Category: News

Dego Finance (DEGO) price took to a free fall amid community FUD (fear, uncertainty, and doubt) following an announcement on Wednesday, June 4.

The announcement involved USD1 stablecoin, launched by the Trump family’s World Liberty Financial.

DEGO Price Drops 60%: What Caused The Crash?

The DEGO price, the native token of Dego Finance, dropped nearly 60% following the project’s announcement that it would support USD1, a stablecoin by World Liberty Financial (WLFI), as part of a new liquidity initiative on the BNB Chain.

“We’re officially purchasing $USD1 World Liberty Financial as a liquidity reserve and supporting the liquidity program launched by World Liberty Financial (WLFI) on BNB Chain. This move reflects our commitment to building a stronger DeFi ecosystem — and exploring deeper collaborations with USD1 as we assemble the decentralized LEGO of Web3,” read the announcement.

The team framed the move as a strategic step to strengthen DeFi infrastructure. Notwithstanding, the market reaction was swift and brutal.

DEGO’s price collapsed, and the Relative Strength Index (RSI), a momentum indicator, dropped to oversold territory.

This drop suggests fear and confusion among holders. Some community members supported the rationale behind the decision, but acknowledged why the move was concerning.

“Team adding liquidity of DEGO on USD1 allows users to trade DEGO with a stablecoin, improving market access and price stability… by chance this liquidity creates FUD,” one user noted.

In crypto, adding liquidity typically means providing a pool of assets, such as DEGO paired with USD1 to a decentralized exchange (DEX) to facilitate trading.

This should make it easier for users to buy and sell DEGO without relying solely on other volatile cryptos, potentially stabilizing its price. However, several factors likely contributed to the FUD.

Among them is that more than half of USD1’s liquidity on PancakeSwap DEX comes from just three wallets, raising questions about “real demand.” BeInCrypto reported that three wallets hold 93% of its market cap.

If USD1 itself lacks organic usage and is propped up by a few large players (likely market makers or the team behind it), this could create skepticism among DEGO investors.

Therefore, investors might worry that the liquidity pool for DEGO/USD1 is artificial or manipulated. Such concerns could lead to uncertainty about the true value of DEGO.

The market perceives that USD1 is not widely adopted or trusted, making pairing DEGO with it a risky or questionable move, hence the FUD.

Dego Finance Assures Community Amid Panic

Against this backdrop, there are concerns that DEGO may be a scam project, highlighting growing distrust among certain retail investors.

Addressing community fears, Dego Finance released an official statement on Thursday, June 5, following a sharp selloff to calm investor nerves.

“We’re aware of the recent price volatility following the announcement on June 4th, which has understandably caused concern across the community. First and foremost, we want to emphasize: there have been no changes to DEGO’s fundamentals, tokenomics, or long-term vision,” Dego Finance explained.

The team attributed the price drop to short-term market sentiment rather than any underlying flaw in the project.

“The sell-off appears to be driven by short-term market reactions, and we are actively reviewing both on-chain data and external factors to ensure transparency,” the team explained.

Dego Finance committed to working closely with “key partners and exchanges to maintain stability.” The project also emphasized that its long-term mission remains intact: to build a resilient, decentralized incubator driving innovation in DeFi, AI, and Meme culture.

The company also promised upcoming updates and developments, urging the community to stay engaged as more information becomes available.

Meanwhile, it is worth noting that this is not the first time DEGO has suffered a steep price crash. In 2021, the token fell by 51% in just three minutes after being listed on Binance Launchpool. Reportedly, the cause of that drop remains unclear to this day.

The latest market reaction reflects a lingering fragility in investor confidence, with DEGO token trading for $1.26 as of this writing.

The post Dego Finance Crashes 60% as USD1 Liquidity Initiative Sparks FUD appeared first on BeInCrypto.

CAKE, the native token of decentralized exchange (DEX) PancakeSwap, is today’s top gainer, defying broader market trends.

