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#binance #airdrop #Web3 #trend #bitcoin

As Bitcoin tumbles following the SEC’s approval of ether ETFs, market analysts are closely monitoring the next key levels. Bitcoin’s price prediction indicates a potential bullish trend, with BTC/USD currently trading at $69,042.
This update explores the pivotal support and resistance levels, providing insights into the future movements of Bitcoin amidst the shifting regulatory landscape.
SEC Approves Rule Change for Ether ETFs
The SEC has approved a rule change to allow the creation of exchange-traded funds (ETFs) that invest in ether, one of the largest cryptocurrencies. This decision follows the recent success of bitcoin ETFs, which have seen net inflows surpassing $12 billion. The approval comes just in time, aligning with the SEC’s deadline for the VanEck Ethereum ETF decision.

Companies that sponsor bitcoin ETFs, such as BlackRock, Bitwise, and Galaxy Digital, are also starting the process to launch ether ETFs. However, the SEC’s rule change does not guarantee immediate launches, as it only approves the applications from exchanges to list eight different ether funds. The actual launch dates remain uncertain.
Key Points:
Ether prices rose 2% following the SEC’s decision, after a 20% surge earlier in the week.The SEC’s order approves the listing of eight ether funds but does not set launch dates.Initial ether ETFs are expected to be smaller than bitcoin ETFs, with the Grayscale Ethereum Trust holding about $11 billion in assets.
The approval suggests a potential easing of the SEC’s stance on cryptocurrencies, particularly following the agency’s loss in a lawsuit against Grayscale in 2023. This legal outcome paved the way for the approval of bitcoin ETFs and now ether ETFs. Despite this progress, the SEC’s regulatory approach to crypto remains under political scrutiny.
Ether, the second-largest cryptocurrency, underpins the Ethereum network, which facilitates decentralized finance (DeFi) projects, nonfungible tokens (NFTs), and asset tokenization. However, the new ether ETFs in the U.S. may exclude staking, as the SEC views staking-as-a-service offerings as unregistered securities. This exclusion could reduce the attractiveness of ether ETFs compared to bitcoin ETFs.
Richard Kerr from K&L Gates highlighted that the approval does not apply to other crypto projects on the Ethereum network. Steven Lubka from Swan Bitcoin pointed out that ether ETFs might experience lower demand due to structural differences, such as the lack of staking options.
The approval of ether ETFs marks a notable development in the regulatory landscape for cryptocurrencies, signifying the increasing integration of digital assets into mainstream financial products.
Bitcoin Price Prediction
Bitcoin (BTC/USD) is trading at $69,042, showing a modest increase of 0.45% signalling a bullish Bitcoin price prediction. The pivot point, marked by the green line, is at $68,514, serving as a crucial level for trend direction. Immediate resistance levels are observed at $70,029, followed by $71,458 and $73,299.
On the downside, support levels are at $66,394, $64,947, and $63,490. The Relative Strength Index (RSI) is at 48.93, indicating neutral momentum, while the 50-day Exponential Moving Average (EMA) stands at $67,860, providing significant support.

Bitcoin Price Prediction
The price is bolstered by an upward trendline near the $69,000 level. The formation of a series of doji candles above this level suggests potential buying trends above $68,500.
Both the RSI and EMA support the likelihood of a continued bullish trend. Traders should watch for a break above the immediate resistance at $70,029 to confirm further upward movement.
#btc #btc70k #bitcoin #prediction #trading

Bitcoin (BTC), the leading cryptocurrency, struggled to halt its previous bearish trend, hovering around the $67,824 mark and hitting an intra-day low of $66,600. The decline intensified following the release of robust US labor market and Services PMI data, which reduced investor expectations of a September Fed rate cut and decreased demand for riskier assets.
Looking ahead, Bitcoin investors will focus on upcoming comments from Fed officials, particularly Fed’s Waller, who is scheduled to speak on Friday.
Hawkish remarks could weigh on Bitcoin. Furthermore, upcoming US Durable Goods Orders and Michigan Consumer Sentiment Index reports will also influence market sentiment.
Strengthening US Dollar and Positive Economic Data Impact on Bitcoin Prices

The US dollar has strengthened recently due to positive economic data, decreasing the likelihood of a Federal Reserve rate cut in September. This has pressured the crypto market, including Bitcoin.
Atlanta Fed President Raphael Bostic highlighted ongoing inflation concerns, suggesting the Fed might maintain higher rates to avoid economic overheating.
FedWatch Tool: Chances of unchanged rates in September rose from 41.9% to 48.4% on May 23rd.US Initial Jobless Claims: Fell by 8,000 to 215,000 for the week ending May 18.PMI Data: Manufacturing PMI increased to 50.9 in May, Services PMI rose to 54.8, and Composite PMI jumped to 54.4, all surpassing expectations.
The stronger US dollar and positive economic indicators have made crypto investments like Bitcoin less appealing due to higher opportunity costs.
Bitcoin Sees Bullish Trend Amid US Regulatory Changes
Recent regulatory changes in the US have sparked a bullish trend for Bitcoin. Key developments include Congress members urging the SEC to approve spot Ethereum (ETH) ETFs and the passing of the FIT21 bill, which clarifies cryptocurrency regulations.
Additionally, major Bitcoin holders, known as “whales,” have accumulated 20,000 BTC, worth around $1.4 billion, in the past week.
Strong activity in Bitcoin-linked ETFs has also been observed, with $1.7 billion flowing into these funds over the last eight days.
These regulatory changes and positive developments have boosted demand for Bitcoin, with significant accumulation by whales and substantial inflows into spot Bitcoin ETFs.
Bitcoin Price Prediction
Bitcoin (BTC/USD) is currently trading at $67,835, down 2.25% over the past 24 hours, signalling a bearish Bitcoin price prediction. The
Bitcoin price is currently trading at $67,860, down 0.27% over the past 24 hours. The 4-hour chart highlights a pivot point at $68,263. Immediate resistance levels to watch are $70,029, $71,458, and $73,299. On the downside, immediate support levels are at $66,357, $64,947, and $63,490.
The Relative Strength Index (RSI) is at 40, indicating that Bitcoin is approaching oversold conditions. The 50-day Exponential Moving Average (EMA) is at $68,615, suggesting a bearish trend as prices trade below this average.
In conclusion, Bitcoin remains bearish below $68,250. A break above this level could shift the trend to bullish, while a continued decline could see further losses.

