Altcoin
Aevo Price Soars Over 10% As Binance Discloses Key Investment, Is $1 Next?
Binance Labs, the venture capital arm of the world’s largest crypto exchange Binance, on Tuesday unveiled investment in high-performance Layer 2 decentralized exchange Aevo. As a result, AEVO price skyrocketed over 10% in the last 24 hours, with a major boost in price and trading volumes coming after the announcement.
Binance Labs Reveals Investment in Crypto Derivatives DEX Aevo
In an official blog on May 21, Binance Labs said it has invested in Aevo, a crypto derivatives decentralized exchange (DEX) built on the OP Stack.
It offers perpetual trading, pre-launch futures, and options through a single margin account. Aevo on-chain settlement happens on Ethereum and uses Celestia as a high-throughput DA layer for scalability. Aevo is a rebrand of Ribbon Finance and is backed by crypto leaders such as Paradigm, Dragonfly, Pantera Capital, and Coinbase Ventures.
DAO committees will roll out initiatives for incentives, token liquidity, and community growth to bring more users and liquidity to the platform. Aevo also plans to launch vault strategies, yield products, and Aevo staking in the future. In addition, it will allow permissionless dApps deployment on Aevo L2 to leverage its growing user base and unique features.
“Year-to-date, Aevo has done more than $80 billion in derivatives volume and generated over $30m in fees with an average of around 50,000 monthly active users (MAU) on the platform,” said Binance Labs.
Also Read: Nvidia Slips After The Opening Bell As Amazon Halts Superchip Orders
Aevo Price Jumps 10%
Traders reacted immediately to the announcement and Aevo price jumped 10% in the past 24 hours. The price is currently trading at $0.897, with a 24-hour low and high of $0.8203 and $0.935, respectively. Furthermore, the trading volume has increased by 150% in the last 24 hours, indicating a rise in interest among traders.
Total AEVO futures open interest jumped more than 7% in last 4 hours, with a further rise in trading in the past hour. Aevo futures OI climbed nearly 14% on crypto exchange Binance in the last four hours. Traders are almost balanced on both the sell and buy sides, suggesting possibilities of pullback.
However, Aevo token unlock event has finished and whales are likely to buy it once again. It will further push AEVO price upwards.
Also Read: Ripple SEC Lawsuit: SEC Opposes Sealing Details, “Ripple Will Largely Lose the Motion”
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.
Cardano founder Charles Hoskinson says the network will play a key role in Bitcoin DeFi transactions in the future. With several partnerships and innovations in the works, Hoskinson says Cardano is bracing itself to explore layer 2 solutions on the Bitcoin blockchain,
Cardano Positions Itself For Bitcoin DeFi
In an interview with Scott Melker, Cardano’s founder has revealed ambitious plans for the network to turbocharge Bitcoin’s adoption for DeFi applications. Hoskinson notes that large financial institutions will trigger a demand for Bitcoin DeFi given their fiduciary obligation to create yield.
He notes that a Bitcoin ETF providing DeFi yields will trigger shareholders to demand similar yields. Hoskinson eyes a three-year timeframe for institutions to plant their feet in Bitcoin DeFi and UTXO DeFi.
Hoskinson says Cardano will combine Hydra with the Bitcoin Lightning network and build a trustless recursive bridge between both networks. The founder adds that its Aiken programming language will enabled to write both Bitcoin and Cardano scripts.
Furthermore, a partnership with Maestro, an infrastructure provider allowing Bitcoin integration with UTXO-based blockchain will provide a “turn-key experience” for users.
“It’s still early days but we are making methodical progress every step of the way,” said Hoskinson.
Hoskinson is moving on from his absence from the Crypto Summit at the White House, doubling down on technical innovation. He notes that the Bitcoin-focused plays by Cardano will not adversely affect the network’s road map.
Is Bitcoin Ready For DeFi Applications?
Hoskinson revealed in the interview that Bitcoin is ready for DeFi utility following the Taproot and the Lightning Network advancements. According to the founder, Taproot added programmability features to the Bitcoin network and Cardano will push the frontiers.
He adds that Cardano will enable Bitcoin users to engage in DeFi transactions while transacting with only BTC. Hoskinson says a merger between Bitcoin is enough to make Cardano’s DeFi significantly larger than Ethereum and Solana combined.
While the integration will send Cardano price soaring, ADA wallows at $0,6611 after losing 10% in a week. However, traders are targeting an ADA pump in May following the forming of a cyclical pattern.
An analyst argues that a price rally to $10 is not a crazy prediction given a streak of solid fundamentals and partnerships for Cardano.
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.
The world’s second-largest digital asset, Ethereum (ETH), struggles to keep up with Bitcoin. Market data shows that the ETH/BTC ratio has dropped to its lowest level in five years. Consequently, investors and analysts are now questioning whether Ethereum can recover in the coming quarter, considering Bitcoin may continue its long-standing domination in the digital assets market.
The Ethereum Bitcoin Ratio At New Lows
ETH performed poorly compared to Bitcoin in the first quarter of 2025. According to a recent update from The Kobeissi Letter, the Ethereum to Bitcoin ratio has dropped to 0.02, its lowest level since December 2020.
Historically, Ethereum has gained strength after Bitcoin halvings, but the trend has reversed. While Bitcoin price is going upward, Ethereum has struggled to gain traction.
Several factors have contributed to this decline. Bitcoin’s narrative as digital gold has strengthened, drawing more institutional investment. In addition, the coin has faced challenges, including relatively higher gas fees and competition from other blockchain networks.
