Despite regulatory uncertainties, industry optimism surrounds the potential launch of an XRP ETF.

The involvement of major financial institutions hints at growing interest in regulated XRP investment avenues.

Market trends suggest a bearish sentiment towards XRP, reflected in recent price drops and decreased Open Interest.

The underlying possibility of the potential launch of the XRP ETF has once again rekindled the crypto community’s discussions. Despite legal uncertainties surrounding Ripple Labs’ ongoing battle with the U.S. Securities and Exchange Commission (SEC), optimism abounds among industry stakeholders regarding XRP’s future trajectory.

Martin Hiesboeck, an Uphold bank executive, maintains a positive attitude about Ripple listing their token as an ETF, which could happen soon. He points to ongoing developments within the XRP ecosystem as indicators of a potential uptick in its value. Nevertheless, the future of Ripple’s validity against the SEC is indispensable to XRP getting the security role, and that may affect its eligibility for an exchange-traded fund.

We are finally seeing the fruits of increased development on $XRP since the lawsuit was settled! An XRP ETP is around the corner too. There is life in the old girl.

— Dr Martin Hiesboeck (@MHiesboeck) March 12, 2024

Ripple CEO Brad Garlinghouse has echoed sentiments about launching an XRP ETF, particularly in light of recent regulatory developments. These remarks underscore a growing interest among industry players in offering regulated avenues for investors to access XRP. Despite the legal uncertainties, XRP’s rapid growth trajectory and robust trading volume position it as a compelling candidate for ETF inclusion.

A tweet by blockchain figure Armando Pantoja on April 5 further fuels speculation surrounding XRP’s potential ETF launch. Eleven prominent financial institutions, including heavyweights like BlackRock and Fidelity, are slated to submit an XRP ETF application on April 12. Analysts anticipate that such an ETF could inject over $150 million into XRPL volume daily, potentially reshaping the decentralized finance (DeFi) landscape.

🚨Breaking: 11 financial institutions, including BlackRock and Fidelity, will submit an $XRP ETF application on April 12. The #XRP ETF is expected to boost XRPL volume by over $150 million daily, impacting DeFi. Huge news.

— Armando Pantoja (@_TallGuyTycoon) April 4, 2024

Market trends reflect a bearish sentiment towards XRP despite regulatory challenges. The cryptocurrency has experienced a 0.10% price plummet in the past 24 hours, currently trading at $0.595047. CoinGlass data reveals a significant downtrend in Open Interest for XRP, reaching $883.95 million, indicating warning anticipation and participation in the market.

The post XRP Price Plummets Amidst ETF Anticipation: What’s Next for XRP and Investors? appeared first on Coin Edition.

Rekt Capital highlights a successful support retest on Dogecoin’s monthly chart.

The analyst thinks Litecoin is doing all the “right technical things” to maintain its uptrend.

According to Rekt Capital, Solana has successfully retested the $173 range low level.

The renowned crypto analyst identified as Rekt Capital has spotted a crucial development on Dogecoin’s monthly chart. According to the analyst, the flagship memecoin is retesting the $0.20 level on the monthly chart, coinciding with the retest of the “Orange Bull Flag” on the weekly chart.

$DOGEDogecoin is currently in the retesting phase of the red $0.20 level on the Monthly timeframe And this recent downside wick on the Monthly is essentially a retest of the orange Bull Flag on the Weekly Dogecoin is still following the plan#DOGE #Crypto #Dogecoin https://t.co/NDdRgN8D3I pic.twitter.com/MQGTQLSAxX

— Rekt Capital (@rektcapital) April 7, 2024

Following the latest development, Rekt Capital reiterated that Dogecoin’s price action was inconsistent with his previous prediction and is “following the plan.” The analyst previously highlighted that there could be increased volatility in Dogecoin’s price behavior, noting that it is part of the process.

Rekt Capital thinks Dogecoin will continue to rally, with the next target around $0.27 before pushing toward the $0.33 region. The memecoin recently dropped to $0.167 before reclaiming some losses to trade for $0.2 at the time of writing, according to data from TradingView.

Meanwhile, the renowned analyst spotted some positive developments in Litecoin’s price behavior. He stated that Litecoin is doing all the “right technical things” to maintain its newly confirmed uptrend. Rekt Capital highlighted that LTC has successfully retested the $94 level as new support.

Litecoin’s weekly chart showed the altcoin bounced off a $93.20 low last week before reclaiming the $100 psychological level. LTC traded for $100.63 at the time of writing, with bullish momentum that could trigger a retest of the recent double top between $112 and $115, according to data from TradingView.

In another development, Rekt Capital spotted a price cluster on the Solana weekly chart that could provide a crucial signal for the altcoin. According to the analyst, Solana reflected additional volatility to the downside, successfully retesting the $173 range low level. 

He noted that Solana has a chance for the weekly candle to close above the bull flag bottom at $184, confirming a retest of that level. Solana traded for $176 at the time of writing, according to data from TradingView.

The post Dogecoin Retests Key Level, Litecoin, and Solana Eye Bullish Breakouts appeared first on Coin Edition.

Dan Gambardello thinks Bitcoin is preparing for a significant rally after consolidation.

According to Gambardello, Bitcoin’s rally depends on a pullback in the Dollar Index.

The analyst noted Bitcoin will surge if it breaks above current resistance, otherwise, the price could drop to $65,000.

Renowned crypto analyst Dan Gambardello thinks the crypto market is preparing for a significant development after some reasonable consolidation. In a recently uploaded video, Gambardello noted that the Dollar Index is in a critical moment and needs to pull back for the crypto market to rally.

BITCOIN Apex ALERT! CARDANO Signals MAJOR Move!Intro 00:00U.S. Dollar currency indext 00:35Bitcoin halving month 1:30The next Bitcoin price move 2:55Is Cardano really underperforming 7:15Very clear note on the next ADA move 8:00This ADA dip has been normal 9:00Bullish… pic.twitter.com/kpmxXrVr5d

— Dan Gambardello (@cryptorecruitr) April 7, 2024

Gambardello explained that the outcome of the Dollar Index behavior will directly impact Bitcoin and cryptocurrencies. According to the analyst, the resulting situation could be significant following the crypto market’s latest consolidation.

In his analysis, Gambardello noted that the Dollar Index needs to drop for the crypto market to resume its rally. He showed that the metric has surged higher in the past few weeks but is currently around a Fibonacci resistance level. He also stated that a sideways or downward consolidation of the Dollar Index would favor Bitcoin.

Using Bitcoin’s monthly chart, Gambardello spotted similarities in the flagship crypto’s current behavior with the last bull cycle and the one before. He highlighted a significant consolidation in the 2016 Bitcoin price going into the halving. 

Gambardello cited a Bitcoin consolidation during the 2016 Bitcoin halving after pulling back from a Fibonacci resistance around the bull market doors. However, he spotted a difference in this year’s trend, noting that Bitcoin has already broken above the bull market.

