The HashKey Group, an Asian firm offering digital asset services, has launched the HashKey Global exchange, after being granted a license in Bermuda to offer licensed digital asset trading services, it announced on Monday.
Bitcoin is still pushing a price recovery on its quest to return to the $70,000 price level. This has seen the cryptocurrency now trading above $69,000, up by 1.6% in the past 24 hours. This price fluctuation has occurred in the middle of increased accumulation activity from some whales and some short-term holders. Related Reading: Forget Q1 Slump: Solana Explodes Over 300% Amid DEX Boom Blockchain analytics platform Lookonchain has revealed an instance of whale activity on social media. An interesting transaction came from a whale wallet which recently woke up after 10 years of dormancy to transfer 246 BTC worth $16.73 million. Bitcoin Whale Wakes Up From 10-Year Slumber The Bitcoin blockchain is home to a vast number of early investors with large amounts of BTC that have remained dormant for many years. In fact, the re-ignition of dormant Bitcoin addresses has been sporadic for the past six months, particularly as the price of Bitcoin surged to new all-time highs and with most causing a stir and rising interest amongst Bitcoin investors. According to Lookonchain, a new Bitcoin whale address has been added to the roster of wallets raised from the dead. The whale address “1CLxmH” which held 1,701 BTC (worth $115 million at the time of writing) during its 10-year period of dormancy, recently woke up and transferred 246 BTC worth $16.73 million into another wallet. Interestingly, on-chain data shows the whale address received 4,272 BTC throughout 2013 at an average price of $29.39. A whale with 1,701 $BTC($115.42M) woke up after 10 years of dormancy and transferred 246 $BTC($16.73M) out 20 mins ago. The whale received 4,272 $BTC($125,541 at the time) in 2013 at an average price of only $29.39. Address: 1CLxmHRhoi9VpSj5QihqPEdbhLL8E1oeUZ pic.twitter.com/W45On1Q7vb — Lookonchain (@lookonchain) April 6, 2024 Incoming Sell Pressure? Reactivations of old dormant wallets are often driven by whales looking to sell all or some of their holdings. Massive selloffs like this often lead to a price slump and increase the selling pressure from short-term investors. However, the motive behind the reactivation of dormant addresses is impossible to predict and not all of them indicate profit-taking. Bitcoin market cap currently at $1.3 trillion. Chart: TradingView.com In this case, transaction data shows the assets were transferred into two new private wallets. 50 BTC were transferred into address “1PRREb,” while 195 BTC were transferred into address “bc1qga.” At the time of writing, address “1CLxmH” still holds 1,455 BTC worth $100.89 million. Related Reading: Bitcoin Dips, But Don’t Panic: ETFs See Three Days Of Bullish Inflow In the ongoing spirit of an accumulation from whales, Lookonchain outlined a new purchase from another whale address. This address, which has accumulated 1,308 BTC worth $89.75 million at an average price of $68,617 since March 6, purchased another 113.735 BTC worth $7.85 million from Binance less than 12 hours ago. With Bitcoin trading at $69,348, this wallet now holds $90.7 million worth of the cryptocurrency. Blockchain analytics platform Santiment noted this accumulation pattern by the whales, revealing wallets holding between 100 and 100,000 BTC have purchased $21.6 billion worth of the cryptocurrency in the last three months. Featured image from Pexels, chart from TradingView
Defunct crypto exchange FTX recently sold two-thirds of its Solana holdings for a massive discount, Bloomberg reported at the close of the week. FTX recently received a court order to sell its massive SOL holdings to repay its creditors. As one of the largest holders of the cryptocurrency, the news of the court order sparked […]
According to crypto analyst Ali Martinez, Polygon (MATIC) is poised for major gains amidst a wider correction in the past seven days. Polygon is currently down by 9.2% in the past seven days, but the analyst pointed out that MATIC is printing a textbook buy signal on the daily chart. In a recent analysis posted […]
Philippine investors are being warned by the Securities and Exchange Commission (SEC) about the dangers of using unregistered online investment platforms. The latest target is eToro, a popular multinational online crypto trading platform with over 33 million users worldwide. Related Reading: Forget Wall Street, Uniswap Is The New Trading King With $2 Trillion Crown eToro […]
