Starknet Unveils First Gaming App-Chain, Revolutionizing Ethereum Layer-3

Ethereum Layer-2 Starknet Welcomes First Gaming App-Chain

Starknet, a Layer-2 solution on Ethereum, has introduced its first application-chain, Nums, a sequential gaming platform. Built using the "SN Stack," a toolkit for creating Layer-3 blockchains, Nums allows players to sequence 20 generated numbers and earn $NUMS tokens. These tokens are issued via Starknet, which uses the Cairo programming language, making it easier to develop computationally complex applications. StarkWare, the developer behind Starknet, launched the SN Stack in January 2025, following similar initiatives by competitors like Arbitrum and Optimism. According to CoinDesk, Tarrence van As, CEO of Cartridge, the developer of Nums, highlighted Starknet's ability to support ambitious applications as a key reason for choosing this technology.

Source: CoinDesk (https://www.coindesk.com/tech/2025/02/24/ethereum-layer-2-starknet-gets-first-gaming-app-chain)

Ethereum Faces Market Turmoil Amid Tariff Concerns

Ethereum's price has plummeted by over 14% in 24 hours, reaching $2,330, as liquidations surged past $1.34 billion. According to TipRanks, Ethereum accounted for $294 million of these liquidations. Analysts warn of a potential 20% drop to $1,945 if bearish trends persist. The market downturn is exacerbated by U.S. President Donald Trump's announcement of 25% tariffs on Mexico and Canada, which has spooked investors. Additionally, a potential $340 million liquidation event on MakerDAO looms, threatening to trigger a cascading sell-off across decentralized finance (DeFi) platforms.

Source: TipRanks (https://www.tipranks.com/news/ethereum-is-in-freefall-as-trumps-tariffs-threaten-further-losses)

Ethereum Whale Activity Declines Amid Market Pressure

Ethereum's market cap has dropped below $300 billion for the first time since November 2024, as the cryptocurrency fell nearly 10% on February 25. BeInCrypto reports that the Relative Strength Index (RSI) indicates an oversold state, suggesting potential for a short-term rebound. However, the number of Ethereum whales—addresses holding at least 1,000 ETH—has decreased from 5,828 to 5,812, signaling cautious sentiment. Analysts also highlight a "death cross" pattern, which could push Ethereum's price below $2,200 if bearish momentum continues.

Source: BeInCrypto (https://beincrypto.com/ethereum-drops-as-whales-stop-accumulating/)

North Korea's Lazarus Group Linked to $1.46 Billion Ethereum Theft

The Lazarus Group, a North Korean-linked hacking collective, has been identified as the perpetrator of a $1.46 billion Ethereum theft from Bybit. According to CyberScoop, the group laundered $160 million within two days, showcasing unprecedented speed. Blockchain analytics firms have traced the stolen funds to known North Korean wallets. Bybit CEO Ben Zhou revealed that the hack occurred during a routine cold wallet transfer, resulting in the loss of 401,000 Ethereum tokens. Despite the breach, Bybit assured clients that its treasury can cover the stolen funds.

Source: CyberScoop (https://cyberscoop.com/bybit-lazarus-group-north-korea-ethereum/)

Crypto Market Faces Broad Declines Amid Economic Concerns

Bitcoin, Ethereum, and Dogecoin experienced significant losses, with Ethereum dropping 9.2% to $2,479.23. The Motley Fool attributes the decline to weaker consumer confidence and fears of a trade war due to new tariffs on imports from Canada and Mexico. The consumer confidence index fell from 105.3 in January to 98.3 in February, its largest drop since August 2021. Analysts warn that the speculative momentum driving crypto prices higher in recent months is fading, potentially leading to further declines.

Source: The Motley Fool (https://www.fool.com/investing/2025/02/25/why-bitcoin-ethereum-and-dogecoin-crashed-today/)

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