The token has recorded a modest 3% gain over the past 24 hours, outperforming leading assets like Bitcoin (BTC) and Ethereum (ETH), which are both down by roughly 1% each during the same period. Technical indicators suggest that the rally could continue as it is backed by significant demand from market participants.

CAKE Climbs as Trading Volume Soars 88%

Amid the lull of the broader market over the past week, CAKE has managed to record gains. Currently trading at $2.48, the token has climbed by 9% since May 31.

This bullish trend continues today, evidenced by the trading volume surge accompanying CAKE’s price growth. The token’s trading volume is up 88% over the past day, pointing to heightened investor interest and growing demand for the DeFi asset.

When an asset’s trading volume rises alongside its price, it signals strong buying interest and confirms the strength of the upward price move. This combination suggests growing investor confidence in CAKE and hints that the upward trend may continue in the near term.

Moreover, readings from the altcoin’s BBTrend indicator support this bullish outlook. Observed on a one-day chart, the indicator is currently at 12.76, posting only green histogram bars since May 9. 

The BBTrend measures the strength and direction of a trend based on the expansion and contraction of Bollinger Bands. When it returns red bars (negative values), the asset’s price consistently closes near the lower Bollinger Band, reflecting sustained selling pressure and hinting at the potential for further downside.

Conversely, as with CAKE, when BBTrend values are positive, it typically signals a strong uptrend. At 12.76, the momentum indicator confirms increasing bullish pressure among CAKE holders, suggesting that the current rally may have further room to run.

Bullish Indicators Emerge for CAKE, But Will $2.81 Hold?

CAKE’s rising Relative Strength Index (RSI) lends credence to this bullish outlook. As of this writing, the indicator is at 54.75 and in an upward trend. 

The RSI indicator measures an asset’s overbought and oversold market conditions. It ranges between 0 and 100. Values above 70 suggest that the asset is overbought and due for a price decline, while values under 30 indicate that the asset is oversold and may witness a rebound.

CAKE’s current RSI setup shows a steady rise in token accumulation, a pattern that could drive further price growth. 

If current sentiment and volume levels persist, CAKE could extend its gains to $2.81 in the near term.

On the other hand, if demand falls, CAKE could fall below the support floor at $2.41 and drop toward $2.25.

The post PancakeSwap (CAKE) Leads Market Gains as Trading Volume Soars 88% appeared first on BeInCrypto.

The long-standing legal battle between the US Securities and Exchange Commission (SEC) and Ripple Labs could face another potential delay. 

This possibility looms as both parties have yet to refile their motion correctly, with the June 16 deadline quickly approaching.

Could the Ripple SEC Lawsuit Face a Delay?

On May 8, BeInCrypto reported that the SEC and Ripple jointly requested an indicative ruling from Judge Torres to approve a settlement that would reduce the penalty to $50 million and dissolve the injunction placed on Ripple. 

On May 15, Judge Analisa Torres rejected the parties’ request. She stated that if jurisdiction were returned to the court, she would deny the motion because it was procedurally improper. 

Essentially, the parties did not follow the correct legal process when requesting, which led to the denial. Therefore, it meant that both Ripple and the SEC needed to refile under the appropriate rule.

However, as of June 5, 2025, the parties haven’t refiled. This has raised concerns about the next steps in the case. Attorney Fred Rispoli highlighted the absence of a proper refiling in a recent post on X (formerly Twitter). 

He emphasized that on June 16, both parties must submit a status update to the United States Court of Appeals for the Second Circuit.

“20 days later, no refile yet by SEC and Ripple in district court, and the June 16 deadline for the status update in the 2nd Circuit looms large,” Rispoli posted.

The June 16 deadline holds significant weight, as it will determine the next steps in the case. Rispoli noted that if nothing is refiled, the Second Circuit will only have the denial of the first motion to work with. This could restart the briefing schedule. 

Alternatively, if a motion is pending before Judge Torres at the time of the status update, the Second Circuit will likely extend the process by an additional 60 days.

“The next step? The message by Torres was clear that both parties need to beg for forgiveness. Ripple will say whatever to get it done, but how much public groveling is the SEC willing to do? And how much groveling will be authorized? We have 12 days to find out,” Rispoli added.