Scaling down to Bitcoin’s weekly chart, the analyst showed a pattern that resembles the BTC behavior from the last cycle. He described how Bitcoin broke above the bull market doors before consolidating significantly. 

Merging his observations, Gambardello predicted that Bitcoin would rally if it broke above the upper resistance trendline. If not, the pioneer crypto could drop toward the $65,000 area and continue consolidating. Bitcoin was changing hands at $69,715 at the time of writing, according to data from TradingView.

The post BTC Nears Breakout, Relies On Dollar Index Pullback To Continue Rallying appeared first on Coin Edition.

Brad Garlinghouse remains optimistic about the growth of the crypto market in 2024.

Ripple CEO predicts the rise of global crypto market capitalization to $5 trillion by the end of 2024.

Garlinghouse’s predictions are based on the growing demand for Bitcoin ETFs and the upcoming Bitcoin halving.

Ripple CEO Brad Garlinghouse remains “very optimistic” about the crypto market gains this year, especially due to the emergence of the Spot Bitcoin ETFs. Reinforcing his bullish views, Garlinghouse forecasted that the crypto market capitalization would grow more than 2x to reach $5 trillion by the end of 2024.

Garlinghouse elaborated on the significant impact of the increasing demand for Bitcoin ETFs on the crypto market. Ripple CEO acknowledged Bitcoin ETFs as a game changer in the industry as it enabled the active participation of institutional and retail investors. He stated,

“I’ve been around this industry for a long time, and I’ve seen these trends come and go. I’m very optimistic. I think the macro trends, the big picture things like the ETFs, they’re driving for the first time real institutional money.”

According to the recent updates of CoinMarketCap, the global crypto market cap rests at $2.59 trillion, with a slight increase of 0.14% over the last 24 hours. Garlinghouse’s predictions provide a cheerful picture of the upcoming trends in the market, which will supposedly lead to the doubling of the current market cap.

Another prominent factor pointed out by Garlinghouse that substantially impacts the astounding growth of the crypto industry is the upcoming Bitcoin halving. According to his perceptions, while Bitcoin halving reduces the supply of new coins, the demand for Bitcoin increases. He stated,

“You’re seeing that drives demand, and at the same time demand is increasing, supply is decreasing. That doesn’t take an economics major to tell you what happens when supply contracts and demand expands.”

Following the Bitcoin ETF launch, the crypto market has seen a major uptick, with Bitcoin rising to a new all-time high of $73,700 on March 14. Despite fluctuations and the recent downward trend, investors and analysts believe the halving event would result in an imminent bull rally across the crypto market.

The post Ripple CEO Forecasts Crypto Market Capitalization Growth to $5T By Year End appeared first on Coin Edition.

Bitcoin price is set to break out towards $86,000, as per analyst Adrian Zidanic.

The analyst highlighted a bullish ascending triangle forming in Bitcoin’s chart.

With the upcoming halving, BTC can move up to $100,000.

Bitcoin’s price remains relatively stable, hovering between $68,000 and $71,000, despite touching the $70,000 mark again recently. Amid this sideways movement, analysts remain optimistic, citing bullish indicators that suggest a potential breakout on the horizon.

Adrian Zidanic, a respected analyst and part of the Crypt BB analyst group, has highlighted a bullish ascending triangle forming in Bitcoin’s chart during this period of consolidation at the “Thinking Crypto” podcast.

Zidanic anticipates a breakout soon, with a target price of $86,500. While acknowledging the possibility of unforeseen market movements, Zidanic’s analysis points to a higher probability of a bullish scenario playing out.

“Bitcoin is grinding sideways and it could break out of this bullish ascending triangle and head up to that $86,000 target or higher. I think it could go to $90,000. I have a range of $85,000 to $90,000. I hope it goes higher. I hope it can touch $100,000,” Zidanic opined.

The upcoming Bitcoin halving, just weeks away, adds to the anticipation. Historically, halving events have triggered bullish momentum in the market. Coupled with Bitcoin’s current consolidation phase and the formation of a bullish pattern, many investors are hopeful for a significant price surge in the near future.

Beyond Bitcoin, the broader crypto market continues to demonstrate resilience and growth. Tether, the leading stablecoin, reported a staggering $6.2 billion in net income for 2023, surpassing traditional financial giants like Goldman Sachs and Morgan Stanley. This underscores the increasing dominance of cryptocurrencies in the global financial landscape.

Moreover, political parties in countries like South Korea are leveraging crypto-related incentives to attract voters, reflecting the growing influence of the crypto community in mainstream politics.

Institutional involvement in crypto is also on the rise, with major players like BlackRock and Fidelity embracing digital assets through initiatives like Ethereum ETFs and tokenization of assets.

The post Bitcoin Price Target for April Stands at $86K: Analyst Says appeared first on Coin Edition.

A dormant whale becomes active after 10 years and moves 246 BTC worth $16.73 million.

In 2013, the whale accumulated 4,272 BTCs at an average price of $29.39 per coin, totaling $125,541 at the time.

Lookonchain sheds light on another whale’s massive purchase of 113.735 BTC worth $7.85 million from Binance.

In a recent turn of events, a dormant Bitcoin whale who had been inactive for 10.5 years became reportedly active. As per a recent X post of Whale Alert, the dormant whale address holds 1,701 BTCs, a collection worth $1,060,796 in 2014. However, according to the current price of Bitcoin, the whale now holds Bitcoins worth an astounding $115,417,623.

💤 💤 💤 💤 💤 💤 💤 💤 💤 💤 A dormant address containing 1,701 #BTC (115,417,623 USD) has just been activated after 10.1 years (worth 1,060,796 USD in 2014)!https://t.co/qSaOsnUV89

— Whale Alert (@whale_alert) April 6, 2024

Lookonchain, an on-chain analytics platform, shared deeper insights into the whale’s moves. In recent hours, the address reportedly transferred 246 BTC worth $16.73 million. In 2013, the whale received 4,272 BTCs at an average price of $29.39 per coin, totaling $125,541 at the time.

A whale with 1,701 $BTC ($115.42M) woke up after 10 years of dormancy and transferred 246 $BTC ($16.73M) out 20 mins ago.The whale received 4,272 $BTC ($125,541 at the time) in 2013 at an average price of only $29.39.Address: 1CLxmHRhoi9VpSj5QihqPEdbhLL8E1oeUZ pic.twitter.com/W45On1Q7vb

— Lookonchain (@lookonchain) April 6, 2024

In a subsequent post, Lookonchain unveiled another Bitcoin whale’s massive purchase of 113.735 BTC worth $7.85 million from Binance. According to Lookonchain’s post, the same whale has accumulated 1,308 BTCs worth $89.75 million, an average price of $68,617 since March 6.

These whales’ Bitcoin transfer and accumulation come amidst Bitcoin’s recovery to the $69k mark. Though Bitcoin has gone below the $65k mark in recent days, the pioneer cryptocurrency has managed to rise above its previous all-time high. At press time, Bitcoin is trading at $69,234, with a daily surge of 1.61%. Despite a weekly dip of 1.43%, Bitcoin has exhibited a hike above 5% over the last month.

