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VeChain Unveils MaaS Platform As Its Financial Reports BoomVeChain introduces a MaaS platform for asset tokenization in collaboration with Gresini Racing. The launch of MaaS aligns with VeChain’s significant financial growth and continued engagement in research initiatives. MaaS aims to democratize blockchain access for businesses across different sectors. VeChain has introduced a groundbreaking platform, Marketplace-as-a-Service (MaaS), aimed at simplifying asset tokenization without the need for complex coding. This initiative seeks to make blockchain technology more accessible to businesses and individuals alike. VeChain also announced MotoGP champions Gresinin Racing as its first enterprise client.  We're excited to announce our new digital asset tokenization platform – MaaS – is now live with it's first enterprise user – MotoGP champions; Gresini Racing!MaaS' launch is timely as we look ahead and build tools to onboard a rapidly tokenizing world, with projections of $16… pic.twitter.com/iN5yT1VKC3 — vechain (@vechainofficial) March 27, 2024 Gresini Racing intends to use MaaS to engage its fanbase with digital collectibles and NFTs, utilizing features such as social media login and support for fiat currencies to ensure user-friendliness. Carlo Merlini, Gresini Racing’s Commercial and Marketing Director, sees blockchain as a means to enhance fan engagement and honor the legacy of the team’s founder, Fausto Gresini. </blockquote>“Web3 is a new world, one that we wanted to be part of to build stronger engagement with our fanbase and, on a wider scale, the entire MotoGP community, who are increasingly digitally focused. “</blockquote> Interestingly launch of MaaS coincides with the release of VeChain’s latest financial report which a positive trajectory over the final two quarters of 2023. During this period, VeChain experienced significant growth in Treasury holdings, reaching $264,496,981.70 by the end of Q3 and $440,061,754.10 by the end of Q4.  This financial position reflects VeChain’s continued expansion efforts, including marketing, core dev team enhancement, tool development, partnership expansions, and pioneering work in sustainability, enterprise, and Web2 adoption. In the latter half of 2023, VeChain remained actively engaged in cutting-edge research initiatives collaborating with Nobel Laureate Sir Konstantin Novoselov and Professor Qi Ge, a leading researcher in 2D/nanomaterials. The post VeChain Unveils MaaS Platform As its Financial Reports Boom appeared first on Coin Edition.

VeChain Unveils MaaS Platform As Its Financial Reports Boom

VeChain introduces a MaaS platform for asset tokenization in collaboration with Gresini Racing.

The launch of MaaS aligns with VeChain’s significant financial growth and continued engagement in research initiatives.

MaaS aims to democratize blockchain access for businesses across different sectors.

VeChain has introduced a groundbreaking platform, Marketplace-as-a-Service (MaaS), aimed at simplifying asset tokenization without the need for complex coding. This initiative seeks to make blockchain technology more accessible to businesses and individuals alike. VeChain also announced MotoGP champions Gresinin Racing as its first enterprise client. 

We're excited to announce our new digital asset tokenization platform – MaaS – is now live with it's first enterprise user – MotoGP champions; Gresini Racing!MaaS' launch is timely as we look ahead and build tools to onboard a rapidly tokenizing world, with projections of $16… pic.twitter.com/iN5yT1VKC3

— vechain (@vechainofficial) March 27, 2024

Gresini Racing intends to use MaaS to engage its fanbase with digital collectibles and NFTs, utilizing features such as social media login and support for fiat currencies to ensure user-friendliness.

Carlo Merlini, Gresini Racing’s Commercial and Marketing Director, sees blockchain as a means to enhance fan engagement and honor the legacy of the team’s founder, Fausto Gresini.

</blockquote>“Web3 is a new world, one that we wanted to be part of to build stronger engagement with our fanbase and, on a wider scale, the entire MotoGP community, who are increasingly digitally focused. “</blockquote>

Interestingly launch of MaaS coincides with the release of VeChain’s latest financial report which a positive trajectory over the final two quarters of 2023. During this period, VeChain experienced significant growth in Treasury holdings, reaching $264,496,981.70 by the end of Q3 and $440,061,754.10 by the end of Q4. 

This financial position reflects VeChain’s continued expansion efforts, including marketing, core dev team enhancement, tool development, partnership expansions, and pioneering work in sustainability, enterprise, and Web2 adoption.

In the latter half of 2023, VeChain remained actively engaged in cutting-edge research initiatives collaborating with Nobel Laureate Sir Konstantin Novoselov and Professor Qi Ge, a leading researcher in 2D/nanomaterials.

The post VeChain Unveils MaaS Platform As its Financial Reports Boom appeared first on Coin Edition.
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SingularityNET (AGIX) Hits 7-Day High on Merger Announcement, Indicator Foresee Bull RallyAGIX’s price hits a 7-day high at $1.39, up 28% over the month amid merger news. AGIX volume surges by 97.27%, and the market cap reaches $1.78 billion. Bollinger bands widen on the AGIX chart, signaling increased volatility. Since the news of a merger of SingularityNET (AGIX), Fetch.ai (FET), and Ocean Protocol (OCEAN) into AltSignals (ASI) Token, which would have a diluted valuation of $7.5 billion, AGIX has been on a positive surge. As a result, the AGIX bullish momentum regained strength, sending the price to a 7-day high of $1.39 after finding support at an intra-day low of $1.20. At press time, AGIX was trading at $1.39, up 7.98% in the prior 24 hours and 28% in the previous month. If the positive momentum breaks over the $1.39 resistance, the next resistance levels to watch for are $1.50 and $1.60, as investors continue to believe in the potential of AltSignals (ASI) Token. However, if the price fails to break over $1.39, there may be a brief pullback down to the $1.20 support level before trying another positive rise. AGIX/USD 24-hour price chart (source: CoinStats ) During the rise, AGIX’s market capitalization and 24-hour trading volume increased by 7.595% and 97.27%, respectively, to $1,775,791,076 and $544,730,216. This jump reflects increased interest and investment in the AGIX token, with the potential for more gains if the bullish trend continues. AGIX/USD Technical Analysis On the AGIXUSD 4-hour price chart, the Bollinger bands are widening, with the upper and lower bands touching $1.3686 and $1.07931, respectively.  This trend points to heightened volatility in the near future, with the upper and lower bands possibly serving as resistance and support levels for price moves. However, as the bullishly engulfed candlestick has breached the upper Bollinger band, the upward trend may continue in the short term. Conversely, this might suggest an overbought position, which could result in a price downturn. AGIX/USD 4-hour price chart (source: TradingView ) The Money Flow Index (MFI) rating of 78 lends validity to the overbought circumstances, indicating that the asset’s present upward momentum may be reaching its limit. As a result, traders should take care and constantly monitor market movement for indications of a reversal or correction. However, with the stochastic RSI moving above its signal line at 42.89, there is still room for more upward movement before a correction happens. Furthermore, the Chaikin Money Flow (CMF), which is now in the negative area with a rating of -0.06, is rising, indicating that selling pressure may be diminishing and purchasers may soon reclaim control of the asset’s price movement. This suggests that, while prudence is advised, there is potential for more positive momentum soon. The post SingularityNET (AGIX) Hits 7-Day High on Merger Announcement, Indicator Foresee Bull Rally appeared first on Coin Edition.

SingularityNET (AGIX) Hits 7-Day High on Merger Announcement, Indicator Foresee Bull Rally

AGIX’s price hits a 7-day high at $1.39, up 28% over the month amid merger news.

AGIX volume surges by 97.27%, and the market cap reaches $1.78 billion.

Bollinger bands widen on the AGIX chart, signaling increased volatility.

Since the news of a merger of SingularityNET (AGIX), Fetch.ai (FET), and Ocean Protocol (OCEAN) into AltSignals (ASI) Token, which would have a diluted valuation of $7.5 billion, AGIX has been on a positive surge. As a result, the AGIX bullish momentum regained strength, sending the price to a 7-day high of $1.39 after finding support at an intra-day low of $1.20. At press time, AGIX was trading at $1.39, up 7.98% in the prior 24 hours and 28% in the previous month.

If the positive momentum breaks over the $1.39 resistance, the next resistance levels to watch for are $1.50 and $1.60, as investors continue to believe in the potential of AltSignals (ASI) Token. However, if the price fails to break over $1.39, there may be a brief pullback down to the $1.20 support level before trying another positive rise.

AGIX/USD 24-hour price chart (source: CoinStats )

During the rise, AGIX’s market capitalization and 24-hour trading volume increased by 7.595% and 97.27%, respectively, to $1,775,791,076 and $544,730,216. This jump reflects increased interest and investment in the AGIX token, with the potential for more gains if the bullish trend continues.

AGIX/USD Technical Analysis

On the AGIXUSD 4-hour price chart, the Bollinger bands are widening, with the upper and lower bands touching $1.3686 and $1.07931, respectively.  This trend points to heightened volatility in the near future, with the upper and lower bands possibly serving as resistance and support levels for price moves.

However, as the bullishly engulfed candlestick has breached the upper Bollinger band, the upward trend may continue in the short term. Conversely, this might suggest an overbought position, which could result in a price downturn.

AGIX/USD 4-hour price chart (source: TradingView )

The Money Flow Index (MFI) rating of 78 lends validity to the overbought circumstances, indicating that the asset’s present upward momentum may be reaching its limit. As a result, traders should take care and constantly monitor market movement for indications of a reversal or correction. However, with the stochastic RSI moving above its signal line at 42.89, there is still room for more upward movement before a correction happens.

Furthermore, the Chaikin Money Flow (CMF), which is now in the negative area with a rating of -0.06, is rising, indicating that selling pressure may be diminishing and purchasers may soon reclaim control of the asset’s price movement. This suggests that, while prudence is advised, there is potential for more positive momentum soon.

The post SingularityNET (AGIX) Hits 7-Day High on Merger Announcement, Indicator Foresee Bull Rally appeared first on Coin Edition.
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Ethereum Validators Surpass 1M With $117,090,569,200 LockedEthereum validators have surpassed one million, locking over $117 billion. Lido stands out among the primary validators, holding the largest share at 30%. The most significant inflows to the ETH staking contract have been attributed to Ether.Fi, Lido, and Renzo. Recent statistics have shown that validators on the Ethereum network have crossed the 1 million threshold, with multi-billion dollars locked on the Beacon Chain. Evan Van Ness, Ethereum’s Former Chief Decentralization Officer, called attention to this development in a recent post on X. Van Ness cited statistics aggregated by analyst Hildobby via the data analytics platform Dune, which shows that ETH validators now exceed 1,000,911. Over 1 million Ethereum validators👀 pic.twitter.com/5Rlc6uB8EC — Evan Van Ness 🧉 (@evan_van_ness) March 27, 2024 At press time, the updated records show that Ethereum has 1,002,488 validators who have staked 32,079,608 ETH tokens on the network. Considering ETH’s market value of $3,650, the monetary value of the staked tokens amounts to a staggering $117,090,569,200. Lido Finance stands out among the primary validators within the Ethereum network, holding the largest share at 30%. Following closely are centralized exchanges Coinbase and Binance, with 14% and 3.85% respectively. Notable contributors to the roster of ETH validators also include Kraken, Upbit, and Frax Finance. According to data from the on-chain analytics platform Nansen, there has been a consistent increase in the number of ETH tokens locked in the Ethereum staking contract over the past year. For instance, the Ethereum staking contract held 28.98 million tokens two months ago. Also, a year ago, it contained 18.4 million ETH. The latest record indicates that this figure has nearly doubled since last year. Over the past three months, the most significant inflows to the Ethereum staking contract have been attributed to Ether.Fi, Lido, Renzo, Mantle, and Everstake. Among these, Ether.Fi stands out with the highest net positive flow of 776,767 ETH, equivalent to over $2.83 billion. Lido witnessed substantial net inflows of $1.67 billion through the same period. The post Ethereum Validators Surpass 1M with $117,090,569,200 Locked appeared first on Coin Edition.

Ethereum Validators Surpass 1M With $117,090,569,200 Locked

Ethereum validators have surpassed one million, locking over $117 billion.

Lido stands out among the primary validators, holding the largest share at 30%.

