Author: Crypto Flexs

VanEck subsidiary MarketVector We launched an index based on the performance of the top six meme coins.. MarketVector’s Meme Coin index, traded under the symbol MEMECOIN, is rising 195% year over year. For comparison, CD20 is up 97% over the same period. MEMECOIN tracks Dogwifhat, Shiba Inu, Pepe, dogwifhat, Floki Inu, and BONK, which account for nearly $47 billion of the total meme coin market capitalization of $51 billion, according to CoinGecko. While they don’t shy away from the lighter side of the cryptocurrency market, some commentators believe meme coins could continue to show impressive returns as Solana’s low fees…

CEO Vladimir Tenev spoke about Robinhood’s solid financial performance during the company’s first-quarter earnings call. But the company’s success has been overshadowed by a recent notice Wells received from the Securities and Exchange Commission (SEC). The outstanding results announced by Robinhood, including a significant increase in cryptocurrency trading volume, were achieved despite regulatory hurdles. Robinhood’s First Quarter Profits: Robinhood reported significant profit results for the first quarter, with cryptocurrency-related services accounting for approximately 40% of the company’s $329 million in trading-based revenue. During the most recent quarter, the company reported net income of $157 million,…

Ethereum price extended losses and tested the $2,940 support. ETH could start a fresh increase if it clears the $3,000 and $3,030 resistance levels. Ethereum continued its downward trend, trading below the $3,000 level. The price is trading below $3,050 and the 100-hour simple moving average. On the hourly chart of ETH/USD (data feed via Kraken), a breakout occurred above a major bearish trendline with resistance at $2,980. The pair would need to hold above the $2,940 support to initiate another rally towards $3,220. Ethereum price falls below $3,000 Ethereum price remained in bearish territory and, like Bitcoin, losses extended…

CEL, the native token of the now-defunct Celsius Network (CEL), has recorded an impressive price surge following a massive token burn. According to on-chain data, Chelsea burned more than 94% of its total supply on April 30, plummeting from 695.65 million CEL to 40.55 million CEL. Tokens were sent to a null address, making it the third largest transaction in Celsius history. CEL Price, RSI, Open Interest and Funding Rate – May 9 | Source: Santiment Since the burn trade, CEL has risen 360% over the past week. The asset is up 67% in the last 24 hours and is…

Memecoins, inspired by current and former US presidents Donald Trump and Joe Biden, have soared over the past 24 hours.Trump-inspired memecoin MAGA (ticker: TRUMP) is up more than 44% during this period, according to CoinGecko data. Meanwhile, GeoBoden (ticker: BODEN), which misspelled incumbent President Joe Biden, rose by more than 22%.According to Wintermute analysts, “rapid fund flows have been observed within the memecoin sector, leading to sector outperformance over the past seven days.”The Block’s GMCI Meme Index, comprised of leading meme coins by market capitalization, is up nearly 9% over the past week. Memecoins linked to US presidential candidates have…

The Securities and Exchange Commission targeted Robinhood on May 4, 2024. Crypto whale cashes out 164M DOGE as Robinhood’s series of outflows increase. Dogecoin fell below the important support level of $0.15 despite increased trading volume. Robinhood, a leading U.S. cryptocurrency exchange, recently received a Wells Notice from the Securities and Exchange Commission (SEC). The SEC’s action on May 4 sparked complaints. That’s because the notice included an advisory to the Commission to file enforcement action against Robinhood for allegedly violating several securities laws.164 Million DOGE Exited From Problematic ExchangeMeanwhile, large cryptocurrency investors took this as a warning sign and…

Genesis Digital Assets, a leading digital miner, has partnered with Argentine utility YPF Luz to source power from a flare gas facility to operate a Bitcoin mining site in Argentina. The data center facility at the Bajo del Toro thermoelectric power plant will host 1,200 Bitcoin miners. Genesis Digital Asset, Flare Gas Operation (…)

The MarketVector Meme Coin Index (MEMECOIN) has surged more than 137% since the start of 2024 as top meme coins continue to rise.MarketVector’s memecoin index has outperformed the S&P 500 index by more than 15 times this year. In contrast, the S&P is up 9.3% year-to-date (YTD), according to TradingView data.The Memecoin index is trading at $76.60 as of 8:52 a.m. UTC, up 137% year-to-date and up more than 186% over the past year.MEMECOIN, as of the beginning of the year. source: market vectorMarketVector, a subsidiary of American asset management giant VanEck, launched the Memecoin index on October 31, 2021.…

Ethereum, the world’s second-largest cryptocurrency by market capitalization, is in an interesting position. While the price is struggling to find direction, activity on the underlying network is surging. Ethereum network sees new user growth According to cryptocurrency data firm Santiment, a whopping 200,000 new Ethereum addresses were created on May 4, marking the highest daily increase in nearly two years. This surge signals renewed interest in the Ethereum ecosystem, which will potentially be driven by factors such as the burgeoning decentralized finance (DeFi) space and the ever-evolving world of non-fungible tokens (NFTs). 📈 #Ethereum It rebounded above $3,200 this weekend…

Bitcoin price extended losses and traded below the $62,500 area. BTC is showing bearish signs and could turn bearish if it falls below $60,000. Bitcoin followed a bearish path and traded below $62,500. The price is trading below $63,000 and the 100-hour simple moving average. The hourly chart of the BTC/USD pair (data feed from Kraken) has a bearish trend line attached, forming at resistance $62,000. The pair may extend losses and revisit the $60,000 support zone in the near term. Bitcoin price decline continues Bitcoin price struggled to stay above $63,500 and losses widened. It moved below the $63,000…