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8 May 2026, 14:12
Cardano Price Eyes Breakout Above the $1 Mark
Cardano appears to be repeating a familiar breakout pattern, sparking renewed speculation that it could soon reclaim the $1 level. This follows a period of renewed price momentum in the past seven days. Visit Website
8 May 2026, 14:10
Ethereum falls 5.6 percent in one week to $2,275
🟠 ETH slid 5.6 percent in a week, now at $2,275. Network activity, DEX trading, and staking all sharply declined in $ETH. 🚨 Key point: If $ETH falls below $2,000, a drop to $1,830 could follow. Continue Reading: Ethereum falls 5.6 percent in one week to $2,275 The post Ethereum falls 5.6 percent in one week to $2,275 appeared first on COINTURK NEWS .
8 May 2026, 14:03
Problems pile up for LayerZero amid fresh memecoin trading accusations
LayerZero, a cross-chain messaging platform, is facing new accusations of operations security (OPSEC) failures. According to reports, its production multisig signing keys traded McPepes memecoin on Uniswap. Per the allegations, which were made public on May 8, 2026, faults were directed to key management techniques used by blockchain infrastructure companies. What happened with LayerZero’s 2-of-5 Gnosis Safe multisig? The accusations center on reckless use of LayerZero’s 2-of-5 Gnosis Safe multisig, a method by which they secure their users’ tokens and control key parts of their OFT infrastructure. From screenshots of an internal discussion that went viral on X, three of the five signers of the Gnosis Safe multisig were actively involved in activities unrelated to the multisig process. 🚨JUST IN: @LayerZero_Core is facing opsec allegations after production multisig keys used to secure user funds were reportedly also used to trade the McPepes memecoin. LayerZero’s Bryan said the transactions were made by people who were part of the LZ multisig but have since… pic.twitter.com/k5YR7jyCg6 — SolanaFloor (@SolanaFloor) May 8, 2026 Signer addresses include: 0x1f5E377a3ADBe6f3289ADb6b21eae6427dfbb553, which is associated with the trading of the memecoin called PEPES (McPepes) and the Hop platform. 0xBb6633c267951E938F9B6421E4F54aa5b2c19326, which held approximately $12 million and engaged in Stargate staking. 0x6fC8342C448F9a8d541C17579EF7A14237b8d5aD, involved in liquidity provisioning on Curve, PancakeSwap, and SpookySwap. A notable transaction on March 1, 2023, involved exchanging 0.198548073 ETH for approximately 1.73 million tokens of the ERC-20 token McPepes/PEPES via Uniswap V3. This has been cited as evidence that the production keys, whose purpose was to safeguard billions of dollars, were linked to websites outside the network, thereby leaving them vulnerable to phishing attacks. The multisig lacked a timelock, and the keys remained stagnant for several years. The same parties are responsible for the multisig-controlled DVN settings and libraries for LayerZero-compatible protocols . On-chain transactions support the assertion that the production signers performed Uniswap swaps for the McPepes prior to the PEPE token deployment schedule. Reported vulnerabilities tied to the multisig setup The LayerZero multisig was created to serve as the ultimate layer of protection for bridged tokens. Nevertheless, the described actions broke the fundamental OPSEC rule of key isolation. By using the same keys to trade on decentralized exchanges, the signers risked vulnerability to attacks from malicious contracts and phishing schemes. It is worth mentioning that only two stolen keys were enough to empty the whole multisig. The timing of the disclosure is associated with increased scrutiny of LayerZero’s security approach. As reported by Cryptopolitan, only hours before that, Solv Protocol revealed its intention to migrate more than $700 million worth of tokenized BTC (SolvBTC and xSolvBTC) to Chainlink’s CCIP from LayerZero. The company cited updates to security reviews and bridge issues, such as the recent Kelp DAO hack that used LayerZero bridges. Although Solv did not mention this incident in its announcement, it still illustrates a certain degree of skepticism toward LayerZero. LayerZero’s CEO Bryan Pellegrino speaks on the matter In response to the accusations, LayerZero’s CEO, Bryan Pellegrino, said the transactions originated from former members of the multisig wallet who had been booted out. He denied there was any such thing as “memecoin trading,” saying that it was just OFT testing, not speculations. Furthermore, he pointed out that the wallets were no longer involved in signatory functions. LayerZero CEO Bryan Pellegrino denies accusations. Source: X As shown in the screenshots, skeptics raised issues regarding the description of the incident, citing that the transaction was between McPepes (not PEPE) and raising doubts about how ETH to memecoin trading via Uniswap could be classified as OFT tests. The signers in question have reportedly been removed from the multi-signature. No counter-rebuttal or full audit of all previous actions carried out by the signers had been made public by LayerZero. Crypto Twitter goes after LayerZero Zach Rynes has gone against LayerZero, calling the security measures a “horrific opsec.” Rynes pointed out the dangers posed by such behavior to users running LayerZero in its default settings. He has cited potential supply-chain exploits. Additionally, he asserts that production keys must never be used for anything other than vital tasks. I genuinely wish I were joking, it’s horrifying what passes for “opsec” in this industry — Zach Rynes | CLG (@ChainLinkGod) May 8, 2026 X community reactions range from shock at what they perceived as “clowns and criminals” working within the infrastructure domain to a call for more openness and transparency. Any potential vulnerabilities within the multisig of LayerZero, which acts as an intermediary for chain-to-chain communication, could be very concerning. The smartest crypto minds already read our newsletter. Want in? Join them .
