According to PANews, Forbes recently published an article listing 20 'zombie tokens' with a market value exceeding $1 billion. These include XRP, ADA, BCH, LTC, ICP, ETC, XLM, STX, KAS, THETA, FTM, XMR, AR, ALGO, FLOW, EGLD, BSV, MINA, XTZ, and EOS. Forbes defines 'zombie tokens' as assets that have little use beyond speculative cryptocurrency trading. For instance, data from Messari shows that XRP has a market value of $36 billion, but its network transaction fees last year were only $583,000. This implies that the price-to-sales ratio (P/E ratio) of XRP is 61,689. In contrast, Nvidia, with a market value exceeding $2 trillion, had annual revenue of $61 billion, and its P/E ratio is only 37 times. Furthermore, Ethereum Classic (ETC) has a market value of $4.6 billion, but the fees generated in 2023 were less than $41,000. Forbes also cited ADA as an example, suggesting that the popularity of the token is directly proportional to the popularity of its founder, Charles Hoskinson. However, this is based on a falsehood. Hoskinson claimed to have dropped out of a doctoral program in mathematics at the University of Colorado Boulder, but the university stated that Hoskinson only dropped out of an undergraduate program. For years, Hoskinson has been hinting that Cardano is working for the Department of Defense's renowned research department, the Defense Advanced Research Projects Agency, but there has been no clear news.

The global cryptocurrency market cap now stands at $2.32T, down by -2.23% over the last day, according to CoinMarketCap data. Bitcoin (BTC) has been trading between $62,673 and $64,370 over the past 24 hours. As of 09:30 AM (UTC) today, BTC is trading at $63,812, up by 1.35%. Most major cryptocurrencies by market cap are trading higher. Market outperformers include ETHFI, ATA, and SSV, up by 30%, 23%, and 19%, respectively. Top stories of the day: Coinglass Data: Binance Tops CEX Bitcoin Wallet Balance, Kraken's Balance Decreases  DYdX Chain To Undergo V4.1.0 Software Upgrade Warning Issued Over WordPress Plugin Vulnerability Exploited By Attackers Ethereum Network Gas Fee Drops To 5 Gwei ETH/BTC Exchange Rate Sees Significant Rise US Users Banned Indefinitely From Using Wasabi Wallet Meme Coin Sector Sees Significant Growth, Analysts Remain Optimistic Bitcoin Network Records New High with 927,000 Daily Transactions SkyBridge Capital Founder Advocates Bitcoin Amidst Dollar Devaluation MicroStrategy's Bitcoin Strategy Boosts Institutional Crypto Exposure Market movers: ETH: $3310 (+6.13%) BNB: $602 (+1.23%) SOL: $142.8 (+4.75%) XRP: $0.5213 (+1.36%) DOGE: $0.14927 (+2.82%) ADA: $0.473 (+3.86%) SHIB: $0.00002483 (+1.06%) AVAX: $34.78 (+1.79%) TRX: $0.12071 (+0.30%) DOT: $6.908 (+3.60%) Top gainers on Binance: ETHFI/USDT (+30%) ATA/USDT (+23%) SSV/USDT (+19%)

On Apr 28, 2024, 02:54 AM (UTC). According to Binance Market Data, Bitcoin (BTC) has crossed the 64,000 USDT benchmark and is now trading at 64,027.171875 USDT, with a 1.68% increase in 24 hours.

On Apr 28, 2024, 02:52 AM (UTC). According to Binance Market Data, Ethereum (ETH) has crossed the 3,300 USDT benchmark and is now trading at 3,312.870117 USDT, with a 6.17% increase in 24 hours.

According to BlockBeats, the ETH/BTC exchange rate experienced a notable increase on April 28. The rate touched 0.05165 in the early morning and is currently reported at 0.05123. The 24-hour increase reached 4.21%, while the weekly increase hit 6.77%. This significant rise in the exchange rate indicates a strong performance for Ethereum against Bitcoin. However, it's important to note that the cryptocurrency market is highly volatile and subject to rapid changes. Investors are advised to keep a close eye on market trends and make informed decisions.