The dormant address’ re-entry to the market and the whale’s massive Bitcoin accumulation have created a buzz in the crypto community. While whales and their transfers and accumulations significantly impact the cryptocurrency’s price, investors and traders are keenly awaiting to observe the price action following the whales’ significant moves.

The post A Dormant Bitcoin Whale Moves 246 BTC Worth $16.73 Million: Report appeared first on Coin Edition.

The NFT marketplaces have recorded a weekly decline of 13.72% in sales.

Bitcoin-based NFTs witnessed a 17.99% decrease in sales despite amassing over $66 million.

Ethereum achieves a total of $63.98 million in sales in the week, marking a fall of 8.89%.

The Non-Fungible Tokens (NFTs) have been experiencing a significant decline in their sales over the last month. According to the recent updates, the NFT market has dipped by more than 13% in sales from the previous week.

Notably, the NFT marketplaces’ downtrend is in stark contrast to the astounding achievements of the other sectors throughout March and the last week. The crypto trading volume reached an all-time high (ATH) in March, with spot trading volume rising by 108% to $2.94 trillion.

Similarly, the demand for Spot Bitcoin ETFs has also seen increasing over the month, especially over the past month. Reportedly, Bitcoin ETFs have surpassed $12.6 billion in total net inflows with BlackRock’s IBIT leading the pack, boasting a total inflow of $14.77 billion.

However, the NFT marketplaces plummeted in sales, with a 13.72% decline from the past week, marking the fourth consecutive week of sales decline. From March 29 to April 5, the market saw a steep downturn, with the top NFT blockchains experiencing weekly dips in sales.

It is noteworthy that Bitcoin-based NFT sales witnessed a 17.99% decrease from the previous week, despite achieving over $66 million over the last seven days. Ethereum followed with a total of $63.98 million in sales in the week, marking a fall of 8.89%.

Other leading NFT blockchains, such as Solana, Mythos, and Polygon, have also experienced dips in sales by 12.70%, 4.36%, and 19.7%, respectively. Considering the leading NFT collections, Uncategorized Ordinals boasts the top position in NFT sales over the week with $21.11 million, and the Bored Yacht Club (BAYC) follows with $6.68 million.

The post NFT Sales Decline for 4 Consecutive Weeks; Bitcoin NFTs Dip by 17% appeared first on Coin Edition.

Aave Chan Initiative founder Marc Zeller announces the potential vote for fee switch activation and distribution on Aave.

Zeller hints at its possible impact on the platform’s use of its annual net profits.

The platform’s move aligns with Frax Finance and Uniswap DeFi’s recent proposals to improve fee distribution schemes.

Aave Chan Initiative founder Marc Zeller announced a potential vote to activate a ‘fee switch’ on the decentralized language platform Aave. In an X post, he declared that the vote to check whether to turn on the fee switch and distribute fees to holders will possibly happen in the next week.

The Aave treasury "Cash" (Eth & Stables) is now at 50m$. (2.5 years of operational costs)Net DAO profits are currently at $50m/year and growing.Temp check to activate "fee switch" next week.You can track the treasury balances with @zapper_fi 👇https://t.co/HNRTcA5jCf

— Marc “Chainsaw” Zeller 👻 🦇🔊 (@lemiscate) April 6, 2024

According to Zeller’s post, the net DAO profit is currently at $50 million per year, and it keeps on growing. The post hinted at the new move’s possible impact on the Aave DAO’s use of its annual net profits. However, announcing the next week’s vote proposal, he wrote on X, “Temp check to activate “fee switch” next week.”

Previously, in an X post, Zeller shared insights on the Aave DAO’s fee distribution for GHO stakers on merit. The post read, “A new version of the safety module will propose to the governance to distribute fees to stakers.”

For now, GHO stakers get fees via Merit (next week).A new version of the safety module will propose to the governance to distribute fees to stakers.

— Marc “Chainsaw” Zeller 👻 🦇🔊 (@lemiscate) March 16, 2024

Aave’s plans to improve stakers’ rewards align with the recent moves of prominent industrial leads like Uniswap DeFi and Frax Finance. The decentralized stablecoin protocol Frax Finance recently approved the proposal to reimplement its protocol fee switch. Similarly, Uniswap has also proposed upgrading its protocol governance, focusing on the redistribution of protocol fees to UNI token.

Amidst this groundbreaking announcement, the Aave platform’s native token AAVE has surged by more than 5% over the last 24 hours. As of press time, AAVE is trading at $121, with a market cap of $1,790,746,874. Though the token exhibits a daily surge, AAVE’s trajectory over the past month has been bearish. The current price marks a decline of 1.20% in one month and 3.25% in one week.

The post Aave DAO To Follow Frax Finance & Uniswap in Improving Stakers’ Rewards appeared first on Coin Edition.

Despite a strong March, crypto fundraising dropped 23% in Q1 2024 compared to Q4 2023.

Early-stage crypto deals surged 73% in Q1, suggesting investor interest in new projects.

Eigen Labs and HashKey Group led fundraising in Q1 with $100 million each.

Messari, a prominent source of insight into the crypto market, has revealed a 23% decrease in fundraising for crypto projects quarter-over-quarter. Messari noted that this decline is primarily attributed to an exceptional month of fundraising in Q4 last year, spearheaded by Bitcoin miners.

Although March’s fundraising volume was remarkable, it failed to match the figures generated in November 2023. Consequently, the overall fundraising volume at the end of the first quarter of 2024 represents a 23% drop from the previous quarter.

Source: Messari

According to the chart accompanying Messari’s update, the total number of deals in March exceeded 280, with the total amount surpassing the $1.2 billion threshold. These figures significantly defeat those recorded in February and January. 

For instance, fundraising in February was under $750 million, though deal counts surpassed 200. In January, approximately $1 billion in crypto fundraising volume was documented, with deal counts of lower than 200. These figures imply that February was the worst-performing month regarding fundraising volume for the just-concluded quarter.

Notably, similar metrics are observable in October and December 2023. November was the outlier, as it saw a staggering $2 billion in fundraising volume. The November figure made the numbers for Q1 2024 pale in comparison, as a cumulative $2.98 billion was realized compared to about $3.87 billion in Q4 2023.

Meanwhile, the data analytics firm highlighted a significant surge in early-stage deals for Q1 2024. In particular, Messari reported Messari a remarkable 73% increase in volume for early-stage deals and a 53% rise in deal count quarter-over-quarter. 

According to the intelligence platform, this trend underscores a bullish appetite for new opportunities in the market.

Notably, Eigen Labs and HashKey Group led the fundraising funds for Q1 2024, with $100 million each, followed by Optimism, with $89 million.

The post March Crypto Fundraising Hits $1.2B, But Q1 Still Registers 23% Dip appeared first on Coin Edition.

A strong community is a reason memecoins like WIF and FLOKI might continue to perform well.

Increasing development within the AI space has made participants bullish on FET, and others.

