CoinDesk Indices' Bitcoin Trend Indicator has been indicating a strong uptrend since last fall.
Hong Kong is on the cusp of approving its first spot Bitcoin (BTC) and Ethereum (ETH) exchange-traded funds (ETFs) with potential final approvals as early as Monday, according to Bloomberg, citing two people familiar with the matter. This move positions Hong Kong as a pivotal player in the Asian cryptocurrency market and underscores its ambition […]
Under its deal with RedStone, Ether.Fi will dedicate $500 million to help secure RedStone's data oracles, which are used to pass information between blockchains and the outside world.
The update would add an improvement proposal inclusive of new operating instructions for wallets that gives them smart contract-like features.
Ethereum price stagnates in its ETH and BTC pair as investors’ expectations for a spot ETH ETF dwindle.
The latest price moves in bitcoin (BTC) and crypto markets in context for April 10, 2024. First Mover is CoinDesk’s daily newsletter that contextualizes the latest actions in the crypto markets.
The latest price moves in bitcoin (BTC) and crypto markets in context for April 9, 2024. First Mover is CoinDesk’s daily newsletter that contextualizes the latest actions in the crypto markets.
Liquid staking tokens like Lido, Rocket Pool, and ether.fi follow ether's gains.
The proposal, initially introduced in February, could harden Ethereum's native cryptocurrency, ether, as as a form of money – by reducing the inflation of new supply. But some members of the community say if it's not broke, don't fix it.
In a recent analysis, JP Morgan’s Global Markets Strategy team has shed light on key developments within the Ethereum network that could significantly influence its classification under securities law. The report comes at a critical juncture for ETH, as the Swiss-based foundation is under investigation by the US Securities and Exchange Commission (SEC). Why Ethereum […]
Bitfinex Derivatives announced the launch of perpetual futures tied to Volmex's proprietary bitcoin and ether implied volatility indices.
Ethereum investors are navigating the second quarter of 2024, cautiously embracing optimism, leveraging insights from historical trends and market data to anticipate potential gains. Related Reading: XRP And XLM Blast: Analyst’s 20X Rally Projection To ‘Melt Faces’ Santiment’s recent analysis reveals that the number of Ethereum addresses holding coins has reached highs of more than 118,000, with midterm MVRV suggesting a mild bullish signal. These indicators, combined with past data indicating Ethereum’s tendency for robust performance during Q2, fuel hopes for another season of positive returns. Ethereum: Historically Strong Q2 Performance Crypto analyst Ali Martinez recently shared a screenshot of Ethereum’s quarterly returns on social media platform X, highlighting the cryptocurrency’s significant spikes during previous second quarters, notably in 2017 and 2019. These spikes, with increases of 450% and over 100% respectively, have intrigued investors and led them to closely monitor Ethereum’s performance in the current quarter. Q2 has historically been very bullish for $ETH! However, we must consider the high probability that the @SECGov will delay the approval of a spot #Ethereum ETF, which may cause turbulence in the market. pic.twitter.com/TlZ3KZhr4e — Ali (@ali_charts) April 1, 2024 Several key financial players, including BlackRock, Fidelity, and Grayscale, have expressed interest in launching a spot Ethereum ETF. However, the regulatory hurdles present significant challenges, raising questions about Ethereum’s integration into traditional financial markets. Market indicators reflect Ethereum’s current state, with nearly 5% decline in the last 24 hours, trading at $3,380. Despite this dip, Ethereum briefly surpassed $3,500 over the weekend, showcasing resilience amidst market fluctuations. Ethereum price action in the last three months. Source: Coingecko While market indicators point towards a potentially bullish period for Ethereum, uncertainty looms over the regulatory landscape, casting a shadow of caution over investors’ optimism. The impending decision by the Securities and Exchange Commission regarding the approval or rejection of the spot Ethereum ETF by May 23 is eagerly anticipated. Analysts cautiously estimate a modest 25% likelihood of approval, acknowledging the regulatory complexities surrounding cryptocurrency investment vehicles. Ether market cap currently at $406 billion. Chart: TradingView.com ETF Approval: Boon For Ether? Approval of the ETF could herald a new era for Ethereum, opening the floodgates for increased institutional investment and potentially igniting heightened market demand. Institutional investors, previously hindered by regulatory uncertainties and limited investment avenues, would gain access to a regulated and transparent platform, thus bolstering Ethereum’s legitimacy within traditional finance. Such a development could fuel a surge in Ethereum’s market value, attracting both seasoned investors and newcomers alike. Related Reading: Get Ready For A Bitcoin Cash Revolution: Analyst Forecasts Historic Breakout Conversely, a rejection or further delay in approval may deliver a blow to Ethereum’s short-term prospects, potentially triggering short-term volatility and denting investor sentiment. The market, accustomed to swift movements and rapid changes, may experience a period of turbulence as investors reassess their strategies in light of regulatory setbacks. Ethereum’s second quarter outlook is marked by a delicate balance between historical performance patterns, regulatory uncertainties, and market dynamics. While past trends hint at potential gains, the pending decision on the spot Ethereum ETF introduces a level of unpredictability to the market. Featured image from Gary Bendig/Unsplash, chart from TradingView
Only 19% of gamblers betting on the outcome of a decision on whether to approve or deny spot Ether ETFs by the U.S. SEC are putting their money on a positive result by the May deadline.
Dealer hedging could breed volatility at around $70,000, one observer said.
