Market
UBS Taps Layer-2 Network ZKSync for Gold Tokenization Trial
Swiss banking giant UBS has successfully tested its UBS Key4 Gold product on ZKSync, an Ethereum Layer-2 network.
This move highlights the increasing adoption of blockchain technology by traditional financial institutions seeking efficiency and security.
UBS Integrates ZKSync for Blockchain-Based Gold Trading
On January 31, ZKSync reported that UBS, which manages assets worth $5.7 trillion, is exploring how blockchain can streamline gold investments.
The test focuses on allowing the bank’s Swiss customers to purchase physical gold directly through a blockchain-based system while ensuring scalability, privacy, and interoperability.
UBS Key4 Gold enables retail investors to buy fractional gold shares, offering real-time pricing, deep liquidity, and secure storage. The product operates on the UBS Gold Network, a permissionless blockchain that connects vaults, liquidity providers, and distributors.
To optimize efficiency, UBS leveraged ZKSync’s Validium mode. It’s a zero-knowledge rollup solution that enhances scalability by storing data off-chain.
As part of the proof-of-concept, the bank deployed smart contracts on the Validium testnet to simulate the UBS Gold Network. These contracts facilitated gold token issuance and transaction processing.
“This PoC reflects UBS’ continued efforts to explore how blockchain can enhance its financial offerings and support its broader digital asset strategy. I firmly believe that the future of finance will take place onchain,” wrote Alex Gluchowski, inventor of ZKsync.
The testnet also enhanced privacy by restricting participants’ visibility to their transactions while maintaining verification mechanisms.
Additionally, it allowed stablecoin to merge with Ethereum, making gold token purchases more cost-effective and scalable.
Growing Institutional Interest in Blockchain Solutions
UBS’ test reflects a broader shift toward blockchain adoption in traditional finance (TradFi). The bank has previously explored tokenization by launching an Ethereum-based money market investment fund.
UBS’ Digital Assets Lead Christoph Puhr noted that tokenized securities hold great potential, but scalability, privacy, and interoperability remain hurdles. He highlighted that the ZKSync PoC showcased how Layer-2 networks and zero-knowledge technology can help address these challenges.
“This is another great example of how UBS collaborates with technology providers to stay at the forefront of innovation. Our PoC with ZKsync demonstrated that Layer 2 networks and ZK technology hold the potential to resolve these,” Puhr noted.
ZKSync co-inventor Alex Gluchowski echoed this sentiment while pointing out that these initiatives show that the future of finance is on-chain.
According to him, zero-knowledge technology would serve as a catalyst for innovation and provide a robust foundation for tokenized assets, which could accelerate Web3 adoption.
Disclaimer
In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.
Market
Can XRP Price Hit $4 by February 2025? Key Factors to Watch
XRP price has been down more than 3% in the last 24 hours as momentum shows signs of slowing. While RSI has dropped below 40, indicating weakening strength, whale activity has remained stagnant, suggesting that large holders are not yet accumulating.
Additionally, EMA lines are nearing a potential death cross, which could lead to further downside if selling pressure increases. However, if XRP breaks key resistance levels and reclaims strong bullish momentum, it could set up for a rally toward $4 in February.
XRP RSI Is Currently Neutral, Below 40
XRP RSI is currently at 39.5, having remained in a neutral range since January 28, when it peaked at 58. The Relative Strength Index (RSI) is a momentum indicator that measures the strength of price movements on a scale from 0 to 100.
Readings above 70 indicate overbought conditions, often leading to a pullback, while levels below 30 suggest oversold conditions, where a rebound may be likely. A neutral RSI between 40 and 60 signals consolidation, where neither buyers nor sellers have clear dominance.
With XRP’s RSI nearing the oversold zone, it suggests weak momentum, which could lead to further downside if buying pressure does not increase.
However, for the XRP price to approach $4 in the coming weeks, the RSI would need to move back above 50, signaling renewed strength. That could happen with more positive developments around its ETF, or with a confirmed withdrawal of the SEC lawsuit.
A breakout above 60 would confirm bullish momentum, while a move past 70 could indicate an overheated rally. If RSI remains weak, XRP may struggle to maintain its current levels and could face further consolidation.
XRP Whales Are Moving Sideways Since January 21
The number of XRP whale addresses – those holding between 1 million and 10 million XRP – has remained stagnant since January 21. It has been fluctuating between 2,095 and 2,082, with the latest count at 2,083.
Tracking these large holders is crucial because whale accumulation often precedes strong price moves, as their buying or selling activity can significantly impact market liquidity and sentiment.
A rise in whale addresses suggests increasing confidence from large investors, while a decline may indicate reduced conviction or profit-taking.
For XRP price to reclaim $4 in February, whale accumulation would likely need to resume its upward trend, similar to early January, when the number of whales surged from 1,981 on January 4 to 2,080 on January 16. During that period, XRP’s price jumped from $2.41 to $3.4, marking a 41% increase.
If a similar pattern of accumulation occurs, it could signal renewed demand and fuel another rally. However, if the number of whales continues moving sideways, XRP price may struggle to gain the necessary momentum for a sustained breakout.
XRP Price Prediction: Can XRP Hit $4 In February?
XRP’s EMA lines indicate that a death cross could form soon, signaling potential downside momentum. If this bearish crossover happens, the XRP price may test support at $2.82. If that level fails, further declines toward $2.6 and $2.32 could follow.
In a more extreme scenario, if selling pressure remains strong and these supports are lost, XRP could drop as low as $1.99, marking its lowest level in 2025.
On the other hand, if XRP price tests and breaks the $3.03 resistance, it could regain bullish momentum and push toward $3.28 and $3.4.
