Crypto World
Six Arrested in France After Cryptocurrency Ransom Kidnapping of Magistrate
TLDR:
- French police arrested six suspects, including a minor, following a 30-hour cryptocurrency kidnapping
- Magistrate and mother escaped by alerting neighbor; no ransom paid to cryptocurrency kidnappers
- France experiencing pattern of crypto-linked kidnappings targeting industry professionals
- Previous victims include Ledger co-founder David Balland who had finger severed by kidnappers
French authorities arrested six suspects following a cryptocurrency ransom kidnapping that held a magistrate and her mother captive for approximately 30 hours.
The victims escaped without payment after being discovered injured in a garage in southeastern France. Lyon prosecutor Thierry Dran confirmed the arrests on Sunday, including four men, one woman, and a minor.
The incident adds to growing concerns about cryptocurrency-related crimes targeting industry professionals and their families.
Details of the Abduction and Rescue Operation
The 35-year-old magistrate and her 67-year-old mother were abducted overnight from Wednesday to Thursday. Police found them Friday morning in Bourg-les-Valence, located in the Drôme region.
Both victims sustained injuries during their ordeal but managed to free themselves by alerting neighbors.
The rescue unfolded when the captive women began banging on the garage door where they were held. Describing the escape, prosecutor Dran stated, “Alerted by the noise, a neighbour intervened. He was able to open the door and allow our two victims to escape.” The quick response from the neighbor prevented further harm to both women.
The kidnappers demanded cryptocurrency payment from the magistrate’s partner, who holds a senior position at a digital currency startup.
A ransom message accompanied by a photograph of the victim arrived shortly after the abduction. The perpetrators threatened to mutilate both women if payment delays occurred.
Authorities launched an extensive search operation involving 160 police officers. Two suspects were apprehended while attempting to board a bus to Spain.
Three arrests occurred overnight, followed by two more on Sunday morning. The minor suspect was detained Sunday afternoon. The female suspect is reportedly the partner of one of the male detainees.
Meanwhile, police continue searching for additional suspects connected to the case. Prosecutor Dran declined to disclose the specific ransom amount requested by the criminals.
Pattern of Cryptocurrency—Targeted Kidnappings
France has experienced multiple kidnapping incidents targeting cryptocurrency industry figures and their relatives. These crimes reflect a disturbing trend affecting the digital asset sector.
The perpetrators specifically choose victims with connections to substantial cryptocurrency holdings or businesses.
David Balland, co-founder of Ledger, became a victim in January 2025. Kidnappers seized Balland and his partner, severing his finger before demanding ransom.
His company held a valuation exceeding $1 billion at that time. Balland gained freedom the following day, while authorities discovered his girlfriend bound in a car trunk near Paris.
Another incident occurred in May involving the father of a Malta-based cryptocurrency company operator. Four masked individuals abducted the victim in Paris.
The kidnappers removed his finger and demanded several million euros. Security forces conducted a raid 58 hours later, securing his release.
These crimes demonstrate how criminals perceive cryptocurrency holders as lucrative targets. The digital nature of cryptocurrency enables anonymous transactions, potentially appealing to kidnappers seeking untraceable payments.
However, authorities have successfully prevented ransom payments in several cases, including the recent magistrate incident.
Law enforcement agencies continue developing strategies to combat this emerging criminal trend affecting the cryptocurrency community.
ETH price moved above $2,150 as Bitcoin and US stock markets rallied, but does data show whether derivatives traders have turned bullish yet?
Key takeaways:
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Ethereum maintains dominance in its total value locked metric, yet faces scrutiny over layer-2 scaling.
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ETH inflation rose to 0.8% as onchain activity slowed, while US macroeconomic fears kept the derivatives markets in bearish territory.
Ether (ETH) price managed to reclaim the $2,100 level following a 43% crash over nine days that culminated in the altcoin making a $1,750 low on Friday. Despite a 22% relief bounce after hitting its lowest price since April 2025, ETH derivatives markets continue to reflect investors’ fear of further downside. Regardless of whether the macroeconomic environment is driving investor concerns, the odds of sustainable bullish momentum for ETH in the short term remain dim.
