The post Top Crypto News This Week: The Latest Trends in Crypto and Blockchain | Weekly Crypto Review appeared first on Coinpedia Fintech News

This analysis report, backed by quality data, covers the major developments the Web3, Blockchain and Crypto sector has experienced this week. 

1. Breaking News This Week 

SEC Lawyers Resign Amid Sanctions Over Crypto Fund Case 

Two SEC lawyers resigned after a federal judge sanctioned the agency for false statements in a $49 million crypto fraud case against Digital Licensing Inc. The lawyers faced termination if they stayed on.

BlackRock’s IBIT Fund Achieves 70-Day Daily Inflow Streak 

BlackRock’s IBIT fund joined the top ten longest daily inflow streaks among U.S. exchange-traded funds with a 70-day milestone. The record ties with JETS, an ETF focusing on the airline industry.

Scammers Abandon Solana Meme Coin Projects After Massive Profits 

Twelve Solana presale meme coin projects were abandoned, scamming investors out of $26.7 million. The abandoned projects took advantage of the meme coin frenzy and increased risk tolerance driven by FOMO.

Shiba Inu Raises $12 Million for Blockchain Security and Expansion 

Shiba Inu secured $12 million from non-US investors, including Animoca Brands and Polygon Ventures, to fund blockchain development. The funds will be used to build new technology, expand security, and ensure regulatory compliance.

Grayscale Files for Smaller Bitcoin ETF With Competitive Fees

Grayscale applied for a smaller Bitcoin ETF, the Bitcoin Mini Trust, with fees set at 0.15%. This new ETF aims to compete with its prime rivals, such as BlackRock’s IBIT, following a capital exodus from its flagship GBTC product.

NYSE Considers Round-The-Clock Stock Trading, Like Crypto Exchanges 

The New York Stock Exchange conducted a survey exploring the potential of 24/7 stock trading, similar to cryptocurrency exchanges. The survey indicates growing interest in expanding trading beyond traditional market hours. 

Railgun Denies Claims of Laundering by North Korean Entities 

Crypto privacy protocol Railgun refuted accusations of being used by North Korea and other sanctioned entities to launder digital assets. The protocol, nearing $1B total volume, faces scrutiny over alleged misuse.

Kraken Launches Self-Custodial Mobile Wallet for Crypto and NFTs

Kraken introduced its self-custodial mobile wallet, Kraken Wallet, joining other major platforms. The wallet supports a wide range of coins, tokens, NFTs and DeFi assets, encompassing around eight blockchains.

Akira Ransomware Group Linked to Over 250 Global Breaches 

Akira, a new ransomware group, has breached over 250 organisations, raking in nearly $42 million in ransom payments. The group has expanded its threat landscape with the discovery of its Linux variant by the FBI.

Hong Kong Authorities Arrest 70 in JPEX Crypto Scandal 

Hong Kong authorities arrested over 70 individuals linked to the HK$1.6 billion JPEX cryptocurrency scandal. Approximately HK$230 million in assets has been frozen in what is considered the city-state’s largest fraud.

Ernst & Young Launches Ethereum Solution for Business Contracts 

Ernst & Young launched OpsChain Contract Manager, an Ethereum solution using zero-knowledge proofs technology. The solution helps private businesses manage complex business agreements with confidentiality and cost-effectiveness.

“Jay Mazini” Sentenced to Seven Years for Crypto Fraud 

Jabara Igbara, known as “Jay Mazini,” received a seven-year prison sentence for wire fraud and money laundering. Igbara, who posed as a crypto millionaire, was also ordered to forfeit $10 million in assets. 

Bitcoin Rollups Enable Unlimited Smart Contract Functionality 

A new whitepaper from BitcoinOS outlines a system enabling rollups on Bitcoin, providing unlimited smart contract functionality. The development could transform Bitcoin into a more scalable platform for decentralised applications.

Nubank Launches Bitcoin Withdrawal and Deposit Feature 

Sao Paulo-based Nubank allows customers to send and receive Bitcoin, Ethereum, and Solana via its app. The new feature lets users make withdrawals and deposits through the main crypto screen in the Nubank app.

Tether Freezes Wallets Linked to Venezuela’s Oil Sanctions Bypass

Tether has frozen wallets associated with Venezuela’s attempts to bypass U.S. sanctions on oil exports. The move follows reports that Venezuela’s state-run oil company used Tether’s USDT to circumvent U.S. sanctions.

Binance Founder Faces DOJ’s Recommended Three-Year Prison Sentence 

The U.S. DOJ recommended a three-year prison sentence for Changpeng Zhao, founder of Binance, following his guilty plea for violating the Bank Secrecy Act last November. Zhao may face additional penalties.

SEC Demands $5.3 Billion Payment from Terra and Do Kwon 

The SEC requested that Terraform Labs and founder Do Kwon pay $5.3 billion for cumulative damages related to their failed Terra blockchain. The SEC seeks one of the largest fines in crypto history.   

2. Blockchain Performance 

In this section, we will analyse two factors primarily: the top-performing blockchains based solely on their 7-day change and the top performers among the top five blockchains with the highest TVL.  

2.1. Top Blockchain Performers by 7-Day Change 

This week’s top blockchain performers, based on their 7-day change, are Chiliz, Filecoin, Near Protocol, Scroll, and Wemix Network. 

Blockchain  7-Day Change (in %) TVL Chiliz +182.0% $643,248 Filecoin  +48.7% $49,755,949 Near Protocol +22.5% $307,052,493 Scroll +21.4% $73,337,100 Wemix Network +17.6% $14,487,976

As the given data, Chiliz demonstrates an impressive 7-day change of +182.0%. Filecoin arrives second with a change of +48.7%. In the third and fourth position, we have Near Protocol and Scroll, with +22.5% and +21.4%, respectively. Wemix Network’s change is around +17.6%.     

2.2. Top Performers: 7-Day Change in Top 5 Blockchains with Highest TVL

Ethereum, TRON, BNB Smart Chain, Solana, and Arbitrum One are the top five blockchains in the market on the basis of TVL and market dominance. Let’s see how the top five blockchains have performed this week, using 7-day TVL change. 

Compared to the previous week, the dominance of Ethereum has grown significantly from 61.04% to 63.39%. Conversely, the other major chains see its dominance slipping down slightly. 

Blockchain  Dominance (in %)  7d Change (in %)  TVL  Ethereum  63.39% +7.3% $54,154,679,165 TRON 9.73% +0.8% $8,313,860,046 BNB Smart Chain 6.20% -11.2% $5,297,434,351 Solana  4.28% -2.2% $3,655,240,576 Arbitrum One 3.05% -0.7% $2,607,984,662 Others 13.34%

As per the analysis based on the 7-d change index, among the top five blockchains, only two, Ethereum and Tron present positive change. Ethereum, with +7.3 change, appears more appealing than TRON, with just +0.8% change. Meanwhile, among the three others showing negative change, BNB Smart Chain, with -11.2%, displays the most disappointing change per cent. In comparison with BSC, Solana, with -2.2%, and Arbitrum One, with -0.7%, appear less disappointing. 

3. Crypto Market Analysis 

The crypto 7-day price change and dominance analysis and top gains and losers analysis are the two prime areas of the crypto market analysis. 

3.1. Crypto 7-D Price Change and Dominance Analysis  

Bitcoin, Ethereum, Tether, BNB, and Solana are the top cryptocurrencies as per the market cap and dominance indices. Let’s analyse their seven-day price change. 

Compared to the previous week, the Bitcoin dominance percent marks a reduction of around 1 per cent. It has come down from 51.84% to 50.88%. 

Cryptocurrency 7-D Change (in %) Dominance Percentage  Price Market Cap Bitcoin  -1.6% 50.88% $62,863.06 $1,240,401,567,006 Ethereum  +2.1% 15.47% $3,116.67 $380,766,457,230 Tether  -0.1% 4.47% $0.995 $110,308,062,997 BNB +6.7% 3.73% $592.43 $91,379,019,687 Solana  -4.2% 2.52% $135.82 $60,961,965,498 Others  23.28%

As per the analysis done using the 7-day change index, among the five top cryptocurrencies, only two exhibits positive change this week: the 7-day price change of BNB is +6.7%, and the same of Ethereum is +2.1%. Solana, with an unimpressive negative change of -4.2% is the worst performer among the five. Bitcoin marks a negative change of -1.6%. Tether is comparatively stable with a very minimal change of -0.1%, primarily because it’s a stablecoin, unlike the rest.  

Also Check Out : Crypto Hack Report Q1 2024: Trends, Losses, and Recovery Efforts

3.2. Top Gainers & Losers of the Week in Crypto Market 

Here is the list of top gainers and top losers of the week in the cryptocurrency market. The analysis is made using the 7-day Gain and 7-day Lose indices. 

3.2.1. Top Gainers of the Week in Crypto 

Cryptocurrency  7-Day Gain  Price  Bonk +57.15% $0.00002365 Pepe +37.26% $0.000007121 Hedera +31.83% $0.1073 Near Protocol +24.36% $7.16 FLOKI +20.62% $0.0001731

Bonk, Pepe, Hedera, Near Protocol, and FLOKI are the five top gainers of the week in the cryptocurrency market. Bonk, with +57.15% gain, is the top gainer. Pepe and Hedera follow with +37.26% and +31.83%, respectively. Near Protocol registers a gain of +24.36%. And, FLOKI’s gain is +23.62%. 

