Coin overview
NOT
Ended--
Last price (USDT)
244.38K
24h total (USDT)
1.36M
Total vol (USDT)
2024-05-10 08:00:00 ~ 2024-05-16 11:30:00
Trading time (UTC+0)
2024-05-16 16:00:00
Delivery time (UTC+0)
Total supply102.45B
Resources
Introduction
Notcoin started as a viral Telegram game that onboarded many users into Web3 through a tap-to-earn mining mechanic.
President Trump Meme Coin Jumps as He Begs Israel Not to Break Ceasefire Deal
President Donald Trump’s official meme coin jumped 6% to a $1.8 billion market cap on Tuesday as he announced a ceasefire between Iran and Israel in the early hours of Tuesday. But that’s not been without its complications. The Israeli military’s chief of staff, Eyal Zamir, claimed that Iran immediately broke the ceasefire, according to The New York Times. Israel insisted that it would “respond with force,” which it did—all while Trump urged the nation not to break the ceasefire. Previously, Trump has reposted an article by conservative publication Newsmax, which claimed that his official meme coin was a tracker of the President’s performance and an alternative to polls. In this situation, it would suggest the public has reacted positively to both the supposed ceasefire that Trump helped organize and how he has dealt with both sides breaking the deal. “ISRAEL. DO NOT DROP THOSE BOMBS,” Trump wrote on Truth Social in all caps, five hours after his ceasefire announcement. “IF YOU DO IT IS A MAJOR VIOLATION. BRING YOUR PILOTS HOME, NOW!” President Trump is mad right now pic.twitter.com/VT5QzmiXgl — WF (@WhaleFUD) June 24, 2025 But it appears Israel wasn’t checking Truth Social before it dropped “those bombs.” Trump spoke to the media, claiming that the country “dropped a load of bombs, the likes of which we’ve never seen,” within a matter of hours of the deal being made. “We basically have two countries that have been fighting so long and so hard that they don’t know what the fuck they’re doing, you understand that?” Trump said in an explosive rant to the media. Some political commentators believe it showed strength, while others said it displays how angry he is at the situation. President Trump on Israel and Iran: "We basically have two countries that have been fighting so long and so hard that they don’t know what the fuck they’re doing." pic.twitter.com/xrztmebALZ — CSPAN (@cspan) June 24, 2025 Trump has continued posting on social media. The President claimed that “Israel is not going to attack Iran,” that its aircraft will turn around and head home, while doing a friendly plane wave to Iran.” He added that “Iran will never rebuild their nuclear facilities.” The proposed ceasefire follows the conflict between Israel and Iran that escalated when Israel launched a large-scale airstrike on Iran on June 13. Iran responded by firing its own missiles at Israel. Then on Sunday morning, the U.S. got involved by bombing an Iranian nuclear facility. It appears that Trump believed this would be the end of the conflict, but both Iran and Israel continue to fire missiles at each other. Edited by Stacy Elliott.
John Deaton Hints Ripple Could Beat Circle to Higher IPO Valuation
Crypto lawyer John E. Deaton has reignited speculation about a potential Ripple Initial Public Offering (IPO), arguing that the successful public debut of digital asset firm Circle has provided a clear benchmark for what Ripple could be worth. His analysis suggests that if Circle can command its high valuation, a $100 billion valuation for a Ripple IPO is not “far-fetched.” Deaton’s commentary centers on a direct comparison of the two companies’ financial strengths, emphasizing that Ripple’s massive XRP holdings give it a significant advantage. I know @bgarlinghouse said @Ripple is NOT in a rush to go public. They certainly don’t need to raise capital, which is often, a primary reason to go public. But TIMING an IPO is also a big consideration. If @circle can hit a 62B-75B market cap then @Ripple, with nearly 40B XRP,… https://t.co/MSFNMy6i8E — John E Deaton (@JohnEDeaton1) June 23, 2025 The Circle IPO as a Valuation Benchmark The core of the argument hinges on a simple comparison of market value. Circle, the issuer of the USDC stablecoin, has achieved a landmark public valuation, setting a new precedent for how digital asset companies are valued in public markets. Deaton’s take is that if the market values Circle at its current level, then Ripple, which possesses a fundamentally larger and more valuable balance sheet through its vast token holdings, could logically command an even higher valuation if it were to go public. Ripple’s Financial Firepower To support this case, the analysis points to Ripple’s own treasury. Ripple currently holds nearly 40 billion XRP, which, at a trading price of $2.15, translates to a valuation of around $80 billion. This estimate is based on today’s price and XRP’s circulating supply of 59 billion tokens. Notably, XRP’s market cap has now reached over $116 billion, underlining its position as a dominant force in the crypto sector. This substantial balance sheet means Ripple is not in urgent need of raising capital, allowing it to time any potential IPO strategically. However, the success of other crypto-related IPOs has made the prospect of a public listing more attractive. XRP Market and Technical Context This high-level valuation discussion is taking place against the backdrop of a cautious XRP market. The price of XRP is currently trading at $2.15, up 5.90% in the last 24 hours but still down 4.5% over the past seven days. The XRP Futures Open Interest data offers deeper insights into market behavior. Open Interest remained below $2 billion for most of 2024. Source: Coinglass But in late November, it surged rapidly, reaching $7.44 billion by early 2025. This increase mirrored XRP’s bullish price rally. As of June 23, Open Interest stands at $3.54 billion well above pre-rally levels indicating robust trader involvement. XRP/USD daily price chart, Source: TradingView However, while trader interest remains high, technical indicators suggest caution. The Relative Strength Index (RSI) at 32.68 signals that XRP is approaching oversold territory. Historically, such levels have triggered notable rebounds in price. While the MACD indicator currently suggests negative momentum, with both lines below zero, weakening bearish pressure hints at possible shifts. Additionally, the consistent engagement in futures trading shows traders are still positioning for further volatility, or possibly a recovery. Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.