ETH monthly futures traded at a 3% premium relative to regular spot markets on Monday, which is below the 5% neutral threshold. This lack of optimism among Ether traders has been constant over the past month, showing no signs of improvement even as the price dropped toward $1,800. Unless bulls step in to demonstrate a strong appetite for risk at these levels, bears will likely remain in control.
ETH has underperformed the broader cryptocurrency market capitalization by 9% in 2026, leading investors to question what is driving capital away. From a broader perspective, the declining interest in decentralized applications (DApps) is not exclusive to Ethereum. The network remains the dominant leader in Total Value Locked (TVL) and fee generation when aggregating its layer-2 solutions.
Deposits on the Ethereum base layer account for 58% of the entire blockchain industry; that figure surpasses 65% when including Base, Arbitrum, and Optimism. For instance, the largest application on Solana hardly exceeds $2 billion in deposits. By comparison, the largest DApp on the Ethereum base layer holds over $23 billion in TVL. Solana’s Jupiter would not even crack the top 14 on Ethereum.
ETH supply growth and layer-2 subsidies remain problematic
The Ethereum base layer ranked third in network fees, generating $19 million over 30 days, while the layer-2 ecosystem contributed another $14.6 million. Ethereum has faced criticism for heavily subsidizing scalability via optimistic rollups—a strategy Vitalik Buterin himself admitted needs adjustment. The Ethereum co-founder argued on Tuesday that the network should prioritize base layer scalability.
According to Buterin, the layer-2 path to decentralization turned out more difficult than anticipated. The present solutions reportedly rely on multisig-controlled bridges, which does not meet security standards required by Ethereum’s original vision. Buterin notes that this is not the end game for layer-2 as demand for networks offering privacy features and application-specific design will continue to exist, especially for non-financial use cases.
Related: Vitalik draws line between ‘real DeFi’ and centralized yield stablecoins
Part of investor disappointment can be explained by the failure of Ether’s strategy to become deflationary, which is a secondary effect of reduced Ethereum network activity. The built-in burn mechanism depends on demand for base layer data processing; without it, there is a net increase in the ETH supply. The annualized growth of the total ETH issued reached 0.8% over the last 30 days, a significant jump from one year prior when equivalent inflation was near 0%.
Ether traders remain skeptical that a sustainable rally can occur in the near term due to increased uncertainty in the US job market and the long-term sustainability of investments in artificial intelligence infrastructure. Consequently, the weak ETH derivatives markets are a reflection of generalized risk aversion and a slowdown in onchain activity—factors that will likely take more time to stabilize.
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. While we strive to provide accurate and timely information, Cointelegraph does not guarantee the accuracy, completeness, or reliability of any information in this article. This article may contain forward-looking statements that are subject to risks and uncertainties. Cointelegraph will not be liable for any loss or damage arising from your reliance on this information.
AI-generated deepfake videos portraying former Binance CEO Changpeng Zhao and Yi He have flooded Crypto Twitter. This has sparked debate over how far artificial intelligence has advanced in replicating real crypto figures.
The short videos, styled as dramatic “internal affairs” mini-series, use highly realistic AI avatars modeled on Zhao and Yi He, complete with lifelike voices, facial expressions, and emotional delivery.
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While many users have clearly labeled the videos as AI-generated satire, the quality of the videos has shocked parts of the crypto community. Several clips circulated widely across X throughout the day, with users noting that the visuals and dialogue now rival professional studio productions.
Deepfakes and Crypto’s Growing Problem
Zhao and Yi He, who co-founded Binance in 2017, have long been known to share both a close professional partnership and a personal relationship.
The videos lightly reference that dynamic but focus primarily on imagined corporate tensions rather than real-world events.
Neither Zhao nor Yi He has publicly commented on the videos.
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The viral clips arrive amid a broader surge in AI-driven deepfake content across the crypto sector.
In recent months, researchers have warned that crypto remains the most targeted industry for deepfake impersonation.
AI-generated videos, voice cloning, and synthetic avatars are increasingly used in scams impersonating founders, executives, and influencers.