Unfortunately, the Ethereum Pectra upgrade, which experts believe could drive a price increase for the coin, faced some challenges. As reported by CoinGape, multiple testnet attempts failed before the Hoodi testnet that launched recently.
Some experts believe Ethereum’s transition to proof-of-stake has not delivered the expected market boost.
Q1 Performance and ETF Downturn
The ETH price performance in the first quarter of 2025 has been disappointing. For context, data shows that the coin has dropped 46% this year, nearly 4 times more than Bitcoin’s decline of 12%.
Many investors expected a strong bull run, but Ethereum has remained weak. The adoption of spot Bitcoin ETFs earlier in the year attracted billions of dollars, but Ethereum has not seen the same level of interest for its potential ETF.
Market analysts suggest that institutional investors are still hesitant about Ethereum’s long-term value compared to Bitcoin. Bitcoin’s fixed supply and reputation as a hedge against inflation have made it a safer choice for institutional investors.
Where is ETH Price Heading?
Some analysts believe ETH price could hit $10,000 if broader market conditions improve and the Ethereum Pectra upgrade launches on the mainnet.
Others warn that if the coin continues to lose value against Bitcoin, investors may start shifting funds to other networks like Solana or Avalanche.
Even though short-term price predictions remain speculative, some traders expect Ethereum to rebound as Bitcoin stabilizes. Others believe the ETH/BTC ratio could drop even further.
As of this publication, CoinMarketCap data shows that Ethereum’s price was $1,842.29, up 1.34% in the last 24 hours. Many experts believe that the coming days will determine whether Ethereum can regain strength or whether Bitcoin’s dominance will continue to grow.
Godfrey Benjamin
Benjamin Godfrey is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. Benjamin Godfrey is a lover of sports and agriculture.
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.
Elon Musk has doused optimism for the US government to adopt Dogecoin at the America PAC town hall event. The head of the Department of Government Efficiency (DOGE) noted that the government agency only bears a nominal resemblance to the memecoin.
Elon Musk Dispels Rumors Of Dogecoin Adoption By The US Government
At a recent event, Tesla CEO Elon Musk cleared the air on the potential adoption of Dogecoin by the US government. In his keynote speech, Musk noted that the US government will not be adopting Dogecoin, contrary to swirling speculation.
Musk noted that the speculation gained traction following the launch of the Department of Government Efficiency (DOGE). Following the launch of DOGE and Musk tapped to lead the agency, enthusiasm for Dogecoin government utility reached new highs.
However, Musk clarified that the agency bears only a nominal resemblance to the memecoin, stemming from an internet trend. The Tesla CEO disclosed that the original intended name was the Government Efficiency Commission, opting for DOGE “because the internet is right.”
“The name is similar but they are two different things,” said Musk. “But there are no plans for the government to use Dogecoin as far as I know.”
Musk has a long and storied history with Dogecoin, famously shilling the memecoin and integrating DOGE payments for Tesla. Musk teased an anime-themed DOGE on X, setting the stage for a $2 rally for the memecoin.
DOGE Reacts Negatively To The News
Dogecoin price slumped by nearly 2% in the wake of the grim report. Currently, the memecoin is trading at 0.1660 as it eyes a push toward the $1 mark.
The negative fundamental adds pressure to reports of DOGE forming a falling wedge pattern, signaling a potential downward breakout. However, optimists are rippling with confidence that DOGE can shake off the negative sentiments to post new all-time highs.
One analysis claims that if the Dogecoin price breaks a 3-month trendline, an $8 valuation for the memecoin is in play. Others claim that the House of Doge Reserve launch will be a tailwind for Dogecoin price, sending the dog-themed coin on a strong rally.
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.
Hedera (HBAR) Bears Dominate, HBAR Eyes Key $0.15 Level
Charles Hoskinson Reveals How Cardano Will Boost Bitcoin’s Adoption
Coinbase Tries to Resume Lawsuit Against the FDIC
Ethereum Bitcoin Ratio Drops to Record Low, What Next for ETH?
BlackRock’s Larry Fink Thinks Crypto Could Harm The Dollar
Ethereum May Have To Undo This Death Cross For Bull’s Return
2.52 Million Altcoins Are Ruining Crypto’s Future
Animoca Brands Valuation Tanks 75% In Two Years, Here’s Why
Crypto exchange BingX hacked for $43 million
Are The Big Players Losing Interest?
Hong Kong’s Securities Association Tips Authorities On Crypto Self-Regulation
Coinbase cbBTC Set to go Live on Solana
2.52 Million Altcoins Are Ruining Crypto’s Future
Animoca Brands Valuation Tanks 75% In Two Years, Here’s Why
Crypto exchange BingX hacked for $43 million
Are The Big Players Losing Interest?
Hong Kong’s Securities Association Tips Authorities On Crypto Self-Regulation
Coinbase cbBTC Set to go Live on Solana
-
Altcoin24 hours agoCardano Price Eyes Massive Pump In May Following Cyclical Patern From 2024
-
Market20 hours agoBitcoin Bears Tighten Grip—Where’s the Next Support?
-
Market19 hours agoEthereum Price Weakens—Can Bulls Prevent a Major Breakdown?
-
Altcoin11 hours ago$33 Million Inflows Signal Market Bounce
-
Market18 hours agoXRP Price Fate Hangs on $2.00—Major Move Incoming?
-
Ethereum10 hours agoEthereum To $20K? Investor Says Real-World Adoption Is The Key
-
Market17 hours agoDogecoin (DOGE) Bulls In Trouble—Can They Prevent a Drop Below $0.15?
-
Bitcoin10 hours agoBTC Price Rebound Likely as Long-Term Holders Reenter Market
✓ Share: