Altcoin
Shibarium Hits New Milestone With Bor & Heimdall Hard Fork
Shiba Inu’s layer-2 blockchain Shibarium has successfully undergone a hard fork, grabbing interest from the wider crypto community. After the successful Bor hard fork, the second upgrade the Heimdall hard fork, is aimed at the Shibarium blockchain’s transaction reliability and facilitating the network’s attainment of ‘deterministic finality’.
Traders reacted immediately to the hard fork and SHIB price hit an intraday high of $0.00002345 as it gained upside momentum after reversal.
Shiba Inu Successfully Completes Hard Fork
Shiba Inu team reported the successful completion of the hard fork at block height 4504576. Shibarium Network, the official account of Shibarium blockchain on X, also posted on May 3 to reach out to the wider crypto community about the new milestone.
The hard fork is a crucial development for Shiba Inu to optimize its blockchain infrastructure for future growth and adoption. To be more precise, the hard fork upgraded the network’s performance, optimized transaction processing, and prepared for future growth and adoption.
“Get ready for blazing-fast transactions and predictable gas fees,” said Shibarium Network. These upgrades are primarily aimed at improving network efficiency, optimizing consensus mechanisms, and introducing new functionalities to support scalability.
The hard forks will reduce the earlier occurring sync issues, gas fees, and achieve deterministic finality on the Shibarium network.
Shiba Inu team is looking at innovations and future developments in the Web3 and decentralized finance space. Recently, Shiba Inu’s decentralized exchange ShibaSwap migrated from Ethereum to Shibarium ushering in new DeFi features.
Shytoshi Kusama also noted the $12 million in funding raised from market leaders for layer-3 blockchain and Shibarium developments.
Also Read: Coinbase Talks About SEC Lawsuits and Political Donations In Investor Letter
SHIB Price on Path of Recovery?
SHIB price witnessed a reversal after whales stared accumulating the meme coin at the dip. The price has jumped 6% in the past 24 hours, with the price currently trading at $0.00002303. The 24-hour low and high are $0.00002176 and $0.00002343, respectively. However, the trading volume has decreased by 22% in the last 24 hours, indicating a decline in interest among traders.
Shiba Inu price can rally to $0.0001 amid the whale buying activity, as per CoinGape Markets. The price could actually witness a short-term weakness despite a rebound, in order to confirm the recovery.
Also Read: 23,000 Bitcoin Options Set to Expire Today, Where Will BTC Price Swing Next?
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.
Crypto market today (February 22): Bitcoin (BTC), Ethereum (ETH), and other altcoins reflect an alarmingly waning price action as the week comes to a close. Primarily against Bybit’s recent $1.4 billion hack, over $566 million was liquidated across the broader market in the last 24 hours. As a result, BTC price price lost nearly 2% and slipped back to the $96K level on Saturday. Further, ETH and other leading altcoins have also followed the waning trajectory.
Crypto Market Today: BTC, ETH & Altcoins Suffer Amid Bybit’s Hack & Massive Liquidations
Notably, the crypto exchange behemoth Bybit recently suffered an exploitation attack, resulting in the theft of $1.4 billion ETH from the platform. CoinGape reported that the mastermind behind this hack was ‘The Lazarus Group,’ a North Korean cybercriminal organization.
As a response to the hack, the crypto market saw $566.64 liquidated in the last 24 hours, per Coinglass data. The massive liquidations, underscoring panic selling, in turn brought significant heat to cryptocurrency prices. Further, the global cryptocurrency market cap slipped 1.98% from yesterday to reach $3.17 trillion.
BTC Price Backtracks To $96K
In sync with the colossal liquidations, BTC price witnessed a 2% loss in value over the past 24 hours, resting at $96,170. The flagship coin’s intraday bottom and peak were $94,852.96 and $99,497.97, respectively. Coinglass data showed that Bitcoin recorded $199.44 million worth of liquidations in the past 24 hours. Simultaneously, its market dominance slipped marginally by 0.01% to 60.29%.