The most significant inflows to the ETH staking contract have been attributed to Ether.Fi, Lido, and Renzo.

Recent statistics have shown that validators on the Ethereum network have crossed the 1 million threshold, with multi-billion dollars locked on the Beacon Chain. Evan Van Ness, Ethereum’s Former Chief Decentralization Officer, called attention to this development in a recent post on X.

Van Ness cited statistics aggregated by analyst Hildobby via the data analytics platform Dune, which shows that ETH validators now exceed 1,000,911.

Over 1 million Ethereum validators👀 pic.twitter.com/5Rlc6uB8EC

— Evan Van Ness 🧉 (@evan_van_ness) March 27, 2024

At press time, the updated records show that Ethereum has 1,002,488 validators who have staked 32,079,608 ETH tokens on the network. Considering ETH’s market value of $3,650, the monetary value of the staked tokens amounts to a staggering $117,090,569,200.

Lido Finance stands out among the primary validators within the Ethereum network, holding the largest share at 30%. Following closely are centralized exchanges Coinbase and Binance, with 14% and 3.85% respectively. Notable contributors to the roster of ETH validators also include Kraken, Upbit, and Frax Finance.

According to data from the on-chain analytics platform Nansen, there has been a consistent increase in the number of ETH tokens locked in the Ethereum staking contract over the past year.

For instance, the Ethereum staking contract held 28.98 million tokens two months ago. Also, a year ago, it contained 18.4 million ETH. The latest record indicates that this figure has nearly doubled since last year.

Over the past three months, the most significant inflows to the Ethereum staking contract have been attributed to Ether.Fi, Lido, Renzo, Mantle, and Everstake. Among these, Ether.Fi stands out with the highest net positive flow of 776,767 ETH, equivalent to over $2.83 billion. Lido witnessed substantial net inflows of $1.67 billion through the same period.

The post Ethereum Validators Surpass 1M with $117,090,569,200 Locked appeared first on Coin Edition.
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Solana Dominates Altcoin Market: Are ETH, ADA and LINK Bulls NGMI?Cardano bull Dan Gambardello addressed Solana’s bullish performance against ETH, ADA, and LINK. SOL has seen over 850% gain in six months, while ETH, ADA, and LINK see less comparable gains. Gambardello argued the altcoin season would commence after halving, and the game would change. Solana (SOL) has been an extraordinary performer in the crypto scene for the past six months. Since last October, it has recorded over 850% gain, soaring from around $21 to above $200. Meanwhile, rivals such as Chainlink (LINK) gained about 200% during the same period. Ethereum (ETH) and Cardano (ADA) have witnessed gains exceeding 100%. Notably, Solana’s astronomic gains took place before the Bitcoin’s halving, with the much-awaited altcoin season in the initial phase. This has led to concern about whether it’s game over for other top market contenders as Solana continues to dominate the spotlight among the most prominent cryptos. Weighing in on this conversation is the popular Cardano bull Dan Gambardello. In a recent analysis, Gambardello attempted to clarify the performance of Ethereum, Cardano, and Chainlink in relation to Solana.  SOLANA Dominates! GAME OVER For Ethereum, Cardano, Chainlink?Intro 00:00Altcoins looking pathetic? 00:20Solana has been making moves 1:10Understanding altcoin season 1:50Did you miss the boat? 3:00Chainlink did this last cycle 3:30Cardano doing nothing? 4:20Ethereum 5:05… pic.twitter.com/eXbLRtTQ7I — Dan Gambardello (@cryptorecruitr) March 27, 2024 Gambardello cited market data suggesting Solana is the only asset among the most valuable tokens outperforming Bitcoin. While he praised SOL, the analyst argued that the development is not unprecedented.  On this premise, he recalled the price trajectory of Chainlink in the last bull cycle. Gambardello emphasized that LINK similarly experienced explosive gains of up to 1,000% gains pre-Bitcoin halving. In contrast, contenders like ADA, SOL, and ETH did almost nothing while LINK mooned. Meanwhile, the analyst noted that Chainlink maintained its bullish momentum even after Bitcoin halved in 2020 but soon lost its steam.  Essentially, Gambardello sought to emphasize that Solana’s lone bullish trajectory should not overly concern market participants to the extent that they believe other coins will never have their moment.  He stressed that the altcoin season is poised to commence after Bitcoin halves, and the game will really change. The post Solana Dominates Altcoin Market: Are ETH, ADA and LINK Bulls NGMI? appeared first on Coin Edition.

Solana Dominates Altcoin Market: Are ETH, ADA and LINK Bulls NGMI?

Cardano bull Dan Gambardello addressed Solana’s bullish performance against ETH, ADA, and LINK.

SOL has seen over 850% gain in six months, while ETH, ADA, and LINK see less comparable gains.

Gambardello argued the altcoin season would commence after halving, and the game would change.

Solana (SOL) has been an extraordinary performer in the crypto scene for the past six months. Since last October, it has recorded over 850% gain, soaring from around $21 to above $200. Meanwhile, rivals such as Chainlink (LINK) gained about 200% during the same period. Ethereum (ETH) and Cardano (ADA) have witnessed gains exceeding 100%.

Notably, Solana’s astronomic gains took place before the Bitcoin’s halving, with the much-awaited altcoin season in the initial phase. This has led to concern about whether it’s game over for other top market contenders as Solana continues to dominate the spotlight among the most prominent cryptos.

Weighing in on this conversation is the popular Cardano bull Dan Gambardello. In a recent analysis, Gambardello attempted to clarify the performance of Ethereum, Cardano, and Chainlink in relation to Solana. 

SOLANA Dominates! GAME OVER For Ethereum, Cardano, Chainlink?Intro 00:00Altcoins looking pathetic? 00:20Solana has been making moves 1:10Understanding altcoin season 1:50Did you miss the boat? 3:00Chainlink did this last cycle 3:30Cardano doing nothing? 4:20Ethereum 5:05… pic.twitter.com/eXbLRtTQ7I

— Dan Gambardello (@cryptorecruitr) March 27, 2024

Gambardello cited market data suggesting Solana is the only asset among the most valuable tokens outperforming Bitcoin. While he praised SOL, the analyst argued that the development is not unprecedented. 

On this premise, he recalled the price trajectory of Chainlink in the last bull cycle. Gambardello emphasized that LINK similarly experienced explosive gains of up to 1,000% gains pre-Bitcoin halving.

In contrast, contenders like ADA, SOL, and ETH did almost nothing while LINK mooned. Meanwhile, the analyst noted that Chainlink maintained its bullish momentum even after Bitcoin halved in 2020 but soon lost its steam. 

Essentially, Gambardello sought to emphasize that Solana’s lone bullish trajectory should not overly concern market participants to the extent that they believe other coins will never have their moment.  He stressed that the altcoin season is poised to commence after Bitcoin halves, and the game will really change.

The post Solana Dominates Altcoin Market: Are ETH, ADA and LINK Bulls NGMI? appeared first on Coin Edition.
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Bitcoin Old Guard Paves Way for New Whales As Prices Surge Over $70KOld Bitcoin whales’ are selling to new institutional players, reshaping market dynamics. Bitcoin may surge 10% to $77K if it holds above the $70K threshold. BTC’s 24-hour trading volume has spiked by 25%, reaching $42.392 billion. The market activity of Bitcoin has drawn attention as the changes in ownership patterns have become evident. On-chain data reveals that old established Bitcoin holders, known as ‘old whales,’ are transferring their Bitcoins to new institutional investors, implying a shift in market dynamics. Notably, this movement of Bitcoin is happening between these large-scale holders, known as ‘whales,’ and not spreading widely among retail investors. On the same accord, a chart from analyst Axel Adler Jr., shared by Ki Young Ju, CEO of CryptoQuant, captures the shifting dynamics between investor classes.  Old whales are selling #Bitcoin to new whales(TradFi), not retail investors. This can be clearly observed on-chain.Chart by @AxelAdlerJr pic.twitter.com/L8tWWvcmfb — Ki Young Ju (@ki_young_ju) March 28, 2024 The chart specifically compares the supply and demand trends of new versus established Bitcoin investors over an extended period. This distinction between new and established investors is crucial, as it highlights the growing interest from traditional financial institutions in the crypto space. Simultaneously, technical analysis from other sources, such as Ali Martinez, suggests that Bitcoin is on the verge of a bullish breakout. Observations of a ‘bull flag’ pattern on the 4-hour chart hint at a possible significant price surge.  #Bitcoin appears to be breaking out of a bull flag on the 4-hour chart! If $BTC holds above $70,000, we could see a surge of nearly 10% to a new all-time high of $77,000! pic.twitter.com/MPVB70p9DU — Ali (@ali_charts) March 28, 2024 Based on this outlook, if Bitcoin’s price holds above the $70K level, it could experience an increase of around 10%, reaching a new all-time high of $77K. In tandem with the positive outlook for crypto, Bitcoin has gained a 1.23% rise during the previous 24-hour period. BTC/USD 24-Hour Chart (Source: CoinMarketCap) As of press time, Bitcoin’s price has reached $70.62K. This upswing comes despite the coin experiencing some volatility earlier in the week. Alongside the rise in its price, Bitcoin’s market capitalization has climbed by 1.32%, reaching a notable $1.389 billion.  Complementing these gains, there has been a significant uptick in activity, as reflected by the 25.02% increase in intraday trading volume, which has surged to $42.392 billion, signaling heightened investor interest and market movement. The post Bitcoin Old Guard Paves Way for New Whales As Prices Surge Over $70K appeared first on Coin Edition.

Bitcoin Old Guard Paves Way for New Whales As Prices Surge Over $70K

Old Bitcoin whales’ are selling to new institutional players, reshaping market dynamics.

Bitcoin may surge 10% to $77K if it holds above the $70K threshold.

BTC’s 24-hour trading volume has spiked by 25%, reaching $42.392 billion.

The market activity of Bitcoin has drawn attention as the changes in ownership patterns have become evident. On-chain data reveals that old established Bitcoin holders, known as ‘old whales,’ are transferring their Bitcoins to new institutional investors, implying a shift in market dynamics.

Notably, this movement of Bitcoin is happening between these large-scale holders, known as ‘whales,’ and not spreading widely among retail investors. On the same accord, a chart from analyst Axel Adler Jr., shared by Ki Young Ju, CEO of CryptoQuant, captures the shifting dynamics between investor classes. 

Old whales are selling #Bitcoin to new whales(TradFi), not retail investors. This can be clearly observed on-chain.Chart by @AxelAdlerJr pic.twitter.com/L8tWWvcmfb

— Ki Young Ju (@ki_young_ju) March 28, 2024

The chart specifically compares the supply and demand trends of new versus established Bitcoin investors over an extended period. This distinction between new and established investors is crucial, as it highlights the growing interest from traditional financial institutions in the crypto space.

Simultaneously, technical analysis from other sources, such as Ali Martinez, suggests that Bitcoin is on the verge of a bullish breakout. Observations of a ‘bull flag’ pattern on the 4-hour chart hint at a possible significant price surge. 

#Bitcoin appears to be breaking out of a bull flag on the 4-hour chart! If $BTC holds above $70,000, we could see a surge of nearly 10% to a new all-time high of $77,000! pic.twitter.com/MPVB70p9DU

— Ali (@ali_charts) March 28, 2024

Based on this outlook, if Bitcoin’s price holds above the $70K level, it could experience an increase of around 10%, reaching a new all-time high of $77K. In tandem with the positive outlook for crypto, Bitcoin has gained a 1.23% rise during the previous 24-hour period.

BTC/USD 24-Hour Chart (Source: CoinMarketCap)

As of press time, Bitcoin’s price has reached $70.62K. This upswing comes despite the coin experiencing some volatility earlier in the week. Alongside the rise in its price, Bitcoin’s market capitalization has climbed by 1.32%, reaching a notable $1.389 billion. 

Complementing these gains, there has been a significant uptick in activity, as reflected by the 25.02% increase in intraday trading volume, which has surged to $42.392 billion, signaling heightened investor interest and market movement.

