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BNB Chain Completes Lorentz Testnet Hardforks; Here’s The Timeline For Mainnet

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3 days ago

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The renowned blockchain ecosystem BNB Chain has achieved a monumental stride this Friday, revealing that it completed the Lorentz testnet hardforks. According to an X post on April 10, this upgrade on the blockchain ecosystem brings faster blocks and smoother performance. “opBNB is now running at 0.5s block times & BSC testnet is live with 1.5s block times,” the X post added.

BNB Chain’s New Hardforks Boast Faster Blocks & Smoother Performance

BNB Chain revealed that the Lorentz Hardforks reduces opBNB block times to 0.5 seconds and BSC testnet to 1.5 seconds, offering its user base faster and smoother operations. opBNB is a layer-2 scaling solution built atop BSC, a layer-1 blockchain.

Notably, with the ecosystem upgrade, builders, validators, and users remain poised to witness a more responsive blockchain. Faster block times mainly bring increased throughput but risk syncing issues for dApps not designed for such speeds.

The blockchain’s team urged node operators and developers to upgrade and test dApps to check the upgrade’s compatibility.

Timeline For Mainnet Launch On BNB Chain

  • opBNB mainnet hardfork will take place on April 21 at 03:00 AM UTC.
  • BSC mainnet hardfork will take place on April 29 at 05:05 AM UTC.

Binance’s blockchain ecosystem is aiming to foster faster and smoother operations by the end of April, given the abovementioned advancements. This development could in turn magnetize more developers, builders, and users toward the ecosystem.

Native Coin Retaliate On This Development?

At the time of reporting, BNB coin’s price traded at $579.45, up marginally by 0.2%. The blockchain’s native token is currently consolidating within a tight range of $567 and $579.

Crypto market traders and investors have kept the coin on their radars as the abovementioned advancements could fuel more demand for the token. Also, BNB Chain can witness a flurry of activity ahead as it enhances its ecosystem’s potential with upgrades. A BNB coin price prediction by CoinGape further revealed that bulls are currently in control, as per the 3-month bias indicator.

As a result, market sentiments orbiting the coin are optimistic and investors could see a price rally ahead, although it’s worth mentioning that the broader crypto market faces immense pressure amid Donald Trump’s tariff flip-flopping.

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Coingape Staff

CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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Binance Breaks Silence Amid Mantra (OM) 90% Price Crash

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2 hours ago

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April 14, 2025

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The cryptocurrency exchange behemoth Binance has recently cleared the air around Mantra’s price crash of over 90% in just a day. According to an X post by the exchange on Monday, OM price has crashed alarmingly due to massive cross-exchange liquidations. Meanwhile, other on-chain trackers have also highlighted massive token dumps into exchanges, which rationalizes the ongoing price slump.

OM token exchanged hands at $0.7162 at the time of reporting, erasing nearly 90% intraday.

Binance Issues Statement Amid Mantra (OM) Price Crash of 90%, Here’s What Traders Should Know

Binance revealed in an X post on Monday, April 14, that it is aware of the severe price crash witnessed by Mantra. The CEX informed that its initial findings conclude – “this crash is primarily attributed to cross-exchange liquidations.”

Since October of last year, the cryptocurrency exchange titan has implemented various risk control measures, such as reducing the leverage levels with regard to the OM token to protect its users from various market risks. Besides, since January of this year, the CEX has also issued a pop-up warning for this token on the spot trading page to inform users of the change in tokenomics.

Notably, the CEX underlined that Mantra’s supply has increased since the beginning of this year, which is an alarming factor when observing price movements. Overall, Binance’s recent release has offered traders and investors clarity on factors fueling the token’s current price slump.

Why Is Mantra (OM) Price Falling?

As mentioned above, Mantra’s price has fallen nearly 90%, even hitting an intraday bottom at $0.4222. This price crash is primarily attributable to massive OM selling, liquidations, and the project facing rug-pull allegations.

Tracker Lookonchain revealed in an X post that at least 17 wallets deposited $227 million worth of tokens into exchanges right before the price crashed recently. These massive dumps totaled nearly 4.5% of the asset’s circulating supply.

Subsequently, the price slump led to $66.97 million worth of liquidations in the past 12 hours, adding severe heat to the price. When coupled with Binance’s recent update on the matter, these factors triggered a highly bearish sentiment for the coin among investors.

Crypto Trader Loses $3.3M Amid Price Slump

Besides, a crypto trader got slammed with an alarming $3.3 million loss due to the recent price crash. Going by the name JB on X, this trader revealed that his initial investment of $3.5 million is now worth merely $200,000 due to the 90% drop.

“My intention was to support the future of RWAs,” the trader added, although the current scenario remains contrary. CoinGape reported that Mantra’s team blamed “reckless liquidations” as the primary reason for the price crash.

Meanwhile, another report revealed that crypto traders lost nearly $400 million amid the OM price crash. Altogether, broader market sentiments orbiting the coin remain highly bearish, with Binance’s update only fueling the fire more.

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CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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Mantra Team Responds As The OM Token Price Crashes Over 80% In 24 Hours

Published

12 hours ago

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April 13, 2025

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The Mantra team has addressed the crypto community following the Mantra (OM) token price crash of over 80% in the last 24 hours. Despite the statement, the community is still concerned that this might have been a rug pull by the team, which controls a huge amount of the token’s total supply.