Notably, as the deadline draws near, rumors have begun circulating that Ripple, the SEC, and Judge Torres may have already reached a settlement agreement. 

“Rumors swirling. Hearing SEC, Ripple & Judge Torres have finally reached an agreement. Word is Ripple came out on top,” a user stated.

The user added that an announcement could come as early as Friday, June 13. However, he cautioned that the news remains unverified. Additionally, the associated parties have not provided any official confirmation. 

Meanwhile, amid the uncertainty, XRP’s price has also taken a hit. BeInCrypto data showed that over the past week, the altcoin’s value has seen an 8.8% decline.

At the time of writing, XRP’s trading price was $2.19, representing a 2.36% drop over the past 24 hours.

The post Ripple and SEC Risk Restarting Critical Settlement Process if June 16 Deadline is Missed appeared first on BeInCrypto.

Livepeer’s native token, LPT, has seen an impressive surge. In June, it jumped 150% to a four-month high of $14.20.

However, the price has now dropped 40% from that recent peak.

Behind Livepeer’s Strong Comeback in June?

First, the rally gained momentum after LPT was listed on major platforms, including South Korea’s Upbit exchange and the decentralized exchange dYdX.

In addition, Grayscale included Livepeer in its newly created Crypto Artificial Intelligence (AI) sector. This inclusion signals recognition of Livepeer’s potential to disrupt traditional video infrastructure by integrating AI.

The listing news sent LPT’s daily trading volume soaring to over $4 billion on May 30—more than 10 times the previous average. This marked its highest daily volume so far this year.

At the time of writing, LPT’s trading volume still exceeds $1 billion. According to CoinMarketCap, it has surpassed Virtual Protocol to become the highest-volume AI token on the market, which indicates strong interest from traders.

However, LPT’s price has since dropped sharply, down 40% from its $14.30 peak to around $8.50. This suggests that the surge in volume, paired with the price drop, may reflect profit-taking activity.

It also implies that investor expectations could be short-term.

At press time, LPT was trading at $8.51, up over 10% in the past 24 hours.

Whales have taken advantage of increased liquidity and price gains to realize profits. On-chain data today shows that a whale withdrew 526,000 LPT (worth $4.81 million) from LPT’s PoS staking contract and transferred the funds to Binance.

Although selling pressure is mounting, some technical analysts believe the price could rebound from the $7 region.

“LPT eyes on this one, should hold the green zone for a potential bounce to yearly open 14.5$,” crypto analyst Muneeb predicted.

Livepeer Faces Challenges as AI Tokens Struggle to Recover

Livepeer has a clear mission: to revolutionize video infrastructure by leveraging AI. Its real-time video processing capabilities and a decentralized approach to GPU usage place it at the forefront of innovation.

Launched in 2021, Livepeer raised $51.8 million—well before the current AI boom. In 2025, the project is returning with renewed momentum, fueled by exchange listings and increasing attention from funds interested in AI technology.

“Livepeer is building the open video infrastructure for the AI era. Real-time AI video processing, decentralized GPUs, and a permissionless network powering new creative and technical frontiers,” the project states.

But this renewed spotlight also brings challenges. Despite the recent gains, LPT faces headwinds as the broader AI crypto sector has declined by over 45% year-to-date. This downturn highlights the volatile nature of the market and the risks associated with investing in AI-related cryptocurrencies.

Listing on exchanges and inclusion in key indices may bring short-term attention. However, Livepeer must overcome current market challenges and prove real-world use cases beyond the crypto ecosystem for sustainable growth.

The post AI Token Livepeer (LPT) Soars 150%, Then Drops 40% – What’s Driving the Volatility? appeared first on BeInCrypto.

Cardano (ADA) has recently experienced a significant decline, bringing the altcoin to near its monthly low. The potential end of its Golden Cross has raised concerns, as it could signal further bearish price action for the cryptocurrency. 

Despite these factors, long-term holders (LTHs) may help prevent a severe downturn by maintaining their positions.

