Melania Trump’s memecoin team ‘quietly sold’ $30M, says Bubblemaps
The team behind US first lady Melania Trump’s memecoin, Melania Meme (MELANIA), has moved $30 million worth of the token out of the project’s community funds and has begun selling them, says blockchain analytics firm Bubblemaps.Bubblemaps said in an April 7 X post that 50 million MELANIA tokens worth around $30 million “was moved from community funds — and is now being quietly sold, with no explanation from the team.”It added the tokens were moved to a single wallet before being “split across multiple addresses.” From there, Bubblemaps said $3 million worth were transferred to exchanges, two new $6 million positions were opened, and $500,000 worth of MELANIA was sold.Source: Bubblemaps“No one from the MELANIA team has addressed this. Not the movements. Not the selling,” it added.Bubblemaps said that 92% of MELANIA’s supply is held by “team wallets” and claimed that “the damage isn’t done yet.” MELANIA freefalls from peak high The MELANIA token was launched on Jan. 19, a day after Donald Trump launched his own memecoin and a day before he was due to re-enter the White House.The token has essentially lost all its value since launch and is down over 96% from its January high of over $13, and is trading at $0.51 — down over 7.5% in the last day, according to CoinGecko.Bubblemaps said last month that it found that Hayden Davis, who said he helped create MELANIA, had started “covertly selling $MELANIA tokens via single-sided liquidity.”Related: Libra, Melania creator’s ‘Wolf of Wall Street’ memecoin crashes 99%The firm claimed Davis had also used the tactic to quietly sell LIBRA, a memecoin he also copped to making that was shared by Argentine President Javier Milei, which caused a political scandal after the token’s value cratered.Interest in memecoins has recently waned amid a wider market rout with data from Dune Analytics in March finding that the number of tokens graduating from Solana-based memecoin launchpad, Pump.fun, had dropped by over two-thirds since January, falling from 5400 per week to just 1500. The total number of tokens launching on Solana is also down, with data from SolScan showing only 31,651 launched on April 5, less than one-third of the 95,578 created at the peak of the memecoin frenzy this year on Jan. 26.Magazine: Memecoins are ded — But Solana ‘100x better’ despite revenue plunge
Shaquille O’Neal gets judge’s greenlight for $11M Astrals NFT settlement
Former NBA star Shaquille O’Neal has been granted final court approval to settle a class-action lawsuit for $11 million with Astrals non-fungible token (NFT) buyers.Florida federal court judge Federico Moreno granted approval of the settlement between O’Neal and the class group led by Daniel Harper in an April 1 order made available on April 8.The deal created a fund of up to $11 million for eligible class members and awarded $2.9 million in attorney fees and costs. All those who purchased Astrals NFTs from May 2022 to Jan. 15 and those who purchased the project’s native GLXY tokens up until mid-January are eligible. “The fee sought by lead class counsel has been reviewed and approved as fair and reasonable by plaintiffs,” Moreno’s order read.O’Neal was hit with the lawsuit in May 2023 over his founding and promotion of the Solana-based Astrals NFT project, which the suit claimed was an “offer and sale of unregistered securities.”The class group said they bought Astrals NFTs and “suffered investment losses” due to O’Neal’s “conduct” in promoting the project.In August, Judge Moreno recognized that the class suit had alleged that the former NBA player was a seller of the NFTs. O’Neal agreed to the settlement in November.Screenshot from court order on final settlement. Source: CourtlistenerNFT sales slumpThe Astrals NFT collection consisted of 10,000 unique 3D digital collectibles created in April 2022 by the artist Damien Guimoneau in a Solana-based project that promoted a virtual world where users could socialize and play with others, including the basketball star. Related: NFT sales plunge 63% in Q1, but Pudgy Penguins, Doodles buck trend There has been no activity or sales from the collection for the past two years, according to NFT marketplace OpenSea. Overall, NFT sales are still in deep bear market territory, with just $27 million sold as of April 7, down from more than $2 billion per week at the end of 2021, according to CryptoSlam.Magazine: 3 reasons Ethereum could turn a corner: Kain Warwick, X Hall of Flame
