (USDC) meet this threshold. 

Meanwhile, RLUSD is a relatively new stablecoin. Ripple launched it on December 17, 2024. In addition, BeInCrypto data shows that it currently has a market capitalization of 135.1 million.

Therefore, as per the act, it will remain under state regulation. However, the state should also follow a framework comparable to federal standards.

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