Cardano Ends Its Golden Cross Short

The current market sentiment for Cardano points to the potential formation of a Death Cross. This happens when the 50-day exponential moving average (EMA) slips below the 200-day EMA. 

If confirmed, it will mark the end of the ongoing Golden Cross, which has only lasted for three weeks. This short-lived Golden Cross is even shorter than the previous Death Cross, which lasted for over a month.

The relatively brief Golden Cross has left traders with a sense of uncertainty. A reversal in trend may trigger more sell-offs, amplifying the downward momentum. Therefore, Cardano’s price is in a critical phase, with any further bearish developments likely causing a deeper correction.

On the macro level, the Mean Coin Age (MCA) shows signs of an uptick, indicating that long-term holders (LTHs) are holding steady instead of selling. This behavior is crucial for stabilizing Cardano’s price, as LTHs typically resist selling in the face of short-term volatility. Their commitment to holding ADA strengthens the support levels, which could cushion the impact of the bearish trends from the broader market.

The resilience of LTHs provides an important counterbalance to the negative signals emerging from technical indicators. As long as LTHs maintain their positions, it’s possible that Cardano can withstand some of the bearish pressure and limit the downside risk. 

ADA Price Could Bounce Back

Cardano’s current price is at $0.67, holding above the crucial support of $0.66. If the price fails to maintain this support, ADA could experience a further drop, possibly testing the $0.60 level. The loss of this key support could pave the way for additional losses, extending the ongoing downtrend.

The potential formation of the Death Cross would likely exacerbate the situation, bringing ADA to a month-and-a-half low. In such a scenario, the pressure on Cardano could intensify, making a recovery more difficult. Should the technical indicators align with broader market conditions, the risk of further declines increases significantly.

On the other hand, if Cardano price can hold above $0.66 and bounce back, a rise above $0.69 is possible. A successful breach of this level would position ADA for a push toward $0.74, potentially invalidating the bearish thesis. LTHs’ support and a reversal in the broader market could fuel this recovery.

The post Cardano Golden Cross Ends In Under A Month; Price Drop Ahead appeared first on BeInCrypto.

US President Donald Trump is reportedly launching a new crypto wallet in partnership with Magic Eden. Apparently, users will also be eligible to partake in a $1 million airdrop of TRUMP tokens.

There aren’t many specific details about this project available, but Magic Eden confirmed its involvement. Trump has a long-running interest in the NFT market, launching new ones last month, which could explain this choice.

Trump to Launch New Crypto Wallet

President Trump is currently engaged in several crypto ventures, recently holding a Gala Dinner and pledging to purchase huge amounts of Bitcoin.

Today, it seems like TRUMP will be at the center of his next venture, a new crypto wallet launched through a partnership with Magic Eden.

Share your referral link and you can move up on the waitlist and get $TRUMP REWARDS https://t.co/PVCQ6YXQ5v

— Magic Eden (@MagicEden) June 3, 2025

Magic Eden, a Solana-based NFT marketplace, might seem like an unusual choice for this partnership. A weakening NFT market has had a severe impact on its business, but the President has an interest in this sector.

Trump recently included NFT rewards in his Gala Dinner package, potentially explaining Magic Eden’s help making the wallet.

Unfortunately, we don’t have even the most basic information about the TRUMP wallet yet, including topics like KYC information, security, custody structure, etc. For now, interested users can join the waitlist in the hope of future developments.

The waitlist doesn’t have a clear end date, but it encourages users to buy TRUMP tokens. The meme coin has seen increased sell-offs since the dinner concluded a few weeks ago. Yet, today’s wallet announcement brought a brief spike.

All this may be bullish for TRUMP, but the President’s crypto-related business ventures are still quite controversial. Senators are investigating his various projects for possible foreign ties or other corruption, but his empire keeps growing regardless.

The latest crypto wallet will likely bring more political scrutiny, specifically from the Democrats. Yet, the US president seems committed to furthering his meme coin venture.

