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Ethereum Founder Vitalik Says Worldcoin is Doing a Great Job

Abdulkarim Abdulwahab
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Ethereum Founder Vitalik Says Worldcoin is Doing a Great Job

Ethereum co-founder Vitalik Buterin has reiterated his commendation for the Worldcoin (WLD) team’s efforts to strengthen privacy measures within their platform.

Buterin expressed this appreciation in a recent post on X, acknowledging Worldcoin’s proactive approach to addressing privacy concerns raised by critics. He pointed out that the team has shown dedication to minimizing data usage.

In his words:

“IMO, they actually have been doing quite a good job of taking the privacy critiques seriously and designing their system to be more and more data-minimal.”

The Ethereum co-founder issued this positive remark following a report that the CNPD, Portugal’s data regulator, has ordered Worldcoin to halt biometric data collection for 90 days.

This move represents the latest regulatory setback for Worldcoin’s iris-scanning project, which has faced privacy concerns in various countries.

In response to the development, X user Louis Anslow attempted to highlight the irony of the situation by mentioning that he had his privates scanned in Portugal in 2021 using a German orb.

On this premise, Vitalik Buterin commented that the Worldcoin team has been doing a great job managing the criticisms directed toward their iris-scanning project and data collection practices. Additionally, he expressed admiration for the modern cryptography that the team is championing.

This latest endorsement reaffirms Buterin’s earlier remarks, in which he suggested that Worldcoin’s dedication to privacy protection surpasses those of other centralized authentication solutions.

The Worldcoin Scanning Program

Individuals sign up on Worldcoin by having their iris scanned without providing traditional identification details such as name, physical address, email address, or phone number.  

Significantly, Worldcoin incentivizes participants to undergo facial scans by offering a digital ID and free crypto, WLD. Worldcoin’s website shows over 4.6 million people from 120 countries have registered for this program.

While Worldcoin has seen a warm reception from countries like Argentina, it has faced regulatory concerns from others like Kenya. Portugal is the latest to join the list of countries scrutinizing the Worldcoin iris scanning project.

Earlier this week, Portugal’s data regulator expressed concerns over the potential threat to citizens’ data protection rights. The regulator cited a high risk that warrants immediate intervention to avert serious harm. 

Meanwhile, the regulator revealed that over 300,000 individuals in Portugal have submitted their biometric data to Worldcoin. 

Whales Pile in on Dogecoin with 1,400,000,000 DOGE Bought in Two Weeks

Mark Brennan
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As on-chain data reveals, the recent surge in the price of Dogecoin has been a result of heavy accumulation by large holders.

Dogecoin’s price has gained 44% in the past seven days, making it the best performing cryptocurrency on the top ten list. The latest increase may be attributable to retail involvement, especially given Dogecoin’s position among memecoin investors.

However, on-chain data also credits whales with a huge contribution to Dogecoin’s price surge. Over the past two weeks, data reveals that whales spent $280 million acquiring 1.4 billion DOGE. 

The increase in whale activity is a positive indicator for Dogecoin’s price. A majority of whales are long-term investors, with the latest purchase at these prices suggesting the desire to sell at much higher values.

Despite its price rising to $0.21 at the time of writing, Dogecoin remains approximately 70% off its all-time high. Its current market capitalization at $31 billion is also significantly less than the $75 billion milestone reached at the peak of the previous bull run.

Dogecoin Climbs Crypto Rankings

The massive spike in whale interest and demand has helped push Dogecoin much high in the crypto market cap rankings. In recent weeks, Dogecoin has overtaken Avalanche and Cardano, and now ranks at the eight largest cryptocurrency.

Up next are the USDC stablecoin and more popular cryptocurrency XRP. In terms of market cap, only $4 billion separates these assets, while Dogecoin already records more trading volume than XRP ($4.2 billion against $1.77 billion) in the past 24 hours.

Evidently, the flippening of XRP by Dogecoin could occur if whales maintain sustained demand for the asset. At press time, Dogecoin is in a consolidation range, trading between $0.21 an $0.227 in the past 24 hours.

Bitcoin and Ethereum Lead as Options Market Sees Historic $15B Quarterly Delivery

Sam Wisdom Raphael
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Bitcoin and Ethereum Lead as Options Market Sees Historic $15B Quarterly Delivery

Bitcoin (BTC) and Ethereum (ETH) took center stage today as options contracts worth billions expired amidst a historic quarterly delivery totaling over $15 billion. 

For the uninitiated, this quarterly delivery event involves the settlement or resolution of a large volume of crypto contracts, including options and futures contracts, at the agreed terms. This marked the first quarterly delivery of this year.

