An unidentified cryptocurrency whale injected millions of dollars in emergency capital to avoid a potential liquidation of more than $300 million in Ether as markets slumped amid renewed macroeconomic pressure.

The whale is reportedly close to liquidation on a 220,000 Ether (ETH) position on MakerDAO, a decentralized finance (DeFi) lending platform. To stave off liquidation, the investor deposited 10,000 ETH — worth more than $14.5 million — and 3.54 million Dai (DAI) to raise the position’s liquidation price, blockchain analytics firm Lookonchain said in an April 7 post on X.

“If $ETH drops to $1,119.3, the 220,000 $ETH($340M) will be liquidated.”

Source: Lookonchain

The development came hours after another Ether investor was liquidated for over $106 million on the decentralized finance (DeFi) lending platform Sky.

The whale lost more than 67,000 ETH when the asset crashed by around 14% on April 6. Sky’s system employs an overcollateralization ratio, typically 150% or higher, meaning that users need to deposit at least $150 worth of ETH to borrow 100 DAI.

Related: Decentralized exchanges gain ground despite $6M Hyperliquid exploit

According to data from CoinGlass, more than 446,000 positions have been liquidated in the past 24 hours, with total losses surpassing $1.36 billion. That includes $1.21 billion in long positions and $152 million in shorts.

Crypto market liquidations, 24-hours. Source: CoinGlass

The largest single liquidation was a $7 million Bitcoin (BTC) position on crypto exchange OKX.

Related: Smart money still hunting for memecoins despite end of ‘supercycle’

Crypto markets crash after Trump’s tariff announcement, but 70% recovery chance by June

US President Donald Trump announced his reciprocal import tariffs on April 2, which sent tremors across global markets, leading to a $5 trillion loss by the S&P 500, its largest two-day drop on record.

Still, the tariff announcement may finally end the global uncertainty plaguing traditional and digital markets for the past two months.

“In my opinion, the tariffs are the representation of the uncertainty in the markets,” Michaël van de Poppe, founder of MN Consultancy, told Cointelegraph. “Liberation Day is basically the peak of that period, the climax of uncertainty. Now it’s out in the open. Everybody knows the new playing field.”

The end of tariff-related uncertainty may bring the start of a “rotation toward the crypto markets,” as investors will start buying the dip as digital assets become “undervalued,” said van de Poppe.

Crypto intelligence firm Nansen also estimated a 70% probability that the market may bottom by June, depending on how the tariff negotiations evolve.

Magazine: BTC’s ‘reasonable’ $180K target, NFTs plunge in 2024, and more: Hodler’s Digest Jan 12–18

Key takeaways

Render Network connects GPU owners with creators, allowing users to rent idle graphics power for AI training, 3D rendering and crypto-related projects.

The RNDR token powers the ecosystem, enabling fast, transparent and decentralized transactions between creators and node operators.

Decentralized rendering is more accessible and cost-effective than traditional centralized GPU services, solving issues such as pricing, scalability and vendor lock-in.

Proof-of-render ensures verified outputs, rewarding only completed, validated tasks while maintaining blockchain-level trust and transparency.

The hunger for powerful graphics processing units (GPUs) has skyrocketed. Whether it’s training complex AI models or rendering high-fidelity 3D graphics, the demand often outstrips supply.

Traditional centralized GPU services, while effective, can be costly and sometimes inaccessible to smaller developers or artists. This is where the Render Network steps in, offering a decentralized approach to GPU rendering.

By connecting individuals who have idle GPU power with those who need it, Render Network creates a collaborative ecosystem that benefits both parties. This not only democratizes access to high-performance computing but also introduces a crypto-economic model, utilizing its native RNDR token to facilitate transactions.

In the sections that follow, you’ll learn how Render Network is contributing to the evolution of AI development and 3D rendering through decentralization and blockchain technology.

What is Render Network?

At its core, Render Network is like an Airbnb for GPU power. If you’ve got a powerful graphics card sitting idle, you can rent it out. And if you’re someone building an AI model or rendering a complex 3D scene but don’t have enough GPU muscle, you can tap into that unused power — on demand.

Here’s how it works:

Creators

These are the people who need serious computing power — think AI researchers training models, 3D artists rendering animations or developers working on visually demanding projects. Instead of buying expensive hardware or paying top dollar for centralized cloud services, they can just hop on Render Network and get access to what they need when they need it.

Node operators

On the flip side, there are folks who have GPUs collecting dust (or at least not being fully used). Maybe it’s a gaming rig that’s idle during work hours or a small mining setup looking for a better use case. These operators can plug into Render Network, offer up their GPU power, and earn crypto — specifically RNDR tokens — for their trouble.

