Cryptocurrency-related companies started the week on a positive note after Bitcoin surpassed $72,000 for the first time since mid-March. Shares of Nasdaq-listed Coinbase and MicroStrategy rose 8% and 12%, respectively, in early morning trading in New York. Over the past 24 hours, as of 10 a.m. ET, Coinbase shares were up more than $260, while MicroStrategy shares were up more than $1,600, according to TradingView data.Coinbase Target Price IncreasedLast week, New York-based financial firm Oppenheimer raised its stock price target for Coinbase to $276 from its previous target of $200 while maintaining a buy rating. The price target, which Oppenheimer…
Author: Crypto Flexs
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The cryptocurrency market saw a notable rally this week with the NEAR token. noticeable At an impressive price.NEAR represents an incredible upward trend, but investors and market watchers should exercise caution as cryptocurrency investments are subject to large price fluctuations.All About The Massive Price Rise Of The NEAR Protocol NEAR is riding a wave of excitement. According to technical indicators, the cryptocurrency is currently in a bullish trend.In the past 30 days, the token’s value has surged 60%, from $4.35 to $6.97. During that period, the cryptocurrency’s market capitalization increased from $4.5 billion to $7.56 billion.With a price surge of…
Most people who understand Bitcoin know that there are two types of Bitcoin. One is Bitcoin, which is a highly volatile asset with a fixed supply, and the second kind of Bitcoin is a network and protocol that maintains an immutable ledger that has never been hacked and is bulletproof, bombproof, and tankproof. My opinion is that there is too much focus on assets and not nearly enough on networks, protocols and immutable ledgers. While listening to Peter McCormack’s recent podcast with Dhruv Bansal, they discussed networks and protocols in a new way. I really liked Dhruv’s framing of how…
Trading expert Peter Brandt recently I left a comment. The Ethereum vs Bitcoin chart provides interesting insights into market developments. Brandt’s comments come after previous criticism of Ethereum, disparaging it as a “junk coin” and its supporters as “Etheridiots.” However, with Ethereum recently falling to its lowest ranking against Bitcoin in nearly three years, Brandt’s stance appears to have changed. Ethereum Plunges Against Bitcoin: Bear Trap? Analyzing the Ethereum-BTC chart, Brandt suggested the existence of a “bear trap,” indicating that a continued decline in the value of Ethereum relative to Bitcoin could encourage sellers to take additional short positions. However,…
DigiFT, the groundbreaking on-chain real world asset (RWA) exchange approved by the Monetary Authority of Singapore (MAS), has announced the launch of its latest generation product, the DR2 RWA token. Digital Assets Financial Trust Company (DAFTR) has launched a new game-changing token for investors looking to capitalize on cryptocurrency opportunities: the DigiFT USD Money Market Fund Token (DMMF). The emergence of DMMF coins comes along with the tremendous growth of these types of cryptocurrency products. This highlights the shift in investment strategies towards innovative technologies in the digital asset market. DigiFT’s move is driven by its desire to replicate the…
The world of memecoins continues to be a roller coaster ride, and Pepe (PEPE) is no exception. Recent on-chain data shows a surge in tokens moving out of exchanges, potentially creating optimism among investors. However, conflicting indicators are casting doubt on the sustainability of this upward trend. Pepe has surged on the exchange, suggesting investor confidence. An important development for PEPE is that a large number of tokens will move across exchanges. According to blockchain analysis platform Santiment, as of April 7, PEPE supply outside exchanges reached $243 trillion. The sharp rise compared to March 12 indicates that selling pressure…
The options market appears to be growing stronger with the largest Ether options open interest by expiration date, namely the contract expiring at the end of April. About $3.3 billion worth of notional Ether options are set to expire, with about two-thirds of that amount being used for calls or price bullish bets, according to Deribit data. “Call strikes are concentrated between $3,700 and $4,000, which shows an upward bias in the market and underlying bullish sentiment,” Wintermute OTC trader Jake Ostrovskis told The Block.Wintermute analysts added that the current open interest distortion shows call options trading at a premium…
Digital asset manager CoinShares said last week that institutional investment in cryptocurrency products had helped drive inflows to record highs. CoinShares said in its latest Digital Asset Fund Flows report that digital asset investment products brought in inflows of $646 million last week. “Digital asset investment products continued their positive momentum last week with inflows totaling $646 million. Annual inflows are at an all-time high of US$13.8 billion and now far exceed the US$10.6 billion received in 2021.” Source: CoinShares However, according to CoinShares, weekly trading volume is still down from March when the Bitcoin (BTC) exchange-traded fund (ETF) hype…
Ark Invest CEO Cathie Wood sees Bitcoin as a hedge against currency devaluation and wealth erosion. “I think this is an insurance policy against a rogue regime or terrible fiscal and monetary policies,” she said, attributing the recent surge in Bitcoin prices to a “flight to safety.” ‘I think this is a flight for safety’ (…)
Polygon Labs CEO Marc Boiron believes that fierce competition between Ethereum layer 2 networks is the “biggest problem” facing the second-largest digital asset by market capitalization. In an April 7 post on social media platform that explained: “The biggest problem with Ethereum is that it continues to cannibalize itself through all the L2s competing for developers, users, and liquidity, rather than competing outside of the Ethereum ecosystem. Microeconomics 101 will tell you this is a bad strategy. “There is no answer, but it must be resolved,” he said. Several cryptocurrency community members share Boiron’s view and argue that layer 2…