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💎 WORLD'S LARGEST BANK LOVES BITCOIN AND ETHEREUM💎
The Industrial and Commercial Bank of China (ICBC), the world’s largest bank by total assets, recently published a report comparing Bitcoin to digital gold and Ethereum to digital oil.
ICBC, which holds $6.6 trillion in total assets as of March, released an equity research report on June 6, providing a macroeconomic analysis of the digital asset ecosystem. The bank’s analysts highlighted Bitcoin's and Ethereum's unique roles:
Bitcoin as Digital Gold: Bitcoin is likened to gold due to its scarcity and consensus-driven value. The analysts noted:
Scarcity and Value: Bitcoin retains gold-like scarcity through mathematical consensus.
Advantages: Unlike gold, Bitcoin is easily divisible, verifiable, and portable.
Evolving Attributes: While Bitcoin's monetary attributes may be weakening, its asset attributes are strengthening, making it a robust digital asset.
Ethereum as Digital Oil: Ethereum is described as "digital oil" due to its foundational role in the digital economy. The analysts emphasized:
Technological Upgrades: Ethereum continuously improves its security, scalability, and sustainability, powering the digital future.
Smart Contracts and DeFi: Ethereum's programming language (Solidity) and virtual machine (EVM) enable complex smart contracts and decentralized applications, crucial for decentralized finance (DeFi) and non-fungible tokens (NFTs).
👇 What are your thoughts on ICBC’s view of Bitcoin and Ethereum?
Like, share, comment, and follow for more insights!
#Bitcoin #ethereum #china
$BNB $BTC $ETH
The Industrial and Commercial Bank of China (ICBC), the world’s largest bank by total assets, recently published a report comparing Bitcoin to digital gold and Ethereum to digital oil.
ICBC, which holds $6.6 trillion in total assets as of March, released an equity research report on June 6, providing a macroeconomic analysis of the digital asset ecosystem. The bank’s analysts highlighted Bitcoin's and Ethereum's unique roles:
Bitcoin as Digital Gold: Bitcoin is likened to gold due to its scarcity and consensus-driven value. The analysts noted:
Scarcity and Value: Bitcoin retains gold-like scarcity through mathematical consensus.
Advantages: Unlike gold, Bitcoin is easily divisible, verifiable, and portable.
Evolving Attributes: While Bitcoin's monetary attributes may be weakening, its asset attributes are strengthening, making it a robust digital asset.
Ethereum as Digital Oil: Ethereum is described as "digital oil" due to its foundational role in the digital economy. The analysts emphasized:
Technological Upgrades: Ethereum continuously improves its security, scalability, and sustainability, powering the digital future.
Smart Contracts and DeFi: Ethereum's programming language (Solidity) and virtual machine (EVM) enable complex smart contracts and decentralized applications, crucial for decentralized finance (DeFi) and non-fungible tokens (NFTs).
👇 What are your thoughts on ICBC’s view of Bitcoin and Ethereum?
Like, share, comment, and follow for more insights!
#Bitcoin #ethereum #china
$BNB $BTC $ETH
📈 SEC ACCEPTS PROSHARES SPOT ETHEREUM ETF ENTRY 📈
On June 10, the U.S. Securities and Exchange Commission (SEC) acknowledged a proposed rule change for ProShares' spot Ethereum ETF and approved Ark Invest’s exit from the 21Shares application.
📊 ProShares Ethereum ETF Update:
The SEC's notice regarding ProShares recognizes, but does not yet approve, the proposed rule change. The SEC has a 45-day window to act on the proposal, with an option to extend the decision period to 90 days. By the end of this period, the SEC must approve, disapprove, or initiate additional proceedings.
💬 Analyst Insight:
Bloomberg ETF analyst James Seyffart commented on the timing: “Instinct initially says this [won’t] launch on day 1 with the other ETFs whenever that is but who knows.” NYSE Arca plans to list and trade shares of ProShares’ fund.
🔄 21Shares Continues Without Ark:
The SEC affirmed that 21Shares' proposed fund could proceed without Ark Invest. The agency waived its usual 30-day operative delay, making the change effective immediately.
Ark and 21Shares announced their split on May 31. Ark stated to Bloomberg ETF analyst Erich Balchunas that it “will not be moving forward” with an Ethereum ETF but remains involved in the spot Bitcoin ETF ARKB.
⏳ Timeline for Spot ETH ETFs:
While the SEC approved rule changes for eight spot ETH ETFs on May 23, it has yet to approve applicants’ S-1 registration statements. As a result, these products have not launched for trading, and no definite launch date has been set.