RNDR token

The RNDR token (RNDR) is the fuel that keeps this whole ecosystem running. It’s the currency used to pay for jobs on the network. Creators pay in RNDR; operators earn in RNDR. Everything happens transparently onchain, and the token system helps keep things fair and efficient.

In short: Creators get access to affordable, decentralized computing power; node operators get rewarded for sharing their resources; and RNDR tokens make it all tick. It’s a win-win setup that’s especially useful in AI and crypto-heavy workflows.

Did you know? Render Network employs blockchain technology to ensure that every transaction and rendering task is securely recorded, promoting transparency and trust among users.

The role of decentralization in GPU rendering

If you’ve ever tried renting GPU power from a big cloud provider, you know it can get expensive fast. And even then, you’re often competing with major corporations for access to the best hardware. The whole system works, sure, but it’s not exactly built with flexibility or accessibility in mind.

That’s where decentralization comes in. Render Network flips the script by spreading the workload across a global network of independent GPU owners. Instead of relying on a single provider, you’re tapping into thousands of available machines — from gaming rigs to pro-grade render farms — that might otherwise sit idle.

What’s the problem with centralized GPU rendering?

Centralized services come with a few key headaches:

It’s pricey: Renting powerful GPUs from the likes of Amazon Web Services or Google Cloud can eat through your budget quickly, especially if you’re running long jobs like training an AI model.

Scalability is limited: If you suddenly need more power, scaling up isn’t always smooth or instant. You’re stuck waiting in line — or paying more for priority access.

Access isn’t equal: Big corporations tend to hoard the best GPU availability, which makes it harder for smaller teams or indie creators to get what they need when they need it.

Vendor lock-in is real: Once you build your pipeline around one provider, switching later can be a pain (and expensive).

Why decentralization makes more sense

Now, here’s what a decentralized network like Render offers instead:

Lower costs: Because you’re tapping into existing resources that would otherwise be unused, pricing tends to be way more affordable.

Flexible scaling: Need more power? The network can grow with you — just pull in more nodes.

Equal access: There’s no gatekeeping. Anyone can request GPU resources, and anyone can provide them. It’s a much more level playing field.

Earn while you sleep: If you’ve got a powerful GPU, you can make it work for you by sharing it on the network when you’re not using it.

All in all, decentralized GPU rendering is quickly becoming the practical choice for AI builders, 3D artists and crypto-native developers who want more control over their tools and budget.

The crypto economy within Render Network

As you briefly explored, at the heart of Render Network’s decentralized rendering platform is its native cryptocurrency, the RNDR token. Let’s dive deeper. 

RNDR token mechanics

The RNDR token serves as the primary medium of exchange within the Render Network. Creators use RNDR tokens to pay for rendering services, while node operators earn these tokens by providing their GPU power to process rendering tasks. This system creates a self-sustaining economy where computational resources are efficiently allocated and fairly compensated. 

Additionally, a small percentage of RNDR tokens, ranging from 0.5% to 5%, is charged on every transaction to support the ongoing development and maintenance of the network.

Earning RNDR tokens

Once onboarded, node operators can connect their GPUs to the network and start accepting rendering jobs. After successfully completing and submitting a rendering task, the work undergoes verification to ensure quality standards are met. Upon approval, the corresponding RNDR tokens are transferred to the node operator’s digital wallet as compensation for their contribution.

Spending RNDR tokens

Creators looking to access rendering services can acquire RNDR tokens through various cryptocurrency exchanges. Once they have the tokens, they can submit their rendering projects to the network. The system calculates the required RNDR tokens based on the project’s complexity and resource demands. After the rendering is completed and the output meets the creator’s expectations, the RNDR tokens are released from escrow and transferred to the node operators who processed the job.

This token-based economy not only streamlines the transaction process within the Render Network but also fosters a collaborative environment where both creators and node operators benefit from the decentralized exchange of rendering services.

Did you know? Render Network utilizes a unique proof-of-render mechanism, which validates completed rendering tasks before compensating node operators. This system mirrors blockchain’s transaction validation processes, ensuring that only verified work is rewarded.

Getting started with Render Network

Here’s how to get started with Render Network.

For creators

Setting up an account and submitting rendering tasks require the following:

Obtain an OctaneRender license: Ensure you have an active OctaneRender license or subscription, which can be purchased from OTOY.

Access the Creator Portal: With your OctaneRender credentials, log in to the Creator Portal.

Prepare your project: Export your project as an ORBX file using OctaneRender. This format encapsulates all necessary assets and settings for rendering.

Submit your job: Upload the ORBX file to the Creator Portal, configure your rendering parameters (such as resolution and sample size), and choose a service tier that fits your needs.

Monitor and retrieve results: Once submitted, you can monitor the progress of your rendering tasks through the portal. Upon completion, download your rendered assets directly from the platform.

For node operators

Registering GPUs on the network requires:

Express interest: Complete the Render Network Interest Form to join the onboarding queue.