On Apr 28, 2024, 01:10 AM (UTC). According to Binance Market Data, BNB has crossed the 600 USDT benchmark and is now trading at 600 USDT, with a 1.18% increase in 24 hours.

According to CryptoPotato, Ripple's price is still on a downward trend with no signs of recovery yet. The market is currently in a critical area, and for any change to occur, the price should start recovering soon. In the USDT paired chart, XRP has significantly fallen below the 200-day moving average around the $0.6 level and has not yet risen above it. However, the $0.5 support zone has managed to hold the price, with the market consolidating above this level. If the price breaks above the 200-day moving average, it could signal the start of a bullish trend. Conversely, a breakdown of the $0.5 level could exacerbate the bearish trend, potentially leading to a significant market decline. In the BTC paired chart, the price has been making lower highs and lows since the start of 2024. However, the 800 SAT support zone has recently managed to hold the cryptocurrency, preventing further correction. The Relative Strength Index (RSI) is currently below 50%, but is showing signs of recovery. If the RSI rises above 50%, the market could potentially start rebounding towards the 1200 SAT. It is important for investors to conduct their own research before making any investment decisions and use the provided information at their own risk.

On Apr 27, 2024, 17:40 PM(UTC). According to Binance Market Data, Bitcoin has crossed the 63,000 USDT benchmark and is now trading at 63,149.988281 USDT, with a 1.19% decrease in 24 hours.

According to CryptoPotato, the meme coin sector has seen substantial growth, with Dogecoin (DOGE) and Shiba Inu (SHIB) leading the pack. Newer tokens such as dogwifhat (WIF) and Pepe (PEPE) are also gaining traction due to strong community support. Analysts are optimistic about the potential of this sector, especially after the Bitcoin halving, which has historically triggered market surges. The meme coin sector has made significant progress during the latest bull cycle, with its market capitalization briefly surpassing $60 billion. This growth is largely due to popular assets like DOGE and SHIB, which remain trending among investors. Newer tokens, including WIF, Bonk Inu (BONK), and PEPE, are also gaining popularity. Currently, DOGE and SHIB account for over 60% of the sector's market capitalization, and they are the only meme coins to have ever crossed the $10 billion mark. The AI-powered chatbot, ChatGPT, was asked whether another meme coin could reach this milestone. It estimated that success could be driven by strong community support, a viral social media presence, and increased investor interest. WIF and PEPE are some of the meme coins that have gained a solid supporter base. The dogwifhat community recently raised $650,000 to put the token's logo on the Sphere, a famous entertainment arena in Las Vegas, Nevada. The token also received backing from prominent industry participants, such as Arthur Hayes. A study conducted a few months ago estimated that Shiba Inu has the strongest community base among meme coins, with DOGE and PEPE rounding out the top three. The frog-themed digital asset currently has a market cap of over $3 billion, making it a major contender among the leading ones. Analysts remain optimistic that the meme coin sector will continue to flourish during the bull cycle. One contributing factor could be the recent Bitcoin halving, which has historically been a precursor for a major resurgence in the entire cryptocurrency industry. Shiba Inu, in particular, is poised for a price ascent in the near future due to its aggressive burning mechanism, the development of the layer-2 scaling solution Shibarium, and the predominantly negative SHIB exchange netflow on a weekly scale.

According to CryptoPotato, the Bitcoin network has achieved a new milestone with its daily transactions peaking at 927,000. This surpasses the previous record of 724,000 set in December 2023. The surge in transactions is attributed to the launch of Runes, a new token standard on the Bitcoin blockchain. Since its introduction following the halving on April 20, Runes has accounted for over two-thirds of all Bitcoin transactions, with more than 2.38 million transactions processed, making up 68% of the total. The data, sourced from a Dune Analytics dashboard shared by blockchain research firm Crypto Koryo, shows the significant adoption and usage of Runes alongside traditional Bitcoin transactions. These include ordinary peer-to-peer transactions, BRC-20s, and Ordinals. Runes experienced its highest activity on April 23, surpassing 750,000 transactions. However, the following day saw a significant decrease, with the transaction count dropping to 312,000, less than half of the previous day’s total. The new protocol, introduced by Ordinals Creator Casey Rodarmor, is promoted as a more efficient way to generate tokens on the Bitcoin network compared to BRC-20. However, some industry experts have expressed concerns. Nikita Zhavoronkov from Blockchair, for instance, criticized the amount of block space Runes transactions are occupying, suggesting that Bitcoin has deviated from Satoshi Nakamoto’s original vision as a peer-to-peer electronic cash system. The industry appears to be divided on whether Runes will offer a sustainable revenue source for Bitcoin miners.