🌟 Market Expectations:
Analysts have varying expectations for the launch dates of these spot Ethereum ETFs. Balchunas predicts a launch by the end of June, with an “over-under” date of July 4, while JP Morgan anticipates the funds will begin trading by November.
👇 What are your thoughts on the SEC's decisions?
Like, share, comment, and follow for more updates!
Your Matthias Mende
#EthereumETF #SEC #bitcoin #etf #ethereum
$BTC $ETH $SOL
On June 10, the U.S. Securities and Exchange Commission (SEC) acknowledged a proposed rule change for ProShares' spot Ethereum ETF and approved Ark Invest’s exit from the 21Shares application.
📊 ProShares Ethereum ETF Update:
The SEC's notice regarding ProShares recognizes, but does not yet approve, the proposed rule change. The SEC has a 45-day window to act on the proposal, with an option to extend the decision period to 90 days. By the end of this period, the SEC must approve, disapprove, or initiate additional proceedings.
💬 Analyst Insight:
Bloomberg ETF analyst James Seyffart commented on the timing: “Instinct initially says this [won’t] launch on day 1 with the other ETFs whenever that is but who knows.” NYSE Arca plans to list and trade shares of ProShares’ fund.
🔄 21Shares Continues Without Ark:
The SEC affirmed that 21Shares' proposed fund could proceed without Ark Invest. The agency waived its usual 30-day operative delay, making the change effective immediately.
Ark and 21Shares announced their split on May 31. Ark stated to Bloomberg ETF analyst Erich Balchunas that it “will not be moving forward” with an Ethereum ETF but remains involved in the spot Bitcoin ETF ARKB.
⏳ Timeline for Spot ETH ETFs:
While the SEC approved rule changes for eight spot ETH ETFs on May 23, it has yet to approve applicants’ S-1 registration statements. As a result, these products have not launched for trading, and no definite launch date has been set.
🌟 Market Expectations:
Analysts have varying expectations for the launch dates of these spot Ethereum ETFs. Balchunas predicts a launch by the end of June, with an “over-under” date of July 4, while JP Morgan anticipates the funds will begin trading by November.
👇 What are your thoughts on the SEC's decisions?
Like, share, comment, and follow for more updates!
Your Matthias Mende
#EthereumETF #SEC #bitcoin #etf #ethereum
$BTC $ETH $SOL
ICBC Report: Bitcoin is 'Digital Gold', Ethereum is 'Digital Oil' 🪙🛢️👀
In a recent report, the Industrial and Commercial Bank of China (ICBC) – the world's leading bank – has placed Bitcoin and Ethereum at the forefront of digital assets, referring to them as "Digital Gold" and "Digital Oil" respectively.
🔹Why 'Digital Gold'?
ICBC likens Bitcoin to gold due to its scarcity and the intricate mathematical process behind its creation. While acknowledging Bitcoin's diminishing use as a currency, the report emphasizes its growing value as a store of wealth. Advantages over physical gold include its divisibility, verifiable authenticity, and ease of transfer.
🔹Why 'Digital Oil'?
Ethereum is crowned "Digital Oil" for its role in fueling the digital economy. Its strengths lie in security, scalability, and sustainability. The flexible architecture, powered by the Solidity programming language and the Ethereum Virtual Machine, enables a wide range of applications. Despite current hurdles, Ethereum's potential in infrastructure projects, beyond DeFi and NFTs, is highlighted, with ICBC anticipating further technological progress.
🔹Market Demand Fuels Digital Asset Innovation
The report emphasizes a clear market demand for ongoing innovation in the digital asset space, with both Bitcoin and Ethereum establishing themselves as foundational elements. The current market shows Bitcoin trading at $66,450, a 5% decrease in the past 24 hours, while Ethereum is at $3,500, down over 6% for the day.
The ICBC report signals a significant recognition of Bitcoin and Ethereum's importance in the global financial landscape. It remains to be seen how this report will influence future developments and investments in the digital asset space.
#bitcoin #BTC #ETH #ethereum #ICBC
In a recent report, the Industrial and Commercial Bank of China (ICBC) – the world's leading bank – has placed Bitcoin and Ethereum at the forefront of digital assets, referring to them as "Digital Gold" and "Digital Oil" respectively.
🔹Why 'Digital Gold'?
ICBC likens Bitcoin to gold due to its scarcity and the intricate mathematical process behind its creation. While acknowledging Bitcoin's diminishing use as a currency, the report emphasizes its growing value as a store of wealth. Advantages over physical gold include its divisibility, verifiable authenticity, and ease of transfer.