ETH Price Takes Heat Amid Crypto Market’s New Hack
ETH price tanked nearly 3% in the past 24 hours and is currently trading at $2,674. The coin’s 24-hour low and high were $2,616.92 and $2,842.83, respectively. Ethereum recorded liquidations worth $141.76 million in the past 24 hours. Meanwhile, market watchers remain cautious about the coin’s future movements in light of the massive Bybit hack. Given that the hackers decide to sell the stolen funds ahead, heightened selling pressure could pull the price further down.
XRP Price Cracks 3%
XRP price fell by 3% intraday and is now sitting at $2.57. The coin hit a bottom and peak of $2.51 and $2.71 in the last 24 hours. Notably, the Ripple-backed asset saw liquidations worth $14.95 million over the past day and followed the broader market trend to dip in the red zone.
SOL Price Slips 2%
SOL price saw a 2% decline in the past 24 hours and is now trading at $170. The coin swooped to a low of $167.31 and a high of $180.43 in the last 24 hours. Solana recorded liquidations worth $22.24 million intraday, aligning with the market trend.
Meme Crypto Market Also Tumbles
Dogecoin: DOGE price saw a 4% drop to $0.2417 amid $14.03 million liquidated in the Dogecoin market.
Shiba Inu: SHIB price waned by 2% in the past 24 hours and is currently trading at $0.00001516, mirroring the market trend.
Even Pepe Coin (PEPE) and Official Trump (TRUMP) prices cracked 2%-5%, reaching $0.000009188 and $16.08, respectively. The meme coin market has primarily mirrored the broader market trend as the week comes to a close.
Top Crypto Market Gainers Today
Ethena (ENA)
Price: $0.4544
24-Hour Gains: +11%
ENA price soared as the crypto project reassured users that its stablecoin USDe remains solvent despite the recent Bybit hack.
Bitget Token (BGB)
Price: $5.05
24-Hour Gains: +8%
Bitget’s BGB token soars amid its rival exchange’s hack saga, and the Bitget wallet launching a limited-time BGB on-chain staking program.
Jito (JTO)
Price: $2.84
24-Hour Gains: +5%
JTO price gains alongside S. Korean cryptocurrency exchange Upbit’s announcement to list the token in the KRW market.
Top Crypto Market Losers Today
Mantle (MNT)
Price: $0.883
24-Hour Loss: -15%
Berachain (BERA)
Price: $7.16
24-Hour Loss: -12%
Sonic (S)
Price: $0.8546
24-Hour Loss: -10%
Overall, the current investor sentiment remains highly uncertain surrounding the crypto sector’s future, with prices taking heat amid Bybit’s hack and massive liquidations.
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.
Crypto analyst Ali Martinez has noted key support levels for Cardano (ADA) price between $0.67 and $0.80. He emphasized their role in sustaining the current bullish trend. According to Martinez’s analysis, these levels have historically acted as both resistance and support for the altcoin. The repeated interaction with this range indicates its significance in determining ADA price direction.
Key Support Levels for Cardano Price Stability
In a post on X, Ali Martinez highlighted that Cardano price has repeatedly tested the $0.67–$0.80 range. This zone has provided stability for ADA, preventing further declines and acting as a foundation for bullish movements.
Historical price movements suggest that this support area has been critical during both uptrends and corrections. The ability of ADA to hold above this range signals strong buying interest.
Recent market data indicates that ADA remains within this support range, maintaining its position despite market fluctuations. If buying pressure persists, Cardano price could establish a stronger footing and attempt an upward breakout.
Meanwhile, Grok 3 AI highlighted Cardano’s strong decentralization as a driving force behind its potential rally to $5-$6 in this bull cycle. If Cardano price can break key resistance levels, it may gain the bullish momentum needed to reach these ambitious price targets.