According to Chainalysis, AI-generated impersonation scams surged by more than 1,400% in 2025. Law enforcement agencies have also warned that the line between satire, misinformation, and outright fraud is becoming harder to detect as generative AI improves.
A New Cultural Flashpoint
In this case, the Binance videos appear designed for entertainment rather than deception. However, their realism underscores how easily similar tools could be weaponized for market manipulation or investment fraud.
As deepfake technology becomes cheaper and more accessible, the crypto industry faces growing pressure to educate users on verification and digital literacy.
CME Group is set to expand its cryptocurrency derivatives lineup with new futures contracts for Cardano (ADA), Chainlink (LINK), and Stellar Lumens (XLM), pending regulatory approval.
CME Group, the world’s largest derivatives marketplace, has announced plans to introduce regulated futures contracts for Cardano (ADA), Chainlink (LINK), and Stellar Lumens (XLM) on February 9, pending regulatory review. This move marks a significant expansion of CME’s cryptocurrency offerings, which already include Bitcoin and Ether futures.
The new contracts will be available in both standard and micro sizes. ADA futures will be offered in 100,000 ADA contracts and Micro ADA in 10,000 ADA contracts. Similarly, LINK futures will be available in 5,000 LINK contracts, with Micro LINK at 250 LINK. Stellar futures will see contracts of 250,000 Lumens, along with Micro Lumens at 12,500 Lumens.
“Given crypto’s record growth over the last year, clients are looking for trusted, regulated products to manage price risk as well as additional tools to gain exposure to this dynamic market,” said Giovanni Vicioso, CME Group’s Global Head of Cryptocurrency Products. He emphasized the greater choice and enhanced flexibility these new products provide to both retail and institutional clients.
The development is part of CME Group’s broader strategy to augment its crypto derivatives suite.
This article was generated with the assistance of AI workflows.
Google CEO Sundar Pichai gestures to the crowd during Google’s annual I/O developers conference in Mountain View, California, on May 20, 2025.
David Paul Morris | Bloomberg | Getty Images
As Alphabet returns to the debt market to fund its artificial intelligence buildout, the company is acknowledging new risks tied to the rise of AI and its hefty investments in infrastructure.
In its annual financial report late last week, the Google parent highlighted the potential impact of AI on the company’s core advertising business and the possibility of ending up with “excess capacity” from its costly commitments.
“To meet the compute capacity demands of AI training and inference, as well as traditional cloud computing services, we are entering into significant leasing arrangements with third party operators, which may increase costs and operational complexity,” the company stated in the filing with the SEC. Large commercial agreements could also increase “liabilities and obligations in the event of nonperformance by us, our counterparties, or vendors,” Alphabet said.
One of the headline numbers in Alphabet’s earnings report was $185 billion, representing the high end of what the company says it may shell out in capital expenditures this year, more than double its 2025 capex.
To help finance its AI ambitions, Alphabet is planning to raise $20 billion from a U.S. dollar bond sale, according people familiar with the matter who asked not to be named because the details are confidential. The planned sale would take place over four tranches, including a 100-year bond deal in sterling, the people said, with one adding that the deal is five times oversubscribed.
Bloomberg first reported on the planned debt funding, which was originally expected to reach $15 billion.
Alphabet held a $25 billion bond sale in November. Its long-term debt quadrupled in 2025 to $46.5 billion. CFO Anat Ashkenazi said on last week’s earnings call that as the company considers its total investment, “we want to make sure we do it in a fiscally responsible way, and that we invest appropriately, but we do it in a way that maintains a very healthy financial position for the organization.”
When asked on the call what keeps executives up at night, CEO Sundar Pichai responded “compute capacity,” adding, “power, land, supply chain constraints, how do you ramp up to meet this extraordinary demand for this moment?”
In total, Alphabet, Microsoft, Meta and Amazon are now projected to increase capex this year by more than 60% from the historic levels reached in 2025, as they load up on high-priced chips, build new facilities and buy the networking technology to connect it all.
At the center of Google’s AI strategy is Gemini, its large language model and AI assistant that’s going head-to-head with OpenAI’s offerings and Anthropic’s Claude.