Await onboarding instructions: Once a slot becomes available, the Render Network team will provide further instructions for setting up your node.

By following these steps and best practices, both creators and node operators can effectively engage with the Render Network, leveraging its decentralized infrastructure for efficient rendering solutions.

A bright future for Render Network?

Render Network is quickly becoming a go-to solution for anyone needing serious GPU power — especially in AI and crypto. Decentralizing access to high-performance computing makes rendering and model training faster, cheaper and way more accessible.

What’s exciting is where it’s headed. The network is expanding to support more advanced AI workflows and exploring deeper integration with other blockchain ecosystems. That means more tools, more flexibility and even broader use cases — whether you’re building with AI, working in 3D or developing onchain applications.

At the end of the day, Render Network is creating a new kind of infrastructure where creators and GPU owners can work together, earn and scale. Whether you’re here to build or contribute, it could be a space worth jumping into.

Bitcoin (BTC) is turning back the clock this week as tariff mayhem drags BTC price action toward 2021.

Bitcoin is giving up bull market support lines left and right as a new “death cross” completes on the BTC/USD daily chart.

CPI week is firmly overshadowed by US trade tariffs and their increasingly global impact on stock markets.

Both crypto and TradFi market participants are drawing comparisons to “Black Monday” 1987 and the COVID-19 cross-market crash.

Bitcoin’s speculative investor base is firmly out of pocket and likely increasingly tempted to panic sell.

Sentiment everywhere is nonexistent, with the TradFi Fear & Greed Index recording its lowest score in history.

BTC price “death cross” brings 2021 highs into play

Bitcoin risks falling below its old all-time highs from March 2024 next, Data from Cointelegraph Markets Pro and TradingView shows.

BTC/USD 1-hour chart. Source: Cointelegraph/TradingView

After slipping below $75,000 for the first time since November, BTC/USD is rapidly reawakening long-forgotten bull market support lines. These include $69,000, a level that first appeared in 2021.

The dive, which came as a copycat move several days after stock markets began to suffer major losses, caught many by surprise.

Is our uncorrelated hedge in the room right now?

— Charles Edwards (@caprioleio) April 6, 2025

“This is $ BTC’s last chance to maintain its macro uptrend structure,” analyst Kevin Svenson summarized in a warning on X.

BTC/USD 1-day chart. Source: Kevin Svenson/X

Among the trend lines now lost as support is the 50-week exponential moving average (EMA) at around $77,000.

In an X thread on the coming week, trader CrypNuevo described price violating that level as the “only short triggerr I’ll be paying attention to.”

“If we drop below support and get back above it, then I’ll consider this as a deviation and that will be my long trigger fo a push up back to $87k,” he wrote.

BTC/USDT 1-week chart with 50EMA. Source: CrypNuevo/X

Trading resource Material Indicators flagged a telltale “death cross” on daily timeframes. This typical bearish signal involves the 50-day simple moving average (SMA) crossing below its 200-day equivalent.

“The momentum carrying through that Death Cross, puts BTC at a critical macro support test,” it told X followers. 

“Stay tuned…”

BTC/USD 1-day chart with 50, 200 SMA. Source: Cointelegraph/TradingView

CPI week meets emergency rate cuts

Like last week, US trade tariffs are the major talking point across financial markets worldwide.

The impact of measures announced last week continues to be felt, as downside momentum on risk assets now becomes fueled by the prospect of more tariffs set for release on April 9.

Speaking to mainstream media over the weekend, Commerce Secretary Howard Lutnick confirmed that the US government would go ahead with the measures without delay.

“The tariffs are coming,” he told CBS News.

With sentiment diving and panic among market participants from trading desks to hedge funds, little attention is paid to the week’s other potential volatility catalysts.

These will come in the form of US inflation data, itself a key topic as tariffs risk causing unexpected price growth.

The March prints of the Consumer Price Index (CPI) and Producer Price Index (PPI) are due on April 10 and 11, respectively.

Previously, Jerome Powell, chair of the Federal Reserve, said that while tariffs would have a palpable effect on the US inflation battle, it would be difficult to assess this accurately in advance.

“As the new policies and their likely economic effects become clear, we will have a better sense of the implications for the economy and for monetary policy,” he subsequently said during a speech last week.

Fed target rate probability comparison for May FOMC meeting. Source: CME Group

Market expectations of the Fed easing policy to compensate for the tariffs are clearly reflected in interest rate forecasts.

The latest data from CME Group’s FedWatch Tool now shows that consensus favors a 0.25% rate cut at the Fed’s May meeting — sooner than the June deadline assumed until this weekend.

In informal circles, including social media and prediction platforms such as Polymarket, bets of an “emergency” rate cut coming sooner are rising rapidly.