🔹Why 'Digital Oil'?
Ethereum is crowned "Digital Oil" for its role in fueling the digital economy. Its strengths lie in security, scalability, and sustainability. The flexible architecture, powered by the Solidity programming language and the Ethereum Virtual Machine, enables a wide range of applications. Despite current hurdles, Ethereum's potential in infrastructure projects, beyond DeFi and NFTs, is highlighted, with ICBC anticipating further technological progress.
🔹Market Demand Fuels Digital Asset Innovation
The report emphasizes a clear market demand for ongoing innovation in the digital asset space, with both Bitcoin and Ethereum establishing themselves as foundational elements. The current market shows Bitcoin trading at $66,450, a 5% decrease in the past 24 hours, while Ethereum is at $3,500, down over 6% for the day.
The ICBC report signals a significant recognition of Bitcoin and Ethereum's importance in the global financial landscape. It remains to be seen how this report will influence future developments and investments in the digital asset space.
#bitcoin #BTC #ETH #ethereum #ICBC
Ethereum $ETH / USDT Technical indicators- June 10, 2024
The technical indicators for Ethereum $ETH against USDT presents a mixed outlook, balancing between positive and negative signals across various indicators.
Technical Indicators
The summary of technical indicators points to a strong sell sentiment, with one indicator suggesting a buy, two neutral, and seven indicating a sell. The Relative Strength Index (RSI) stands at 54.388, which is neutral. The Stochastic Oscillator (STOCH) at 45.106 also indicates a neutral stance, while the Stochastic RSI at 3.051 suggests an oversold condition. The Moving Average Convergence Divergence (MACD) at 102.52 signals a buy, contrasting with other indicators like the Average Directional Index (ADX) at 36.513, the Williams %R at -74.15, and the Commodity Channel Index (CCI) at -145.9226, all pointing towards a negative trend. The Rate of Change (ROC) at -5.212 and the Bull/Bear Power at -53.79 further support this bearish sentiment.
Moving Averages
Moving averages present a more optimistic picture, with seven buy signals against five sell signals. The short-term moving averages (MA5 and MA10) are in the sell category, whereas the mid to long-term averages (MA20, MA50, MA100, and MA200) lean towards a buy signal. This suggests that while there might be short-term bearish pressures, the longer-term outlook remains positive.
Pivot Points
Pivot point analysis provides key levels to watch. The pivot point is at 3697.93, with support levels at 3626.26, 3647.36, and 3676.84. Resistance levels are noted at 3727.41, 3748.5, and 3777.98. These levels can be critical in determining potential price movements and market sentiment.
In conclusion, Ethereum ETH / USDT shows a blend of bullish and bearish signals, with technical indicators leaning towards a negative outlook and moving averages indicating potential long-term strength. #ethereum
The technical indicators for Ethereum $ETH against USDT presents a mixed outlook, balancing between positive and negative signals across various indicators.
Technical Indicators
The summary of technical indicators points to a strong sell sentiment, with one indicator suggesting a buy, two neutral, and seven indicating a sell. The Relative Strength Index (RSI) stands at 54.388, which is neutral. The Stochastic Oscillator (STOCH) at 45.106 also indicates a neutral stance, while the Stochastic RSI at 3.051 suggests an oversold condition. The Moving Average Convergence Divergence (MACD) at 102.52 signals a buy, contrasting with other indicators like the Average Directional Index (ADX) at 36.513, the Williams %R at -74.15, and the Commodity Channel Index (CCI) at -145.9226, all pointing towards a negative trend. The Rate of Change (ROC) at -5.212 and the Bull/Bear Power at -53.79 further support this bearish sentiment.
Moving Averages
Moving averages present a more optimistic picture, with seven buy signals against five sell signals. The short-term moving averages (MA5 and MA10) are in the sell category, whereas the mid to long-term averages (MA20, MA50, MA100, and MA200) lean towards a buy signal. This suggests that while there might be short-term bearish pressures, the longer-term outlook remains positive.
Pivot Points
Pivot point analysis provides key levels to watch. The pivot point is at 3697.93, with support levels at 3626.26, 3647.36, and 3676.84. Resistance levels are noted at 3727.41, 3748.5, and 3777.98. These levels can be critical in determining potential price movements and market sentiment.