The price of Near Protocol’s native token, NEAR, has been on an upward momentum recently, with a crypto analyst projecting further price increases and suggesting that the coin could see a surge to more than $10 soon. Related Reading: Solana Primed For Takeoff? Expert Analysis Points To Buying Opportunity Near Protocol Price Poised For $10 Surge Popular crypto trader and analyst, identified as Bluntz on X (formerly Twitter) has unveiled a major price prediction for NEAR. The analyst disclosed that the price of NEAR is exhibiting historical patterns indicative of a bullish rally, potentially surpassing $10. $near turbo sends here imo pic.twitter.com/4o28UEsfE1 — Bluntz (@Bluntz_Capital) April 3, 2024 Bluntz, a pseudonymous analyst known for his eerily accurate prediction of Bitcoin (BTC) in June 2018, forecasted that the price of BTC would hit a bottom out at $3,200 after reaching an all-time high of $20,000 at the time. True to his foresight, Bitcoin dropped to around the projected price target by December of the same year. Now, using technical analysis based on the Elliott Wave principle, Bluntz has shared a price chart displaying Near protocol’s potential rally to over $10. NEAR market cap currently at $7.4 billion. Chart: TradingView.com The Elliott Wave theory, developed by Ralph Nelson Elliott is a technical methodology that analyzes recurrent and long-term price patterns related to persistent changes in investor sentiment and psychology. This technical tool is used to predict the price movements of cryptocurrencies based on greed and fear. Bluntz provided two charts depicting Near Protocol’s price movements against Tether (USDT) and another against Bitcoin. In both charts, Near Protocol had undergone a sequence of price fluctuations, moving between green and red zones before exhibiting strong price fundamentals that could potentially propel its price above $10. The crypto analyst has pinpointed a projected timeline for this price surge around mid April, specifically before the 15th. Insights Into NEAR’s Recent Price Movements Over the past month, the price of Near Protocol has been on a steady upward trend, boasting an impressive 26% increase. Moreover, the cryptocurrency’s total market capitalization has risen by over 6%, accompanied by a 25% increase in its 24-hour trading volume. Related Reading: Trouble Ahead? Binance Coin Futures Market Under Pressure With Negative Funding Rates At the time of writing, Near Protocol is trading at $7.09, reflecting a significant increase of 5.89% in just one day, according to CoinMarketCap. These developments highlight the increasing appeal and demand for the popular token within the dynamic crypto space. Illia Polosukhin, co-founder of Near Protocol has also commended the NEAR team’s consistent efforts in maintaining the cryptocurrency’s steady growth and development over the past few months. Polosukhin noted that due to the team’s dedication, Near Protocol’s capacity has surged by 50%, ensuring a more effective network to serve users. Featured image from Pexels, chart from TradingView
In recent times, the increasing appeal of Bitcoin (BTC) among asset managers and traditional finance (TradFi) institutions has gained significant attention, particularly with the notable success of Bitcoin ETF products offered by industry leaders like BlackRock, Grayscale, and Fidelity. This success has prompted more Wall Street banking institutions to eagerly enter the newly approved ETF […]
Recently, renowned trader Peter Brandt voiced criticism directed squarely at Ethereum (ETH), the second-largest crypto by market capitalization, denouncing it as a “junk coin” in a blunt assessment. Ethereum Faces Criticism Celebrated for his insights into financial markets, Peter Brandt spared no punches as he castigated Ethereum, arguing that it lacks the essential characteristics required […]
The recent ratio between Bitcoin (BTC) and Ethereum (ETH) prices suggests a potential decline in risk appetite within the crypto market. The ratio has reached its highest level since April 2021, indicating a stronger demand for Bitcoin than its smaller rival, Ethereum. This development has led crypto asset trading firm QCP Capital to speculate that this shift in the ratio could be an early indication of a transition from “fear of missing out” (FOMO) to outright fear. Bitcoin And Ethereum Performance Regarding recent market trends, the second quarter of 2024 has begun with relatively subdued activity. Bitcoin’s price has dipped below the $70,000 mark and has remained range-bound between $65,000 and $68,000 for the past few days despite briefly touching the $70,000 mark on Monday. Related Reading: XRP To $20 And Ethereum To $20,000: Crypto Analyst Reveals When This Will Happen According to QCP’s analysis, the inflow of funds into the spot Bitcoin Exchange-Traded Fund (ETF) market has not been substantial enough to drive significant price movements in either direction. As a result, the company has observed that funding rates have stabilized, and the front end of the forward curve has declined from previous highs of 50% to less than 20% currently. Interestingly, while the front end of the forward curve has decreased, the back end remains elevated. This has led to interest in rolling spot-forward basis positions further out, potentially driven by the continued demand for long-dated Bitcoin calls extending into 2025. On the other hand, Ethereum’s performance has been relatively weak. QCP also notes that the ETHBTC ratio cross-tests a critical