The post Bitcoin Old Guard Paves Way for New Whales As Prices Surge Over $70K appeared first on Coin Edition.
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Ethena Protocol Launches ENA Token, Redefining DeFi MarketEthena Protocol announces the launch of its ENA token aligned with the protocol’s sustainable strategies The protocol also announced the ENA token distribution features vesting schedule.  The new Shard Campaign will introduce Sats Campaign, focusing on Bitcoin integration and boosted rewards. Recently, the widely growing Ethena Protocol announced the launch of the ENA token. This launch marks a significant milestone in the evolution of digital currencies. Notably, the protocol’s USDe supply has surged to over $1 billion, making it one of the fastest USD-denominated assets to reach this milestone in crypto history. This feat underlines Ethena’s position as a new emerging leader in the DeFi landscape. With its growing ecosystem, Ethena has attracted key players in the DeFi space, including MakerDAO, Frax, Curve Finance, and Aave, among others. These integrations also show the growing relevance and adoption of Ethena’s USDe stablecoin within the broader DeFi ecosystem. Scheduled for April 2nd, users will have the opportunity to claim their share of 750 million ENA tokens, representing 5% of the total supply, based on their accumulated shards—a measure of their contribution to the Ethena ecosystem. To ensure the longevity and sustainability of the ENA token distribution, a vesting schedule has been implemented particularly for the top 2000 wallets and holders of Pendle’s YT token. This vesting mechanism aims to give incentives to long-term participants of the Ethena ecosystem. Furthermore, the ENA tokenomics outlines a distribution plan that allocates tokens to core contributors, investors, the foundation, and ecosystem development initiatives. These allocations reflect Ethena’s commitment to fostering growth, innovation, and community engagement within the DeFi space. Ethena is about to begin its second season of the Shard Campaign, aptly named the Sats Campaign. This new campaign comes along with the protocol’s aim of Bitcoin as a backing asset.  The post Ethena Protocol Launches ENA Token, Redefining DeFi Market appeared first on Coin Edition.

Ethena Protocol Launches ENA Token, Redefining DeFi Market

Ethena Protocol announces the launch of its ENA token aligned with the protocol’s sustainable strategies

The protocol also announced the ENA token distribution features vesting schedule. 

The new Shard Campaign will introduce Sats Campaign, focusing on Bitcoin integration and boosted rewards.

Recently, the widely growing Ethena Protocol announced the launch of the ENA token. This launch marks a significant milestone in the evolution of digital currencies.

Notably, the protocol’s USDe supply has surged to over $1 billion, making it one of the fastest USD-denominated assets to reach this milestone in crypto history. This feat underlines Ethena’s position as a new emerging leader in the DeFi landscape.

With its growing ecosystem, Ethena has attracted key players in the DeFi space, including MakerDAO, Frax, Curve Finance, and Aave, among others. These integrations also show the growing relevance and adoption of Ethena’s USDe stablecoin within the broader DeFi ecosystem.

Scheduled for April 2nd, users will have the opportunity to claim their share of 750 million ENA tokens, representing 5% of the total supply, based on their accumulated shards—a measure of their contribution to the Ethena ecosystem.

To ensure the longevity and sustainability of the ENA token distribution, a vesting schedule has been implemented particularly for the top 2000 wallets and holders of Pendle’s YT token. This vesting mechanism aims to give incentives to long-term participants of the Ethena ecosystem.

Furthermore, the ENA tokenomics outlines a distribution plan that allocates tokens to core contributors, investors, the foundation, and ecosystem development initiatives. These allocations reflect Ethena’s commitment to fostering growth, innovation, and community engagement within the DeFi space.

Ethena is about to begin its second season of the Shard Campaign, aptly named the Sats Campaign. This new campaign comes along with the protocol’s aim of Bitcoin as a backing asset. 

The post Ethena Protocol Launches ENA Token, Redefining DeFi Market appeared first on Coin Edition.
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CEO Larry Fink Bullish on Bitcoin As IBIT ETF Hits $17.1BIBIT became the fastest-growing ETF, amassing $13.5B in just 11 weeks. Larry Fink is bullish on Bitcoin as IBIT holds $17.1B in BTC. Spot Bitcoin ETF market grows, exceeding $34.1B across nine issuers. BlackRock CEO Larry Fink recently revealed his optimism regarding Bitcoin’s future while paying tribute to the success of the firm’s spot Bitcoin ETF, IBIT. Launched lately, IBIT has received impressive attention, becoming the fastest-growing ETF in the industry’s history, as claimed in a March 27 interview with Fox Business. BlackRock CEO Larry Fink says the $IBIT Spot #Bitcoin  #ETF is the fastest growing ETF in history pic.twitter.com/NOsDlFgROi — Simon Dixon (@SimonDixonTwitt) March 27, 2024 Under Fink’s leadership, BlackRock’s involvement in the crypto world with the iShares Bitcoin Trust (IBIT) has exceeded all expectations, attracting $13.5 billion in just 11 weeks of trade. This success story marks a new chapter for the investment firm, with Fink acknowledging the unexpected high demand from retail investors. Larry Fink said: “IBIT is the fastest growing ETF in the history of ETFs. Nothing has gained assets as fast as IBIT in the history of ETFs.” The ETF’s daily inflow average stands at over $260 million, with a peak single-day inflow of $849 million on March 12, data from Farside Investors reveals. Moreover, the surge in interest and investment has propelled IBIT to hold $17.1 billion in Bitcoin, a feat achieved in record time compared to traditional investment vehicles like the first gold ETF.  Bitcoin ETF Flow – 26 March 2024All data in. Strong day with $418m net inflow. pic.twitter.com/P5vpYAL5Za — BitMEX Research (@BitMEXResearch) March 27, 2024 Such rapid accumulation highlights the growing acceptance and interest in cryptocurrencies as a viable investment option. With this achievement, IBIT only trails behind the Grayscale Bitcoin Trust, which remains the largest holder of Bitcoin with $23.6 billion in assets.The broader market for spot Bitcoin ETFs has also seen significant growth, with total holdings exceeding $34.1 billion across nine issuers, excluding Grayscale. Among these, IBIT, along with the Fidelity Wise Origin Bitcoin Fund (FBTC) and ARK 21Shares Bitcoin ETF (ARKB), leads the pack in attracting inflows, showcasing the burgeoning interest in digital assets among investors. The post CEO Larry Fink Bullish on Bitcoin as IBIT ETF Hits $17.1B appeared first on Coin Edition.

CEO Larry Fink Bullish on Bitcoin As IBIT ETF Hits $17.1B

IBIT became the fastest-growing ETF, amassing $13.5B in just 11 weeks.

Larry Fink is bullish on Bitcoin as IBIT holds $17.1B in BTC.

Spot Bitcoin ETF market grows, exceeding $34.1B across nine issuers.

BlackRock CEO Larry Fink recently revealed his optimism regarding Bitcoin’s future while paying tribute to the success of the firm’s spot Bitcoin ETF, IBIT. Launched lately, IBIT has received impressive attention, becoming the fastest-growing ETF in the industry’s history, as claimed in a March 27 interview with Fox Business.

BlackRock CEO Larry Fink says the $IBIT Spot #Bitcoin  #ETF is the fastest growing ETF in history pic.twitter.com/NOsDlFgROi

— Simon Dixon (@SimonDixonTwitt) March 27, 2024

Under Fink’s leadership, BlackRock’s involvement in the crypto world with the iShares Bitcoin Trust (IBIT) has exceeded all expectations, attracting $13.5 billion in just 11 weeks of trade. This success story marks a new chapter for the investment firm, with Fink acknowledging the unexpected high demand from retail investors. Larry Fink said:

“IBIT is the fastest growing ETF in the history of ETFs. Nothing has gained assets as fast as IBIT in the history of ETFs.”

The ETF’s daily inflow average stands at over $260 million, with a peak single-day inflow of $849 million on March 12, data from Farside Investors reveals. Moreover, the surge in interest and investment has propelled IBIT to hold $17.1 billion in Bitcoin, a feat achieved in record time compared to traditional investment vehicles like the first gold ETF. 

Bitcoin ETF Flow – 26 March 2024All data in. Strong day with $418m net inflow. pic.twitter.com/P5vpYAL5Za

— BitMEX Research (@BitMEXResearch) March 27, 2024

Such rapid accumulation highlights the growing acceptance and interest in cryptocurrencies as a viable investment option. With this achievement, IBIT only trails behind the Grayscale Bitcoin Trust, which remains the largest holder of Bitcoin with $23.6 billion in assets.The broader market for spot Bitcoin ETFs has also seen significant growth, with total holdings exceeding $34.1 billion across nine issuers, excluding Grayscale. Among these, IBIT, along with the Fidelity Wise Origin Bitcoin Fund (FBTC) and ARK 21Shares Bitcoin ETF (ARKB), leads the pack in attracting inflows, showcasing the burgeoning interest in digital assets among investors.

The post CEO Larry Fink Bullish on Bitcoin as IBIT ETF Hits $17.1B appeared first on Coin Edition.
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Interoperability Protocol LayerZero Soars to $3B Valuation; Upcoming Airdrop?LayerZero achieved a valuation of $3 billion, following growing interest from prominent venture capital firms. Anticipation is mounting around LayerZero’s token airdrop, expected to occur soon. World Economic Forum praised the protocol’s technology and models. Omnichain interoperability protocol LayerZero has garnered significant attention from prominent investors, resulting in a valuation of $3 billion. With anticipation building around its upcoming yet-to-be-launched token airdrop, the growing interest solidifies the protocol’s impact. LayerZero is reportedly designed to seamlessly connect blockchains while ensuring smooth cross-chain transactions with its models. Moreover, LayerZero’s ZRO airdrop is expected to occur soon, fueling investors’ interest in the token. According to reports, several projects are built on or utilizing LayerZero’s technology, including the bridging platform Stargate, the RWA gaming asset tokenization protocol MetaZero, the decentralized lending and borrowing protocol Radiant Capital, and the decentralized exchange Trader Joe. It is widely believed that interaction with LayerZero integrated platforms and protocols could provide traders and investors with a strategic advantage in terms of the increased likelihood of receiving the ZRO airdrop. Additionally, reports added that the omnichain interoperability protocol is backed by prominent venture capital firms such as a167, Sequoia, and Coinbase Ventures. These partnerships led LayerZero’s $120 million raise to reach a $3 billion valuation. Another reported method to keep an eye on the ZRO airdrop is by monitoring the protocol’s Discord activity. LayerZero’s Discord channel serves as a means of interaction with the community and its members, providing answers to questions and assistance. The World Economic Forum (WEF) highlighted LayerZero’s technology, stating that the protocol “standardizes how information is passed across any blockchain.” Moreover, the WEF added that LayerZero has facilitated the movement of $50 billion in value and accounted for 97% of cross-chain message volume. The post Interoperability Protocol LayerZero Soars to $3B Valuation; Upcoming Airdrop? appeared first on Coin Edition.

Interoperability Protocol LayerZero Soars to $3B Valuation; Upcoming Airdrop?

LayerZero achieved a valuation of $3 billion, following growing interest from prominent venture capital firms.

Anticipation is mounting around LayerZero’s token airdrop, expected to occur soon.

World Economic Forum praised the protocol’s technology and models.

Omnichain interoperability protocol LayerZero has garnered significant attention from prominent investors, resulting in a valuation of $3 billion. With anticipation building around its upcoming yet-to-be-launched token airdrop, the growing interest solidifies the protocol’s impact.

LayerZero is reportedly designed to seamlessly connect blockchains while ensuring smooth cross-chain transactions with its models. Moreover, LayerZero’s ZRO airdrop is expected to occur soon, fueling investors’ interest in the token.

According to reports, several projects are built on or utilizing LayerZero’s technology, including the bridging platform Stargate, the RWA gaming asset tokenization protocol MetaZero, the decentralized lending and borrowing protocol Radiant Capital, and the decentralized exchange Trader Joe.

It is widely believed that interaction with LayerZero integrated platforms and protocols could provide traders and investors with a strategic advantage in terms of the increased likelihood of receiving the ZRO airdrop.