“The Federal Reserve may have to make an emergency rate cut soon,” Professional Capital Management founder and CEO Anthony Pompliano predicted at the weekend. 

“Inflation has fallen to the lowest levels since 2020. If this continues, it will be a BIG problem.”

Odds for 2025 Fed rate cut as of April 7 (screenshot). Source: Polymarket

“Black Monday” 1987 or COVID-19 repeat?

In the short term, the “effects” of tariffs are feared to include a marketwide crash similar to “Black Monday” in 1987. 

As Cointelegraph reported, market responses to the first round of reciprocal tariffs laid the foundations for turmoil at the upcoming Wall Street open.

A 10% dip in two consecutive days has only happened for the fourth time in history.October 1987.October 2008.March 2020.April 2025.In 1987 & 2020, it marked the bottom.In 2008, it took one more month to mark the bottom.

— Michaël van de Poppe (@CryptoMichNL) April 6, 2025

For trader, analyst and entrepreneur Michaël van de Poppe, crypto’s Black Monday moment is already here.

“I think we’ll see a rollercoaster 1-2 weeks in which we’re having a test of the lows for Bitcoin. It can go as deep as $70K from here,” he warned X followers on April 7.

Van de Poppe saw an emergency Fed rate cut as the only logical escape path for stemming the risk-asset bleed.

BTC/USDT 1-day chart with RSI data. Source: Michaël van de Poppe/X

Trading resource The Kobeissi Letter pointed to heavy losses in both Chinese and Japanese stocks during the week’s first Asia trading session.

“We are seeing the market’s first circuit breakers since March 2020,” it reported.

Kobeissi described market sentiment as “polarized,” drawing multiple comparisons to the COVID-19 cross-market crash in March 2020 and beyond.

“This is by far the most panic we have seen in the market since March 2020. In fact, we may be nearing investor panic levels ABOVE March 2020,” it added. 

“It’s currently a widespread rush to the exit for investors.”Bitcoin’s new hodler losses multiply

On Bitcoin, the investor cohort likely first to capitulate are short-term holders (STHs), the market’s more speculative entities with a buy-in date within the last six months.

As Cointelegraph reported, these investors are highly sensitive to BTC price volatility, and that their panic selling creates a vicious circle for the market.

Data from onchain analytics platform CryptoQuant now shows that the STH cohort is falling increasingly into the red.

The Spent Output Profit Ratio (SOPR) metric, which tracks STH coins moving in profit or loss, is currently below breakeven.

“When STH-SOPR falls below 1.0, it reflects that short-term investors are realizing losses — a classic signal of capitulation,” CryptoQuant contributor Yonsei Dent noted in one of its “Quicktake” blog posts.

“Looking back at 2024, major price corrections were accompanied by sharp drops in STH-SOPR, often reaching or falling below the -2 standard deviation band. These moments — notably in May, July, and August — aligned with periods of panic selling among short-term market participants.”

Bitcoin STH-SOPR chart. Source: CryptoQuant

Below $80,000, BTC/USD is now comfortably under the aggregate cost basis for STH investors, CryptoQuant confirms.

Bitcoin’s total aggregate cost basis, which includes long-term holders, currently sits at $43,000.

Bitcoin STH cost bases. Source: CryptoQuant

Sentiment eclipses bearish records

In a sobering yet arguably bizarre move, the extent of bearish sentiment on traditional markets, as measured by the Fear & Greed Index, has fallen to extremes.

Related: Bitcoin crash risk to $70K in 10 days increasing — Analyst says it’s BTC’s ‘practical bottom’

The latest data from the Index, which uses a basket of factors to compute the market mood, gives a reading of just 4/100.

“It’s never been this low: not in COVID, not after FTX collapse,” crypto commentator Atlas noted.

Fear & Greed Index (screenshot). Source: CNN

Crypto continues to weather the storm somewhat better, with the Crypto Fear & Greed Index at 23/100 on April 7.

Crypto Fear & Greed Index (screenshot). Source: Alternative.me

Beyond the panic, some voices are cautiously hinting that now is an ideal moment to “buy the dip,” whether on stocks or crypto.

“This doesn’t necessarily mean the absolute bottom is in, but is generally at least a local opportunity,” Charles Edwards, the founder of quantitative Bitcoin and digital asset fund Capriole Investments, argued in an X thread.

Edwards tallied up both bullish and bearish arguments, and concluded that much risk remained, especially to Bitcoin’s bull market.

“To be fair Bitcoin did very well last week, but has played catch up (to the downside) over the weekend. Pending some large unforeseen news, it’s going to be hard for Bitcoin to fight a correlation=1 event across risk assets, we saw something similar in early 2020,” he commented. 

“That said, there is historically significant relative strength here to note. We can likely expect Bitcoin to rally the hardest off the bottom, whereever and whenever that is.”

