Category: Cryptocurrency News

Ethereum exchange-traded funds (ETF) have been the talk of the town – and rightly so – after the United States Securities and Exchange Commission (SEC) approved the listing of the investment products during the week. Meanwhile, the Bitcoin spot ETF market continued its resurgence on one side, marked by a second consecutive week of positive inflows. This streak of positive inflows represents a complete shift from previous weeks when investment activity was dangerously low. However, this recent turnaround reflects a rise in investor confidence over the past two weeks. Bitcoin Spot ETF: $252 Million In Net Inflows In One Day On Friday, May 24, the US Bitcoin spot ETF market saw another day of positive inflows, marking the 10th consecutive day of significant investment into these funds. According to data from SoSoValue, the market recorded a total net inflow of approximately $252 million to close the week. Related Reading: Lido (LDO) Takes The Lead With 13% Surge Post Ethereum ETF Approval – Key Levels To Watch Breaking this down, BlackRock amassed a substantial percentage of the total daily investment, with the IBIT ETF posting an inflow of $182 million. Grayscale Bitcoin Trust (GBTC), on the other hand, did not attract any capital on Friday, ending the week with zero daily outflows and inflow.  Other ETF issuers, such as Fidelity, Bitwise, and ARK Investment, also witnessed impressive inflows on Friday. Most notably, Fidelity’s FBTC came second to BlackRock’s fund after attracting about $43.7 million on the last day of the week. More importantly, this positive inflow day means that the Bitcoin spot ETF market has amassed significant investment every day for the second week in a row. And after the close of Friday’s trading session, the net inflow in the past week stood at an impressive $1.06 billion. This sustained positive trend in terms of capital inflow suggests that investor confidence in Bitcoin ETFs might be back at an all-time high. The last time there was a consistent positive capital inflow into these products, the Bitcoin price rose to a new all-time high. With Ethereum spot ETFs on the brink of trading in the US, crypto exchange-trade products seem to be in fashion at the moment. And they might just be the catalyst that the crypto market – particularly Bitcoin – needs to resume what is left of the bull cycle. Bitcoin Price At A Glance As of this writing, Bitcoin is valued at $68,868, reflecting a 2.5% price increase in the last 24 hours. According to data from CoinGecko, the premier cryptocurrency is up by 3% on the weekly timeframe. Related Reading: Bitcoin Bulls Gain Breathing Room As Long-Term Holder Activity Eases – Glassnode Featured image from iStock, chart from TradingView

Quantum resistant projects had a nice run up as we learned about Vitalik's emergency plans, Apple's imessage, Coin Bureau team investigating QR coins, and non-stop breakthroughs in quantum computing, along with countries putting heavy focus on preparing. Since then, these projects really cooled off. People like to categorize coins into certain narratives, and Quantum will…
Read more

Meme coins are thriving on Solana – with the up-and-coming Sealana (SEAL) token being one of the most talked-about new projects. This seal-themed crypto has already secured over $2.5 million in funding ahead of its highly-anticipated exchange debut in the coming weeks. Sealana’s Presale Passes $2.5M Mark as Retail Traders Buy In Few meme projects […]

submitted by /u/BabyishHammer [link] [comments]

As Coinbase seeks an interlocutory appeal in its legal dispute with the U.S. Securities and Exchange Commission (SEC), recent legislative developments have highlighted a growing discord between U.S. Congress and the SEC over digital asset regulation. This past week, legislators passed comprehensive digital asset legislation aimed at curbing the SEC’s expansive jurisdiction claims. As Coinbase […]

Hi, im really stuggling and havnt ate in 3 days and struggling so bad I visited a food bank today and was refused as I did not have a refferal voucher, i was given 3 biscuits and a tea, as theyre wouldnt be enoufh for those that did have voucher. Iive been painfully doing surveys…
Read more

Over some days, the price of Ethereum has been in a consolidation zone, moving between $3,949 and $3,627. This is a result of the rally that happened a few days ago which led to the crypto asset’s price making over 10% movement on the upside.  When prices are consolidating, it can only be considered that it is building momentum to either break above the consolidation zone or below it. At this point, we cannot tell the next action the price will take. In this article, we will see the possible outcome if there is a break out from the consolidation. As of the time of writing, the price of ETH was up by 0.66%, trading around $3,752 above the 100-day Simple Moving Average (SMA) in the last 24 hours. Ethereum On The 4-Hour Chart Looking at Ethereum’s chart on the 4-hour timeframe, it can observed that the price is trading above the 100-day moving average, suggesting ETH’s price is on a bullish trend and could break above the consolidation zone. Also, with the help of the MACD indicator, although the MACD histograms are trending below the MACD zero line, these are already showing signs of weakness as the histogram color is becoming faint. The MACD line and the MACD signal line are also seen moving toward the MACD zero line but as long as they are still above the zero line, there could be a possible reverser. With this MACD formation, it could be suggested that the price of Ethereum is still bullish and there is a possibility it could break above the consolidation zone Finally, using the Relative Strength Index (RSI) also to analyze the price action in the 4-hour timeframe, it can be seen that the RSI line is attempting to back up after failing to cross below the 50 lines, suggesting that the price is still bullish. Possible Outcomes If There Is A Breakout In Either Direction Conclusively, if there is a break out above the consolidation zone, the price of ETH might continue to move upward toward the $4,094 resistance level. Should the price surpass this resistance level, it might move further upward to create a new high for the year. On the contrary, if Ethereum breaks below the consolidation zone, the price might begin to move toward the $3,263 support level. A breakout below this level might cause a continuous downward movement toward the $2,864.04 support level. Featured image from iStock, chart from Tradingview.com

Cryptocurrency exchange Okx has decided to withdraw its virtual asset service provider (VASP) license application in Hong Kong. As a result, Okx will stop offering centralized virtual asset trading services to Hong Kong residents by May 31, 2024. The exchange stressed that customer funds remain secure, and withdrawal services will continue unaffected. Okx’s web3 (self-hosted […]