Additionally, reports added that the omnichain interoperability protocol is backed by prominent venture capital firms such as a167, Sequoia, and Coinbase Ventures. These partnerships led LayerZero’s $120 million raise to reach a $3 billion valuation.

Another reported method to keep an eye on the ZRO airdrop is by monitoring the protocol’s Discord activity. LayerZero’s Discord channel serves as a means of interaction with the community and its members, providing answers to questions and assistance.

The World Economic Forum (WEF) highlighted LayerZero’s technology, stating that the protocol “standardizes how information is passed across any blockchain.” Moreover, the WEF added that LayerZero has facilitated the movement of $50 billion in value and accounted for 97% of cross-chain message volume.

The post Interoperability Protocol LayerZero Soars to $3B Valuation; Upcoming Airdrop? appeared first on Coin Edition.
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DOGE, SHIB Get Margin Boost on Binance: Will It Spark a Rally or Higher RiskBinance added the DOGE/USDC and SHIB/USDC to its Isolated margin. DOGE painted a bearish structure that could drive its price down to $0.16. The 0.786 Fib level on the SHIB/USD 4-hour chart showed that the price could pull back to $0.000024. Dogecoin (DOGE) and Shiba Inu (SHIB) were part of the cryptocurrencies linked to a recent Binance announcement. On March 27, Binance revealed that assets including SHIB, DOGE, and others have gotten new trading pairs on the Cross and Isolated margin market. For Dogecoin, the exchange noted that it had added the DOGE/USDC pair in the Isolated margin. The SHIB/USDC pair also appeared in the same market. This disclosure meant that traders could now access better options as the exchange tried to attract more liquidity to its platform. However, the development might also affect the prices of SHIB  and DOGE. Thus, Coin Edition looked at the potential impact on the price action. Dogecoin (DOGE) At press time, the price of Dogecoin did not react positively or negatively to the margin listing. According to CoinMarketCap, the coin changed hands at $0.18. This was around the same value as the last 24 hours. The 4-hour DOGE/USD chart painted a bearish picture. This was because the Moving Average Convergence Divergence (MACD) was negative, indicating that momentum was downwards. If the reading of this indicator remains the same, then DOGE’s price might drop to the $0.16 underlying support. DOGE/USD 4-Hour Chart (Source: TradingView) On a broader view, if bulls fail to arrest the decline, DOGE might dump harder toward $0.14. However, the Relative Strength Index (RSI) remained above the neutral line. If buyers sustain this momentum then the bearish prediction might be invalidated and DOGE might sustain its hold on $0.18. Shiba Inu (SHIB) Unlike DOGE, Shiba Inu put up a mini show as its price jumped by 2.05% in the last 24 hours. As of this writing, SHIB’s price was $0.000030. However, SHIB presented a structure similar to Dogecoin. At press time, the RSI reading was almost the same, indicating that buying momentum was solid. However, indications from the Fibonacci retracement, suggested that bulls might lose hold of $0.000030. This was because the 0.786 Fib level was at $0.000024. With this position, SHIB’s price might retrace in the short term. However, the conditions might change if volatility around the token spikes. SHIB/USD 4-Hour Chart (Source: TradingView) If buying pressure accompanies high volatility, then SHIB might rally toward $0.000035. However, increased selling volume might drag down the price toward $0.000022. The post DOGE, SHIB Get Margin Boost on Binance: Will it Spark a Rally or Higher Risk appeared first on Coin Edition.

DOGE, SHIB Get Margin Boost on Binance: Will It Spark a Rally or Higher Risk

Binance added the DOGE/USDC and SHIB/USDC to its Isolated margin.

DOGE painted a bearish structure that could drive its price down to $0.16.

The 0.786 Fib level on the SHIB/USD 4-hour chart showed that the price could pull back to $0.000024.

Dogecoin (DOGE) and Shiba Inu (SHIB) were part of the cryptocurrencies linked to a recent Binance announcement. On March 27, Binance revealed that assets including SHIB, DOGE, and others have gotten new trading pairs on the Cross and Isolated margin market.

For Dogecoin, the exchange noted that it had added the DOGE/USDC pair in the Isolated margin. The SHIB/USDC pair also appeared in the same market. This disclosure meant that traders could now access better options as the exchange tried to attract more liquidity to its platform.

However, the development might also affect the prices of SHIB  and DOGE. Thus, Coin Edition looked at the potential impact on the price action.

Dogecoin (DOGE)

At press time, the price of Dogecoin did not react positively or negatively to the margin listing. According to CoinMarketCap, the coin changed hands at $0.18. This was around the same value as the last 24 hours.

The 4-hour DOGE/USD chart painted a bearish picture. This was because the Moving Average Convergence Divergence (MACD) was negative, indicating that momentum was downwards. If the reading of this indicator remains the same, then DOGE’s price might drop to the $0.16 underlying support.

DOGE/USD 4-Hour Chart (Source: TradingView)

On a broader view, if bulls fail to arrest the decline, DOGE might dump harder toward $0.14. However, the Relative Strength Index (RSI) remained above the neutral line. If buyers sustain this momentum then the bearish prediction might be invalidated and DOGE might sustain its hold on $0.18.

Shiba Inu (SHIB)

Unlike DOGE, Shiba Inu put up a mini show as its price jumped by 2.05% in the last 24 hours. As of this writing, SHIB’s price was $0.000030. However, SHIB presented a structure similar to Dogecoin.

At press time, the RSI reading was almost the same, indicating that buying momentum was solid. However, indications from the Fibonacci retracement, suggested that bulls might lose hold of $0.000030.

This was because the 0.786 Fib level was at $0.000024. With this position, SHIB’s price might retrace in the short term. However, the conditions might change if volatility around the token spikes.

SHIB/USD 4-Hour Chart (Source: TradingView)

If buying pressure accompanies high volatility, then SHIB might rally toward $0.000035. However, increased selling volume might drag down the price toward $0.000022.

The post DOGE, SHIB Get Margin Boost on Binance: Will it Spark a Rally or Higher Risk appeared first on Coin Edition.
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What’s Next for Coinbase After Judge Denies Dismissal of SEC’s LawsuitJudge Katherine Failla denied Coinbase’s motion to dismiss the SEC lawsuit. Fox Business Journalist Eleanor Terrett said that the case would last at least a year. Coinbase can file an interlocutory appeal on some or all parts of the denial, said Terrett. United States District Judge Katherine Polk Failla has denied Coinbase’s motion to dismiss the case brought forth by the US Securities and Exchange Commission (SEC) in June 2023 against the leading American exchange.  Notably, Eleanor Terrett, a journalist for Fox Business, shared the next steps for Coinbase on social media platform X (formerly known as Twitter), adding that the Court will now set a full discovery schedule, and each side can request documents for the discovery process.  “Some of this case could be undermined and exposed through discovery, so Coinbase will attempt to get as much discovery on the SEC as they can during this process, and the SEC will do the same,” sources told Terrett. While referring to the discovery phase in the XRP lawsuit, Terrett said that the phase will act like a “window” to the mind of the SEC in the lawsuit against Coinbase.  Further, the journalist also predicted that the case will drag on for at least a year because discovery can take “many months” and then follows “the process of filing summary judgment briefs and then a potential trial on top of that,” while adding: In the meantime, I’m told one of Coinbase’s more near-term options could be to file an “interlocutory appeal” on some or all parts of the denial of Motion To Dismiss if their lawyers think that it makes sense to do so. Notably, the SEC filed for an interlocutory appeal in the XRP lawsuit but was denied by Judge Analisa Torres, who made the historical decision that XRP was not a security when sold to retail investors.  The post What’s Next for Coinbase After Judge Denies Dismissal of SEC’s Lawsuit appeared first on Coin Edition.

What’s Next for Coinbase After Judge Denies Dismissal of SEC’s Lawsuit

Judge Katherine Failla denied Coinbase’s motion to dismiss the SEC lawsuit.

Fox Business Journalist Eleanor Terrett said that the case would last at least a year.

Coinbase can file an interlocutory appeal on some or all parts of the denial, said Terrett.

United States District Judge Katherine Polk Failla has denied Coinbase’s motion to dismiss the case brought forth by the US Securities and Exchange Commission (SEC) in June 2023 against the leading American exchange. 

Notably, Eleanor Terrett, a journalist for Fox Business, shared the next steps for Coinbase on social media platform X (formerly known as Twitter), adding that the Court will now set a full discovery schedule, and each side can request documents for the discovery process. 

“Some of this case could be undermined and exposed through discovery, so Coinbase will attempt to get as much discovery on the SEC as they can during this process, and the SEC will do the same,” sources told Terrett.

While referring to the discovery phase in the XRP lawsuit, Terrett said that the phase will act like a “window” to the mind of the SEC in the lawsuit against Coinbase. 

Further, the journalist also predicted that the case will drag on for at least a year because discovery can take “many months” and then follows “the process of filing summary judgment briefs and then a potential trial on top of that,” while adding:

In the meantime, I’m told one of Coinbase’s more near-term options could be to file an “interlocutory appeal” on some or all parts of the denial of Motion To Dismiss if their lawyers think that it makes sense to do so.

Notably, the SEC filed for an interlocutory appeal in the XRP lawsuit but was denied by Judge Analisa Torres, who made the historical decision that XRP was not a security when sold to retail investors. 

The post What’s Next for Coinbase After Judge Denies Dismissal of SEC’s Lawsuit appeared first on Coin Edition.
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Bitcoin Whales Buys Over 100K BTC Amid Price DropWhales buy over 100K BTC in a week, signaling strong confidence in Bitcoin’s future. Despite whale accumulation, Bitcoin’s price falls below $70K, hinting at market volatility. Bearish indicators suggest a potential downturn, but bullish momentum could reverse the trend Bitcoin’s market is witnessing an extraordinary phase of accumulation as prominent crypto investors, often referred to as whales, have increased their stakes in the digital currency. In an aggressive expansion of their portfolios, these whales have added over 100,000 BTC, valued at approximately $7 billion, over the past week alone. #Bitcoin whales have purchased more than 100,000 $BTC over the past week, worth $7 billion! pic.twitter.com/2LBDgZ17Xa — Ali (@ali_charts) March 27, 2024 This investment highlights a profound vote of confidence in Bitcoin from its most substantial investors, suggesting a bullish outlook for its future. The details of this transaction surfaced on social media, where ali_charts drew attention to the whales’ buying spree on Twitter.  This aggressive investment maneuver by such key market participants is viewed as a strong endorsement of Bitcoin’s long-term value. Historical patterns of similar large-scale acquisitions have frequently led to notable shifts in the market price. This hints at the possibility of an impending upward trend and sparks speculation about Bitcoin’s market trajectory. Despite this aggressive accumulation by whales, the price of Bitcoin has faced a downturn in the last 24 hours, falling below the $70K mark. According to CoinMarketCap, Bitcoin opened the day at $71.22K but dropped to an intraday low of $69.448K, eventually stabilizing at $69.77K. This represents a 1.39% decrease for the day, mirrored by a similar decline in its market capitalization to $1.369 trillion and a 23.13% fall in its intraday trading volume to $33.892 billion. BTC/USD 24-Hour Chart (Source: CoinMarketCap) The technical analysis on the 4-hour chart indicates a bearish trend, as the Moving Average Convergence Divergence (MACD) indicator trends downward at 1189. This movement, nearly crossing the signal line, suggests the forecast of potential bearish momentum in the near future.  Additionally, the histogram bars are flattening and approaching the zero line, suggesting a decrease in price may be imminent. The RSI stands slightly above the middle line at 60.48, indicating a potential weakening of buying pressure. Originating from an overbought condition, this suggests a possible reversal and a downward price movement in the days ahead. BTC/USD 4-Hour Chart (Source: TradingView) Should the bearish trend persist, Bitcoin’s price is expected to target the 50% Fibonacci retracement level, acting as the immediate support. Conversely, a resurgence of bullish momentum could propel the price toward the 78% Fibonacci level, serving as the next significant resistance point above the $70K threshold. The post Bitcoin Whales Buys Over 100K BTC Amid Price Drop appeared first on Coin Edition.