AI agent platform Virtuals revenue plunges to $500 a day with token down 90%
The artificial intelligence agent creation and monetization platform Virtuals Protocol has seen its daily revenue plummet to just $500 as demand for crypto AI agents continues to wane.“Probably one of the wildest crypto charts of the cycle,” Blockworks researcher Sharples said in an April 8 X post.Steep decline in AI agent creationSharples said that it has “been about a week” since a new AI agent launched on Virtuals compared to late November when the platform was helping make over 1,000 new AI agents a day, according to Dune Analytics data.On Jan. 2, the Virtual Protocol (VIRTUALS) token hit an all-time high of $4.61, Blockworks data shows Virtuals’ daily revenue soared above $500,000. However, that seemed to mark the start of a downtrend, signaling a potential top for the AI agent sector. The decline continued even after a Jan. 25 announcement that the project had expanded to Solana.On April 7, Sharples pointed out that Virtuals generated “less than $500” in daily revenue, with its token price falling as low as $0.42. Virtuals Protocol’s AI agents have generated a total lifetime revenue of $39.1 million. Source: Dune AnalyticsThe total AI agent market cap is $153.81 million, according to Dune Analytics. However, $76.6 million of that portion is allocated to AIXBT, which analyzes crypto sentiment on the social media site X to pick up on trends.AIXBT has dropped 92% since reaching its all-time high of $0.90 on Jan. 16. As of publication, it is trading at $0.07, according to CoinMarketCap data.DeGen Capital core contributor Mardo said the current market conditions have played a role in Virtuals’ decline, but it could also be tied to terms Virtuals has with builders, such as “withholding token taxes that other platforms freely give back.” It comes on the backdrop of the entire crypto market experiencing a downturn alongside global financial markets, as US President Donald Trump continues to ramp up tariffs and fears grow that it may lead to a recession.AI agents in current form are “garbage”However, many criticized AI agents for their lack of functionality. AI commentator, BitDuke said of the Virtual’s revenue decline, “ChatGPT wrappers are no longer interesting, who could have guessed.”Related: Not every AI agent needs its own cryptocurrency: CZAI commentator “DHH,” said in an April 8 X post, “I’m as AI positive as the next guy, but you’re delusional if you think any AI agent is full-on replacing a great programmer today. Who knows about tomorrow, but that day hasn’t arrived yet.”Meanwhile, Infinex founder Kain Warwick recently told Magazine that AI may possibly have a comeback despite the “first version of AI slop agents” being “garbage.”Magazine: Bitcoin heading to $70K soon? Crypto baller funds SpaceX flight: Hodler’s Digest, March 30 – April 5This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
Trump tariffs could lower Bitcoin miner prices outside US, says mining exec
The Trump administration’s sweeping tariffs could collapse US demand for Bitcoin mining rigs, which would benefit mining operations outside the country as manufacturers will look outside the US to sell their surplus inventory for cheaper, says Hashlabs Mining CEO Jaran Mellerud.“As machine prices rise in the U.S., they could paradoxically decrease in the rest of the world,” Mellerud said in an April 8 report. “The demand for shipping machines to the U.S. is set to plummet, likely nearing zero.”“Manufacturers will be left with excess stock originally intended for the US market. To offload this surplus, they’ll likely need to lower prices to attract buyers in other regions,” he added.Falling mining rig prices could see non-US mining operations scale up and take a larger slice of Bitcoin’s total hashrate, Mellerud said.Source: Jaran MellerudUS President Donald Trump unveiled his administration’s “reciprocal tariffs” on nearly every country on April 2. Some of the largest crypto mining machine makers are based in countries hardest hit by the tariffs, including Thailand, Indonesia and Malaysia, which saw tariffs of 36%, 32% and 24%, respectively.Crypto mining rig makers Bitmain, MicroBT and Canaan moved to some of these countries to circumvent a 25% tariff that Trump imposed on China in 2018 during his last administration.Annual change in US tariffs on China, Indonesia, Malaysia and Thailand since 2017. Source: Hashlabs MiningMellerud noted that Trump’s latest tariffs would mean a mining rig that initially costs $1,000 would be priced at $1,240 in the US.