The latest price moves in bitcoin (BTC) and crypto markets in context for March 26, 2024. First Mover is CoinDesk’s daily newsletter that contextualizes the latest actions in the crypto markets.
Elon Musk, the tech magnate behind SpaceX and Tesla, has raised questions about Ethereum co-founder Vitalik Buterin’s apparent retreat from X, the platform Musk acquired in 2022 for $44 billion. The conversation was sparked by a post from “Autism Capital,” a crypto influencer with significant clout in the crypto dialogue, who lamented Buterin’s reduced engagement […]
On Wednesday, BlackRock, the world’s largest asset manager, announced the launch of its first tokenized fund on the Ethereum blockchain, marking a significant stride in bridging the gap between traditional finance and digital assets. The BlackRock USD Institutional Digital Liquidity Fund, known as BUIDL, aims to provide qualified investors with US dollar yields through blockchain […]
The decentralized finance (DeFi) ecosystem teetered on the brink of a meltdown yesterday as cascading liquidations swept through the market following a sharp drop in Ethereum (ETH) price. Over $5.4 million in collateralized assets were forcibly sold off in a 24-hour period, raising concerns about the stability of the DeFi house of cards. Related Reading: AVAX Price Soars To Highest In Nearly 2 Years, Over 80% Of Holders In Profit Ethereum, the world’s second-largest cryptocurrency by market capitalization, bore the brunt of the liquidations. Its price plummeted over 9% to below $3,200, a far cry from its recent high of $4,092. This price swing triggered a domino effect, as collateralized loans used to amplify returns in DeFi protocols faced margin calls. Data from Parsec paints a bleak picture, with a potential $24 million liquidation event looming if ETH price dips further to $3,008. Volume of transactions involving Ether across Defi protocols. Source: Parsec On-Chain Derivatives Spark $52 Million DeFi Liquidation Blitz To make matters worse, within the same time frame, major on-chain derivatives have triggered liquidations totaling more than $52 million. After selling at a high of $4,100 for Ethereum, short traders recouped their losses by repurchasing the cryptocurrency at $3,200. The pain wasn’t shared equally, however. Panic selling by long position holders, those betting on an ETH price increase, resulted in a whopping $104 million in liquidations compared to a little over $16 million for short sellers. This imbalance could exacerbate the ETH price decline, creating a negative feedback loop. The situation highlights the inherent risks associated with leverage in DeFi protocols, While leverage can magnify profits, it can also amplify losses, especially during periods of high volatility. Ether market cap at $378 billion on the 24-hour chart: TradingView.com The bloodbath wasn’t confined to the DeFi space. The broader crypto market experienced heightened volatility as investors braced for the upcoming Federal Open Market Committee (FOMC) meeting. The potential for a Federal Reserve interest rate hike, coupled with weak inflows into Spot Bitcoin ETFs, cast a shadow of bearish sentiment across the digital asset landscape. Ether price down in the last 24 hours. Source: Coingecko. Ethereum Price At A Glance Currently, Ethereum (ETH) is experiencing a decline of nearly 10% and is currently trading at $3,138. The 24-hour trading volume for ETH stands at $29 million. Ethereum had a 20% retracement, making it the second most significant decliner among the top 10 cryptocurrencies. ETH traders maintained their sense of confidence by retaining and mitigating their positions in anticipation of an impending period of recovery. Related Reading: XRP Price On The Crosshair As Trading Begins On US-Backed Exchange Based on the prevailing market indicators, it is plausible that the price of Ethereum may evade more drops in the foreseeable future, as the bullish sentiment seeks to consolidate at the support level of $3,200, thereby establishing a foundation for a subsequent phase of recuperation. Featured image from Pexels, chart from TradingView
The world of Decentralized Finance (DeFi) witnessed a power move this week. Justin Sun, the Tron poster child, strategically deployed a massive 120,000 Ethereum (ETH) into the burgeoning Ether Fi protocol. This $480 million injection not only underscores Sun’s commitment to the DeFi space but also propels Ether Fi to the forefront of the industry. […]
The latest price moves in bitcoin (BTC) and crypto markets in context for March 14, 2024. First Mover is CoinDesk’s daily newsletter that contextualizes the latest actions in the crypto markets.
A key element of the upgrade is to enable a new place for storing data on the blockchain – referred to as "proto-danksharding," which gives room for a dedicated space that is separate from regular transactions, and at a lower cost.
The upgrade is designed to usher in a new era of cheaper fees for the growing array of layer-2 networks that operate on top of Ethereum.
Liquid restaking protocol ether.fi has raised $23 million in a Series A round led by Bullish Capital and CoinFund.
The amount of ether held on exchanges is at an all-time low of 11%, a sign that more of the cryptocurrency is being locked up for DeFi, the report said.
Bitcoin could target $58,000 after the breakout, Swissblock analysts suggested.
Institutional interest in digital assets means that crypto terms such as 'Nakamoto Coefficient' are now mainstream issues.
The price of ether, the native token to the Ethereum network, rose past $3,000 for the first time since April 2022 on Monday, continuing a recent hot streak.
However, ether will likely capture more hype and mindshare in the coming months on a potential ETF listing, one analyst said.
The restaking protocol’s TVL is up 307% during the past month following the temporary removal of its staking cap.
Several traditional financial firms are vying for an ether exchange-traded fund in the U.S., a move that is boosting the token’s medium-term outlook.