Bitcoin eyes $104K CME gap as analysis says 'World War 3' off the table
Key points: Bitcoin joins US stocks in shrugging off Middle East tensions — something analysis says shows belief that the conflict will soon end. In a surprise turn, oil and gold face losses amid a lack of interest in safe havens. BTC price action has a new CME futures gap to fill, with a target of $104,000. Bitcoin ( BTC ) avoided fresh losses at the Monday Wall Street open amid belief that the Middle East conflict would soon end. BTC/USD 1-hour chart. Source: Cointelegraph/TradingView Bitcoin embraces odds of “short-lived conflict” Data from Cointelegraph Markets Pro and TradingView showed BTC/USD acting around $102,000, up 0.7% on the day. After hitting its lowest levels since early May , Bitcoin caught a bid near the cost basis of short-term holders at $98,000. Amid a major escalation of Middle East tensions with the involvement of the US, market commentators were on edge, fearing a fresh wave of losses as Wall Street returned. In the event, however, the opposite began to play out — stocks and Bitcoin gained, while gold tracked sideways and oil fell 1%. For trading resource The Kobeissi Letter, the message from markets was clear. “If we told you Iran's Parliament would vote to close Hormuz (pending Iran's Security Council approval), which controls 20% of global oil and gas, and oil and natural gas prices would be DOWN, you'd likely call us crazy,” it argued in part of ongoing analysis on X. “But, that's exactly what just happened, with oil prices going from up +5% to down -0.2% and natural gas prices now down -1.1%.” WTI crude oil 1-day chart. Source: Cointelegraph/TradingView Kobeissi added that even US President Donald Trump’s rhetoric over a change of government in Iran had failed to spark a run to safe-haven gold. “As we have reiterated, the world is NOT on the brink of World War 3,” it concluded. “Markets continue to expect a short-lived conflict.” Source: Kalshi Informal prediction platforms likewise heavily favored a swift de-escalation, with Kalshi showing 92% odds of US-Iran diplomacy beginning before next month. In its latest bulletin to Telegram channel subscribers, trading firm QCP Capital flagged technical signals underscoring investor confidence. “Put skew remains elevated through September, but the strong spot bounce and compression in frontend vols signal that investors are largely dismissing broader contagion risks for now,” it reported. “The same tone is echoed in traditional markets. US stock futures, oil and gold initially reacted to the headlines, but have since retraced to Friday levels. This suggests that investors are interpreting the situation as a regional flashpoint rather than a global risk event.” BTC price “holding strong for now” Bitcoin traders, meanwhile, saw grounds for cautious optimism over the local BTC price bottom being in. Related: $92K dip vs ‘short-lived war’ — 5 things to know in Bitcoin this week “Bitcoin is holding strong for now. I think this week will be very interesting,” popular trader Crypto Caesar told X followers on the day. BTC/USDT 1-day chart. Source: Crypto Caesar/X Fellow trader Merlijn described a “textbook” inverse head-and-shoulders pattern playing out on BTC/USD. Everyone’s calling for Bitcoin to hit $60K. $BTC fear is loud. But the chart is painting a different story. This is a textbook Inverted Head & Shoulders. Classic structure. Classic reversal. You either spot it early… or fade the breakout. pic.twitter.com/ieLupBifuF — Merlijn The Trader (@MerlijnTrader) June 23, 2025 Referring to the “gap” left in CME Group’s Bitcoin futures market over the weekend, trader Daan Crypto Trades eyed the potential for a relief rally continuing toward $104,000. “Opened up with a large ~4K CME Gap today. Over half of that has already been filled with the full gap fill sitting up to $103.6K,” he noted in part of an X post on the topic. “Generally we've seen gaps fill early in the week when they have been created over the past few months.” CME Bitcoin futures 1-hour chart. Source: Daan Crypto Trades/X 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.
Cointelegraph Website Hacked: Used to Promote Fake Airdrops
One of the largest crypto news companies, Cointelegraph, encountered a security exploit today, with its front-end taken over by attackers to promote fake ICO airdrops. A number of users claimed that the website’s homepage displayed fraudulent pop-ups promoting fake “CoinTelegraph ICO Airdrops” and “CTG tokens.” 🚨 WARNING: @Cointelegraph HACKED This is getting crazy now! I don’t know much about securing your UI but with @CoinMarketCap and now @Cointelegraph getting hit with the same thing, it might make sense to take a review your security protocols if you have ANY type of crypto… pic.twitter.com/2WUmGNzi1l — Dave (Ø,G) (@DCBK2LA) June 23, 2025 Confirming the front-end attack, Cointelegraph’s X handle urged users not to click on any pop-ups, connect wallets, or share personal information, as the platform works to resolve the breach. 🚨 ALERT: We are aware of a fraudulent pop-up falsely claiming to offer “CoinTelegraph ICO Airdrops” or “CTG tokens” that are appearing on our site. DO NOT: – Click on these pop-ups – Connect your wallets – Enter any personal information We are actively working on a fix. — Cointelegraph (@Cointelegraph) June 23, 2025 At the time of publishing, Cointelegraph’s official domain was showing a warning ahead of visiting the homepage for those who have installed the MetaMask wallet. This critical message shows that opening the website might risk users’s secret recovery phrases or passwords, or it might urge them to sign malicious transactions resulting in stealing assets. The phishing scam mirrors a recent attack on CoinMarketCap , where users lost significant funds after connecting their wallets to malicious sites. While hackers followed the same pattern and exploited a front-end vulnerability in CoinMarketCap’s homepage, it’s likely that the hacker entity is the same in both cases. Moreover, the timing of this breach also coincides with a massive data leak reported by Cybernews on June 21, where over 16 billion login credentials were exposed. Cybersecurity experts suggest this could be linked to infostealer malware, amplifying the risk for crypto users. Follow The Crypto Times on Google News to Stay Updated!