TradFi’s involvement in the tokenization of assets has validated the bullish thesis for RWA tokens.

Many narratives have gained the attention of market participants this cycle. But not all of them have stayed relevant for a long period. However, there are three that have remained on the lips of investors and traders alike which are meme coins, AI, and Real World Assets (RWAs).

But these sectors did not just pop out as there are reasons investors are bullish on them. In this piece, Coin Edition explains why all three may outperform other sectors and why participants have stuck their guts with them.

Memecoins

For memecoins, the strength of the community is one reason investors have kept them close. In 2021, a strong and loyal community helped Dogecoin (DOGE) and Shiba Inu (SHIB) hit mind-blowing heights.

In this cycle, the community of a meme coin like dogwifhat (WIF) ensures that the price produces incredible gains. According to CoinMarketCap, the total market cap of memecoins has grown to an incredible $59.12 billion.

If the cryptocurrencies sustain the momentum that they’ve shown since the beginning of the year, then the market cap could cross $100 billion before the bull market ends. Other memecoins to watch out for apart from WIF are Floki (FLOKI), Pepe (PEPE), and  Bonk (BONK).

AI Coins 

The buzz around Artificial Intelligence globally is a major reason AI-themed tokens have put up incredible performance since 2023. However, it does not seem like the hype will end soon. 

For instance, the trio of SingularityNET (AGIX), Fetch.ai (FET), and Ocean Protocol (OCEAN) recently announced plans for a merge. If or when the community approves this proposal, the price of AI tokens might skyrocket again.

Besides that, another factor that could fuel the price increase is the series of AI conferences scheduled for later in the year. Historically, conferences like this trigger buying pressure, and in the coming months, it might not be any different.

At press time, the AI category of tokens was worth $38.38 billion. Going forward, the value could be higher especially as the price had undergone a significant correction within the last few weeks.

Real World Assets (RWAs)

Real World Assets is another narrative that seems like it won’t just go away, and there are reasons attached to it. For some time, traditional institutions have been tokenizing some of their funds. This was further validated by BlackRock’s $100 million commitment to tokenized projects built on Ethereum (ETH).

Currently, the market cap of this category is about $52.48 billion. But with the emergence of tokens like Ondo (ONDO) and Mantra (OM), that figure may jump anytime soon. These, and more, are many reasons investors have remained bullish on these three narratives.

The post The Next Big Thing? Why Investors Are Bullish on Memecoins, AI, & RWAs appeared first on Coin Edition.

The Spot Bitcoin Market recorded a net inflow of $203 million on April 3, surpassing $12.6 billion in total net inflow.

BlackRock’s IBIT leads the charge with a net inflow of $308 million and a total net inflow of $14.77 billion.

Grayscale’s GBTC marks a net outflow of $198 million, with its total net outflow exceeding $15.5 billion.

In an astounding turn of events, the net inflow of the Spot Bitcoin ETF market has surpassed $12.6 billion, with an average inflow of $213.8 million. Prominent crypto analyst Crypto Rover, in his recent X update, revealed that the Bitcoin ETF market saw an astounding inflow of $203 million on April 5, marking 4 consecutive days of net inflows.

💥BREAKING: The Spot #Bitcoin ETF inflow yesterday was: +$203,000,000 pic.twitter.com/qFVpBwfEHF

— Crypto Rover (@rovercrc) April 6, 2024

Colin Wu, a Chinese crypto journalist, has shed light on SoSoValue’s data, providing details on the remarkable inflow of Bitcoin ETFs. Leading the charge is BlackRock’s IBIT, with a net inflow of nearly $308 million on the day. With this notable addition of inflows, BlackRock currently boasts a total historical net inflows of $14.77 billion.

Source: SoSoValue

Fidelity’s FBTC is also not far behind, with a net inflow of $83.02 million marked on April 5. The cumulative net inflow of FBTC, as per SoSoValue, is $7.96 billion.

On the third spot is Bitwise’s BITB, boasting a net inflow of $7.39 million. Reportedly, BITB has experienced a total net inflow of $1.66 billion since its launch.

Contrastingly, Grayscale’s GBTC has recorded a net outflow of $198 million on the same day. Thus, Grayscale maintains its negative inflows, marking a total net outflow of $15.5 billion.

Meanwhile, Bitcoin is trading below the previous all-time of $69k despite a slight increase of 1.65% over the last day. As of press time, Bitcoin is priced at $68,052, marking a 2.58% increase over the last month but a 2.84% decline in the last week. With a market cap of $1,338,505,091,878, Bitcoin maintains its top position in the crypto market. 

The post Breaking: Spot Bitcoin ETFs Mark 4 Consecutive Days of Net Inflows  appeared first on Coin Edition.

The SEC lawsuit against Terraform Labs and Do Kwon is nearing its conclusion, with closing arguments scheduled for this Friday.

Allegations include fraudulent activities resulting in a $60 billion investor loss in Terra-LUNA stablecoin.

After evidence and closing arguments, preliminary jury instructions will be replaced with detailed ones.

The U.S. Securities and Exchange Commission (SEC) lawsuit against Terraform Labs (Terra) and its co-founder, Do Kwon, is nearing its conclusion as the jury trial approaches its final stages. As reported by Reuters on April 5, closing arguments from the legal representatives of Terraform Labs and Do Kwon will be presented this Friday. 

The trial’s main points are allegations that Terraform and Kwon engaged in fraudulent activities. Thus, SEC claims that these dealings ultimately led to the collapse of their stablecoin, causing investors to lose $60 billion Terra-LUNA in 2022.

Throughout the proceedings, both sides have presented their respective evidence and arguments, aiming to sway the jury’s decision. As the trial draws to a close, these closing statements will provide one last opportunity for each party to summarize their case and persuade the jury.

The U.S. Securities and Exchange Commission (SEC) labeled accusations of deceit against the Singapore-based company and its co-founder, Kwon. SEC claims that Terra-USD’s boss deceived investors regarding the stability of TerraUSD, a stablecoin intended to maintain a value of $1. The commission has also accused the company of falsely asserting that Terraform blockchain’s integration into a Korean mobile payment app called Chai.

During the trial that began on March 25, attorneys representing Terraform and Kwon contended that the SEC misinterpreted statements and relied on witnesses incentivized by potential whistleblower rewards. The regulator actively seeks civil financial penalties and industry bans against Kwon and Terraform.

Kwon was apprehended in Montenegro in March 2023 and remained absent from the trial. However, the U.S. and South Korea, Kwon’s home country, have pursued his extradition on criminal charges. The co-founder was the brain behind the design of TerraUSD and Luna, a token tied to the TerraUSD.

The U.S. Securities and Exchange Commission estimates investor losses at more than $40 billion across both tokens. This loss occurred when TerraUSD failed to maintain its $1 peg in May 2022. 

As a result, several cryptocurrencies, including Bitcoin, witnessed a downtrend. This downward pressure expanded into the broader crypto market, resulting in multiple company bankruptcies in 2022.

