Uniswap Foundation reveals $41M balance sheet ahead of crucial fee distribution vote, as SEC enforcement threats loom over the protocol's UNI and LP tokens.
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After a crucial week for Ethereum, a technical candlestick arrangement shows that ETH prices could prepare for a sharp upturn in the coming weeks and months. Pointing out events in the monthly chart, one analyst notes that the ETH/BTC ratio reverses from a multi-year support trend line. Usually, the analyst continued, when prices bounce from this line, altcoin prices tend to react, trending higher. ETH/BTC Rising From Crucial Support Trend Line The ETH/BTC is a ratio closely monitored by technical analysts. It compares the performance of the world’s first and second most valuable coins. Although Bitcoin has been firm for the better part of the last two years, the monthly chart clearly shows a descending channel, indicating an upward trend. So far, there have been a series of higher lows. This suggests that bulls have been soaking in selling pressure over the years, keeping prices higher. Related Reading: XRP Bullish Outlook: Analyst Predicts Mega Run On The Horizon Looking at the monthly chart, this month’s bar will close firmly as bullish. This will result in a double-bar bullish reversal pattern that may ignite demand. This will subsequently help pump ETH prices even higher. Even so, the relatively lower trading volume, lower than those seen in July 2022, suggests that participation is not at historically high levels. A bullish bar in June confirming this month’s gain could be the base of another leg up. If this happens, it will mirror those of January 2021. Another 40% gain versus Bitcoin could see ETH close above 0.08 BTC, propelling the coin closely toward 2017 highs. Overall, Bitcoin has been firm. From September 2022, BTC has been outperforming ETH, erasing gains from 2020 and 2021. The result was a descending channel, though this phase of lower lows also had relatively low participation levels. Technically, based on a volume analysis, this is bullish for ETH. Even so, a close above 0.08 BTC would be a strong testament from the bulls. It could potentially set a foundation to cement ETH, further narrowing BTC’s dominance. Spot Ethereum ETFs To Drive Demand: Path To $4,900? Over the years since launching and the final approval of spot Bitcoin exchange-traded funds (ETFs) in January, the digital asset was the only one recognized by the United States Securities and Exchange Commission (SEC). Because of this advantage, the approval of the derivative product has seen BTC become an institution’s go-to asset. Wall Street players like Fidelity and BlackRock have been enabling exposure to BTC via spot ETFs over the past four months, resulting in billions being poured into the asset. Related Reading: Chart Whisperer Spots Algorand Breakout: Get Ready For A 50% Rally However, this changed last week when the United States SEC approved listing all spot Ethereum ETFs. ETH staking was removed from amended 19b-4 files. Still, the fact that Ethereum is almost being clarified represents a massive boost for the network and the platform. ETH prices shot by as much as 30% in response, outperforming Bitcoin. It is highly likely that ETH prices will continue rising in the coming weeks. Though it remains to be seen how the reception will be, especially among investors, the coin, like BTC prices post mid-January 2024, will rally, perhaps breaking $4,100 and even all-time highs of 2021. Feature image from iStock, chart from TradingView
Chase Oliver’s proposed running mate has a strong anti-CBDC platform, but the 38-year-old Libertarian Party nominee seems to have been largely silent on crypto.
Polkadot-backed IndyCar racer Conor Daly achieved a top 10 finish at the prestigious Indianapolis 500. Reports indicated that Daly led for 22 laps in the race but couldn’t maintain his lead due to his car’s speed limitations. Despite this, he managed a commendable top-10 finish, moving up an impressive 19 spots from his 29th-place starting […]
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Bitcoin and Ether are finding buyers at higher levels, indicating that the respective overhead resistance levels are weakening and new all-time highs could be on the way.