Mantra Team Responds Following Token Crash

In an X post, the Mantra team assured the community that the token is “fundamentally strong” despite the crash that occurred in the last 24 hours. The team blamed the crash on “reckless liquidations” and denied it had anything to do with the project.

They further assured that this had nothing to do with the team and revealed that they were looking into the Mantra price crash and would share more details about what happened as soon as possible.

In an X post, the project’s co-founder, John Patrick Mullin, further revealed that there was a massive forced liquidation from a large OM investor on a Centralized Exchange (CEX). However, he didn’t reveal whether it was one of the top crypto exchanges.

In another X post, Mullin tried to set the record straight. He stated that they didn’t delete the Telegram channel. He further remarked that the team’s tokens all remain in custody and provided a wallet address (mantra…..quam) for community members to verify this claim.

The Mantra co-founder added that they are actively figuring out why these massive forced liquidations occurred and will provide more information as soon as possible. He assured that they are still here and not going anywhere.

Mantra Price Crashes By Over 80% In 24 Hours

CoinMarketCap data shows that the Mantra price has crashed by over 80% in the last 24 hours. The token sharply dropped from an intra-day high of $6.3 to as low as $0.4. However, it has reclaimed the $1 price level following the team’s statement.

However, amid this statement, some community members still seem convinced that this was a rug pull, as the team controls a huge amount of the token’s supply. Crypto commentator Sjuul described the OM token as the LUNA of this cycle.

He further explained why the community believes the crash was a rug pull, stating that the crash began when a wallet believed to be connected to the team suddenly deposited 3.9 million OM tokens to the OKX crypto exchange. This deposit led to significant selling pressure, which caused the Mantra price to crash.

Besides the token’s crash, the broader crypto market is witnessing a downtrend following US President Donald Trump’s statement in which he debunked reports of an exemption. This comes just a day after the crypto market rebounded following reports that the US president had exempted computers, phones, and chips from his tariffs on China and other countries.

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Boluwatife Adeyemi is a well-experienced crypto news writer and editor who has covered topics that cut across several topics and niches. Boluwatife has a knack for simplifying the most technical concepts and making it easy for crypto newbies to understand. Away from writing, He is an avid basketball lover, a traveler and a part-time degen.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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Ethereum Price Eyes Rally To $4,800 After Breaking Key Resistance

Published

15 hours ago

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April 13, 2025

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Ethereum’s shoddy run of form is reaching its lowest ebb with investors lapping at the charts in bullish fashion. Ethereum price is tipped for a rally to $4,000 after technical indicators flash glimpses of promise for the largest altcoin.

Ethereum Price To $4,800 Is In Play

Cryptocurrency analyst Javon Marks is predicting an extended rally for Ethereum price in the coming weeks on the backs of solid technicals. According to an analysis on X, Ethereum price continues to trade outside of the previous descending trendline after a strong breakout despite recent poor price performances.

Marks notes that the previous breakout triggered an extended bullish run for Ethereum but previous declines leave ETH outside the descending trendline. According to the cryptocurrency analyst, if ETH continues to trade above the trendline, a price target of $4,800 is within grasp. While Marks did not give a timeline, the $4,000 prediction aligns with Standard Chartered’s revised prediction for ETH for the end of 2025.

“With Ethereum still being well broken out of an older resisting trend the target at the $4811.71 level goes unchanged,” said Marks.

Ethereum trading above the descending trendlineEthereum trading above the descending trendline

While Marks’ prediction offers a ray of hope for the bruised and battered altcoin, trading above the trendline is an uphill climb. For starters, ETH price charts are indicating lower lows and lower highs, confirming a strong downtrend.

Ethereum price has fallen to a new 5-year low against Bitcoin after posting its worst Q1 performance in nearly five years. ETH tanked to lows of $1,400 as investor optimism for the altcoin sunk to previously unseen levels.

Marks Says ETH Can Still Clinch $8,000

The analyst notes if the Ethereum price powers through the maze of challenges on its path to $4,800, it can trigger a sustained rally to $8,000. While the prediction is a steep ascent for ETH, prices have formed a 2020 historical pattern pointing to a rally.

“With this target still in play, an over 200% uphill run to reach it can take place and with the extensive post-breakout action, a break above is possible, bring $8,557.68 into play,” said Marks.

Bankless cofounder David Hoffman has revealed a strategy to improve ETH price performance. The plan involves attracting new users to the Ethereum network while ditching attempts to police users’ behavior.

Despite the possibilities for an upswing, Ethereum price is staring down the barrel of a gun. There are comparisons that the ETH price is mirroring Nokia’s decline with Solana’s rise delivering the final blow for Ethereum.

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Aliyu Pokima

Aliyu Pokima is a seasoned cryptocurrency and emerging technologies journalist with a knack for covering needle-moving stories in the space. Aliyu delivers breaking news stories, regulatory updates, and insightful analysis with depth and precision. When he’s not poring over charts or following leads, Aliyu enjoys playing the bass guitar, lifting weights and running marathons.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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