3.2.2. Top Losers of the Week in Crypto 

Cryptocurrency  7-Day Loss Price  Ethena -20.28% $0.8166 Toncoin  -14.46% $5.23 Ronin -14.22% $2.73 Sui -12.99% $1.17 Celestia -12.46% $10.03

Ethena, Toncoin, Ronin, Sui and Celestia are the top five losers of the week in the crypto market. Ethena displays a serious loss of -20.28%. Toncoin and Ronin show losses of -14.46% and -14.22%, respectively. Sui exhibits a loss of -12.99%. And, Celestia’s loss is around -12.46%. 

Notably, Ethena was in the list of top losers last week also, with a loss of -19.75. Surprisingly, Celestia and Sui were in the top gainers list last week, with +23.44 and +10.07%. The present data reveals the extreme volatile nature of these top cryptos. 

3.3. Stablecoin Weekly Analysis 

Tether, USDC, DAI, First Digital USD, and Ethena USDe are the top stablecoins in the market in terms of market capitalization. Let’s analyse their weekly performance using seven-day market capitalisation, market dominance and trading volume indices.

Stablecoins  Market Dominance (7d) [in %] Market Capitalisation (7d) Trading Volume (7d) Market Capitalisation Tether  70.26% $110,388,612,841 $26,921,184,988 $110,289,715,138 USDC 21.24% $33,372,364,895 $6,738,292,988 $33,440,300,737 Dai 3.32% $5,223,029,136 $618,343,772 $5,222,496,126 First Digital USD 2.81% $4,418,950,180 $5,961,898,048 $4,412,930,967 Ethena USDe 1.50% $2,352,273,660 $119,586,404 $2,350,705,487 Others  0.87%

As per the data, Tether dominates the market with 70.26%. USDC follows with 21.24%. Dai, First Digital USD, and Ethena USDe remain as minor players, with 3.32%, 2.81% and 1.50%, respectively, though they appear promising as they show far better performance than the others, which make just 0.87%.

Compared to the previous week, none of the top five stablecoins show any significant fluctuation in dominance.    

3.3.1. Stablecoin Weekly Price Analysis 

Let’s analyse the weekly performance of the top stablecoins further using the seven-day price change index. 

Stablecoins  7-Day Price Change (in %) Price Tether  -0.1 $0.9995 USDC -0.1 $0.9998 Dai +0.2 $1 First Digital USD -0.2 $1 Ethena USDe -0.0 $0.9981

As per the analysis done using the 7-day price change index, all the stablecoins, though stable in nature, show slighight deviation. Dai exhibits a positive change of +0.2%. The other four show negative change. First Digital USD registers a biggest negative deviation of -0.2%. Both Tether and USDC show the same negative change of -0.1%.  

Discover the crypto price prediction of your favorite cryptocurrency. We include a range of Price Predictions made by various crypto experts.

4. Bitcoin ETF Weekly Analysis 

Bitcoin Futures ETFs and Bitcoin Spot ETFs should be analysed separately, in order to get the right picture of the Bitcoin ETF market, as they represent two different segments. Let’s start!

4.1. Bitcoin Futures ETF Weekly Analysis 

ProShares (BITO), VanEck (XBTF), Valkyrie (BTF), Global X (BITS), and Ark/21 Shares (ARKA) are the top Bitcoin Future ETFs, as per the Asset Under Management index. Let’s use the price change percentage index to analyse these ETFs.

Bitcoin Futures ETFs Price Change (Gain/Loss) [in %] Asset Under Management (in Million) Price  BITO -1.84% $598.78M $27.70 XBTF +0.33% $42.41M $39.22 BTF -1.17% $38.20M $18.64 BITS -0.31% $26.10M $65.00 ARKA -1.30% $8.01M $61.04

As per the latest data collected today, among the top five Bitcoin Futures ETFs, only XBTF exhibits positive price change; it shows a change of +0.33%. BITO marks a negative change of -1.84%. ARKA and BTF also demonstrate negative changes of -1.30% and -1.17%. BITS displays a comparatively minor negative price change of -0.31%. 

Notably, in the previous week, none of these future ETFs showed negative change. BITO’’s change per cent was +1.19%. 

4.2. Bitcoin Spot ETF Weekly Analysis 

Grayscale (GBTC), Blackrock (IBIT), Fidelity (FBTC), Ark/21 Shares (ARKB), and Bitwise (BITB) are the top Bitcoin Spot ETFs, as per the Asset Under Management index. Let’s analyse them using the price change index. 

Bitcoin Spot ETFs Price Change (Gain/Loss) [in %] Asset Under Management (in Billion) Price  GBTC -1.49% $24.33B $56.74 IBIT -1.47% $17.24B $36.32 FBTC -1.52% $9.90B $55.75 ARKB -1.61% $2.85B $63.72 BITB -1.53% $2.16B $34.75

According to the data given above, all the top five Bitcoin Spot ETFs register a negative change. ARKB marks a serious negative change of -1.61%. BITB and FBTC follow with -1.53% and -1.52%, respectively. GBTC displays a change of -1.49%. IBIT also points to a negative change of -1.47%. 

Interestingly, in the previous week, all these top five spot ETFs showcased positive changes. 

Also Read How The Crypto Laws & Regulations Affecting Blockchain Technology and Cryptocurrencies, like Bitcoin, Can Impact its Adoption.

5. DeFi Market Weekly Status Analysis 

Lido, EigenLayer, AAVE, Maker, and JustLend are the five top DeFi protocols on the basis of TVL. Let’s analyse its weekly performance using the 7d Change index.

DeFi Protocols 7d Change (in Total Value Locked) [in %] TVL Lido +1.95% $29.264B EigenLayer  +16.20% $15.327B AAVE +1.82% $10.529B Maker  +2.73% $8.085B JustLend -2.77% $6.052B

As per the analysis done using the 7-day change in Total Value Locked index, EigenLayer reports an impressive change of +16.20%. Others display minimal change. Maker show a positive change of +2.73%. Conversely, JustLend registers a negative change of -2.77%. Meanwhile, Lido and AAVE mark positive changes of +1.92% and +1.82%, respectively.    

In the previous week also, EigenLayer demonstrated positive change, but minimal. This week’s change of JustLend is negative, but not as pathetic as its previous week’s change of -11.09%. 

6. NFT Marketplace: A Basic Weekly Analysis 

Blur, Blur Aggregator, Superrare, Cryptopunks, and Opensea are the top NFT marketplaces on the basis of market share. Let’s analyse them using the Volume Change (change of last 7d volume over the previous 7d volume) index.  

Superare is a new entrant in the top five list. It pushed Gem out of the list. Gem, though with a meagre market share of 0.84%, was a member of the list last week. Notably, the new entrant has an impressive market share of 8.85%.   

NFT Marketplaces  Volume Change [Last 7 Day over the Previous 7 Day Volume] Market Share 7-day Rolling Volume  7-day Rolling Trades  Blur  -21.45% 65.98% 10423.02 16858 Blur Aggregator  -19.49% 19.31% 5415.21 8027 Superrare +4.69% 8.85% 412.82 52 Cryptopunks  +10.77% 2.36% 852.82 16 Opensea -33.37% 1.47% 229.46 1509 Others  2.03%

As per the given data, this week, only Cryptopunks and Superrare report positive volume changes: when Cryptopunks displays a change of +10.77%, Superrare records a change of +4.69%. Conversely, Opensea, Blur and Blur Aggregator exhibit negative changes. Opensea shows the biggest negative change of -33.37%. Blur and Blur Aggregator follow with -21.45% and -19.49%. 

6.1. Top NFT Collectible Sales this Week 

CryptoPunks #635, CryptoPunks #58, $PUPS BRC-20 NFTs #569d857, Azuki #5869, and CryptoPunks #9872 are the top NFT collectable sales reported this week in the NFT market landscape. 

NFT Collectibles  Price (in USD) CryptoPunks #635 $12,415,880.00 CryptoPunks #58 $617,572.63 $PUPS BRC-20 NFTs #569d857 $259,192.41 Azuki #5869 $211,907.50 CryptoPunks #9872 $211,390.17

Cryptopunks #635, sold for $12,415,880.00, is the NFT, which received the highest amount this week. CryptoPunks #58, sold for $617,572.63, and $PUPS BRC-20 NFTs #569d857, sold for $259,192.41, arrive in the second and third positions, respectively. Azuki #5869, received $211,907.50, attains the fourth position. CryptoPunks #9872, which collected $211,390.17, becomes the first top one.  

7. Web3 Weekly Funding Analysis 

7.1. General Crypto Fundraising Trend Analysis 

The two prime areas of the general crypto fundraising trend analysis are the crypto fundraising by category analysis and the top crypto investment locations analysis.  

7.1.1. Crypto Fundraising by Category This Week 

Blockchain Infrastructure, Blockchain Services, Chain, DeFi, GameFi, Meme, Social and Stablecoin are the categories, which witnessed activities this week. Let’s analyse them using the Number of Fundraising Rounds and Funds Raised in USD. 

Category  Number of Fundraising Rounds April 22-28, 2024 Funds Raised in USDApril 22-28, 2024 Blockchain Infrastructure  4 $62.00M Blockchain Services  10 $39.50M Chain 1 N/A DeFi 2 N/A GameFi 9 $30.00M Meme 1 $12.00M Social 2 $3.50M Stablecoin  1 $2.15M

As per the data given above, Blockchain Infrastructure raised around $62.00 million. Blockchain Services secured around $39.50 million. GameFi and Meme also raised impressive funds of $30.00 million and $12.00 million. Socal and Stablecoin amassed meagre funds of $3.50 million and $2.15 million.  

