Internet Computer (ICP) Beats ETH, ADA To Claim Top Spot In Key Metric

An Iranian cryptocurrency exchange called Nobitex got hit by hackers who stole a whopping $48 million. The company admitted the breach on social media, saying their "hot wallets" (a type of digital storage vulnerable to online attacks) were compromised. While they didn’t directly blame anyone, the timing raises eyebrows—some suspect an Israel-linked cyber group might be behind it, though nothing’s confirmed yet.

Editor’s Note: Crypto hacks are nothing new, but this one’s messy for a few reasons. First, it’s a huge financial blow for Nobitex and its users. Second, if state-backed hackers are involved (especially given Iran-Israel tensions), it turns a financial crime into a geopolitical headache. For everyday crypto traders, it’s another reminder that even exchanges aren’t bulletproof—so maybe keep your digital cash in cold storage.

Bitcoin's Network Value to Transactions (NVT) Golden Cross—a key on-chain metric—has spiked above 2.2, entering a zone that’s historically flagged the cryptocurrency as overvalued. Analysts are sounding the alarm, suggesting BTC might be priced too high relative to its actual network usage.

Editor’s Note: If Bitcoin’s price is outpacing its real-world transaction activity, it could signal a bubble—or at least a pullback waiting to happen. For traders and long-term holders alike, this metric is a heads-up to watch for potential volatility or a cooling-off period. Not a doom-and-gloom scenario, but definitely worth keeping an eye on.

Eric Trump is pushing back against rumors that he’s involved in Tron’s plans to list on Nasdaq, despite being named as an advisor to the firm managing the deal. He’s calling the speculation unfounded, even as the lines between crypto and politics keep blurring.

Editor’s Note: With crypto becoming a hotter topic in political circles, any whiff of high-profile connections—especially involving figures like the Trumps—gets attention. Eric’s denial matters because it highlights how sensitive these ties are, and how quickly rumors can spread in an industry that’s still figuring out its relationship with regulators and power players.

A major Iranian cryptocurrency exchange, Nobitex, appears to have been hacked for a staggering $73 million, according to blockchain investigator ZachXBT. The attackers reportedly used vanity addresses—customized crypto wallet addresses—to pull off the theft, draining funds from the exchange’s wallets.

Editor’s Note: This isn’t just another crypto hack—it’s a reminder of how vulnerable exchanges, especially those in regions with less regulatory oversight, can be. For users, it’s a warning to be cautious with where they store their crypto. For the industry, it’s another black eye at a time when trust in digital assets is already shaky. And given Iran’s economic isolation, the impact on local traders could be even more severe.

BitMEX co-founder Arthur Hayes is sounding the alarm on what he calls "Circle copycat" stocks—companies that mimic the business model of stablecoin issuer Circle but lack its fundamentals. Hayes predicts these imitators could face a harsh reckoning as market conditions tighten, drawing parallels to past crypto bubbles. His blunt take? Many are overhyped and doomed to fail.

Editor’s Note: If you've been eyeing crypto-adjacent stocks riding the stablecoin wave, Hayes' warning is a bucket of cold water. His track record in crypto gives his skepticism weight, and if he's right, investors chasing knockoffs of proven players like Circle might get burned. It’s a reminder that in crypto, not everything that glitters is gold—sometimes it’s just glitter.