Interestingly, data suggests that the notional value of $15 billion for this delivery represents the highest quarterly delivery figure ever recorded in the crypto market. This figure reflects the growing institutional involvement in the crypto scene and increasing capital inflows.

Prominent Chinese blockchain report Colin Wu called attention to this development in a recent post, citing information provided by GeeksLive, an options trading data analytics resource.

Bitcoin Options Record $9.5B Notional Value 

For Bitcoin, 135,000 options contracts expired upon the quarterly delivery. The Put Call Ratio for these contracts stood at 0.85, signaling a predominantly bullish sentiment among traders. This ratio, which compares the number of put to call options, suggests optimism for Bitcoin’s price trajectory.

In addition, Bitcoin’s max pain stood at $51,000, marking the level where the maximum number of options contracts expired worthless. As BTC deviates from this price, now trading above $70,000, this event could trigger significant price movements as traders adjust their positions.

Significantly, the combined notional value of Bitcoin options contracts totaled a staggering $9.5 billion. This is due to massive capital inflows amid institutional interest.

Despite the monumental quarterly delivery, Bitcoin surged during the week, reaching $70,000 and defying expectations. 

Bitcoin has steadied above the $70,000 territory, but the recent quarterly delivery could make the start of intense volatility for the BTC market. The premier crypto currently trades for $70,385, with 24-hour options Open Interest (OI) rising 2% to $10.24 billion, per Coinglass data.

As the market braces for Bitcoin’s halving event next month, traders have been adjusting their strategies accordingly. The halving event, which halves the reward for mining new blocks every four years, could further bolster BTC’s price by reducing its inflation rate.

Ethereum Options Notional Value Stands at $5.6B

Meanwhile, Ethereum also recorded significantly higher figures, as 1.58 million options contracts expired. The Put Call Ratio for Ethereum stops at 0.63, indicating a similar bullish bias among options traders, albeit slightly lower than that of Bitcoin.

Ethereum’s max pain point was $2,600, with the crypto asset now 35% up from this price, currently changing hands at $3,533. The notional value of Ethereum options contracts amounted to $5.6 billion, a figure that represents massive capital inflows into the ETH options market. 

Hotly Anticipated AI Crypto Token to Go Live on Cardano

Mark Brennan
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Hotly Anticipated AI Crypto Token to Go Live on Cardano

The Cardano network will be one of the cross-chain venues for users to access ASI, a new cryptocurrency that binds three top players in the AI and crypto space.

One of the biggest developments from the crypto space this week is a multi-billion token merger involving three projects: SingularityNET, Ocean Protocol, and Fetch AI.

The new partners announced the impending launch of the Artificial Superintelligence Alliance (ASI) and the merging of the three coins into the ASI token.

While the merger will bind together a combined $7.5 billion worth of value that the projects have amassed, one of the questions that quickly emerged is on which blockchain the new token will be hosted.

The home for the new token is especially important as it will determine how cheaply users can move the asset and whether it can easily be used across decentralized applications, such as those in the DeFi sector.

SingularityNET CEO Ben Goertzel promptly addressed the vital subject, revealing that ASI token will be available on Cardano, Ethereum, Fetch AI layer 1, and Hypercycle. Recall that SingularityNET already has a bridge converter on the Cardano mainnet, which could make such a cross-chain functionality possible.

Meanwhile, Goertzel also confirmed that the token might also launch on additional chains in the future, potentially including Internet Computer (ICP).

 

Cardano Recognized For Industry-Wide Initiative

The addition of Cardano to the list of blockchains to host the widely anticipated ASI token catches the eye for several reasons. One reason is that Cardano has publicly been criticized, including by industry figures such as Arthur Hayes, for not being on par with other competitors such as Ethereum.

Nonetheless, the latest recognition affirms that Cardano holds a leadership position, given its longevity in the crypto space. At the same time, the consideration of the blockchain for trending innovations, such as the intersection of AI and crypto, underlines Cardano’s potential.

While there is no guarantee that the adoption of Cardano will directly impact the price of ADA or attract more users, it puts the blockchain in a fine light with the crypto community. ADA is still the ninth-largest crypto asset, with a market value of $22 billion.

XRP Community Reacts as Flare Begins Trading on Largest Dutch Exchange

Sam Wisdom Raphael
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XRP Community Reacts as Flare Begins Trading on Largest Dutch Exchange

Bitvavo, the largest exchange based in the Netherlands, has added support for Flare (FLR), sparking a reaction from the XRP community.