Metaplanet Buys Bitcoin, Saylor Teases More as BTC Recovers
Bitcoin’s corporate narrative resurfaced Monday as MicroStrategy co-founder Michael Saylor reignited momentum behind ‘Bitcoin Sovereignty.’ Saylor’s post ‘How many companies have a path to Bitcoin Sovereign?’ on X came hours after Tokyo-listed Metaplanet announced buying 1,111 Bitcoins, raising its total to 11,111 BTC. How many companies have a path to Bitcoin Sovereign? — Michael Saylor (@saylor) June 23, 2025 Timing and Speculation on New Purchases The timing was not coincidental. For months, analysts have tracked MicroStrategy’s habit of announcing fresh Bitcoin buys early in the week after the cryptic posts during the weekends. Sponsored Although no new filing was made on Monday, Saylor’s cryptic message and earlier chart posts stoked speculation that another purchase may be imminent. His phrase, “Nothing stops this orange,” posted Sunday night, further fueled the fire. Nothing Stops This Orange pic.twitter.com/NwtiXWl4MT — Michael Saylor (@saylor) June 22, 2025 Market Turbulence Amid Geopolitical Tensions The move comes amid turbulence in the crypto markets, with Bitcoin slipping below $100,000 due to geopolitical uncertainty and macroeconomic tension after a weekend U.S. military strike targeting Iranian nuclear facilities triggered widespread fear. Tensions escalated when Iran’s parliament threatened to close the Strait of Hormuz, a vital oil route. Fears of a supply shock sparked concerns about inflation and triggered a broad risk-off shift, driving investors away from assets like Bitcoin. The Bitcoin price slid to a low of $98,300 before recovering, when more than $1.79 billion in leveraged long positions were liquidated. The Bitcoin price slid below $ 100,000 on Monday. Source: CoinMarketCap Bitcoin has been in a five-week consolidation phase, with three failed attempts to break above $110,000. The world’s dominant crypto has lost more that 5% over the past 7 days, however Bitcoin Dominance metric is once again hoovering around 64.9%. as per CoinMarketCap. Market Outlook Amid Oil and Gold Movements Despite weekend U.S. airstrikes on Iran’s nuclear facilities sparking fears of soaring oil prices and a stock market selloff, market reactions by Monday remained surprisingly muted. Analysts are now cautiously optimistic about a quick return to stability. Oil futures initially surged past $80 a barrel, but prices soon pulled back as investors reassessed the situation. Gold prices also dipped amid the evolving outlook. According to a recent post from Kobeissi Letter on X, oil prices are still well below levels that would indicate expectations of a prolonged Middle East conflict. “This is NOT a market that is pricing in a long-term conflict,” Kobeissi Letter wrote. “Objectively, the market is still expecting a short-lived war.” Why This Matters As Bitcoin continues to consolidate amid macro uncertainty and corporate conviction, the moves by players like Metaplanet suggest that the “Bitcoin Sovereign” narrative may be entering a new chapter. Explore DailyCoin’s popular crypto news: Texas Approves Bitcoin Reserves. Here’s What Makes It Different Trump Family Pulls Back from World Liberty Financial, Forbes Reports People Also Ask: What is the “Bitcoin Sovereign” narrative about? The concept primarily focuses on companies gaining financial independence and security by embracing Bitcoin as a primary reserve asset, thereby reducing their reliance on fiat currencies and traditional financial systems. Why do companies hold Bitcoin in their reserves? Companies view Bitcoin as a hedge against inflation, currency devaluation, and geopolitical instability. It also diversifies their balance sheet and signals innovation to shareholders. How do companies buy Bitcoin for their reserves? Corporations typically purchase Bitcoin through over-the-counter (OTC) desks, exchanges, or Bitcoin funds, often disclosing purchases via public filings.
Real Estate Mogul Grant Cardone Announces 1,000 Bitcoin Purchase for New BTC Treasury
Grant Cardone’s real estate investment firm is buying into Bitcoin ( BTC ). The outspoken real estate investor notes that Cardone Capital added approximately 1,000 BTC to its balance sheet. Cardone says the firm is the “first ever real estate/BTC company integrated with full BTC strategy, combining the two best-in-class assets.” He also says the firm plans to add another 3,000 BTC to its balance sheet this year. With BTC trading at $105,400 at time of writing, Cardone Capital’s 1,000 BTC investment is currently worth $105.4 million. The top-ranked crypto asset by market cap is up more than 4.5% in the past 24 hours. Cardone says the concept of saving money will just cause investors to lose purchasing power. “You can NOT save money! You either spend it, lose it or invest it. There is NO such thing as saving. Every US Dollar should come with ‘saver beware’ warning, ‘The purchasing power of this note will decline in purchasing value.'” Cardone Capital currently sports a portfolio of more than 14,200 units with a total value of $5.5 billion, per the firm’s LinkedIn account. The firm raises money from the public by launching equity funds available for retail traders. Cardone says the firm also plans to add 5,000 additional units this year. Follow us on X , Facebook and Telegram Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox Check Price Action Surf The Daily Hodl Mix Generated Image: Midjourney
Dow Jones, major indices up amid delicate Iran-Israel ceasefire
The Dow Jones Industrial Average, S&P 500, and Nasdaq all opened in the green on Tuesday, June 24, as Wall Street weighed the strength of the Israeli-Iran ceasefire. The Dow opened 280 points, or 0.6% higher, while the S&P 500 gained 0.7%. Meanwhile, the Nasdaq Composite rose 1%. Notably, stocks had closed higher on Monday after President Donald Trump announced that Israel and Iran had agreed to a ceasefire to end what he described as a “12-day war.” This pause in hostilities, taken as a sign of easing tensions, propelled risk assets higher, including crypto . Bitcoin ( BTC ) reclaimed $105k as a cheery market responded. Elsewhere, oil prices dipped. Israel, Iran violate ceasefire Market sentiment has already signaled a bullish outlook in relation to a ceasefire and end to the war. However, jitters remain and the gains are not wild. On the concerns list for most traders is the Middle East situation. Israel-Iran remains top of investors’ factors to consider because Israel accused Tehran of violating the ceasefire, vowing a major response. President Trump nonetheless has strongly urged Israel to “not drop the bombs” and to bring its pilots home. “ISRAEL. DO NOT DROP THOSE BOMBS. IF YOU DO IT IS A MAJOR VIOLATION. BRING YOUR PILOTS HOME, NOW!’ Trump wrote on Truth Social. Investors may be cautious amid this unfolding Israel-Iran situation, with prospects of an end to hostilities likely to catalyze gains. Fresh triggers to the conflict, including counter-attacks or U.S. re-entry would spook investors. “The United States is right to put pressure on both sides to comply with the ceasefire,” Michèle Flournoy, former Under Secretary of Defense, told CNBC in an interview . Flournoy however says the conflict is “far from over.” What else are investors watching? Beyond geopolitical tensions, markets are also watching macroeconomic indicators, especially upcoming tariff negotiation deadlines and potential shifts in interest rates. Positive developments on either front could provide fresh momentum for equities. This week, attention turns to Federal Reserve Chairman Jerome Powell, who is scheduled to speak Wednesday before the Senate Banking Committee. With the Fed under pressure , Powell’s remarks will be closely parsed for signals on future policy direction.
Cointelegraph Hit by Front-End Exploit, Fake Phishing Airdrop Pop Up on Website
What to know: Cointelegraph's website was compromised by a front-end exploit, leading to a malicious pop-up offering fake 'CoinTelegraph ICO Airdrops' and 'CTG tokens.' The fraudulent banner urged users to connect their crypto wallets, falsely promising $5,500 in tokens, and cited a bogus CertiK audit to appear legitimate. Cointelegraph warned users not to click on the pop-ups or provide personal information, as attackers have used similar tactics on other platforms like CoinMarketCap. Crypto media outlet Cointelegraph has confirmed its website was compromised by a front-end exploit on Sunday, with attackers injecting a malicious pop-up that falsely claimed to offer “CoinTelegraph ICO Airdrops” and “CTG tokens.” The fake banner urged readers to connect their crypto wallets in exchange for nearly $5,500 worth of tokens, citing a “fair launch” event and a bogus CertiK audit to lend legitimacy to the scam. “Do not click on these pop-ups, connect your wallets, or enter any personal information,” Cointelegraph warned in a post on X, adding that it was “actively working on a fix.” 🚨 ALERT: We are aware of a fraudulent pop-up falsely claiming to offer “CoinTelegraph ICO Airdrops” or “CTG tokens” that are appearing on our site.DO NOT:- Click on these pop-ups- Connect your wallets- Enter any personal informationWe are actively working on a fix. — Cointelegraph (@Cointelegraph) June 23, 2025 Victims are typically tricked into connecting wallets for token claims, identity verification, or loyalty rewards — only to have their funds siphoned immediately after. The tactic mirrors a nearly identical exploit on CoinMarketCap two days earlier , where attackers embedded similar code to serve wallet phishing prompts. In both cases, the attack relied on hijacking trusted platforms to bypass user skepticism — turning news and data sites into unwitting vectors for wallet drainers.