support level after breaking below 0.05. Notably, there has been sustained selling of Ethereum calls, resulting in lower volatility and downward pressure on the price. Ultimately, QCP finds that these developments are prompting speculation as to whether this could be an early sign of FOMO turning into fear, particularly about Ethereum’s role as a proxy for altcoins. While Bitcoin may find support from topside demand and ETF inflows, Ethereum’s performance and its impact on altcoins will be important factors to watch closely. Will BTC Experience A Double-Top? Renowned crypto analyst Crypto Con has raised an intriguing question about whether BTC is poised for a double top similar to the patterns observed in 2013 and 2021. Analyzing previous market cycles, Crypto Con highlights that more evident double tops, such as those witnessed in the first and third cycles of 2021, triggered significant initial surges on the Fisher Transform indicator. In contrast, the 2017 double-top formation showed a more subtle initial rise in June. Notably, all final cycle tops ended with a regular bearish divergence, where the price reached higher levels while the indicator declined, as seen in the chart below. Related Reading: Polygon Observes Buy Signal: Analyst Suggests MATIC Rebound To This Level Currently, Bitcoin is approaching levels similar to those seen in 2017, as seen in the lower part of the chart. Crypto Con suggests that if the Fisher Transform indicator can consolidate around these levels without spiking to the line seen in 2013 and 2021, it could indicate a higher likelihood of a single top formation, which is the analyst’s most likely outcome, for December 2024, marking the top of this cycle. Featured image from Shutterstock, chart from TradingView.com
Crypto analyst CrediBULL Crypto has laid out a bullish narrative for Ethereum (ETH) and XRP. He claimed that both tokens could rise to as high as $20,000 and $20, respectively. Additionally, he stipulated when this parabolic price surge is likely to happen. Ethereum Could Hit A Market Top Near $20,000 CrediBULL Crypto mentioned in an X (formerly Twitter) post that there is a chance that Ethereum could hit a market peak near $20,000. He further explained that ETH could attain this price level based on his belief that BTC can “realistically” see a 2x in this market cycle from its last high of $69,000 in the 2021 bull run. As such, altcoins like ETH will do “multiples of that.” Related Reading: Fantom Supply On Exchanges See Drastic Increase, A Cause For Alarm? Specifically, he foresees ETH doing a 3x to 4x of its prior all-time high (ATH) of $4,800, which puts the second largest crypto token by market cap in a price range between $15,000 and $20,000. Meanwhile, CrediBULL asserted that Ethereum will surely rise to $10,000 at the minimum. Following CrediBULL’s prediction, another X user questioned how possible it was for ETH to rise to a market cap of $2 trillion, stating that it seems “crazy.” However, the crypto analyst responded that ETH rising to such levels is a “blow off top, ” so the market cap will look “outrageous.” He jokingly added that there is a problem if the market caps don’t look outrageous. XRP Is Another Altcoin That Could Experience Exponential Growth In a different X post, CrediBULL also made a case for XRP, stating that XRP could also rise between $10 and $12 if ETH were to hit $10,000. He suggested that XRP wasn’t to be underrated despite its current underperformance, noting that XRP actually flipped ETH in terms of market cap at some point in the last cycle. Related Reading: Crypto Expert Releases List Of Top 10 Altcoins To Buy For Maximum Profit In The Bull Market Therefore, the crypto analyst added that anyone who thinks ETH hitting $10,000 is “realistic” should also believe that XRP rising to $10 is possible. In a subsequent X post, CrediBULL claimed that XRP could even rise to as high as $20 based on ETH hitting $10,000 at its current circulating supply. Again, he noted that XRP is very capable of attaining such price levels, seeing as it is a top 10 coin, which means that the market demand for it is evidently there. CrediBULL’s sentiment echoes that of Nick, the founder of Web3Alert, who previously predicted that XRP could rise to $10 since there were predictions that Bitcoin and Ethereum would rise to as high as $150,000 and $10,000, respectively. At the time of writing, ETH and XRP are trading at around $3,290 and $0.58, according to data from CoinMarketCap. XRP price at $0.57 | Source: XRPUSDT on Tradingview.com Featured image from Bitcoin Sistemi, chart from Tradingview.com
As the Federal Reserve maintains a cautious stance on interest rate cuts, Bitcoin’s emergence as a ‘digital gold’ has garnered increased investor attention, setting the stage for heightened adoption expectations, Coinbase said in its latest market research on April 5. Institutional Research Analyst David Han believes Bitcoin’s growing status as digital gold will attract new […]