In conclusion, Ethereum ETH / USDT shows a blend of bullish and bearish signals, with technical indicators leaning towards a negative outlook and moving averages indicating potential long-term strength. #ethereum
Cryptocurrency Market Update: Mixed Signals and Notable Movements
#Binance200M
The cryptocurrency market has recently presented a tapestry of mixed signals, marked by significant movements across various assets. Here’s a closer look at the latest trends and developments:
Bitcoin’s Breakthrough and Consolidation Bitcoin made headlines by breaking through the $70,000 barrier, a milestone that led to $27.75 million in liquidations. However, after facing resistance, it has since consolidated around $67,739. This recent price action highlights the ongoing volatility and the challenges Bitcoin faces in maintaining new highs.
Ethereum's Strong Upward Trend Ethereum has also been on a bullish trajectory, reaching $3,908. The approval of Ethereum ETFs has significantly boosted the market, leading to a record high in futures open interest. This indicates growing investor confidence and the potential for further gains in the near future.
#bitcoin #ethereum
#Binance200M
The cryptocurrency market has recently presented a tapestry of mixed signals, marked by significant movements across various assets. Here’s a closer look at the latest trends and developments:
Bitcoin’s Breakthrough and Consolidation Bitcoin made headlines by breaking through the $70,000 barrier, a milestone that led to $27.75 million in liquidations. However, after facing resistance, it has since consolidated around $67,739. This recent price action highlights the ongoing volatility and the challenges Bitcoin faces in maintaining new highs.
Ethereum's Strong Upward Trend Ethereum has also been on a bullish trajectory, reaching $3,908. The approval of Ethereum ETFs has significantly boosted the market, leading to a record high in futures open interest. This indicates growing investor confidence and the potential for further gains in the near future.
#bitcoin #ethereum
#ETHETFsApproved Ethereum Lower Limit
ETH could go as low as 3320, after that if it does not recover to 3570 then we are going down back again, very deep down.
No specific big buys seen yet, weekend might be the reason.
$ETH
#ethereum #eth
ETH could go as low as 3320, after that if it does not recover to 3570 then we are going down back again, very deep down.
No specific big buys seen yet, weekend might be the reason.
$ETH
#ethereum #eth
Solana Surpasses Ethereum
In a remarkable turn of events, Solana has outperformed both Ethereum and BNB Chain combined in 24-hour decentralized exchange (DEX) volume. According to recent data, Solana recorded a 24-hour DEX volume of $2.888 billion, significantly higher than its closest competitors.
Solana's 24-Hour DEX Volume: $2.888 billionEthereum's 24-Hour DEX Volume: $1.854 billionBNB Chain's 24-Hour DEX Volume: $777.32 millionBase's 24-Hour DEX Volume: $695.85 millionArbitrum's 24-Hour DEX Volume: $560.09 million
Solana's exceptional performance underscores its growing dominance in the decentralized finance (DeFi) space. The blockchain's ability to handle a high volume of transactions efficiently has contributed to its increasing popularity among users and developers alike.
This achievement highlights Solana's potential to continue leading the DeFi sector, offering a scalable and robust platform for various decentralized applications. As the competition in the DeFi space intensifies, Solana's latest milestone sets a new benchmark for other blockchain networks.
#solana #bnb #ethereum $SOL $BNB $ETH
Solana's 24-Hour DEX Volume: $2.888 billionEthereum's 24-Hour DEX Volume: $1.854 billionBNB Chain's 24-Hour DEX Volume: $777.32 millionBase's 24-Hour DEX Volume: $695.85 millionArbitrum's 24-Hour DEX Volume: $560.09 million
Solana's exceptional performance underscores its growing dominance in the decentralized finance (DeFi) space. The blockchain's ability to handle a high volume of transactions efficiently has contributed to its increasing popularity among users and developers alike.
This achievement highlights Solana's potential to continue leading the DeFi sector, offering a scalable and robust platform for various decentralized applications. As the competition in the DeFi space intensifies, Solana's latest milestone sets a new benchmark for other blockchain networks.
#solana #bnb #ethereum $SOL $BNB $ETH
$ETH / $BTC 1M chart
I know many have been promissing a comming #altcoin season, but I see it differently. I also know this will hurt many feelings, but this is just my point of view.
Doesn't necessarily mean that the altcoin market will dump massivly but #bitcoin☀️ still has space to outperform #ethereum .
I know many have been promissing a comming #altcoin season, but I see it differently. I also know this will hurt many feelings, but this is just my point of view.
Doesn't necessarily mean that the altcoin market will dump massivly but #bitcoin☀️ still has space to outperform #ethereum .