Crypto Scam: Binance’s CZ Speaks on CoinMarketCap, Cointelegraph Security Breach
Key Notes Hackers have shifted focus from exchanges to targeting high-traffic cryptocurrency information websites like CoinMarketCap and Cointelegraph. Both incidents involved JavaScript-based exploits embedded via advertising infrastructure. Scam Sniffer traced the malicious code to a domain mimicking AdButler, using banner ads to deliver hidden scripts. Crypto scams are evolving. After previously targeting crypto exchanges and trading platforms, hackers are now focusing on popular information sites like CoinMarketCap and Cointelegraph to reach daily visitors. Binance founder Changpeng Zhao has also highlighted this shift, urging users to remain vigilant and cautious when approving wallet connection requests. The recent development comes soon after the $82 million hack last week of Iranian crypto exchange Nobitex . 2 days ago CMC, now CT. Hackers are targeting information web sites now. Be careful when authorizing wallet connect. For CMC, based on initial on-chain analysis, there are 39 victims with a combined loss of $18,570. @CoinMarketCap will cover all losses. https://t.co/egkekyjAYQ — CZ 🔶 BNB (@cz_binance) June 23, 2025 CoinMarketCap Faces Exploit in Latest Crypto Scam CoinMarketCap faced a massive exploit on June 20. The crypto data provider faced a front-end breach that caused a fake wallet prompt to appear on its homepage. The vulnerability was traced to an unauthorized JavaScript embedded within a doodle image, which temporarily disrupted the platform’s interface. The platform promptly acknowledged the issue and responded swiftly, stating: “Our security team identified a vulnerability related to a doodle image displayed on our homepage. This doodle image contained a link that triggered malicious code through an API call, resulting in an unexpected pop-up for some users when visiting our homepage.” On June 20, 2025, our security team identified a vulnerability related to a doodle image displayed on our homepage. This doodle image contained a link that triggered malicious code through an API call, resulting in an unexpected pop-up for some users when visited our homepage.… — CoinMarketCap (@CoinMarketCap) June 21, 2025 In a similar exploit on Sunday, June 22, popular crypto news publication Cointelegraph confirmed a front-end security breach wherein users were exposed to a malicious pop-up which requested on connecting their crypto wallets. 🚨 ALERT: We are aware of a fraudulent pop-up falsely claiming to offer “CoinTelegraph ICO Airdrops” or “CTG tokens” that are appearing on our site. DO NOT: – Click on these pop-ups – Connect your wallets – Enter any personal information We are actively working on a fix. — Cointelegraph (@Cointelegraph) June 23, 2025 On June 22, scammers launched a fraudulent campaign promoting a fake Cointelegraph token (CTG) and a counterfeit initial coin offering (ICO). Related article: Crypto Investor Suffers $2.6 Million Loss in Stablecoins Through Sophisticated Double Phishing Scam The breach was first flagged by blockchain security platform Scam Sniffer, which revealed that the attackers sought to trick users into granting wallet access. Once connected, the attackers could drain assets from the compromised wallets. 🚨 CoinTelegraph's frontend has been compromised. Please be cautious. pic.twitter.com/sH025Zek8p — Scam Sniffer | Web3 Anti-Scam (@realScamSniffer) June 23, 2025 Exploiting JavaScript Codes Scam Sniffer identified the exploit as originating from a malicious JavaScript payload embedded through the site’s advertising infrastructure. The code was traced to a domain mimicking AdButler, which had been recently registered and used to deliver a hidden malicious script within a banner advertisement. Although the messages on each site varied, both incidents employed a nearly identical delivery method: a deceptive pop-up masquerading as a legitimate platform feature. This seems like a coordinated campaign leveraging ad-based JavaScript exploits to target high-traffic cryptocurrency websites. next Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
CoinMarketCap Suffers Security Breach, Warns of Phishing Risk
Key Takeaways: Main event highlights CoinMarketCap’s security breach. Users urged to avoid phishing attempts. Immediate community response helps limit impact. CoinMarketCap Suffers Security Breach, Warns of Phishing Risk In a recent incident, CoinMarketCap experienced a front-end security breach on June 20, 2025. Unauthorized pop-up prompts aimed to deceive users into “verifying wallets,” highlighting significant phishing risks. CoinMarketCap’s breach underscores vulnerabilities in cryptocurrency data platforms, affecting user trust. Quick response minimizes immediate financial harm, though vigilance is crucial. The incident involved CoinMarketCap’s platform , where a security breach allowed malicious pop-ups to target users. The pop-ups, discovered on June 20, 2025, urged users to “Verify Wallet” to steal assets from wallet connections. The CoinMarketCap team quickly issued warnings via their official X account, advising users to avoid interacting with the phishing prompts. “We’re aware that a malicious pop-up prompting users to ‘Verify Wallet’ has appeared on our site. Do NOT connect your wallet. Our team is actively investigating and working to resolve the issue.” — CoinMarketCap Official, Social Media Team Security researchers found the intrusion linked to the manipulation of backend API data through the “doodles” feature, resulting in the injection of malicious JavaScript. The absence of direct comments from CMC’s top executives did not diminish user and developer vigilance on platforms like X. While quick alerts helped prevent large-scale fund losses, the breach remains concerning. Immediate effects were focused on preventing wallet access approval, especially for Ethereum-based ERC-20 tokens. Community warnings and alerts from wallet extensions like MetaMask and Phantom helped avert potential asset losses. ERC-20 tokens were at risk due to the phishing tactic, which echoes past phishing attacks targeting similar platforms. Market reactions were muted as the prompt nature of alerts helped contain potential thefts. However, the event amplified discussions on security and the need for advanced protection measures. Historical precedents show similarities to previous attacks on Web3 platforms and stress the importance of robust security strategies. As responses continue to focus on reinforcing platform security, CoinMarketCap and users are advised to remain vigilant for further developments. Trends point toward increased demand for security measures on cryptocurrency data platforms to safeguard against technological and financial vulnerabilities.