The post Donald Trump is Launching a Crypto Wallet with TRUMP Airdrop Rewards appeared first on BeInCrypto.

Recent breakthroughs in quantum computing have raised alarms for Bitcoin investors, prompting fears of a potential market collapse. But would a quantum computing leap actually send Bitcoin’s price spiraling to zero?

By mid-2025, the nearest realistic timeline to a threat remains 2030–2035. Around that time, we might see a wave of specialized machines, cloud services, and new operating-software layers. However, you won’t see desktop quantum machines any more than you see classical supercomputers in your living room.

The Quantum Threat to Bitcoin is Real – But Exaggerated

Quantum computing has advanced significantly by June 2025. Google’s new 105-qubit Willow processor and Microsoft’s Majorana 1 chip demonstrate significant progress towards stable quantum computing.

Yet, despite these leaps, quantum computers capable of cracking Bitcoin’s cryptography remain years away. 

Experts estimate that quantum systems must reach around 1,500 to 3,000 stable, error-corrected qubits to pose a direct threat to Bitcoin security.

Now, quantum computers work differently from today’s classical computers. They’re not just faster but can solve certain complex problems—like cryptographic puzzles—almost instantly. 

Concerningly, Bitcoin, like most cryptocurrencies, relies heavily on cryptography to secure transactions and wallets.

So, if a quantum breakthrough happened suddenly, Bitcoin addresses using older encryption methods would be instantly vulnerable. This also includes Satoshi Nakamoto’s dormant wallet with nearly 1.1 million BTC.

Approximately 25% of all Bitcoin resides in reused addresses. That would leave billions of dollars potentially exposed.

In the short term, this scenario would trigger panic selling. Extreme panic might even see Bitcoin’s price plummet by as much as 30% to 50% within days.

However, this wouldn’t necessarily mean Bitcoin hits zero. Developers would likely respond quickly by upgrading the network to quantum-resistant cryptographic standards. 

This emergency response could involve migrating to newer, secure addresses and implementing quantum-safe encryption methods. 

Decentralization is the Key Shield

Transitioning to quantum-resistant technology isn’t straightforward. It requires substantial coordination across miners, exchanges, and wallet providers. 

Still, Bitcoin’s decentralized nature gives it flexibility, enabling the community to swiftly roll out necessary updates.

Longer-term recovery depends on the crypto community’s agility. If successfully upgraded, Bitcoin’s value could stabilize and recover from initial shocks, preserving investor confidence.

So, quantum computing threats, though real, aren’t immediate. 

Most importantly, experts project a realistic quantum threat timeline around 2030–2035. It gives the crypto community crucial time to plan and implement protective measures.

In short, while a quantum computing breakthrough tomorrow would seriously disrupt Bitcoin’s market temporarily, it’s unlikely to wipe out its value completely. 

The post Will Bitcoin Price Drop to Zero If Quantum Breakthrough Happens Tomorrow? appeared first on BeInCrypto.

Pump.fun is preparing to launch its own token, with plans to raise as much as $1 billion in initial sales. According to some reports, the sale could value the project’s token at around $4 billion.

The token will be offered to both private and public investors. Reports suggest the sale could take place within the next two weeks, although no official date has been announced.

BeInCrypto earlier reported that the launch could take the form of either an airdrop or a Liquidity Bootstrapping Pool (LBP). Each option comes with trade-offs, but the project has not yet disclosed which route it will take.

Speculation around the launch intensified today after Bybit renamed a previously listed token. The token, originally called ‘PUMP’, was tied to PumpBTC, a liquid staking protocol for Babylon. 

Bybit changed the ticker to ‘PUMPBTC’, leaving ‘PUMP’ available.

This move triggered fresh discussion within the crypto community, with many pointing to a likely token launch by the Solana-based platform. That speculation has now been confirmed.

Pump.fun has not released further technical or tokenomic details yet. 

This is a developing story, and more information is expected in the coming days.

The post Pump.fun Confirms Plans for PUMP Token Launch Aiming to Raise $1 Billion appeared first on BeInCrypto.