Markets

Top Crypto News and Trends

Published

9 months ago

10 May, 2024

FinCrypt Staff

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2nd week of May 2024: Top Crypto News and Trends

The cryptocurrency market had a busy second week of May 2024, with big changes happening everywhere. These include market tensions arising from major token unlocks, regulatory progress, and the rise in popularity of meme coins.

These events show how the crypto world is always changing and how new ideas and rules are always interacting with each other.

Crypto Markets Under Pressure with $2 Billion Altcoin Token Unlocks and $11 Billion Bitcoin Distribution

Traders monitor altcoin unlocks and Bitcoin distribution risks With the release of US$2 billion in altcoin tokens and the distribution of US$11 billion in Bitcoin, crypto markets are under a lot of pressure. Too many new tokens could cause people to sell their old ones, which would make the market more volatile.

Investors pay attention to these events because they think they could have an effect on the way markets work and the value of assets. These events happening at the same time show how unstable the crypto markets are and how difficult it is to handle large-scale token launches and unlocks.

Bitcoin rally has crypto options traders anticipating $100K

Optimistic traders monitor Bitcoin’s rise towards $100K Crypto Options Traders are feeling more optimistic after Bitcoin’s recent rise. Many now expect a jump to $100,000. Since Bitcoin has performed well and the cryptocurrency market as a whole is recovering, people are feeling optimistic.

Traders are preparing to take advantage of potential gains, which shows they have more faith in Bitcoin’s long-term value. The renewed optimism comes after a period of consolidation. It is supported by positive market indicators that point to a bright future for Bitcoin.

Revolut’s Crypto Exchange Goes Live for Experienced Traders

Revolut's Crypto Exchange Platform for Experienced Traders With a wide range of digital assets and advanced trading tools, of the revolution The new cryptocurrency exchange is perfect for experienced traders. This new tool aims to meet the needs of sophisticated investors who want better trading options and more liquidity.

By entering the cryptocurrency exchange market, Revolut shows that it wants to offer more financial services and meet the growing demand for the sale of digital assets. With Revolut’s well-known fintech presence and innovation name, the launch is likely to attract many users.

Marathon Digital Misses Q1 Revenue Expectations Due to Operational Challenges

Marathon Digital executives analyze first quarter revenue drop charts Digital Marathon said its revenue in the first quarter of 2024 was lower than expected. They said operational problems were to blame. The Bitcoin mining company had problems with its mining equipment and the cost of electricity, which hampered its overall production and its ability to make money.

Even with these setbacks, Marathon Digital is still optimistic about its future growth. Its focus is on fixing operational issues and increasing the amount of mining it can perform. Since the company is so well-known in the crypto mining business, investors are keeping an eye on its performance.

Robinhood Offers Huge Profits Driven by Crypto Trading Growth

Robinhood has far exceeded its earnings expectations, in part due to the increase in crypto trading activity. Retail investors are increasingly interested in cryptocurrencies, as demonstrated by the higher-than-expected yield and user engagement of the trading platform.

Robinhood’s strong performance shows that digital assets are becoming more and more like regular currencies on popular trading platforms, and interest in cryptocurrency trading is growing. As a key player in the changing financial environment, the company continues to add more crypto-related services.

Demand for meme coins is stronger than ever, with fast money chasing Pepe and WIF

Tokens like Pepê It is WIF are becoming very popular among people who want to make money quickly. Traders looking for quick gains are attracted to meme coins because they are a form of speculation. Although meme coins are volatile, they are still becoming more famous.

This shows how changeable and unpredictable the crypto market is. Analysts think the rise in demand for meme coins is a sign of larger changes in speculative trading and how social media affects the way investors act. This rise shows that people in the crypto world are still interested in meme-based digital assets.

Binance and KuCoin gain registration with India’s financial intelligence unit

Binance and KuCoin successfully registered on Indian Financial Intelligence Unit (FIU). This is a big step forward in your efforts to comply with regulations. This registration is very important because it allows these exchanges to operate officially in the Indian market, where strict rules against money laundering (AML) and terrorist financing (CTF) apply.

The fine for Binance has not yet been decided, but KuCoin has already paid US$41,000. This event shows that regulators are paying more attention to crypto platforms and how important it is for them to follow the rules in different countries.

VanEck’s MarketVector Starts Index to Track Biggest Meme Coins

market vector VanEck started tracking the biggest meme coins. This shows that these digital assets are becoming more popular and important in the crypto market. The purpose of the index is to provide investors interested in meme coins with a standard by providing them with a structured way to measure the performance of famous tokens.

VanEck’s action shows that meme coins are now accepted by most people and offers institutional and individual investors a way to better manage the meme coin market. The index contains well-known meme coins, showing how their markets change and what the latest trends are.

NYSE American Stock Listing of Crypto Wallet Provider Exodus Postponed for SEC Review

Famous Cryptocurrency Wallet Provider Exodus has postponed the listing on the New York Stock Exchange (NYSE) because the US Securities and Exchange Commission (SEC) is still investigating the matter.