Nigeria SEC warns against unregistered crypto platform CMTrading
Nigeria’s Securities and Exchange Commission (SEC) has issued a warning to the general public regarding the CMTrading trading platform. According to the regulatory agency, the platform is unregistered and as such is not fit to offer trading or financial services to residents in the country. In its statement, the Commission said that the platform reportedly claims to be affiliated with GCMT South Africa Pty Ltd, which is allegedly licensed by the Financial Conduct Authority (FSCA) of South Africa and the Financial Services Authority (FSA) of Seychelles as a securities dealer. The Nigerian SEC also said that the platform, which has been offering crypto and commodities trading services, also cloned websites of media outlets like Punch, Vanguard, and Arise Television, attracting unsuspecting users. Nigeria SEC issues warning against CMTrading According to the SEC, the alert was necessary over concerns of a rise in fraudulent activities in Nigeria’s capital market. The commission said that aside from using cloned versions of these websites to attract users, it also uses fake videos of prominent Nigerians praising its platform on social media, promising monetary benefits to subscribers,” the agency said. The SEC mentioned that the platform was not registered to solicit investments from the public or operate in any capacity within the Nigerian capital market. See also Raoul Pal says current crypto cycle is similar to 2017 “The Commission hereby informs the public that the CMTrading is NOT REGISTERED by the Commission either to solicit investments from the public or operate in any capacity within the Nigerian capital market,” the statement read. In addition, the SEC mentioned that investigations showed that CMTrading’s mode of operation exhibited signs of a Ponzi scheme . The commission highlighted that the platform usually promises its Nigerian users an unusually high amount of returns, noting that it also relies on a form of referral system to sustain payouts. The agency said it also employed the use of fake websites and proof of investments to entice users into making investments. The agency wants the public to be cautious In its statement, the Nigerian SEC advised the public to be cautious about investing with CMTrading, noting that anyone engaged with the entity or a representative of the platform does so at their risk. The agency also warned users to check the registration status of any investment platform on its official verification website, drumming up the need for users to protect themselves from fraudulent elements. It urged the public to use these official verification portals: https://home.sec.gov.ng/fintech-and-innovation-hub-registered-fintech-operators, and https://www.sec.gov.ng/cmos. This is not the first warning the SEC has issued to the general public in the last few weeks. Last week, the SEC also issued a warning against an unregistered crypto project known as Punisher Coin ($PUN), describing it as a meme coin with no real-world use. See also Facts surrounding Trump's sons and Justin Sun's Tron tied to Dominari Securities The SEC mentioned that the Punisher Coin fit the normal pattern of tokens associated with pump-and-dump schemes, where investors are lured in with the promise of making money through hype and left with worthless assets after the developers might have pulled liquidity, leading to the token crashing. The coin was said to have been marketed through unauthorized means, with the developers using an aggressive online promotion to target unsuspecting Nigerian investors. Nigeria has been making moves to combat unregistered platforms and projects while carrying out actions against illegal operators. For instance, the EFCC recently finalized a case where it charged some foreign nationals accused of carrying out crypto investment scams in the country. The foreign nationals were imprisoned for a year each, with the court ordering them to pay one million (approximately $645) in fines. KEY Difference Wire helps crypto brands break through and dominate headlines fast
Hackers Briefly Compromise CoinMarketCap’s Homepage – Is It Safe Now?
Crypto data provider CoinMarketCap has recovered from a brief security lapse. The incident exposed website visitors to a deceptive pop-up urging them to connect their crypto wallets. The June 20 incident disrupted the platform’s front-end interface for a few hours before the team took corrective action. CoinMarketCap’s Breach Traced to Malicious Doodle According to the company, the breach involved an unexpected pop-up on its homepage, instructing users to verify their wallets to access full account features. “We’re aware that a malicious pop-up prompting users to ‘Verify Wallet’ has appeared on our site. Do NOT connect your wallet,” the data aggregator warned. While the message mimicked legitimate functionality, security analysts quickly warned that the request was malicious and likely intended to compromise user wallets. The Malicious Pop-Up Message on CoinMarketCap Homepage. Source: X/Jameson Lopp In a follow-up update, CoinMarketCap revealed that the issue stemmed from a doodle image embedded on its homepage. The image was linked to an external call that triggered unauthorized JavaScript, resulting in the suspicious wallet prompt. “On June 20, 2025, our security team identified a vulnerability related to a doodle image displayed on our homepage. This doodle image contained a link that triggered malicious code through an API call, resulting in an unexpected pop-up for some users when visited our homepage,” CoinMarketCap explained. Investigators found that the breach may have originated from a compromised third-party service, likely an ad network. This service injected malicious code into the platform’s display system. Meanwhile, CoinMarketCap clarified that external dependencies used to serve content—not its internal infrastructure—caused the issue. The platform confirmed that all affected scripts and assets had been removed, and new safeguards were introduced to prevent similar exploits. It also assured users that the situation was under control and that visiting the site is now safe. “We’re actively monitoring user feedback and our support team is standing by to ensure all inquiries are promptly addressed. We are committed to maintaining the highest standards of security and transparency, and we thank you for the continued trust of our community,” it added. CoinMarketCap, owned by Binance, continues to serve millions of users who track real-time crypto prices and market data. However, this episode reminds us that even the most established platforms must remain proactive in protecting users from increasing threats. Due to this, security experts have urged crypto wallet users to always take precautions by constantly reviewing recent activity and avoiding connecting to unknown dApps or prompts. So far this year, hackers have aggressively targeted vulnerabilities across even the most reputable platforms. Combined, these breaches have led to over $2 billion in stolen assets, including a massive $1.4 billion exploit on Bybit.
Top 3 Altcoins Trending in Nigeria Today
The global crypto market is showing early signs of recovery today, with top assets like Bitcoin and Ethereum posting modest gains over the past 24 hours. Retail interest in Nigeria, where local traders continue to drive significant search and social activity around emerging tokens, is also picking up. Based on online engagement over the last 24 hours, here are the top three trending cryptocurrencies in the region. Notcoin (NOT) Telegram-linked altcoin NOT is one of the most searched assets in Nigeria today. At press time, the token trades at $0.0019, down 1% over the past day. During this period, NOT’s trading volume has declined by over 30%, showing a notable drop in market demand, even as the broader crypto market attempts a modest recovery. A simultaneous decrease in an asset’s price and trading volume signals waning interest or consolidation. It suggests that buyers are stepping back, and momentum is fading. If this continues, the altcoin risks plunging toward $0.0018. NOT Price Analysis. Source: TradingView On the other hand, if buying pressure rises, the token’s price could climb to $0.0021. Hamster Kombat (HMSTR) Since peaking at an intraday high of $0.0025 on June 9, HMSTR, one of the altcoins trending in Nigeria today, has lost 60% of its value. At press time, the meme coin trades at $0.00080, down 2% over the past day. On the daily chart, the token’s BBTrend confirms the bearish trend. Since May 30, this momentum indicator has posted only red histogram bars, highlighting the prolonged sell-side pressure. At press time, it stands at -24.82. The BBTrend measures the strength and direction of a trend based on the expansion and contraction of Bollinger Bands. When it returns red bars, it signals strong bearish momentum, indicating that the price is consistently closing near or below the lower Bollinger Band. This suggests sustained downward pressure and a lack of bullish reversal signals in the short term for HMSTR. In this case, its price could fall to revisit its all-time low of $0.00076. HMSTR Price Analysis. Source: TradingView However, if HMSTR sees a surge in demand, it could rebound toward $0.00094. Zen AI (ZENAI) ZENAI is another altcoin trending in Nigeria today. Down 27%, it exchanges hands at $0.0013 at the time of writing. The ZENAI token, which launched on June 3, 2025, through Pump.fun, captured market attention as its holder count and trading volume surged. By June 8, it had soared to an all-time high of $0.00042. However, following the rally, a wave of profit-taking triggered a sharp correction, with the token now down more than 60% from its peak. If selloffs continue, ZENAI could drop to $0.000093. ZENAI Price Analysis. Source: TradingView Conversely, if the market sentiments shift and demand rises, the token’s value could climb to $0.0016.