7.1.2. Top Crypto Investment Locations This Week 

Apart from the undisclosed category, the US and Germany are the top crypto investment locations this week.  

Crypto Investment Locations Funds Raised in (%) Funds Raised in USD Number of Fundraising Rounds Undisclosed  74% $111.45M 25 United States  23% $34.40M 5 Germany  3% $4.60M 1

The US raised over $34.40 million and Germany not less than $4.60 million. Notably, the undisclosed section raised as high as $111.45 million. 

In the previous week, the undisclosed category secured only 57% of the total funds raised. But, this time, it grew to over 74%. Like this time, last week, the top two players, excluding the undisclosed category, were the US and Germany.  

7.2. ICO Landscape: A Weekly Overview  

Letit, Focus.xyz, LightLink, and Runecoin are the major ICOs that ended this week. Let’s analyse how much amount they received. 

ICO Fund Received  Token Price  Fundraising Goal Total Tokens  Token (Available for Sale) Letit $1,430,000 $0.08 $400,000 100,000,000 50% Focus.xyz $80,000,000 N/A N/A N/A N/A LightLink  $6,200,000 N/A N/A 1,000,000,000 5% Runecoin  N/A N/A 420,000,000 Tokens 21,000,000,000 2%

As per the above data, Focus.xyz received the largest fund of $80,000,000. LightLink secured $6,200,000, and Letit collected $1,430,000. 

Discover the 2023’s Biggest Crypto Collapses: Top Bankruptcies That Shocked the Market

8. Weekly Blockchain Hack Analysis

As of April 27, 2024, hackers have stolen a significant $7.77 billion. The majority, approximately $5.85 billion, targeted decentralised finance platforms. Another portion, roughly $2.83 billion, was taken from bridges connecting different blockchain networks. 

Grand Base experienced a major hack last week, on 15th April, 2024. Nearly $1.7 million was hacked using the technique of private key compromise. It is the only hack reported this month. 

Endnote 

In this week’s comprehensive analysis of Web3, Blockchain and Crypto, we have brought out powerful insights, which can be used to stay-to-data about the market developments. As the landscape evolves, the strategic integration of technology and data-driven decision-making becomes paramount for stakeholders navigating the dynamic realms of decentralised technologies. 

The post Ripple Vs SEC Lawsuit Update: Here’s What To Expect Next Week appeared first on Coinpedia Fintech News

Last week, the legal battle between Ripple and the US Securities and Exchange Commission (SEC) progressed to trial, with many expecting a soon resolution. Attorney James K. Filan announced a new schedule from Magistrate Judge Sarah Netburn, targeting the motion for remedies and final judgment. The SEC must respond by April 29, and Ripple has three business days afterward to reply.

A Crucial Week For Ripple And SEC

Magistrate Judge Sarah Netburn has established a timeline for the ongoing lawsuit between Ripple Labs and the Securities and Exchange Commission (SEC). This schedule is connected to Ripple’s attempt to dismiss the SEC’s latest expert evidence intended to support its argument for penalties and a definitive ruling. Judge Netburn has granted the SEC an extension until April 29, 2024, to file their counterarguments to Ripple’s motion. Ripple will then have three business days to reply.

This scheduling update follows Judge Netburn’s recent appointment as District Judge in the Southern District of New York. Despite her new role, she remains the presiding judge in the Ripple vs. SEC case, where she is noted for her impartial decisions that are generally viewed positively by the crypto community.

“My understanding about XRP is that not only does it have a currency value, but it has a utility, and that utility distinguishes it from bitcoin and ether,” the judge said in 2021 (according to attorney Jeremy Hogan).

XRP has challenged the SEC’s request for substantial civil penalties. The blockchain payments company has countered the SEC’s demand for a hefty fine, proposing instead a maximum penalty of $10 million. Ripple argues that the SEC’s allegations are baseless and lack adequate evidence.

Here’s The Expected Outcome

Bill Morgan, Ripple’s representative, has continuously argued over the past three years that Ripple On-Demand Liquidity (ODL) sales do not constitute investment contracts. According to Morgan, the nature of ODL transactions is distinct from traditional investments. He points out that customers use XRP for only a few seconds to enable cross-border payments, rather than for investment purposes.

Ripple highlights that the SEC hasn’t proven any likelihood of future violations or reckless disregard in its XRP sales and cites the Govil case to dispute the SEC’s disgorgement claim, highlighting the lack of financial harm evidence.

Hogan recently predicted that the lawsuit could conclude by this summer, predicting a settlement of $100 million:

“I believe the Judge will order no disgorgement but will throw the SEC a bone by imposing a $100 million penalty on Ripple.”

Earlier, the SEC had demanded a $2 billion fine from Ripple, citing violations in certain XRP sales. Ripple countered by asserting that XRP should not be classified as a security, arguing that it does not fall under the SEC’s regulatory scope. The company’s chief legal officer, Stuart Alderoty, presented several key reasons why the penalty should not exceed $10 million.

The post Solana (SOL) and Ethereum (ETH) Signal Uncertainty, While Investors Flock to Furrever Token (FURR): Is It Time to Invest FURR? appeared first on Coinpedia Fintech News

Amidst market uncertainty, an increasing number of investors are turning to newer tokens as alternatives to established cryptocurrencies like Solana (SOL) and Ethereum (ETH). With both SOL and ETH signalling mixed signals, uncertainty looms over their short-term trajectories, prompting investors to explore alternative investment opportunities. Furrever Token (FURR) emerges as a beacon of promise in this landscape, attracting significant attention and investment as traders seek potentially lucrative returns amidst the shifting market dynamics. As FURR garners growing interest, investors are left to ponder whether now is the opportune moment to allocate resources to this emerging token.

Ethereum (ETH) Faces Regulatory Uncertainty Amidst SEC’s ETF Decision

Ethereum (ETH) maintains a price of around $3,141.42, showing a modest increase of nearly 1% since yesterday, but remains at last week’s levels. However, Ethereum’s future is clouded with uncertainty as the cryptocurrency community closely monitors reports surrounding the SEC’s rumored plans to reject spot Ethereum ETF proposals in May. Despite the approval of spot Bitcoin ETFs earlier in 2024 and excitement surrounding the BTC halving, Ethereum’s fate hangs in the balance.

Traders grapple with the potential implications of the SEC’s stance on Ethereum ETFs, which could significantly impact ETH. Recent indications suggest that approval may not be imminent, leading to a rise in bearish sentiment among traders. Ethereum has experienced significant outflows from exchanges, signaling investor confidence in further price appreciation. Prominent analyst Titan of Crypto highlighted a substantial outflow of over 260,000 ETH, equivalent to more than $781 million, from exchanges within the past week.

Furthermore, figures like Justin Sun have been accumulating ETH, with significant withdrawals from exchanges. Analysis indicates an increase in Ethereum’s net deposit on exchanges compared to the previous seven days, suggesting a shift towards selling among investors. However, whale accumulation of Ethereum remains unaffected, with the continued rise in ETH’s supply held by top addresses.

As Ethereum navigates regulatory uncertainty and market fluctuations, investors remain cautious, awaiting clarity on the SEC’s ETF decision and its potential impact on the cryptocurrency’s trajectory.

Solana (SOL) Faces Market Downturn Amidst Strong Fundamentals

Solana (SOL) experiences a 1.7% decline, dropping to $142.85 over the past 24 hours, contrasting with a modest 1.1% increase seen across the cryptocurrency market. Despite SOL’s nearly flat performance last week and a 23.4% loss in value over the past month due to challenging market conditions, the token has shown remarkable growth, with a 534.8% increase in the past year.

Technical indicators suggest the potential for a rebound, with SOL’s 30-day moving average briefly falling below its 200-day average early yesterday, providing a potential buying opportunity. Additionally, Solana’s Relative Strength Index (RSI) is making efforts to recover towards 50, signaling a potential reversal in momentum.

Trading volume remains relatively high, exceeding $4 billion, indicating sustained market interest. Signs of sufficient buying interest suggest potential stabilization and growth.

CoinShares’ report confirms Solana’s position as the second most popular altcoin in terms of total asset value after Ethereum. SOL’s total locked value stands at $3.83 billion, marking significant increases since the beginning of the year and over the past 12 months, driven by rising demand for Solana-based meme coins and NFTs.

Furrever Token (FURR): Capturing Hearts and Portfolios in the Crypto Space

Furrever Token (FURR) has emerged as a standout performer amidst the cryptocurrency market’s turbulence, attracting a surge of investor interest and enthusiasm. Positioned as a refreshing departure from traditional cryptocurrencies, FURR captivates users with its endearing and whimsical approach, centered around the universal allure of cute kitties.

The token’s unique value proposition extends beyond its charming imagery, offering investors the promise of substantial returns and a delightful user experience. With a 15X return on investment (ROI) and a user-friendly platform infused with cute cat-themed stickers and visuals, FURR presents an enticing investment opportunity for both seasoned traders and newcomers alike.

As FURR progresses through its presale stages, investors are presented with an opportune moment to capitalize on its growth potential. Currently, in the 8th stage of a 10-stage presale, the token’s price is poised to increase with each subsequent stage,

making it the perfect time to invest. With its presale already surpassing $1 million within just two months and organic community growth, FURR demonstrates robust momentum and investor confidence.

Moreover, FURR’s commitment to security and compliance, highlighted by the audit received from Securi Lab, further instills trust and reassurance among investors. The team’s decision to lock their tokens for one year underscores their dedication to the project’s longevity and sustainability.