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

Opinion by: Ismael Hishon-Rezaizadeh, co-founder and CEO of Lagrange

Trade wars and proxy wars are underway in the current geopolitical power realignment, but the next phase won’t be fought with tariffs or drones. It will be decided by who leads in cryptography.

Just as past industrial and technological revolutions in its private sector yielded the US an edge in global power, the ability to secure and verify information through cryptographic breakthroughs, especially in zero-knowledge (ZK) proofs, will determine the balance of power in the digital age.

The US risks falling behind. While China and other nations invest aggressively in technological advancements, America lacks a national strategy to maintain leadership in this critical domain. It’s time to recognize cryptography as a foundational technological asset and a key to securing the country’s economic and national security future.

From industrial might

During the world wars of the previous century, the US maintained a dominant global position through industrial strength. The country supplied around 75% of the oil used by the Allies in WWI and around 85% of their oil in WWII. The US also manufactured approximately two-thirds of all military equipment used by the Allies in the latter, playing a pivotal role in the war’s outcome.

Industrial strength was not merely an asset. It was a strategic advantage in global conflicts. American influence will continue to be tied to the private sector’s innovations, especially as we move into more technologically advanced forms of warfare.

To software superiority

Superiority in software has become the most efficient way to sustain US leadership worldwide. Stuxnet offers an example in recent history. In 2010, the software-based operation led by the US and Israeli governments was able to remotely crash Iran’s nuclear development program without deploying a single soldier.

Recent: ‘National emergency’ as Trump’s tariffs dent crypto prices

Today’s private companies have followed suit and developed new software technologies for national defense purposes that have become essential in maintaining the US’s competitive edge. Defense contractors have enhanced US global influence with their contributions to AI, surveillance and advanced analytics for national security purposes. 

The historical trend is set to continue as cryptography starts to play an increasingly important role in defense technology.

Cryptography and zero-knowledge (ZK) proofs

The use cases for cryptography, specifically ZK-proofs, extend far beyond the protection of financial transactions. Consider a shift in focus from the AI race for a bit. In that case, ZK-proofs become critical for more immediately tangible purposes, such as securing the country’s digital infrastructure.

The US Department of Advanced Research Projects Agency and the Department of Defense have already acknowledged the strategic importance of ZK-proofs for defense and national security and developed the Securing Information for Encrypted Verification and Evaluation (SIEVE) program.

NASA and the European Space Agency are exploring blockchain and ZK-proofs to ensure the authenticity of satellite communication commands and prevent cyberattacks.

Private sector contributions are embedding secure cryptographic elements into drones to prevent hacking and ensure safe defense and critical infrastructure operations. At the same time, cybersecurity firms are leveraging blockchain to create secure digital identity ecosystems. 

The private sector is currently at the forefront of innovation in this field. In 2019, there was a boom in research papers focused on ZK-proof technology driven by private efforts to find better solutions in blockchain scalability via ZK-rollups. 

New and innovative approaches to ZK-proofs emerged, with most of the research being led and funded by crypto companies in the private sector. These are all production-ready, future-proof technologies that are finding their way into civilian applications but could be applied to military purposes just as quickly.

Global leadership through innovation

America’s dynamism in the digital age, particularly in cryptography and blockchain technologies, will define its future role as a global power. The US must make bold, strategic investments in private-sector and public-sector research and development for ZK-proofs to maintain its leadership in cryptographic technologies, which are now indispensable to national security, defense and economic stability. 

With a pro-crypto administration and a supportive Congress, the time has come to move beyond merely regulating crypto as an investment class. There must be active cultivation and support for innovation in cryptography and emerging technologies like zero-knowledge proofs. The centuries-old relationship between the private sector and the government must continue to defend national interests. 

This is America’s moment to build a new wave of industrial and technological dominance. It’s time to seize this opportunity and ensure the next century of global leadership is powered by American innovation.Opinion by: Ismael Hishon-Rezaizadeh, co-founder and CEO of Lagrange.

This article is for general information purposes and is not intended to be and should not be taken as legal or investment advice. The views, thoughts, and opinions expressed here are the author’s alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.

A crypto user has gone very long on Solana, staking a very small portion of the token for the next 3,000 years, according to blockchain analytics firm Arkham Intelligence.

The unknown user staked $0.05 Solana (SOL) in 2023, and it will unlock in the year 5138, Arkham said in an April 5 post to X.

Speaking to Cointelegraph, Vincent Liu, chief investment officer at Kronos Research, said the move was likely a symbolic act reflecting a strong belief and conviction in Solana’s long-term ecosystem.

Source: Arkham Intelligence

“Legacy staking is more than locking assets it’s a mindset. The real edge in crypto isn’t in chasing short-term hype, but in holding long-term conviction assets through cycles,” he said.