Bitcoin Whales Buys Over 100K BTC Amid Price Drop

Whales buy over 100K BTC in a week, signaling strong confidence in Bitcoin’s future.

Despite whale accumulation, Bitcoin’s price falls below $70K, hinting at market volatility.

Bearish indicators suggest a potential downturn, but bullish momentum could reverse the trend

Bitcoin’s market is witnessing an extraordinary phase of accumulation as prominent crypto investors, often referred to as whales, have increased their stakes in the digital currency. In an aggressive expansion of their portfolios, these whales have added over 100,000 BTC, valued at approximately $7 billion, over the past week alone.

#Bitcoin whales have purchased more than 100,000 $BTC over the past week, worth $7 billion! pic.twitter.com/2LBDgZ17Xa

— Ali (@ali_charts) March 27, 2024

This investment highlights a profound vote of confidence in Bitcoin from its most substantial investors, suggesting a bullish outlook for its future. The details of this transaction surfaced on social media, where ali_charts drew attention to the whales’ buying spree on Twitter. 

This aggressive investment maneuver by such key market participants is viewed as a strong endorsement of Bitcoin’s long-term value. Historical patterns of similar large-scale acquisitions have frequently led to notable shifts in the market price. This hints at the possibility of an impending upward trend and sparks speculation about Bitcoin’s market trajectory.

Despite this aggressive accumulation by whales, the price of Bitcoin has faced a downturn in the last 24 hours, falling below the $70K mark. According to CoinMarketCap, Bitcoin opened the day at $71.22K but dropped to an intraday low of $69.448K, eventually stabilizing at $69.77K. This represents a 1.39% decrease for the day, mirrored by a similar decline in its market capitalization to $1.369 trillion and a 23.13% fall in its intraday trading volume to $33.892 billion.

BTC/USD 24-Hour Chart (Source: CoinMarketCap)

The technical analysis on the 4-hour chart indicates a bearish trend, as the Moving Average Convergence Divergence (MACD) indicator trends downward at 1189. This movement, nearly crossing the signal line, suggests the forecast of potential bearish momentum in the near future. 

Additionally, the histogram bars are flattening and approaching the zero line, suggesting a decrease in price may be imminent. The RSI stands slightly above the middle line at 60.48, indicating a potential weakening of buying pressure. Originating from an overbought condition, this suggests a possible reversal and a downward price movement in the days ahead.

BTC/USD 4-Hour Chart (Source: TradingView)

Should the bearish trend persist, Bitcoin’s price is expected to target the 50% Fibonacci retracement level, acting as the immediate support. Conversely, a resurgence of bullish momentum could propel the price toward the 78% Fibonacci level, serving as the next significant resistance point above the $70K threshold.

The post Bitcoin Whales Buys Over 100K BTC Amid Price Drop appeared first on Coin Edition.
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Ripple Legal Saga: Pro-XRP Lawyer Challenges SEC Allegations, Raises Validity ConcernsPro-XRP lawyer Bill Morgan questions SEC’s allegations, citing lack of evidence and validity. SEC claims Ripple’s discounts caused $480 million in harm to investors, stirring legal tensions. Concerns mount over Ripple’s reputation and compliance amidst regulatory scrutiny and legal battles. In the ongoing legal saga between Ripple and the Securities and Exchange Commission (SEC), Pro-XRP lawyer, Bill Morgan, has stepped forward to provide insights into the potential impact of the regulatory body’s recent allegations. As tensions continue to rise, Morgan’s analysis sheds light on the challenges Ripple faces through legal scrutiny. The SEC’s brief is a possible problem for #Ripple beyond this case. The SEC is able to argue that there were two groups of institutional sales investors (its calls them favored and non-favored) and Ripple offered one group significant discounts in XRP price over the other group… pic.twitter.com/RKjg00nGxl — bill morgan (@Belisarius2020) March 26, 2024 Morgan’s comments revolve around the SEC’s accusations aimed at Ripple, particularly concerning the crypto firm’s ‘alleged’ preferential treatment towards institutional investors. Source: Bill Morgan The SEC’s latest brief alleges that such preferential discounts given by Ripple could have resulted in harm amounting to a staggering $480 million for investors left out of these arrangements.  Morgan has expressed reservations about the stance taken by the SEC. He believes that it is necessary to scrutinize the evidence behind the allegations and questions the validity of the SEC’s assertions. He highlights the apparent lack of evidence regarding the causation of the alleged wrongdoing.  Morgan is also concerned about the potential damage to Ripple’s reputation among institutional investors. The revelation of selective discounts raises questions about the company’s compliance with regulatory standards, particularly regarding disclosure requirements. Such issues could further complicate Ripple’s legal proceedings and erode investor trust in the company. The SEC has escalated its efforts by appealing to Judge Torres for a final judgment against Ripple. The regulatory agency is seeking a range of punitive measures, including permanent injunctions, disgorgement, prejudgment interest, and civil penalties totaling nearly $2 billion.  The post Ripple Legal Saga: Pro-XRP Lawyer Challenges SEC Allegations, Raises Validity Concerns appeared first on Coin Edition.

Ripple Legal Saga: Pro-XRP Lawyer Challenges SEC Allegations, Raises Validity Concerns

Pro-XRP lawyer Bill Morgan questions SEC’s allegations, citing lack of evidence and validity.

SEC claims Ripple’s discounts caused $480 million in harm to investors, stirring legal tensions.

Concerns mount over Ripple’s reputation and compliance amidst regulatory scrutiny and legal battles.

In the ongoing legal saga between Ripple and the Securities and Exchange Commission (SEC), Pro-XRP lawyer, Bill Morgan, has stepped forward to provide insights into the potential impact of the regulatory body’s recent allegations. As tensions continue to rise, Morgan’s analysis sheds light on the challenges Ripple faces through legal scrutiny.

The SEC’s brief is a possible problem for #Ripple beyond this case. The SEC is able to argue that there were two groups of institutional sales investors (its calls them favored and non-favored) and Ripple offered one group significant discounts in XRP price over the other group… pic.twitter.com/RKjg00nGxl

— bill morgan (@Belisarius2020) March 26, 2024

Morgan’s comments revolve around the SEC’s accusations aimed at Ripple, particularly concerning the crypto firm’s ‘alleged’ preferential treatment towards institutional investors.

Source: Bill Morgan

The SEC’s latest brief alleges that such preferential discounts given by Ripple could have resulted in harm amounting to a staggering $480 million for investors left out of these arrangements. 

Morgan has expressed reservations about the stance taken by the SEC. He believes that it is necessary to scrutinize the evidence behind the allegations and questions the validity of the SEC’s assertions. He highlights the apparent lack of evidence regarding the causation of the alleged wrongdoing. 

Morgan is also concerned about the potential damage to Ripple’s reputation among institutional investors. The revelation of selective discounts raises questions about the company’s compliance with regulatory standards, particularly regarding disclosure requirements. Such issues could further complicate Ripple’s legal proceedings and erode investor trust in the company.

The SEC has escalated its efforts by appealing to Judge Torres for a final judgment against Ripple. The regulatory agency is seeking a range of punitive measures, including permanent injunctions, disgorgement, prejudgment interest, and civil penalties totaling nearly $2 billion. 

The post Ripple Legal Saga: Pro-XRP Lawyer Challenges SEC Allegations, Raises Validity Concerns appeared first on Coin Edition.
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Impending Bitcoin Correction Will Lead to an Altcoin Rally – AnalystMichaël van de Poppe thinks altcoins are still “heavily undervalued.” Poppe believes an upcoming Bitcoin correction will lead to an altcoin rally. According to Poppe, the expected Fed interest rate decision will impact the market in the medium term. Renowned cryptocurrency analyst Michaël van de Poppe thinks altcoins are still “heavily undervalued.” In a recent post on X, Poppe noted that altcoins are slowly moving upward. He cited Chainlink (LINK) as one of the altcoins experiencing significant strength. However, he believes the altcoin season has yet to begin fully. Slowly, but surely, #Altcoins are moving upwards. Some strength can be seen on $LINK, but I think that altcoins are still heavily undervalued.Check my latest update here:https://t.co/YtHfbVbdWl pic.twitter.com/kkctRiG96B — Michaël van de Poppe (@CryptoMichNL) March 26, 2024 Poppe’s post on X referenced one of his recently uploaded YouTube videos, where he analyzed the altcoin market, highlighting the current pre-halving trend. The analyst compared the current altcoin market to the situation before the 2016 Bitcoin halving. According to Poppe, although Bitcoin did not reach a new all-time high (ATH) before the 2016 halving event, the trend of that cycle remains similar to the current price development. He noted a significant impulsive Bitcoin move pre-halving, resulting in a relatable correction.  Meanwhile, the renowned analyst believes there is still a chance for a pre-halving correction following the current Bitcoin rally. He thinks the expected correction will enable altcoins to perform significantly well. However, Poppe cited the anticipated macroeconomic data expected soon from the U.S. Federal Reserve to impact the crypto market. In further explanation, Poppe noted that he does not expect the Fed to cut down on interest rates. He thinks that would trigger the market to drop before making its way back up. In his opinion, not cutting down on interest rates would be positive for the market in the medium term. Poppe noted that the crypto total market cap is closing up on the ATH. He thinks after the recent surge, the wholesale metric would experience some consolidation before continuing upwards. However, the analyst acknowledged the role of Bitcoin’s dominance in the crypto ecosystem. He thinks it is nearing a pre-halving peak that would trigger a capital rotation to the benefit of altcoins. The post Impending Bitcoin Correction Will Lead To An Altcoin Rally – Analyst appeared first on Coin Edition.

Impending Bitcoin Correction Will Lead to an Altcoin Rally – Analyst

Michaël van de Poppe thinks altcoins are still “heavily undervalued.”

Poppe believes an upcoming Bitcoin correction will lead to an altcoin rally.

According to Poppe, the expected Fed interest rate decision will impact the market in the medium term.

Renowned cryptocurrency analyst Michaël van de Poppe thinks altcoins are still “heavily undervalued.” In a recent post on X, Poppe noted that altcoins are slowly moving upward. He cited Chainlink (LINK) as one of the altcoins experiencing significant strength. However, he believes the altcoin season has yet to begin fully.

Slowly, but surely, #Altcoins are moving upwards. Some strength can be seen on $LINK , but I think that altcoins are still heavily undervalued.Check my latest update here:https://t.co/YtHfbVbdWl pic.twitter.com/kkctRiG96B

— Michaël van de Poppe (@CryptoMichNL) March 26, 2024

Poppe’s post on X referenced one of his recently uploaded YouTube videos, where he analyzed the altcoin market, highlighting the current pre-halving trend. The analyst compared the current altcoin market to the situation before the 2016 Bitcoin halving.

According to Poppe, although Bitcoin did not reach a new all-time high (ATH) before the 2016 halving event, the trend of that cycle remains similar to the current price development. He noted a significant impulsive Bitcoin move pre-halving, resulting in a relatable correction. 

Meanwhile, the renowned analyst believes there is still a chance for a pre-halving correction following the current Bitcoin rally. He thinks the expected correction will enable altcoins to perform significantly well. However, Poppe cited the anticipated macroeconomic data expected soon from the U.S. Federal Reserve to impact the crypto market.

In further explanation, Poppe noted that he does not expect the Fed to cut down on interest rates. He thinks that would trigger the market to drop before making its way back up. In his opinion, not cutting down on interest rates would be positive for the market in the medium term.

Poppe noted that the crypto total market cap is closing up on the ATH. He thinks after the recent surge, the wholesale metric would experience some consolidation before continuing upwards. However, the analyst acknowledged the role of Bitcoin’s dominance in the crypto ecosystem. He thinks it is nearing a pre-halving peak that would trigger a capital rotation to the benefit of altcoins.