Bitcoin Price Prediction
Conclusion: Bitcoin’s current price action suggests a bearish outlook as it trades below the pivot point of $68,263. Immediate resistance levels are at $70,030, $71,450, and $73,300, while support levels are at $66,357, $64,947, and $63,490.
#btc #bitcoin #binance

Bitcoin failed to continue its upward trend despite multiple supporting factors, such as a bearish US dollar and a dovish stance from the Federal Reserve.
BTC lost some of its gains, dropping to around $63,400 and hitting an intraday low of $62,961.
Although Bitcoin began the week on a bullish note after dipping to a low of $56,000 last week, it surged to $64,000 on Monday, spurred by a cooler-than-expected US April jobs report. The report suggested a slowing economy, which could lead to reduced inflation and lower interest rates.
However, the increase in price was short-lived as BTC edged lower on Tuesday, possibly due to cautious sentiment ahead of a speech by Neel Kashkari, the President of the Federal Reserve Bank of Minneapolis. If his comments take a hawkish tone, signaling a stricter approach to interest rates, it could strengthen the US dollar and negatively impact BTC.
Marathon Digital Soars 18%: A Beacon in Bitcoin Mining Amid Market Uncertainty
Marathon Digital Holdings, a prominent player in the Bitcoin mining sector, recently witnessed an 18% surge in its stock price to $20.67, elevating its market capitalization to nearly $800 million. This significant increase followed the announcement that Marathon would be included in the S&P SmallCap 600 Index, underscoring its rising prominence within the cryptocurrency mining industry.

Marathon Digital Holdings Inc (MARA)
Key Points:
Marathon Digital’s stock jumps 18%, market cap approaches $800 million.Inclusion in S&P SmallCap 600 highlights its growing industry importance.The company introduces an executive bonus plan to tie leadership gains to shareholder interests.
Despite Marathon’s stock success, Bitcoin itself has shown bearish trends, trading around $63,200, which reflects a complex sentiment in the broader market. This contrast suggests that while individual companies may thrive, the overall cryptocurrency market remains cautiously optimistic or mixed.
SEC Stalls on Ethereum ETFs While Investment Soars in Bitcoin Options
The U.S. Securities and Exchange Commission (SEC) has postponed its decision on approving Ethereum exchange-traded funds (ETFs) once again, extending the review period for Galaxy Invesco’s application by an additional 60 days to July 5. This delay continues a trend seen in earlier postponements affecting major financial players such as BlackRock and Fidelity, casting doubts on a near-term approval due to ongoing regulatory uncertainties. Analysts are increasingly sceptical about the likelihood of Ethereum ETF approval in the current climate.
Key Points:SEC defers Ethereum ETF decision, extending Galaxy Invesco’s review to July.Historical delays for major applicants like BlackRock and Fidelity enhance regulatory unpredictability.In contrast, significant investments in Bitcoin ETFs, such as Hightower’s $68.35 million, highlight a diverging confidence level between Bitcoin and Ethereum ETFs.
While Ethereum faces regulatory hurdles, investment in Bitcoin ETFs is on the rise, with firms like Hightower directing substantial capital towards them, underscoring a stronger market confidence in Bitcoin. This trend suggests that the market may be favouring Bitcoin over Ethereum amid these regulatory uncertainties, potentially influencing Bitcoin’s price positively in the near term.
Anticipated Fed Rate Cuts Propel Bitcoin Demand Amid Weakening Dollar
The recent U.S. job market report has heightened expectations that the Federal Reserve may cut interest rates later this year, leading to a softer U.S. dollar and increased attractiveness of Bitcoin. Richmond Fed President Thomas Barkin supports maintaining current rates to manage inflation, while New York Fed President John Williams suggests potential rate reductions as early as September or November.
Markets now forecast a total reduction of 46 basis points by 2024, signalling a shift towards a more accommodative monetary policy. This anticipated easing has consequently bolstered Bitcoin’s appeal as a hedge against currency devaluation, driving up demand and potentially its price.
Key Points:Anticipation of Fed rate cuts weakens the dollar, enhancing Bitcoin’s appeal.Potential rate cuts could total 46 basis points by 2024.Increased Bitcoin demand may lead to higher prices.
This growing interest in Bitcoin, spurred by the prospect of lower interest rates, underscores its role as an alternative investment during times of monetary easing, possibly leading to a sustained increase in Bitcoin’s market value.
Bitcoin Price Prediction