#trade #bitcoin☀️ #ethereum #Bitcoin❗
coin
#ETHETFsApproved $BTC $ETH $BNB
i will take Bitcoins,ethereum,usdt or any coins in high rates than binance
also if u want inr in exchange of Bitcoin, ethereum, usdt ,or any coins contact me
contact me insta id : pvtta_00
or telegram username : @Op098123P
coin
#ETHETFsApproved $BTC $ETH $BNB
i will take Bitcoins,ethereum,usdt or any coins in high rates than binance
also if u want inr in exchange of Bitcoin, ethereum, usdt ,or any coins contact me
contact me insta id : pvtta_00
or telegram username : @Op098123P
Here are some predictions for what could happen to Ethereum $ETH
in the future :
• By the end of 2024, ETH could touch $5,000.
• By the end of 2025, Ethereum is expected to reach a maximum of $6,500 with a minimum of $4,500.
• By the year 2030, it may go up to a maximum of $20,500.
Some experts envision ETH reaching a valuation of $40,000 by 2030.
Ethereum holds a bright future as it is not just a transactional currency but eventually, it is on the path of establishing itself as a “store of value” for those entities which are looking to optimize their wealth. #StartInvestingInCrypto #ethereum #EarnFreeCrypto2024 #Write2Earn!
in the future :
• By the end of 2024, ETH could touch $5,000.
• By the end of 2025, Ethereum is expected to reach a maximum of $6,500 with a minimum of $4,500.
• By the year 2030, it may go up to a maximum of $20,500.
Some experts envision ETH reaching a valuation of $40,000 by 2030.
Ethereum holds a bright future as it is not just a transactional currency but eventually, it is on the path of establishing itself as a “store of value” for those entities which are looking to optimize their wealth. #StartInvestingInCrypto #ethereum #EarnFreeCrypto2024 #Write2Earn!
#Write2earn
VanEck Predicts Ether (ETH) to Surge to $22,000 by 2030
#VanEck #ETH #ETHER #ethereum $ETH
VanEck, a global investment firm, has set a new price target for Ether (ETH), projecting it to reach $22,000 by 2030. This ambitious forecast marks a significant rise from its current level of around $3,850.
According to VanEck, Ethereum’s disruptive potential across various sectors and substantial cash flows generated for token holders will drive this increase. The firm highlights that Ethereum is revolutionizing finance, banking, payments, marketing, advertising, social media, gaming, infrastructure, and artificial intelligence.
A key factor in this prediction is the anticipated approval of Ether exchange-traded funds (ETFs). VanEck expects these ETFs to surpass the size of Bitcoin ETFs, providing financial advisors and institutional investors a secure way to invest in Ether through qualified custodians, while benefiting from the pricing and liquidity advantages characteristic of ETFs.
VanEck's report emphasizes Ethereum's ability to offer lower costs, increased efficiency, and greater transparency. This disruptive power is expected to shift significant market share from traditional financial and tech institutions, which have a combined total available market (TAM) of $15 trillion, to blockchain-based solutions.
Moreover, VanEck predicts that the free cash flows from holding Ether, derived from revenue, will reach $66 billion by 2030, further supporting the valuation.
Ether has already seen a strong performance, up more than 63% year-to-date, indicating positive momentum towards achieving this target.
VanEck Predicts Ether (ETH) to Surge to $22,000 by 2030
#VanEck #ETH #ETHER #ethereum $ETH
VanEck, a global investment firm, has set a new price target for Ether (ETH), projecting it to reach $22,000 by 2030. This ambitious forecast marks a significant rise from its current level of around $3,850.
According to VanEck, Ethereum’s disruptive potential across various sectors and substantial cash flows generated for token holders will drive this increase. The firm highlights that Ethereum is revolutionizing finance, banking, payments, marketing, advertising, social media, gaming, infrastructure, and artificial intelligence.
A key factor in this prediction is the anticipated approval of Ether exchange-traded funds (ETFs). VanEck expects these ETFs to surpass the size of Bitcoin ETFs, providing financial advisors and institutional investors a secure way to invest in Ether through qualified custodians, while benefiting from the pricing and liquidity advantages characteristic of ETFs.
VanEck's report emphasizes Ethereum's ability to offer lower costs, increased efficiency, and greater transparency. This disruptive power is expected to shift significant market share from traditional financial and tech institutions, which have a combined total available market (TAM) of $15 trillion, to blockchain-based solutions.
Moreover, VanEck predicts that the free cash flows from holding Ether, derived from revenue, will reach $66 billion by 2030, further supporting the valuation.
Ether has already seen a strong performance, up more than 63% year-to-date, indicating positive momentum towards achieving this target.
