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…
Author: Crypto Flexs
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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…
The cryptocurrency market is on the edge of an interesting phase. As the bull market unfolds in 2024, investors are eagerly looking for the next big-cap stock. In this article, we take a closer look at cryptocurrencies that are expected to see significant growth. We identify promising candidates that stand out in the busy cryptocurrency space, tailored for those looking to expand their portfolios to match the current upward trend. BlastUP went viral and raised $4 million in a matter of weeks. BlastUP, Blast’s premier launchpad, recently made waves in the cryptocurrency world with its surprising debut, raising $4 million…
When liberal politician Javier Millais was elected president of Argentina late last year, many in the world of traditional finance and digital assets feared that a leader who appeared to support Bitcoin would help increase cryptocurrency use in South America’s second-largest economy. I guessed it would be. However, after the recent unveiling of new regulations requiring both companies and individuals who handle or trade digital assets to register with the government, many are wondering whether Argentina is now moving away from digital assets. A new era of reduced regulation and increased use of cryptocurrency.Critics of the new regulations see them…
Context of the article The world economy is emerging from saturation, and major world indices are booming. Although inflation has eased in most countries, policymakers warn that meeting the central bank’s target of around 2% will be quite difficult. World Bank Group Senior Vice President and Chief Economist Indermit S. Gill predicts that developed and developing countries will grow more slowly in 2024 and 2025 than in the decade before COVID-19. So the relevant question is: Cryptocurrency boom in 2024? Is this a sign of recovery or is a bubble forming? Let’s explore The cryptocurrency fear and greed index has…
April 8 Series: Halving Season “Discovery” – Part 5: Bitcoin and Fee Structure Innovation Post time: 13:47h education Posted by Tammy “Satoshi Nakamoto, the father of Bitcoin, designed this network with an issuance limit of 21 million coins. Rewards for processing transactions (minting new bitcoins) are cut in half every four years. Once this supply is exhausted, the system may rely on transaction fees. “Bitcoin uses an open market mechanism to determine fees, so there will always be people willing to process transactions for free.” How will Bitcoin’s wave of innovation impact the network? Bitcoin is going through a period…
Synthetic dollar developer Ethena Labs has received approval for the USDeFRAX liquidity pool with Frax Finance to diversify the yield of the FRAX stablecoin. Ethena Labs’ Singularity roadmap proposal is as follows: Approved And using the protocol, we were able to create a USDeFRAX POL with a cap of $250 million on the defi stablecoin exchange curve. Ethena looks up to the FRAX team as one of the best builders in all of DeFi and is excited to work together over the coming months to grow the Onkahin Dollar economy.— Athena Labs (@ethena_labs) April 8, 2024 Going forward, USDe’s issuer…