crtypto & forex news

Talks of a potential altcoin season this cycle have since subsided compared to previous years, despite the recent decline in the Bitcoin (BTC) price and dominance. Notably, a crypto analyst has shared a new long-term chart showing the total altcoin market capitalization relative to Bitcoin at a level that has historically preceded major alt seasons. Based on his analysis, the alt market has fully reset and could be gearing up for a fresh altcoin season if historical trends play out as expected. Historic Alt Season Setup Forms As Bitcoin Ratio Hits Base Zone In a recent analysis on X, market expert @CyrilXBT shared a monthly chart tracking the ratio of the total crypto market, excluding the top 10 assets, to Bitcoin. According to the analysis, the chart currently sits at approximately 0.129, a level the analyst describes as the same base or accumulation zone that has launched every major altcoin season in crypto history.  @CyrilXBT noted that this zone is where all alt seasons...

Tether, the company behind the world’s most widely used stablecoin, USDT, has revealed that it has frozen approximately $4.2 billion worth of its tokens tied to suspected illicit activity, with the majority of those actions taking place over the past three years.  Tether Expands Crackdown On Criminal Use Of USDT Tether said that just this week, it assisted the US Department of Justice (DOJ) in freezing nearly $61 million in USDT connected to so‑called “pig‑butchering” scams — a type of fraud in which criminals build personal relationships with victims before persuading them to invest in fake cryptocurrency schemes. That latest action brought the total value of frozen USDT linked to alleged illicit activity to $4.2 billion. Of that amount, $3.5 billion has been blocked since 2023 alone, a Tether spokesperson said to Reuters in emailed comments late Thursday. Earlier in the week, Tether Chief Executive Officer Paolo Ardoino highlighted the company’s recent cooperation with US a...

Ethereum network dominance is turning out to be constructive rather than speculative as the blockchain expands beyond its Decentralized Finance (DeFi) stance. After dominating as a leader in on-chain finance, the network is now leading AI innovation. AI Innovation Accelerates On The Ethereum Network As the blockchain landscape expands, the Ethereum network is taking the spotlight in terms of Artificial Intelligence (AI) innovation. A recent report indicates that the blockchain is emerging as the primary hub for on-chain AI agents, suggesting an expansion beyond its roots in DeFi. Compared to other chains, ETH is gradually becoming the home for these projects, surpassing them by a long shot. More autonomous, revenue-generating AI systems are being constantly hosted and supported by the blockchain. As seen on the chart shared by Leon Waidmann, a data analyst and the head of research at Lisk, the number of AI agents on Ethereum has reached 27,315. Other major chains, such as Base,...

In terms of price action , Solana may be demonstrating a downside trend, but its ecosystem is signaling growing dominance in the Web3 sector. After seeing notable network performance, the blockchain now controls a significant portion of the total decentralized application (dApp) revenue. A Large Web3 dApp Earnings Covered By Solana With robust network coverage, Solana, one of the leading blockchains in the cryptocurrency sector, is rapidly cementing its position as a dominant force in the Web3 economy. This is a pivotal moment for the network during a weakening price performance, which could play a role in its price outlook. A recent report from SOL Strategies, a publicly traded company, discloses that Solana is dominating the web3 economy now by capturing a large share of all dApp revenue. As user activity increases and developers continue to expand throughout its ecosystem , it is becoming more evident that the network may produce actual economic value. Using data from Syndica, ...

Indiana is moving closer to formally embedding crypto into its public financial system after lawmakers approved House Bill 1042, commonly referred to as the Bitcoin Rights Bill. The legislation has cleared both legislative chambers and now awaits the signature of Governor Mike Braun. Related Reading: Binance Faces US Senate Inquiry Tied To $1.7 Billion In Sanctions-Related Transactions If enacted, the law would allow certain public investment programs to provide exposure to crypto through regulated ETFs and establish legal protections for individuals who use or hold digital assets. The measure reflects a broader shift among U.S. states as they explore how crypto fits within traditional finance. Public Funds and Retirement Plans Open to Crypto ETFs HB 1042 permits state-managed investment funds to include cryptocurrency ETFs as investment options rather than allowing direct token purchases. The approach aims to provide exposure through regulated financial products while maintainin...

Solana projects Step Finance and its sister platforms have announced they are winding down operations following an exploit last month. This also comes as crypto prices struggle amid the current bear market , with SOL still below the psychological $100 level.  Solana Projects To Wind Down Following Exploit And Amid Price Struggle In an X post , Solana DeFi aggregator Step Finance announced that it and its sister projects, SolanaFloor and Remora Markets, will be winding down all operations. This follows the hack towards the end of last month involving the firm’s treasury wallets , which resulted in a loss of around $40 million.  Related Reading: This Analyst Predicted Solana Sell-Off At $250, And Is Back With A New Prediction StepFinance stated that following the hack, they explored every possible path forward, including financing and acquisition opportunities. However, the Solana project was unable to secure a viable outcome, which is why it has decided to end all operatio...

After weeks stuck below a key psychological level, Ethereum (ETH) surged past $2,000 in a swift rally, pushing prices to $2,158 within a day. The recovery comes after a prolonged period of sideways trading around $1,900 and a broader correction that had pushed ETH more than 60% below its previous peak. The latest double-digit recovery coincided with a wider cryptocurrency market rebound, with total market capitalization rising by over 4% and Bitcoin also advancing during the same period. Ethereum ETF Inflows and Institutional Activity Drive Recovery Renewed institutional demand helped drive Ethereum’s breakout, as spot ETFs recorded fresh inflows after weeks of outflows. Daily investments topped $20 million in some sessions, with total inflows exceeding $125 million on February 25, led largely by Grayscale and Fidelity products. On-chain data also pointed to accumulation by large holders. Whale wallets added thousands of ETH while others withdrew significant amounts from exchange...