According to the SEC, Kwon and Terraform Labs partnered with a third party to move significant quantities of TerraUSD to pump its price when the stablecoin dipped from its $1 peg in May 2021. Kwon purportedly attributed the rebound to TerraUSD’s algorithmic reliability, per the regulator’s assertions.

Furthermore, the SEC alleged that Kwon and Terraform misrepresented Terraform’s blockchain as the underlying technology facilitating transactions between consumers and merchants on the Chai payment app.

In the ongoing trial legal proceedings, Judge Rakoff briefed the jury on the case brought forth by SEC against Terraform Labs and Do Kwon. Following the conclusion of all evidence and closing arguments from both sides, the initial preliminary instructions given to the jury will be replaced by more detailed instructions.

During the trial, Brian Curran, Terraform Labs’ former head of communications, took the stand as a witness against the company. The former Terraform insider revealed insights into its alleged deceptive activities by the company and his former boss.

The post SEC vs. TerraLabs: Defense Presents Final Arguments to Jury in Do Kwon Case appeared first on Coin Edition.

Solana recently experienced transaction failures across 75% of transactions.

Team Lead Matt Sorg responded that the failure was not a bug but a feature of user protection.

Matt details the types of transaction results, pouring more light into the prevailing issues.

Solana’s network congestion and failed transactions have created a buzz in the community recently. Responding to the matter, Matt Sorg, the Tech and Product Lead at Solana, shared an article positing that a failed transaction is not a “bug” but a “feature of user protection.”

https://t.co/bsVVfaiGWG

— Matt Sorg 🍨 (@tamgros) April 5, 2024

Solana recently experienced transaction issues, with around 75% of transactions reportedly failed. According to a recent X post shared by Colin Wu, a Chinese crypto reporter on Wu Blockchain, the Solana network has been confronting delayed or failed transactions. Reportedly, the core issue is based on a QUIC implementation and an Agave client implementation.

Phantom shows that the Solana network is currently experiencing congestion and users' transactions may fail or be delayed. The core issue relates to a QUIC implementation, and the behavior of the Agave validator client on Solana when asked to process a large number of requests.… https://t.co/KuutKBbB0B

— Wu Blockchain (@WuBlockchain) April 6, 2024

Sorg asserted that the prevailing issues aren’t a matter of failed transactions. Ensuring that there are “known solutions” for the issue, he added, “

“Transaction reliability is incredibly important and the current status is unacceptable. The implication that there is a fundamental flaw in the network is incorrect. Solana is a highly efficient protocol that hasn’t nearly hit its scaling ceiling. This particular issue doesn’t hit the transaction processing part of the protocol and isn’t an issue of failed transactions.”

Unveiling the real connotation of the word “failure,” Sorg explained that a transaction failure is “an application-level functionality.”  Though the transactions are entitled as failed, they do not imply the protocol’s inability to process the logic or load.  He added, “When a transaction fails, the network is protecting consumers and users by checking the conditions of a transaction.”

Further, Sorg elaborated on the transaction results, which could be either “executed” or “dropped.” The execution level is marked when the transaction is included in a block, and the fee is paid. There are two subcategories for the level: Executed Successful and Executed but failed. When there is no error in the transaction, it is executed successfully, and if it returns an error, it is executed but failed.

Commenting on Solana’s recently reported transaction failures, Sorg referred to the result as “dropped.” He added that the troubles can arise when “any of the conditions in the transaction logic aren’t met.”

The post Solana’s Team Lead Ensures “Known Solutions” for Transaction Failures appeared first on Coin Edition.

ZA Bank in Hong Kong is discussing establishing cash reserve accounts with potential stablecoin issuers.

A ZA Bank executive disclosed engaging with about eight prospective corporate clients exploring stablecoins.

The HKMA has initiated accepting applications for trials concerning stablecoin issuance.

ZA Bank in Hong Kong is currently in discussions with potential stablecoin issuers regarding establishing accounts for the cash reserves supporting these tokens. Details of this development were captured by Bloomberg, citing Devon Sin, General Manager of Business Banking & Lending at ZA Bank.

Devon Sin revealed that the digital bank is engaging with approximately five to eight prospective corporate clients, both existing and new, who are exploring the possibility of launching stablecoins. Upon official admission to a regulatory sandbox by the Hong Kong Monetary Authority (HKMA), these clients will be provided with fiat reserve accounts.

During an interview, Sin highlighted the diverse applications of stablecoins, ranging from wholesale and retail markets to tokenization and overseas remittance solutions. “We are keen to explore how to put them into real-world use with the potential issuers,” the bank executive added.

Devon Sin mentioned that ZA Bank will contemplate offering custody services for virtual assets, including stablecoins, and will explore the necessary infrastructure requirements.

Following a notable presentation to the Web3 sector by ZA Bank, addressing grievances regarding limited banking services, Sin stated that the bank has facilitated transfers exceeding $1 billion from over 100 Web3 clients. Meanwhile, as of 2022, the eight virtual banks licensed in Hong Kong have reported losses in their annual reports. However, according to Sin, ZA Bank aims to achieve break-even status this year.

Notably, Hong Kong is actively striving to cultivate a digital asset hub to revive its status as a prominent financial center. Recently, the city granted licenses to its inaugural cryptocurrency trading platforms under updated regulations. Last December, Hong Kong regulators disclosed their readiness to list spot crypto exchange-traded funds (ETFs). 

Also, the HKMA is formulating a framework tailored for stablecoins pegged 1:1 to fiat currencies, typically supported by cash and bond reserves. Since last month, the HKMA has initiated accepting applications for trials concerning stablecoin issuance. As of April 3, no projects had commenced.

The post ZA Bank Explores Providing Hong Kong Accounts for Stablecoin Issuers appeared first on Coin Edition.

An analyst said BTC had formed solid support on the 4-hour chart.

Another analyst encouraged his followers to stack more altcoins or meme coins.

The 50 EMA crossed the 200 EMA on the BTC daily chart, suggesting a rise toward $75,000.

Crypto analyst Ali Martinez posted on X, saying that Bitcoin (BTC) had formidable support on the 4-hour chart that could prevent it from dropping. According to him, this support might ensure that the price rebounds from the recent lows.

However, he also mentioned that if BTC does not break through the 200 EMA, then the value of the coin might decrease.

The 200EMA on the #Bitcoin four-hour chart has been formidable support. Since early February, it has prevented #BTC from dropping further. For this reason, I'm paying close attention to this level because if it holds, it guarantees a rebound, but if it breaks as it did in… pic.twitter.com/cnfruT9wUJ

— Ali (@ali_charts) April 2, 2024

However, another analyst with the handle SlumDOGEMillionaire told his followers not to put a lot of money into Bitcoin. According to him, the coin might not be able to produce high returns as it has done in previous cycles.

SlumDOGEMillionaire then added that altcoins like Solana (SOL), and Avalanche (AVAX) could provide greater returns. Besides these cryptocurrencies, the analyst also encouraged his followers to keep an eye on meme coins. 