In addition to its financial potential, FURR fosters a warm and friendly community, with active engagement from administrators and moderators on platforms like Telegram. This community-driven approach enhances transparency and cultivates a sense of shared joy and camaraderie among FURR enthusiasts.

Furrever Token (FURR) continues to soar in popularity, enticing investors with its adorable charm and promising returns. With the current price steadily climbing and the presale advancing through its 8th stage of a 10-stage journey, now is the opportune moment to seize this investment opportunity. Explore more about FURR and join the community at the official website. For any inquiries or support, contact us at support@furrevertoken.com.

Don’t Miss Out on the Most Exclusive Presale Opportunity of 2024:Furrever Token Official Website  |   Visit Furrever Token Presale Join Official Telegram Group       |   Follow Official X Account

The post Why is the Crypto Market Down Today? appeared first on Coinpedia Fintech News

Despite increased price volatility in the crypto assets post-Bitcoin-Halving, the top tokens constantly display a neutral sentiment in their respective charts, indicating uncertainty in the market’s future course. 

The recent freefall triggered by Bitcoin’s decline has led to significant liquidations totaling over $157 million within the last 24 hours. Bitcoin’s price drop from its recent highs has prompted a bigger sell-off across the crypto market, impacting altcoins on a larger scale. 

Bitcoin’s intraday lows of $62,389 marked its lowest point in over a week, contributing to a negative sentiment in the market. Moreover, it continues to trade in a consolidated range between $61,025 and $73,754 since the start of March, indicating a weak price action for the BTC price. 

Altcoin Avalanche: Shiba Inu, Solana Take a Dive!

This downward pressure extended to other cryptocurrencies, with many experiencing losses ranging from 2% to 15%. Notably, Solana (SOL) and Shiba Inu suffered approximately 6% declines, while meme coins associated with Solana, such as Dogwifhat and Bonk, experienced even steeper losses, falling by 11.80% and 13.45%, respectively.

The swift price downturn caught some investors off guard, resulting in millions of liquidations across various crypto exchanges. CoinGlass data indicates that the liquidations amounted to $157.29 million, with Bitcoin accounting for a significant portion at $42.22 million.

Investors Caught Off Guard!

However, the downturn in the cryptocurrency market happened with the release of higher-than-expected inflation data, raising investor concerns about the global economy’s outlook. CNBC reported that the core personal consumption expenditures (PCE) price index, excluding food and energy, grew 2.8% year on year in March, matching February and slightly exceeding expectations.

Fed’s Plan for Rate Hike

The Federal Reserve targets 2% inflation, a threshold that the core PCE has exceeded for the past three years. The Fed closely monitors the PCE because it adjusts for changes in consumer behavior. This latest inflation report follows previous negative inflation news, prompting speculation that the Fed may maintain interest rates unchanged until at least the summer unless there are significant changes in the data.

High Stakes at FOMC Meet

With the Federal Open Market Committee (FOMC) meeting just four days away, all eyes are on the decisions that will shape monetary policy soon. The outcomes of this crucial gathering could impact both conventional financial markets and the cryptocurrency world in the months ahead.

One thing’s for sure: the next few days will be catastrophic for investors.

The post Top Meme-Coins For 10X Profits In May! appeared first on Coinpedia Fintech News

The memecoin category has displayed a significant rise in its price volatility post-Bitcoin-Halving, indicating increased price action for these tokens in the cryptocurrency industry.

Moreover, top memecoins continue to record a massive uptrend in their respective portfolios, suggesting a high possibility of a memecoin mania during the upcoming months.

In this article, we have covered the top 5 memecoins that have the potential to outperform other cryptocurrencies in the coming month.

Popcat (SOL) (POPCAT):

Built on the Solana blockchain, this memecoin has caught the attention of the crypto industry by recording a massive price surge of 5,001.48% since the year started, resulting in it becoming the top gainer of the category and further indicating a strong bullish sentiment in the cryptocurrency space.

Despite recording a correction of 20.84% within the past 24 hours, this memecoin has added 182.58% within the past seven days and 21% over the past 30 days.

With a price tag of $0.401, a market cap of $392.66 Million, and a circulating supply of approximately 979.97 Million POPCAT tokens, this memecoin displays a high potential to outperform Bonk’s record 10,000% surge during the previous year.

MAGA (TRUMP):

Make America Great Again “MAGA” token launched in August 2023, gained significant attention from the crypto space after its creators transferred 1% of the token’s initial supply to Donald Trump’s wallet.

The TRUMP token has a total supply of 46.50 Million tokens and a 24-hour trading volume of $2.4M. Moreover, the MAGA price has added approximately 10% within the past seven days and 12.86% over the past 30 days.

Furthermore, its YTD stands at 1,917.17% at the time of writing, making it the second-best performer in the memecoins category. With the rising interest of investors in the memecoin category and the upcoming Presidential election, this altcoin has a high potential to record a new high.

MOG Coin (MOG):

The MOG coin is an ERC-20-based token created for the MOG ecosystem. Users can purchase or rent a service within the ecosystem with the help of the blockchain’s native token.

MOG token is primarily used for the means of transaction within the MOG community. Furthermore, it can be bridged between Bitcoin and Ethereum using the Multibit.

Despite recording a correction of 29.25% over the past 30 days, it has added 6.28% within seven days and has a YTD return of 1,154.36%, making it one of the top gainers. Further, the rising hype of memecoins could result in this altcoin recording a new high, making it a potential pick for this list.

Baby Doge Coin (BabyDoge):

Initially created as a joke with a mission to spread awareness of animal adoption, the memecoin gained massive attention from the industry. Built on the Ethereum contract, the Baby Doge Coin uses the Binance Smart Chain to provide Proof-of-Stake (PoS) authority consensus that relies on its 21 validators.

The Bady Doge Coin is an upgraded version of the Dogecoin and has improved transaction speeds. Further, about 5% of each transaction is automatically redistributed to baby doge holders.

With a trading price tag of $0.00000000195, a circulating supply of 143,788.8T BabyDoge tokens, and a market cap of $280.2 Million, this memecoin currently has a YTD return of 35.86% in valuation.

Cat in the dogs world (MEW):

The latest sensational memecoin launched of the Solana-ecosystem, the Cat in the dogs world “MEW” token has gained instant attention from the crypto industry following its launch on 26th March this year. Since its launch, the memecoin has surged 128.36% in valuation, indicating a strong bullish influence in the crypto space.

This memecoin has a trading price of $0.004691, a maximum supply of 88,888,888,888 (88.88 Billion) MEW tokens, a 24-hour trading volume of $63.786 Million, and a market cap of $416.182 Million.

The post  The Rise of 2024: Expert Forecasts for Ethereum (ETH), Furrever Token (FURR), and Shiba Inu (SHIB) appeared first on Coinpedia Fintech News

In today’s crypto landscape, Ethereum (ETH) and Shiba Inu (SHIB) kickstart the day with a promising surge, buoying investor optimism. Meanwhile, Furrever Token (FURR) achieves a significant milestone, hitting the impressive $1 million mark in its presale journey within just two months. This dynamic trio of cryptocurrencies reflects the diverse opportunities and achievements within the ever-evolving world of digital assets, capturing the attention of investors seeking potential growth and innovation in the market.

Ethereum (ETH) Faces Uncertainty Amidst SEC’s Rumored Rejection of ETF Proposals

Ethereum (ETH) finds itself at the center of attention in the cryptocurrency community, with traders closely monitoring reports surrounding the SEC’s rumored plans to reject spot Ethereum ETF proposals in May. Despite a current price of around $3,141.42, up nearly 1% since yesterday but returning to last week’s levels, Ethereum’s future remains uncertain amidst regulatory uncertainties.

Traders are grappling with the potential implications of the SEC’s stance on Ethereum ETFs, which could significantly impact ETH. While hopes for a rally persist, recent indications suggest that approval may not be imminent, leading to a rise in bearish sentiment among traders. Despite Ethereum’s recent surge above the $3,000 mark, significant outflows from exchanges, totaling over 260,000 ETH, indicate investor confidence in further price appreciation, as highlighted by Titan of Crypto.

Moreover, notable figures like Justin Sun have been accumulating ETH, with significant withdrawals from exchanges. Analysis reveals an increase in Ethereum’s net deposit on exchanges compared to the previous seven days, suggesting a shift towards selling among investors. However, whale accumulation of Ethereum remains unaffected, with ETH’s supply held by top addresses continuing to rise.

As Ethereum navigates these uncertain waters, traders remain on edge, awaiting clarity on the SEC’s stance and its potential impact on the market.

Shiba Inu (SHIB) Prepares for Potential Gains Amidst Bullish Signals

Shiba Inu (SHIB) sees a modest rise in price, currently trading around $0.00002532, up by 2.5% since yesterday, mirroring Ethereum’s morning surge. Analyst Ak47 highlights potential gains ahead as SHIB forms a falling wedge trend on its 12-hour chart.

The Shiba Inu community anticipates positive effects from the recently concluded Bitcoin halving event on SHIB’s price. Despite a 12.9% increase since the halving, SHIB remains below early March levels, when it reached around $0.00004500. However, Ak47’s analysis suggests optimism, with a potential breakout and price target of $0.00003946, representing a 53.36% increase from the current price.

Before reaching this target, SHIB must surpass the resistance at $0.00002803, where 1,342 investors hold at least $1 million worth of SHIB. Despite recent attempts falling short, investor optimism remains high, evidenced by over 1 million addresses holding SHIB for 12 months or longer, according to data from IntoTheBlock. As SHIB prepares for potential gains, investors eagerly await further developments in its price trajectory.