Adding that: “this kind of thinking builds not just portfolios, but long term legacies.”

SOL is currently trading for $102, according to CoinMarketCap. A January report from asset manager Bitwise predicts the token could be worth between $2,300 and over $6,000 by 2030.

It’s impossible to know what the staked SOL will be worth by the time it’s unlocked in a few thousand years, but Liu says it would likely be a significant sum.

“If SOL appreciates just 2–5% annually, the compounding over 3,000 years becomes exponential. In any market condition, long-term compounding remains one of the most powerful financial forces,” he said.

Staking Solana for over 3 millennia

To put it into perspective, 5 cents compounded annually at a 3% annual interest rate would already result in over $486 undecillion (486 followed by 36 zeros) after 3,115 years. However, the Solana sum would likely be much higher, given staking rewards are paid out every two to three days and compounded.

Users on X are speculating that the stake could be an attempt at creating generational wealth, or a random stunt with no real long-term plan.

Source: Arkham Intelligence

Kadan Stadelmann, chief technology officer at blockchain platform Komodo, told Cointelegraph he thinks the “3,000-year nickel play on SOL is a meme trade” that will one day be stamped on the SOL blockchain.

Related: Solana TVL hits new high in SOL terms, DEX volumes show strength — Will SOL price react?

“What will 3,000 years from now look like? Will humans still be around? Will the Solana blockchain? Such a long time horizon makes one ponder one’s place in the scheme of things,” Stadelmann said.  

He speculates people might even seek to outdo it by “making a 5,000-year play.”

At the moment, depending on the platform and validator choice, Solana can offer between 5% to over 8% in staking rewards. Meanwhile, Cardano (ADA) can start at around 2%, and Ether (ETH) staking rewards are usually between 2% and 7%.

Four Solana whales recently profited over $200 million in a staking play that began in April 2021, when they staked 1.79 million Solana, worth $37.7 million at the time. 

A similar unlock is expected in 2028. 

Magazine: Bitcoin heading to $70K soon? Crypto baller funds SpaceX flight: Hodler’s Digest, March 30 – April 5

An Ether investor who had a large position on decentralized finance (DeFi) lending platform Sky has been liquidated to the tune of more than $100 million as the price of Ether crashed. 

The Ether (ETH) whale lost 67,570 ETH worth around $106 million when the asset crashed by around 14% on April 6, liquidating his collateralized debt position on Sky, according to Maker Vaults explorer DeFi Explore, and as observed by Lookonchain.

The Sky lending protocol, which rebranded from Maker in August, is used by DeFi participants to create collateralized debt positions by providing crypto, ETH in this case, to borrow the platform’s stablecoin, DAI (DAI).

The system uses an overcollateralization ratio, typically 150% or higher, meaning that users need to deposit at least $150 worth of ETH to borrow 100 DAI. 

The protocol autonomously monitors the value of ETH collateral relative to the borrowed DAI, and if the ETH value falls and the collateral ratio drops below the minimum requirement, the position becomes eligible for liquidation.

This whale’s liquidation occurred when the ratio fell to 144% as the price of ETH plummeted. 

ETH whale liquidations. Source: DeFi Explore

Meanwhile, Spot On Chain reported that another whale that supplied 56,995 wrapped ETH, worth around $91 million, to borrow DAI was on the verge of liquidation. 

In a liquidation event, Sky seizes the ETH collateral, which is auctioned off to pay back the borrowed DAI plus fees. Any remaining collateral after the debt is paid is returned to the user. 

Ethereum price at bear market lows

ETH prices have crashed a whopping 14.5% over the past 24 hours, falling to $1,547 at the time of writing as the wider crypto market melts down in reaction to US President Donald Trump’s tariff-induced market sell-off. 

The last time ETH traded this low was in October 2023, when crypto was still deep in bear market territory, almost a year after the collapse of the FTX exchange. 

ETH remains down 68% from its all-time high in 2021, and further losses are likely to see more DeFi users liquidated unless they can provide more collateral. 

Related: Bitcoin price drops below $80K as stocks face 1987 Black Monday rerun

According to CoinGlass, 320,000 traders have been liquidated over the past 24 hours to the tune of almost $1 billion dollars. The majority of liquidations over the past four hours have been ETH positions, it revealed.

Magazine: Bitcoin heading to $70K soon? Crypto baller funds SpaceX flight: Hodler’s Digest

An Ether investor who had a large position on decentralized finance (DeFi) lending platform Sky has been liquidated to the tune of more than $100 million as the price of Ether crashed. 

The Ether (ETH) whale lost 67,570 ETH worth around $106 million when the asset crashed by around 14% on April 6, liquidating his collateralized debt position on Sky, according to Maker Vaults explorer DeFi Explore, and as observed by Lookonchain.