Some of the meme coins he mentioned include dogwifhat (WIF), Pepe (PEPE), and BRETT on Base. At press time, Bitcoin’s price was $66,887. But before the recent decline, the value climbed above $69,000.

I don’t know who needs to hear this but if you want to make some serious money this bull run do not buy #Bitcoin Seriously – you might 3X at best.If #BTC goes go $200K, that’s about as much as you’re going to get, best bull case scenario it goes to $250K 🤷🏼‍♂️Still only a 3.5X…

— SlumDOGE Millionaire (@ProTheDoge) April 5, 2024

Bitcoin Price Analysis

From a technical perspective, the daily chart showed that Bitcoin showed bullish potential. This was evident in the trend shown by the Exponential Moving Average (EMA). As of this writing,  the 50 EMA (blue) had crossed over the 200 EMA (orange).

However, if BTC falls below $63,279, the price drops below $57.105. On the other hand, if Bitcoin sustains its momentum at a higher level, the price might extend toward $70,000. In a highly bullish case, the value of Bitcoin might climb past $75,000.

BTC/USD Daily Chart (Source: TradingView)

Meanwhile, traders might need to be careful as volatility around the coin might surge. Should this be the case, BTC might experience massive price fluctuations which could either capitulate the value or drive it higher.

In conclusion, the opinion that PEPE, WIF, SOL, and some other altcoins might outperform Bitcoin could be valid considering the difference in market cap.

The post Bitcoin or Not: Analysts Reveal Different Long-Term Predictions appeared first on Coin Edition.

According to ARKHAM report, Bitcoin total value currently stands at $20,183,095.86, with a recent decline of $55.56K, likely reflecting minor day-to-day fluctuations. Notably, Bitcoin constitutes a significant portion of this portfolio, with holdings totaling 300.348 BTC valued at $20.18M, as each Bitcoin is priced at $67,199.00, down $185.00 from its previous value. 

Source: ARKHAM 

Alongside this insight, BlackRock’s IBIT Bitcoin ETF experienced a notable surge in inflows on Wednesday, reflecting a positive shift in sentiment within the cryptocurrency market.

The influx of $113 million marked a turnaround from Monday’s net outflows of $85.7 million, primarily driven by Grayscale’s GBTC. The slowdown in GBTC outflows, totaling $75.1 million on Wednesday, contributed significantly to this reversal.

Farside data reveals a total net inflow of $12.2 billion, with Fidelity’s FBTC leading with $116.7 million, followed by Blackrock’s IBIT with $42 million, and Bitwise’s BTIB recording $23 million in inflows. Other ETFs witnessed relatively modest inflows, each adding less than $4 million. This resurgence in inflows contrasts sharply with the earlier part of the week, underscoring the dynamic nature of cryptocurrency investment.

The easing of outflows from Grayscale’s GBTC ETF is particularly noteworthy, with Wednesday’s figure marking its lowest since February 26. This positive development follows a period of significant selling pressure triggered by Genesis Global Holdco LLC’s potential sale of 35.9 million GBTC shares, valued at around $2 billion. Genesis received permission from the U.S. Bankruptcy Court for the Southern District of New York to proceed with the sale on February 14.

One distinguishing factor among the various ETFs is the fee structure, with GBTC charging a higher fee of 1.5% for its spot Bitcoin ETF compared to FBTC and IBIT, which charge 0.25%. Despite outflows and complaints, GBTC appears unlikely to lower its fee in the near term.

Equity mutual funds have seen $3.5T of outflows in past 10yrs yet their assets has jumped by $6T to reach $14T bc stocks up 280% in that time. This prob the best eg of the "bull market subsidy" there is and why $GBTC likely not motivated to lower fee despite outflows/complaints pic.twitter.com/z47TFeqmVq

— Eric Balchunas (@EricBalchunas) April 3, 2024

Bloomberg ETF analyst Eric Balchunas attributes this to the bullish market conditions, likening it to the situation with equity mutual funds, which have seen significant outflows but have continued to increase in assets due to overall market performance.

The post BlackRock’s IBIT Bitcoin ETF Sees Surging Inflows As GBTC Outflows Ease appeared first on Coin Edition.

Binance enforces strict KYC requirements for sub-accounts to boost compliance.

Unverified sub-accounts risk losing Binance Link Program access.

Communication solely with Exchange Link holders underscores user responsibility.

In a recent update, Binance has introduced stringent identity verification requirements for all its sub-accounts under the Binance Link Program, aiming to enhance compliance standards. According to the update, the exchange has been imposing restrictions on sub-accounts that lack the necessary Know Your Customer (KYC) documentation since March 20, 2024. 

Binance Exchange Link: Mandatory Identity Verification (KYC) Requirementshttps://t.co/dtZzWa0xhQ

— Binance Announcement (@BNAnnouncement) April 5, 2024

Moreover, the firm explained that on May 20, 2024, unverified sub-account holders will face full access restrictions and lose the ability to use Binance Link Program services. Concurrently, the updated policy mandates that Exchange Link account holders integrate with the Link-KYC module to ensure all sub-accounts comply with enhanced standards. 

This includes providing detailed information on behalf of their sub-account holders, such as Source of Funds, Source of Wealth, and Proof of Address. Emphasizing the importance of complete and accurate user information for successful onboarding, Binance asserted that it will directly communicate with Exchange Link account holders only and will not be responsible for communicating with sub-account users.

Additionally, Binance may request a Politically Exposed Persons (PEP) Declaration to further scrutinize sub-account holders for compliance purposes. Sub-accounts with incomplete KYC information will face various restrictions, including limitations on deposits, spot trading, futures trading, and margin trading.

In some cases, funds may be frozen and access to sub-accounts restricted for legal and compliance reasons. Binance has also set an administrative fee for the appeal process regarding misplaced deposits, emphasizing the need for Exchange Link account holders to keep their sub-account users informed.

The announcement wraps up by mentioning that access restrictions could apply if Binance Exchange Link account holders are unreachable, unresponsive, or uncooperative. As a result, Exchange Link account holders might see their accounts downgraded to corporate status, with unused sub-accounts being removed.

The post Binance Implements Mandatory KYC for Sub-Accounts in Compliance Push appeared first on Coin Edition.

Chief legal officer Amanda Tuminelli said crypto may need the Supreme Court’s intervention.

The view comes amid two district judges issuing conflicting crypto asset classification rulings.

Pundits suggest a higher court could reverse the XRP victory ruling.

Participants in the crypto market continue to clamor for clear crypto rules from U.S. regulators, particularly from the SEC, infamous for charging crypto firms with violating federal security laws.

A significant breakthrough emerged when U.S. District Judge Analisa Torres ruled against the SEC in July 2023 that XRP is not a security. However, the SEC recently secured a victory over crypto exchange Coinbase regarding how crypto assets may classify as security.