The Verdict vs. The Pattern: Two Powerful Forces Are Set to Decide XRP’s Fate
Prominent crypto chartist EGRAG Crypto has issued a bold forecast, for XRP, drawing attention to a historical pattern that may be repeating, and it could send XRP soaring while the XRP community braces for the long-awaited ruling in the Ripple vs. SEC lawsuit. The forecast and the ongoing legal uncertainty present two distinct and powerful XRP narratives, with a bullish technical outlook tempered by an unpredictable regulatory backdrop. The RGB Arcs and the “Kaboom Phase” EGRAG’s analysis, shared in a recent post on X (formerly Twitter), centers on what he calls the “RGB ARCHS,” a colorful logarithmic framework built from red, green, and blue curved trend lines representing long-term price dynamics of XRP since 2013. In his chart, which spans over a decade of XRP price data, three critical market cycles are highlighted: 2013 top (first peak hitting the blue arc), 2018 mega rally (again touching the upper blue band), and a potential 2025 blow-off top, aimed at a level between $22.31 and $27.00, with a more euphoric spike possibly reaching $38.00. What makes this setup even more striking is the observation that in 2017, XRP took only six monthly candles to explode upwards from consolidation to its all-time high. Now, according to EGRAG, XRP has been consolidating for 7 candles, forming a symmetrical triangle, a classic technical formation that often precedes major breakouts. “Get ready for the ‘KABOOM Phase’! Whether it rises or falls, it’s gonna be explosive,” EGRAG wrote. Related: XRP Price Prediction for June 20, 2025 XRP Targets If history repeats, EGRAG’s chart implies a massive parabolic move could be on the horizon. $22.31 is the base target along the green arc intersection with the blue upper arc. The core target if XRP mirrors the 2018-style breakout stands at $27. Source: EGRAG Crypto Given XRP’s current monthly candle at $2.17, this would represent a 10x to 17x move from present levels. EGRAG, a self-professed “#PERMABULL” on XRP, urges the community to remain patient and strong. Ripple Lawsuit Update: Timing Is Everything While the technical setup looks promising, XRP’s legal backdrop remains volatile. Speculation recently swirled that Judge Analisa Torres may delay the ruling in the Ripple vs. SEC case until August 15. However, former SEC attorney Marc Fagel quickly pushed back on that narrative. “The SEC case is NOT delayed until August 15,” Fagel clarified, adding that Judge Torres can issue her decision “in hours, days, or weeks,” but not necessarily by any specific date. The confusion stems from a joint motion by Ripple and the SEC asking to pause the appeals process until mid-August, fueling rumors of a timeline shift. But Fagel emphasized that no definitive schedule has been set. The SEC case is NOT delayed until August 15. The district court judge can rule on the motion pending before her in hours, days, or weeks (or months or years, for that matter, but it obviously won't come to that). — Marc Fagel (@Marc_Fagel) June 18, 2025 Related: Ripple-Backed XRP ETF Now Trading on Toronto Stock Exchange With Zero Fees In fact, he warned that the case remains highly unpredictable, with both outcomes, approval or denial of Ripple’s motion to dissolve the injunction, still on the table. Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.
Oil Prices Surge Amid US-Iran Military Tensions
Key Takeaways: US-Iran conflict potentially escalates; markets react swiftly. Oil prices surge over 5% due to tensions. Crypto markets likely to experience increased volatility. Oil Prices Surge Amid US-Iran Military Tensions US-Iran military tensions escalate as reports suggest US military intervention. Oil prices increased five percent. Geopolitical tensions affect oil and global markets, potentially leading to volatility in the crypto sector. US military and Iranian conflict intensify following Israeli strikes on Tehran. Oil prices have risen by over five percent, driven by fears of US involvement. Reports suggest increased military readiness in response to escalations in the region. The US administration and the military under directives of President Joe Biden are shifting assets to the Gulf region. The geopolitical dispute includes Iran’s IRGC and Israel’s military actions targeting Iran’s defense installations, causing mounting tensions. Oil price jumps create ripple effects across economic sectors. Cryptocurrency assets, particularly Bitcoin and Ethereum, may see volatility with entrepreneurs reallocating funds. Institutional investors often seek safe havens amidst such situations. Financial implications are substantial for global markets, influencing commodity prices and financial asset valuations. Meanwhile, political pressures could lead to further military action, causing broader economic concerns. Major market players observe historical precedents, recalling how past US-Iran conflicts impacted commodities and digital assets. Bitcoin’s historic reactions serve as a data point for potential trends. IRAN CAN NOT HAVE A NUCLEAR WEAPON. I said it over and over again! Everyone should immediately evacuate Tehran! — Donald Trump, Former US President, Truth Social .
Telegram's Pavel Durov allowed to leave France for second time since his August 2024 detention: report
French authorities permitted Telegram founder and CEO Pavel Durov to leave France for the second time since his August 2024 detention, as he is under investigation for the alleged illicit activity on the messaging platform. Durov can travel only to Dubai, where Telegram is headquartered, and only for 14 consecutive days starting on July 10, French newspaper Le Monde reported Thursday. In March, French authorities allowed Durov to travel to Dubai for only a few weeks. Aside from business matters, Durov has personal reasons to travel to Dubai. "I have a son who was just born and I'm missing the first months of his life. He still doesn't have a passport, because I wasn't present at his birth in Dubai. I also have a teenage son who is in a boarding school in Dubai, who just broke his arm, and who has no parent by his side to support him," Durov told the conservative French newspaper Le Point. Agents of France's National Anti-Fraud Office arrested Durov on Aug. 24, 2024, related to a large-scale cybercrime investigation, alleging the Telegram CEO enabled illicit activities such as providing cryptography tools and services, spreading pornographic materials of minors, and money laundering, The Block previously reported. Telegram is a secure messaging platform that supports the Layer 1 blockchain The Open Network ( TON ). The network's native token, Toncoin, traded at $2.93 as of writing and recorded $128.4 million in trading volume in the past day, The Block's TON Price Page shows. The token maintains a market capitalization of $7.2 billion. Toncoin and TON saw rapid growth in the summer of 2024, largely due to blockchain-based mini apps, such as Hamster Kombat and Notcoin , within the messaging platform. The number of active TON addresses peaked at 1.44 million on Oct. 2, 2024, and now sits at 130,000 as of June 17, The Block's Data Dashboard shows.