Ethereum is currently at the forefront of traders’ minds, stirred by recent regulatory developments in the United States. The anticipation of the approval of exchange-traded funds (ETFs) for Ethereum has ignited a rally in its value. So far ETH’s price has witnessed a notable uptrend of over 20% in the past weeks, pushing its price […]
The Gopax exchange reportedly owes 100 billion Korean won in unreturned user staking deposits.
The European Securities and Markets Authority (ESMA) has been scrutinizing Maximum Extractable Value (MEV) as a clear example of illegal market abuse under its proposed technical standards for the Markets in Crypto-Assets (MiCA) regulation. Patrick Hansen, a prominent commentator on crypto regulations, recently highlighted this development on Twitter, noting the significant implications for the crypto […]
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The post Bitcoin (BTC) Price Crawls Back to $70,000 Range? Will it Make It Above $74,000? appeared first on Coinpedia Fintech News
After the recent upswing from $58,000 to $71,000, the Bitcoin bulls were heavily drained, resulting in a plunge below $67,000. The surge was fueled by multiple reasons, which were expected to elevate the rally towards a new ATH. But as it happened after the spot BTC ETF launch, the markets tumbled down following the launch …
Crypto analyst CryptoBull recently highlighted a bullish pattern that could send the XRP price to three figures. However, the analyst failed to give an exact timeline for when this massive rally would occur. XRP Price To Hit $154 CryptoBull mentioned in an X (formerly Twitter) post that that chart shows that XRP will rise to $154. The analyst highlighted an ascending broadening wedge, which he expects XRP to break out from as it makes this parabolic move to the upside. To confirm his bullish sentiment, CryptoBull also reposted the analysis of two other crypto analysts who suggested that XRP could experience a price breakout soon. Related Reading: Bitcoin Price Enters Make Or Break Zone: Analyst Reveals Important Levels To Watch One of these analysts is Javon Marks, who recently mentioned that something is brewing for XRP. He shared a chart that highlighted a bullish divergence that had formed for XRP. Marks had previously predicted that XRP could rise to as high as $200. He claimed that XRP “may be more than poised” to rise to this price level based on his Full Logarithmic follow-through analysis Marks also alluded to the 2017 bull run, when XRP saw a price increase of over 108,000%, revealing that XRP has since set up and broken out of its “largest resisting structure ever.” Crypto analyst CasiTrades is the second analyst whose analysis CryptoBull reposted. CasiTrades predicts that XRP can rise to as high as $13, seeing how it has consolidated for six years. She also raised the possibility of XRP rising to as high as $80 when it breaks out of the consolidation triangle. Crypto analyst JackTheRippler also predicted that XRP could rise as high as $100 soon enough. However, unlike CryptoBull, the crypto analyst didn’t allude to the charts but singled out the Securities and Exchange Commission’s (SEC) case against Ripple as the factor that will drive XRP’s price to such heights. He claimed XRP will reach $100 when the lawsuit ends. An XRP Breakout Is Imminent Crypto analyst Egrag Crypto suggested in a recent X post that a breakout was imminent for XRP. He highlighted the “White Triangle” breakout, which he said is “aligning perfectly” with previous charts and the Fib 0.0702 to 0.786 levels. He claimed the measured move for XRP is projected to be between $1.2 and $1.5. Related Reading: Prepare For Impact: Market Expert Says Biggest Disaster In Crypto Yet To Come However, what is most important for XRP is breaking out from the $0.70 to $0.75 price range, which Egrag labeled as critical breakout points. The crypto analyst sounded confident that XRP will soon experience this upward trend, stating that the token “is poised to break out.” He added that a “mega run for XRP is on the horizon,” although the retest of the breakout might be on the cards. At the time of writing, XRP is trading at around $0.53, down over 1% in the last 24 hours, according to data from CoinMarketCap. Featured image created with Dall.E, chart from Tradingview.com
The crypto industry has several unique approaches to smart contract execution and decentralized applications (DApps). These innovations are driven by the need for scalability, security, and efficiency, allowing developers to build increasingly sophisticated applications. Yet, what is so different between the smart contracts on different blockchains? Which is the smartest smart contract platform? Turing completeness […]
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Bitcoin prices are firm when writing and trading at around multi-month highs but below the all-important liquidation line at around $72,000. While up roughly 20% from May 2024 lows, some analysts are already questioning the sustainability of the uptrend, especially considering the level of engagement. Bitcoin Struggling For Momentum: Will Bulls Or Bears Take Over? […]
According to the on-chain sleuth, CAT memecoin creators hacked crypto influencer GCR to manipulate some coin prices.
