Cryptocurrency markets took an unexpected hit on April 12 with a spontaneous drop in the price of Bitcoin and major liquidations in major altcoins. Among numerous plausible reasons, including the recent price correction in the U.S. stock market, the cause of this widespread price decline is largely unknown. A cryptocurrency flash crash liquidated nearly $500 million in one hour. Bitcoin fell 4.49% on the last day, falling to $66,052, according to data from CoinMarketCap. As expected, BTC’s decline reverberated throughout the market, with major altcoins Ethereum and Solana recording daily losses of 8.12% and 12.16%, respectively. As previously mentioned, these…
Author: Crypto Flexs
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The Ethereum (ETH) community has been eagerly awaiting news of the spot approval of the Ethereum Exchange-Traded Fund (ETF), which is scheduled to occur by May. However, speculation about a possible approval is growing as the U.S. Securities and Exchange Commission (SEC) has remained conspicuously silent on the matter. This speculation is fueled by the lack of concrete details about the approval process, which has investors and enthusiasts worried and excited. Bitcoin Maxi weighs in on approval of Ethereum spot ETF In the Ethereum ETF debate, notable voices from the cryptocurrency space have offered their perspectives. Max Keizer, a famous…
One analyst said the Bitcoin halving will not be reflected in prices and that the event will see “substantial changes” in the digital asset’s supply and demand mechanisms.Matt Ballensweig, Head of BitGo at Go Network, added new insight to the numerous speculations about whether the halving has already been priced in. “Digital asset investors and traders are constantly asking the question, ‘Is the halving priced?’ and with each cycle it tends to be that it is not. Likewise, many investors assumed that spot Bitcoin ETF approvals were also priced in, but ETF trading Bitcoin price rose significantly in the first…
join us telegram A channel to stay up to date on breaking news coverage With the SEC’s approval of the Spot Bitcoin ETF, investors can now see Bitcoin’s daily movements directly. This eliminates the complexity of indirect exposure seen in previous funds. But the fate of these innovative funds may depend on their ability to attract sufficient shareholder capital. Meanwhile, Hong Kong, a landmark decision is coming that will attract huge investment from mainland Chinese investors. This move could bring them into the thrilling realm of Bitcoin through the Southbound Stock Connect program. As expectations grow, mainland funds are eyeing…
Two low-cap memecoins have overtaken Dogecoin (DOGE) in terms of weekly active traders, according to cryptocurrency analytics firm IntoTheBlock. Degen (DEGEN) currently leads all meme assets with 129,000 active traders, followed by The Doge NFT (DOG) with 126,000. explain Into the Block, “The number of addresses that hold assets for less than a month are classified as traders. A sharp increase in traders usually coincides with bullish momentum. DOGE has dominated almost every indicator in the memecoin market for a long time, but it appears to be losing some of its dominance.” Source: IntoTheBlock/X DEGEN was launched as an Ethereum…
Of the 11 financial institutions that issued spot Bitcoin ETFs in January 2024, only two, Bitwise and VanEck, have pledged to donate a portion of their profits to open source Bitcoin development.Regardless of whether large holders are harassing ETF sponsors to fund core developments, the real question is: @BitwiseInvest and @vaneck_us like that? Bitcoin is an ongoing project and its core developers continue to be underfunded.- Nick "rich" Carter (@nic__carter) April 10, 2024 Considering the logic behind Bitwise and VanEck’s decision to donate to developers who maintain and update the Bitcoin protocol, it is difficult to imagine why more spot…
Globally, the regulatory environment for the financial technology sector is becoming increasingly stringent. This has led to the development, particularly in Europe, of complex legal structures that govern the operations of entities such as Crypto Asset Service Providers (CASPs), cryptocurrency exchanges, investment firms, forex brokers, banks and other financial institutions. Europe’s Evolving Cryptocurrency Regulatory Landscape The regulatory environment for cryptocurrency assets in Europe has undergone significant changes with the introduction of new frameworks to strengthen consumer protection, financial stability, and innovation. One of the key developments has been the Regulated Marketplace for Cryptocurrency Assets (MiCA), which aims to create a…
Ethereum developers are currently mulling a Pectra upgrade that is poised to improve various aspects of the blockchain’s functionality.Tim Beiko, Director of Protocol Support at the Ethereum Foundation, said: Confirmed It shows that developers have agreed to include Ethereum Improvement Proposals (EIP) 3074 in the network’s planned overhaul.EIP 3074EIP 3074 is a pivotal development within the Ethereum ecosystem and was introduced by Lightclients in 2020. The proposal has garnered widespread support from the cryptocurrency community as it aims to improve the user experience (UX) of Ethereum wallets.Basically, EIP 3074 allows existing cryptocurrency wallets like MetaMask to behave similarly to smart…
Posted 1 minute ago In ~ Updated: April 12, 2024, 10:42 AM EDT Hong Kong regulators could approve spot ETFs based on Bitcoin and Ethereum as early as Monday, Bloomberg News reported, citing sources familiar with the matter. As part of this approval, a subsidiary of Chinese asset manager Harvest Fund Management Company is expected to receive approval to operate as a Bitcoin and Ethereum fund issuer. Additionally, a partnership between Bosera Asset Management (International) Co. and HashKey Capital is also expected. We are authorized to offer both types of spot ETFs. As The Block reported earlier Friday, HashKey CEO…
One analyst explained how PEPE’s daily close outside a certain price range could lead to a 54% rally in its value. PEPE symmetrical triangle could hint at Memecoin’s next move. new post At X, analyst Ali discussed recent trends in PEPE prices. According to analysts, Memecoin is currently forming a symmetrical triangle pattern on the 1-day chart. Here, “symmetrical triangle” refers to a pattern in technical analysis (TA) that, as the name suggests, looks like a triangle. This pattern has two lines of interest along which asset prices consolidate over a period of time. The upper line connects the successive…