The post Impending Bitcoin Correction Will Lead To An Altcoin Rally – Analyst appeared first on Coin Edition.
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AI Tokens AGIX, FET, OCEAN Record Dramatic 30% Surge Amid Rumor of MergerSingularityNET, Fetch.ai, and Ocean Protocol are discussing a merger. The AI platforms may consolidate their tokens into an ASI token with a $7.5 billion cap. This move has propelled OCEAN to a daily high of $1.65 following a dramatic 30% rally. Three artificial intelligence firms utilizing blockchain technology are discussing a merger for their various crypto assets. Bloomberg captured details of the discussion in a recent report, citing sources familiar with the situation. Specifically, the report cited that SingularityNET (AGIX), Fetch.ai (FET), and Ocean Protocol (OCEAN) are in talks to consolidate their tokens into a singular ASI token. The consolidated token is expected to have an estimated fully diluted value of approximately $7.5 billion.  The prospective deal, due for announcement soon, is contingent upon each company’s communities’ approval. These details were shared by individuals privy to the matter who preferred anonymity due to the sensitive nature of the information. Notably, SingularityNET, Fetch.ai, and Ocean Protocol would maintain their autonomy. However, according to sources, they would engage in collaborative efforts overseen by a collective known as the Superintelligence Collective, led by Ben Goertzel, the founder and CEO of SingularityNET. Additionally, Humayun Sheikh, CEO of Fetch.ai and an initial investor in DeepMind, the AI company acquired by Google in 2014, would assume the role of chairman. Meanwhile, this rumor about merging the three prominent AI-based tokens has sparked significant bullishness for each token. According to CoinMarketCap data, OCEAN has witnessed a 346.93% surge in its 24-hour trading volume, with the market cap growing 31.03% to $891 million. This has propelled OCEAN to a daily high of $1.65 amid an over 30% gain in the last few hours. Ocean daily chart | CoinMarketCap Similarly, FET has recorded an over 15% surge within the past few hours, putting its price at $3.2. A comparable dramatic uptrend is also observable for the AGIX token.Notably, these discussions coincide with significant investments by tech giants like Alphabet and Microsoft into AI. Accordingly, emerging crypto-based AI platforms like SingularityNET, Fetch.ai, and Ocean Protocol are in a race to pioneer decentralized AI technology on blockchain. The post AI Tokens AGIX, FET, OCEAN Record Dramatic 30% Surge Amid Rumor of Merger appeared first on Coin Edition.

AI Tokens AGIX, FET, OCEAN Record Dramatic 30% Surge Amid Rumor of Merger

SingularityNET, Fetch.ai, and Ocean Protocol are discussing a merger.

The AI platforms may consolidate their tokens into an ASI token with a $7.5 billion cap.

This move has propelled OCEAN to a daily high of $1.65 following a dramatic 30% rally.

Three artificial intelligence firms utilizing blockchain technology are discussing a merger for their various crypto assets. Bloomberg captured details of the discussion in a recent report, citing sources familiar with the situation.

Specifically, the report cited that SingularityNET (AGIX), Fetch.ai (FET), and Ocean Protocol (OCEAN) are in talks to consolidate their tokens into a singular ASI token. The consolidated token is expected to have an estimated fully diluted value of approximately $7.5 billion. 

The prospective deal, due for announcement soon, is contingent upon each company’s communities’ approval. These details were shared by individuals privy to the matter who preferred anonymity due to the sensitive nature of the information.

Notably, SingularityNET, Fetch.ai, and Ocean Protocol would maintain their autonomy. However, according to sources, they would engage in collaborative efforts overseen by a collective known as the Superintelligence Collective, led by Ben Goertzel, the founder and CEO of SingularityNET. Additionally, Humayun Sheikh, CEO of Fetch.ai and an initial investor in DeepMind, the AI company acquired by Google in 2014, would assume the role of chairman.

Meanwhile, this rumor about merging the three prominent AI-based tokens has sparked significant bullishness for each token. According to CoinMarketCap data, OCEAN has witnessed a 346.93% surge in its 24-hour trading volume, with the market cap growing 31.03% to $891 million. This has propelled OCEAN to a daily high of $1.65 amid an over 30% gain in the last few hours.

Ocean daily chart | CoinMarketCap

Similarly, FET has recorded an over 15% surge within the past few hours, putting its price at $3.2. A comparable dramatic uptrend is also observable for the AGIX token.Notably, these discussions coincide with significant investments by tech giants like Alphabet and Microsoft into AI. Accordingly, emerging crypto-based AI platforms like SingularityNET, Fetch.ai, and Ocean Protocol are in a race to pioneer decentralized AI technology on blockchain.

The post AI Tokens AGIX, FET, OCEAN Record Dramatic 30% Surge Amid Rumor of Merger appeared first on Coin Edition.
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Litecoin (LTC) Hits 7-Day High Amid CFTC Commodity Buzz, Will the Bull Rally Last?Litecoin’s LTC sees a 7-day high, buoyed by CFTC commodity status. LTC addresses surpass 8 million, signaling surging adoption & market interest. Coinbase’s LTC futures could boost liquidity, awaiting CFTC nod for April launch. Litecoin (LTC) has been on a bullish streak in the last 24 hours, recording a 7-day high after finding support at the intra-day low of $87.78. This surge occurs in the light of supportive trends in the cryptocurrency market, particularly the news by the Commodity Futures Trading Commission (CFTC) about Litecoin being a commodity in the KuCoin case. This classification has attracted attention from both investors and traders, leading to the price of LTC gaining positive momentum. LTC/USD 24-hour price chart (source: CoinStats ) The bullish momentum was still in charge by press time, and LTC’s price was up $95.63, a 4.96% rise from the intra-day low, although it had been seen as resistant at $96.97. Simultaneously, 4.06% and 105.86% growth were observed in the market capitalization and 24-hour trading volume, which reached $7,112,289,305 and $1,185,293,147, respectively. Coinbase Futures Trading Announcement  Among the reasons that started off the rapid price appreciation of Litecoin is the announcement that Coinbase is going to start offering cash-settled futures contracts for Litecoin. The move is intended to improve accessibility and liquidity for Litecoin traders and is subject to CFTC’s approval.  Looks like BCH, LTC and DOGE futures go live April 1 on Coinbase pic.twitter.com/hI5Sc5BR26 — Scott Johnsson (@SGJohnsson) March 21, 2024 The trading of these futures contracts is expected to start in the first week of April – subject to regulatory approval, and market participants are looking forward to the potential rise in Litecoin’s trading volumes and investor interest. Consequently, the expectation of improved liquidity and availability through futures trading makes Litecoin bullish. Litecoin Adoption on the Rise Adding more to the positive momentum for Litecoin is a signal of an explosion in adoption. According to recent on-chain data, the number of addresses that own Litecoin has exceeded 8 million, which represents a significant increase in the user base of this cryptocurrency. Such a spike in usage is due to the growing popularity of Litecoin among cryptocurrency users for its fast transaction speeds and low fees. The total number of addresses with a balance on the Litecoin Network continues to grow! Currently at 8 million and adding over a MILLION hodlers since this time last year!! $LTC ⚡️ #HODL pic.twitter.com/mm2HFcWC00 — Jay Ⓜ️🕸️ (@MillaLiraj) March 25, 2024 Moreover, according to Eleanor Terret, the clarification by the CFTC of Litecoin as a commodity is a reaffirmation of Litecoin’s position within the regulatory framework and also sets a path for a broad range of financial products and services related to Litecoin, including ETFs and other derivative products. The potential for Litecoin futures trading, subject to CFTC approval, represents a significant milestone for the cryptocurrency, as it would facilitate broader market participation and potentially attract institutional investors. The prospect of such developments has contributed to the positive market sentiment and has been reflected in the recent price movements of Litecoin. LTC/USD Technical Analysis The Rate of Change (ROC) rating of 4.76 on the LTCUSD 4-hour price chart suggests that the price has steadily increased in recent hours. This shows that Litecoin may be gaining momentum in the near term. Furthermore, the Chaikin Money Flow (CMF) rating of 0.11 indicates that there is still some purchasing pressure in the market, but it is insufficient to maintain the present positive trend. This might imply that Litecoin may face some consolidation or a minor setback before continuing its upward trajectory. If the CMF rating continues to fall and the ROC rating becomes negative, it might indicate a change toward bearish momentum in the long run. LTC/USD 4-hour price chart (source: TradingView ) The Moving Average Convergence Divergence (MACD) has moved above its signal with a rating of 2.3766, indicating that the market still has some short-term positive momentum. The MACD histogram also suggests a rise in positive momentum, indicating that Litecoin may still have the potential to continue its upward trend in the foreseeable future. This pattern suggests that, while there may be some consolidation or a modest retreat in the short term, the general picture for Litecoin is favorable. The post Litecoin (LTC) Hits 7-Day High Amid CFTC Commodity Buzz, Will the Bull Rally Last? appeared first on Coin Edition.

Litecoin (LTC) Hits 7-Day High Amid CFTC Commodity Buzz, Will the Bull Rally Last?

Litecoin’s LTC sees a 7-day high, buoyed by CFTC commodity status.

LTC addresses surpass 8 million, signaling surging adoption & market interest.

Coinbase’s LTC futures could boost liquidity, awaiting CFTC nod for April launch.

Litecoin (LTC) has been on a bullish streak in the last 24 hours, recording a 7-day high after finding support at the intra-day low of $87.78. This surge occurs in the light of supportive trends in the cryptocurrency market, particularly the news by the Commodity Futures Trading Commission (CFTC) about Litecoin being a commodity in the KuCoin case. This classification has attracted attention from both investors and traders, leading to the price of LTC gaining positive momentum.

LTC/USD 24-hour price chart (source: CoinStats )

The bullish momentum was still in charge by press time, and LTC’s price was up $95.63, a 4.96% rise from the intra-day low, although it had been seen as resistant at $96.97. Simultaneously, 4.06% and 105.86% growth were observed in the market capitalization and 24-hour trading volume, which reached $7,112,289,305 and $1,185,293,147, respectively.

Coinbase Futures Trading Announcement 

Among the reasons that started off the rapid price appreciation of Litecoin is the announcement that Coinbase is going to start offering cash-settled futures contracts for Litecoin. The move is intended to improve accessibility and liquidity for Litecoin traders and is subject to CFTC’s approval. 

Looks like BCH, LTC and DOGE futures go live April 1 on Coinbase pic.twitter.com/hI5Sc5BR26

— Scott Johnsson (@SGJohnsson) March 21, 2024

The trading of these futures contracts is expected to start in the first week of April – subject to regulatory approval, and market participants are looking forward to the potential rise in Litecoin’s trading volumes and investor interest. Consequently, the expectation of improved liquidity and availability through futures trading makes Litecoin bullish.

Litecoin Adoption on the Rise

Adding more to the positive momentum for Litecoin is a signal of an explosion in adoption. According to recent on-chain data, the number of addresses that own Litecoin has exceeded 8 million, which represents a significant increase in the user base of this cryptocurrency. Such a spike in usage is due to the growing popularity of Litecoin among cryptocurrency users for its fast transaction speeds and low fees.

The total number of addresses with a balance on the Litecoin Network continues to grow! Currently at 8 million and adding over a MILLION hodlers since this time last year!! $LTC ⚡️ #HODL pic.twitter.com/mm2HFcWC00

— Jay Ⓜ️🕸️ (@MillaLiraj) March 25, 2024

Moreover, according to Eleanor Terret, the clarification by the CFTC of Litecoin as a commodity is a reaffirmation of Litecoin’s position within the regulatory framework and also sets a path for a broad range of financial products and services related to Litecoin, including ETFs and other derivative products.

The potential for Litecoin futures trading, subject to CFTC approval, represents a significant milestone for the cryptocurrency, as it would facilitate broader market participation and potentially attract institutional investors. The prospect of such developments has contributed to the positive market sentiment and has been reflected in the recent price movements of Litecoin.

LTC/USD Technical Analysis

The Rate of Change (ROC) rating of 4.76 on the LTCUSD 4-hour price chart suggests that the price has steadily increased in recent hours. This shows that Litecoin may be gaining momentum in the near term.

Furthermore, the Chaikin Money Flow (CMF) rating of 0.11 indicates that there is still some purchasing pressure in the market, but it is insufficient to maintain the present positive trend. This might imply that Litecoin may face some consolidation or a minor setback before continuing its upward trajectory. If the CMF rating continues to fall and the ROC rating becomes negative, it might indicate a change toward bearish momentum in the long run.