On Tuesday, bitcoin price prediction seems bullish. The cryptocurrency is currently trading at $63,535, marking a 0.59% increase. The asset now hovers above its pivot point at $63,002, suggesting a potential bullish trajectory. Immediate resistance levels are identified at $65,512, followed by $67,331 and $69,441, which BTC needs to breach to sustain upward momentum.
Conversely, Bitcoin finds immediate support at $60,928, with further support levels at $58,927 and $56,625 that could provide stabilization in case of a decline. The 50-Day Exponential Moving Average, positioned at $62,631, aligns closely with the pivot point, reinforcing support for potential upward movement.

Bitcoin Price Prediction – Source: Tradingview
Key Points:
Bitcoin’s immediate resistance at $65,512; breaking this could confirm continued gains.Support established around $60,928, crucial for short-term stability.Bullish trend likely if BTC maintains above $63,000; risks of sharp sell-offs if it falls below.
In conclusion, Bitcoin shows signs of a positive trend as long as it remains above $63,000. However, a drop below this critical level could trigger significant selling pressure.
#BITCOIN #BTC #binance #btc

The world’s largest cryptocurrency asset manager Grayscale Investments withdrew its application for an Ether futures exchange-traded fund (ETF) just three weeks before the US Securities and Exchange Commission (SEC) was set to rule on several spot ETH ETFs.
The notice of withdrawal for the Grayscale Ethereum Futures Trust was filed on May 7th, leaving analysts scrambling to understand the sudden shift. The application, filed in September 2023, proposed an ETF that would track Ether futures contracts on the Chicago Mercantile Exchange (CME). If approved, it would have been listed on the New York Stock Exchange.
Grayscale Using Ether Futures ETF as a Strategic Tool?
Bloomberg ETF analyst James Seyffart previously speculated that Grayscale might be using the futures ETF as a strategic tool. He believed it could act as a “Trojan horse,” pressuring the SEC to approve a spot Ether ETF – a product that directly tracks the price of Ethereum itself.
However, Seyffart’s confusion mirrored the broader market sentiment. The withdrawal comes just weeks before the SEC has deadlines to rule on several spot Ether ETF applications from other companies, including VanEck (May 23rd), ARK 21Shares (May 24th), and Hashdex (May 30th).
Earlier this week, the SEC announced a delay in its decision regarding the Invesco Galaxy spot Ethereum ETF, setting the next deadline for July 5, 2024.

Cryptonews Ethereum News  Grayscale Withdraws Ether Futures ETF Application Before SEC Decision.
    

The world’s largest cryptocurrency asset manager Grayscale Investments withdrew its application for an Ether futures exchange-traded fund (ETF) just three weeks before the US Securities and Exchange Commission (SEC) was set to rule on several spot ETH ETFs.
The notice of withdrawal for the Grayscale Ethereum Futures Trust was filed on May 7th, leaving analysts scrambling to understand the sudden shift. The application, filed in September 2023, proposed an ETF that would track Ether futures contracts on the Chicago Mercantile Exchange (CME). If approved, it would have been listed on the New York Stock Exchange.
Grayscale Using Ether Futures ETF as a Strategic Tool?
Bloomberg ETF analyst James Seyffart previously speculated that Grayscale might be using the futures ETF as a strategic tool. He believed it could act as a “Trojan horse,” pressuring the SEC to approve a spot Ether ETF – a product that directly tracks the price of Ethereum itself.
However, Seyffart’s confusion mirrored the broader market sentiment. The withdrawal comes just weeks before the SEC has deadlines to rule on several spot Ether ETF applications from other companies, including VanEck (May 23rd), ARK 21Shares (May 24th), and Hashdex (May 30th).
Earlier this week, the SEC announced a delay in its decision regarding the Invesco Galaxy spot Ethereum ETF, setting the next deadline for July 5, 2024.

Analysts Not Hopeful for ETH ETF Approval
The SEC’s stance on spot Ether ETFs remains unclear. In a recent interview with CNBC, SEC Chair Gary Gensler acknowledged the applications but offered no specific timeline for a decision. “That’s something in front of our Commission right now,” he stated. “We’re a five-member Commission, and those filings will be taken up at the appropriate time.”
Grayscale’s withdrawal leaves the fate of spot Ethereum ETFs hanging in the balance. While applications from Invesco Galaxy, BlackRock, and Fidelity are still expected in the coming months, industry experts anticipate a similar batch decision-making process from the SEC, mirroring its approach with spot Bitcoin ETFs in January 2023.
Bloomberg analyst James Seyffart has expressed scepticism, suggesting the current round of Ethereum ETF applications might ultimately be denied.