Technical Indicators Suggest Growing Buying Pressure
Cardano price is about to cross the 20-day Exponential Moving Average, a significant indicator for short-term trend identification. The 20 EMA acts as a support level and a breakout above it may indicate a rally for the altcoin.
Supporting the bullish sentiments, the 1-day Moving Average Convergence Divergence indicates Cardano price is holding above key support levels, providing a foundation for a altcoin rally.
More so, the MACD line is above the signal line, signaling a bullish crossover. If ADA maintains its position above $0.75 and builds on this momentum, it will break the $0.80 resistance and push higher in the short term.
Furthermore, there is the Parabolic Stop and Reverse (SAR) indicator whose dotted lines are placed below Cardano price, which is common in an upward trend. This suggests that ADA price has found a strong support base, further reinforcing the likelihood of an upward move.
ADA Price To $1?
If Cardano price remains above the key support range of $0.67–$0.80 and manages to break above resistance levels, analysts project a potential rally toward $0.94. A successful test of this price point could pave the way for ADA to revisit the $1 mark.
Conversely, if ADA fails to sustain support above $0.67, selling pressure could increase, driving the price lower. In such a scenario, the next key support level would be around $0.54, where buyers might re-enter the market.
Moreover, another analyst shared the bullish sentiments, emphasizing that ADA price movements suggest a potential breakout. The expert highlighted that if Cardano surpasses the critical resistance at $0.9837, it could pave the way for a rally toward $1.35.
Ronny Mugendi
Ronny Mugendi is a seasoned crypto journalist with four years of professional experience, having contributed significantly to various media outlets on cryptocurrency trends and technologies. With over 4000 published articles across various media outlets, he aims to inform, educate and introduce more people to the Blockchain and DeFi world. Outside of his journalism career, Ronny enjoys the thrill of bike riding, exploring new trails and landscapes.
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 price of XRP lost its edge earlier when it failed to retain the $2.6 support level despite a positive update from the US Securities and Exchange Commission (SEC). Notably, the pro-crypto stance of the Mark Uyeda-led SEC has ignited a possibility of XRP benefitting uniquely. Per the current trend, investors wonder if the coin could hit a $300 price target in the long term if the US SEC drops the XRP lawsuit.
Is Ripple versus US SEC Lawsuit Suppressing XRP Price?
In a recent update, Coinbase revealed that the SEC staff has agreed to drop its lawsuit, pending potential approval by the agency’s commissioners in the coming week. By a large margin, the Coinbase versus SEC lawsuit is considered the second biggest after Ripple Labs.
Though similar, the Ripple lawsuit has advanced much more, with the end close as predicted. Gary Gensler fanned the lawsuit, alleging that XRP is a security when sold to the public, significantly impacting the price.
Like Coinbase, there is speculation that the US SEC will dismiss its Ripple lawsuit appeal. If this happens, the price of XRP is expected to rise dramatically.
Is XRP Price to $300 Feasible?
In recent times, analysts have issued massive projections regarding the XRP price. As reported earlier by CoinGape, market analyst XRP Captain predicted that the XRP price could rally to $250 between now and 2026.
While analysts justify this projection based on the current trend within the Ripple ecosystem, the economics presents a different picture. With XRP having more than 57.89 billion circulating supply per CoinMarketCap data, a $300 target will give it a valuation of $17.367 trillion for the coin.
This fund is way bigger than the crypto industry, which is only worth $3.17 trillion, with Bitcoin dominating. However, this does not discount the likelihood of a massive rally if the lawsuit ends.
The XRP ETF Advantage
Meanwhile, the Ripple ecosystem has continued to expand at a unique pace. More than four asset managers are seeking approval to offer XRP ETF products to institutional investors. Canary Capital, Bitwise, and CoinShares are some of the firms pushing for this new product.
With a 65% odds of approval, the community is somewhat pricing in this product already. With the likelihood of a new capital influx, the expectation is that the XRP price will benefit immensely in the long term.
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.
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