The Uniswap Foundation's balance sheet shows $41.41 million in fiat and stablecoins and 730,000 UNI tokens.
Nomura Holdings and the GMO Internet Group are exploring ways to bring new stablecoin offerings to the Japanese market.
When analyzing the Bitcoin market, it’s equally important to understand the behavior of different market participants as it is to understand the technical foundations of Bitcoin’s price movement. On-chain analysis frequently analyzes short– and long-term holders, as their behavior is inherently different. However, Bitcoin’s maturity enables us to differentiate between large and small entities, as […]
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The Shiba Inu (SHIB) ecosystem is set to record another milestone, with the layer-2 network Shibarium approaching 5 million blocks. Despite this development, Shiba Inu’s price has remained tepid for a while now, which is undoubtedly worrisome for members of the SHIB community. Shibarium About To Hit 5 Million Blocks Data from the Shibariumscan shows […]
As the US Securities and Exchange Commission (SEC) approved all the spot Ethereum ETF applications, despite increased regulatory uncertainty surrounding the cryptocurrency, investors are becoming more optimistic about the potential for ETH’s price to reach new heights. Bullish Sentiment Surrounds Ethereum ETF Approval DeFiance Capital Founder and CIO Arthur Cheong predicts that ETH could reach an annual high of $4,500 before the newly approved index funds begin trading, surpassing its mid-March high of $4,096. This projection falls just short of ETH’s all-time high of $4,878 during the 2021 bull run. In addition, a survey conducted by WuBlockchain in the Chinese community revealed that 58% of respondents believe that ETH has the potential to rise to $10,000 or even higher in this market cycle. Related Reading: Kickstarting The Bitcoin Bull Run: Expert Says $70,000 Is The Level To Beat The recent regulatory pivot by the SEC towards approving Ether ETFs has intensified bets on further price gains. In the seven days following the announcement, ETH experienced a 26% surge, marking the largest weekly advance since the 2021 crypto bull market. This development brings hope to speculators, considering the success of US spot Bitcoin ETFs, which have amassed $59 billion in assets since their record-breaking debut in January. However, spot Ethereum ETFs will not participate in staking, earning rewards by pledging tokens to maintain the Ethereum blockchain. This omission could potentially dampen interest in these funds in comparison to holding the tokens directly. Although additional SEC approvals are required before issuers such as BlackRock and Fidelity Investments can launch their products, the timeline for these releases remains uncertain. As of now, ETH is trading around $3,900, with expectations of further upside potential. Options Bets Signal Potential Climb To $5,000 According to a Bloomberg report, analysts such as Pepperstone Group Head of Research Chris Weston believe that pullbacks in ETH are buying opportunities as the risk remains skewed to the upside. Interestingly, as seen in the chart below, some traders are placing bullish options bets, with concentrations signaling a potential climb to $5,000 or more. Furthermore, ETH’s volatility, as indicated by the T3 Ether Volatility Index, is expected to be greater than that of Bitcoin, highlighting the potential for larger price swings in the second-largest digital asset. Related Reading: Ripple CTO Addresses Curious Price Link Between XRP And XLM Insights from the futures market, particularly the level of open interest in Chicago Mercantile Exchange (CME) Ethereum futures, provide evidence of institutional demand for regulated exposure to cryptocurrencies. While open interest in CME Ether futures is growing, it remains significantly lower than that of CME Bitcoin futures. This suggests relatively less institutional exposure to Ether and could potentially impact initial inflows into Ether ETFs. Nevertheless, as the approval of Ethereum ETFs opens up new avenues for investment and speculation, the market is closely watching ETH’s price performance, with bullish sentiment and optimistic predictions prevailing among investors. Featured image from Shutterstock, chart from TradingView.com
Ronin network jumped to second place for daily active users after Pixels launched — but data suggests bots and airdrops are a big factor.