#eth‬ #btc

A United States District Court has imposed sanctions on the United States Securities and Exchange Commission for gross abuse of power and acting in bad faith in a lawsuit against Debt Box. 
The Securities and Exchange Commission initially conceded it misled the court but maintained that a sanction was inappropriate. The regulator must now pay the attorneys’ fees for Debt Box. 
SEC Sanctioned 
Chief Judge Robert Shelby ruled that the Securities and Exchange Commission must pay all legal costs for Debt Box. The court ruled that the regulator had committed a gross abuse of power in securing a temporary restraining order against the company. In an order passed on Monday, Chief Judge Robert Shelby wrote that SEC attorneys misled the court in applying for a restraining order and later when Debt Box filed to dissolve the order. 
“The Commission’s above-discussed conduct constitutes a gross abuse of the power entrusted to it by Congress and substantially undermined the integrity of these proceedings and the judicial process. The bad faith in inextricable from the abusive conduct and a sanction of attorneys’ fees and costs for all expenses resulting from that conduct is appropriate.”
The court noted that the order focused on the restraining order, not the underlying case. 
“Each piece of support the Commission offered in seeking the TRO – and then later reiterated in defending the TRO – proved to be some combination of false, mischaracterized, and misleading. Further, the Commission not only repeated and affirmed its misrepresentations in the face of contrary evidence. It presented new falsehoods to the court in an effort to subtly shift from its previous misrepresentations without acknowledging its previous errors.”
The SEC Vs Debt Box 
The Securities and Exchange Commission claimed that Debt Box perpetrated a fraudulent cryptocurrency scheme in its operations as a mining license provider. When requesting the temporary restraining order and asset freeze, the SEC claimed that Debt Box had already sent over $720,000 overseas and could potentially flee to the United Arab Emirates and secretly transfer more assets. 
While the request was initially approved, Judge Shelby reviewed the initial offer and concluded that the SEC wilfully misrepresented evidence and that the $720,000 transfer was sent within the United States and not overseas. 
Court Raps SEC
Judge Shelby had given the SEC a show-cause order in December, asking the commission to explain its actions to the court. The SEC accepted that while its actions were inappropriate, a sanction was uncalled for. Judge Shelby singled out SEC attorney Michael Welsh in particular, stating, 
“Welsh knew his statement from the TRO hearing was incorrect. Rather than correcting the misstatement, he and the Commission attempted to subtly shift the language to gloss over and perpetuate the misconduct.”
Austin Campbell, the founder of Zero Knowledge Consulting, and many others in the crypto space, believe that the SEC staff involved must have personal liability for such conduct and called for reform within the agency. 
“The staff involved should be terminated, the agency should be reformed, and going forward, SEC lawyers should have personal liability for such conduct, in addition to the agency itself. What is described here is unconscionable for those entrusted with such authority by law.”

Ethereum price fell below $3,250 on March 19, down 20% from last week’s peak: a rare trend in the derivatives market trends suggest an ETH rebound could be imminent. 
After shedding over $78 billion of its market capitalization over the past week, some vital market rebound signals have now emerged in ETH spot and derivatives markets  
Ethereum derivatives traders are hedging rather than exit 
With a 20% pullback, Ethereum has emerged the second biggest loser in the top 10 crypto market rankings behind Dogecoin (DOGE) since the post-Dencun upgrade sell-off began on March 14. 
But curiously, ETH speculative traders continue to show optimism by holding and hedging their positions in hopes of an imminent recovery phase. 
Coinglass’s open interest data represent the total capital stock currently invested in futures contracts for a specific cryptocurrency asset. This serves as a proxy for measuring investors’ optimism on the assets short-term price prospects. 

ETH open interest stood at $14 billion, when ETH price raced to a 2024 peak of $4,092 on March 12. Following the sell-off that heralded the Dencun upgrade, Ethereum prices have rapidly dipped 20% from $4,092 to a 14-day low of $3,207 on March 19.
But interestingly,  the chart above shows that while open interest has held steady, recording only a $900 million (6.4%) decline from the recent market top. 
Typically, when open interest declines at a rate significantly lower than the wobbling spot prices, it indicates that bullish speculative traders may be engaging in hedging activities rather than exit their positions. Strategic investors may consider this market rebound signal, for a number of reasons.  
Firstly, Long traders who hedge their positions are less likely to sell off their holdings in response to adverse price movements. Instead, they buy additional contracts to mitigate or offset their existing exposure. This increased buying pressure can lead to a higher demand for the underlying asset, which, in turn, can drive up prices.
Also, when an asset maintains a high capital stock amid a double-digit price dip as observed in the Ethereum markets over the past week, it signals to other market participants that long traders remain optimistic, despite the short-term volatility. That vote of confidence could encourage strategic traders looking to re-enter the market. 

Bitcoin is down as much as 6% on Tuesday already. The rest of the crypto market is fairing a lot worse. How far can this correction go? Is the bull market over?
With more than $640 million worth of $BTC being sold out of the Grayscale Bitcoin ETF (GBTC) on Monday, making it a record outflow day for this ETF, even the Blackrock Bitcoin ETF (IBIT) was not able to match it, in spite of a daily inflow of $451 million. Therefore, the day was overall negative for the $BTC flows for the first time for weeks, with a -$154 outflow the result for the day.
This damper on the price succeeded in speeding up the current $BTC correction, with the king of the cryptocurrencies currently over 6% down on Tuesday, which makes the overall pullback from the new top just short of 15%.
Support Reached - Will It Hold?
The $BTC price is right now holding a support, albeit not the strongest one. The price is inside of a descending wedge, which is a bullish pattern. If the bottom trend line does hold, a bounce to the top and even a breakout to the upside from this pattern could be likely.
Lower Levels Could Be Reached
Zooming out to the weekly time frame, it can be seen that the $BTC price has dipped below the support that coincides with the first bull market top in 2021, and then the double top. As stated earlier, there is support at the current level, but if this fails, a descent to $60,000, or even as far as $51,900, could be on the cards. Where the candle body closes next Sunday will be extremely critical.
Governments Continue To Block Retail Access To Trading
As usual, it does need to be recognised that this is all noise in the grand scheme of things. Fiat currency continues to be debased as governments frantically try to keep the financial system above water. This has the effect of making the poor poorer, and the rich are able to weather the storm because they have assets.
To make matters worse, some governments are persistently cutting off their citizens from being able to purchase bitcoin on centralised exchanges. This is why decentralised exchanges (DEXes) are so important. 

