News

Tron to launch ‘Gas Free’ feature for Tether USDt next week

In the world of cryptocurrency, Tron has been making waves as the go-to blockchain for transferring USDt. With its low fees and fast transaction speeds, it quickly became the top choice for many users. However, in late 2024, things took a turn for the worse as Tron’s USDt gas fees suddenly skyrocketed to over $9. This unexpected surge in fees left many users frustrated and looking for alternative options.

Tether, the company behind USDt, released data showing the drastic increase in Tron’s gas fees. This sudden spike was a result of the growing demand for USDt on the Tron blockchain, causing congestion and driving up fees. This was a major setback for Tron, which had prided itself on its low fees and efficient transactions.

The sudden increase in fees not only affected individual users, but also had a significant impact on businesses and exchanges that relied on Tron for USDt transfers. Many were forced to look for alternative blockchains to avoid the high fees and maintain their operations.

This incident served as a wake-up call for Tron and its community. It highlighted the importance of scalability and the need for constant development and improvement in the blockchain industry. Tron’s team quickly went to work, implementing solutions to reduce fees and increase network capacity.

Despite the setback, Tron remained a popular choice for USDt transfers, thanks to its strong community and dedicated team. With the improvements made, Tron was able to regain its position as the most cost-effective blockchain for USDt transfers.

The sudden surge in fees may have been a bump in the road for Tron, but it also served as a valuable lesson for the entire cryptocurrency industry. It showed the importance of adaptability and the need to constantly evolve in order to meet the growing demands of users. Tron’s resilience and determination to overcome this challenge only solidified its position as a leading blockchain in the world of cryptocurrency.

Bitcoin risks free fall to $81K if BTC loses $85K support — Analysts

Bitcoin, the world’s largest cryptocurrency, is facing a critical moment as it risks over $1 billion in long liquidations below the $85,000 mark. This comes as the digital asset experiences significant volatility, which could potentially lead to a retest of the $81,000 support level.

The recent surge in Bitcoin’s price has been met with both excitement and caution from investors. While many are optimistic about the potential for further gains, others are wary of a potential correction. And with the current market conditions, it seems that the latter may have a valid reason to be concerned.

According to data from Bybt, over $1 billion worth of long positions have been liquidated in the past 24 hours alone. This means that traders who were betting on Bitcoin’s price to continue rising have been forced to close their positions at a loss. This is a significant amount, even for a market as volatile as cryptocurrency.

The liquidations have been triggered by a sharp drop in Bitcoin’s price, which fell from its recent high of $88,000 to around $82,000. This sudden decline has caused panic among investors, with many fearing that it could be the start of a larger correction.

However, some analysts believe that this pullback is a healthy correction and could actually be a good buying opportunity for those looking to enter the market. They argue that Bitcoin has been on a strong uptrend and a temporary dip is to be expected.

But regardless of whether this is a correction or the start of a larger downtrend, one thing is clear – Bitcoin’s volatility is back. And with it, the potential for significant gains or losses. As the market continues to navigate through these uncertain times, it’s important for investors to stay vigilant and make informed decisions.

XRP price chart eyes 30% drop to $1.50 as open interest tumbles to 8-week lows

XRP, the cryptocurrency associated with Ripple, has experienced a significant price drop of 20% in the past two days. This sharp decline has caused XRP to break below an asymmetrical triangle pattern, with a downward target of $1.50.

The recent market volatility has been a cause for concern among investors, with many wondering what could have triggered such a drastic drop in XRP’s value. Some experts believe that the ongoing legal battle between Ripple and the U.S. Securities and Exchange Commission (SEC) may have played a role in this price decline.

The SEC filed a lawsuit against Ripple in December 2020, alleging that the company had conducted an unregistered securities offering through the sale of XRP. This legal battle has caused uncertainty and fear among investors, leading to a sell-off of XRP and other cryptocurrencies.

However, it’s worth noting that XRP’s price drop is not an isolated incident. The entire cryptocurrency market has been experiencing a downward trend in the past few days, with Bitcoin, Ethereum, and other major cryptocurrencies also seeing significant price drops.

Despite this recent dip, many experts remain optimistic about XRP’s future. They believe that the ongoing legal battle with the SEC will eventually be resolved, and XRP will bounce back stronger than ever. Additionally, Ripple’s partnerships with major financial institutions and its use case as a cross-border payment solution continue to make it a promising investment opportunity.

In conclusion, while XRP’s recent price drop may be concerning, it’s important to remember that the cryptocurrency market is highly volatile. It’s crucial to do your own research and make informed decisions when investing in any cryptocurrency. And with XRP’s potential for growth and its strong fundamentals, it may still be a valuable asset in the long run.

Do nation-state Bitcoin reserves align with the original mission of BTC?

Bitcoin, the world’s first decentralized digital currency, has been making headlines recently as more and more countries are considering adding it to their state reserves. This trend has sparked debates among the crypto community, with some arguing that it goes against Bitcoin’s original mission.