“Meanwhile, in Finland and most other countries, there are no tariffs, so the cost of a $1,000 machine remains unchanged.”“In an industry as cost-sensitive as Bitcoin mining, a 22% price increase on machines can make operations financially unsustainable,” he added.No coming back from Trump’s tariffs — ‘Damage is done’Mellerud believes a future reversal of the Trump administration’s tariffs wouldn’t restore US crypto mining operators’ confidence.“Even if these tariffs are rolled back within a few months, the damage is done — confidence in long-term planning has been shaken,” Mellerud said. “Few will feel comfortable making major investments when critical variables can change overnight.”He said US miners felt reassured when Trump returned to the White House, expecting a more stable regulatory environment. Related: Bitcoin hashrate tops 1 Zetahash in historic first, trackers show“But they are now experiencing the flip side of his unpredictable policy shifts,” Mellerud said.The US accounts for nearly 40% of the network’s hashrate. Mellerud said there’s no reason for US miners to unplug their machines and doesn’t expect the total Bitcoin hashrate coming from the US to drop.However, the path to expansion is now “steep and uncertain,” he said, and as a result, the US could lose a considerable share of hashrate. Trump’s tariffs have shaken up almost every market, including the crypto markets and Bitcoin (BTC), which is down 4% over the last 24 hours to $76,470, CoinGecko data shows.Bitcoin is now 30% off the $108,786 all-time high it set on Jan. 20 — the same day that Trump re-entered the White House.Magazine: Crypto fans are obsessed with longevity and biohacking: Here’s why
Hackers hide crypto address-swapping malware in Microsoft Office add-in bundles
Malicious actors are attempting to steal crypto with malware embedded in fake Microsoft Office extensions uploaded to the software hosting site SourceForge, according to cybersecurity firm Kaspersky.One of the malicious listings, called “officepackage,” has real Microsoft Office add-ins but hides a malware called ClipBanker that replaces a coped crypto wallet address on a computer’s clipboard with the attacker’s address, Kaspersky’s Anti-Malware Research Team said in an April 8 report.“Users of crypto wallets typically copy addresses instead of typing them. If the device is infected with ClipBanker, the victim’s money will end up somewhere entirely unexpected,” the team said.The fake project’s page on SourceForge mimics a legitimate developer tool page, showing the office add-ins and download buttons and can also appear in search results.Kaspersky said it found a crypto-stealing malware on the software hosting website SourceForge. Source: KasperskyKaspersky said another feature of the malware’s infection chain involves sending infected device information such as IP addresses, country and usernames to the hackers through Telegram.The malware can also scan the infected system for signs it’s already been installed previously or for antivirus software and delete itself.Attackers could sell system access to othersKaspersky says some of the files in the bogus download are small, which raises “red flags, as office applications are never that small, even when compressed.” Other files are padded out with junk to convince users they are looking at a genuine software installer.The firm said attackers secure access to an infected system “through multiple methods, including unconventional ones.”“While the attack primarily targets cryptocurrency by deploying a miner and ClipBanker, the attackers could sell system access to more dangerous actors.” The interface is in Russian, which Kaspersky speculates could mean it targets Russian-speaking users.“Our telemetry indicates that 90% of potential victims are in Russia, where 4,604 users encountered the scheme between early January and late March,” the report stated.To avoid falling victim, Kaspersky recommended only downloading software from trusted sources as pirated programs and alternative download options carry higher risks.Related: Hackers are selling counterfeit phones with crypto-stealing malware“Distributing malware disguised as pirated software is anything but new,” the company said. “As users seek ways to download applications outside official sources, attackers offer their own. They keep looking for new ways to make their websites look legit.”Other firms have also been raising the alarm over new forms of malware targeting crypto users. Threat Fabric said in a March 28 report it found a new family of malware that can launch a fake overlay to trick Android users into providing their crypto seed phrases as it takes over the device.Magazine: Bitcoin heading to $70K soon? Crypto baller funds SpaceX flight: Hodler’s Digest, March 30 – April 5
