Ethereum’s perpetual futures trading volume share hit a historic high of 67% over the past week. In other words, two-thirds of all crypto perpetual futures trading involved Ethereum.
This indicates that crypto investors are unusually favoring high-risk investments, even amid a market downtrend caused mainly by concerns over rising US inflation.
BTC-ETH Open Interest is Very Close
Glassnode released its weekly report, “A Derivatives-Led Market,” on Wednesday. It explained that while Bitcoin’s price recently hit a new all-time high before correcting, the crypto derivatives market primarily drove the market’s direction.
Despite the correction, Glassnode pointed out that market participants still consider this a bull market, which is reflected in the rising open interest dominance of ETH, a key “bellweather asset“
As of Thursday morning UTC, the spot dominance gap between Bitcoin (59.42%) and Ethereum (13.62%) is about fourfold. However, the open interest dominance is much closer, with Bitcoin at 56.7% and Ethereum at 43.3%. This suggests that leveraged investors are showing significantly greater interest in ETH.
This trend is even more pronounced in trading volume. Ethereum’s perpetual futures trading volume share has reached an all-time high of 67%.
BTC vs ETH Perpetual Futures Volume Dominance(7 EMA). Source: Glassnode
Glassnode explained that these figures highlight the high level of investor interest in the altcoin sector and indicate that investors are now willing to take on greater investment risk.
So, could the price of ETH rise further and serve as a stepping stone to an “altcoin season”? Ultimately, the key appears to lie in the attitudes and interest rate decisions of the US Federal Reserve (Fed) officials.
One of the main reasons for the recent crypto price correction is the uncertainty surrounding the Fed’s interest rate cuts due to renewed US inflation. If Fed Chair Jerome Powell’s speech at the Jackson Hole meeting on Friday signals a move toward interest rate cuts, ETH is expected to rise much faster than BTC.
Dogecoin (DOGE) price has recently struggled with momentum, failing to break key resistance levels. As of press time, DOGE is holding at $0.169, just above the crucial support of $0.164.
This stagnation hints at the potential for further declines, but key investors are still holding strong.
Dogecoin Is Facing Challenges
The liquidation map reveals that approximately $216 million worth of long positions could face liquidation if Dogecoin’s price declines to $0.150. This price is not far from its current critical support of $0.164.
If DOGE drops below this level, the liquidation of long contracts could fuel a further sell-off, pushing the price lower. This would likely prompt more bearish sentiment among traders, discouraging new investments in the meme coin.
Moreover, the threat of liquidation looms large as the price hovers near critical support levels. If DOGE continues to weaken, traders may be more inclined to exit positions, exacerbating the downtrend.
On the other hand, Dogecoin’s long-term holders (LTHs) seem to be focused on accumulating the asset at its current low price.
The HODLer net position change shows an increasing number of LTHs who are confident in eventual price recovery. As DOGE remains relatively inexpensive, these investors view the current conditions as a potential opportunity for future gains.
This accumulation by LTHs could serve as a buffer against further price declines. Their confidence in Dogecoin’s recovery and long-term potential is helping to sustain the current price levels. If these holders continue to accumulate, it could prevent a drastic drop and even pave the way for a future price rebound.
Dogecoin HODLer Net Position Change. Source: Glassnode
DOGE Price Correction Unlikely
At the time of writing, Dogecoin is trading at $0.169, just above the critical support of $0.164. The altcoin has been unable to break the $0.176 resistance for several days, showing signs of stagnation.
The likely outcome is continued consolidation above $0.164 as investors await a potential catalyst for upward movement.
If Dogecoin manages to breach the $0.176 resistance, it could quickly rise to $0.198, marking a positive shift in sentiment. This would likely encourage more buying activity and help push the price higher.
However, without sufficient momentum, DOGE will remain trapped within its current range, potentially facing further consolidation.
If the price falls below $0.164, it could slip to $0.147 in the coming days, triggering more than $216 million in long liquidations. This scenario would signal a shift toward bearish momentum, invalidating Dogecoin’s bullish outlook.
The coming days will be crucial in determining whether DOGE can recover or continue its decline.
The state of security across the crypto and blockchain space has changed significantly in the past few months. Traditional smart contracts exploited or brute force attacks on blockchain networks are being superseded by crypto scams like rug pulls and pump-and-dump schemes.
BeInCrypto spoke with a spokesperson from security firm CertiK to understand how blockchain and security threats are evolving and how projects and users can safeguard against future exploits.
Social Media Hacks on the Rise
Over the past few months, the crypto community has seen a rise in social media-related hacks. This increasingly common tendency has pivoted away from the orchestration of more sophisticated blockchain attacks that have traditionally plagued headlines.
Whereas smart contract exploits or blockchain hacks require more knowledge, hackers have found an easier avenue by targeting social media accounts instead.
X (formerly Twitter) has quickly become the social media platform of choice among Web3 hackers.
Social Media is Now a Prime Target for Web3 Hackers
After US President Donald Trump launched his meme coin only two days before assuming office, hackers began to take advantage of the hype to hack high-profile X accounts and convince followers to invest in scam meme coins.