The delay was caused by the SEC’s need for more information, which shows the legal problems crypto companies face when trying to go public. Regulators are paying more attention to cryptocurrency-related offerings, making it harder for companies to access standard financial markets. To address the SEC’s concerns and move forward with its listing plans, Exodus is still committed.

Kraken asks court to dismiss SEC claims

Kraken wants the court to reject the SEC’s claims, saying the regulator’s measures could seriously disrupt the US financial system. In its legal position, Kraken emphasizes the importance of clear rules for regulators and questions how the SEC regulates cryptocurrency platforms.

This is a very important case because it could set a standard for how crypto companies should work under US law. Kraken’s move shows how the crypto industry and government bodies are still on edge as they try to strike a balance between new ideas and following the rules.

Key Takeaways

Important changes in the market: The crypto market is under a lot of pressure because $2 billion worth of altcoin tokens have been released and $11 billion worth of Bitcoin has been distributed. This could make the market more volatile.
Bitcoin Hope: Crypto options traders are optimistic and think Bitcoin prices will reach $100,000 after its recent surge.
Regulatory Progress: Both Binance and KuCoin have been registered with India’s Financial Intelligence Unit, which complies with strict regulatory requirements.
Many people want meme coins like Pepe and WIF because they can be used for speculation.
Compliance Issues: The SEC is reviewing Exodus’ stock listing and Kraken is disputing the SEC’s claims. This shows that the crypto business still has problems with regulations.

Source

Markets

Crypto Markets Rebound as Spot Bitcoin ETFs Attract Massive Inflows

Published

6 months ago

17 July, 2024

FinCrypt Staff

Crypto Markets Rebound Ahead of Early Ethereum ETF Approval

This week saw $722 million worth of Bitcoin spot ETF inflows, including the largest daily inflow in a month.

Cryptocurrency markets rallied on Wednesday, driven by inflows into spot Bitcoin exchange-traded funds (ETFs).

The price of Bitcoin (BTC) is up 3% over the past 24 hours to last change hands at $65,200, according to CoinGecko. Ethereum (ETH) is up 2% and is trading at $3,471. Solana (SUN) and Polkadot (POINT) increased by 4%.

Bitcoin spot ETFs saw $422 million in daily inflows on Tuesday, the highest in the past 30 days, according to Far side data, . The all-time record for a single day was $1.05 billion on March 12.

Among Tuesday’s top contributors, BlackRock’s IBIT led with $260 million in inflows, followed by Fidelity’s FBTC with $61 million. This week has already seen more than $722 million in inflows.

Among the top 100 cryptocurrencies by market cap, Worldcoin (WLD) led with a 28% increase, followed by Helium (HNT) with 20% and Lido DAO (LDO) with 15%.

Worldcoin, a decentralized identity project led by OpenAI CEO Sam Altman, announced is extending the lockups for early investors and team members. This means that tokens will be gradually released through 2029, instead of the original 2027 plan. Token unlocks are generally seen as a negative because they increase supply and early investors can sell their tokens for profit.

Meanwhile, XRP, the token of the XRP Ledger network, jumped 8% after the CME and CF benchmarks introduced new indices and reference rates for XRP.

U.S. stocks faced a downturn on Wednesday. The S&P 500 fell 1%, while the Nasdaq Composite and Dow Jones Industrial Average both fell 2%.

Source

Markets

Altcoins on the cusp of a major breakout – WLD, AR, and INJ prices could surge by 20% in the coming days

Published

6 months ago

17 July, 2024

FinCrypt Staff

Altcoins on the cusp of a major breakout – WLD, AR, and INJ prices could surge by 20% in the coming days

Crypto markets appear to have been taken over by the bulls as major tokens have surged above their crucial resistance zone. Bitcoin surged above $65,000 while Ethereum was above $3,500, and XRP, which had remained passive for quite some time, surged over 40% in the past few days to hit $0.6. The uptrend has been captured in most altcoins, with Worldcoin (WLD), Arweave (AR), and Injective (INJ) leading the rally. Here’s what to expect for these tokens in the coming days.

Worldcoin (WLD) Price Analysis

O Worldcoin Price has been trading inside a descending wedge since it marked a new ATH near $12 in the final days of Q1 2024. The recent price action helped the price break out of the upper resistance of the wedge, breaking above the crucial resistance zone between $2.21 and $2.39. Market sentiments have changed, but technicals suggest that the bulls may remain passive for a while, which could offer some room for a bearish pullback.

The price broke out of the wedge with a significant increase in volume, but the current volume suggests that the bulls have taken a step back. Meanwhile, the RSI is about to reach the upper boundary, which could attract bearish forces. Additionally, the DMI has undergone a bullish crossover, but the decline in the ADX suggests that the rally may remain consolidated above the gains. Therefore, the WLD price is expected to maintain a horizontal consolidation between $3 and $3.3 and trigger a fresh rally to $4.4 during the next bullish rally.