A breakout above these levels could allow XRP price to test $4, representing a potential 33.3% upside from current levels.
Disclaimer
In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.
Market
Coinbase Users Lost Over $150 Million in Targeted Scams
A Coinbase user has reportedly lost 110 cbBTC, valued at $11.5 million. The loss occurred after the user fell victim to a social engineering scam on Base, the Ethereum layer-2 network backed by the exchange.
On January 31, blockchain investigator ZachXBT uncovered the exploit, linking it to a broader pattern of fraud affecting Coinbase users.
ZachXBT Exposes $150 Million Stolen in Growing Coinbase Fraud Crisis
According to ZachXBT, the stolen cbBTC—Coinbase’s wrapped Bitcoin product—was swiftly laundered across multiple instant exchanges. The attacker swapped, bridged, and moved the funds through various platforms before consolidating them with other stolen assets on Ethereum. These actions make recovery nearly impossible.
The investigator pointed out that this incident is part of a growing trend, with multiple Coinbase users suffering similar losses. He estimates that scams of this nature have drained at least $150 million from Coinbase customers.
“Coinbase has a serious fraud problem. I just uncovered many more recent thefts from Coinbase users. The $150 million stolen from Coinbase users in a year is just from thefts I independently confirmed. So it’s more than likely multiples of this number,” ZachXBT stated.
Coinbase has not yet commented on the latest exploit. However, scams involving fraudsters impersonating Coinbase support have become increasingly common.
These attackers use phishing emails, spoofed calls, and other deceptive tactics to trick victims into revealing private keys or login credentials. Once they gain access, they drain wallets, move funds, and take control of accounts.
Last December, a Coinbase Commerce vendor lost $15.9 million with no intervention from the exchange’s anti-money laundering (AML) system. Before that, an imposter stole $6.5 million in October 2024 using a phishing scheme while pretending to be part of Coinbase’s support team.
“I receive inbounds every week from Coinbase users falling for targeted social engineering scams which result in millions of dollars of losses each month. Coinbase does not help the victims and no other major exchange has this same issue. The leadership is completely out of touch with actual threats and cites obscure internal policies to abscond itself of any responsibility even when it’s the right thing to do,” ZachXBT wrote on X (formerly Twitter).
These incidents highlight growing security concerns for Coinbase users. As the largest crypto exchange in the US, the company faces increasing pressure to improve fraud detection and safeguard its customers from sophisticated cyber threats.
If these scams continue unchecked, they could further erode trust in centralized exchanges and highlight the urgent need for improved security protocols.
Disclaimer
In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.
Market
VIRTUAL Price Plummets 15% as Correction Worsens
VIRTUAL price is undergoing a sharp correction, dropping 58.7% in the last 30 days and 15% in the past 24 hours. Its market cap now sits at $1.23 billion, marking a significant decline as bearish momentum strengthens.
Technical indicators reflect this weakness, with ADX rising, confirming the downtrend, while BBTrend remains negative despite some improvement. As VIRTUAL continues trading below $2, the next move will depend on whether it can break resistance and recover or lose support and extend its decline.
VIRTUAL ADX Shows the Current Downtrend Is Getting Stronger
One of the leading AI agent tokens, Virtuals Protocol, has sustained a week-long decline driven by the latest DeepSeek hype. The token’s ADX (Average Directional Index) is currently at 22.5, rising from 15.3 just a day ago, indicating a strengthening trend.
The ADX measures the strength of a trend on a scale from 0 to 100, with readings below 20 signaling a weak trend and above 25 confirming a strong one.
Values between 20 and 25 suggest a transition phase, where momentum is building but not yet fully established.
With VIRTUAL in a downtrend, the rising ADX suggests that bearish momentum is intensifying. If ADX continues increasing above 25, it would confirm that the downward trend is gaining strength, making a recovery more difficult.
However, if ADX stabilizes or starts declining, it could indicate that selling pressure is weakening, potentially allowing the price to consolidate or reverse.
VIRTUAL BBTrend Has Been Negative Since January 20
VIRTUAL’s BBTrend is currently at -15.5, having remained negative since January 20, with a negative peak of -36.5 on January 30.
BBTrend (Bollinger Band Trend) is an indicator that measures trend strength and direction based on Bollinger Bands. Positive values indicate an uptrend, while negative values signal a downtrend, with more extreme readings suggesting stronger momentum in either direction.
Although still negative, VIRTUAL‘s BBTrend improved from -36.5 to -15.5. This suggests that the downtrend is weakening. If BBTrend continues rising toward neutral (0), it could indicate that selling pressure is fading, allowing for stabilization or potential recovery.
However, if the BBTrend turns lower again, it would confirm that the bearish trend remains strong, increasing the likelihood of further downside.
VIRTUAL Price Prediction: Will VIRTUAL Continue Trading Below $2?
VIRTUAL price is currently trading within a range between support at $1.77 and resistance at $1.99, with price movement showing signs of consolidation. If the $1.99 resistance is broken, it could signal the start of a stronger uptrend, pushing VIRTUAL toward $2.22 and $2.42 as the next key levels.
A resurgence in crypto AI agents hype could further fuel momentum, potentially leading to a recovery toward $3.14, a level not seen in recent weeks.
On the other hand, if support at $1.77 fails, VIRTUAL price could extend its downtrend, with $1.35 as the next major level to watch.
This would mark its lowest price since December 9, 2024, reinforcing bearish sentiment and making VIRTUAL even more distant from other AI coins, such as RENDER, FET, and TAO, in market cap.
Disclaimer
In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.
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