These will be the biggest beneficiaries of Ethereum ETFs
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submitted by /u/CriptoinformeNews [link] [comments]
UBS has raised its gold price forecast following a record surge in gold prices, driven by anticipated Federal Reserve rate cuts and a weakening U.S. dollar. The main factors behind the investment bank’s upgraded gold price prediction include softer U.S. economic data, increased central bank demand, and ongoing geopolitical uncertainties. UBS Revises Gold Price Prediction […]
Shiba Inu, known as the “Dogecoin Killer,” is eagerly anticipating a significant price leap. Market analyst Ashish has sparked excitement with a bold prediction: a 600% surge that could catapult the meme coin to an impressive $0.000075. Related Reading: Ethereum Eyes $4,000 Comeback Fueled By Bullish Buying Spree This bullish forecast comes after what Ashish describes as a nearly two-year-long slumber within a consolidation pattern. December 2023 saw Shiba Inu finally break free from this price purgatory, breaching a crucial resistance trendline. The breakout ignited a rally that culminated in a 370% surge, reaching a 2024 high of $0.000045 in early March. However, the party wasn’t meant to last. A correction ensued, prompting Ashish to establish strategic buying zones between $0.000022 and $0.000025. Shiba Inu: Enter The Flag Pattern Ashish’s crystal ball sees a bullish flag pattern emerging on the 1-hour chart, hinting at a potential “second leg up.” This technical indicator suggests a period of consolidation following a sharp price increase, often acting as a precursor to another upward movement. Despite a slight price dip today, Shiba Inu appears to have room for growth. The daily Relative Strength Index (RSI) currently sits at nearly 48, indicating that the coin is neither overbought nor oversold. This neutral territory suggests potential for upward movement, aligning with Ashish’s prediction of a second leg up. SHIB Price Forecast Meanwhile, CoinCodex’s current Shiba Inu price prediction forecasts a rise of 220%, potentially reaching $0.00008089 by June 24, 2024. CoinCodex’s technical indicators currently show a Neutral sentiment, while the Fear & Greed Index stands at 76, indicating Extreme Greed. Over the past 30 days, Shiba Inu has seen 12 out of 30 green days (40%) with a price volatility of 4.40%. Given these metrics, it’s clear that Shiba Inu’s market behavior is capturing significant investor interest. The Extreme Greed reading on the Fear & Greed Index suggests a high level of enthusiasm, which, while positive for potential price gains, also warrants caution due to the possibility of rapid sentiment shifts. The coin’s moderate volatility and the occurrence of green days indicate a steady, albeit unpredictable, upward momentum. This combination of factors makes Shiba Inu a fascinating asset to watch in the coming months. Related Reading: Next Big Move For Bitcoin: Analysts Predict A Potential Breakout At $71,500 As of today, the overall sentiment for the Shiba Inu price prediction is neutral. This assessment is supported by technical analysis indicators, where 20 indicators are showing bullish signals, while eight are signaling bearish trends. This balanced sentiment reflects the inherent volatility and speculative nature of cryptocurrencies. The fact that a significant number of indicators are bullish suggests there is optimism about Shiba Inu’s short-term potential, possibly driven by recent market activities or positive news. Featured image from Top Gear, chart from TradingView
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U.S. SEC approves spot Ether ETFs, FIT21 crypto bill goes to the Senate, and Sam Bankman-Fried held in Oklahoma.
Long story short, saw that some coin supposedly built on eth network was airdropping so I figured what the heck. Probably worthless but perhaps it'll gain one day and I can make enough for an ice cream. So I created a brand new wallet, completely unrelated to all others, it was in browser (brave) and…
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Veteran crypto trader, Peter Brandt has issued a warning to the broader crypto community, stating that the industry has yet to experience its biggest disaster. Brandt boldly predicts that this catastrophe will be linked to cryptocurrency staking and the people involved in it. Related Reading: Ethereum Eyes $4,000 Comeback Fueled By Bullish Buying Spree Staking Could Lead To Crypto’s Greatest Disaster In an X (formerly Twitter) post on May 24, Brandt labeled crypto staking as one of the biggest threats to the digital currency space. According to the analyst, staking could become the harbinger of disaster for the industry, potentially causing the decline of the market’s reputation and leading to financial losses for traders. For more clarity, staking is a popular practice in the crypto industry that involves locking assets for an extended period to help support the blockchain. This allows token holders to participate as validators of the blockchain and earn staking rewards. Brandt cautioned that digital currency enthusiasts and traders involved in staking should be careful as it could potentially lead to bankruptcy and loss of fortune. He believes that staking may bring shocking future events that could possibly devastate the space. In a follow-up post, the trader outlined a progression of events related to staking, highlighting its potential negative impacts on the market. He disclosed that crypto staking involves owning, borrowing or leveraging an asset such as Solana and Ethereum. These assets are usually lent out to earn possible revenue, often in the form of interest. As staking becomes more widespread and accepted, it could attract the attention and involvement of Central Banks, government treasuries and other governmental authorities. Brandt reveals that this attention may lead to increased scrutiny and regulation of the staking process by the government. Consequently, the introduction of new regulations would have a detrimental effect on the crypto space, fundamentally changing the industry or possibly leading to the end of staking. Crypto Community Up In Arms Before issuing his controversial statement about crypto staking, Brandt disclosed that his opinions may not be well received by supporters of popular digital assets such as Ethereum and Solana. True to this prediction, many community members dismissed Brandt’s warning that staking could potentially bring disaster to the crypto space. A crypto member criticized Brandt for his statement, asserting that the crypto trader was uninformed about staking processes and was overstating the impacts of staking by claiming it would result in a “disaster.” Another crypto member had argued that Brandt’s definition of staking was factually incorrect. He clarified that staking was a process of using coins or tokens to verify and secure the consensus mechanism of a blockchain. Related Reading: Uniswap Shoots Past $10 On 15% Price Explosion – Here’s The Trigger Furthermore, a crypto community member, Tony Edward disclosed that the only risks in staking are associated with Centralized Exchanges (CEX), not with self custody staking. Featured image from Pexels, chart from TradingView
The Central Bank of Nigeria has increased the capital requirements for national bureau de change operators from approximately $24,000 to $1.4 million. The central bank has given operators a six-month period to comply and they must apply for new licenses. The bank’s director for risk management stated that street trading of foreign exchange is now […]
Musk recently said he expected xAI to catch up to OpenAI and DeepMind Google by the end of 2024.