Pichai said on the earnings call that the Gemini AI app now has more than 750 million monthly active users, up from 650 million monthly active users last quarter.
With more consumers adopting generative AI, Google has to face the potential of people decreasing their use of internet search, which means possible changes in the company’s dominant ad business. It’s another thing that Google included in the risk sections of its financial filing for the first time.
“We and our competitors are constantly adjusting to meet this shift and provide new and evolving advertising formats,” the filing says. “There is no assurance that we will adapt effectively and competitively to meet this shift, and that such advertising formats, strategies, and offerings will be successful.”
Thus far, Google has been able to fend off concerns that AI will cannibalize its search and ads business. Ad revenue in the fourth quarter increased 13.5% from a year earlier to $82.28 billion.
— CNBC’s Seema Mody contributed to this report.
World Liberty Financial (WLFI) has generated at least $1.4 billion for the Trump and Witkoff families since November 2024, far surpassing the cash generated by Donald Trump’s real estate empire over an eight-year period.
Summary
- World Liberty Financial has generated at least $1.4 billion for the Trump and Witkoff families since late 2024.
- Most WLFI token proceeds flow to Trump-controlled entities.
- Related crypto ventures, including American Bitcoin, experienced dramatic post-listing declines
According to the Wall Street Journal, the Trump family received at least $1.2 billion in cash within roughly 16 months, along with an additional $2.25 billion in unrealized crypto gains. The Witkoff family earned at least $200 million over the same period.
WLFI disclosures show that 75% of WLFI token sales flow to a Trump-controlled entity, with 12.5% each allocated to the Witkoffs and co-founders Zak Folkman and Chase Herro. President Trump owns 70% of the Trump entity, with the remainder held by family members.
A major catalyst was a January 2025 deal in which Abu Dhabi-backed investors acquired 49% of World Liberty for $500 million, delivering $187 million upfront to Trump entities and $31 million to the Witkoffs.
Eric Trump finalized the deal just before the 2025 inauguration, according to the New York Times. It coincided with UAE efforts to secure U.S. artificial intelligence (AI) chips.
The firm also generated liquidity through a controversial mechanism involving Alt5 Sigma, a Nasdaq-listed company in which World Liberty acquired a controlling stake. Alt5 raised $750 million from investors and used most of the proceeds to purchase WLFI tokens directly from World Liberty at a premium price. More than $500 million flowed to Trump entities and $90 million to Witkoffs through this structure. Following the transaction, Alt5 shares fell sharply and WLFI tokens declined.
Separately, Eric Trump holds a significant stake in American Bitcoin, another crypto venture that saw its valuation surge and then collapse post-listing. The White House has denied conflicts of interest, stating the companies operate independently.
- Ethereum (ETH) drops toward $2,000 amid continued market volatility and selling pressure.
- Whale moves, ETF activity, and Bitcoin weakness fuel the recent decline.
- MVRV suggests ETH may be near a historical bottom, signalling potential rebound.
Ethereum’s recent rebound appears to be losing steam after the cryptocurrency reached a high of $2,136.
The coin is now quickly slipping towards the $2,000 mark, marking a continuation of a downtrend that has persisted over the past month.
Ethereum (ETH) is currently trading around $2,015, representing a 34.9% decline over the last month.
The sharp monthly decline is part of a broader pattern of volatility in the crypto market this year.
Trading volumes, however, remain elevated, with over $21.5 billion worth of tokens exchanged in the last 24 hours.
Market factors driving the ETH price decline
Several factors are contributing to Ethereum’s recent weakness.
One of the main drivers is elevated volatility in the derivatives and ETF markets.
Recent activity in Ethereum ETFs and Bitcoin-linked derivatives has amplified price swings.
Whale movements have also added pressure.
Large holders transferring ETH to exchanges can trigger panic selling, and reports indicate this has happened in recent weeks.
Bitcoin’s recent weakness has further weighed on Ethereum, given the strong correlation between the two cryptocurrencies.
Analysts also point to the breakdown of key support levels near $3,000 as a signal of continued downside risk.