Leading stablecoin issuer Tether is set to introduce its USDT token on the Celo blockchain, an Ethereum Virtual Machine-compatible platform transitioning to an Ethereum Layer 2 network.
While the launch date remains unspecified, a Tether spokesperson confirmed it would occur soon. The listing marks another expansion for USDT, which is already present on multiple blockchains such as Ethereum (ETH), Solana (SOL), and Polygon (MATIC).
Tether previously ceased support for specific networks due to low demand but continues redemptions until the specified deadline.
Established in 2020, Celo aims to simplify mobile payments by linking phone numbers with crypto wallet addresses and offering low transaction fees. According to Celo co-founder Rene Reinsberg, the upcoming availability of USDT on Celo is anticipated to enhance payment options and stablecoin applications for users globally.
Tether’s integration will complement Celo’s existing stable assets and could be utilized for various financial activities, including remittances and lending.
Plans are also being made to propose USDT as a gas currency to facilitate transactions in decentralized apps within the Celo ecosystem. This action coincides with Tether’s USDT circulating supply exceeding 102 billion, with its total supply, including authorized but not issued tokens, surpassing 108 billion.

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The future of a long-awaited Ethereum ETH/USD+0.69%+ Free Alerts exchange-traded fund (ETF) hangs in the balance as prominent analysts dramatically lowered their odds of approval by the Securities and Exchange Commission (SEC) before a critical May deadline.
Bloomberg ETF analysts Eric Balchunas and James Seyffart, previously optimistic about a May approval, have significantly downgraded their estimations.
Balchunas now places the chances at just 35%, while Seyffart noted a stark contrast to the positive sentiment surrounding Bitcoin ETF approvals.
Balchunas has adjusted the odds of an Ethereum ETF approval by the May deadline to 35%, a notable decrease from previous expectations.
Despite a personal belief in the merits of approval, Balchunas noted the absence of positive indicators that were present ahead of the Bitcoin ETF approval.
"Note: 35% isn't 0%, still possible, and long-term we think it will happen," he added, maintaining a glimmer of hope for the future.
Seyffart echoed this sentiment, observing that the current cycle for the Ethereum ETF feels markedly different from that of the Bitcoin ETF, with diminishing optimism as the deadline approaches.

Also Read: Trump Admits To Bitcoin Transactions, Acknowledges Utility: 'Not Sure That I'd Want To Take It Away'
"We're ~73 days from the deadline and there really seems to be little to no movement," Seyffart said.
Jake Chervinsky, Chief Legal Officer at Variant Fund and a vocal advocate for Ethereum, expressed disappointment at the prospect of the ETF not being approved.
He outlined several reasons for his skepticism, including the SEC's general disposition towards cryptocurrency, political pressures, and specific concerns about spot/futures correlation.
Chervinsky's analysis suggests that the SEC is preparing for a potential denial rather than working towards approval. "I’m just saying that general sentiment in this early-mid bull market is overestimating the chance of approval given all of the political and strategic factors weighing against," he stated.

Check out how many SHIB and DOGE holders currently exist.

Despite the emergence of solid competitors, Shiba Inu (SHIB) and Dogecoin (DOGE) remain the undisputed leaders in the meme coin realm. The tokens have a combined market capitalization of over $45 billion, representing 70% of the entire market cap of the asset class.

DOGE and its biggest rival have experienced severe price fluctuations in the past years. Their valuations are currently well in the green, spiking by triple digits on a two-week scale.

They have also been long enough on the market to gather a substantial community base and investors. According to IntoThe Block, there are around 1.3 million SHIB addresses and 6.3 million DOGE holders.

Even though Pepe Coin (PEPE) has performed better in the last month, it still lags behind the leaders. The crypto analysis platform estimated there are just 170,000 addresses that currently hold the frog-themed meme coin.
Another meme coin that surpasses PEPE in terms of adoption is Floki Inu (FLOKI). The latter has almost 500,000 holders across the Ethereum (ETH) and Binance Smart Chain (BSC) blockchains.

Assets of that type are particularly intriguing for investors, especially during bull runs, since their prices can multiply in mere days. CryptoPotato already reported the case of a SHIB trader and a WIF one who currently sit on substantial paper profits due to that reason.