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Bitcoin has continued to trade sideways since hitting a new all-time high (ATH) of $73,750. That has raised concerns that BTC’s bullish momentum in this bull run may be shortlived. However, crypto analyst Lark Davis has outlined reasons why BTC’s price will keep soaring till the remainder of the year. Why 2024 Is A Bullish […]
Prominent figures within the crypto community are raising alarms over what appears to be a new wave coordinated effort by US banks to systematically dissociate from businesses dealing in digital currencies. Operation Choke Point 2.0 which began last year, is a concerted government effort involving the Biden White House, several agencies, the Federal Reserve and […]
2024 has proven to be a lucrative year for the average investor, according to recent data unveiled by CoinLedger. The platform’s data reveals a notable surge in the average crypto portfolio, with gains totaling $2,804 thus far. This notable increase starkly contrasts with the modest average realized gains of less than $1,000 observed throughout 2023. […]
Morgan Stanley and UBS are actively competing to become the first major banks to offer their clients access to spot Bitcoin exchange-traded funds (ETFs), according to people familiar with the matter. Sources said that Morgan Stanley wants to be the first major bank to offer its clients full access to spot BTC ETFs and will […]
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US-based cryptocurrency exchange Coinbase has obtained a registration license in Canada, signaling its intention to expand internationally amid increasing regulatory scrutiny in the US market, led by the Securities and Exchange Commission’s (SEC) ongoing crackdown on the industry. The company announced that it has been registered as a restricted dealer in Ontario under the Canadian […]
Google has initiated legal proceedings against a cadre of individuals accused of executing a sophisticated crypto scam, as CNBC reports exclusively today. The lawsuit, lodged on Thursday in the Southern District of New York, targets Yunfeng Sun, also known as Alphonse Sun, and Hongnam Cheung, known alternately as Zhang Hongnim or Stanford Fischer, alongside their […]
The age-old debate over how best to store wealth reignites as Bitcoin and gold lock horns. Peter Brandt, a veteran financial trader, throws his weight behind Bitcoin, claiming it will dethrone gold as the long-term champion. Related Reading: Bitcoin Champion Max Keiser Blasts Argentinian President’s Crypto Stance Brandt cites a chart showcasing the leading cryptocurrency’s […]
Galaxy Digital’s venture arm is in the initial phases of spinning up a $100 million fund, joining other VCs who are rushing back into crypto.
Wormhole, a cross-chain communication protocol enabling the transfer of assets between blockchains, recently launched an airdrop campaign for its newly issued governance token, W. Early users were rewarded with 617 million W tokens, and the protocol also released a roadmap outlining its plans. Wormhole Protocol Unveils Roadmap According to the protocol’s roadmap, W aims to become a native multi-chain token, leveraging the advantages of both the Solana and Ethereum Virtual Machine (EVM) chains. Initially launched as a native SPL token on Solana, W will reportedly leverage Solana’s performance, offering increased performance, scalability, low transaction costs, and fast settlement times. Related Reading: Crypto Expert Encourages Investors To Buy The Dip As Bitcoin Price Falls To $64,000 After the Solana debut, W will be extended to all Wormhole-connected EVM chains using Wormhole Native Token Transfers (NTT). This framework allows W to continuously roll out across Solana, the Ethereum mainnet, and Layer 2 (L2s) without liquidity fragmentation. The open-source NTT framework allows projects to control token behavior on each chain, including token standards, metadata, ownership/upgradability, and custom features. Cross-Chain Governance System Wormhole also introduces a governance system where token holders on any supported chain can create, vote on, and implement governance proposals. This approach allows maximum participation in the Decentralized Autonomous Organization (DAO) by providing a frictionless user experience for token holders distributed across multiple chains. As announced, W holders can lock and delegate their tokens on Solana and EVM chains, allowing them to participate in governance decisions. The Wormhole DAO, composed of W token holders, will oversee the Solana, Ethereum mainnet, and EVM L2s governance system. Wormhole, developed by Jump Crypto, a division of Jump Trading Group, has been under development for several years. Despite encountering challenges, including a significant hack in February 2022 resulting in a loss of approximately $320 million, the protocol has continued to evolve. Furthermore, the recent listing of the W token on major exchanges such as Crypto.com and the future support planned by Coinbase on April 4 further validate its progress. W’s Debut On OpenBook The W token debuted on the Solana-based