This prediction highlights the growing trend of tokens launching with high valuations and low initial circulating supply, a topic that has sparked considerable discussion within the cryptocurrency community. Recent data from Token Unlocks confirms an important trend in the cryptocurrency industry. Many tokens are entering the market with low circulation but high value. This market structure raises concerns about traders’ sustainable upside following the Token Generation Event (TGE). According to a report by Binance Research, up to $155 billion worth of tokens are expected to be unlocked between 2024 and 2030, which will create significant selling pressure unless buy-side demand…
Author: Crypto Flexs
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Prices for the injectable drug rose 10% to more than $27.26, while Phantom shot up 12% to $0.96. Altcoins benefited as the price of Bitcoin surpassed $68,000, hitting its highest level since April 12. Bitcoin (BTC) price rose more than 2% in afternoon trading on Monday as the bulls topped $68,000. This is the first time the flagship cryptocurrency asset has reached this level since April 12, when BTC fell from a high of $69,100. Injective and Phantom prices soar A number of altcoins reflected the gains as the benchmark cryptocurrency stared at $69,000. Ethereum surpassed $3,150, BNB hit $580,…
The Bitcoin Asia Conference, held in Hong Kong on May 9 and 10, 2024, marked an important milestone in the adoption of Bitcoin as a legitimate medium of exchange.This article outlines the strategies and technologies implemented to facilitate seamless Bitcoin transactions for goods and services over a two-day period leveraging self-custodial payment processing capabilities through BTCPay servers.summaryDuring the event, 212 Bitcoin transactions were processed with 4 vendors participating, for a total of 7,714,253 sats (equivalent to 36,974.63 HKD).The average trading volume was about 36,560 sat (about 175 HKD). In particular, the system maintained full operational uptime with no errors in…
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…
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 (…)