Amid strong buying pressure, the price of Ethereum soared 20%, surpassing Mastercard in market capitalization. The SEC’s move to approve the ETH ETF sparked a market rally. So far, Ethereum (ETH) has experienced an incredible surge, rising nearly 20% in the past day alone. This impressive increase pushed the price of Ethereum past $3,600, its highest level since April 19th. Asset size is also trending upward, indicating strong buying pressure in the market. These developments come as Ethereum’s influence and adoption grows and highlights its position as the second-largest cryptocurrency by market capitalization. Leon Waidmaqnn, a renowned on-chain analyst, said:…
Author: Crypto Flexs
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With meme coins joining the cryptocurrency party, analysts have chosen Floki Inu over Pepe and Bonk. A surge in Bitcoin and Ethereum could help FLOKI price rise. As the price approaches, the technical picture is also bullish for the meme coin. Pepe (PEPE) and Bonk (BONK) are up 33% and 24% respectively as the memecoin world bids to join the cryptocurrency party after Ethereum ETF news sparked a buying frenzy. However, while PEPE and BONK are currently outperforming among the top meme coins by market capitalization, one analyst shared some reasons to be bullish on Floki Inu (FLOKI). “Both $PEPE…
The web3 social media platform Farcaster team has raised $150 million in funding led by Paradigm. A16z crypto, Haun Ventures, USV, Variant, Standard Crypto, etc. participated in this round. Farcaster co-founder Dan Romero wrote in Tuesday’s announcement that the increase will “support our work at Farcaster for years to come.” Over the remainder of 2024, the company plans to double the number of daily active users and add developer fundamentals such as channels and direct messaging to the protocol. Farcaster is also hiring staff-level engineers. “Since going permissionless last October, Farcaster’s paid subscriptions have reached 350,000 and network activity has…
HyperCycle was founded in October 2022 following discussions between CEO Toufi Saliba and SingularityNet founder Ben Goertzel at the 2021 Global AGI Summit. The company is designed to focus on developing general-purpose technologies that support decentralized networks for AI-to-AI communication. Scale to meet global demand for AI consumption. We utilize the following technologies (…)
The case of Gemini’s savings program customer funds, which had been frozen for a year and a half, is finally moving toward resolution. On May 17, Judge Sean H. Lane approved Genesis’ Chapter 11 bankruptcy plan. The decision allows the company to return customer funds frozen on its platform from November 2022. The platform is expected to return approximately $3 billion to creditors in cash and cryptocurrency assets. Gemini plans to begin refunding Earn members refunds by the end of May, according to court documents. The decision to pay was made by a judge who dismissed a lawsuit filed by…
Ethereum price It is up almost 20% in the last 24 hours. This is a positive development for the second-largest cryptocurrency token, which has been lagging so far. Ethereum’s price surge is believed to be due to several factors, including potential approval. Spot Ethereum ETF. The SEC may soon approve a spot Ethereum ETF. Ethereum rose on the following news: Securities and Exchange Commission (SEC) Your Spot Ethereum ETF application may be approved. Previously, it was almost certain that the Commission would reject such applications. However, the SEC can now approve these funds based on: by Bloomberg analyst Eric Balchunas.…
Cronos zkEVM testnet upgrade to Tethys According to a recent newsletter, the Cronos (CRO) zkEVM testnet has successfully upgraded to its latest major release, ‘Tethys’. This marks an important milestone ahead of the Cronos zkEVM mainnet launch, scheduled for late summer 2024. What is Khronos zkEVM? Cronos zkEVM, Ethereum’s zero-knowledge (ZK) layer 2 blockchain network, marks an important milestone for Cronos. scalability and mainstream adoption. The network, a hyperchain using the ZK Stack, was launched through partnerships with Cronos Labs, Matter Labs, the zkSync team, Crypto.com, VVS Finance, Fulcrom Finance, and Veno Finance. New developments…
Despite having hundreds of thousands of social media followers, pseudonym cryptocurrency trader Daan Crypto Trades isn’t keen on doxxing himself for glory. He focuses solely on posting articles analyzing cryptocurrency charts. “I’m not really interested in people knowing exactly who I am,” Daan Crypto Trades told Hall of Flame. The secretive cryptocurrency influencer reveals that he lives somewhere in the Netherlands. What is your real name or age? It will remain a mystery. “I’m not sure if it’s wise for me to say this.” He laughed during an hour-long online call with his camera off. After some prodding, Daan revealed…
XRP price avoided a major downturn due to the surge in ETH. The price has recovered above $0.5220 and is eyeing a significant upside reversal in the near term. XRP started a significant rise above the $0.5150 resistance zone. The price is currently trading above $0.5250 and the 100-hour simple moving average. On the hourly chart of the XRP/USD pair (data source from Kraken), a breakout occurred above the main bearish trendline with resistance at $0.520. The pair may correct gains but the bulls may remain active near the $0.5180 area. XRP price recovery After falling to the $0.5065 support…
Solana (SOL) price is observing institutional support to observe a significant rise this month. With retail investors joining in, questions remain as to whether SOL can return to $200 before June. Solana is regaining favor with institutions The actions of institutional investors will always influence Solana’s price throughout 2022 and 2023. The same strength is emerging again, with SOL citing inflows of $11.1 million this month. This surge makes Solana the second-best performing altcoin in institutional portfolios, behind Chainlink, matching Litecoin’s year-to-date performance. During the week ending May 17, SOL recorded inflows worth around $5 million as the CPI report…