LTC/USD 4-hour price chart (source: TradingView )

The Moving Average Convergence Divergence (MACD) has moved above its signal with a rating of 2.3766, indicating that the market still has some short-term positive momentum. The MACD histogram also suggests a rise in positive momentum, indicating that Litecoin may still have the potential to continue its upward trend in the foreseeable future. This pattern suggests that, while there may be some consolidation or a modest retreat in the short term, the general picture for Litecoin is favorable.

The post Litecoin (LTC) Hits 7-Day High Amid CFTC Commodity Buzz, Will the Bull Rally Last? appeared first on Coin Edition.
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ETHFI Takes Over Staking Narrative, Rallies Nearly 3,000% in 10 DaysAccording to Spot On Chain, ETHFI has introduced a leading staking narrative following recent price performance. The newly launched token surged nearly 3,000% in less than two weeks. Users consider Ether.fi an ideal protocol that democratizes Ethereum’s staking process. According to Spot On Chain, the on-chain data analytics platform, ETHFI surged nearly 30% in 24 hours, achieving a new all-time high (ATH). In a recent post on X, the analytics platform noted that the rally introduced a leading staking narrative for the relatively new Ethereum staking protocol. The $ETHFI price surged ~30% (24H) to a new ATH, leading the #restaking narrative!We noticed 4 out of 5 top non-team/CEX holders have withdrawn 1.036M $ETHFI ($5.4M) from #Binance and #KuCoin at ~$5.208 in the past 22 hours.Currently, these 4 wallets hold a total of 12.2M… pic.twitter.com/KWeApyVycs — Spot On Chain (@spotonchain) March 27, 2024 Meanwhile, Spot On Chain highlighted some significant transactions in the ETHFI ecosystem. According to the analytics platform, four out of five top non-team/CEX holders withdrew 1.036 million ETHFI, equivalent to $5.4 million from Binance and KuCoin. The holders withdrew the assets about 22 hours before Spot On Chain’s post, with ETHFI trading at around $5.208. The analytics platform shared further details about the top holders, showing that the four identified wallets held 12.2 million ETHFI, equivalent to $76.6 million, or 10.6% of the digital asset’s circulating supply, as of making the post. ETHFI is the governance token that drives the Ether.fi network, a decentralized, non-custodial delegated Ethereum staking protocol. It is among the less well-known cryptocurrencies that have been performing well recently. The staking protocol launched in mid-March and has rallied from an opening price of $0.23 to $6.438 in less than two weeks, gaining nearly 3,000%, according to data from TradingView. ETHFI traded for $6.056 at the time of writing, having retraced slightly from an ATH higher than earlier reported by Spot On Chain. Many members of the Ethereum community are predicting high numbers for the newly launched governance token. They consider Ether.fi an ideal protocol that democratizes Ethereum’s staking process, lowering the barrier and enabling more users to partake in ETH staking. However, crypto predictions remain a guessing game as several factors affect how crypto prices develop. The post ETHFI Takes Over Staking Narrative, Rallies Nearly 3,000% in 10 Days appeared first on Coin Edition.

ETHFI Takes Over Staking Narrative, Rallies Nearly 3,000% in 10 Days

According to Spot On Chain, ETHFI has introduced a leading staking narrative following recent price performance.

The newly launched token surged nearly 3,000% in less than two weeks.

Users consider Ether.fi an ideal protocol that democratizes Ethereum’s staking process.

According to Spot On Chain, the on-chain data analytics platform, ETHFI surged nearly 30% in 24 hours, achieving a new all-time high (ATH). In a recent post on X, the analytics platform noted that the rally introduced a leading staking narrative for the relatively new Ethereum staking protocol.

The $ETHFI price surged ~30% (24H) to a new ATH, leading the #restaking narrative!We noticed 4 out of 5 top non-team/CEX holders have withdrawn 1.036M $ETHFI ($5.4M) from #Binance and #KuCoin at ~$5.208 in the past 22 hours.Currently, these 4 wallets hold a total of 12.2M… pic.twitter.com/KWeApyVycs

— Spot On Chain (@spotonchain) March 27, 2024

Meanwhile, Spot On Chain highlighted some significant transactions in the ETHFI ecosystem. According to the analytics platform, four out of five top non-team/CEX holders withdrew 1.036 million ETHFI, equivalent to $5.4 million from Binance and KuCoin. The holders withdrew the assets about 22 hours before Spot On Chain’s post, with ETHFI trading at around $5.208.

The analytics platform shared further details about the top holders, showing that the four identified wallets held 12.2 million ETHFI, equivalent to $76.6 million, or 10.6% of the digital asset’s circulating supply, as of making the post.

ETHFI is the governance token that drives the Ether.fi network, a decentralized, non-custodial delegated Ethereum staking protocol. It is among the less well-known cryptocurrencies that have been performing well recently.

The staking protocol launched in mid-March and has rallied from an opening price of $0.23 to $6.438 in less than two weeks, gaining nearly 3,000%, according to data from TradingView. ETHFI traded for $6.056 at the time of writing, having retraced slightly from an ATH higher than earlier reported by Spot On Chain.

Many members of the Ethereum community are predicting high numbers for the newly launched governance token. They consider Ether.fi an ideal protocol that democratizes Ethereum’s staking process, lowering the barrier and enabling more users to partake in ETH staking. However, crypto predictions remain a guessing game as several factors affect how crypto prices develop.

The post ETHFI Takes Over Staking Narrative, Rallies Nearly 3,000% in 10 Days appeared first on Coin Edition.
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Ripple CTO Stresses XRP Autonomy Amid Distribution HurdlesRipple’s CTO highlights individuals’ right to sell digital assets. Tax implications drive the necessity of selling XRP, said David Schwartz. Alternative distribution methods face hurdles, including tax concerns and susceptibility to fraud. In a recent series of tweets, David Schwartz, the CTO of Ripple, engaged in a candid discussion regarding the distribution of XRP, Ripple’s native digital asset. Addressing concerns about centralized control and concentration of XRP, Schwartz provided insights into the challenges Ripple faces in ensuring a fair and equitable distribution of the cryptocurrency. Schwartz started by highlighting the fundamental nature of digital assets, stating that holders can sell them without the need to seek permission from anyone. He stressed the misconception that buying digital assets is inherently more virtuous than selling them, emphasizing the individual’s autonomy in managing their holdings. Everyone who holds a digital asset can sell it if they wish to. Nobody has any obligation to you not to sell their digital assets. Buying is not somehow morally superior to selling. — David "JoelKatz" Schwartz (@JoelKatz) March 24, 2021 The CTO further delved into the personal implications, revealing that even he, as a prominent figure within Ripple, would be compelled to sell a significant portion of any XRP bonus received. Primarily, this stems from the elevated tax rates on earned income. If Ripple gave me a 1,000,000 XRP bonus tomorrow, I would have no choice but to sell about half of it very quickly because my marginal tax rate (Fed + CA) for earned income is around 50%. Distribution is very hard. — David "JoelKatz" Schwartz (@JoelKatz) March 24, 2021 Responding to suggestions on alternative distribution methods, such as placing XRP into automated market maker (AMM) pools or utilizing reward mechanisms, Schwartz offered nuanced perspectives. He explained that these methods effectively result in selling XRP or pose additional challenges, such as tax implications and vulnerability to fraud.One suggestion involved emulating the approach of other platforms like Enosys, which incentivize users with XRP rewards. However, Schwartz dismissed this as functionally equivalent to selling, emphasizing the risk of exploitation by fraudsters and the ineffectiveness of such strategies as XRP liquidity increases. The post Ripple CTO Stresses XRP Autonomy Amid Distribution Hurdles appeared first on Coin Edition.

Ripple CTO Stresses XRP Autonomy Amid Distribution Hurdles

Ripple’s CTO highlights individuals’ right to sell digital assets.

Tax implications drive the necessity of selling XRP, said David Schwartz.

Alternative distribution methods face hurdles, including tax concerns and susceptibility to fraud.

In a recent series of tweets, David Schwartz, the CTO of Ripple, engaged in a candid discussion regarding the distribution of XRP, Ripple’s native digital asset. Addressing concerns about centralized control and concentration of XRP, Schwartz provided insights into the challenges Ripple faces in ensuring a fair and equitable distribution of the cryptocurrency.

Schwartz started by highlighting the fundamental nature of digital assets, stating that holders can sell them without the need to seek permission from anyone. He stressed the misconception that buying digital assets is inherently more virtuous than selling them, emphasizing the individual’s autonomy in managing their holdings.

Everyone who holds a digital asset can sell it if they wish to. Nobody has any obligation to you not to sell their digital assets. Buying is not somehow morally superior to selling.

— David "JoelKatz" Schwartz (@JoelKatz) March 24, 2021

The CTO further delved into the personal implications, revealing that even he, as a prominent figure within Ripple, would be compelled to sell a significant portion of any XRP bonus received. Primarily, this stems from the elevated tax rates on earned income.

If Ripple gave me a 1,000,000 XRP bonus tomorrow, I would have no choice but to sell about half of it very quickly because my marginal tax rate (Fed + CA) for earned income is around 50%. Distribution is very hard.

— David "JoelKatz" Schwartz (@JoelKatz) March 24, 2021

Responding to suggestions on alternative distribution methods, such as placing XRP into automated market maker (AMM) pools or utilizing reward mechanisms, Schwartz offered nuanced perspectives. He explained that these methods effectively result in selling XRP or pose additional challenges, such as tax implications and vulnerability to fraud.One suggestion involved emulating the approach of other platforms like Enosys, which incentivize users with XRP rewards. However, Schwartz dismissed this as functionally equivalent to selling, emphasizing the risk of exploitation by fraudsters and the ineffectiveness of such strategies as XRP liquidity increases.

The post Ripple CTO Stresses XRP Autonomy Amid Distribution Hurdles appeared first on Coin Edition.
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Four Devs Linked to Munchable Exploit Are the Same Individual – ZachXBTZachXBT believes four devs linked to the recent Munchables exploit are the same person. The on-chain detective discovered the devs regularly transferred payments to the same addresses. Munchable lost $62.5 million in one of the biggest exploits of the year. ZachXBT, a famous crypto personality known for on-chain investigations, believes four devs linked to the recent Munchables exploit are the same person. In a recent post on X, the 2D detective highlighted the connections between the devs and how they point towards the fictitious characters of one individual. Four different devs hired by the Munchables team and linked to the exploiter are likely all the same person as they:>recommended each other for the job >regularly transferred payments to the same two exchange deposit addresses >funded each others walletsGithub Username… https://t.co/Q0scxp6AxK pic.twitter.com/Pjjo4uKXPE — ZachXBT (@zachxbt) March 27, 2024 According to ZachXBT, all four dev personalities recommended each other for the job with Munchables. From his investigations, he discovered the devs regularly transferred payments to the same two exchange deposit addresses, suggesting the characters funded each other’s wallets. Meanwhile, the on-chain detective further provided details of the exploiters’ payment and exchange deposit addresses, despite insisting they remain the same person. He identified the “fictitious” characters with their GitHub Usernames: NelsonMurua913, Werewolves0493, BrightDragon0719, and Super1114. On Tuesday, March 26, Munchables reported via its official X account that hackers had compromised its platform. The Web3 gaming platform based on the Ethereum Layer 2 Blast lost $62.5 million in one of the biggest exploits of the year. ZachXBT identified the exploiter’s address shortly after Munchable’s report, noting that the address contained about 17,400 ETH. Following the exploit, the GameFi project confirmed tracking asset movements to stop the transactions. The project also promised to keep users updated with the tracking process as they sought a solution to the exploit. Munchable also confirmed it allocated a compensatory treasury pool for all users who had ETH Deposited to re-claim their funds.  Data from Defillama shows a sharp drop in Munchable’s total value locked (TVL) following the exploit. The gaming projects’ TVL dropped from $96.16 million to $34.17 million in a few hours. Munchable has not provided further information to users nearly 24 hours after the exploit. However, the project’s community remains hopeful as the team and other interested parties continue tracking the transactions. The post Four Devs Linked To Munchable Exploit Are The Same Individual – ZachXBT appeared first on Coin Edition.