Bitcoin holds green, gold rips, and stocks plunge after Trump sided with Israel against Iran
Markets took a beating early Tuesday after President Donald Trump warned Americans to leave Tehran and doubled down on backing Israel in the war it started with Iran. The effect was instant. Dow futures dropped 136 points, the S&P 500 lost 0.34%, and the Nasdaq 100 slipped nearly 0.4% before the market opened. Crude oil futures jumped 2% overnight, with West Texas Intermediate leading the charge as investors reacted to growing geopolitical risks. Meanwhile another post from Trump followed, and it read: “Iran should have signed the ‘deal’ I told them to sign. What a shame, and waste of human life. Simply stated, IRAN CAN NOT HAVE A NUCLEAR WEAPON. I said it over and over again!” The market didn’t wait to interpret that. Stocks dropped as crypto held strong Earlier Monday, Wall Street had actually closed with gains. The Dow Jones Industrial Average added over 300 points, the S&P 500 climbed about 0.9%, and the Nasdaq Composite gained 1.5%. That short-lived rally was driven by easing oil prices after the spike on Friday that followed Israel’s airstrikes on Iran. Both Brent crude and West Texas Intermediate settled more than 1% lower during Monday’s session before bouncing back overnight on Trump’s warnings. Source: TradingView Meanwhile, Bitcoin remained above $107,000, having retaken that level earlier on Monday. The leading crypto asset didn’t flinch despite the turmoil across equities. See also Japan’s Remixpoint scoops up 887.3M JPY in BTC, aiming for 1,000 coins amid company pivot At the same time, gold retreated to $3,393, falling below the $3,400 level. Traders had expected the usual safe haven behavior, but Bitcoin held firmer than gold this round, though that isn’t really impressive. By last night, the Israel-Iran war had entered its fourth day. NBC News reported that Iran reached out to Saudi Arabia, Qatar, and others asking them to push Trump for a ceasefire. The request reportedly included Iran’s offer to show flexibility on nuclear negotiations if the White House pressured Israel to back down. Trump instead made clear he wouldn’t budge and took a public, hard-line stance. Source: TradingView Jeff Buchbinder, chief equity strategist at LPL Financial, explained that Israel’s main focus is stopping Iran from becoming a nuclear threat. He added that the longer-term objective may be regime change in Tehran, though it’s unclear whether that’s achievable. Jeff said that while every conflict is unique, data from 25 geopolitical events since 1941—including the Pearl Harbor attack—shows an average stock market drop of 4.6% over about 19 days, with recovery usually taking around 40 days. The current dip in futures may just be the beginning if the escalation continues. Investors are also watching domestic economic data closely. Retail sales numbers for May are due Tuesday, and that could give further insight into consumer demand amid inflation worries. But the real focus is on the Federal Reserve’s policy meeting scheduled for Wednesday. See also Coinbase launches One Card, promising 4% Bitcoin back on every purchase The CME FedWatch tool shows traders are betting heavily that the Fed will keep interest rates steady, sticking with the 4.25% to 4.50% range. That decision, however, may not be enough to calm markets already rattled by events in the Middle East. KEY Difference Wire helps crypto brands break through and dominate headlines fast
Investors Shun US Bonds as Hopes for Fed Rate Cuts Fade | US Crypto News
Welcome to the US Crypto News Morning Briefing—your essential rundown of the most important developments in crypto for the day ahead. Grab a coffee for insights into investor actions ahead of the FOMC’s interest rate decision tomorrow. The Federal Open Market Committee (FOMC) is convening today for a two-day meeting to determine the Fed’s next stance. Crypto News of the Day: Treasury Yields Dip Ahead of FOMC’s Interest Rate Decision US Treasury yields are dipping along with the broader financial market. The yield on the benchmark 10-year Treasury note fell 3 basis points (bps) to 4.424%. Meanwhile, the 2-year Treasury yield was lower by more than 1 bp to 3.958%. The drop comes amid geopolitical tension in the Middle East between Israel and Iran. In a recent US Crypto News publication, BeInCrypto reported how an escalation in the Middle East could affect Bitcoin price. Meanwhile, beyond geopolitics, other fundamentals are also influencing investor sentiment. There is broader caution in the market as traders and investors brace for the FOMC interest rate decision on Wednesday. This is NOT the environment you want to be long bonds in We are likely to remain below the geopolitical risk level into FOMCIf Powell makes another dovish mistake, it will be even more downside for bonds pic.twitter.com/99kex3eBdU — Capital Flows (@Globalflows) June 16, 2025 BeInCrypto reported that the FOMC interest rate decision is expected to maintain rates at 4.25-4.5%. According to the CME FedWatchTool, markets are projecting a 99.8% probability that the Fed will leave interest rates unchanged at 4.25-4.5%. Fed Interest Rate decision probabilities. Source: CME FedWatch Tool It comes after inflation increased in May, and for the first time since February. Speculation has shifted to subtler sources of liquidity, especially changes to the Supplementary Leverage Ratio (SLR), as a hidden trigger for the next crypto bull run. Lagarde Declares “Global Euro” Moment Amid Dollar Dominance Doubts Elsewhere, European Central Bank President Christine Lagarde has declared a pivotal opportunity for the euro to rise as a global reserve currency. She called on the EU to strengthen its geopolitical clout, economic resilience, and institutional unity. In a speech titled Europe’s “global euro” moment, Lagarde warned that the unraveling of open markets and the fading dominance of the US dollar present both threats and openings for Europe. She said that “Protectionism, zero-sum thinking, and bilateral power plays” are replacing multilateral norms, jeopardizing 30 million EU jobs tied to global trade. While the euro is currently the world’s second most-used currency—representing 20% of global FX reserves—Lagarde argued that increasing its global stature is not guaranteed. “It must be earned,” she stressed, pointing to surging gold demand as a sign that investors are still wary of alternatives to the dollar. Lagarde outlined three foundational pillars to support the euro’s rise. First, she emphasized leveraging the EU’s position as the world’s top trading partner to forge new trade agreements and stabilize liquidity via ECB swap lines. Second, she urged Europe to resolve its “structural challenges” such as low growth, fragmented capital markets, and limited supply of safe assets. Deepening the capital markets union and funding strategic industries could help close the gap with the US, she said. Third, Lagarde called for EU institutional reform, including more qualified majority