Bitcoin price could rally even as global trade war rages on — Here is why
Crypto and equities traders were hopeful for a last-minute solution that would prevent the US from enacting 104% tariffs on Chinese goods entering the United States, but in a press conference, the White House confirmed that the tariffs would start on April 9. Markets deteriorated when Peter Navarro, trade adviser to US President Donald Trump, stated that tariffs were “not a negotiation.”As a result, the S&P 500 index closed on April 8 with a 1.6% loss, reversing earlier gains of 4%. This downturn has left traders wondering whether Bitcoin (BTC) can regain its bullish momentum amid worsening macroeconomic conditions.Spiraling US debt issues remain, paving the way for Bitcoin gainsBetween April 2 and April 7, the S&P 500 index dropped by 14.7%, causing panic among Bitcoin holders and forcing a retest of the $75,000 level—the lowest in more than five months.S&P 500 futures (left) vs. Bitcoin/USD (right). Source: TradingView / CointelegraphDuring an appearance with Israeli Prime Minister Benjamin Netanyahu on April 7, President Trump reportedly said his goal was to “reset the table” on trade. He added that “there can be permanent tariffs, and there could also be negotiations because there are things that we need beyond tariffs.” Amid this uncertainty, IPOs and mergers have been delayed, while leveraged loan deals and bond sales were sidelined, according to Yahoo Finance.It becomes clear that the stock market is likely to rally if trade war risks subside. Economists have cautioned that tariffs could trigger inflation and significantly raise the chances of an economic recession, according to Reuters. However, assessing the impact on Bitcoin’s price remains a challenging task. This is because some investors see the cryptocurrency’s fixed monetary system as a safeguard against the continuous expansion of global fiat currency supplies.Short-term correlations hurt BTC, but possible interest rate cuts could turn the tideIn the short term, the positive correlation between Bitcoin and the stock market is expected to persist. Nonetheless, the US government’s fiscal challenges present a potential opportunity for Bitcoin’s price to grow. On April 8, the US 10-year Treasury yield rose to 4.28%, following a brief dip to 3.90% on April 7. This increase suggests that investors are demanding higher returns to hold these assets.US Dollar Index (DXY, left) vs. US 10-year Treasury yield (right). Source: TradingView / CointelegraphThe rising cost of rolling over the $9 trillion in federal government debt set to mature within the next 12 months is expected to increase fiscal imbalance and weaken the US dollar. The US Dollar Index (DXY) has diverged from US Treasury yields, falling to 103.0 on April 8 from 104.2 on March 31. This situation could potentially support Bitcoin’s price—a sentiment shared by BlackRock CEO Larry Fink in his March 31 letter to investors.Related: Weaker yuan is ‘bullish for BTC’ as Chinese capital flocks to crypto — Bybit CEOMichael Gapen, Morgan Stanley’s chief US economist, stated in a client note on April 8: “We think the right answer is for the Fed to wait in its current stance for longer,” as reported by CNBC. According to Morgan Stanley’s updated forecast, the US Federal Reserve is expected to maintain interest rates at 4.25%-4.50% until March 2026, adding that “only a recession would change the calculus” and “a recession could mean earlier and larger up-front cuts.”Bitcoin’s momentum is likely to turn positive as traders realize that the US Federal Reserve has limited tools to avoid a recession without risking inflation. While predicting the exact timing of a breakout remains uncertain, prolonged delays in resolving trade war issues could drive investors toward scarce assets like Bitcoin, especially amid fears of potential US dollar devaluation.This article is for general information purposes and is not intended to be and should not be taken as legal or investment advice. The views, thoughts, and opinions expressed here are the author’s alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.