Furrever Token (FURR): Thriving Amidst Market Downturn

Furrever Token (FURR) has demonstrated remarkable resilience and growth amidst the challenging market conditions, surpassing the impressive milestone of $1 million amidst the overall market downturn. FURR’s success can be attributed to several key factors that have contributed to its popularity and appeal within the crypto community.

First and foremost, FURR’s unique value proposition sets it apart from traditional cryptocurrencies. With a focus on infusing the crypto space with cuteness and fun, FURR offers users a delightful and charming experience that goes beyond the typical use cases of digital assets. By leveraging adorable cat imagery and whimsical content, FURR creates a welcoming ecosystem that fosters a sense of shared joy and community among its users.

Moreover, FURR’s robust tokenomics and promising returns have attracted investors seeking lucrative opportunities in the crypto market. With a 15X return on investment (ROI) and a user-friendly platform, FURR provides an attractive investment option for both experienced traders and newcomers alike. The absence of buy and sell taxes further enhances the appeal of FURR, creating a favorable environment for investors to participate in the project’s growth.

Furthermore, FURR’s commitment to security and compliance has instilled confidence in its longevity and integrity. Through audits and team token lock-ups, FURR demonstrates a dedication to protecting investor interests and ensuring a safe and transparent ecosystem for all users.

Additionally, FURR’s active community engagement and organic growth have played a crucial role in its success. With an enthusiastic and supportive network of admins, moderators, and community members, FURR has cultivated a strong sense of camaraderie and shared excitement around the project.

As of the latest data, FURR’s current price stands at $0.000648. Investors interested in Furrever Token (FURR) can learn more and participate in the project by visiting the official website at furrevertoken.com. For inquiries and further information, individuals can reach out via email at support@furrevertoken.com.

Don’t Miss Out on the Most Exclusive Presale Opportunity of 2024:Furrever Token Official Website  |   Visit Furrever Token Presale Join Official Telegram Group       |   Follow Official X Account

The post Bitcoin Runes Are On Fire Post-Halving–AI Meme Token $WAI Raises A Quarter Million appeared first on Coinpedia Fintech News

The halving has officially brought the much-anticipated pump that many traders believe it would. Not only are the top cryptos exploding, but so are altcoins, AI tokens, and meme coins. Leading this charge is a new protocol, Bitcoin Runes–and WienerAI ($WAI) seems to be riding this wave of new tech.

What Are Bitcoin Runes? Why Are They Pumping?

As the grandfather of all blockchain ecosystems, many consider Bitcoin as old-fashioned. However, in the past two years, the Bitcoin ecosystem has seen some incredible new advancements that have led to new adoption of BTC–as well as some epic pumps.

The latest development is Bitcoin Runes. In an effort to create a healthier, more sustainable way to etch tokens on the Bitcoin Network–Casey Rodarmor, creator of Ordinals–developed Runes. Runes allow for meme coins like DOGE, SHIB, to exist on the Bitcoin blockchain. The protocol, which launched on the day of the halving, has gained significant traction, and global attention.

Halving Pushes WienerAI To The Forefront.

While the Bitcoin maximalists jump from one rune project to another, the Bitcoin halving seems to have triggered a meme coin run on Solana and Ethereum-based meme coins. Bonk, for instance, one of the top meme coins on Solana has risen nearly 30% in the last 7 days of trading.

Brewing in the shadows though, seems to be a coming whirlwind to the Ethereum network. 

WienerAI, a goofy little dachshund AI, has traders buzzing about its potential. While on the surface $WAI has little to do with the Bitcoin Runes development, however it is the promise of a new technology that has allowed the token to raise over $250,000 within days of opening the presale.

WienerAI is carving a new path in crypto–an AI/meme coin hybrid that has all the makings of a 1000X meme coin banger, while weaving an interesting narrative that blends it with AI.

AI Coins Fly Post-Halving. WienerAI’s Ticket To Stardom?

The Bitcoin halving has been full of surprises so far and it has only been less than a week since. One of the niches showing the most promise at the moment is AI tokens. For instance, Near Protocol, the top AI token by market cap has soared beyond a $7.1B FDV.

It is with this AI bull run as a backdrop that many traders are seeing real opportunity is this new meme coin WienerAI. 

Doing a bit of digging into who some of the early buyers are for this hot presale, you’ll see many large holders of legendary meme coins like SHIB, DOGE–and newer ones like BOME, and BONK. This demonstrates that veterans of the meme coin game have strong conviction that WienerAI can be the next 10,000X coin.

While it may be too early to tell if WienerAI can compete with the big dogs, at a price of only $0.0003 per token, this presale is certainly worth a shot. If $WAI does manage to catch even a sprinkle of the magic of Runes, AI tokens, and the recent meme runs–it could very well be the next millionaire-making meme coin.

WIENERAI OFFICIAL WEBSITE. BUY PRESALE HERE

The post New AI Meme Coin Launches Presale – Could WienerAI 100x? appeared first on Coinpedia Fintech News

WienerAI is the latest dog-themed meme coin built on the Ethereum blockchain. It offers generous staking rewards of over 1,900% APY during the early stages of the presale where it raised more than $370,000 within a few days, showing strong investor interest.

Because it merges the two most popular themes in the crypto space, AI and meme coins, some traders are saying the $WAI token has the potential to soar after launch.

What is WienerAI?

WienerAI aims to use AI and meme coin trends to catch investors’ attention. The token’s theme is a Wiener dog, which is part dog, part AI, and part sausage, making it an appealing figure for the meme coin trader community.

The project’s vision is a world where AI is the same as companionship, where a goofy-looking wiener dog-robot is taking over the crypto space and becoming the “top dog”. In this vision, AI is seen as a friend, not just a tool, and constantly evolves in a positive direction.

Called the “Sausage Army”, the project’s community is growing every day. The WienerAI X account has over 4,500 followers and over 1,200 subscribers on WienerAI’s Telegram channel. This only shows how early this project is.

While the presale lasts, interested investors can buy the $WAI token for $0,0007 apiece. However, the price will increase with each consecutive stage. Those looking to buy $WAI can do so with ETH, USDT, BNB, or a card.

$300K! Wiener Woofs!Our Sausage Squad Is Unstoppable! pic.twitter.com/Ng3ii6WZcy

— WienerAI (@WienerDogAI) April 24, 2024

WienerAI Staking Rewards

Early investors who decide to stake their $WAI tokens get to earn a generous annual percentage yield of over 1,900%. Of all the WienerAI tokens bought in the presale, 73% are already staked, showing investor confidence for the long term.

The $WAI distribution is 3,938 tokens per Ethereum block (around 12 seconds), and the tokens will be distributed over 2 years.

WienerAI Tokenomics

The $WAI token is an ERC20 token built on the Ethereum blockchain. Using modular technologies, the $WAI token can be upgraded on the blockchain, although it’s not clear how at the moment.

WienerAI has a total supply of 69 billion $WAI tokens with 30% allocated for the presale, based on the WienerAI whitepaper. Community rewards and staking rewards take 20% each, while exchange liquidity will get 10% of the total supply. For marketing purposes, 20% of the tokens will be allocated.

The WienerAI Master Plan

WienerAI has set three stages in its roadmap:

The first stage covers the token audit, presale launch, social media growth, and marketing campaign. The project is currently in this stage.

The second stage aims to expand the Sausage Army, upgrade the WienerAI token on the blockchain, and take over the Ethereum network.

The third and final stage will see the token presale end and the $WAI token launch on exchanges.

To put your mind at ease, know that Coinsult has audited the WienerAI token contract. As for the team behind the project, they are anonymous, which is standard in the meme coin sphere.

By combining the AI and meme coin themes, WienerAI has the potential to 100x this bull cycle. For comparison, a similar meme coin called Scotty the AI, surged over 200% after launching on exchanges. With over $370,000 raised within days, WienerAI is on track to outperform it.

Visit WienerAI Presale

The post Bitcoin, Ethereum, And XRP Price Prediction: Will Bulls Make A Comeback This Week? appeared first on Coinpedia Fintech News

Despite increased price volatility in the cryptocurrency industry post-Bitcoin-Halving, the top tokens constantly display a neutral sentiment in their respective charts, indicating uncertainty in the market’s future course.

Moreover, the mid-cap and low-cap altcoins have experienced the highest gains since Halving, highlighting a high possibility of a switch of investor’s interest toward other projects to maximize their profits.

With the current market sentiments, will the industry leaders Bitcoin, Ethereum, and XRP tokens record a comeback during the coming week?

BTC Price On The Verge Of Testing Its Major Support:

The market leader, Bitcoin price, has recorded a neutral sentiment post-halving by losing approximately 2% within the past week. Moreover, it continues to trade in a consolidated range between $61,025 and $73,754 since the start of March, indicating a weak price action for the BTC price. 

TradingView: BTC/USDT

Despite recording a correction of 10.45% within the past 30 days, the Bitcoin price has a Year-to-Date return of approximately 50%, indicating a high possibility of a bullish price action in the long-term perspective.

The technical indicator, MACD, displays a constant red histogram in the chart, highlighting a strong bearish influence in the crypto space. Moreover, the averages show a downward trend, suggesting the price may continue losing value in the coming time.

If the market experiences a bullish reversal in the chart, the BTC price could attempt to achieve a new all-time high (ATH) of $80,000 during the coming month. Conversely, bearish price action could result in Bitcoin price testing its low of $61,000. 

