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Crypto Market Cap Tops $3T in 6-Week High as Altcoins Catch Up

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After a Historic January, What’s in Store for Bitcoin in February?



Total market capitalization topped $3 trillion for the first time since early March as altcoins followed their big brother Bitcoin in recovery.

It is the first time total cap has been over $3 trillion since March 7, and could be a sign of a sustained recovery as more than $500 billion has entered the market since April 9.

The 4.6% gain for crypto markets came as US President Donald Trump flip-flopped again on trade tariffs, saying that tariffs on China won’t be as high as 145% and “will come down substantially, but won’t be zero.”

Trump has also eased off on Federal Reserve chair Jerome Powell, saying he has “no intention” of firing the central banker after calling him a “major loser” earlier this week.

He took a softer approach, reiterating that now is the “perfect time” to lower rates and hopes that Powell will “be a little more active in terms of his idea to lower interest rates.”

Altseason Yet?

Bitcoin still led the pack, topping $93,700 during early trading in Asia on Wednesday morning, but the altcoins were showing some rare gains also. BTC has now broken out of its sideways channel and appears poised to break through resistance just above $95,000.

Additionally, its dominance remains high at 64.4%, which means altseason is still a long way off despite today’s minor price pumps. Meanwhile, the Bitcoin Fear and Greed Index has flipped to greed, hitting 72 on Wednesday.

Spot Bitcoin ETFs in the United States have also seen a reversal in flows, with more than $1 billion entering the products so far this week, according to Coinglass.

Today’s Top Performers

Ethereum has been one of today’s top performers, ripping 13.5% to come just shy of $1,800 during the Wednesday morning Asian session. ETH has now recovered 28% since its dip to $1,400 on April 9, but the asset remains at bear market lows and at record lows in terms of market dominance.

Dogecoin (DOGE) is another double-digit gainer today, with 12.7% added to reach $0.18 at the time of writing.

Cardano made 10% to reach $0.68, Avalanche was up 12% to top $22, but Sui was one of the biggest gainers with a whopping 23% pump to reach $2.75. Other double-digit altcoins include memecoins Shiba Inu and Pepe.

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Bitcoin Consolidates Near Peak as Experts Eye Macro Triggers

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Bitcoin Consolidates Near Peak as Experts Eye Macro Triggers



Bitcoin Consolidates Near Peak as Experts Eye Macro TriggersBitcoin’s rally to $112,000 has entered a stabilization phase, with industry executives attributing recent price movements to technical consolidation and shifting macroeconomic expectations rather than bearish sentiment. Experts: Bitcoin Correction Healthy, Macro Data Key to Breakout Ruslan Lienkha, Chief of Markets at Youhodler, views the recent net distribution by large holders as a correction within […]



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LIBRA Memecoin Collapse: How a Presidential Endorsement Fueled One of Crypto’s Largest Rug Pulls | by CoinGen | Coinmonks | May, 2025

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CoinGen


LIBRA wasn’t just another memecoin. It came wrapped in the flag of Argentina, sprinkled with government-flavored hype, and promoted by none other than the country’s President himself. But within 24 hours, it turned into one of the biggest crypto rug pulls of the decade — wiping out billions, implicating high-level politicians, and triggering a national crisis.

LIBRA was supposed to be a meme — a playful nod to Argentina’s complex financial situation. But when President Javier Milei publicly promoted it, things changed fast. Investors mistook meme for mandate. With one tweet, the market cap soared past $4.4 billion.

But it wasn’t just hype. It was intentional misdirection.

The insiders knew. They always do.

Behind the scenes, developers and influencers had preloaded wallets, waiting to dump as soon as retail poured in. And dump they did.

In a rare move, Circle froze nearly $58 million in USDC across two wallets tied to the LIBRA team. This came after a U.S. federal court issued a temporary restraining order, signaling the scale of the fraud.



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US government sanctions Philippines firm over massive crypto scam infrastructure

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$5.6m stolen in FTX debt claims fraud



The U.S. Treasury Department on Thursday sanctioned Funnull Technology Inc., a Philippines-based firm allegedly at the center of a vast cyber fraud network enabling cryptocurrency scams. 

Funnull is accused of providing technical infrastructure for hundreds of thousands of websites linked to so-called “pig butchering” scams — complex social engineering schemes where fraudsters pose as romantic or financial partners to coax victims into fake crypto investments.

U.S. victims have reported more than $200 million in losses associated with Funnull-linked sites, with an average individual loss of over $150,000. Its administrator, Chinese national Liu Lizhi, was also sanctioned, according to the Treasury Department.

The sanctions, issued by the Treasury’s Office of Foreign Assets Control under Executive Orders 13694 and 14144, were coordinated with the FBI. The bureau is releasing a cybersecurity advisory to help private-sector partners identify and take down sites tied to Funnull’s infrastructure.

“These actions reflect our commitment to disrupting the networks that power cybercrime and target Americans,” Deputy Treasury Secretary Michael Faulkender said.

Crypto scamming and phishing 

According to Treasury officials, Funnull purchased IP addresses in bulk from cloud service providers and resold them to scammers hosting fake investment platforms and phishing sites. It also used domain generation algorithms to mass-produce web addresses and provided design templates, helping cybercriminals impersonate legitimate financial services.

In 2024, Funnull reportedly tampered with a code repository used by developers to secretly reroute web traffic from legitimate sites to scams and gambling platforms, some linked to Chinese money laundering operations.

Liu Lizhi allegedly managed operations at Funnull, including overseeing staff who assigned domains to scammers and maintained infrastructure supporting fraud, phishing, and illicit gambling.

The Treasury’s action follows a September 2023 alert by its Financial Crimes Enforcement Network warning of pig butchering scams and their ties to Southeast Asian crime groups exploiting victims of labor trafficking to carry out fraud.



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