Ethereum’s 7-day range of $1,824 to $2,369 highlights just how volatile the market has been.
But despite the downward pressure, Ethereum’s network activity remains robust.
Daily transactions and active addresses have not declined, signalling that usage of the blockchain remains strong.
This suggests that fundamentals may still support the network even if prices are under pressure.
Could a market bottom be near?
On-chain analysis offers a possible silver lining for Ethereum investors.
The Market Value to Realised Value (MVRV) metric on Santiment indicates that ETH has approached historically significant levels.
The coin recently traded below the 0.80 MVRV pricing band, a zone that historically corresponds with market bottoms.
This level often signals that many investors are at a loss, creating conditions for accumulation.
Previous dips below this band have been followed by sustained price recoveries over weeks and months.
Current readings suggest Ethereum is undervalued relative to recent history, though the deepest bottom has not yet been confirmed.
If ETH continues to hold near $2,000 and rebounds, it could mark the start of a longer-term recovery phase.
Traders and long-term holders will be watching closely for confirmation of support around this level.
Ultimately, the short-term trend is bearish, but on-chain indicators suggest that Ethereum’s decline may be nearing a turning point.
The coming days will be critical in determining whether ETH stabilises or continues its descent toward lower support levels.
Altcoin momentum is picking up as renewed buying pressure returns to select high-beta tokens. After a period of consolidation and volatility, several charts are now flashing continuation signals and reversal signals.
BeInCrypto has analyzed three such altcoins that the investors should watch in the second week of February.
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Axie Infinity (AXS)
AXS emerged as the best-performing altcoin today, surging 18% over the past 24 hours. The rally helped preserve the broader uptrend that began at the start of the year. Renewed buying interest suggests traders are regaining confidence after recent volatility weighed on momentum.
A recent pullback delayed a potential Golden Cross that AXS was approaching in early February. If bullish momentum resumes from current levels, the setup could re-emerge. Such a reversal may push AXS above $1.65, opening the path toward the $1.92 resistance zone.
Want more token insights like this? Sign up for Editor Harsh Notariya’s Daily Crypto Newsletter here.
Downside risk remains if bullish momentum fails to hold. A breakdown below $1.32 would signal a loss of uptrend support. Under that scenario, AXS could slide toward the $1.05 support, invalidating the bullish thesis and shifting sentiment back toward caution.
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Kite (KITE)
KITE is among the strongest-performing altcoins in the market, continuing to post fresh all-time highs since February began. The altcoin set a new ATH at $0.1719 today, extending its momentum-led rally. Persistent buying interest highlights strong demand as traders favor high-momentum assets during the current market phase.
KITE recently bounced from the $0.1506 support, reinforcing bullish structure. The Parabolic SAR remains positioned below the price, signaling an active uptrend. This technical setup supports further upside and suggests the ATH rally may continue as long as buyers defend key support levels.
Profit-taking risk remains elevated after repeated ATHs. Additionally, a decisive drop below the $0.150 support would weaken the bullish structure. Under that scenario, KITE could retreat toward $0.127, invalidating the bullish thesis and signaling a deeper corrective phase.
BankrCoin (BANKR)
BankrCoin is showing strong bullish momentum after a sharp impulsive breakout from the $0.0007020 resistance, which has now flipped into support. Price accelerated toward the $0.00099 all-time high, followed by a tight consolidation near $0.00087. The structure suggests healthy continuation rather than distribution, positioning it as an altcoin to watch.
If buyers defend $0.00087, the price is likely to retest the $0.00099 all-time high. Furthermore, a clean breakout above $0.00099 would open price discovery toward $0.00110 next. Strong bullish candles, rising volume, and shallow pullbacks support continuation, indicating momentum remains firmly in favor of bulls.
Bullish invalidation occurs on an 8-hour close below $0.0007020, which would signal a failed breakout and shift momentum neutral. As a result, a deeper breakdown below $0.0005404 would fully invalidate the bullish structure.
TLDR
- Cango sold 4,451 BTC, reducing Bitcoin reserves by 60% to repay a Bitcoin-collateralized loan.
- The company raised $305M, improving its financial leverage and balance sheet.