ETH Price Forms A Bearish Pattern:

The Ethereum price continues to hover close to its support trendline within the symmetric triangle pattern, highlighting a strong bearish influence in the crypto space. Moreover, the EMA 50-day acts as a resistance trendline, resulting in the ETH token trading close to its crucial support of $3,150.

TradingView: ETH/USDT

After trading under a bullish influence and recording a yearly top of $4,094, the leader of altcoins, the ETH token, has recorded a correction of 23.76% in valuation. However, Ethereum price has a YTD of 36.86%, highlighting a positive outlook for this altcoin in the coming time.

The Moving Average Convergence Divergence (MACD) shows a constant flatline in the chart, indicating a weak price action for the leader of altcoins in the market. Furthermore, the averages show a neutral sentiment, indicating uncertainty in future price action.

If the bulls break out of their resistance zone, the ETH price will regain momentum and attempt to test its upper resistance level of $4,000 during the coming month. However, if the bears overpowered the bulls, the price will fall toward its low of $2,630.

Will XRP Price Ever Rise Back Up?

The XRP price has leveled all its gains post-halving, indicating a bearish price sentiment in the crypto industry. Furthermore, the Cross EMA 50/200-day shows a Death Cross in the 1D time frame, highlighting a high possibility of a bearish price action for Ripple token in the coming time.

TradingView: XRP/USDT

The MACD displays a constant green histogram, indicating an increase in the buying pressure within the crypto space. However, the averages show a constant flatline, indicating a mixed sentiment in the crypto industry.

If the market pushes the XRP token above the resistance level of $0.5340, the bulls will regain momentum and prepare to test its upper resistance level of $0.60 during the coming month. Negatively, if the bears continue to dominate the market, it will plunge and fall to test its low of $0.47.

The post Trader Peter Brandt Raises Doubts on Bitcoin Bull Run Continuation appeared first on Coinpedia Fintech News

Renowned trader Peter Brandt has raised doubts about the sustainability of Bitcoin’s ongoing bull market cycle. In a detailed analysis titled “Does history make a case that Bitcoin has topped?” Brandt highlights trends in Bitcoin’s historical price cycles that suggest diminishing momentum over time.

Diminishing Momentum in Bull Cycles

Brandt identifies four significant bull cycles in Bitcoin’s history, with the current surge marking the fifth. He notes a troubling pattern: each successive cycle has experienced diminishing exponential advances, losing approximately 80% of the momentum from the previous cycle.

Applying this trend to the current cycle, Brandt projects a potential peak of around $72,723, a level that has recently been reached in trading. Despite the impact of halving events on Bitcoin’s price, Brandt emphasizes the sobering reality of exponential decay, suggesting a 25% chance that Bitcoin may have already reached its peak for this cycle.

Speculations on Market Top

Brandt speculates on potential price retracements in the event of a market top, foreseeing a decline to the mid-$30,000 range per BTC or even revisiting lows from 2021. However, he views such a correction as potentially bullish in the long term, drawing parallels to similar chart patterns observed in the gold market.

Peter Brandt’s analysis offers valuable insights into the evolving dynamics of Bitcoin’s market cycles and highlights the significance of data-driven analysis in understanding cryptocurrency market trends.

The post Franklin Templeton’s Ethereum ETF Listed on DTCC Despite Expected SEC Rejection appeared first on Coinpedia Fintech News

While rumors have it that the SEC is most likely to reject Ethereum ETFs on the May 23rd deadline, Franklin Templeton’s recent listing of its Ethereum ETFs on the Depository Trust and Clearing Corporation (DTCC) has shocked everyone. 

The “Franklin Ethereum TR Ethereum ETF,” with the code EZET, was added to DTCC after news suggested that the U.S. Securities and Exchange Commission (SEC) might deny its approval for Ethereum-based ETFs.

[PN] FRANKLIN ETHEREUM TR ETHEREUM ETF (EZET) ADDED TO DTCC WEBSITE pic.twitter.com/yj0e10Q1pF

— Phoenix » PhoenixNews.io (@PhoenixTrades_) April 26, 2024

Franklin Templeton’s Ethereum ETF

Franklin Templeton has launched its Ethereum ETF, which is currently listed on the DTCC. The DTCC website’s Create/Redeem column indicates that the ETF is eligible for creation and redemption, two critical aspects for maintaining an ETF’s market price in line with its net asset value. 

However, this listing does not guarantee the SEC’s approval for the spot Ethereum ETF, which will be decided next month. 

Franklin Templeton’s Ethereum ETF listing on DTCC aligns the company with other industry leaders, such as BlackRock, Grayscale, VanEck, and ARK Invest, which all compete in the Ethereum ETF market. 

The firm submitted an S-1 filing to the SEC in February, seeking approval for its spot Ethereum ETF, which would list on the Chicago Board Options Exchange if approved.

Challenges in the Ethereum ETF Landscape

SEC’s Gary Gensler had previously hinted in a CNBC interview that just because the SEC had approved Bitcoin ETFs, there’s no guarantee that the regulators will approve ETH ETFs in the future. 

The agency’s hesitance may also stem from SEC Chair Gary Gensler’s reluctance to clarify whether Ether is a security. 

Franklin Templeton’s Ethereum spot ETF being listed on DTCC does not indicate that it will ultimately be approved by the SEC. 

Some analysts suggest rejection could lead to a lawsuit, similar to the legal challenge that prompted the SEC to reconsider Grayscale’s application for a spot Bitcoin ETF.

Uncertainty Around Ethereum ETFs

The listing on the DTCC website occurs amid widespread speculation that the SEC may not approve Ethereum ETFs within the next month. 

According to sources, the SEC’s discouraging meetings with major players in the crypto industry indicate a likely denial of their applications for listing Ethereum-based ETFs. 

One source said that recent meetings between issuers and the SEC were one-sided, with the SEC displaying limited engagement. This contrasts with the detailed discussions leading up to the approval of spot Bitcoin ETFs in January 2024.

The SEC’s anticipated denial could slow the advancement of Ethereum-based ETFs and dampen industry enthusiasm. Bloomberg ETF analyst Eric Balchunas estimated only a 25% chance of approval for spot Ethereum ETFs, highlighting the agency’s lack of engagement compared to its approach to Bitcoin ETFs.

The post 3 Best Bet Altcoins to Turn $1 to $100 in May appeared first on Coinpedia Fintech News

As we approach mid-2024, significant bullish catalysts such as the launch of Bitcoin Spot ETFs and the Bitcoin Halving have occurred. After such moves, Bitcoin and altcoins are now at a critical juncture.

Despite the potential downside risks, some altcoins show a bullish configuration with the possibility of a 5x increase in value. Can the anticipated bullish surge lead to an uptick in altcoins in May?

Struggling to find such coins? Worry not. Coinpedia brings you the Top 3 best bet altcoins to turn $1 into $100 in May 2024. So read our entire analysis below to find out more. 

CoinFLEX (FLEX)

FLEX, the native token of the CoinFLEX exchange, is renowned for its physical settlement of futures exchanges. It reports a robust daily trading volume typically between $200 million and $400 million USD.

With a market capitalization of approximately $177.7 million, FLEX positions itself at #305 in the crypto market. 

The price performance of FLEX reveals its all-time high at $8.16. Since then, the immense downfall significantly crashed market value by 77.98% to the current price of $1.80. Despite this decline, FLEX has shown some recent recovery, gaining 54.23% over the past week.

Looking ahead, there is immense underlying potential for FLEX, with market analysts and enthusiasts eyeing a possible 10x growth in the upcoming month of May 2024. This anticipated surge is fueled by strategic developments and potential market catalysts within the CoinFLEX ecosystem.

TRIBE (TRIBE)

TRIBE is the governance token for the FEI algorithmic stablecoin, that innovates the stablecoin market with a decentralized solution. Different from the existing stablecoins that incorporate either fiat-collateralized or crypto-collateralized, Fei presents a novel approach. With a $244.7 million market cap, TRIBE ranks at #244 in the crypto market.  

Tribe’s trading volume over the last 24 hours was $524,598, reflecting a rise of 46.50%. In terms of price performance, Tribe hit its all-time high on April 4, 2021, at $2.49. Since reaching this peak, the market value dropped 81.78%, as it trades at $0.4565. Nevertheless, the altcoin has experienced a significant rebound over the past week, with a 63.48% increase.

In the near future, the immense underlying potential predicts a potential 10x growth in the upcoming month of May 2024. 

Contentos (COS)

Contentos (COS) is a cryptocurrency token that operates on the BNB Beacon Chain (BEP2) platform, crafted with the vision of establishing a “decentralized digital content community.” Further, Contentos seeks to incentivize content creation, promote global diversity, and return the rights and value of content to its users.

COS has a market cap of $110.3 million, ranking it #400 globally. The 24-hour trading volume stands at $323.4 million. Moreover, the COS price performance reflects an all-time high at $0.08527, declined by 74.25%, with the current price at $0.02157. Conversely, from the all-time low at $0.00389, COS has seen a dramatic increase of 464.53%.

Over the past week, COS has experienced a notable surge, increasing by 65.35%. This positive momentum reflects the ongoing interest and potential for growth within the decentralized content creation space.

Optimistically, the COS price could hit the $0.20 mark if the broader market recovery boosts the underlying demand for Contentos. 

The post Crypto Expert Predicts a 1000% Increase in BlastUP: Analyzing the Credibility appeared first on Coinpedia Fintech News

Orbid, a famous social media influencer and cryptocurrency expert renowned for identifying high-potential cryptos, recently highlighted BlastUP in a post on X. He suggests that the token is currently undervalued and could soon reach $10.  

