The post Lido Co-Founders and Paradigm Secretly Support New EigenLayer Rival Amid DeFi Tensions appeared first on Coinpedia Fintech News
Lido co-founders and the venture firm Paradigm are secretly funding Symbiotic, a new competitor to EigenLayer in the burgeoning “restaking” arena. Symbiotic, supported by Konstantin Lomashuk of Lido, Vasiliy Shapovalov, and Paradigm, currently aims to leverage Lido’s staked ether (stETH) for restaking. Additionally, studies reveal Symbiotic’s strategy to create a permissionless protocol for decentralized networks. …
Salim Ramji spoke highly of Bitcoin and blockchain technology when overseeing BlackRock’s spot Bitcoin ETF filing.
Crypto investors flocked to unofficial GameStop memecoins because they're jumping on any “sign of hope they can,” say several traders.
El Salvador has once again made headlines as it announced its ownership of 5,750 Bitcoin (BTC), which is valued at approximately $353 million based on current market prices, according to Bloomberg. This revelation comes after the National Bitcoin Office launched a tracking website, developed in collaboration with mempool.space, to provide transparency regarding the treasury’s BTC […]
Ethereum price is eyeing an upside break above the $2,900 level. ETH must settle above $2,900 and $2,940 to continue higher in the near term. Ethereum is forming a base above the $2,860 support zone. The price is trading below $2,950 and the 100-hourly Simple Moving Average. There is a key bearish trend line forming with resistance at $2,905 on the hourly chart of ETH/USD (data feed via Kraken). The pair could start a decent increase if there is a close above the $2,940 and $2,950 resistance levels. Ethereum Price Eyes Fresh Increase Ethereum price struggled to settle above the $3,000 level and started another decline, like Bitcoin. ETH traded below the $2,950 and $2,940 support levels. The price even traded below $2,900. However, the bulls were again active near the $2,860 support zone. A low was formed at $2,860 and the price is now consolidating losses. It is slowly moving higher above the $2,885 level. Ethereum is now trading below $2,950 and the 100-hourly Simple Moving Average. Immediate resistance is near the $2,900 level. There is also a key bearish trend line forming with resistance at $2,905 on the hourly chart of ETH/USD. The trend line is close to the 23.6% Fib retracement level of the recent decline from the $2,992 swing high to the $2,860 low. An upside break above the trend line might send the price toward the $2,925 level and the 100-hourly Simple Moving Average. The first major resistance is near the $2,940 level or the 61.8% Fib retracement level of the recent decline from the $2,992 swing high to the $2,860 low. Source: ETHUSD on TradingView.com The next key resistance sits at $2,950, above which the price might gain traction and rise toward the $3,000 level. If there is a clear move above the $3,000 level, the price might rise and test the $3,050 resistance. Any more gains could send Ether toward the $3,150 resistance zone. Another Drop In ETH? If Ethereum fails to clear the $2,925 resistance, it could start another decline. Initial support on the downside is near the $2,880 level. The first major support is near the $2,860 zone. The next support is near the $2,810 level. A clear move below the $2,810 support might push the price toward $2,740. Any more losses might send the price toward the $2,650 level in the near term. Technical Indicators Hourly MACD – The MACD for ETH/USD is losing momentum in the bearish zone. Hourly RSI – The RSI for ETH/USD is now below the 50 level. Major Support Level – $2,860 Major Resistance Level – $2,925
Degen Chain says it’s working to resolve an issue that has seen its network stop producing blocks for more than two days.