Arweave (AR) Price Analysis

Arweave formed a strong base around $25, which helped the rally trigger a recovery during the bearish attack. Mt. Gox and German terror forced the price to fall below $20. However, the recent price action has brought the altcoin within the bullish range and raised expectations of maintaining a decent uptrend for a few more days.

AR price has hit one of the major resistances around $30 to $31.5, which could act as a strong base once overcome. The buying volume is slowly increasing, which could keep the bullish hopes for the rally high. Moreover, the supertrend has just flashed a buy signal, indicating a clean reversal of the trend. Therefore, AR price seems primed to maintain a healthy uptrend and rally above $40. However, if the bulls maintain a similar trend, making new highs above $50 may not be a tedious task for the bulls.

Price Analysis of Injective (INJ)

Injective price has been showing sharp strength since the beginning of the year and hence, the recent turnaround is expected to revive a good uptrend going forward. The bears engulfed the rally to a large extent, but the recent price action suggests that the bulls have regained their dominance. Therefore, INJ price is expected to maintain a strong uptrend with a bearish interference on the way down.

INJ price has surged above the lower support zone and has registered consecutive bullish candles. Although the volume is below the required levels, the OBV is maintaining a sharp uptrend. Furthermore, the Ichimoku cloud lead span B is heading towards the lead span A and a healthy crossover indicates the start of a new uptrend. However, INJ price may be out of the bears’ reach once it secures the resistance zone between $30.77 and $32.12, which seems to be on the horizon.

Source

Markets

Ethereum at $3.5K, Exchange Supply Hits 34-Month High

Published

6 months ago

17 July, 2024

FinCrypt Staff

Ethereum at $3.5K, Exchange Supply Hits 34-Month High

Ethereum (ETH) supply on exchanges has hit a 34-month high as the asset’s price surpassed the $3,500 mark.

ETH has risen 2.3% over the past 24 hours and is trading at $3,490 at the time of writing. The second-largest cryptocurrency — with a market cap of $419 billion — briefly touched an intraday high of $3,517 earlier today.

ETH Price, Whale Activity, RSI, and Exchange Supply – July 17 | Source: Santiment

Ethereum’s daily trading volume also increased by 7.6% to reach $19.8 billion.

According to data provided by Santiment, the supply of Ethereum on exchanges has reached $19.52 million ETH. This level was last seen in September 2021, when the asset was trading around the same price.

On the other hand, data from the market intelligence platform shows that the number of whale transactions has fallen by 12% in the last day — falling from 8,730 to 7,629 unique transactions per day.

The move shows that the supply of Ethereum on exchanges has been increasing with small deposits rather than large transactions from whales.

Additionally, the ETH Relative Strength Index (RSI) is currently hovering at the 60-mark, per Santiment. The indicator shows that Ethereum is slightly overbought at this price point, but it may not be in a critical position due to its large market cap.

One of the main drivers of Ethereum price increase is ETH spot expectations ETFs in the US Investment products are scheduled to start trading on July 23rd.

Source

Markets

Bits + Beeps: How to Play the ‘Trump Trade’ in Cryptocurrencies After the Assassination Attempt

Published

6 months ago

17 July, 2024

FinCrypt Staff

Bits + Bips: How to Play the ‘Trump Trade’ in Crypto After the Assassination Attempt

Also, how much will the Fed cut rates (and when)? What will be the inflows into ETH ETFs? And what is the near future for Bitcoin?

Posted on July 17, 2024 at 12:00 PM EST.

Listen to the episode at Apple Podcasts, Spotify, Capsules, Source, Podcast Addict, Pocket molds, Amazon Musicor on your favorite podcast platform.

In this episode of Bits + Bips, hosts James Seyffart, Alex Kruger and Joe McCann, joined by guest Jack Platts, dive into the market reaction to the recent assassination attempt on former President Donald Trump, analyzing how this event will influence the 2024 US presidential election and the cryptocurrency markets.

They also cover potential rate cuts: Could there be a cut in July? How big could the September rate cut be? Could the decision be influenced by the upcoming election?

They also give their predictions on what percentage of BTC ETF inflows the ETH ETFs will reach, and James talks about what he expects for Grayscale’s ETHE (hint: his outlook would be positive for ETH).

Finally, they delve into what’s next for Bitcoin as the German government runs out of BTC and Mt. Gox distributions begin. Just now?

Program Highlights:

Whether Trump’s shooting decided the election and whether the event caused a “flight to safety”
How election markets are becoming a place to watch election probabilities and whether cryptocurrencies “lean right”
Whether rate cuts will occur in July or September and by how much they will cut: 25 bps or 50 bps
How Joe sees the relationship between global liquidity cycles, rate cuts, and the potential rise of Bitcoin
What are the new updates about Ethereum ETFs and their expected launch?
Why Solana Hasn’t Performed Significantly Better Since Trump News
What Market Breadth Indicates About the Current Market Rally and the Impact of Rates on Small Caps
Everyone’s predictions on ETH ETF inflows and how much outflow we’ll see on Grayscale’s ETHE
What’s Next for BTC After German Government Exits Bitcoin and Mt. Gox Giveaways Starting This Week