According to U.Today, Bitcoin exchange-traded funds (ETFs) have seen a net withdrawal of $218 million, marking one of the largest outflows in the sector's history. On Thursday, Bitcoin funds experienced an overall outflow of $218 million, including a $23 million drawdown for the Fidelity Wise Origin Bitcoin Fund. This was the first such event since the fund started trading on January 11, alongside peers such as BlackRock's iShares Bitcoin Trust. BlackRock's fund, on Wednesday, ended a 71-day streak of continuous inflows. The group of over a dozen ETFs, which had been breaking records on its way to amassing combined assets of around $54 billion, has recently seen a decrease in demand. Bitcoin ETFs, which offer investors the opportunity to gain exposure to Bitcoin without the complexities of direct ownership, have been a popular choice among both experienced and novice investors. However, the recent outflow could signal a change in investor sentiment. The timing of the outflow coincides with a period of increased volatility in the cryptocurrency markets, characterized by sharp price swings. Bitcoin dropped to lows of $62,747 in Thursday's trading as demand for riskier investments was dampened by waning optimism for Federal Reserve interest rate cuts. At the time of writing, Bitcoin was up 0.86% in the last 24 hours to $64,498, down from a record high of $73,798 set in mid-March. Despite the outflow from U.S. Bitcoin ETFs, the long-term outlook for Bitcoin and the broader cryptocurrency market remains positive. Increased institutional acceptance and continued interest from regular investors are driving market development and innovation. While short-term fluctuations are expected, market participants remain optimistic about the long-term potential of Bitcoin and digital assets.

According to U.Today, XRP is currently at a critical support level of $0.51, facing a period of decreasing volume and technical uncertainty. The threat of a 'death cross' — a technical chart pattern where the 100-day EMA crosses below the 200-day EMA, often interpreted as a bearish signal for future price movements, further complicates the outlook. The RSI is currently below 50, suggesting a bearish market sentiment. If XRP fails to hold the $0.51 support, the next target could be the $0.45 support level, a point that marks the lows of previous major sell-offs. Ethereum's recent patterns on the price chart hint at growing strength in its market trend. The so-called 'higher low' on the chart indicates a potential shift away from bearish sentiment. If Ethereum continues to create these higher lows, it could form a strong trendline to act as support. Ethereum is reinforced by an ascending trading volume, a sign of increasing interest and a bullish indicator. If Ethereum maintains this trajectory and its support holds firm, it might aim at higher resistance levels. The next key resistance lies around $3,400, a breach of which could open up the path toward the $3,500 mark and beyond. Bitcoin is currently caught in a tight trading range, between its 50-day and 100-day EMAs. This technical situation can often foreshadow a surge in volatility, suggesting that Bitcoin could see significant price movements soon. Bitcoin is trading between the 50-day EMA at approximately $64,000 and the 100-day EMA at around $59,500. These levels act as short-term resistance and support levels, respectively. If Bitcoin can sustain a breakout above the 50-day EMA, it might target higher resistance near the $70,000 mark. Conversely, a drop below the 100-day EMA could see it testing further support around the $50,000 level. If Bitcoin fails to maintain its position above the $65,500 support level, it could enter a bearish phase, potentially falling toward lower support at $59,000.

On Apr 27, 2024, 10:56 AM(UTC). According to Binance Market Data, BNB has dropped below 590 USDT and is now trading at 589.700012 USDT, with a 2.17% decrease in 24 hours.