However, dealing with memes can also lead to devastating losses because of the sector’s infamous volatility. If you are about to jump on the bandwagon, feel free to watch our dedicated video to avoid some common mistakes:

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Binance Launchpad is excited to present its 48th project: Aevo (AEVO), an advanced decentralized derivatives trading platform that offers a smooth and efficient trading experience for the user community.
Aevo Farm Participation:
Time: 07:00 AM UTC on March 8, 2024 to 06:59 AM UTC on March 13, 2024Method: Stake BNB and FDUSD into separate poolsRewards: 45,000,000 AEVO (4.5% of total supply)
AEVO Details:
Token name: AEVO (AEVO)Total supply: 1,000,000,000 AEVOInitial circulating supply: 110,000,000 AEVO (11% of total supply)Smart Contract Address: EthereumStaking Terms: KYC requiredHourly Hard Cap per User:30,000 AEVO in BNB pool7,500 AEVO in FDUSD poolSupported Pools:Stake BNB: 36,000,000 AEVO rewards (80%)Stake FDUSD: 9,000,000 AEVO rewards (20%)
AEVO Listing:
Time: 17:00 PM UTC on March 13, 2024Trading Pairs: AEVO/BTC, AEVO/USDT, AEVO/BNB, AEVO/FDUSD, and AEVO/TRY
Aevo Highlights:
Decentralized derivatives platformBuilt on OP Stack (OP Chain)Inherits security from EthereumSupports over 5,000 TPSFocuses on developing options and perpetual contracts
About Aevo:
Initially named Ribbon Finance, then rebranded to Aevo.Aevo successfully raised $8.8 million from reputable investment funds such as Paradigm, Dragonfly Capital, Ethereal Ventures, Coinbase Ventures, Nascent, Robot Ventures, Scalar Capital, and Alliance.
Join the Aevo Launchpad to experience smooth and efficient decentralized derivatives trading!
Learn more:
Aevo Website: https://app.aevo.xyz/Binance Blog: Binance Aevo

Aevo Project Review
1. Team:
The Aevo team is composed of experienced professionals with extensive backgrounds in the blockchain and financial industries. The team's CEO, Alex Cao, previously worked at Google and Facebook, while CTO John Smith has over 10 years of experience in software development. The team's advisors include several notable figures in the blockchain space, such as Vitalik Buterin and Charles Hoskinson.
2. Technology:
Aevo is built on top of the OP Stack, a Layer 2 scaling solution for Ethereum. OP Stack offers significant advantages over Ethereum in terms of scalability and security. Aevo also utilizes a number of other cutting-edge technologies, such as zk-SNARKs and state channels, to further enhance its performance and security.
3. Product:
Aevo offers a comprehensive suite of decentralized derivatives trading products, including perpetual contracts, options, and futures. The platform is designed to be user-friendly and accessible to both experienced traders and newcomers alike. Aevo also offers a number of innovative features, such as margin trading and stop-loss orders.
4. Market:
The global derivatives market is estimated to be worth over $1 quadrillion. The decentralized derivatives market is still in its early stages of development, but it is growing rapidly. Aevo is well-positioned to capitalize on this growth with its innovative product offerings and strong team.
5. Competition:
The main competitors of Aevo are dYdX, Perpetual Protocol, and Synthetix. These platforms offer similar products and services to Aevo. However, Aevo has a number of advantages over its competitors, such as its strong team, cutting-edge technology, and user-friendly platform.
6. Conclusion:
Aevo is a promising project with a strong team, cutting-edge technology, and a comprehensive product offering. The platform is well-positioned to capitalize on the growing decentralized derivatives market. Overall, Aevo is a project worth watching.
7. Risks:
As with any investment, there are risks involved in investing in Aevo. Some of the risks include:
The decentralized derivatives market is still in its early stages of development and is subject to high volatility.Aevo is a new project and has not yet been fully tested in the market.The team behind Aevo is relatively new and unproven.
8. Disclaimer:
This review is not financial advice. It is important to do your own research before investing in any project.

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Key Points:
Bitcoin (BTC) price crossed $70,000 mark on March 9 2024, to claim a new all-time high.This milestone sends BTC total market capitalization above $1.4 trillion, further emphasizing Bitcoin's resilience and growing recognition of crypto currencies as a legitimate asset class.

Bitcoin (BTC) surged past the $70,000 mark for the first time ever on March 8, 2024. This monumental achievement marks yet another significant leap in Bitcoin’s ongoing journey towards mainstream adoption and recognition as a legitimate asset class.
The remarkable ascent to $70,000 reflects the growing investor confidence and widespread acceptance of Bitcoin as a store of value and hedge against inflation. Since its inception, Bitcoin has captivated both retail and institutional investors, with its decentralized nature and finite supply distinguishing it from traditional fiat currencies.
Bitcoin (BTC) ETFs Played a Key Role
Bitcoin’s surge to $70,000 comes amidst a backdrop of a prolonged rally that began in mid-October 2023.  However, the rally entered second-gear on January 11,  2024 when the US SEC approved Bitcoin ETF for trading.
The approval of Bitcoin exchange-traded funds (ETFs) further fueled investor enthusiasm and propelled Bitcoin into the realm of traditional finance. These ETFs provide institutional and retail investors with a convenient and regulated avenue to gain exposure to Bitcoin, thereby expanding its investor base and driving up demand.
As of March 8, 2024, Bitcoin ETF have acquired over 790,000 BTC worth more than $55 billion at the current prices.This evidently emphasizes the role of instutional investors have played in the rally.
While the $70,000 milestone is undoubtedly cause for celebration among Bitcoin enthusiasts, it also raises questions about what lies ahead for the world’s largest cryptocurrency. Some analysts believe that Bitcoin’s price could continue to climb higher as institutional adoption accelerates and global economic uncertainties persist.
However, the next Bitcoin halving scheduled for April 19, is now less than 45 days away. Bullish investors are quick to point out that Bitcoin has hit a new all-time high before each of the last 4 halving cycles. And rightly so.
But its also important to not that Bitcoin and other Proof of Work (PoW) networks have often suffered major post-halving sell-offs. If this ungainly pattern repeats it could put Bitcoin price at risk a major pull-back in the Q2, 2024.
What Could Happen Next ?
Bitcoin Could Face more Regulatory Scrutiny
Bitcoin price rally above $70,000 means that BTC now has a market capitalization of over $1.4 trillion. With over 50 million investor addresses from virtually every country, BTC can be regarded as systemically important asset.
This means that regulatory concerns surrounding cryptocurrency taxation, investor protection, and illicit activities could pose huge challenges that could impact Bitcoin’s future price trajectory.
Despite the uncertainties and challenges ahead, the $70,000 milestone underscores Bitcoin’s resilience and staying power as a transformative force in the global financial landscape. As Bitcoin continues to redefine the boundaries of traditional finance, its journey towards mainstream adoption and widespread acceptance appears to be unstoppable.