The Flare Network community, which largely comprises XRP holders who received the token as airdrops last year, has witnessed a pivotal development that could help bolster adoption and demand for the FLR token.

Bitvavo Lists Flare

Bitvavo, one of the leading global exchanges and the largest Dutch crypto exchange, recently revealed that it has added support for FLR. The listing, which occurred on March 27, also involved three other crypto assets, Wrapped BTC (WBTC), Big Time (BIGTIME), and MANTRA (OM).

Bitvavo boasts multiple attractive features to make trading convenient for Dutch-based Flare proponents. According to the exchange, it integrates robust wallet security, legal compliance with Dutch authorities and minimal trading fees between 0% and 0.25%.

Data from the Bitvavo platform confirms that the exchange now supports FLR trading, as the token joins over 224 crypto assets already hosted on the platform for its customer base of over 1 million users. Notably, the only trading avenue for interested parties is the FLR/EUR pair.

Interestingly, a recent report revealed that more than 1.5 million European trade crypto a day, confirming the growing allure of digital assets in the region. Less than two days after the listing, Bitvavo now commands 2.43% of the global FLR 24-hour trading volume, currently sitting at $329K.

FLR Sees Growing Attention

Flare began trading last January following the airdrop to XRP holders, with multiple exchanges supporting the distribution event and the subsequent trading of the token, including Uphold. 

However, it was not until April before America’s largest exchange Coinbase listed the crypto asset. In addition, Binance.US, the U.S.-based sister exchange to Binance, only supported the token distribution event last October.

The recent support from Bitvavo underscores the global attention the token has continued to command. The XRP community has responded well to the news. Wietse Wind, founder of XRPL Labs, the team behind Xaman, spotlighted the development, dubbing Bitvavo the biggest exchange in the Netherlands.

Notably, the listing comes at a time when Flare is experiencing consolidation. The token currently trades for $0.0349, up 0.52% over the last 24 hours. FLR spiked to a new ATH of $0.053 last month shortly after Google Cloud became a Flare infrastructure provider.

FLR commands a 24-hour volume of $11.6 million, with crypto exchange Gate.io making up 20% of this figure. OKX, Coinbase and Bybit respectively account for 16.34%, 8.30% and 5.21% of this trading volume.

African Investor Made $108,000 from Shiba Inu with $19 But Never Realized It

Abdulkarim Abdulwahab
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African Investor Made $108,000 from Shiba Inu with $19 But Never Realized It

Kwame Opoku, an African investor and global business speaker, has disclosed how he prematurely offloaded his $19 Shiba Inu holding in the last bull run to urge prudence with profit-taking in this cycle.

Opoku narrated this account in a recent post on X to encourage new market participants in this cycle’s bull run to learn from his mistake. He confirmed he would have secured a profit of $108,000 from his early Shiba Inu engagement had he held on to the asset much longer.

How $19 Shiba Inu Turned $108K

In the post, Opoku highlighted that his first encounter with Shiba Inu was in November 2020, precisely two months after the asset launched. Specifically, he heard about SHIB through the comment section of Elon Musk’s first post on Dogecoin (DOGE).

Opoku disclosed picking interest in SHIB from then on. Notably, SHIB hit a bottom of $0.00000000005636, with ten leading zeros, in November 2020, the same month Opoku first engaged with the cryptocurrency.

The investor noted that he hesitated to invest in Shiba Inu because of expensive gas fees on Ethereum, and the asset was only tradable on Uniswap at the time. Nonetheless, he eventually committed $19 after paying $17 in gas fees. The $19 earned more than a billion units of SHIB tokens.

According to Opoku, he liquidated his Shiba Inu holdings when the portfolio had grown to $507. However, he regretted the action, particularly considering that the same portfolio would have earned him $108,000 had he offloaded it at the high of $0.00008616. As a result, he urged new investors in the space to be prudent with profit-taking. 

Furthermore, Opoku noted that the crypto market exceeded $3 trillion in the last cycle. He suggested that even a $10 trillion global cap could be a conservative estimate for this cycle. The foundation of this projection is the presence of ETFs and other institutional participation in the crypto sphere.

“Do whatever it takes to starve yourself of any demon [that] convinces you to sell too early. At least wait for BTC to clock a new ATH, and let AltSeason come first before you sell,” the investor cautioned.

Similar Experience

X user “dyor_specialist” disclosed a similar experience, selling 1 billion SHIB for $3,500, which could have been $88,000.

Notably, these stories join the growing accounts of missed fortunes from individuals who parted early with Shiba Inu.