The global cryptocurrency market cap now stands at $2.37T, up by 0.47% over the last day, according to CoinMarketCap data. Bitcoin (BTC) has been trading between $62,391 and $64,820 over the past 24 hours. As of 09:30 AM (UTC) today, BTC is trading at $62,965, down by -2.39%. Most major cryptocurrencies by market cap are trading mixed. Market outperformers include GLM, LOOM, and POWR, up by 43%, 17%, and 12%, respectively. Top stories of the day: Binance's International Law Enforcement Training Day Draws over 1,300 Representatives from 86 Countries Hong Kong Institutions Apply for Virtual Currency Spot ETF 7800 Bitcoins Stolen from Duoyi Network Founder BlackRock's IBIT Records Zero Net Inflow/Outflow for Three Consecutive Days PayPal's Stablecoin PYUSD Sees Significant Increase in Circulation Cross-Chain Lending Protocol Pike Finance Suffers Hacker Attack Crypto Price Analysis: BTC, ETH, BNB, SOL, XRP and More — Trends and Predictions  Bitcoin Spot ETF Trading Volume Data Revealed Franklin Templeton Launches Ethereum ETF, As Per DTCC Data Hong Kong Financial Management Bureau Launches FiNETech Series Market movers: ETH: $3118.71 (-1.03%) BNB: $594.7 (-2.48%) SOL: $136.33 (-5.54%) XRP: $0.5142 (-2.28%) DOGE: $0.14517 (-4.03%) ADA: $0.4554 (-2.86%) SHIB: $0.00002457 (-4.95%) AVAX: $34.18 (-3.77%) TRX: $0.12034 (+2.12%) WBTC: $62985.76 (-2.36%) Top gainers on Binance: GLM/USDT (+43%) LOOM/USDT (+17%) POWR/USDT (+12%)

On Apr 27, 2024, 08:48 AM (UTC). According to Binance Market Data, Bitcoin (BTC) has dropped below 63,000 USDT and is now trading at 62,992.21875 USDT, with a 2.10% decrease in 24 hours.

According to PANews, Hong Kong-based institution, Value Partners, has applied to issue a virtual currency spot ETF, but did not appear on the approved list. Insiders revealed that Wui Li voluntarily withdrew its application due to inadequate preparation, time constraints, and insufficient manpower. Compared to the other three companies, Wui Li primarily conducts active business in Hong Kong, and its ETF business is relatively weak, hence the decision to observe first. Despite the fact that this batch of virtual currency spot ETFs was launched by three Hong Kong subsidiaries of domestic public funds, mainland investors are not allowed to participate in trading according to existing regulations. Markus Thielen, founder of crypto research company 10x Research, believes that if mainland purchases are allowed, these Bitcoin spot ETFs could attract $25 billion in funds. However, Bloomberg ETF analyst Eric Balchunas thinks otherwise. He believes that due to reasons such as the small size of the Hong Kong ETF market, the three domestic public fund managers not being on par with international asset managers like BlackRock, mainland retail investors not being able to trade, and doubts about product liquidity, even $500 million would be considered lucky.

According to BlockBeats, data from Farside Investors on April 27th reveals that BlackRock's IBIT has recorded zero net inflow/outflow for the third consecutive day. In addition, Grayscale's GBTC experienced a net outflow of $82.4 million, Fidelity's FBTC saw a net outflow of $2.8 million, and Bitwise's BITB recorded a net outflow of $3.8 million. The total net outflow for these funds was $83.6 million. These figures indicate a significant shift in the flow of funds within the cryptocurrency market. The reasons behind these movements are yet to be determined.

According to Foresight News, recent on-chain data reveals that PayPal's stablecoin, PayPal USD (PYUSD), has seen a significant increase in its total circulation. In the past 24 hours, approximately 100 million additional coins have been issued, bringing the total circulation to around 302 million. The data also shows that the total number of on-chain holders is 7,656, with the number of on-chain transactions standing at 85,177. This surge in circulation and transactions indicates a growing interest and trust in PYUSD among the crypto community.

On Apr 27, 2024, 01:18 AM(UTC). According to Binance Market Data, BNB has dropped below 590 USDT and is now trading at 587.099976 USDT, with a 3.47% decrease in 24 hours.

On Apr 27, 2024, 00:46 AM(UTC). According to Binance Market Data, Bitcoin has dropped below 63,000 USDT and is now trading at 62,987.25 USDT, with a 1.76% decrease in 24 hours.