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Sonic, the first chain extension built on Solana, launched its Mobius mainnet today (February 27). The blockchain solution aims to extend Solana’s capabilities, enhance scalability, and provide a dedicated layer for high-volume decentralized applications (dApps). Mobius Goes Live According to a document shared with CryptoPotato, the Mobius mainnet will enable Sonic to serve as a seamless extension of Solana, allowing developers to easily migrate existing applications and benefit from the chain’s powerful features. Some of these include the use of SOL for gas fees and full interoperability with Solana’s accounts via an Interoperability API. In addition, Sonic is compatible with key ecosystem protocols like Metaplex, Pyth, and Hyperlane, offering developers a powerful set of tools. Mobius embodies the goal of creating a cohesive Solana ecosystem, aligning with the network’s evolving vision for 2025 and beyond. Leveraging the HyperGrid framework, Solana’s pioneering scaling technology, Sonic boosts customization and scalability while maintaining full compatibility with Solana’s mainnet. The launch of Mobius capitalizes on Sonic’s current momentum, including a $1 million Hackathon encouraging developers to build dApps on Sonic’s layer-2. By connecting EVM and SVM environments, the solution provides cross-chain projects with access to Solana’s liquidity and network benefits. It is worth mentioning that Sonic offers transaction fees that are 50% lower than Solana. It eliminates block space competition to ensure smoother performance for DeFi, GameFi, and social dApps. Last but not least, HyperGrid enables Ethereum Virtual Machine (EVM) developers to write applications in familiar languages, with execution and settlement occurring on Solana. ‘The Beginning of a New Era for Web3’ Speaking on the aforementioned initiative was Chris Zhu, co-founder and CEO of Sonic SVM. He claimed his entity has demonstrated “remarkable traction” during the testnet phase, with countless games and dApps deployed and over 8 million users onboarded. “The launch of Mobius Mainnet – named after the infinite continuity of the Möbius strip – marks the beginning of a new era for Web3 applications on the SVM. This milestone represents the collaborative effort of not just our team, but a cohort of partners across the Solana ecosystem – from infrastructure providers and dApp builders to the Solana Foundation and community leaders like Superteam. We’re incredibly excited to see these collective efforts come to life with Mobius, and we can’t wait to showcase the innovative projects emerging from our ecosystem,” he added. The post Sonic Introduces Its Mobius Mainnet to Serve as a Seamless Extension of Solana appeared first on CryptoPotato.

Bitcoin’s second-worst February on record is set to extend into a new week, with price burdened by “aggravating macro factors” and a technical correction. Bitcoin ( BTC ) was down 25% from its Jan. 20 all-time high of $108,786 as forward-facing inflation indicators incentivized a risk-off mood among investors, and spot exchange-traded funds logged continuous outflows on Wall Street. Although U.S. Core Personal Consumption Expenditures price index data matched analyst expectations—dropping to 2.6% from 2.9% year over year—BTC only recorded a modest uptick, climbing to $81,800. Previously, the most valuable cryptocurrency by market cap fell as low as $78,400, losing over 6% in 24 hours and hitting a three-month low. “It’s the first tangible correction since reaching its all-time high less than six weeks ago”, analysts at B2BINPAY told crypto.news via email. “The correction has mostly been technical, amplified by aggravating factors,” the analysts added, referring to Trump’s tariffs and sovereign trade wars. Consensus among BTC observers warned of more volatility ahead. B2BINPAY’s team echoed the sentiment, citing support and resistance bands from BTC technical analysis. Speaking from the technical standpoint, if we approach the 3M SMA support at $71,880 and wouldn’t bounce back toward 80K’s, the outlook would become less favorable, as there is a possibility of further decline. B2BINPAY analysts Standard Chartered shared a similar outlook, predicting that BTC may retest $69,000 by early March. IntoTheBlock data showed massive accumulation between $60,000 and $72,000, potentially forming a defense from larger declines. Over six million addresses acquired 2.64 million BTC in that range.

Large Ethereum (ETH) investors, often called whales, are now panic selling as the altcoin continues falling. Whales have dumped 440,000 ETH worth over $1 billion in the past week, raising concerns about a more bearish outlook. According to market analytics provider Lookonchain , whales recently intensified sales of Ethereum. These investors disposed of huge chunks of their ETH holdings after the altcoin’s price failed to hold crucial support levels. As reported by Lookonchain, one wallet address, “0x07Fe…A26D,” deposited 10,000 ETH valued at $23.44 million to Binance over the last two days. This move signals potential preparation for further sales. Another wallet, “0xc725…839d,” sold 8,074 ETH worth approximately $19.63 million at an average price of $2,431. According to crypto analyst Ali Martinez, whales have sold over 440,000 ETH collectively in the past week. This trend indicates a rising wave of panic selling among large holders amid heightened market volatility. Market analysts have shared mixed opinions regarding Ethereum’s recent price action. Some have advised investors not to sell their ETH holdings, considering the 26% decline on the monthly chart. Popular crypto analyst IncomeSharks pointed out that ETH is currently at the bottom of its range and within the accumulation zone. The analyst thinks this is a good moment to buy ETH before it returns to the top end of the range, above $4,000. ETH price was trading at $2,348 at press time, down 4.9% in the last 24 hours. Despite the decline, investors’ interest in the altcoin is high, as indicated by the 18% surge in trading volume. Ethereum’s price looks like it is reacting to the ongoing downtrend in the general market. Bitcoin (BTC), the leading digital asset, has failed to reclaim $100,000 in the past few weeks. Similarly, other top altcoins like Solana (SOL), XRP, Binance Coin (BNB), and TRON (TRX) are also in the red. The persistent price decline has even resulted in analysts forecasting that the altcoin season is ending. The recent Bybit exchange hack over the past weekend has also contributed to Ethereum’s recent turbulence. As our previous news brief mentioned, the notorious Lazarus Group siphoned 401,346 ETH from Bybit via the hack. However, Bybit has been reported to have fully recovered the lost Ethereum in its reserve within 48-72 hours of the incident. Meanwhile, outflows from the spot Ethereum Exchange-Traded Fund (ETF) have increased steadily in recent weeks. On Wednesday, the ETFs saw total outflows reaching $94.3 million, per data from Farside Investors. BlackRock’s ETHA recorded the highest outflow at $69.8 million. Crypto analyst Honey has predicted that Ethereum is ready for a dramatic price surge in the coming months. In our last update, the analyst said ETH could easily hit $3,500 in the short term and $6,000 in the long run.

Nansen joins Bifrost as a strategic validator partner Multi-chain middleware platform Bifrost announced via its official Medium blog that blockchain analytics firm Nansen has joined the Bifrost Network as a strategic validator partner, contributing to the network’s security and decentralization.

Anonymous swing trader accumulates $2.65M worth of $TRUMP four hours ago On-chain analyst @ai_9684xtpa reported via X that an anonymous swing trader spent 2.65 million USDC to purchase 227,597 TRUMP about four hours ago, with an average cost of $11.65 per TRUMP. Notably, the trader has been conducting swing trading on TRUMP since the memecoin's launch. To date, the trader has made a cumulative profit of $400,000 from TRUMP swing trading. At the time of writing, TRUMP is trading at $11.34, down 13.94% over the past day, according to CoinMarketCap.