Last month, anonymous hackers took over the X account of the former Malaysian Prime Minister Mahathir Mohamad to promote MALAYSIA, a fake meme coin promoted as the country’s official cryptocurrency.
The post was removed within an hour, but the damage was done. Analysis shows that these hackers were probably related to the infamous Russian Evil Corp and that they stole $1.7 million in this rug pull.
The MALAYSIA token scam happened only two weeks after hackers exploited former Brazilian President Jair Bolsonaro’s social media account. In that instance, scammers promoted the BRAZIL token, which rose over 10,000% in minutes, netting the scammers over $1.3 million.
These scams have also affected technological companies.
Attacks on Tech Companies
In December, AI research and development company Anthropic also saw its X account hacked. A fraudulent post claimed that a fake token called CLAUDE would incentivize AI and crypto projects and included a wallet address for investors.
Attackers managed to collect around $100,000 from speculative investors.
These situations also highlight a broader issue of weak account security on social media platforms. As a result, even prominent individuals are susceptible to security breaches that directly affect the crypto community.
TRUMP Meme Coin Launch Was a Catalyst For Crypto Scams
“Now is the time to talk about the fact that large-scale political coins cross a further line: they are not just sources of fun, whose harm is at most contained to mistakes made by voluntary participants, they are vehicles for unlimited political bribery, including from foreign nation states,” Buterin claimed.
Buterin highlighted the tokens’ role in enabling scams and political corruption in crypto and blamed a regulatory loophole former SEC Chair Gary Gensler created for allowing bad actors to exploit governance tokens.
However, these crypto scams extend beyond political themes.
Growth of Social Engineering Exploits
A week after Buterin cautioned against political meme coins, a Coinbase user lost $11.5 million after falling victim to a social engineering scam on Base.
Crypto sleuth ZackXBT uncovered the exploit, pointing out that this incident is part of a growing trend, with multiple Coinbase users suffering similar losses. He also estimates that crypto scams of this nature have drained at least $150 million from Coinbase customers.
“Coinbase has a serious fraud problem. I just uncovered many more recent thefts from Coinbase users. The $150 million stolen from Coinbase users in a year is just from thefts I independently confirmed. So it’s more than likely multiples of this number,” ZachXBT stated.
In social engineering scams, attackers use phishing emails, spoofed calls, and other deceptive tactics to trick victims into revealing private keys or login credentials. Once they gain access, they drain wallets, move funds, and take control of accounts.
For CertiK, these situations stipulate the need for stronger security measures.
Addressing these security challenges is crucial as new crypto projects increase exponentially.
Prioritizing Proactive Security in a Rapidly Growing Industry
The Web3 sector is experiencing consistent growth, marked by a surge in new crypto project launches. This innovative momentum is expected to continue, but it’s also fueling security concerns.
Notably, the increasing rate of scams and hacks in the first three months of 2025 makes it clear that security efforts are struggling to keep up with innovation.
A study by Precedence Research estimates the Web 3.0 market will expand from USD 4.62 billion in 2025 to approximately USD 99.75 billion by 2034, with a projected compound annual growth rate (CAGR) of 41.18% during that period.
Predicted market size of Web3 in the next ten years. Source: Precedence Research.
Yet, CertiK believes that project developers are pushing security considerations toward the end of the priority list.
As the Web3 ecosystem evolves, a proactive and adaptive security approach is critical. Prioritizing both blockchain integrity and social media vigilance will be essential for safeguarding the growing Web3 ecosystem.
The battle against these exploits requires a future where security is not an afterthought but a foundational pillar of every Web3 project and user interaction.
Bitcoin is rebounding after tariff chaos, and public companies like Metaplanet are conducting major acquisitions. The firm bought $28.2 million worth of the asset, nearly a $2 million increase from last week.
However, despite this new confidence, Metaplanet’s stock has continued to perform shakily. The crypto market is showing cautious optimism, but that won’t immediately translate into major gains.
Bitcoin Rebounds as Metaplanet Increases Purchase Size
“Metaplanet has acquired 330 BTC for ~$28.2 million at ~$85,605 per bitcoin and has achieved BTC Yield of 119.3% YTD 2025. As of 4/21/2025, we hold 4855 $BTC acquired for ~$414.5 million at ~$85,386 per bitcoin,” he claimed.
Still, markets are showing cautious optimism, not a full rally. A quick look at some major crypto-related stocks will paint a clearer picture.
MicroStrategy rose over 4% in the last five days and nearly 6% in the last month, but it’s a pillar of confidence in BTC. Metaplanet, a much smaller Bitcoin holder, only fell 1.89% in the last five days but over 20% in the last 30.
In other words, it can be difficult to cleanly connect Bitcoin’s recent successes with major holders like Metaplanet. Compare two prominent US-based crypto miners, Marathon and Riot.
The former recovered from its slump in early April, while the latter only continued to drop. Coinbase, too, has only made brief rallies on a trend of continual decline.
While Bitcoin’s adoption has surged dramatically over the past year, there’s still a lot of uncertainty about tariffs and recession. Metaplanet may be in shaky territory right now, but its confidence in Bitcoin can provide a long-term sense of stability.