decentralized exchange (DEX) OpenBook at $1.66, with a market capitalization of $2.98 billion and a fully diluted value of $16.5 billion. However, the token’s market capitalization and fully diluted value have since fallen to $2.2 billion and $12.5 billion, respectively, according to updated data from CoinGecko. Trading volume for W has remarkably increased, reaching $555,937,593 in the last 24 hours, representing a staggering 25,732,359.60% surge. Related Reading: Fear Grips XRP Market As Liquidations Top $6 Million – Details Following the airdrop, some users openly shared their sell-offs of the W token on social media platforms, resulting in a 23% price drop. At the time of writing, the token is trading at $1.32. Featured image from Shutterstock, chart from TradingView.com
Despite a recent price dip in crypto, including Bitcoin, Raoul Pal, the founder of Real Vision, remains bullish, citing accelerating adoption and strong underlying fundamentals. In a recent post on X, Pal said though prices are dropping after strong gains, cryptocurrencies and its underlying technology are being adopted twice as fast as the internet. At this pace, […]
SEC Director of Enforcement Gurbir Grewal recently spoke at the SEC Speaks event, addressing the regulatory challenges the crypto industry faces. Grewal countered the narrative that the SEC lacks a clear regulatory framework for crypto, emphasizing the agency’s commitment to applying existing securities laws to the digital asset space. Refuting enforcement claims The regulator opened […]
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Argentina and El Salvador, both facing economic struggles, are taking vastly different approaches to cryptocurrency. While El Salvador became the first country to adopt Bitcoin as legal tender in 2021, Argentina’s new president, Javier Milei, is taking a more measured route, prioritizing regulation and differentiation between the crypto and the broader cryptocurrency landscape. Bitcoin Distinction […]
The Bitcoin price took a sharp downturn recently, dipping below $67,000 and raising concerns among investors. However, a crypto analyst has encouraged the crypto community to buy more Bitcoin at this time, suggesting that the decline presents an opportunity to acquire BTC at a lower price. Bitcoin Decline Signals Prime Buying Opportunity Michael van de Poppe, a popular crypto analyst and enthusiast, has remained optimistic about Bitcoin’s future outlook, urging the broader crypto community to view the cryptocurrency’s recent dip as a buying opportunity. Related Reading: Dogecoin Hits Major Roadblock As Whales Go On Massive Selling Spree In a recent X (formerly Twitter) post, the analyst shared insights on the crypto market, noting the regular occurrence of both bullish and bearish activities, which contribute to the market’s balance and stability. He also revealed that price corrections were normal in the crypto market, independent of market performance or conditions. Poppe has encouraged investors and crypto enthusiasts to buy more Bitcoin now that the price is currently trading at $66,528, according to CoinMarketCap. Over the past week, the cryptocurrency has witnessed significant price declines, plummeting by 4.64%. This unexpected price decline has been attributed to the crackdown on Silk Road Bitcoin, an online black market that allows users to purchase illegal and unethical commodities anonymously using Bitcoin. According to ZachXBT, a crypto community member, the United States government transferred 30,175 BTC worth $2.1 billion of Silk Road hack funds to Coinbase. This massive Bitcoin transaction has possibly led to the cryptocurrency’s present decline, fueled by bearish news and market volatility. “At peak bullish momentum, you’ll see a huge impact of every bearish narrative. This time, it’s the Silk Road Bitcoin being transferred. Anyway, buy the dip,” Poppe stated. BTC’s Peak Anticipated Before Halving Event In another X post, Poppe revealed disheartening news, noting that a critical price zone had been lost for Bitcoin. The crypto analyst asserted that the cryptocurrency would not witness a surge to new all-time highs during this pre-halving phase unless it breaks through resistance levels at $69,000. Related Reading: Solana Whales Are Making Moves – Here’s The Direction They’re Headed In The analyst foresees a period of consolidation for BTC, highlighting that during this time altcoins are expected to gain traction while Bitcoin undergoes a correction phase. He further disclosed that a price correction for Bitcoin indicates a healthy and organic market cycle. Poppe has stated that Bitcoin’s area of interest lies between the range of $56,000 to $60,000. Concluding his post, the analyst further encouraged investors to acquire Bitcoin, emphasizing that “dips are for buying in these markets.” BTC price recovers from dip | Source: BTCUSD on Tradingview.com Featured image from CNBC, chart from Tradingview.com
The DSS will last five years and could lead to a new regulatory regime for securities settlement.