In particular, U.S. District Judge Katherine Failla sided with the SEC by ruling that tokens sold on exchanges like Coinbase qualify as investment contracts. Meanwhile, Judge Torres rejected this view in the XRP case. She ruled that such transactions occur through blind bid/ask trades and, hence, do not classify as investment contracts.

Will Crypto Have to go to the Supreme Court For Clarity?Amanda Tuminelli, Chief Legal Officer at the DeFi Education Fund, joins me to discuss this and more. @amandatums WATCH ▶️ https://t.co/MDHkmszE7YTopics:– #DeFi Education Fund's Mission – Suing the #SEC over the Beba… pic.twitter.com/wX7eQlgDTH

— Tony Edward (Thinking Crypto Podcast) (@ThinkingCrypto1) April 4, 2024

These opposing rulings from two federal courts in the United States have sparked speculations that a higher court could reverse the XRP victory ruling. Charles Gasparino, a senior correspondent at FOX Business Network, recently raised this possibility, citing securities lawyers. However, other prominent legal figures in the community keenly contested the view.

Accordingly, these uncertainties have led to speculation that the crypto industry may have to move up to the U.S. Supreme Court to get clarity on how to categorize crypto assets. Amanda Tuminelli, the Chief Legal Officer at the DeFi Education Fund, weighed in on the discussion in a podcast with Tony Edward.

According to Tuminelli, the issue is likely headed for the Supreme Court. She pointed out that if the Fifth Circuit Court of Appeals diverges from the Second Circuit’s decision, it would create a circuit split. In such a scenario, the Supreme Court typically resolves the split. 

Moreover, the legal expert explained that the quickest route for the cases to reach the Supreme Court would be if appeals occur in different regions and yield conflicting outcomes. Such a development makes it imperative for the Supreme Court to intervene and provide a definitive ruling.

The post Will Crypto Have to Go to The Supreme Court For Clarity? appeared first on Coin Edition.

W was on the verge of forming a bullish flag, indicating that the price might rise to $1.80 in 2024.

By 2026, the price of the token is expected to hit $6.45 but might be bearish in 2027.

In 2030, W’s price might have surpassed $10.50 and probably hit $11.87.

Many new projects have been springing up in 2024, and Wormhole is one of them. Though the project started development a long time ago, it was able to build a loyal community and rewarded the early users recently.

In this article, Coin Edition discusses the potential of W and the price predictions from 2024 to 2030.

Table of contents

Wormhole (W) Real Time Market Status

What is Wormhole?

W Current Market Status

Wormhole (W) Price Analysis

Wormhole (W) Price Analysis- Bollinger Bands

Wormhole (W) Price Analysis- Relative Strength Index (RSI)

Wormhole (W) Price Analysis- Moving Average Convergence Divergence

Wormhole (W) Price Prediction 2024

Wormhole (W) Price Prediction- Resistance and Support Levels

Wormhole (W) Price Prediction 2025

Wormhole (W) Price Prediction 2026

Wormhole (W) Price Prediction 2027

Wormhole (W) Price Prediction 2028

Wormhole (W) Price Prediction 2029

Wormhole (W) Price Prediction 2030

Wormhole (W) Price Prediction 2040

Wormhole (W) Price Prediction 2050

Conclusion

FAQ

Wormhole (W) Real Time Market Status

HTTP Request Failed... Error: file_get_contents(https://api.tokenncoin.com/coins/info?name=w): Failed to open stream: HTTP request failed! HTTP/1.1 404 Not Found What is Wormhole?

Wormhole is a project built to power multichain applications. Beyond this feature, the project gives developers access to liquidity while users of over 20 blockchains can participate in governance, trade DeFi, and own NFTs with the network.

Big firms like Uniswap and stablecoin issuer Circle trust Wormhole as the platform has helped in facilitating cross-chain transactions worth billions of dollars.

W Current Market Status

Wormhole’s price as of this writing was $0.97, representing a 29.75 % decrease since the project launched. The price decline could be linked to the profit-taking from eligible recipients of the W airdrop.

Like the price, the trading volume of the cryptocurrency also fell. At the time of writing, W’s 24-hour trading had decreased by 58% to hit $720.56 million. The market cap, on the other hand, was $1.75 billion and was ranked 64th by CoinMarketCap.

When it comes to the supply, data showed that it has a total and maximum supply of 10 billion tokens. However, only 1.80 billion were in circulation. W is available on many exchanges including Binance, OKX, Gate.io, and Bybit. You can also find the token on other exchanges besides these four.

Wormhole (W) Price Analysis

To predict W might be challenging because it only launched a few days ago. However, that does not mean that technical indicators cannot identify certain trends the token might display. Therefore, this section will give an in-depth analysis of W’s short-term price action. Also, you will learn about the price predictions from 2024 to 2030.

Wormhole (W) Price Analysis- Bollinger Bands

The Bollinger Bands (BB) on the W/USD 1-hour timeframe showed that volatility around the token has started to increase. Previously, the band contracted. However, the recent expansion showed that W might have to deal with significant price swings in the coming days.

From a bullish perspective, W’s price might hit $1.23. On the other hand, a bearish forecast places the price at $0.91.

W/USD 1-Hour Chart (Source: TradingView) Wormhole (W) Price Analysis- Relative Strength Index (RSI)

Indications from the Relative Strength Index (RSI) showed that W  was oversold on April 4 as the reading fell below 30.00. But at press time, it seemed that bulls had come to the token’s rescue as the RSI reading increased.

However, the momentum was not yet completely bullish as it was still below the neutral area. If buying pressure increases, then bulls might completely take charge of the momentum and W’s price might recover.

W/USD 30-Minute Chart (Source: TradingView) Wormhole (W) Price Analysis- Moving Average Convergence Divergence

The 30-minute chart showed that the Moving Average Convergence Divergence (MACD) was positive. However, the short and long EMA were below the zero midpoint, indicating that W had not exited the claws of bears yet.

Despite the indications, the MACD showed that W has the potential to bounce. If the EMAs climb toward the positive region, then the bullish bias might be validated. If not the bearish momentum might continue for some time.

W/USD 30-Minute Chart (Source: TradingView) Wormhole (W) Price Prediction 2024

According to the 1-hour chart, W had formed a descending channel, indicating high selling pressure. However, exhaustion might soon appear and sellers might lose hold of the momentum. 

If this happens, W might break out and form a bullish flag. Should this be the case and buying pressure increases, the price of the token might climb toward $1.80 in the short term.

A look at the Awesome Oscillator (AO) showed that the reading was negative. However, green bars on the indicator suggested that a bounce could be close. For 2024, W’s price is expected to recover from the lows, and by the end of the year, it could rise to $3.85.

W/USD 1-Hour Chart (Source: TradingView) Wormhole (W) Price Prediction- Resistance and Support Levels

On April 3, W faced rejection as it attempted to hit $1.60. As a result of that, the price fell as low as $0.95. However, bulls considered this spot as an ideal value to build support. Although the action has not yielded a notable result, it is unlikely for W to decline below $0.90.

