Earlier this week, favourable Consumer Price Index (CPI) data boosted market sentiments for the crypto market. Today, all eyes are on the Producer Price Index (PPI) as this crucial indicator could reinforce, or reverse, the fresh optimism for Bitcoin and other crypto assets.

The US CPI dropped to 2.3% in April, indicating a cooling of inflation in the US economy. As the data was confirmed on Tuesday, Bitcoin rallied to fresh highs, promising an all-time high soon. However, as profit-taking posed resistance, BTC prices have now dropped gradually to below $102K.

US PPI Data to Boost Crypto Markets?

Today, at 8.30 am EST, the U.S. Bureau of Labor Statistics will release the PPI data. Last month, the PPI final demand decreased 0.4 percent, and the index advanced by 2.7 percent year-on-year. If there is any improvement in these figures, it will be good news for the market and will demonstrate sustained deceleration for inflation in the US.

The US PPI tracks the wholesale-level price pressures and offers clues on whether inflation is truly cooling or merely shifting upstream. Consensus forecasts centre on a 0.3 percent monthly rise and a 2.7 percent annual gain in April’s PPI.

While the market has already factored in the consensus forecasts, any deviation from them in either direction can trigger panic in the crypto market.

The markets remain tense ahead of the data release, with BTC prices dropping 1.7% over the last 24 hours. The total crypto market cap has already rallied back above $3.38 trillion on optimism ahead of the data.

Initial Jobless Claims Report Adds Uncertainty

The U.S. Department of Labor’s weekly Initial Jobless Claims report is also scheduled for release today at the same time. This report provides the number of individuals filing for unemployment benefits for the first time during the previous week.

For the week ending May 3, the data showed a decrease in initial claims to 228,000 from 241,000 the previous week, indicating a resilient labor market. If the trend sustains, it could be a factor for crypto markets to climb higher in the coming days.

While numerous factors affect the movements in the crypto markets, major digital assets like Bitcoin and Ethereum have decisively moved into the macro camp. Meaning, changes in inflation, Fed rates, and GDP can have massive implications for them as more and more institutional money flows into the crypto markets.

While the prices remain volatile, BlackRock’s Bitcoin ETF has scooped up 2,250 BTC from the market on a single day on Wednesday. If today’s release indicates a favourable outcome like lesser inflation and a stable labor market, Bitcoin could therefore be entering the bull’s territory again to challenge its all-time high.

The post After CPI Boost, Will US PPI Data Fuel Crypto Rally Today? appeared first on CoinGape.

VanEck’s new tokenized Treasury fund “VBILL” is set to launch on Binance (BNB), providing institutional tailwinds. Can this drive BNB’s price to new all-time highs as it rebounds with a rising channel?

VanEck Launches VBILL Fund on Binance Chain

VanEck, an asset management company, announced a tokenized real-world asset (RWA) fund, VBILL, to offer exposure to short-term U.S. Treasury bills. This milestone development is in partnership with Securitize, and the VBILL will operate on Binance Smart Chain, Ethereum, Solana, and Avalanche blockchains.

The launch marks a monumental shift in TradFi towards blockchain technology with the tokenized U.S. Treasuries. Notably, the VBILL accounts for $6.9 billion of the total RWA market. Driving the blockchain narrative, Securitize previously tokenized over $3.9 billion in assets from BlackRock.

The $100,000 minimum investment barrier for the VBILL fund exposure targets High-Net-Worth Individuals (HNI) and institutions. Such individuals could fuel the capital flows to all four blockchains as a real-world use case of BNB Chain boosts its credibility in the blockchain-based capital markets. 

Institutional Tailwinds to Ignite New All-Time High

BNB price trades at $648 after a 10% jump last week, forming a bullish candle. Following the 70% crash from $670 to $202 between November 2021 and October 2023, Binance coin remained an underperformer. Since the 2023 low, the altcoin has surged 270% and formed a new all-time high at $794. 

The bullish trend forms a rising channel in the weekly and the previously mentioned bullish candle, suggesting a bounce back. The bull run in BNB’s price trend targets the current all-time high at $793, an upside potential of 21%. 

Additionally, the weekly Relative Strength Index (RSI) line rebounds from the halfway point after a steep pullback. The MACD indicator hints at the start of a new positive histogram cycle. Hence, technical indicators support the uptrend continuation thesis within the rising channel, aligning with the Binance coin price prediction of a new all-time high in 2025. 

Conversely, a breakdown under the local support trendline will nullify the bullish pattern, risking the $495 retest. 