Four Devs Linked to Munchable Exploit Are the Same Individual – ZachXBT

ZachXBT believes four devs linked to the recent Munchables exploit are the same person.

The on-chain detective discovered the devs regularly transferred payments to the same addresses.

Munchable lost $62.5 million in one of the biggest exploits of the year.

ZachXBT, a famous crypto personality known for on-chain investigations, believes four devs linked to the recent Munchables exploit are the same person. In a recent post on X, the 2D detective highlighted the connections between the devs and how they point towards the fictitious characters of one individual.

Four different devs hired by the Munchables team and linked to the exploiter are likely all the same person as they:>recommended each other for the job >regularly transferred payments to the same two exchange deposit addresses >funded each others walletsGithub Username… https://t.co/Q0scxp6AxK pic.twitter.com/Pjjo4uKXPE

— ZachXBT (@zachxbt) March 27, 2024

According to ZachXBT, all four dev personalities recommended each other for the job with Munchables. From his investigations, he discovered the devs regularly transferred payments to the same two exchange deposit addresses, suggesting the characters funded each other’s wallets.

Meanwhile, the on-chain detective further provided details of the exploiters’ payment and exchange deposit addresses, despite insisting they remain the same person. He identified the “fictitious” characters with their GitHub Usernames: NelsonMurua913, Werewolves0493, BrightDragon0719, and Super1114.

On Tuesday, March 26, Munchables reported via its official X account that hackers had compromised its platform. The Web3 gaming platform based on the Ethereum Layer 2 Blast lost $62.5 million in one of the biggest exploits of the year. ZachXBT identified the exploiter’s address shortly after Munchable’s report, noting that the address contained about 17,400 ETH.

Following the exploit, the GameFi project confirmed tracking asset movements to stop the transactions. The project also promised to keep users updated with the tracking process as they sought a solution to the exploit. Munchable also confirmed it allocated a compensatory treasury pool for all users who had ETH Deposited to re-claim their funds. 

Data from Defillama shows a sharp drop in Munchable’s total value locked (TVL) following the exploit. The gaming projects’ TVL dropped from $96.16 million to $34.17 million in a few hours. Munchable has not provided further information to users nearly 24 hours after the exploit. However, the project’s community remains hopeful as the team and other interested parties continue tracking the transactions.

The post Four Devs Linked To Munchable Exploit Are The Same Individual – ZachXBT appeared first on Coin Edition.
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ADA Rallies By 12.20% Despite Social Media Critics on PerformanceMartyParty critiques ADA’s 1.68 TPS despite a $23.5B market cap, sparking debate. Cardano sees a 12.20% price surge, and a market cap rises to $24.165B, reflecting investor optimism. ADA trading volume soars by 35.40%, indicating increased market activity and interest. In a recent social media debate, MartyParty, a host of the crypto traders club space, criticized Cardano’s ($ADA) performance, juxtaposing its transaction speed with its market capitalization. According to the tweet, Cardano operates at 1.68 transactions per second despite boasting a $23.5 billion market cap.  The host said: Cardano ($ADA) is currently doing 1.68 transaction per second yet has a $23.5 billion marketcap? MartyParty’s message urged the community to reconsider their investments in Cardano, advocating for a switch to more efficiently performing blockchains. This statement, made on March 26, has sparked varied reactions within the cryptocurrency community. Cardano ($ADA) is currently doing 1.68 transaction per second yet has a $23.5 billion marketcap? 👀Please people be smarter – sell this token and move to a adopted performing blockchain native token. For the love of god. pic.twitter.com/7TPp401mbs — MartyParty (@martypartymusic) March 25, 2024 In contrast, a user known as SonofGeo has expressed unwavering support for Cardano, implying a deep belief in the blockchain’s potential beyond its current transaction speed. Nonetheless, MartyParty dismissed SonofGeo’s defense, emphasizing widespread uncertainty about Cardano’s capabilities. Yes nobody does — MartyParty (@martypartymusic) March 26, 2024 The recent bullish momentum of ADA added another layer to the ongoing debate. Cardano’s native token witnessed a significant 12.2% increase in its price over the past week and a notable surge in market capitalization to $24.165 billion. This upswing in value and market interest, characterized by a 35.4% hike in trading volume, reaching nearly $599 million, suggests growing investor confidence in the ADA token’s potential. ADA/USD 1-Week Chart (Source: CoinStats) The post ADA Rallies by 12.20% Despite Social Media Critics on Performance appeared first on Coin Edition.

ADA Rallies By 12.20% Despite Social Media Critics on Performance

MartyParty critiques ADA’s 1.68 TPS despite a $23.5B market cap, sparking debate.

Cardano sees a 12.20% price surge, and a market cap rises to $24.165B, reflecting investor optimism.

ADA trading volume soars by 35.40%, indicating increased market activity and interest.

In a recent social media debate, MartyParty, a host of the crypto traders club space, criticized Cardano’s ($ADA ) performance, juxtaposing its transaction speed with its market capitalization. According to the tweet, Cardano operates at 1.68 transactions per second despite boasting a $23.5 billion market cap. 

The host said:

Cardano ($ADA ) is currently doing 1.68 transaction per second yet has a $23.5 billion marketcap?

MartyParty’s message urged the community to reconsider their investments in Cardano, advocating for a switch to more efficiently performing blockchains. This statement, made on March 26, has sparked varied reactions within the cryptocurrency community.

Cardano ($ADA ) is currently doing 1.68 transaction per second yet has a $23.5 billion marketcap? 👀Please people be smarter – sell this token and move to a adopted performing blockchain native token. For the love of god. pic.twitter.com/7TPp401mbs

— MartyParty (@martypartymusic) March 25, 2024

In contrast, a user known as SonofGeo has expressed unwavering support for Cardano, implying a deep belief in the blockchain’s potential beyond its current transaction speed. Nonetheless, MartyParty dismissed SonofGeo’s defense, emphasizing widespread uncertainty about Cardano’s capabilities.

Yes nobody does

— MartyParty (@martypartymusic) March 26, 2024

The recent bullish momentum of ADA added another layer to the ongoing debate. Cardano’s native token witnessed a significant 12.2% increase in its price over the past week and a notable surge in market capitalization to $24.165 billion.

This upswing in value and market interest, characterized by a 35.4% hike in trading volume, reaching nearly $599 million, suggests growing investor confidence in the ADA token’s potential.

ADA/USD 1-Week Chart (Source: CoinStats)

The post ADA Rallies by 12.20% Despite Social Media Critics on Performance appeared first on Coin Edition.
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KuCoin CEO: Criminal Allegations Reflect Industry Growth, Not Unique to ExchangeKuCoin CEO addresses market FUD amid U.S. allegation of non-compliance. Last Friday, KuCoin became the first global exchange to register with India’s Financial Intelligence Unit. On-chain data shows KuCoin has sufficient reserves to honor withdrawal requests. KuCoin CEO Johnny Lyu has reacted to the growing messages of fear, uncertainty, and doubt (FUD) circulating in the community amid the recent charges filed against the prominent exchange by the U.S. government.  Lyu emphasized that such regulatory action is not unique to KuCoin but is widespread in the crypto scene. “The challenge we’re facing is not unique to KuCoin but rather typical growth and regulatory issues encountered by emerging industries,” the KuCoin CEO remarked. The challenge we're facing is not unique to KuCoin but rather typical growth and regulatory issues encountered by emerging industries. Early-stage development often sees regulatory gaps, but as the industry matures, we move towards and embrace compliance and standardization. — Johnny_KuCoin (@lyu_johnny) March 27, 2024 Furthermore, Lyu stressed that it is not far-fetched to see regulatory gaps in the early-stage development of an industry like cryptocurrencies. Accordingly, he noted that the crypto industry will move towards embracing compliance and standardization as it matures. Meanwhile, Lyu disclosed that KuCoin became the first global exchange to register with India’s Financial Intelligence Unit last Friday. “This reflects our respect for local regulations and a proactive approach to compliance,” he remarked. Notably, on Tuesday, March 26, the U.S. government charged KuCoin and two of its founders for failing to register under U.S. laws despite having a substantial number of Americans using the platform. Lyu stated that KuCoin’s legal team is already handling the matter. Meanwhile, the development created panic in the crypto space, with users moving en masse to transfer their funds out of KuCoin, fearing insolvency. However, on-chain data has shown that KuCoin is in good standing to process users’ surging withdrawal requests. In a recent post on X, Ki Young Ju, the founder of the analytic platform CryptoQuant, emphasized that KuCoin is working fine amid the panic. Young Ju shared on-chain data illustrating that while Bitcoin and Ethereum withdrawals surged on KuCoin, the outflows were primarily from retail investors. On-chain wise, @kucoincom is fine.$BTC and $ETH withdrawals surged, driven mainly by retail users, with a small impact on the overall reserve.They appear to not commingle customers' funds and have sufficient reserves to process user withdrawals. pic.twitter.com/p4bJJpwnFJ — Ki Young Ju (@ki_young_ju) March 27, 2024 Moreover, Young Ju disclosed that there are no indications that KuCoin commingles customer funds, noting the exchange has sufficient reserves to honor withdrawal requests. The post KuCoin CEO: Criminal Allegations Reflect Industry Growth, Not Unique to Exchange appeared first on Coin Edition.

KuCoin CEO: Criminal Allegations Reflect Industry Growth, Not Unique to Exchange

KuCoin CEO addresses market FUD amid U.S. allegation of non-compliance.

Last Friday, KuCoin became the first global exchange to register with India’s Financial Intelligence Unit.

On-chain data shows KuCoin has sufficient reserves to honor withdrawal requests.

KuCoin CEO Johnny Lyu has reacted to the growing messages of fear, uncertainty, and doubt (FUD) circulating in the community amid the recent charges filed against the prominent exchange by the U.S. government. 

Lyu emphasized that such regulatory action is not unique to KuCoin but is widespread in the crypto scene. “The challenge we’re facing is not unique to KuCoin but rather typical growth and regulatory issues encountered by emerging industries,” the KuCoin CEO remarked.

The challenge we're facing is not unique to KuCoin but rather typical growth and regulatory issues encountered by emerging industries. Early-stage development often sees regulatory gaps, but as the industry matures, we move towards and embrace compliance and standardization.

— Johnny_KuCoin (@lyu_johnny) March 27, 2024

Furthermore, Lyu stressed that it is not far-fetched to see regulatory gaps in the early-stage development of an industry like cryptocurrencies. Accordingly, he noted that the crypto industry will move towards embracing compliance and standardization as it matures.

Meanwhile, Lyu disclosed that KuCoin became the first global exchange to register with India’s Financial Intelligence Unit last Friday. “This reflects our respect for local regulations and a proactive approach to compliance,” he remarked.

Notably, on Tuesday, March 26, the U.S. government charged KuCoin and two of its founders for failing to register under U.S. laws despite having a substantial number of Americans using the platform. Lyu stated that KuCoin’s legal team is already handling the matter.

Meanwhile, the development created panic in the crypto space, with users moving en masse to transfer their funds out of KuCoin, fearing insolvency. However, on-chain data has shown that KuCoin is in good standing to process users’ surging withdrawal requests.

In a recent post on X, Ki Young Ju, the founder of the analytic platform CryptoQuant, emphasized that KuCoin is working fine amid the panic. Young Ju shared on-chain data illustrating that while Bitcoin and Ethereum withdrawals surged on KuCoin, the outflows were primarily from retail investors.

On-chain wise, @kucoincom is fine.$BTC and $ETH withdrawals surged, driven mainly by retail users, with a small impact on the overall reserve.They appear to not commingle customers' funds and have sufficient reserves to process user withdrawals. pic.twitter.com/p4bJJpwnFJ

— Ki Young Ju (@ki_young_ju) March 27, 2024

Moreover, Young Ju disclosed that there are no indications that KuCoin commingles customer funds, noting the exchange has sufficient reserves to honor withdrawal requests.

The post KuCoin CEO: Criminal Allegations Reflect Industry Growth, Not Unique to Exchange appeared first on Coin Edition.

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