Bitcoin price is holding the key support at $60,000. BTC could start another increase and rise toward the range resistance at $63,500. Bitcoin is still trading in a range between $60,000 and $63,500. The price is trading above $61,500 and the 100 hourly Simple moving average. There was a break above a connecting bearish trend line with resistance at $61,550 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could gain bullish momentum if it clears $62,200 and $62,500. Bitcoin Price Remains Steady Bitcoin price started another decline from the $63,500 resistance zone. BTC traded below the $62,500 and $62,200 support levels. A low was formed at $61,000 and the price started a recovery wave. There was a move above the $61,250 and $61,500 levels. Besides, there was a break above a connecting bearish trend line with resistance at $61,550 on the hourly chart of the BTC/USD pair. There was a move above the 23.6% Fib retracement level of the recent decline from the $63,400 swing high to the $61,000 low. Bitcoin is still trading above $61,500 and the 100 hourly Simple moving average. Immediate resistance is near the $62,200 level or the 50% Fib retracement level of the recent decline from the $63,400 swing high to the $61,000 low. The first major resistance could be $62,500. The next key resistance could be $63,000. A clear move above the $63,000 resistance might send the price higher. The main resistance now sits at $63,500. If there is a close above the $63,500 resistance zone, the price could continue to move up. In the stated case, the price could rise toward $65,000. Another Drop In BTC? If Bitcoin fails to climb above the $62,500 resistance zone, it could start another decline. Immediate support on the downside is near the $61,550 level and the 100 hourly Simple moving average. The first major support is $61,000. If there is a close below $61,000, the price could start to drop toward $60,400. Any more losses might send the price toward the $60,000 support zone in the near term. Technical indicators: Hourly MACD – The MACD is now gaining pace in the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now above the 50 level. Major Support Levels – $61,550, followed by $61,000. Major Resistance Levels – $62,200, $62,500, and $63,500.
El Salvador's volcano-powered mining adds nearly 474 Bitcoin to its holdings.
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The UK government’s Insolvency Service has shut down a crypto advisory firm for accounting negligence and the loss of investors’ money. The firm seemingly claimed to help users with investments while promoting crypto schemes that resulted in millions lost. Related Reading: Binance To Bookshelves? Former CEO’s Next Chapter Might Surprise You False Crypto Expert Company […]
Illya Sutskever said he’s leaving OpenAI for a “personally meaningful” project, and research director Jakub Pachocki is now taking over the role.
The contributor, “hoak,” said their actions were due to a “crippling gambling addiction” and “psychological factors that went by unchecked.”
Raoul Pal, a well-known figure in the financial sector, provided a striking forecast for the future of cryptocurrencies. His analysis suggests a potential rise in the market’s total capitalization to $100 trillion, spurred by global liquidity trends and technological adoption. The Mechanics Behind The Prediction Pal’s insights are rooted in his observation of the global […]
Mike Novogratz says crypto is in a “consolidation phase” and predicts that prices will bounce higher at the end of the current quarter.
Meme stocks are blazing hot again with GameStop bull Roaring Kitty’s apparent return, but will his tweets alone sustain the hype?
Oklahoma has signed into law a bill protecting crypto-related rights. The Oklahoma State Legislature website indicates Governor Kevin Stitt approved HB 3594 on May 13. The bill comes into effect on Nov. 1. Under the new law, the Oklahoma state government cannot prohibit, restrict, or impair the use of crypto in purchases or the self-custody […]
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Salim Ramji set to be Vanguard's new CEO, igniting talks on the company's crypto policy with his prior Bitcoin ETF experience at BlackRock.
The post Vanguard set to appoint ex-BlackRock ETF chief as next CEO: WSJ appeared first on Crypto Briefing.
It comes just two weeks after the Insolvency Service secured a winding-up order against Amey’s firm in the United Kingdom High Court on April 30.
Japanese debt might be high, but it isn't comparable to American debt, which is set to trigger a financial implosion — and light a spark under Bitcoin.
The Oost-Brabant district court in the Netherlands has sentenced Alexey Pertsev, co-developer of Tornado Cash, to 64 months in prison for his involvement in creating and maintaining the crypto mixing tool. The court alleges that Tornado Cash enables “criminal activity and terrorism.” Pertsev, along with two other individuals, developed Tornado Cash, a tool for concealing […]