In conclusion, VanEck’s VBILL fund launch on Binance Chain is a pivotal development in institutional interest with a $6.9B tokenized U.S. Treasuries. Fueling investor confidence, a reversal in Binance Coin’s price could support a potential rally toward the $800 level.

The post Binance Chain Project Onboards VanEck’s VBILL – Here’s How It Will Affect BNB Price appeared first on CoinGape.

Dogecoin (DOGE) is defending the $0.20 support level after the SEC’s move to acknowledge 21Shares’ DOGE ETF filing sparked hope of a recovery despite the market-wide pullback. Daily active addresses have soared to a multi-month high, but with Dogecoin price down by 5% in 24 hours to trade at $0.22 at press time, what’s next for the meme coin?

Dogecoin Price Defends $2.20 as Active Addresses Hit 674,000

DOGE price dropped to $0.22 on Thursday after falling from an intraday high of $0.238. The dip coincided with Bitcoin’s drop to $101,000, which triggered fear of a return to sub-$100K levels and the end of the recent bull run.

However, DOGE traders remain relentless after the daily active addresses surged by more than 800% in the last two days from 74,000 to 674,000. These addresses are at the highest level since November 2024.

This increase points toward a massive surge in Dogecoin’s network usage and speculative behaviour. It may also suggest that some traders are accumulating the dip, highlighting confidence that a Dogecoin price breakout is looming.

The surging daily active address count also coincides with high Dogecoin open interest, which shows that trader interest is still at peak levels and that the bullish momentum has not subsided.

The rising number of active addresses is linked to two factors: hype around a spot DOGE ETF approval and the launch of cbDOGE products on the Coinbase exchange.

DOGE ETF Hype Soars After SEC Update

Earlier this week, the SEC acknowledged 21Shares’ filing to offer a spot DOGE ETF product, and this is driving bullish momentum towards the Dogecoin price. This acknowledgement places the product closer towards approval, as the DOGE community looks up to the October deadline.

The move has seen the odds of a spot DOGE ETF gaining approval in 2025 soaring to 68% on Thursday, which is the highest level in nearly two weeks. Data from Polymarket also shows that 24% of traders anticipate approval by July 2025.

President Trump’s pro-crypto administration and the confirmation of Paul Atkins as the SEC Chair have increased the odds of more altcoin ETFs launching in the US. Bloomberg notes that Dogecoin has the fourth-highest chance of gaining approval after Litecoin, Solana, and XRP.

Coinbase cbDOGE Launch Drives Market Interest

Coinbase has teased the launch of cbDOGE wrapped tokens on the Coinbase layer two network, which is also spiking the market interest towards Dogecoin. In a recent X post, Coinbase stated,

“cbADA, cbDOGE, cbLTC, cbXRP coming soon. These assets are not yet live or available. We will announce their launch at a later date.”

These products have yet to launch, but DOGE holders anticipate they will drive a bull run for Dogecoin price. Once live, cbDOGE will be used to conduct DeFi activity on Base, which is currently the 6th largest DeFi network with $4.74 billion in TVL per data from DeFiLlama.

DOGE Price Analysis as MACD Buy Signal Emerges

Dogecoin price eyes a continuation of the current bullish trends as it attempts to make a decisive weekly close above the neckline resistance of a rounding bottom pattern. If it confirms this breakout, it will trigger an 84% rally to $0.44 in the coming weeks.

The MACD supports the bullish Dogecoin price prediction highlighted in the weekly chart as the MACD line tips north and teases a crossover above the signal line. Doing so will create a buy signal that will push DOGE higher, considering that the last time this signal emerged, the price increased over fivefold.

However, for this bullish trend to hold, the RSI needs to continue rising and form a series of higher highs above 50. Currently, the RSI has stalled at the zero line, indicating that the buying pressure is weak.

Therefore, as the number of active DOGE addresses spikes, a bullish momentum is likely next for Dogecoin price as it shows rising demand and speculative activity. The rising addresses come amid hype around a spot DOGE ETF approval and the launch of cbDOGE products on the Coinbase exchange.

The post What’s Next For Dogecoin Price as Active Addresses Soar 800% Amid DOGE ETF Hype? appeared first on CoinGape.

Coinbase has fallen victim to a cyberattack, becoming the latest casualty in the growing crypto hacks. In an unusually targeted attack, the criminals allegedly bribed and recruited rogue overseas support agents to gain access to users’ personal data. Both Coinbase and its CEO, Brian Armstrong, issued statements outlining the impact and the countermeasures on Thursday morning.

The company claims that no sensitive data was breached, but the crypto exchange has pledged to reimburse any affected customers. In addition, the platform has launched a $20 million reward fund to track down the perpetrators.

