Category: Cryptocurrency News

Bitcoin bulls seem unable to effect significant change on a sideways market — traders hope that macro data will upend the status quo for BTC price action.

Paxful, the peer-to-peer cryptocurrency platform, has announced a significant reduction in transaction fees for gift cards. The company has slashed its fees by 80%, from the industry standard of 5% to just 1%. This has already resulted in a surge in gift card volumes and trader interest according to the company. The fee reduction applies […]

Nansen believes the crypto wallet already earned $200 million by holding ETH.

So I created a crosschain protocol and won some money at ETH Waterloo almost a year ago and my product is being used by a company that has raised half a million so far. That company is operating ontop of my protocol in their closed beta. So we have an MVP, yay kinda. Our competitors…
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Bitcoin is increasingly viewed as a retirement investment product by traditional investors, thanks to the approval of spot Bitcoin ETFs.

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The past few months have seen Ethereum whales, the cryptocurrency world’s Goliaths, flexing their financial muscles. According to a recent report by Santiment, on-chain data reveals a surge in whale activity, possibly fueled by the green light for spot Ethereum exchange-traded funds (ETFs) from the US Securities and Exchange Commission (SEC). This heightened involvement from large investors adds an additional layer of intrigue to Ethereum’s bullish momentum, suggesting growing confidence and anticipation within the market. Related Reading: Time To Stack Stellar (XLM)? Analyst Calls For Epic 500% Price Breakout A Whale Of A Time: Accumulation Anchors Ahead The SEC’s surprise approval on May 23rd of 19b-4 forms for ETF applications from heavyweights like BlackRock and Fidelity stirred the cryptoverse nest. This long-awaited decision, following months of radio silence from regulators, seems to have been the harbinger of a buying spree for Ethereum’s biggest players. Santiment’s report dives deep, revealing a nearly 30% increase in holdings by wallets containing at least 10,000 ETH over the past 14 months. This translates to a staggering 21 million ETH, currently valued at a cool $83 billion, scooped up by these deep-pocketed investors. With Ethereum even surpassing Bitcoin in terms of percentage gains last month, it’s no surprise that the accumulation party shows no signs of stopping. Profit Feast Before The Main Course? The data suggests a recent uptick in whale transactions exceeding $100,000 and a whopping $1 million, reaching year-to-date highs after the ETF approval. This surge in activity could be interpreted as whales taking advantage of the bullish sentiment to lock in some profits. However, Santiment suggests this might be a strategic pit stop before diving back into the buying pool. As long as these “10K+ ETH wallets are still moving north,” the report argues, Ethereum’s price has the potential to continue outperforming its bigger brother, Bitcoin, even amidst market volatility. Profitable Seas For Ethereum Sailors The good news extends beyond whale activity. An analysis by NewsBTC revealed a positive trend in daily Ethereum transactions. Measured over a seven-day moving average, the ratio of profitable transactions to those ending in a loss sits at a healthy 1.87. This indicates that for every losing trade, there are nearly two winning ones, suggesting a wave of optimism among Ethereum investors. Ethereum Price Prediction Meanwhile, the predicted yearly low Ethereum price projection for 2025 is $ 3,716, based on the historical price patterns of Ethereum and the BTC halving phases. According to predictions, Ethereum’s price could rise to $6,722 in the upcoming year. Related Reading: Dogwifhat Unstoppable: Bullish Sentiment To Propel WIF Towards $6.7 – Analyst At the moment, the price projection for Ethereum in 2025 ranges from $3,716 on the low end to $6,722 on the high side. If ETH hits the higher price objective, Ethereum’s value might increase by 80% by 2025 compared to its current value. Ethereum has surged by 100% over the past year, outpacing 50% of the top 100 crypto assets. Trading above its 200-day simple moving average, it exhibits a bullish momentum, supported by 17 green days in the last 30, representing 57% of recent trading sessions. This performance underscores Ethereum’s resilience and attractiveness to investors, bolstered by its high liquidity and negative yearly inflation rate of -0.24%, signaling potential scarcity and value appreciation. Featured image from Klook, chart from TradingView

Before the KYC change, Telegram Wallet users did not have to provide any personal information to use the default version of the wallet.