The Crypto Basic has reported the case of a Dubai-based investor who bought SHIB with $4,000 but experienced a dip shortly after the acquisition. He liquidated the portfolio upon reattaining his initial investment of $4K. However, his early SHIB investment would have been worth $70 million if he had been patient.

Shiba Inu Cautions Against Scams Related to Its Partner Token

Lele Jima
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Shiba Inu Cautions Against Scams Related to Its Partner Token

The Shiba Inu community-driven scam alert channel issues a new warning regarding fake airdrops of K9 Finance (KNINE) tokens that seek to drain investors’ wallets.  

Malicious actors are attempting to take advantage of the euphoria surrounding the K9 Finance DAO native token (KNINE) to defraud unsuspecting investors. 

Shiba Inu’s community-driven scam alert channel, Shibarmy Scam Alerts, called the community’s attention to fake KNINE airdrops making rounds on X. 

According to the Alert channel, these fraudulent actors have been rolling out fake reward claim sites for the KNINE token to drain users’ wallets. 

No Ongoing Airdrop for KNINE 

For context, K9 Finance is an official Shiba Inu partner that plans to launch a liquid staking platform on Shibarium. The K9 team launched KNINE on Uniswap earlier this month, with the token’s price skyrocketing by over 200% shortly after its debut.

As more fake KNINE airdrops circulate on X, Shibarmy Scam Alerts warned that the team behind K9 Finance does not have an ongoing reward program nor airdrop for its native token. 

Furthermore, it advised Shiba Inu and K9 community members not to connect their crypto wallets to any of these dubious sites in an attempt to claim the non-existent airdrops. 

The channel shared a sample of the hoax airdrop. In particular, the scammers claim they want to distribute $400,000 worth of KNINE tokens to market participants in line with a promise they made earlier. 

They attached a link to a platform where users can connect their wallets to receive the KNINE airdrop. Once investors connect their wallets, they essentially grant the scammers direct access to their funds, leading to significant losses. 

Previous Warning Regarding KNINE Token 

The teams behind the Shiba Inu and K9 projects have consistently issued warnings concerning KNINE to keep investors safe. 

For instance, K9 Finance DAO founder Buzz warned investors not to buy KNINE on any platform before its official launch date on March 7. Buzz issued the warnings after scammers attempted to sell fake KNINE tokens to investors before its official launch date.   

Notably, after its debut, KNINE spiked 700% a few days later to register an all-time high (ATH) of $0.0003543 on March 11. KNINE is currently down 72.7% from its ATH, with a unit priced at $0.00009513. 

Cardano to $3.15, UK Finance Experts Predict Timeline

Mark Brennan
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Cardano to $3.15, UK Finance Experts Predict Timeline

Despite its recent struggles, a pool of experienced UK market analysts expects Cardano (ADA) to beat its previous all-time high within the next six years.

Cardano sits among the top 10 largest cryptocurrencies by market capitalization and also boasts one of the most dedicated communities. Nonetheless, the price of Cardano has not always lived up to expectations, with Dogecoin recently usurping ADA to become the eighth-largest cryptocurrency by market value.

For many investors, the genuine worry is whether Cardano can bounce back to its glory days and possibly set a new high. While there is no guaranteed way to predict such an outcome, a review of a prediction by a panel of experienced investors and traders offers some insight.

Cardano to Bounce Back and Hit $3.5 By 2030

According to Finder’s panelists, the outlook for Cardano is mixed. The cryptocurrency’s price will rise in the future, but not as much as some expect. For instance, certain analysts predict that Cardano could hit the double-figure price mark in a few years.

However, Finder’s panelists forecast a more gradual but sustained growth. They expect the upcoming Bitcoin halving and associated bullish market sentiment to lift ADA to as high as $1.57 by the end of 2025.

If this prediction comes true, ADA will more than double its current market value of $0.64 per coin. This will also give the cryptocurrency a more than $50 billion market cap, but less than the $94 billion peak during the 2021 bull run.

Essentially, Finder’s experts do not expect Cardano to break its previous all-time high, both in market cap and price, during the current cycle. The previous all-time high, set in September 2021, stands at $3.10.

The bearish prediction is largely based on the panelists assuming that Cardano has lost its leadership position, which it had years earlier. Others argue that the network does not have the same technology as Ethereum’s virtual machine (EVM) and thus lacks the features necessary to bolster extra adoption.

For these reasons, the panelists predict that Cardano will only cross the $3 mark again in 2030. At that time, the cryptocurrency will surpass its current all-time high record by trading at $3.15.