Investigation links GCR hack to the CAT meme coin team's trades on Hyperliquid, uncovering potential market manipulation.
The post ZachXBT reveals GCR account hack tied to Solana meme coin team appeared first on Crypto Briefing.
Ether price could be on track to new all-time highs, provided it can close the week above the $4,000 mark.
A quant has explained how a pattern currently forming in the Ethereum Open Interest could imply the altcoin season is coming “sooner than expected.” Altcoin Season May Be Approaching Soon Based On Ethereum Pattern In a CryptoQuant Quicktake post, an analyst has discussed about why an altcoin season may be coming soon for the cryptocurrency sector, based on a trend taking place in a couple of Ethereum and Bitcoin indicators. The first metric of relevance here is the “Open Interest,” which keeps track of the total amount of derivatives positions related to a given asset currently open on all centralized exchanges. Related Reading: Shiba Inu One Of The Most-Traded Tokens By Whales, Data Shows When the value of this metric goes up, it means the speculators are opening up fresh positions for the coin right now. On the other hand, a decline implies the users are either closing up their positions of their own volition or getting forcibly liquidated by their platform. Now, here is a chart that shows how the trend in the Open Interest has compared between Bitcoin and Ethereum over the past year: As displayed in the above graph, the Bitcoin Open Interest has been moving more or less sideways recently, while at the same time, the metric has registered growth for Ethereum. This would suggest that ETH has been seeing more appetite for derivatives market contracts than the original cryptocurrency recently. One of the driving factors behind this could be the news cycle related to the approval of the spot exchange-traded funds (ETFs) for the asset. In the same chart, the quant has also attached the data for another indicator: the Estimated Leverage Ratio (ELR). This metric measures the ratio between the Open Interest and the Exchange Reserve for any asset. The latter is naturally the total amount of the coin that’s currently sitting in the wallets of all centralized exchanges. The ELR basically provides us with information about the amount of leverage that the average user in the derivatives market is opting for right now. From the graph, it’s visible that this ratio has seen a surge for Ethereum recently but has been showing flat action for Bitcoin. Thus, it would appear that not only has ETH been seeing more speculative interest than BTC recently, but also these users opening contracts are going for higher risk as they are taking on more leverage. Related Reading: Analyst Says “Only A Matter Of Time” Before Bitcoin Flies Past ATH The analyst believes that the fact that Ethereum has overtaken Bitcoin in these indicators could be a potential sign that an altcoin season may be approaching soon. “If Ethereum’s price continues to consolidate in the current range, it’s very possible that the altcoin season will start sooner than expected,” notes the quant. It now remains to be seen how things play out in the market in the near future, given this shift of trend. ETH Price After seeing a slowdown earlier, Ethereum has been back on track in the past couple of days as its price has now climbed back above the $3,900 level. Featured image from Dall-E, CryptoQuant.com, chart from TradingView.com
On-chain data shows ancient Bitcoin investors have been waking up at a higher rate than ever before during the current cycle so far. Bitcoin 10+ Year Old Tokens Have Been Seeing Large Movements Recently As explained by CryptoQuant Head of Research Julio Moreno in a post on X, the current Bitcoin cycle has seen more […]
The post With a New ATH, Pepe Aims to Surpass This Popular Altcoin: Should the Other Cryptos Be Worried? appeared first on Coinpedia Fintech News
The crypto markets are becoming more fascinating every day as memecoins gain more attention than any other crypto. Despite multiple bullish events like the launch of the spot Ethereum ETF, the FED passing new bills, Trump advocating in favour of the space, etc., the top cryptos like Bitcoin & Ethereum maintain a sideways trend after …
A permit phishing attack appears to have siphoned 1,807 liquid staked Ether from the victim's wallet address.
