Here is a 2-minute breakdown of everything important that happened in crypto today.
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ETH just broke above $3,300.
The shorts didn't see it coming. Over $152 million worth of positions got wiped out as ETH surged 9%, leaving traders scrambling and exchange notifications going wild.
While Bitcoin's playing it safe, Ethereum is running the show. The Fear and Greed Index sits at 68, officially in greed mode. Meanwhile, the CMC Altcoin Season Index climbed to 37, inching closer to altcoin season.
And WLFI just got trading approval - because apparently even Trump-backed tokens need their moment.
So what's driving all this action? Here's today's top crypto stories:
- More than $152 million worth of short positions got wiped out as ETH surged 9% past $3,330. What caused this massive surge? 🚀
- Bitcoin jumped to $119,500 then pulled back as Trump called Powell's performance "lousy" but said "we're not planning on doing anything." What happens to Bitcoin if Trump actually fires Powell? 💼
- World Liberty Financial token holders voted 99% in favor of allowing WLFI tokens to trade on exchanges. What's the exact unlock plan for these tokens? 🗳️
- XRP hit $3.05 while futures activity smashed through $8.8 billion, surpassing the previous peak from late January. What's driving institutions to bet so heavily on XRP right now? 📈
- Consensys released a valuation model predicting ETH could hit $15,800 by 2028 based on the "trustware" era. What's the logic behind their massive price prediction? 🤔
Ethereum Shorts Lose Millions in Single Day
More than $152 million worth of short positions got wiped out as ETH surged 9% past $3,330. That's over half of all crypto liquidations in the past day.
While Bitcoin traders are playing it safe with a modest gain, Ethereum is outpacing it in both price action and trading volume.
The futures market jumped 27% while open interest climbed significantly.
Trump Backs Down From Firing Fed Chair Powell
Bitcoin jumped to $119,500 then pulled back as Trump called Powell's performance "lousy" but said "we're not planning on doing anything."
The central tension is about interest rates. Trump wants them lowered, but the Fed has kept rates steady while watching for potential inflation from tariffs.
Trump-Backed Token Gets Trading Approval
World Liberty Financial token holders voted 99% in favor of allowing WLFI tokens to trade on exchanges.
This ends a lockup period that started after the protocol raised $590 million last year.
World Liberty Financial is developing a DeFi platform that includes their own dollar stablecoin.
XRP Open Interest Breaks All Records
XRP hit $3.05, marking a six-month high, while futures activity smashed through $8.8 billion. That's a new record that surpassed the previous peak from late January.
Bitget and Binance are controlling nearly $3.5 billion worth of leveraged positions between them.
Consensys Says Ethereum Could Go Much Higher
Consensys released a valuation model predicting ETH could hit $15,800 by 2028 based on what they call the "trustware" era.
Ethereum currently has secured $220 billion in high-quality liquid assets, significantly outpacing Solana.
The global economy spends over $9 trillion annually on trust infrastructure.
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