The Sky lending protocol, which rebranded from Maker in August, is used by DeFi participants to create collateralized debt positions by providing crypto, ETH in this case, to borrow the platform’s stablecoin, DAI (DAI).

The system uses an overcollateralization ratio, typically 150% or higher, meaning that users need to deposit at least $150 worth of ETH to borrow 100 DAI. 

The protocol autonomously monitors the value of ETH collateral relative to the borrowed DAI, and if the ETH value falls and the collateral ratio drops below the minimum requirement, the position becomes eligible for liquidation.

This whale’s liquidation occurred when the ratio fell to 144% as the price of ETH plummeted. 

ETH whale liquidations. Source: DeFi Explore

Meanwhile, Spot On Chain reported that another whale that supplied 56,995 wrapped ETH, worth around $91 million, to borrow DAI was on the verge of liquidation. 

In a liquidation event, Sky seizes the ETH collateral, which is auctioned off to pay back the borrowed DAI plus fees. Any remaining collateral after the debt is paid is returned to the user. 

Ethereum price at bear market lows

ETH prices have crashed a whopping 14.5% over the past 24 hours, falling to $1,547 at the time of writing as the wider crypto market melts down in reaction to US President Donald Trump’s tariff-induced market sell-off. 

The last time ETH traded this low was in October 2023, when crypto was still deep in bear market territory, almost a year after the collapse of the FTX exchange. 

ETH remains down 68% from its all-time high in 2021, and further losses are likely to see more DeFi users liquidated unless they can provide more collateral. 

Related: Bitcoin price drops below $80K as stocks face 1987 Black Monday rerun

According to CoinGlass, 320,000 traders have been liquidated over the past 24 hours to the tune of almost $1 billion dollars. The majority of liquidations over the past four hours have been ETH positions, it revealed.

Magazine: Bitcoin heading to $70K soon? Crypto baller funds SpaceX flight: Hodler’s Digest

A defendant in a New York appeals court has been slammed by a judge for using an artificial intelligence avatar to represent himself in a recent case. 

A New York appeals court faced an unusual situation in late March when Jerome Dewald, representing himself in an employment dispute, submitted an AI-generated avatar to present his legal arguments via video, a livestream of the hearing shows. 

It’s the latest example of artificial intelligence tools trickling their way into courtrooms. 

Within seconds of the video starting, Justice Sallie Manzanet-Daniels called for it to stop, asking whether the avatar was counsel for the case. 

“I generated that,” 74-year-old Dewald responded, adding, “That is not a real person.”

The judge appeared displeased, retorting, “It would have been nice to know that when you made your application,” stating that the defendant had previously appeared before the court and been able to testify verbally in the past. 

“I don’t appreciate being misled,” the judge added. 

She asked the defendant if he was suffering from an ailment that prevented him from articulating before adding, “You are not going to use this courtroom as a launch for your business,” and then yelling, “Shut that off,” pointing to the video screen. 

Appellate Division, First Department Stream. Source: YouTube

Dewald later apologized, explaining he thought the AI avatar would deliver his arguments more eloquently than he could.

Speaking to The Associated Press, Dewald said he applied to the court for permission to play a prerecorded video, then used a San Francisco tech company to create the AI avatar. 

He originally tried to generate a digital replica of himself but was prevented by time constraints before the hearing. “The court was really upset about it,” Dewald conceded, adding, “They chewed me up pretty good.”

Related: Meta’s Llama 4 puts US back in lead to ‘win the AI race’ — David Sacks

AI entering the legal world

The incident highlights growing challenges as AI enters the legal world. 

In 2023, a New York lawyer was blasted for citing fake cases generated by ChatGPT in a legal brief as part of a lawsuit against a Columbian airline.

In March, Arizona’s Supreme Court began using two AI-generated avatars, similar to the one that Dewald used in New York, to summarize court rulings for the public.

In September, the US Federal Trade Commission took action against companies it claimed misled consumers using AI, including a firm that offered an AI lawyer.

Magazine: ‘Chernobyl’ needed to wake people to AI risks, Studio Ghibli memes: AI Eye

A defendant in a New York appeals court has been slammed by a judge for using an artificial intelligence avatar to represent himself in a recent case. 

A New York appeals court faced an unusual situation in late March when Jerome Dewald, representing himself in an employment dispute, submitted an AI-generated avatar to present his legal arguments via video, a livestream of the hearing shows. 

It’s the latest example of artificial intelligence tools trickling their way into courtrooms. 

Within seconds of the video starting, Justice Sallie Manzanet-Daniels called for it to stop, asking whether the avatar was counsel for the case. 

“I generated that,” 74-year-old Dewald responded, adding, “That is not a real person.”

The judge appeared displeased, retorting, “It would have been nice to know that when you made your application,” stating that the defendant had previously appeared before the court and been able to testify verbally in the past. 