Coinbase Cyberattack: Criminals Target User Data

Coinbase revealed the cyberattack on social media and shared that hackers targeted the personal data of Most Trusted Users (MTU). “No passwords, private keys, or funds were exposed. Prime accounts are untouched,” Coinbase wrote on X.

The hackers allegedly sent an email to the exchange, demanding a ransom to keep the stolen data under wraps. In response to the threat, CEO Brian Armstrong shared a video post, firmly stating, “No, we are not going to pay your ransom.”

Details of Data Breach

Elaborating on the hackers’ attempt to steal users’ personal information, Brian Armstrong stated that less than 1% of the users’ personal data is likely to have been compromised.

Though they bribed customer support agents overseas, they failed to steal sensitive data, claims Coinbase. Instead, they gained access to personal information, including customers’ names, addresses, and other contact details. Brian suspected that the hackers could impersonate Coinbase executives to its users using the customer data gathered from the cyberattack.

In addition, they got access to the last four digits of Masked Social Security numbers, Masked bank‑account numbers, and some bank account identifiers, identity proofs, account data, and more.

At the same time, they failed to steal sensitive information, including Login credentials, private keys, customer funds, and prime account details. They were also blocked from accessing customers’ hot and cold wallets.

Notably, this development follows Telegram’s recent crackdown on Haowang Guarantee, a major darknet marketplace. This highlights the growing need for solid security measures and regulations amid the increasing crypto hacks.

Coinbase Promises Reimbursement and Enhanced Security

Addressing the crypto exchange hack, the crypto exchange has promised to reimburse the affected users. Coinbase cyberattack victims can claim reimbursement if they were tricked into sending funds to the attackers due to social engineering attacks. To further safeguard customers, flagged accounts will now require additional ID checks on large withdrawals and include mandatory scam-awareness prompts.

Moreover, the platform has opened a new support hub in the US, implementing stronger security controls and monitoring across all locations. As the company has initiated investigations into the crime, customers will be provided with regular updates on the matter.

Last year, one of the largest crypto exchanges in India, WazirX, also faced a similar cyberattack where hackers stole a staggering $230 million on July 18, 2024. The attack had forced the exchange to halt operations and freeze the user funds, a resolution to which is still awaited.

The post Breaking: Coinbase Suffers Cyberattack, Promises Reimbursement appeared first on CoinGape.

Ethereum just landed a major vote of confidence. Blockchain infrastructure firm BTCS Inc. secured financing to purchase up to $57.8 million worth of ETH, aligning with its long-term validator and staking expansion.

A Confidence Boost from BTCS

The first $7.8 million tranche closed on May 14. BTCS CEO Charles Allen personally participated in the round, likening the move to MicroStrategy’s Bitcoin playbook. He emphasized that Ethereum is at a ‘critical inflection point’ of its growth trajectory, exhibiting potential as both a core asset and a revenue engine through validator rewards and block production.

Ethereum spot ETFs saw a net inflow of $63.5 million on May 14, which was quite a turnaround after nearly two weeks of persistent outflows.

This rise was led by BlackRock (ETHA) and Fidelity (FETH), which shows a possible shift in institutional sentiment as ETH consolidates above $2,500.

Over the last week, Grayscale’s ETHE continued to bleed funds, but other issuers showed renewed activity. If inflows sustain, this could be an early sign of accumulation before Ethereum’s next move.

Is This Ethereum’s Turning Point?

Ethereum’s role as a yield-generating asset makes it attractive in a sideways market. The BTCS strategy highlights this by focusing on validator expansion, staking rewards, and block-building via its Builder+ platform.

Meanwhile, derivatives data shows ETH market participation growing, with open interest rising 4.52% to $32.33 billion and volume crossing $121 billion, per Coinglass. These metrics often precede price rallies, suggesting renewed positioning.

Importantly, this accumulation comes as Ethereum continues to hold its $2,000–$2,200 support zone, a level analysts say could serve as a springboard toward $3,000 or higher.

Ethereum is currently said to be at a pivotal price zone. At $2,552, it saw a 2.19% daily dip, but is still up 50% weekly after hitting $2,750. If support holds above $2,200, bullish analysts forecast a push toward $3,200 and possibly $4,200 in the near term.

Market watchers are closely monitoring whether ETF inflows continue and if retail demand follows.

Just today, Ethereum launched its trillion-dollar network security upgrade, which is aimed at securing institutional adoption. The initiative is a major step in Ethereum’s roadmap, and now the ETH Price Target is set at $4,200. 

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