On the upside, the token might face resistance at $1.24 if the price swings upwards. If successfully breached, the price might jump toward $1.80. But that would depend on the resistance at $1.59. Failure to break through the overhead resistance might send W back below $1.

W/USD 30-Minute Chart (Source: TradingView) Wormhole (W) Price Prediction 2025

By 2025, Wormhole is expected to be a top 50 project. If this is the case, the price of the token might increase and probably hit $4.50.

Wormhole (W) Price Prediction 2026

Wormhole boasts of a loyal community since it was in the Testnet stage. As it stands, it does not seem like the community would leave the project behind. Should this be the situation, there might be a surge in the adoption of W in 2025 which could place its price prediction at $6.45 in 2026.

Wormhole (W) Price Prediction 2027

By 2027, the price of W might slow down its bullish trajectory. However, that does mean that it would go lower than the value of 2024. Therefore, the price prediction for 2027 could be $2.80.

Wormhole (W) Price Prediction 2028

2028 is projected to be a bullish year for the crypto ecosystem at large. As a result, the prices of tokens like W might surge. As such, the price might hit $8 in 2028.

Wormhole (W) Price Prediction 2029

In 2029, the blockchain Wormhole interacts with might have surpassed the current number. Hence, the number of new addresses buying W might increase. This places the price prediction at $10.50.

Wormhole (W) Price Prediction 2030

In 2030, W’s price could rally very high. Several factors could drive this hike, including increased volume in tokens bridged on the network and capital inflow. Thus, the price could hit $11.87 in 2030.

Wormhole (W) Price Prediction 2040

The price of W is expected to remain in the double-digit region by 2040. While there could be a correction leading to the year, it is projected that the value could end up at $14.39.

Minimum Price  Average Price Maximum Price $9.36 $12.04 $14.39

Wormhole (W) Price Prediction 2050

By 2050, cryptocurrency should have gained massive traction and adoption across nations. Hence, the price prediction for W could be around $18.74.

Minimum Price  Average Price Maximum Price $13.38 $14.25 $18.74

Conclusion

In conclusion, W seems like a project that would attract a lot of users depsite its recent drawdown. As mentioned earlier, the token is still in the price discovery stage. Once the selling pressure settles, then buyers and sellers will decide on the particular trend for the token. In the long run, W’s price might jump but to profit from its, you need to find a good entry.

FAQ

What is W?

W is the native cryptocurrency of Wormhole, a platform that powers multichain applications.

How do you buy W?

You can buy W by going to different exchanges like Bitget, Binance, Gate.io, or Bybit.

Is W a good investment?

W can be a good investment even though it’s still early days. One of the reasons for this is because it grants users access to bridge between a lot of blockchains. Hence, demand for the token might increase, and this might push the price higher.

What is W’s all-time high?

W’s all-time high was $1.59 on April 4, 2024.

Will W reach $5 soon?

W can reach $5. But it is uncertain if the token will hit the price soon. However, if the hype around the project before it was launched stays the same or improves, then W can hit $5 within some months.

What is the maximum supply of W?

The maximum supply of W is 10 billion tokens.

Will W surpass its current ATH?

Yes, W can surpass its current ATH as it seems to be in the price discovery stage. Once, the airdrop addresses stop selling, the price of the token might consolidate for a while before a rally might begin.

What is the lowest price of W?

The lowest price of W was $0.95 on April 5, 2024.

Who is the founder of W?

The founder of Wormhole is Robinson Burkey.

Which year was W launched?

W was launched in 2024.

How do I store W?

You can store W on a crypto wallet depending on the blockchain you utilize. You can also store the tokens on exchanges where you buy them.

What will be the price of W in 2024?

W’s price might be $3.85 by December 2024.

What will be the price of W in 2025?

It is expected that W hit $4.50 in 2025.

What will be the price of W in 2026?

In 2026, W’s price could be $6.45.

What will be the price of W in 2027?

By 2027, W’s price is expected to undergo a correction that could drive the price down to $2.80.

What will be the price of W in 2028?

In 2028, W’s price might be $8.

What will be the price of W in 2029?

The price of W is expected to hit $10.50 in 2029.

What will be the price of W in 2030?

By 2030, W’s price could be $11.87.

What will be the price of W in 2040?

The price of W could be $14.39 by 2040.

What will be the price of W in 2050?

W is expected to hit $18.74 in 2050.

The post Wormhole (W) Price Prediction 2024-2030: Will W Price Hit $5 Soon? appeared first on Coin Edition.

Bitcoin shows muted volatility, hinting at a possible stagnation phase.

A breakout above $70K could redefine Bitcoin’s market outlook.

A shift in Bitcoin supply dynamics signals a move toward speculation.

Bitcoin (BTC) has recently demonstrated a noteworthy consolidation, with its price oscillating between $69K and $64K over a week, marking a period of muted volatility. This change contrasts with its usual high volatility, hinting at a stagnation phase even though Bitcoin is traditionally seen as a high-growth asset.

Market observers and crypto enthusiasts have kept a close eye on Bitcoin’s movements, especially as the cryptocurrency hovers near key resistance levels. Insights from Captain Faibik, a notable figure in the crypto space, suggest that Bitcoin is on the cusp of a potential breakout, provided it can surpass the $70K resistance mark. 

$BTC is Bouncing back Nicely but still Consolidating within the Triangle. Bulls must Clear the 70k Resistance area to Confirm the upside Breakout.#Crypto #Bitcoin #BTC pic.twitter.com/NxAz8Y1ktq

— Captain Faibik (@CryptoFaibik) April 5, 2024

This perspective aligns with the broader anticipation of an increase in volatility, which could redefine the current market outlook. A recent Glassnode report sheds light on the underpinnings of this trend, adding a layer of depth to the analysis of Bitcoin’s market position. It highlights a key shift in the Bitcoin supply dynamic, as evidenced by on-chain data.

Notably, the report reveals the reactivation of dormant Bitcoin supply after a period of unparalleled tightness, offering key insights into the cryptocurrency’s market behavior. The gap between Long-Term Holder (LTH) supply and Short-Term Holder (STH) supply is narrowing, a phenomenon typically observed as prices ascend and unrealized gains entice LTHs to sell.

Bitcoin Supply Dynamic: Long/Short-Term Holder (Source: Glassnode)

Since December 2023, LTH supply has markedly decreased, dropping by 900,000 BTC from a peak of 14.91 million BTC. Notably, outflows from the GBTC trust account for approximately one-third of this reduction, equating to around 286,000 BTC. 

Meanwhile, STH supply has swelled by 1.121 million BTC, not only absorbing the distributed LTH supply but also adding an extra 121,000 BTC from secondary market acquisitions through exchanges.

This shift from long-term holding to more speculative behavior indicates a changing landscape within the Bitcoin ecosystem. The report’s analysis of the ratio between LTH and STH supplies further corroborates this transition, signaling a broader trend towards distribution, profit-taking, and speculation during macro up-trends.

The post Bitcoin Rally in Sight with Potential Break Above $70K Despite Volatility Dip appeared first on Coin Edition.