Author: Yeek.io

Soneium, an Ethereum layer 2 chain, is quickly gaining traction in DeFi following its January launch. DefiLlama data shows that the total value locked (TVL) on Soneium’s two dozen decentralized applications (dapps) crossed $45 million on Monday.  The layer 2 chain is a product of Sony Block Solutions Labs, a joint venture between Sony Group and Web3 infrastructure provider Startale. The network launched in January following several months of successful testing, during which it handled over 15 million active users and 45 million transactions.  On Sunday, Soneium’s newly launched mainnet was used by a record 258,000 wallets, while the transaction…

Dogecoin’s key metrics have sharply declined, signaling weakening market momentum After a 13% drop in price over the past week, DOGE’s immediate future remains uncertain The Dogecoin [DOGE] network is facing a significant slowdown, with key metrics showing notable drops. These declines coincide with a 13% loss in value over the past week, raising concerns about its future. As network activity plummets to its lowest levels since October 2024, many are questioning whether this is a temporary setback or the start of a prolonged downturn for DOGE. The recent shift in market dynamics has left investors wondering what lies ahead…

Journalist Posted: February 24, 2025 Maker has a bearish swing structure on the weekly chart. The swift rise in active addresses and network growth might not be enough to sustain the price bounce. Maker [MKR] saw a 60% higher from the 16th of February, spurred by increased demand and a lower timeframe momentum shift. On the 20th of February, a series of posts on X (formerly Twitter) from Whale Alert showed that $156.77 million worth of MKR was burned from an unknown wallet in eight transactions. Source: Santiment Traders anticipated that this reduction in supply would increase the price of…

Bitcoin is holding above the crucial $95,700 level, a key demand zone that bears have repeatedly failed to break. This level has provided strong support, preventing further downside despite ongoing uncertainty in the market. However, investor sentiment is starting to shift as frustration grows over Bitcoin’s slow movement. Many expected a smoother bull run, yet BTC continues to consolidate within a tight range below the $100K mark. Market fatigue is evident as both bulls and bears struggle to gain control, leading to reduced volatility. Meanwhile, fresh data from CryptoQuant reveals that the Bitcoin Futures Estimated Leverage Ratio has shown only…

Este artículo también está disponible en español. Analysts are currently leaning towards a further breakdown in the Bitcoin price, as market volatility has positioned the pioneer cryptocurrency in a tight consolidation zone. Crypto expert Hamed_AZ on TradingView has shared a bullish and bearish outlook for the Bitcoin price. However, the analyst highlights that a crash of $85,000 is more likely.  According to Hames_AZ, the Bitcoin price is set to decline further, possibly reaching new lows at $85,000. The analyst revealed that the cryptocurrency continues to trade sideways, failing to break out of its present consolidation zone. Bitcoin Price Set To…

The largest financial hack in history could provide a silver lining for Ethereum’s price as Bybit announced a full recovery, Bitfinex analysts wrote. Hackers, believed to be the notorious North Korean group Lazarus, stole nearly $1.5 billion in Ethereum (ETH) and Ether derivatives from crypto exchange Bybit last week.  Ethereum’s price, which had shown tepid action before the hack, weakened further due to the Bybit breach and subsequent market volatility. Discussions about the hack’s impact flooded social platforms, but Bitfinex analysts believe Ether’s price could benefit from the incident. “If Bybit needs to replenish customer funds, they may be forced…

Popular analyst Borch Crypto has high hopes for XRP this cycle, but he says Solana layer 2 crypto Solaxy ($SOLX) could outperform. He anticipates XRP could hit $10 on the back of new ecosystem developments, marking over a 3x gain from its current price. However, the prominent trader anticipates a whopping 50x ROI for Solaxy. Solaxy is undergoing a presale where it has raised $22 million so far. The current $SOLX presale price is $0.001642, but this will rise throughout the ICO, with the next increase in under two days. Ecosystem developments give XRP 3x potential  XRP’s founding company, Ripple,…

Steven Pu, co-founder of layer-1 blockchain Taraxa, released a report on Feb. 24 highlighting a significant gap between claimed and actual blockchain performance. Analyzing 22 networks using data from Chainspect, the study found that theoretical transactions per second (TPS) are overstated by an average of 20 times compared to real-world results. According to the findings, this discrepancy stems from lab-based metrics that fail to hold up on live mainnets. The report introduces a new metric: TPS per dollar spent on a validator node (TPS/$), aiming to measure cost-efficiency rather than just raw speed. Across the 22 chains, theoretical TPS averaged…

Meme coins are facing a steep sell-off across the board as Bitcoin remains stable.Meme coins have taken a sharp hit in the past 24 hours, with Dogwifhat (WIF), Ai16z (AI16Z), and Bonk (BONK) leading the declines among the sector’s largest tokens, according to Coinmarketcap. However, Bitcoin (BTC) holds steady, down by just 0.63% and 0.93% on the daily and weekly timeframes respectively. This divergence highlights a common trend: Speculative assets like meme coins thrive on momentum and hype. When BTC is stable, trading volume and liquidity in meme coins often dry up, leading to price declines. Ai16z The Ai16z’s daily…

The distribution of FTT continues in the market as a death cross pattern surfaces. On the chart, a head and shoulders formation predicts a fall below $1 could be on the horizon. In the past week, FTT has seen a major decline of 12.39% as the bearish wave intensified. However, in the past 24 hours, the asset saw brief relief, climbing 1.60% to $1.89. A closer look into market structure shows this brief recovery could likely be a lower high before an intensified market fall takes place, leading to a massive price decline. Death cross forms as distribution heightens On…