The fact that this reputable crypto analyst has added BLP to a must-watch list is a meaningful sign. This article delves into the reasons behind the current hype over BlastUP and evaluates its chances for a head spinning surge ahead. 

BlastUP offers high utility, ensuring smooth DApp Launches on Blast

In early February, BlastUP emerged as the first launchpad on the Blast L2 blockchain, with a mission to supercharge the growth and earnings of crypto startups. This platform offers a variety of innovative tools designed to propel projects forward. 

Join BlastUP to Grow Faster and Earn More

BlastUP’s toolkit includes the Launchpad Accelerator that helps projects create essential documentation and tokenomics to attract funding. Only high-caliber projects are allowed to join the ecosystem, so BlastUP conducts rigorous project screening to create a safe and reliable crypto environment. 

BlastUP Takes Off: First Project Successfully Launched

Affirming its utility as a launchpad platform, BlastUP has recently launched the BlastUP App which hosts the presale of CYBRO. This event is particularly noteworthy as BlastUP, while still in its own presale phase, hosts an alpha sale for CYBRO. This initial launch not only tests the platform’s capabilities but also sets the stage for the official rollout of BlastUP. 

Robust tokemonics add value to BlastUP ($BLP) token

The BlastUP’s native token is $BLP, which grants holders several advantages:

exclusive access to token sales

opportunities for staking 

loyalty benefits during Initial DEX Offerings (IDOs). 

The total supply of 1 billion $BLP tokens is thoughtfully allocated across private sales, pre-sales, public offerings, and other necessary areas like liquidity and marketing, all accompanied by a structured vesting schedule to ensure a smooth introduction of tokens into the market.

$BLP priced below market value during pre-sale 

BlastUP is currently running a presale of its BLP tokens which are now priced lower than their market value following the DEX listing. Over 12,000 people have already joined the presale, and over $5 million have been raised in just two months. The presale runs until the end of May, so there is still a chance to buy these undervalued tokens at an attractive price.

Level Up Your Crypto Portfolio with $BLP Token

BlastUP has ambitious plans with detailed roadmap until 2026

Looking ahead, BlastUP has exciting plans. Its roadmap includes deploying an AI-driven IDO screener, introducing new yield and $BLP staking programs, and launching a Community Marketplace and Incubation program. The BlastUP team is also working on user-friendly tools for better token and liquidity management, such as the AI Launchpad Assistant and liquidity pool analyzers, all aimed at fostering innovation and growth within the crypto community.  

Strong support from BlastUP community drives further growth

BlastUP is active on major social platforms like X, Telegram, and Discord, consistently updating fans with exciting news and announcements. They also hold engaging AMA sessions, which highlight their commitment to transparency and open communication.

The BlastUP community is a vibrant and loyal group, always eager to discuss and praise the platform’s latest features and developments. 

Image source

Summing up: Will BlastUP value soar?

With the backing of key industry influencers like Orbid and a well-structured ecosystem designed to nurture and accelerate the growth of crypto startups, BlastUP exhibits all the hallmarks of a token poised for significant increase in value. The token’s strategic utility in facilitating DApp launches and its robust tokemonics that include staking opportunities make it an attractive asset. Coupled with the enthusiastic and growing community support, these factors strongly suggest that $BLP is likely to exceed expectations in the cryptocurrency market.  

The post Bitcoin (BTC) Price At Risk Of Dropping 20% In Coming Month appeared first on Coinpedia Fintech News

The trajectory of Bitcoin’s price has been a subject of intense scrutiny, with former Grayscale Director Phil Bonello offering insights hinting at a potential crash to the $52,000 level. Let’s analyze where Bitcoin is heading next.

– maybe a 20% chance BTC drops to $52k– Inflation is the boogie man, war, Yen is breaking, etc– fiscal spending is only going in one direction– alts have already dropped 50%+ in many cases and have retested supports– ETF flows are shit, but BTC is absorbing it well, and they… pic.twitter.com/yT0vGOOOyt

— Phil Bonello (@PhilJBonello) April 26, 2024

Market Synopsis: Bitcoin to Drop at $52K?

Amidst growing concerns about inflation, geopolitical tensions, and the performance of alternative cryptocurrencies, Bonello outlined several key points in a recent post on X.

He suggested a 20% chance of Bitcoin dropping to $52,000, citing factors such as inflation concerns, fiscal spending trends, and the performance of altcoins. Bonello emphasized growing inflation as a significant concern, along with ongoing geopolitical tensions and instability in the Yen, which could impact the crypto market.

Moreover, Bonello talks about the drop in altcoins, with many dropping by over 50% and retesting support levels. Despite weak Bitcoin ETF flows, he shows confidence in BTC’s resilience in overcoming such movements, foreseeing substantial increases in ETF activity as the year progresses.

Calling it a bear trend, Bonello also noted that open interest in Bitcoin has returned to levels seen when the price was at $50,000, signaling a significant drop. Various market indicators, such as funding, basis, and skew, currently appear neutral, according to him.

Plus, crypto analyst Michaël van de Poppe offered a bearish outlook on Bitcoin, suggesting a prolonged period of slow sideways movement for the next 3-6 months, with further corrections possible. However, he anticipates further corrections in Bitcoin’s price but suggests that altcoins may outperform during this period. Van de Poppe also notes the potential for a rally in Bitcoin’s price if there is a surge in whale transactions.

Bitcoin Price Analysis

The recent decline in Bitcoin’s price, dropping below $63,000, reflects the concerns raised by Bonello and van de Poppe. Long liquidations exacerbated the decline, with over $34 million in liquidations recorded in the past 24 hours.

At present Bitcoin’s price is nearing the crucial $60K support. If it breaks, it might drop to $52K. But if it rises above $70K, a new all-time high could be on the horizon. Watch these levels for Bitcoin’s next move.

Additionally, a decrease in whale activity since March 14 has been noted, potentially contributing to the bearish trend. However, analysts suggest that a surge in whale transactions could ignite a rally in the Bitcoin price.

The post Forbes Lists 20 Zombie Tokens With A Market Value Of More Than $1B appeared first on Coinpedia Fintech News

Forbes listed 20 zombie coins, calling them good-for-nothing blockchains — They are unproven and have little utility other than speculative crypto trading. Among these are XRP, ADA, BCH, LTC, ICP, ETC, XLM, STX, KAS, THETA, FTM, XMR, AR, ALGO, FLOW, EGLD, BSV, MINA, XTZ, EOS. Despite high valuations, these tokens face questions about real-world adoption. Are they truly alive?

Let’s uncover the truth!

Crypto Zombies on Rise

Forbes’ comprehensive report highlighted 20 “zombie blockchains” within the cryptocurrency market, including Ripple’s XRP and Ethereum Classic. Despite their high market valuations, these cryptocurrencies demonstrate minimal real-world utility and user adoption.

To everyone’s shock, Forbes labeled Ripple Labs, the firm behind XRP, as a significant crypto zombie. Despite XRP’s daily trading volume of approximately $2 billion, Forbes claims that the token’s main function is “speculative” and lacks substantial utility.

Notably, Forbes has reported that 50 blockchains, excluding Bitcoin (BTC) and Ethereum (ETH), are valued at over $1 billion each, with at least 20 termed as “functional zombies.” These 20 blockchains, with “limited user bases,” hold a collective market value of $116 billion.

Moving on to the detailed breakdown, they highlighted bigger projects like Ethereum Classic (ETC), Tezos, and Algorand, among others. Despite their high market capitalizations, their fee earnings raise doubts about their utility. For instance, ETC’s fee generation of less than $41,000 in 2023 contrasts with its $4.6 billion market value. 

Tezos, having raised $230 million in a 2017 ICO, now holds a $1.2 billion market cap, but its fee earnings for 2023 were only $177,653. Algorand, once touted as an “Ethereum killer,” faces similar challenges, with blockchain transaction fees totaling just $63,000 in 2023, despite a $2 billion market cap and $500 million treasury.

Analyzing Zombie Blockchains

The term “zombie blockchains” characterizes these projects, which continue to operate and trade without evidence of fulfilling practical purposes. Among the cryptocurrencies scrutinized, Ripple’s XRP stands out, initially positioned as a challenger to the SWIFT banking network for international transfers but struggling to realize its ambitions.

Interestingly, Forbes’ analysis raises doubts about the widening gap between market valuation and practical approach within the crypto space. It also examines emerging contenders labeled as “Ethereum killers,” such as Tezos and Cardano, which face challenges in achieving widespread adoption despite their technological advancements and substantial valuations.

However, operating without regulatory oversight or strong governance modules puts these cryptocurrencies at risk, with Ethereum Classic’s trading activity after security breaches serving as a cautionary example. 

Forbes flagged these cryptocurrencies as “zombies” due to a gap between their high valuations and low real-world use. Though it may seem harsh for growing projects like XRP and Cardano, they might struggle with utility but others may have strong community support. 

The post MemeCoin Mania: Crypto Expert Forecasts 100X Growth Potential for Shiba Inu  appeared first on Coinpedia Fintech News

The market for meme coins, including Shiba Inu (SHIB), is poised for potentially massive growth, according to insights from Andrew Kang, co-founder of Mechanism Capital. Kang’s projections suggest that Shiba Inu and similar tokens could see their market capitalization increase by a staggering 100x. 

However, this ambitious forecast is driven by the growing interest and involvement of venture capitalist (VC) firms in these alternative cryptocurrencies.