8 May 2026, 14:00
Gold: PBoC Buying Underpins Central Bank Demand, Commerzbank Says
BitcoinWorld Gold: PBoC Buying Underpins Central Bank Demand, Commerzbank Says The People’s Bank of China (PBoC) continues to be a significant force in the global gold market, with its sustained purchasing activity providing a solid floor under central bank demand, according to a new analysis from Commerzbank. The report underscores how China’s strategic accumulation of gold reserves is reshaping the demand landscape for the precious metal. PBoC’s Strategic Gold Accumulation The PBoC has been a consistent buyer of gold for over a year, a trend that Commerzbank analysts argue is not merely a short-term hedge but a long-term strategic shift. This buying spree, which has seen China add hundreds of tonnes to its official reserves, is driven by a desire to diversify away from the US dollar and bolster the yuan’s international standing. The bank’s analysts note that this policy is likely to persist, providing a reliable source of demand that other central banks are increasingly mirroring. Broader Central Bank Trend Commerzbank’s report places China’s buying within a global context. Central banks across emerging markets, particularly in Asia and Eastern Europe, have been net purchasers of gold for years. This trend, which accelerated after the freezing of Russian central bank assets in 2022, reflects a broader de-dollarization movement. The analysts point out that this structural demand is less sensitive to price fluctuations than private investment demand, making it a key stabilizing factor for gold prices. Implications for Gold Prices For investors, the implication is clear: central bank buying, led by the PBoC, is creating a price floor that could limit downside risk even if other demand sources, such as jewelry or ETFs, weaken. Commerzbank’s assessment suggests that this institutional support is a critical variable for gold’s medium-term outlook, particularly against a backdrop of geopolitical uncertainty and potential interest rate cuts by major central banks. Conclusion The Commerzbank analysis reinforces the view that central bank demand, anchored by the PBoC’s ongoing purchases, is a defining feature of the current gold market. This structural shift, driven by geopolitical and economic strategy, provides a robust foundation for gold prices and signals a lasting change in the composition of global gold demand. FAQs Q1: Why is the PBoC buying so much gold? The PBoC is buying gold to diversify its foreign exchange reserves away from the US dollar and to support the internationalization of the Chinese yuan. It’s a strategic move to reduce reliance on a single reserve currency. Q2: How does central bank demand affect gold prices? Central bank buying provides a consistent, price-insensitive source of demand that can absorb supply and support prices. It is often seen as a bullish signal because it reflects long-term strategic thinking rather than short-term speculation. Q3: Are other central banks following China’s lead? Yes. Many central banks in emerging markets, including those in Turkey, India, and Poland, have been increasing their gold reserves. This trend is part of a broader de-dollarization movement that has gained momentum in recent years. This post Gold: PBoC Buying Underpins Central Bank Demand, Commerzbank Says first appeared on BitcoinWorld .
8 May 2026, 13:57
Bitcoin Fights for $80K, Strategy Posts Big Q1 Loss, Coinbase Cuts Jobs: Your Weekly Crypto Recap
It was another eventful week in the cryptocurrency space on the heels of the decisions made by the US Federal Reserve and the ECB to maintain the interest rates unchanged days prior. Despite BTC’s short-term price dip to under $75,000 after the third FOMC meeting of the year on April 29, the cryptocurrency rebounded swiftly and actually went on an impressive roll. At first, it remained stable during the weekend, even though Washington rejected two peace proposals sent by Iran. Moreover, bitcoin soared to over $80,000 on Monday morning for the first time in over three months, before it was halted and pushed south to under $78,400 after some confusing reports that Iran had attacked a US Navy vessel in the Strait of Hormuz. As the reports were refuted shortly after, BTC rebounded once again to $80,800 and eventually beyond. The rally continued for a couple more days and peaked at $82,800 on Wednesday. This became bitcoin’s highest price tag since late January and meant that the asset had added roughly $8,000 since last Wednesday’s dip to below $75,000. However, multiple analysts warned that this run is unsustainable and BTC could reverse its trajectory soon, which is precisely what happened on Thursday and mostly on Friday. Bitcoin lost the $80,000 support and now trades inches below it, but it’s still slightly in the green on a weekly scale. Some altcoins have performed even better, but none is more impressive than ZEC. Zcash has risen by more than 60% weekly, followed by ONDO’s 48% pump, and WLFI’s 32% jump. Market Data Cryptocurrency Market Overview Weekly May 8. Source: QuantifyCrypto Market Cap: $2.73T | 24H Vol: $103B | BTC Dominance: 58.4% BTC: $79,600 (+1.3%) | ETH: $2,270 (-1.8%) | XRP: $1.39 (-0.8%) This Week’s Crypto Headlines You Can’t Miss Wall Street Giant Morgan Stanley Enters Crypto Race With Pricing Edge: Report . The behemoth US bank, which has been a crypto supporter for a long time, is reportedly set to introduce digital asset trading on its E*Trade platform. It plans to compete on lower costs compared to rivals, and will initially allow clients to trade BTC, ETH, and SOL. Strategy Posts $12.5B Q1 Loss as BTC Prices Weigh on Results . The Saylor-led company didn’t disclose a BTC purchase last week, but posted its Q1 results, which were quite bleak to say the least. It reported a net loss of over $12.5 billion, largely due to a $14.5 billion unrealized loss from poor BTC prices. Coinbase Slashes Jobs by 14% to Become ‘Lean, Fast, AI-Native’ . In line with some of its rivals, such as Crypto.com and Gemini, the largest US-based crypto exchange also announced a substantial staff layoff earlier this week. It reduced its workforce by around 14% as it focuses on more AI integrations. Bitcoin Shoots Past $82K, Fuels Altseason Speculation . Bitcoin’s rally to new multi-month highs was followed by even more impressive price pumps from several alts, such as ZEC, TON, WLFI, and others. This led to immediate speculations about a potential altseason, but the following few days didn’t support this narrative. Crypto Exchange Bullish Strikes $4.2B Deal to Acquire Equiniti . The popular cryptocurrency exchange revealed earlier this week that it’s all set to acquire Equiniti, a global transfer agent. The press release informed that the agreed amount for the deal is a whopping $4.2 billion. WLFI Lawsuit Sparks Response: Justin Sun Calls It ‘Meritless’ . The relationship between Justin Sun and the Trump-based World Liberty Financial project has deteriorated over the past few weeks, leading to a couple of lawsuits. The first was initiated by the Tron founder, while the DeFi protocol responded with its own earlier this week, which Sun called “meritless.” Charts This week, we have a chart analysis of Ethereum, Ripple, Cardano, Binance Coin, and Hyperliquid – click here for the complete price analysis . The post Bitcoin Fights for $80K, Strategy Posts Big Q1 Loss, Coinbase Cuts Jobs: Your Weekly Crypto Recap appeared first on CryptoPotato .
8 May 2026, 13:55
Is Starknet the next big privacy coin after STRK’s 35% surge?
Starknet's price has surged nearly 35% in the past 24 hours, reaching intraday highs of $0.061, with this coming amid a 400% spike in daily volume. Gains have pushed the STRK token’s price to a robust 71% uptick over the past month, mirroring renewed interest in privacy-focused assets. Notably, the upward trajectory mirrors strong performances for Zcash (ZEC) and Dash (DASH). The two coins have advanced 63% and 40%, in the past week. Starknet touts post-quantum wallet readiness Zcash once again leads the upward momentum in privacy coins, with bulls looking for a decisive breakout above $600 following this week’s retest of the supply zone. On Friday, ZEC traded above $571 amid news of Zcash’s quantum-recoverable wallets. With privacy and quantum threats a key narrative in the market, the focus is on wallet-level updates to bolster defenses against future quantum threats. It is adding momentum to leading projects. “With the lack of government trust at the moment, the privacy sector has been seeing a boost in interest from retail traders. The crowd is increasingly viewing privacy-focused assets as a hedge against growing surveillance concerns, tighter exchange regulations, and expanding AI-driven data tracking across financial platforms,” Santiment noted. Starknet has positioned itself with the rollout of post-quantum secure wallets on its mainnet, which went live as the Shinobi upgrade (v0.14.2) launched in April 2026. This upgrade introduced critical infrastructure for private transactions, enabling shielded assets under the new STRK20 framework. The release supports privacy-preserving ERC-20 tokens while maintaining DeFi compatibility. Analysts say these developments could transform Starknet from a high-performance Layer-2 rollup into a privacy-centric engine. STRK price gained on May 8, amid the project’s post about this milestone Starknet price outlook Overall market sentiment is bullish on leading privacy coins. Apart from this, STRK is benefiting from Starknet's growing traction in Bitcoin DeFi and staking features. The launch of strkBTC to allow Bitcoin holders to tap into decentralized finance via a secure, shielded environment highlights Starknet’s potential to lead the BTCFi market. strkBTC goes live on May 12, 2026, and bullish sentiment around the event could cascade into STRK price performance. The altcoin has jumped nearly 75% from its all-time low in mid-April. However, bulls remain well off the highs of $0.28 reached in November 2025 and the all-time peak of $3.66 in February 2024. Starknet price chart by TradingView Technically, STRK exhibits prolonged accumulation, with bears capping a recent upside just above $0.051. However, the latest surge signals a potential breakout from the range, and $0.060 a key hurdle. If the privacy narrative persists, $0.093-$0.105 will be a crucial retest zone. However, a pullback is likely due to widespread profit-taking across altcoins. The scenario could see STRK revisit $0.030. STRK price hovered around $0.057 at the time of writing. The post Is Starknet the next big privacy coin after STRK’s 35% surge? appeared first on Invezz