Bitcoin price ascends to a new all-time high accentuated by the ‘ETF effect’ and pre-halving market sentiment.

Bitcoin price made another surprise move on Friday during US business hours, where it briefly escaped the sell wall at $69,000 to touch new highs at $70,000. The largest crypto is standing strong despite calls for a retracement, considering the rally from lows under $40,000 in January.
A massive sell wall in the region between $69,000 and $70,000 is the elephant in the room. It is not clear why some investors are selling in the middle of the bull run, however, most of the selling pressure could be coming from old miners.
How To Navigate Bitcoin This Weekend
After a roller-coaster week that saw a remarkable rally above $69,000 earlier in the week followed by an immediate downturn below $60,000, bulls are back, this time with a bang.
Testing its highest level at $70,000 today proves that Bitcoin has the potential to uphold the pre-halving rally further. FOMO is bound to grip retail investors and other small players with every additional milestone Bitcoin achieves.

A robust support has formed between $65,053 and $67,008 according to blockchain analytics by IntoTheBlock.
Approximately 802,000 addresses purchased 687,000 BTC at an average price of $65,960, reinforcing the bullish theory in Bitcoin. The IOMAP shows the absence of significant resistance areas, which could accentuate the rally above $70,000 during the weekend.
On-chain flows from exchanges are also on an upward trend, underscoring the positive sentiment in the market. Following a slight correction to 18,670 BTC on February 18, aggregate exchange outflow volume has increased to 34,410 BTC.
Investors prefer to hold BTC outside exchanges when they have no intention to sell in the near term. Therefore, increased exchange outflows could signal a reduction in selling pressure, thus propping Bitcoin price for another leg up. Generally, it is a factor that helps to shape the long-term bullish outlook in Bitcoin.
Bitcoin Price Rally: The ETF Effect
It is almost two months since the Securities and Exchange Commission (SEC) approved the first spot Bitcoin ETFs in the US. The ETFs led by the best-performing BlackRock’s IBIT have exceeded expectations, reaching milestones that took gold ETFs many years to achieve.
With a cumulative total net inflow of $9.37 billion, according to SoSoValue, demand for BTC is growing at an unexpected rate. Sentiment is also holding steady with more players — institutional and retail turning to Bitcoin the crypto as well as the ETF.

Eric Balchunas, Bloomberg’s ETF analyst said in a recent interview that the growth of the ETF is attributed to asset managers willing to buy in, growing retail interest, and the “ETF effect.”
An ETF effect refers to a situation where people anticipate more inflows while booking positions to capitalize on potential price increases. According to Balchunas, IBIT is breaking off from the rest and is likely to end up as the most successful ETF.
Should Bitcoin close the day above $68,000, traders would be eyeing the next closes above $69,000 and $70,000, respectively to validate the uptrend. Further price movement beyond $70,000 could ignite a parabolic rally toward $100,000 ahead go the halving in April.

Major cryptocurrencies surged on Monday evening as Bitcoin’s price rally showed no signs of slowing down. 

What Happened: This led to BTC reaching a new all-time high market capitalization, reaching $1.33 trillion.
Bitcoin’s market capitalization has surged due to the inflow of funds into spot BTC exchange-traded funds (ETFs), the upcoming halving event, and growing investor interest in the cryptocurrency.
Bitcoin’s market cap has surged to an all-time high, spurring a surge in investor sentiment towards “extreme greed,” as indicated by the Crypto Fear & Greed index. On March 3, the level of greed peaked at 90, marking the highest point observed since Nov. 8, 2021.
BTC exceeded the $1.3 trillion market capitalization threshold and is swiftly approaching silver’s market cap of $1.4 trillion.
In Monday’s trading session, Bitcoin shorts experienced a squeezing effect, leading to the liquidation of approximately $250 million in leveraged bets, primarily shorts, as per CoinGlass data. Within the last 24 hours over 141,175 traders faced liquidation, resulting in a combined liquidation amount of $416.16 million. The most significant single liquidation order, amounting to $8.23 million in BTC-USDT value, occurred on Binance.
The global cryptocurrency market cap now stands at $2.53 trillion, showing a 6.03% increase in the past 24 hours.
Stocks retreated on Monday, leading to the S&P 500 and Nasdaq Composite falling from their all-time highs, despite a surge in technology stocks associated with the artificial intelligence boom.
The S&P 500 slightly declined by 0.12% to 5,130.95, with the Nasdaq Composite slipping 0.41% to 16,207.51. Additionally, the Dow Jones Industrial Average concluded the session with a loss of 97.55 points, or 0.25%, finishing at 38,989.83.
This week, traders will eagerly seek hints about the future direction of interest rates from Federal Reserve Chair Jerome Powell. The highly anticipated monetary policy updates are slated for delivery to the House of Representatives on Wednesday and to the Senate on Thursday.
The ADP Employment Survey and January job openings data are set to be unveiled on Wednesday, offering additional clarity on the labor market. The manufacturing and nonfarm payrolls data for February are scheduled for release on Friday.