RedStone targets trading latency with new oracle on MegaETH
RedStone, a blockchain oracle provider, has introduced a push-based oracle on MegaETH to tackle latency issues that challenge the efficiency of onchain trading.According to a spokesperson for RedStone, the new oracle can push new prices onchain every 2.4 milliseconds. Initially debuting on MegaETH, an Ethereum layer-2 network, the product may be rolled out to additional chains in the future.RedStone said its oracle sources prices from centralized exchanges and delivers them directly to applications or smart contracts via nodes that operate natively on the MegaETH chain.This “co-location” strategy minimizes latency by eliminating delays typically caused by the physical distance between servers. In the future, RedStone also plans to include price feeds from decentralized exchanges.Oracles compatible with the Ethereum Virtual Machine (EVM) are becoming more popular. According to Alchemy, there are currently 12 decentralized oracle networks operating on Ethereum.Oracles can make money through data usage fees, licenses, staking rewards and node incentives. The current market capitalization for oracle tokens sits at $10.2 billion, according to CoinMarketCap.Related: Trump’s World Liberty Financial taps Chainlink as oracle providerDeFi growth spurs further rise of oraclesDecentralized finance’s total value locked onchain nears $88 billion as of April 8, after rising 116% in 2024, according to DefiLlama. Ethereum remains the top blockchain for DeFi applications, with $47.8 billion locked in the network, followed by Solana with $6.1 billion in DeFi TVL.DeFi TVL over time. Source: DefiLlamaThe rise of DeFi has intensified competition in the oracle market — an essential component for the functioning of decentralized applications. Price oracles feed real-time market data into smart contracts, acting as a bridge between blockchains and the real world.Popular players in the oracle space include Chainlink and Pyth Network. In October 2024, Pyth flipped Chainlink in 30-day volume, reaching $36 billion in transactions. The protocol offers a pull-based model that provides data upon request, thus making it optimized for high-volume activities. Magazine: Financial nihilism in crypto is over — It’s time to dream big again
Bitcoin weekly RSI hits bull market low as trader sees $70K BTC price bottom
Bitcoin (BTC) has a new $70,000 reversal target as a leading indicator sets new bull market lows.In X analysis on April 7, popular trader and analyst Rekt Capital predicted that BTC/USD could find its floor near old all-time highs from 2021.History suggests $70,000 should end BTC price dipBitcoin can dip as low as $70,000 before recovering and still keep within historical norms, Rekt Capital says.Considering where the current bull market correction might end up, the analyst used the relative strength index (RSI) indicator to calculate the potential BTC price downside.“Whenever Bitcoin’s Daily RSI crashed into the sub-28 RSI levels – that wouldn’t necessarily mark out the price bottom. In fact, historically, the actual price bottom would be -0.32% to -8.44% lower than the price when the RSI first bottomed,” he explained.“Bitcoin is currently forming its second low -2.79% below the first low. A repeat of -8.44% below the first low would see price bottom at ~$70000.”BTC/USD 1-day chart with RSI data. Source: Rekt Capital/XThe RSI is a classic example of a leading indicator, printing signals that often precede major BTC price trend changes. Regardless of the timeframe used, the 30, 50 and 70 RSI levels are of particular importance. A score below 30 represents “oversold” conditions, while 70 is the line in the sand for “overbought.”Currently, the daily RSI measures around 38, having rejected at 50. On the weekly chart, RSI is at 43, marking its lowest reading since the start of the bull market in early 2023, data from Cointelegraph Markets Pro and TradingView confirms.BTC/USD 1-week chart with RSI data. Source: Cointelegraph/TradingViewContinuing, Rekt Capital added that the price need not extend to $70,000 in order for a long-term bottom to form.“As a result, historical Daily RSI trends in this cycle suggest anything from current prices to ~$70000 is likely to be the bottom on this correction,” he added.BTC/USD last traded at $70,000 in early November 2024, while the price level is best known as being around the all-time high from Bitcoin’s previous bull market which ended three years prior.Macro trend “seriously bad for Bitcoin”As Cointelegraph reported, $70,000 is a popular target for the current correction, with tools such as the Lowest Price Forward metric giving high odds of that area holding as support.Related: Black Monday 2.0? 5 things to know in Bitcoin this weekIts creator, network economist Timothy Peterson, nonetheless remains downbeat about the short-term BTC price outlook.US macroeconomic trends, he warned this week, could “easily” send BTC/USD to the $70,000 mark.“Seriously bad for Bitcoin,” he wrote on X alongside a chart of the ICE BofA US High Yield.This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.