“I don’t appreciate being misled,” the judge added. 

She asked the defendant if he was suffering from an ailment that prevented him from articulating before adding, “You are not going to use this courtroom as a launch for your business,” and then yelling, “Shut that off,” pointing to the video screen. 

Appellate Division, First Department Stream. Source: YouTube

Dewald later apologized, explaining he thought the AI avatar would deliver his arguments more eloquently than he could.

Speaking to The Associated Press, Dewald said he applied to the court for permission to play a prerecorded video, then used a San Francisco tech company to create the AI avatar. 

He originally tried to generate a digital replica of himself but was prevented by time constraints before the hearing. “The court was really upset about it,” Dewald conceded, adding, “They chewed me up pretty good.”

Related: Meta’s Llama 4 puts US back in lead to ‘win the AI race’ — David Sacks

AI entering the legal world

The incident highlights growing challenges as AI enters the legal world. 

In 2023, a New York lawyer was blasted for citing fake cases generated by ChatGPT in a legal brief as part of a lawsuit against a Columbian airline.

In March, Arizona’s Supreme Court began using two AI-generated avatars, similar to the one that Dewald used in New York, to summarize court rulings for the public.

In September, the US Federal Trade Commission took action against companies it claimed misled consumers using AI, including a firm that offered an AI lawyer.

Magazine: ‘Chernobyl’ needed to wake people to AI risks, Studio Ghibli memes: AI Eye

The Bitcoin network hashrate has topped 1 Zetahash per second (ZH/s) for the first time in Bitcoin’s 16-year history, according to several blockchain data sources.

Bitcoin’s hashrate crossed the milestone on April 5 at a peak of 1.025 ZH/s, according to mempool.space data, while BTC Frame data said it hit 1.02 ZH/s a day earlier.

Data from Coinwarz says that Bitcoin hashrate soared to as high as 1.1 ZH/s on April 4 at block height 890,915 — however, the same data indicates that Bitcoin first crossed 1 ZH/s on March 24.

Bitcoin’s hashrate has fallen back below 0.95 ZH/s on April 7 since reaching 1 ZH/s. Source: BTC Frame

Discrepancy in Bitcoin hashrate trackers 

The differences result from the varying approaches used to calculate hashrate — such as when block times and difficulty adjustments are measured, which Bitcoin nodes and miner pools are used to pull data from and more.

Bitcoin cypherpunk Jameson Lopp also previously pointed out that estimating Bitcoin’s hashrate with one “trailing block” as opposed to five can result in a difference of over 0.04 ZH/s.

“Viewing the raw Hashrate metric can be deceiving due to random variations in block times,” added Blockware Solutions head analyst Mitchell Askew, who pointed out that Bitcoin’s 30-day moving average hashrate is still around 0.845 ZH/s mark in a note to Cointelegraph.

Notching 1 ZH/s is a massive network achievement

Despite the discrepancies, the feat highlights the massive amount of computational power and increasing decentralization of the Bitcoin network, making it more secure than ever and significantly reducing the likelihood of a 51% attack.

The Bitcoin network’s reported rise to 1 ZH/s — equivalent to 1,000 Exahashes per second — marks a 1,000x increase since late January 2016, when Bitcoin first hit 1 EH/s for the first time. 

The second-largest proof-of-work crypto network, Litecoin, currently boasts a hashrate of 2.49 Petahashes per second according to Coinwarz — making it around 40,000 times less computationally powerful than Bitcoin.

Source: Pierre Rochard

Askew noted that the huge rise in hashrate has coincided with more commercial Bitcoin mining firms competing to solve Bitcoin blocks in recent years.

“Miners are doubling down: expanding sites and plugging in more efficient machines,” Askew said, adding that less efficient miners could soon be washed out unless Bitcoin’s (BTC) price rallies again in the coming months.

MARA Holdings is the largest Bitcoin miner with more than 50 EH/s of compute power, while the largest share of hashrate is channeled to Bitcoin mining pools Foundry USA Pool and AntPool, according to the Hashrate Index.

Related: Bitcoin price drops below $80K as stocks face 1987 Black Monday rerun

At least 24 publicly listed Bitcoin companies have machines set up to mine Bitcoin, according to CompaniesMarketCap.com. 

Among the other large miners contributing hashrate are Riot Platforms, Core Scientific, CleanSpark, Hut 8 Mining and TeraWulf.

Bitcoin’s hashrate soars as BTC plummets on recession fears

The new all-time high in Bitcoin hashrate came in the middle of a sharp market downturn — with Bitcoin (BTC) falling nearly 10% over the last four days to $78,750, while US stocks saw an estimated $6.6 trillion loss on April 3 and 4 — the largest two-day loss ever.

Much of the fall has been attributed to US President Donald Trump’s tariff plans, which many industry analysts say are sparking recession fears.

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