- Cango aims to pivot towards AI compute infrastructure, targeting small and medium enterprises.
- Jack Jin, former Zoom Communications leader, appointed CTO of Cango’s AI business line.
- Bitcoin’s price dropped 1.06%, while Cango saw a 3.26% after-hours rebound to $0.9500.
Cango, a Bitcoin mining company, has sold 4,451 BTC for approximately $305 million, reducing its Bitcoin reserves by 60%. The sale aims to repay a Bitcoin-collateralized loan amid recent market volatility.
Bitcoin Sale Reduces Cango’s Reserves and Strengthens Balance Sheet
The sale of 4,451 BTC represents a substantial reduction in Cango’s digital asset holdings. This move is part of a broader strategy to strengthen the company’s balance sheet and reduce financial leverage.
The $305 million raised from the sale was directly applied to partially repay a Bitcoin-backed loan, improving Cango’s financial position. The divestment comes at a time when Bitcoin prices have rebounded from a recent low.
By selling a portion of its reserves, Cango aims to maintain flexibility while funding strategic growth initiatives, including expansion into AI compute infrastructure.
Cango Shifts Focus to AI Compute Infrastructure
In addition to the sale, Cango is pivoting toward AI computing by leveraging its existing infrastructure. The company plans to offer distributed compute capacity for the AI industry, targeting small and medium-sized enterprises.
Cango’s modular approach promises faster deployment timelines compared to traditional data center models. Cango also appointed Jack Jin as CTO of its AI business line.
Jin, a former leader at Zoom Communications, brings expertise in AI/ML infrastructure and large-scale GPU systems. His experience aligns with Cango’s strategy to develop a global distributed inference platform using modular, containerized GPU compute nodes.
Bitcoin Dips 1.06% While Cango Inc. Sees After-Hours Rebound
At the time of press, CoinMarketCap data indicates that Bitcoin’s price is currently $69,983.52, down 1.06% in the last 24 hours. The price fluctuated between $69,730 and $71,000 during the day.
On the other side, Cango Inc. (CANG) closed at $0.9200, down 5.52% on the day. The stock fluctuated between $0.8840 and $0.9887. After hours, the price rose by 3.26%, reaching $0.9500.
The stock had a previous close of $0.9738. Trading volume reached 1,229,780 shares, with an average volume of 985,054. The 52-week range for Cango is between $0.8840 and $2.8750, with a market cap of $318.642 million.
After three consecutive weeks of sharp declines, buying pressure has returned to the market. However, it remains insufficient to dispel investor skepticism fully. Several altcoins now show unique catalysts that could drive outsized recoveries this week, increasing liquidation risks.
Ethereum (ETH), Dogecoin (DOGE), and Zcash (ZEC) could collectively trigger more than $3.1 billion in liquidations if traders fail to assess the following risks properly.
1. Ethereum (ETH)
ETH’s 7-day liquidation map shows that potential liquidations from short positions outweigh those from long positions.
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Many traders appear to expect further downside. ETH has already fallen about 40% since mid-January.
This bearish expectation faces growing risk. On-chain data shows that only around 16 million ETH remain on exchanges. This level marks the lowest since 2024.
Recent sell-offs have accelerated outflows from exchanges. Lower exchange balances reduce available supply. This dynamic can amplify price recoveries through supply–demand imbalances.
Additionally, more than 4 million ETH also sit in the staking queue. This further constrains the market’s liquid supply.
If ETH’s recovery strengthens due to these factors, short sellers could face significant risk. If ETH rises to $2,370 this week, potential liquidations from short positions could reach $3 billion.
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2. Dogecoin (DOGE)
Dogecoin (DOGE) has fallen below $0.10. This level matches its 2024 price low. The 7-day liquidation map shows potential short liquidations of up to $98 million if DOGE rebounds to $0.109 this week.
Analysts argue that such a scenario remains plausible given both short- and long-term structures.
In the short term, trader Trader Tardigrade points to a Bull Flag pattern. This setup suggests DOGE could move toward $0.12 this week.
From a longer-term perspective, analyst Javon Marks highlights the formation of Higher Lows (HL) following Higher Highs (HH). This structure signals strength.