It is worth noting that Cardano is well ahead of an earlier prediction made by the panelists. While they claimed that ADA would trade at $0.32 by the end of 2023, ADA closed the year at around $0.59. Therefore, there is a possibility that the cryptocurrency continues its run ahead of schedule and exceeds expectations.

Dogwifhat (WIF) Rallies Over 420% to Flip Pepe as Third Biggest Meme Coin 

Lele Jima
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Dogwifhat (WIF) Rallies Over 420% to Flip Pepe as Third Biggest Meme Coin 

Dogwifhat has recorded over 420% gain in the past month, as it flips Pepe to become the third-biggest meme coin by market capitalization.  

Popular Solana-based memecoin Dogwifhat (WIF) has continued its impressive rally, as its price surged to around $4 in the early hours of today. Following its remarkable rally today, the token’s market cap reached a whopping $4 billion.

Although WIF’s price has retraced in the hours leading up to press time, the token still boasts a daily gain of 16.5%, with a unit changing hands at $3.62. 

WIF Ranks as Third Biggest Meme Coin 

Its market cap is currently sitting at $3.63 billion, making it the third-biggest meme coin and the 41st-largest cryptocurrency in the market. 

The milestone currently places WIF behind Shiba Inu (SHIB) and Dogecoin (DOGE) in the top meme coin ranking. Conversely, WIF is now ranked ahead of other meme-based cryptos, like Pepe (PEPE) and Floki (FLOKI), valued at $3.25 billion and $2.35 billion, respectively. 

The development comes less than two weeks after Dogwifhat community members raised funds to sponsor a promotion for the token on Vegas Sphere. it appears the move paid off, as the token’s price has recorded substantial gains ever since.

WIF Biggest Holders Not Selling Despite Making Huge Profits 

The remarkable surge in WIF’s price has put many investors in huge profit. A notable mention is the profit recorded by one of the largest WIF holding addresses identified as “2Fcm…PE6d.”

According to famous Chinese reporter Colin Wu, amid the price surge, the address recorded a profit of $134 million, marking an increase of 1,440%. Wu revealed that the user behind the address started buying the token in December 2023 at an average cost of $0.248. 

Further investigations carried out by The Crypto Basic show that the address is the third-largest WIF address, with a holding of 37,627,488 (37.62 million) WIF tokens. This represents 3.76% of WIF’s total supply. 

Per data from Solana explorer Solscan, leading crypto exchange Binance sits as the largest WIF holder, with a holding of 143,088,036.921841 (143.088 million) tokens or 14.32% of the total supply. The second-biggest WIF address holds 4.26% of the token’s supply (42.6 million tokens) worth $152.51 million. 

Despite the substantial gains recorded in the past day, Wu said selling activities have yet to commence for the token. Apparently, investors are expecting the token’s price to surge further. 

Ripple Moves 130,000,000 XRP Amid Price Struggles

Mark Brennan
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Ripple Moves 130,000,000 XRP Amid Price Struggles

On-chain data shows a significant movement of XRP by Ripple as the cryptocurrency’s price grapples with $0.61.

In the past few months, the price of XRP has underperformed against the rest of the market. The recent revelation of a potential $2 billion for Ripple in its lawsuit with the U.S. Securities and Exchange Commission (SEC) also did not help XRP’s course in the past week.

Amid the turmoil, on-chain evidence also shows Ripple moving large sums of XRP. On Thursday, a blockchain address associated with the company transferred 130 million XRP ($79 million) to another wallet. 

The dynamics surrounding the transfer raise market fear that Ripple may be looking to sell some of its XRP holdings. The transfer involves a sparsely used address that also moved 100 million XRP in the past month, its first transaction since September 2022.

Interestingly, the freshly moved 130 million XRP remains untouched at the time of writing. However, market participants will evidently be monitoring its move and a potential impact on XRP price.

At the time of writing, XRP is trading at $0.61. This represents a 2% loss over the last seven days and a mere 4% gain in the past month despite Bitcoin (BTC) soaring to record new all-time highs within this period. 

Ripple CTO Admits It Hard Not to Sell XRP

The latest development comes less than two days after Ripple’s CTO David Schwartz admitted that it is almost impossible for the company not to sell XRP.

The CTO noted that the sales of XRP provide a channel for the company to distribute XRP ownership more. The community has always complained about the large amount of the XRP that Ripple holds, a situation Schwartz admits the company can primarily change through sales of XRP.

Evidently, Ripple has to properly address the latest community concerns or risk seeing more stakeholders and investors exiting the project. Earlier this week, popular XRPL software developer and infrastructure provider Dev Null Productions announced it was leaving the network.

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