voting, to project unity and stability. “A single veto must no longer be allowed to stand in the way of the collective interests of the other 26 Member States,” she said. Chart of the Day US Treasury Yields Drop. Source: CNBC Byte-Sized Alpha Here’s a summary of more US crypto news to follow today: No cuts, no Bitcoin breakout: FOMC and SLR speculation grip crypto markets Kraken’s “Rune June” post and growing community support trigger a 79% price spike for Bitcoin meme coin Magic Internet Money. Coinbase CEO Brian Armstrong urges UK policymakers to fast-track crypto regulations, positioning the country as a potential crypto hub on par with the US. SEC and Ripple jointly request to pause appeals, waiting for an indicative ruling from Judge Torres on their updated filing. The correlation between TRUMP and Bitcoin weakens, signaling that TRUMP’s price may continue to fall independently of Bitcoin’s performance. Arthur Hayes argues Circle’s IPO and valuation are inflated, citing the firm’s reliance on Coinbase for distribution, unlike Tether’s independent network. BlackRock’s IBIT saw $267 million in inflows, boosting its total to $50.03 billion, signaling strong institutional interest. Pump.fun’s X account, along with its founder Alon Cohen’s, was suspended ahead of the PUMP token launch, sparking speculation in the crypto community. Bitcoin mining costs soared over 34% in two quarters, surpassing $70,000 per BTC due to rising hashrate and energy prices. Kaito AI updates its crypto mindshare algorithm to address criticism over manipulated engagement and low-quality content dominating leaderboards. Crypto Equities Pre-Market Overview
Arthur Hayes: Circle’s Reliance on Coinbase Limits USDC’s Market Reach
BitMEX co-founder and former CEO Arthur Hayes says USDC stablecoin issuer Circle may be overvalued, relative to its industry peer, Tether (USDT). The analysis and critique come barely weeks after Circle’s explosive Initial Public Offering (IPO) and NYSE debut, raising enquiries about which crypto firm would go public next. Circle Cannot Match Tether’s Distribution Network, Hayes Says The BitMEX executive argues that Circle faces significant challenges in the stablecoin market. He cites the firm’s business model as not as sustainable as many investors think. One of Hayes’ criticisms against Circle revolves around the distribution network that powers Tether’s success. Hayes highlights Tether’s dominance in the stablecoin space. He attributes this to its wide-reaching distribution channels, citing early adoption in the crypto capital markets. Tether’s dominance in the stablecoin market. Source: DefiLlama Further, Hayes explains that Tether’s integration into major crypto exchanges fueled its success. More closely, it’s ability to move digital dollars across global markets. In contrast, Circle lacks the same distribution capabilities. According to Hayes, for Circle to distribute USDC at scale, it has to rely heavily on the Coinbase exchange, with which it has a partnership. “If you stop reading here, the only question you must ask yourself when evaluating an investment in a stablecoin issuer is this: how will they distribute their product?” Hayes notes. Hayes claims that Circle has to share 50% of its interest income with Coinbase in exchange for access to its distribution network. This arrangement significantly reduces Circle’s profits compared to Tether, which does not have to pay for its distribution. According to Hayes, many investors are betting on Circle’s eventual dominance of the stablecoin market, especially following its IPO. The BitMEX co-founder says Circle’s IPO could begin a stablecoin bubble cycle. He predicts that Circle’s stock price might remain high due to market hype, despite the inherent flaws in its business model. “The price will continue levitating… the bubble will pop after the launch of a stablecoin issuer on a public market, most likely in the US, that separates fools from tens of billions of capital,” read an excerpt in the blog. Circle (CRCL) Stock Price Performance. Source: Yahoo Finance Data from Yahoo Finance shows that Circle’s CRCL stock was trading at $147.45 in after-hours trading. Tough Road Ahead for Prospective Stablecoin Issuers Looking ahead, Hayes foresees challenges for new stablecoin issuers attempting to enter the market. He believes that the distribution channels for new entrants are now effectively closed. This comes as all the major exchanges either own or partner with existing stablecoin issuers like Tether and Circle. Hayes proceeds to warn that social media platforms and banks are likely to create their own stablecoins, further limiting opportunities for new players. This aligns with reports of the Bank of America’s plans to launch a stablecoin. “Stablecoin issuers must use the pipes of a crypto exchange, a Web2 social media goliath, or a legacy bank,” Hayes argues. He notes that any new stablecoin issuer will struggle to gain traction in the market without these channels. “Tether, with a staff of no more than 100 people, can leverage blockchain technology to scale and perform critical functions of the entire global banking system. In contrast, JPMorgan Chase, one of the best-run commercial banks globally, has a workforce of just over 300,000,” analyst Colin Wu stated, citing Hayes. Despite his criticisms of Circle’s valuation, Hayes cautions against shorting the company. He expects the hype surrounding stablecoin IPOs to continue for the time being. “Should you short Circle, ABSOLUTELY NOT! Maybe if you believe the Circle/Coinbase ratio is off, you should buy Coinbase,” he says. This analysis highlights the challenges issuers face in the competitive stablecoin market, with growing entry barriers for prospective new players.
List of Today’s Top 15 Trending Altcoins Published
Cryptocurrency tracking platform CoinGecko has announced the most searched cryptocurrencies by users in the last three hours. According to the data, some altcoins that have attracted attention are showing a remarkable increase in both search trends and market performance. Names such as Notcoin (NOT), LAMBO, and Aerodrome Finance (AERO) were at the top of the list, where meme coins and new projects were particularly prominent. It is noteworthy that investor interest has shifted to such tokens with high volatility and short-term price movements. Here are the most searched altcoins and their current market values in the 3-hour time frame, according to CoinGecko data: Notcoin (NOTE) – $216 million LAMBO (LAMBO) – $46.5 million Aerodrome Finance (AERO) – $613 million SPX6900 (SPX) – $1.35 billion Hyperliquid (HYPE) – $13.67 billion Ethereum (ETH) – $306.6 billion Aura (AURA) – $218.6 million Solana (SOL) – $76.8 billion Official Trump (TRUMP) – $2.1 billion Bittensor (TAO) – $3.26 billion Keeta (KTA) – $412 million Sonic (S) – $1.09 billion Ondo (ONDO) – $2.5 billion Bitcoin (BTC) – $2.08 trillion Berachain (BERA) – $247.9 million *This is not investment advice.
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