Paradigm owns $2m SHIBInstitutional allocators will slowly move from <1% to 1% to 5% to 10% to 15%+This will drive the next 10-100x in memecoin market capBut Kelly optimizing means max betting before that happens, not after https://t.co/FPlGK1noaC

— Andrew Kang (@Rewkang) April 25, 2024

Venture Capitalists Eye Meme Coins

Venture capitalists are increasingly looking towards meme coins like Shiba Inu as viable investment opportunities within the crypto space. Recent disclosures of cryptocurrency holdings by major VC firms, such as Symbolic Capital Partners, highlight a notable allocation to SHIB tokens. Symbolic Capital Partners holds approximately 65.97 billion SHIB tokens, valued at $1.64 million, representing a strategic bet on the future potential of meme coins.

Study the Largest Venture Capital Firms on ArkhamTrack the investments of the top-tier VC firms labeled on Arkham in one place.You can see portfolio breakdowns & on-chain holdings for:ParadigmAndreessen Horowitz (a16z)Spartan GroupDragonfly CapitalAnimoca BrandsMany… pic.twitter.com/8BE5zufyrL

— Arkham (@ArkhamIntel) April 25, 2024

Kang believes that institutional interest and investment in meme coins like Shiba Inu will catalyze significant market cap expansion, potentially leading to a tenfold to 100-fold increase in valuation. 

This transformative growth trajectory would involve incremental shifts in institutional portfolio allocations towards meme coins, reshaping the landscape of cryptocurrency investments.

Market Cap Projections

The revelation of substantial SHIB holdings by VC firms highlights a broader trend of institutional involvement in the crypto market beyond traditional assets like Bitcoin and Ethereum. The current market capitalization of Shiba Inu stands at $14.61 billion, ranking it among the top cryptocurrencies. 

Meanwhile, a 100X increase in market cap, as envisioned by Kang, would position SHIB at an astonishing $1.46 trillion, surpassing the market share of many established cryptocurrencies.

Potential Price Pump

Assuming SHIB’s market supply remains constant, a $1.46 trillion market cap would translate to a price of $0.00247 per SHIB, a significant leap from its current value of $0.0000247.

However, this projection highlights the transformative potential of meme coins and their increasing relevance in the broader cryptocurrency ecosystem.

The post BEFE Coin Poised for Remarkable Growth: Could Reach $0.01 appeared first on Coinpedia Fintech News

BEFE Coin is all heated up with a northbound move, suggesting the most promising signs for excellent growth. According to market analysis and prediction, this cryptocurrency may hit the $0.01 figure pretty soon. This rise further highlights the rapidly growing acceptance and potential of the currency by traders, drawing interest from investors for its development.

Decoding the BEFE Coin

BEFE, the memecoin, has been involved in some activity recently in the crypto field, showing that the market is worth $0.0001447 with a percentage increase of 9.4 in a day. The price of BEFE in the last week has gained 1.2%, showing a jump by one point despite high volatility. Out of form, the world cryptocurrency market increased by over 4.5 times, which displayed a contraction of 3.00%, and equally outperformed its other contemporaries within BNB Chain Ecosystem cryptocurrencies. BEFE had an all-time high at the value of $0.001128 4 months ago, an impressive peak to look at, but currently, it’s -87.22% down from the level.

Nonetheless, even after the recent indications of slowing activities within the market, given a 7.30% fall in trading volume over the past 24 hours to hit $264,846, the fully diluted valuation stands at $14,444,671. The largest part of BEFE tokens are exchanged on decentralized exchanges, such as Pancakeswap V3 (BSC), and centralized exchanges, including the most activity happens with the pair BEFE/WBNB on AscendEX (BitMax). Depicting strong performance with high and active trading volumes in the memecoin sector, the coin is seen indicating signs of increasing interest and likelihood of further appreciation.

BEFE’s Last Months Performance

Last month’s trading volumes and prices for BEFE had huge variations, showing that this is a great asset of market interest and growth potential. Starting on March 28, 2024, when BEFE had a price of $0.00048033, this coin was able to register its peak price on April 6, 2024. It was on that day when the price closed at $0.00045260 or nearly 16% from the opening price of April 5, 2024. This trend continued upward until it reached a high value of $0.00041845 on April 7, 2024.

The trading volume of BEFE also mimicked that of the price, reaching the highest trading volume at $454,794 on April 5, 2024, pointing towards high investor interest and active trading. The recorded high of the month’s high was at $0.00051537 on 4th April 2024, marking a staggering spike of 12.3% from the prior close, mirroring strong investor confidence and speculation.

Finale: Is BEFE better than the rest?

What sets BEFE apart from other memecoins is this token is community-driven with strong meme culture, giving it more visibility and attractiveness to the younger investor. BEFE has also managed to capture the whimsical and viral nature of internet culture, making for a meme coin that’s a bit more offbeat than most.

Investors should be very cautious and do decent market research before investing in cryptocurrencies like BEFE. Since meme coins are normally volatile, it calls for the need to keep pace with the latest market trends and possibly risks that are enshrined in making such an investment.

The post Bitgert Coin Price Could Skyrocket +2000% if Major Partnership is Announced appeared first on Coinpedia Fintech News

Getting profit from the cryptocurrency ecosystem entails having a good strategy to make that possible. These strategies involve setting up pretensions, having an investment plan that could be long term or short term and making the right choice of cryptos to buy. 

Choosing the right coin to buy can be a veritable tasking duty for any investor considering the multitudinous options available in the space while investors have to choose within their fiscal capacity.

Bitgert performance has been really impressive as it keeps experiencing a surge and offering solutions to investors in the industry. There have been speculations by many that a massive uptrend is inevitable with the right partnerships

In the course of this article, we will look at the triggers of Bitgert rise and how good partnership can push it forward.

How Mainstream Acceptance Of Bitgert Gives It A Push To The Top

Meeting investors’ needs gives systems an advantage over others to perform better and allows further investors crucial interest into the design. With mainstream acceptance, it’s easier for a design to grow if its growth is touched off by the right serviceability. This impact has been seen through multitudinous other memecoins that acquired frequency and at last ended up being a triumph. 

The perceivability of Bitgert as of late plays had a vital impact in pushing its valuation advanced, investors are beginning to see it as a design worth investing in. A necessary factor to the mainstream acceptance of Bitgert is as a result of its accommodating nature with other chains, particularly Ethereum, which simplifies smart contracts and makes investors enjoy the immolations at a scalable pace. 

These immolations that make blockchain experience more have amped hastily appropriations, as fiscal backers have chosen Bitgert and this has led to the soaring price valuation being endured this month.  

Protrusions On Increase In Price Value By Experts Resulting From Good Partnerships

Bitgert still has a chance to perform better than ever despite passing massive uptrends in history. The request cap of Bitgert is still at a position that favors the circumstance of a huge uptrend this month. With the serviceability in place in Bitgert which impeccably suits investors needs, numerous experts are positive that an upturn for the coin is ineluctable. 

Bitgert has been able to partner with good projects. It’s partnership with Forward has steered the project forward. The partnership has been symbiotic as investors can enjoy the privilege from Forward by being able to create Dapps to any customizable taste while still enjoying Bitgert’s scalability and interoperability.

This has been instrumental in Bitgert’s progress so far and with more partnerships, Bitgert could hit over 20000%. 

Conclusion 

With the rate at which Bitgert coin is passing a growth in value, it’s crystal clear it has no intention of stopping with the commendable partnerships. However, research should always be conducted. Know more on Bitgert here.

The post ChatGPT Predicts Shiba Inu (SHIB) Price For May: What’s In Store For The Memecoin appeared first on Coinpedia Fintech News

The underlying demand is rising, and sideline traders and institutional investors anticipate a bullish recovery. Surprisingly, the top choices for best performers are meme coins like Dogecoin and Shiba Inu, known for their massive price jumps. 

Despite a weak bullish trend in the past few weeks, the general trend in the SHIB token is sideways to bearish. A potential breakout on the cards teases a massive upspring in Shiba inu coin prices with increased momentum. 

Moreover, for further insight into the potential SHIB price trend in May, we consulted ChatGPT 4.0 to forecast the meme coin’s performance.

Let’s review the current performance and delve into ChatGPT’s SHIB price prediction one month after the Bitcoin Halving.

SHIB Price Performance

With negative 18% returns in the last 30 days, the SHIB price trend reflects an increased bearish influence. The minor increase in selling pressure leads to a declining trend and attempts to undermine the massive jump in early March. 

Tradingview

However, the 4H chart reflects a triangle formation with a solid support trendline, giving a bullish reversal possibility. Currently, the SHIB price trades at $0.00002470, close to the 50% Fibonacci level, support trendline, and the $0.00002450 demand zone. 

As the meme coin trades close to multiple bullish catalysts, a reversal is possible down the line, teasing a bullish break. With such a breakout, the SHIB price could break the $0.00004382 peak and surpass $0.000050. 

To confirm our price chart analysis, we asked ChatGPT to predict the SHIB price trend in May. Here’s what the AI predicted for Shiba Inu in May 2024.

ChatGPT’s Bullish View on Shiba Inu Coin Price

Detecting the symmetrical triangle pattern, the AI predicts two potential scenarios for the meme coin. With a possible bullish break, the SHIB price could skyrocket beyond the psychological mark of $0.000050.

Conclusion

In short, the technical analysis and the ChatGPT price prediction share a similar bullish viewpoint, teasing a potential jump beyond the psychological mark of $0.000052.