Bitcoin’s stability amid global economic challengesBitcoin (BTC) has shown potential signs of stability amid global economic uncertainty, according to a recent post from Bitfinex Alpha. The cryptocurrency hit its highest daily high since April 12 last week following a weaker-than-expected Consumer Price Index (CPI) inflation report. BTC rose 7.54% on the day and 8.7% for the week. This increase was further supported by exchange outflows amounting to 55,000 BTC, indicating supportive market sentiment and reinforcing the view that the Bitcoin price has reached a bottom.Bitcoin ETF Witnesses Net InflowsBitcoin exchange-traded funds (ETFs) also recorded net…
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Ethereum, the second largest cryptocurrency by market capitalization, is currently at a critical juncture with a potential breakout expected. Jelle, a prominent cryptocurrency analyst, recently pointed out that Ethereum is nearing the end of a descending wedge pattern, a situation often interpreted as a bullish signal in technical analysis. Related Reading Technical Indicators and Market Sentiment Jelle observed a falling wedge pattern on the Ethereum chart, as ETH recently recovered its 100-day exponential moving average (EMA), a development that further strengthens the bullish case. According to Jelle, if Ethereum can maintain this momentum and break above the upper bound of…
Posted 1 minute ago In ~ According to news reports, companies looking to list and trade shares of a spot Ethereum exchange-traded fund are being asked by the U.S. Securities and Exchange Commission to update and resubmit important documents if the product is approved.These filings, called Form 19b-4s, are filed to notify the SEC of proposed rule changes and are one of the documents that require the agency’s approval before spot ether ETFs can go into effect. The SEC’s Trading and Markets Division told asset managers Monday to amend their filings and resubmit the amendments. wall street journal The report…
This suggests that XRP’s social dominance has surged, reaching $0.70. Technical analysis suggests that the price will fall to $0.50 before rebounding. Ripple (XRP) has lost 9.45% in value over the past 90 days. However, discussions about the token reached their peak after April 4, AMBCrypto confirmed. At press time, Santiment showed that XRP’s social dominance was 1.947%. This indicates that the number of XRP posts is higher compared to other cryptocurrencies. One thing we observed was that social dominance seemed to be correlated with price. For example, during periods when indicators surge, token prices rise. One example is December…
Ethereum (ETH) is above $3,000. It is listed at $3,086.75, down 0.89% in the last 24 hours. The market expects prices to fluctuate several times before reaching a peak. The US SEC could issue a ruling on the Spot Ether ETF this week. However, this is just speculation, and the US SEC is likely to issue an actual ruling sometime later this year. One advancement the Ether ETF has made is that it now has a chance at being approved by the SEC. 19b-4. However, there is still a lack of engagement between agencies and applicants for ETF products, which…
Prometheum, a New York-based digital asset company, has launched the first SEC-compliant Ethereum (ETH) custody service, setting a new milestone for industry compliance. This service treats ETH as a security under U.S. Securities and Exchange Commission (SEC) regulations. Prometheum pioneers regulated Ethereum storage service Prometheum, known for its controversial stance on digital assets, has launched an ETH custody service with a select group of companies. The full launch is scheduled for the first week of June. Co-CEO Aaron Kaplan emphasized that this is the first time that investment contracts involving digital assets are managed and processed under securities laws. “This…
India’s Finance Minister Nirmala Sitharaman has advocated for a global consensus on cryptocurrency regulation, emphasizing the need for international cooperation, especially within the G20. She noted that while Indian regulators have different opinions on how to handle cryptocurrencies, there is no major confusion at the moment. Indian Finance Minister Cryptocurrency Regulation Indian Finance Minister Nirmala Sitharaman (…)
Binance Announces Spot Trading Tournament Binance, a leading cryptocurrency exchange, announced the launch of a new spot trading tournament. As announced on the official website, the tournament is open to all users who can share in the prize pool of 300,000 USDC in token vouchers. Tournament Details The tournament promotion period runs from 12:00 UTC on May 20, 2024 to 23:59 UTC on June 2, 2024. To qualify, users must confirm their participation on the tournament page and achieve at least $1,000 equivalent in each eligible spot trading pair during the promotion period. Eligible participants…
What defines an independent contractor, and how does it affect your work and finances in today’s digital economy? From legal classifications to tax responsibilities and the intriguing new trend of getting paid in cryptocurrency, this article offers a no-nonsense guide to being or employing independent contractors. Get ready to gain valuable insights into the independent contractor landscape, including practical tips to navigate these professional waters seamlessly. Key Takeaways The IRS and FLSA categorize independent contractors based on the degree of control exerted on the worker, focusing on the behavioral and economic aspects of…
According to CoinShares’ weekly report, inflows into digital asset investment products hit $932 million, up 616% from last week’s week. This is the second consecutive week of inflows this month and a return to the impressive numbers recorded earlier this year. James Butterfill, head of research at CoinShares, explained that the significant inflows were “an immediate reaction to the lower-than-expected Consumer Price Index (CPI) report.” He added: “The last three trading days of the week accounted for 89% of total flows, highlighting our view that Bitcoin price has re-engaged with interest rate expectations.” However, despite significant flows, trading volumes remained…