Ripple Offered to Buy Circle for $5 Billion, Bitcoin Facing Quantum Threat, Analyst Warns; XRP Rockets 5,438% in Abnormal Liquidations Imbalance in Just One Hour: Crypto News Digest by U.Today

U.Today - U.Today has prepared a summary of the top three important news over the last day of April, take a look!

Ripple offered to buy Circle for $5 billion; here’s what happened

According to the Wednesday Bloomberg report, Ripple made a massive acquisition offer to Circle, proposing to buy the USDC issuer for a sum in the $4-5 billion range. However, Circle, Ripple’s key competitor in the stablecoin sector, has rejected the offer, believing it undervalues the company. The offer arrived as Circle prepares for the launch of an initial public offering (IPO) in the U.S. in early April. Despite Circle’s rejection, Ripple remains interested in acquiring its main competitor, but the San Francisco-based giant is hesitant about making a new bid. Meanwhile, Circle remains focused on its IPO and chose not to comment on the acquisition rumors. In early April, Ripple announced its $1.25 billion purchase of prime brokerage Hidden Road, marking one of the largest deals in crypto history.

Bitcoin facing quantum threat, analyst warns

In a recent X post, Alex Thorn, head of research at Galaxy Digital (TSX:GLXY), shared his concerns regarding quantum computing. He believes that it poses a "bigger threat" than people realize, adding that the solutions available to fix it for Bitcoin may be inadequate. Thorn clarified that all cryptocurrencies that rely on public key cryptography will also be vulnerable to this kind of attack. "To be clear, the quantum attack to which Bitcoin is vulnerable is one that affects all types of public key cryptography. And all cryptos," he wrote. Additionally, Thorn warned that no one knows when the first quantum hack will happen, and "when it does it will already be too late," highlighting the national security implications of such an event. As reported by U.Today, quantum-related warnings reemerged following the release of Majorana 1, Microsoft’s cutting-edge chip that potentially represents a major breakthrough in the field.

XRP rockets 5,438% in abnormal liquidation imbalance in just hour

XRP’s imbalance in long vs. short liquidations has recently raised eyebrows among traders, as within just one hour, this metric has surged to a staggering 5,438%. According to CoinGlass, XRP saw a total of $7.64 million in liquidations, with $7.5 million coming from long positions and only $140,000 from shorts. The shift took place as XRP’s price dropped from around $2.20 to approximately $2.16, breaching key support levels and triggering a wave of leveraged long liquidations. While other cryptos experienced mixed liquidation ratios, XRP’s situation stands out, with over 98% of liquidation volume coming from one side. Overall, the crypto market faced over $374 million in liquidations within 24 hours. Bitcoin and Ethereum also saw substantial losses, with $33.68 million and $29.2 million in liquidations, respectively, largely echoing the same tilt that hit XRP.

This content was originally published on U.Today