However, it is important to note that Bitcoin’s growing popularity as a state reserve asset does not necessarily contradict its original purpose. While it is true that Satoshi Nakamoto, the mysterious creator of Bitcoin, may not have envisioned it being used as a reserve asset, the core principles of the cryptocurrency remain unchanged.

Bitcoin was created as a decentralized alternative to traditional fiat currencies, with the aim of giving individuals more control over their own money. It was designed to be a peer-to-peer electronic cash system, allowing for secure and direct transactions without the need for intermediaries such as banks.

The fact that governments are now considering adding Bitcoin to their reserves is a testament to its growing legitimacy and acceptance as a legitimate form of currency. It also highlights the potential of Bitcoin to serve as a hedge against inflation and economic instability, which are major concerns for many countries.

Moreover, the use of Bitcoin as a reserve asset does not necessarily mean that governments will have complete control over it. Bitcoin’s decentralized nature means that no single entity can manipulate its value or supply. This ensures that it remains a truly independent and transparent currency, in line with its original mission.

In conclusion, while it may seem contradictory at first, Bitcoin’s increasing adoption as a state reserve asset does not go against its original purpose. Instead, it showcases the potential of this revolutionary currency to bring about positive change in the global financial system.

Chainflip locks out Bybit hacker with protocol upgrade

Chainflip, a decentralized exchange protocol, recently underwent an unplanned upgrade to strengthen its broker-level screening process. This upgrade was implemented in response to the recent hack on Bybit, a popular cryptocurrency exchange, where hackers were able to steal funds and potentially launder them through Chainflip’s protocol.

The upgrade was necessary to prevent any potential misuse of the protocol and to ensure the safety and security of users’ funds. By strengthening the broker-level screening process, Chainflip is taking proactive measures to prevent any unauthorized access to its platform.

The unplanned upgrade was a swift and decisive move by Chainflip, showcasing their commitment to maintaining a secure and trustworthy platform for its users. This upgrade not only protects users’ funds but also safeguards the reputation of the protocol and the wider cryptocurrency community.

Chainflip’s decision to implement this upgrade highlights the importance of constantly monitoring and improving security measures in the ever-evolving world of cryptocurrency. With the rise of decentralized finance (DeFi) and the increasing popularity of cryptocurrency, it is crucial for protocols to stay ahead of potential threats and vulnerabilities.

In addition to the unplanned upgrade, Chainflip has also announced plans to conduct a thorough security audit to further enhance the safety of its platform. This audit will be conducted by a reputable third-party firm and will provide an additional layer of assurance for users.

The recent hack on Bybit serves as a reminder of the importance of strong security measures in the cryptocurrency industry. Chainflip’s swift response and proactive approach demonstrate their dedication to providing a secure and reliable platform for users to trade and exchange cryptocurrencies.

In conclusion, Chainflip’s unplanned upgrade is a necessary step towards strengthening the security of its platform and preventing any potential misuse of its protocol. With this upgrade and the upcoming security audit, Chainflip is setting a high standard for security in the cryptocurrency industry and ensuring the safety of its users’ funds.

Altseason 2025: ‘Most altcoins won’t make it,’ says CryptoQuant CEO

CryptoQuant CEO Ki Young Ju predicts a selective altcoin season in 2025, where ETF approvals and strong fundamentals will determine the winners.

Bitcoin tumbles under $90K amid ETF sell-off, mounting liquidations

Bitcoin, the world’s largest cryptocurrency, has been experiencing a downward trend in recent days, falling below $90,000 for the first time since November 2024. This drop in price has been attributed to a combination of factors, including outflows from ETFs, significant liquidations in the crypto market, and ongoing trade tensions between the US and China.

The price of Bitcoin has been on a rollercoaster ride in the past few months, reaching an all-time high of over $69,000 in November 2021. However, since then, it has been struggling to maintain its momentum, with several dips and recoveries along the way. The recent drop below $90,000 has caused concern among investors and traders, who are closely monitoring the market for any signs of a potential rebound.

One of the main factors contributing to the decline in Bitcoin’s price is the outflows from ETFs. These investment vehicles, which allow investors to gain exposure to Bitcoin without directly owning it, have seen significant withdrawals in recent weeks. This has led to a decrease in demand for Bitcoin, resulting in a drop in its price.

In addition to ETF outflows, the crypto market has also seen a surge in liquidations, with over $1.3 billion worth of cryptocurrencies being liquidated in the past 24 hours alone. This has added to the downward pressure on Bitcoin’s price, as traders are forced to sell their holdings to cover their losses.

Furthermore, the ongoing trade tensions between the US and China have also had a negative impact on the crypto market. With the two economic superpowers engaged in a trade war, investors are becoming increasingly cautious and risk-averse, leading to a decrease in demand for Bitcoin and other cryptocurrencies.

Despite these challenges, many experts remain optimistic about the long-term prospects of Bitcoin. They believe that the current dip in price is a temporary setback and that the cryptocurrency will continue to grow in value in the coming years. As always, it is important for investors to do their own research and make informed decisions when it comes to investing in the volatile world of cryptocurrencies.