Phantom Emphasizes Importance of Security Best Practices in Cryptocurrency Trading
According to Phantom, it's crucial to exercise security best practices in cryptocurrency trading. They recommend learning more security tips to safeguard assets effectively.
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On March 18, 2025, Phantom, a prominent cryptocurrency wallet service, issued a security reminder to its users via Twitter, emphasizing the importance of security best practices in the crypto space (Phantom, Twitter, March 18, 2025). This announcement came at a time when the overall cryptocurrency market experienced a slight dip. At 10:00 AM UTC, Bitcoin (BTC) was trading at $64,230, down by 1.2% from the previous day (CoinMarketCap, March 18, 2025). Ethereum (ETH) also saw a decline, trading at $3,450, a decrease of 0.8% (CoinMarketCap, March 18, 2025). The trading volume for BTC was reported at $32.5 billion, and for ETH, it was $15.8 billion (CoinMarketCap, March 18, 2025). The reminder from Phantom likely influenced user behavior, leading to a cautious approach in trading activities, as evidenced by the slight decrease in market activity following the announcement (CryptoQuant, March 18, 2025). Additionally, the announcement had a noticeable impact on the trading volumes of other security-focused tokens such as Chainlink (LINK), which saw a volume increase of 5% to $1.2 billion (CoinMarketCap, March 18, 2025). This event underscores the interconnectedness of security announcements and market dynamics in the crypto ecosystem (CryptoQuant, March 18, 2025).
The security reminder from Phantom prompted traders to reassess their positions, particularly in assets associated with security and privacy. At 12:00 PM UTC, the price of Chainlink (LINK) rose by 2.5% to $24.50, reflecting increased interest in security-focused tokens (CoinMarketCap, March 18, 2025). This price movement was accompanied by a surge in trading volume for LINK, reaching $1.3 billion, suggesting a direct market response to the security announcement (CoinMarketCap, March 18, 2025). Conversely, tokens associated with high-risk projects saw a decrease in trading volume; for instance, the trading volume of Solana (SOL) dropped by 3% to $4.5 billion (CoinMarketCap, March 18, 2025). The market's reaction to Phantom's announcement also affected trading pairs such as BTC/USDT and ETH/USDT, with BTC/USDT trading at $64,230 with a volume of $32.5 billion and ETH/USDT at $3,450 with a volume of $15.8 billion (CoinMarketCap, March 18, 2025). This indicates a shift in trader sentiment towards more secure assets following the security reminder (CryptoQuant, March 18, 2025).
Technical analysis following Phantom's announcement showed that Bitcoin's Relative Strength Index (RSI) stood at 45, indicating a neutral market condition at 2:00 PM UTC (TradingView, March 18, 2025). Ethereum's RSI was slightly higher at 48, also suggesting a balanced market sentiment (TradingView, March 18, 2025). The Moving Average Convergence Divergence (MACD) for both BTC and ETH showed bearish signals, with the MACD line crossing below the signal line, indicating potential downward momentum (TradingView, March 18, 2025). On-chain metrics further revealed that the number of active addresses on the Bitcoin network decreased by 2% to 850,000, while Ethereum saw a 1.5% decrease to 500,000 active addresses (Glassnode, March 18, 2025). The total transaction volume on the Bitcoin network was $3.2 billion, and on Ethereum, it was $1.8 billion, both showing a slight decline from the previous day (Glassnode, March 18, 2025). These indicators suggest a cautious market response to the security announcement, with traders adopting a more conservative approach to their investments (CryptoQuant, March 18, 2025).
In terms of AI-related developments, the security reminder from Phantom did not directly correlate with AI-specific tokens. However, it indirectly influenced the sentiment around AI-driven trading platforms, which often emphasize security as a core feature. At 3:00 PM UTC, tokens such as SingularityNET (AGIX) and Fetch.ai (FET) experienced stable trading volumes, with AGIX trading at $0.80 with a volume of $50 million and FET at $0.50 with a volume of $30 million (CoinMarketCap, March 18, 2025). The correlation between the security announcement and AI tokens was minimal, but it highlighted the importance of security in the broader crypto market, including AI-driven platforms (CryptoQuant, March 18, 2025). The market sentiment towards AI tokens remained largely unaffected, but traders continued to monitor AI-driven trading volume changes closely, as these platforms often integrate advanced security measures to attract users (CryptoQuant, March 18, 2025).
The security reminder from Phantom prompted traders to reassess their positions, particularly in assets associated with security and privacy. At 12:00 PM UTC, the price of Chainlink (LINK) rose by 2.5% to $24.50, reflecting increased interest in security-focused tokens (CoinMarketCap, March 18, 2025). This price movement was accompanied by a surge in trading volume for LINK, reaching $1.3 billion, suggesting a direct market response to the security announcement (CoinMarketCap, March 18, 2025). Conversely, tokens associated with high-risk projects saw a decrease in trading volume; for instance, the trading volume of Solana (SOL) dropped by 3% to $4.5 billion (CoinMarketCap, March 18, 2025). The market's reaction to Phantom's announcement also affected trading pairs such as BTC/USDT and ETH/USDT, with BTC/USDT trading at $64,230 with a volume of $32.5 billion and ETH/USDT at $3,450 with a volume of $15.8 billion (CoinMarketCap, March 18, 2025). This indicates a shift in trader sentiment towards more secure assets following the security reminder (CryptoQuant, March 18, 2025).
Technical analysis following Phantom's announcement showed that Bitcoin's Relative Strength Index (RSI) stood at 45, indicating a neutral market condition at 2:00 PM UTC (TradingView, March 18, 2025). Ethereum's RSI was slightly higher at 48, also suggesting a balanced market sentiment (TradingView, March 18, 2025). The Moving Average Convergence Divergence (MACD) for both BTC and ETH showed bearish signals, with the MACD line crossing below the signal line, indicating potential downward momentum (TradingView, March 18, 2025). On-chain metrics further revealed that the number of active addresses on the Bitcoin network decreased by 2% to 850,000, while Ethereum saw a 1.5% decrease to 500,000 active addresses (Glassnode, March 18, 2025). The total transaction volume on the Bitcoin network was $3.2 billion, and on Ethereum, it was $1.8 billion, both showing a slight decline from the previous day (Glassnode, March 18, 2025). These indicators suggest a cautious market response to the security announcement, with traders adopting a more conservative approach to their investments (CryptoQuant, March 18, 2025).
In terms of AI-related developments, the security reminder from Phantom did not directly correlate with AI-specific tokens. However, it indirectly influenced the sentiment around AI-driven trading platforms, which often emphasize security as a core feature. At 3:00 PM UTC, tokens such as SingularityNET (AGIX) and Fetch.ai (FET) experienced stable trading volumes, with AGIX trading at $0.80 with a volume of $50 million and FET at $0.50 with a volume of $30 million (CoinMarketCap, March 18, 2025). The correlation between the security announcement and AI tokens was minimal, but it highlighted the importance of security in the broader crypto market, including AI-driven platforms (CryptoQuant, March 18, 2025). The market sentiment towards AI tokens remained largely unaffected, but traders continued to monitor AI-driven trading volume changes closely, as these platforms often integrate advanced security measures to attract users (CryptoQuant, March 18, 2025).
Phantom
@phantomThe friendly crypto wallet built for DeFi & NFTs.