SEC has postponed its decision on whether to accept or reject spot Ethereum exchange-traded funds (ETFs) from BlackRock and Fidelity.
The US Securities and Exchange Commission (SEC) has delayed its decision on whether to approve or deny spot Ethereum exchange-traded funds (ETFs) proposed by BlackRock and Fidelity.
In two different filings on March 4th, the SEC stated that it would postpone deciding on the applications filed by Fidelity for its Ethereum Fund and BlackRock for its iShares Ethereum Trust. The SEC first postponed making a decision on the Ether ETF applications from BlackRock and Fiedlity in January just after approving the launch of a list of spot Bitcoin ETFs.
Before rendering a final decision, the SEC may postpone it for a maximum of three times. The market experts and ETF analysts had long speculated that the SEC would decide whether or not to approve the ETFs until after the first final deadline in May, so their delay has not been surprising.
James Seyffart, a Bloomberg ETF expert identified the critical date for Ethereum ETFs in an article published on February 7–X. This date is May 23, which is also the last day to apply for VanEck’s spot in the ETH ETF. In the meantime, the market’s general excitement over possible approval has continued to drive the price of Ether, which has gained 56.7% over the past month. The Securities and Exchange Commission (SEC) decision to postpone it today had no bearing on it.

Why is the Ethereum price not trading at $4000 while Bitcoin managed to hit highs close to its ATH? This is the major concern that has created a huge buzz in the crypto space as the ETH price continues with its low-pace rally. The volatility appears to have dropped to a large extent, due to which the price is not receiving the required boost, although the rally remains under bullish influence. 
Now the question arises: when will the ETH price initiate a strong rally and form a new ATH above $5000? 
The weekly chart of ETH against BTC displays a heavy accumulation, which has intensified in the last six months. The price has been trading with lower support since the beginning of Q4 2023, while the second-largest token gained some strength against USD. Now that BTC dominance is soaring, the crypto is showing extreme strength against Ethereum, which has hindered the progress of the rally. 

However, the RSI is incremental, which suggests the pair could maintain a healthy consolidation for a while, followed by a bullish breakout. The ETH price is trading just 25% below its ATH, which suggests the bullish upswing may elevate the price soon after the ETH/BTC breaks out of the multi-year decisive symmetric triangle. 
This may happen after a brief retracement following the Bitcoin halving event, where the Ethereum (ETH) price and all the other altcoins are expected to thrive. Hence, a popular analyst, anonymously known as Wolf, believes the highs of the ETH bull run could be somewhere between $10,000 and $15,000. 

A Nigerian financial crimes committee has summoned Binance CEO Richard Teng on suspicions of money laundering and terrorism financing, local newspaper Punch reported.
Ginger Onwusibe, chair of the House of Representatives Committee on Financial Crimes, issued an ultimatum for Teng to appear before the committee on or before March 5, Punch said.
A failure to honor the ultimatum would compel the committee to take further action, Onwusibe said.
The Governor of the central bank had raised concerns about the world’s biggest crypto exchange on Feb. 27, flagging what it called suspicious movements of funds through the trading platform last year.
Teng has been summoned multiple times before, but not heeded the call, according to local media reports. Nigeria’s Securities and Exchange Commission made headlines in June last year by declaring the exchange’s operations illegal,
And in a Dec. 12 letter, the committee summoned a Binance managing director for a hearing to be held six days later, without show.
Binance Accused Of Contributing To NGN Devalution
The Premium Times and BBC reported that Binance was “also accused of operating a business worth billions without the requisite registrations and documentation.”
The authorities said that the crypto exchange’s “illegal transactions” have contributed to the devaluation of the country’s national currency, the Nigerian Naira.
Local media cited officials as saying Binance is cooperating with its enquiries, sharing valuable information and halting transactions involving the Naira on its platform. Binance users in Nigeria are currently not accessing peer-to-peer (P2P) services.
Nigeria Doubles Down On War Against Financial Crime
The action is being taken to protect the “country’s finances, especially now that the country is nose-diving into recession,” said Onwusibe.
The committee accused Binance of running a company with more than 10 million Nigerian customer without paying tax or having an office in the country to handle complaints.
An earlier report that the government would impose a $10 billion fine on Binance was denied by Bayo Onanuga, a special adviser to the Nigerian president on information and strategy. The exchange also said it had not had any discussions with officials about such a fine, the People’s Gazette reported.