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“As Higher Lows hold, we could see Dogecoin climb over 640% to and above the current ATH levels at ~$0.73905,” Javon Marks projected.
Discussion around Dogecoin may also regain momentum. In early February, billionaire Elon Musk responded to a question from the Tesla Owners Silicon Valley account regarding Dogecoin.
3. Zcash (ZEC)
Zcash (ZEC) has dropped about 50% since January 8. The decline followed the announcement that the entire Electric Coin Company (ECC) team, the core developer behind Zcash, would depart. Broader negative market sentiment has further prolonged the downturn.
ZEC’s liquidation map shows that potential liquidations from short positions dominate. This indicates that many traders still expect the downtrend to continue.
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Several positive signals have emerged recently. Vitalik Buterin, the founder of Ethereum, publicly donated to Shielded Labs, a development group working on Zcash.
Buterin emphasized that privacy is not optional. He described it as core blockchain infrastructure. This action could help revive positive sentiment toward ZEC.
Data from zkp.baby shows that more than 5 million ZEC remain locked in the Shielded pool, despite the sharp price decline. Negative news and broader selling pressure appear not to have undermined investor confidence in Zcash’s technology.
Overall, the altcoin market has begun to rebound after a period of panic selling. Recent analyses suggest total market capitalization could recover above $2.8 trillion.
This broader recovery, combined with asset-specific catalysts, could push prices well beyond short sellers’ expectations, increasing the likelihood of liquidations.
- World Liberty Financial’s price traded to highs of $0.1145 in the early hours on Monday.
- The WLFI token could break to $0.14 or higher if bulls hold.
- Broader market conditions may derail the momentum.
WLFI, the native token of the World Liberty Financial project, posted double-digit gains early on Monday, rebounding from losses that saw prices slide to lows near $0.09 on Friday.
Data from CoinMarketCap showed WLFI climbing more than 12% to intraday highs of $0.1145, placing it among the day’s top performers alongside Axie Infinity.
The rally was supported by a sharp rise in trading activity, with 24-hour volume surging 98% to more than $228 million.
The move also coincided with Bitcoin and Ethereum hovering near $70,000 and $2,000, respectively.
The rebound suggests the token is attempting to recover quickly from the lows recorded during last week’s broader market sell-off.
WLFI price jumps to near $0.12
WLFI’s upward momentum propelled the token close to $0.12, with likely bullish drivers being a confluence of whale accumulation and an upcoming high-profile event.
Blockchain analytics firm Lookonchain reported that a new wallet had deployed $10 million in USDC to acquire 47.6 million WLFI tokens.
The large purchase was at an average price of $0.109, and data showed the whale still held more than $4.8 million of dry powder ready for fresh buying.
Adding to the bullish sentiment is the anticipation surrounding the World Liberty Forum.
The event is slated for February 18 at Mar-a-Lago, and could feature investment heavyweights from Goldman Sachs, Franklin Templeton, and FIFA.
These developments come despite the latest spotlight on World Liberty Financial from Democrats, largely around the $500 million investment into the project by the UAE.
Investors defying the negative sentiment from this development look to have added to the buying pressure that pushed WLFI toward the $0.12 supply wall.
World Liberty Financial price prediction
Technical indicators on WLFI’s four-hour chart point to a strengthening near-term outlook, with prices trading above the midline of a descending channel.
Further upside could see the token test the upper boundary of the channel.
From a technical perspective, this setup suggests the potential for a breakout, with a key supply zone located around $0.14.
Momentum indicators are also supportive. The Moving Average Convergence Divergence (MACD) has registered a bullish crossover, while the Relative Strength Index (RSI) is hovering near 47, indicating neutral-to-bullish conditions as the market recovers from earlier overbought levels.
Traders are now focused on $0.14 as the main resistance level.
A sustained move above this zone could open the way toward $0.16, where the upper Bollinger Band and previous support levels converge.
On the downside, a failure to hold support near $0.13 could trigger a pullback toward the lower end of the channel, around $0.10, underscoring the importance of strong volume confirmation for any further upside move.
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