Ethereum is solid and on the rise, surpassing Bitcoin as the world’s most valuable coin. Earlier today, the price of Ethereum topped $3,900 before falling sharply below $3,800 before rebounding back to spot prices. To explain the unexpectedly high volatility, especially as the price fell sharply from $3,900 and fell below $3,800, some analysts suggested that large sell orders from maximum extractable value (MEV) trading firm Symbolic Capital Partners could be to blame. I insist. Ethereum is highly volatile above $3,800: a possible explanation In a post about said Symbolic Capital Partners offloaded 6,968 ETH worth over $27 million, with…
Author: Crypto Flexs
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Chainlink Labs invests in tokenization. Chainlink Labs, a leading blockchain technology company, recently announced new tokenization plans. Colin Cunningham, Head of Tokenization and Partnerships at Chainlink Labs, is leading this new venture. According to the Chainlink blog, this plan is set to open up numerous opportunities in global financial markets. Revolutionizing the global financial market Tokenization is a fast-growing trend in finance that involves digitally representing real-world assets on a blockchain. This process improves transparency, efficiency, and security of financial transactions. Chainlink Labs aims to revolutionize global financial markets by leveraging this cutting-edge technology. Chainlink’s…
A top cryptocurrency trader believes that Ethereum (ETH)-based decentralized finance (DeFi) tokens are the “obvious play” amid recent ETH developments. An anonymous analyst known as Flow Horse tells his 216,500 followers on social media platform X that Ethena’s (ENA) governance token looks promising. “We are expecting a second round of downward revisions and a possible turnaround.” Source: TheFlowHorse/X The Ethena Labs project includes a revenue-generating “synthetic dollar” token, USDe. The project aims to create a stable and scalable form of money in the cryptocurrency space without relying on traditional banking systems. ENA is trading at $0.848 at the time of…
Ethereum price rebounded to $3,940 and then plummeted. ETH is currently consolidating near $3,850 and we expect further upside in the near term. Ethereum began consolidating after rebounding towards the $3,940 resistance zone. The price is trading above $3,720 and the 100-hour simple moving average. The hourly chart of ETH/USD (data feed via Kraken) shows a major bullish trendline forming with support at $3,720. Unless a break occurs below the $3,620 support, the pair may continue to rise. Ethereum price gains more. Ethereum price rose above the $3,700 and $3,750 resistance levels. ETH has outperformed Bitcoin and even surpassed the…
Semiconductor giant Nvidia has further strengthened its commitment to the future of artificial intelligence (AI) after posting surprising quarterly results. With a market capitalization of an unprecedented $2.5 trillion, Nvidia has demonstrated the lucrative potential of AI technology in driving corporate success.Record Financial PerformanceNvidia’s first-quarter earnings report, released on May 22, showed an 18% increase in revenue over the previous quarter and a 262% surge year-over-year, well above analyst forecasts of $24.6 billion. This impressive growth pushed Nvidia’s stock to an all-time high in after-hours trading, trading at just over $1,000 per share and pushing its market capitalization to more…
Funding • May 24, 2024 2:13 AM EDT Posted 1 minute ago In ~ Hong Kong’s three spot Bitcoin exchange-traded funds recorded net outflows of 25.63 BTC on Thursday, while the region’s spot Ether ETF reported zero flows.The outflow of spot Bitcoin ETFs was caused solely by products managed by China Asset Management, which reportedly saw an outflow of 25.63 BTC from the fund. data In small value. As of Thursday, the combined net assets of the three spot Bitcoin ETFs stood at $254.74 million.The city’s three spot ether ETFs had zero flows on Thursday after bringing in 62.8 ETH…
The International Monetary Fund (IMF) says Zimbabwe’s recent introduction of a gold-backed fiat currency represents an important policy step. This is the first substantive comment on the currency by the IMF since its creation. The global lender has reportedly announced plans to send a team in June to assess the performance of the new currency. Contrasting IMF (…)
The Fantom Foundation, the organization behind the Fantom decentralized network, recently announced the creation of a new foundation to facilitate the launch of the upcoming new Sonic chain.On May 23, Phantom Foundation CEO Michael Kong announced the new foundation on the Blockchain Network blog. Kong wrote:“Our team is constantly working to explore how Sonic Chain can impact and enhance a variety of DeFi and real-world use cases. Industries and applications such as real-world assets, persistent DEX, payments, trading, and high-volume gaming can be transformed by Sonic’s speed and high throughput.”Fantom’s Sonic Foundation will be responsible for overseeing Sonic’s governance, managing…
As Bitcoin and Ethereum prices soared to all-time highs, short-term traders were hit hard by liquidations. In the last day alone, more than $330 million was liquidated from the cryptocurrency market, most of which came from short-term traders who expected prices to fall once again. Over 78,000 traders were liquidated for $330 million. The last 24 hours have been brutal for cryptocurrency traders, according to Coinglass data. In this short period of time, over 78,000 cryptocurrency traders suffered hundreds of millions of dollars in losses as their positions were liquidated. Related Reading Total liquidation amounted to $330 million. Of this…
SoftServe and Continental Boost Automotive DigitalizationSoftServe, a renowned IT consulting and digital services provider, has collaborated with Continental, a leading German automotive technology company, to develop an innovative solution called Industrial Co-Pilot. Powered by generative AI, this virtual agent aims to optimize engineers’ maintenance workflows. As reported on the NVIDIA blog, these developments come in response to the industry’s growing need for a seamless, connected driving experience.OpenUSD powers virtual factory solutionsSoftServe supports manufacturers like Continental by integrating the Universal Scene Description (OpenUSD) framework into virtual factory solutions like Industrial Co-Pilot. These solutions are developed on…