The SEC's approval of spot Ethereum ETFs has positively shifted market sentiment and may redefine token regulation in the US.
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On Thursday, May 23, Argentina’s National Securities Commission (CNV) engaged in discussions with El Salvador’s National Commission of Digital Assets (CNAD). This meeting highlights a growing interconnection between the two nations, focusing particularly on Bitcoin (BTC) adoption and regulation strategies. Is Argentina Following El Salvador’s Bitcoin Path? Roberto E. Silva, the President of CNV, along […]
Crypto expert Michael van de Poppe has outlined an important price level from which Bitcoin must break out. He claims that once it achieves a successful breakout, the flagship crypto will see a new all-time high (ATH). Bitcoin Needs To Break Through $70,000 Van de Poppe mentioned in an X (formerly Twitter) post that Bitcoin needs to break through $70,000 on the lower time frame (LTF) basis. Once that happens, the analyst claimed that Bitcoin will likely see a new ATH. Related Reading: Prepare For Impact: Market Expert Says Biggest Disaster In Crypto Yet To Come He also noted that lower timeframe regions at $67,000 were holding. Meanwhile, he highlighted Bitcoin’s long consolidation, stating that almost three months have passed since the crypto token remained in that range. . However, the crypto expert believes that Bitcoin will likely remain stuck in this range for a “substantial period,” with the flagship crypto possibly trading lower. This is because he foresees a rotation from Bitcoin towards Ethereum and other altcoins, which will cause the flagship crypto not to move to the upside. This long consolidation period was expected from BTC. Arthur Hayes, the co-founder and former CEO of BitMEX, predicted that the crypto token would continue to range between $60,000 and $70,000 until August. Crypto analyst Rekt Capital has also repeatedly mentioned that Bitcoin will face such a long consolidation period, which he claimed is good for Bitcoin. He noted how the flagship crypto hit a new ATH before the halving event brought about an accelerated cycle. However, a long consolidation period means Bitcoin is trying to resynchronize with previous halving cycles. He suggested this is better since it will make the bull run longer. Rekt Capital claimed If it successfully resynchronizes with the previous bull cycles, Bitcoin will peak sometime in September or October next year. In a recent X post, Rekt Capital mentioned that “there is still scope for additional consolidation at these highs” but added that the time left in this phase “is slowly running out.” The chart the analyst shared suggested that Bitcoin simply needs to break out from the $70,000 range before it enters into the ‘parabolic uptrend’ phase. BTC May Be Headed To $78,000 Next Crypto analyst Mikybull Crypto recently suggested that Bitcoin could be headed to $78,000 on its next leg up. He revealed that the flagship crypto had broken out of an inverse head and shoulders pattern and was currently “bull flagging for the next move.” He highlighted $78,000 as the price target for this next move. Related Reading: Terra LUNA’s LUNC Set To Jump 13x, Analyst Reveals The Drivers In a subsequent X post, he claimed that BTC retesting its support level might be the next step before this “explosive rally” finally happens. Bitcoin potentially rising to $78,000 is significant as it could clear the road for the flagship crypto to hit $100,000. Crypto analyst Crypto Jebb previously mentioned that there is a “great degree of likelihood” that Bitcoin would rally to $100,000 should it break its current ATH of $73,800. Featured image created with Dall.E, chart from Tradingview.com
The move could potentially lead to buying pressure for FLOKI tokens in the coming weeks as the tokens need to be held to use the bot.
Bitcoin ETFs, led by Grayscale and BlackRock, have amassed over 1 million BTC, nearing 5% of the total Bitcoin supply.
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