A quant has explained how there appears to be a relationship between Coinbase’s spot volume dominance vs. Binance’s and the Bitcoin price. Bitcoin Has Been Reacting To Binance/Coinbase Volume Changes In a CryptoQuant Quicktake post, an analyst discussed the dynamics in the cryptocurrency market that arise out of the battle happening between Binance and Coinbase for spot volume dominance. Related Reading: Newbie Bitcoin Whales Buying 200,000 BTC Per Week, Data Shows The quant shared a chart below that shows how this war for dominance has played out over the past decade. As the graph shows, Binance has been the much more dominant of the two platforms when considering the spot volume. The exchange is hosting five times as much volume as Coinbase. The analyst notes that the difference between the two would be even higher when considering the BTC-FDUSD pair, which isn’t included in the data depicted in the above chart. Despite the much lower spot volume, Coinbase still hasn’t been irrelevant in the market. For example, the platform is the custodian for Bitcoin spot exchange-traded funds (ETFs) like BlackRock’s IBIT and Grayscale’s GBTC. There also appears to be an interesting pattern between the dominance of the American exchange and the Bitcoin spot price. The quant has highlighted this trend in the graph. There have been a few instances where a rise in the spot trading volume of Coinbase against Binance has preceded surges in the value of cryptocurrency. Similarly, declines in the platform’s dominance have seemingly led to drawdowns in the Bitcoin price. The analyst has also discussed the trend in the volumes of the two exchanges more closely, using the spot volume ratio for them, as shown below. The chart shows that the spot volume ratio between Binance and Coinbase had spiked to very high levels in 2023, with the former’s volume being 53 times the latter’s. The reason behind this was the zero-fee scheme that Binance had introduced for the Bitcoin trading pairs. However, Coinbase’s volume has recently risen, although the ratio remains notably in favor of Binance. This shift in the market emerged as the Bitcoin spot ETF-related news started to intensify. Related Reading: Bitcoin Will Be Set For New ATHs If It Breaks This Resistance: Analyst The quant concludes: The dynamics between these exchanges are complex, but the graphs show that each exchange’s dominance at specific times has a direct impact on the price of Bitcoin. It’s a true battle between the market’s biggest players, where competition is constant, and the outcome is reflected in cryptocurrency movements. BTC Price At the time of writing, Bitcoin is trading at around $61,800, down 3% over the past week. Featured image from Kanchanara on Unsplash.com, CryptoQuant.com, chart from TradingView.com
Ethereum remains under immense selling pressure, shaving over 30% from March 2024 highs. With prices recently dropping below $3,000 and sellers doubling down, there could be no reprieve for optimistic buyers in the sessions to come. Analyst Expects One More “Washout” To $2,700 Taking to X, one analyst notes that the coin is still bearish and […]
XRP, the cryptocurrency associated with Ripple, has been locked in a lengthy period of consolidation, trading between $0.300 and $0.600 for the past seven years. Despite a brief surge during the 2021 bull run that saw XRP reach a three-year high of $1.9 in April, the token has since returned to its range, lacking the bullish momentum to overcome upper resistance levels. However, some crypto analysts are now predicting a major uptrend for XRP in the coming months, potentially propelling it to new heights. Analysts Anticipate XRP Breakout A technical analyst using the pseudonym “U-COPY” on the social media site X (formerly Twitter) suggests that XRP could experience significant movement between May 15 and August. U-COPY points out that XRP has been slowly moving up from its previous low at $0.46 and is nearing the end of a long triangle formation, which has been in accumulation since 2018. The analyst believes that XRP’s real potential will be revealed in the fully formed bull cycle, with the token possibly experiencing substantial growth by the end of the year. Related Reading: Brace For Impact: Mt. Gox Set To Inject 142,000 BTC And 143,000 Bitcoin Cash Into The Market- Here’s When Supporting this bullish outlook, another analyst, Armando Pantoja, proposes that the crypto bull run could begin in September or October 2025, with XRP potentially reaching a price of $0.75. Pantoja further suggests that if former US President Trump wins the election and the Securities and Exchange Commission (SEC) eases its stance on cryptocurrencies, XRP could be propelled to higher levels. This change in regulatory dynamics, combined with the ongoing legal battle between Ripple and the SEC, may increase the likelihood of XRP gaining approval for an exchange-traded fund (ETF) similar to Bitcoin. Pantoja outlines a price range of $1-2 for an XRP ETF announcement in early 2025. If interest rates are cut multiple times during the same period, XRP could potentially reach $5-10. Ultimately, Pantoja predicts the possibility of XRP hitting $10-$20 by the fourth quarter of 2025 or the first quarter of 2026. ‘Buy the Dip’ Opportunity? According to market intelligence platform Santiment, The XRP Ledger (XRPL) has recently witnessed a notable increase in the movement of dormant tokens, signaling a potential shift in market dynamics for the token. Coinciding with the opening of May, the company’s Token Age Consumed metric reveals a spike in the transfer of old coins, reminiscent of a similar occurrence in April, just before a significant downturn in the market. During that period, XRP experienced a sharp decline in value, dropping by 16%. However, in contrast to the previous event, Santiment suggests that there is a “compelling argument” that