With less than three weeks until the highly anticipated Bitcoin halving, the crypto market is facing a period of turbulence. Bitcoin (BTC), the world’s leading digital asset, has shed over 12% of its value in the past week, dipping below $66,000 for the first time since late March. This downturn comes amidst broader market anxieties, […]
Crypto analyst Altcoin Sherpa recently mentioned that Shiba Inu (SHIB) could still flip Dogecoin (DOGE) as the largest meme coin by market cap. His statement comes at a time when SHIB’s fundamentals are showing strength, with the token’s burn rate increasing significantly in the last 24 hours. Shiba Inu To Have “Some Moments” Where It […]
In a move highlighting the growing interest in the stablecoin market, Nick Van Eck, son of investment management veteran Jan Van Eck, is making a significant bet on cryptocurrencies through the family business. Agora, a startup co-founded by spot Bitcoin exchange-traded fund (ETF) manager firm VanEck, along with crypto veterans Drake Evans and Joe McGrady, […]
Decentralized Finance (DeFi) protocol MakerDAO is considering allocating 600 million DAI stablecoins to the USDe and staked USDe (sUSDe) protocols through the DeFi lending platform Morpho Labs. The proposed allocation aims to improve risk management and maximize user incentives in the DeFi landscape. MakerDAO Sets Maximum 600 Million DAI Allocation The Spark DAI Vault, launched in 2023 as a lending platform, experienced strong demand soon after its launch, according to MakerDAO’s announcement on the protocol’s governance forum. Related Reading: Tether Buys 8,888 Bitcoin For $618 Million, But Why Is Price Down? Given the desire to keep liquidity risk at an acceptable level, MakerDAO proposes a greater allocation of DAI to the USDe pools, which can be immediately redeemed via Ethena (ENA), a synthetic dollar protocol developed on the Ethereum blockchain. This reallocation also allows Ethena to retain a larger revenue share for their insurance fund, potentially improving the overall risk profile of MakerDAO’s Ethena allocation. Furthermore, MakerDAO recommends focusing future allocations on the 86% and 91.5% Loan-To-Liquidity-Value (LLTV) pools, which have shown “higher efficiency” regarding borrow rates and user demand. While lower LLTV pools, such as the 77% and 94.5% pools, will continue to receive allocations, they will be proportionally lower than the two primary pools. To mitigate potential insolvency risks and ensure a favorable risk-reward ratio, MakerDAO limits the total allocation to 600 million DAI. However, the Dividend Debt Mechanism (DDM) line parameter is set at 1 billion DAI to provide flexibility for future increases if constraints change. In addition, MakerDAO recommends marginally increasing the funds deployed in the 77% and 94.5% pools to 10 million DAI each to ensure sufficient pool size for “efficient management of positions” and the calibration of interest rate models. The recently unveiled Ethena points program for Season 2 introduces a $500 million cap on total eligible collateral for incentives on Morpho. If demand for DAI borrowing through the vault declines after this threshold is reached, the protocol states that Multisig can reduce allocations below $600 million to maintain a balanced supply/demand dynamic and align with expected collateral returns. MKR Surges To Near Three-Year High MakerDAO’s native token, MKR, hit a nearly three-year high of $4,074 on Sunday, which is 40% below its current all-time high (ATH) of $6,292 in May 2023. The token has pulled back nearly 2% and is currently trading at $3,717. It is consolidating above its next support level of $3,640. Despite the retracement, MKR still boasts significant gains over longer time frames. It has posted a 25% gain over the past fourteen days and an impressive 80% gain over the past thirty days. Related Reading: Solana Price Could Explode By 80% If This Happens: Crypto Analyst Demand for MKR tokens is evident as trading volume has increased to $274,659,607 over the past 24 hours, a substantial 40% increase from just one day ago, according to CoinGecko data. In addition, MKR’s market capitalization has seen a remarkable increase of nearly 100% over the past month. Starting in March with a market cap of $1.8 billion, as of the most recent update on April 2nd, the market cap stands at $3.46 billion. This significant increase underscores the high level of interest in the MakerDAO protocol and its native token. Featured image from Shutterstock, chart from TradingView.com
Brazil's government proposes a bill to reform tax rules for financial investments and crypto assets, targeting tax havens with a 22.5% rate.