Commissioner Peirce says SEC is evaluating ‘retroactive relief’ for past coin offerings
Peirce also said the agency is reconsidering whether certain types of crypto assets are securities.
Peirce also said the agency is reconsidering whether certain types of crypto assets are securities.
Despite Ethereum (ETH) recently losing the critical $3,000 threshold due to broader cryptocurrency market corrections influenced by escalating regulatory tensions between the US and China, optimism for the leading altcoin persists. As of now, Ethereum has rebounded nearly 10%, trading just above $2,800, which places it above key support levels that could pave the way for new record highs in this bullish cycle. Critical $2,700 Level: Key For ETH’s Bullish Structure Throughout this market cycle, Ethereum has struggled compared to its peers. With a year-to-date (YTD) increase of only 21%, it has significantly lagged behind other cryptocurrencies like Solana (SOL) and XRP, which have recorded impressive gains of 120% and 420%, respectively. Despite this, crypto analyst Ali Martinez has pointed out that Ethereum must maintain the $2,750 support level to establish a foundation for a potential surge to $6,760. In another analysis, Martinez noted that if Ethereum forms a head-and-shoulders pattern—a common technical chart pattern—the altcoin needs to stay above $2,700 to preserve its bullish structure, with a target of reaching $7,000. This indicates that the $2,700 level is pivotal for Ethereum’s potential to achieve a new record high, suggesting a possible 150% increase if these scenarios materialize. Another analyst, known as Morecryptoonl, cautioned that the market lacks substantial structure at present, indicating that a break above the recent local low of $2,909 would signify a more stable price environment. He emphasized the importance of maintaining support above $2,236 for a more robust recovery. Trump Family Backs Ethereum Adding to the optimism, the Trump family has shown notable support for Ethereum. World Liberty Financial (WLFI) recently purchased an additional 1,826 ETH, amounting to approximately $5 million. According to Lookonchain data, with a total investment of 61,114 ETH for $205 million at an average price of $3,354, WLFI has sustained a loss of about $31 million on this position. Moreover, Trump’s crypto venture also transferred significant amounts of various cryptocurrencies, including 86,296 ETH ($235 million) and 647 WBTC ($65.5 million), to Coinbase Prime, indicating a strategic positioning within the crypto market. Further bolstering Ethereum’s prospects, recent ETF flows reveal a noteworthy trend: while approximately 2,400 BTC were sold on February 3, ETH exchange-traded funds (ETFs) saw net inflows of $83.6 million. This contrasts sharply with the $234.4 million in net outflows from Bitcoin ETFs, suggesting that institutional investors are increasingly confident in Ethereum’s future, despite recent price corrections. Trading at $2,819, ETH is down as much as 21% on a monthly basis, with a 42% gap to its all-time high of $4,878 reached during the 2021 bull run. Featured image from DALL-E, chart from TradingView.com
XRP price faces a double bearish divergence which could trigger a 25% correction.
A distribution notice from FTX Digital Markets showed that the initial group of claimants could expect the value of their funds to be returned plus interest.
Sol Strategies has strengthened its validator operations and SOL holdings, acquiring an additional 40,300 SOL worth $9.93 million. Expansion of SOL Holdings and Validator Operations Remain Key for Sol Strategies Sol Strategies Inc., a publicly traded Canadian firm focused on the Solana blockchain, has announced significant validator growth and expanded SOL holdings. Between Jan. 19-31, […]
After receiving a considerable backlash in the market recently, US President Donald Trump’s meme coin found an unlikely ally: Ark Investment’s CEO Cathie Wood. Related Reading: Crypto Traders Wrecked As Trump’s Tariffs Spark $2 Billion Liquidation In an interview with Bloomberg, Cathie Wood boldly claimed that launching Trump’s meme coin is good for the industry and signals a paradigm shift. Wood claimed its launch was a “meme coin moment” and would help the crypto industry establish its claim as a legitimate digital asset. She further compared Trump’s meme coin launch to the initial coin offerings (ICO) campaigns for 2017. During this period, thousands of crypto projects raised huge amounts, paving the way for creating popular projects like Chainlink, the EOS network, and Ethereum. TRUMP Meme Coin: Relying On A ‘Meme-Only’ Utility President Donald Trump surprised the broader crypto market by launching his official cryptocurrency on the Solana blockchain last January 17th. As expected, the TRUMP token surged immediately after listing and gained plenty of attention when Trump officially took office. Then, the token hit an all-time high of $77 days after its debut in the market. However, the TRUMP token failed to sustain its impressive price surge and soon dropped massively. The token is currently trading at around $17, putting into question the asset’s use cases. According to Cathie Wood, the only confirmed use case for this meme coin is its connection with the current US president. Still A No-Buy For Cathie Wood Interestingly, Wood issued a few statements about the Trump coin in January. Just days after the coin’s launch, Wood said the project lacked a real-world use case and that she’s staying away from meme coins. Today, Wood sings a different tune and sees potential value for the TRUMP coin. In the same Bloomberg interview, she shared one rumor that holders will be allowed to meet President Trump. However, Wood’s statement remains unconfirmed and just pure speculation. Related Reading: Trump Effect? Solana Stablecoin Supply Jumps 73% Since Mid-January Wood, Ark Investment Focused On Top Cryptos Although Wood appreciated the role of the TRUMP token in ushering in a new era for crypto, she insisted that she would not invest in meme coins. She added that her company has generally avoided meme coins for their lack of use cases. Instead, Ark Investment is focused on the top cryptocurrencies like Bitcoin. In addition to Bitcoin, Wood is looking at Solana and Ethereum for their role in DeFi projects and smart contracts, which will have plenty of use cases in the future. Featured image from Protos, chart from TradingView
Hey people Some weeks ago, I made a transaction on an upcoming token. Using eth blockchain. There was the opportunity to buy directly without a linked wallet (chooses that cause of lack of trust in the recommended wallet, but got that later). Made a direct transaction. Now I cannot reach out for these tokens. The…
Read more
Altcoin Daily’s Austin Arnold discusses how global events and Trump’s influence are shaping the crypto bull market.
As chronicled by blockchain forensic expert Zachxbt in a recent investigative report, operatives linked to North Korea attempted to transfer 46,300 XRP to a digital asset platform but committed a critical misstep by omitting a mandatory destination identifier. Blockchain Expert Zachxbt Exposes North Korea’s Costly XRP Mishap This oversight—akin to mailing a letter without a […]
Canadian national Andean Medjedovic has been accused of committing the $48-million exploit on DeFi protocol KyberSwap.