this current surge in old coin movement might be attributed to the interest of key stakeholders looking to “buy the dip.” Related Reading: This Crypto Expert Called The Bitcoin Top in 2021, Now He’s Calling The Bottom In 2024 Furthermore, it is worth noting the growing open interest in exchanges, which has recently reached a three-week high. This uptick in open interest indicates increased active positions in XRP, potentially reflecting growing market participation and heightened trading activity. Considering these factors together—the surge in dormant token activity, the potential buy-the-dip interest from key stakeholders, and the rising open interest on exchanges—there appears to be a shift in sentiment surrounding XRP. At press time, the seventh-largest cryptocurrency trades at $0.5020, down over 7% in the past week alone and 1% in the past 24 hours. Featured image from Shutterstock, chart from TradingView.com
CoinShares reported $55.2 million in revenue, gains, and other income for the first quarter. The EU crypto investment firm’s May 14 earnings report described the total as a 216% year-over-year increase. CoinShares also reported a comprehensive income of $42.9 million for the first quarter, an elevenfold year-over-year increase. It reported earnings before interest, taxes, depreciation, […]
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A number of Dogecoin metrics have turned bullish in the last few days, showing increased interest from investors. This ranges from the meme coin’s daily derivatives trading volumes to its open interest seeing a significant increase. However, in the midst of this, the Dogecoin price has remained limp, sparking worries among investors. Dogecoin Derivatives Volume And Open Interest See Increase One of the major Dogecoin metrics that has seen a significant increase recently is its derivatives trading volume. The trend began on Monday when the derivatives trading volume saw a 60% uptick. However, it seems DOGE traders are far from done as the volume has almost doubled since that time. Related Reading: Analyst Points Out Level To Beat If Bitcoin Is To Reach $76,000 According to data from Coinglass, the Dogecoin derivatives trading volume is up 111% in the last day alone. This has pushed the derivatives trading volume to $3.85 billion, a significant increase from the $1.99 billion that was recorded on Monday. The launch of Dogecoin futures contracts by Coinbase, the leading crypto exchange in the United States, may have something to do with this. Following the launch on April 1, 2024, the meme coin has seen increased interest in its derivatives products, which explains the increase in the volume. However, the derivatives trading volume is not the only thing that has seen an uptick during this time. As Coinglass data shows, the Dogecoin open interest has also risen significantly during this time. It has seen an approximately 12% increase in the last day to touch above $830 million. Despite this increase in the Dogecoin open interest, it is still a long way from its all-time high of $1.91 billion that was recorded on March 29. So, the current open interest of $830 million represents an over 50% decline from its all-time high. At the same time, the DOGE price is still struggling, showing a disconnect between the rise in metrics and the price of the meme coin. DOGE Price Doesn’t Respond To Bullish Metrics The Dogecoin price has remained muted during this time, even with the increased momentum. The total daily trading volume of the meme coin is up 128% in the last day. However, its price has barely moved 4%, even amid the meme coin craze sparked by the GameStop (GME) 100% rally. Related Reading: Analyst Who Predicted Solana’s 1,100% Move Reveals Where The Altcoin Is Headed Next DOGEs price has barely moved during this time and the resistance at $0.15 is waxing stronger. This suggests that the focus is no longer on Dogecoin during meme coin craze and rather on newer counterparts such as Solana-based GME and AMC, which have seen incredible rallies in the last day. At the time of writing, the DOGE price is trending at $0.49, with a 3.48% increase in the last day. However, in the longer time frame, the meme coin is struggling with 5.79% and 4% losses on the weekly and monthly charts, respectively. Featured image from New York Magazine, chart from Tradingview.com
Lido co-founders and Paradigm secretly fund Symbiotic, a new competitor to EigenLayer in the DeFi restaking space.
The post Lido co-founders back EigenLayer rival Symbiotic — report appeared first on Crypto Briefing.
The SEC says case dismissal without prejudice is “normally granted” when a plaintiff requests it, but the court has criticized the agency’s current suit.
Inflows to crypto investment funds top $130 million, and 13F filings reveal new institutional investors’ spot BTC ETF positions.
The popularity of new blockchain “restaking" protocols led by EigenLayer has drawn a response from the principals behind the liquid staking platform Lido, which itself burst onto the scene a couple of years ago to become the largest project in decentralized finance.
The return of Keith Gill (also known as “Roaring Kitty”), the man who largely contributed to the GameStop short squeeze in 2021, and the Dogecoin run, has led to talks about another imminent meme coin mania. If so, some meme coins are worth watching, as they could be the biggest beneficiaries of such development. Pepe […]