Search Immortality Topics:

Page 11234..1020..»


Cryptocurrency Market News: Spot Bitcoin ETFs Shift to Outflows Ahead of Halving – Investopedia

Posted: April 19, 2024 at 2:46 am

Key Takeaways

Bitcoin (BTCUSD) traded flat while spot bitcoin exchange-traded funds (ETFs), which have been driving up bitcoin demand and consequently its price, experienced a rare week of net outflows as the markets geared up for the halving event later this week.

Uniswap Labs received a Wells notice from the U.S. Securities and Exchange Commission (SEC). Monad Labs raised $225 million from Paradigm and others.

Last week, U.S. spot bitcoin ETFs experienced net outflows, a rare occurrence that has only happened three times since these funds were introduced in January.

Between April 8 and April 12, the category, which comprises 11 funds, reported a loss of about $83 million in assets, according to data from BitMEX Research. This represents a significant swing from the previous week's net inflows of $485 million. Despite this setback, spot bitcoin ETFs have amassed $12.5 billion in net positive inflows since they were launched.

Notably, the Grayscale Bitcoin Trust ETF (GBTC) continued to post a decline, with $767 million exiting the fund last week alone. In contrast, other leading funds such as BlackRocks iShares Bitcoin Trust (IBIT) and the Fidelity Wise Origin Bitcoin Fund (FBTC) brought in $487 million and $90 million, respectively, but these gains were insufficient to counterbalance the substantial outflows from GBTC.

Demand generated by spot bitcoin ETFs has been credited for the recent rally in bitcoin prices, and it is also considered a key differentiator for the upcoming bitcoin halving versus prior instances.

Decentralized crypto exchange Uniswap last week disclosed receiving a Wells notice from the SEC, indicating impending enforcement actions.

This led to a sharp drop in the price of Uniswap's native token, UNI, falling from above $11 before the news broke to under $8. Uniswap Labs CEO Hayden Adams shared his disappointment and readiness to contest the charges on X. Wells notices serve as preliminary alerts about potential regulatory charges and often precede formal enforcement actions.

The SEC's concerns centered on allegations of Uniswap operating as both an unregistered securities broker and exchange, Uniswap executives Mary-Catherine Lader and Marvin Ammori clarified at a press conference, according to CoinDesk. The specifics of whether UNI itself might be classified as a security weren't clear from the notice. Ammori referenced a favorable recent court decision for Coinbase, which he sees as a positive indicator for Uniswap's defense against similar charges.

Monad Labs has secured $225 million in a funding round led by Paradigm, enabling the company to expand its team and advance the development of its blockchain, which is designed to contend with Ethereum.

This financial backing aims to transition Monad's test version of its blockchain into a full production stage. Its Layer 1 blockchain maintains compatibility with the Ethereum Virtual Machine (EVM). According to Monad's announcement on Substack, the EVM processes more than 96% of all investments in decentralized finance (DeFi).

While Ethereum is currently limited to processing fewer than 20 transactions per second, Monad's newly operational testnet, launched in March, demonstrates a capacity to handle approximately 10,000 transactions per second. This significant increase in transaction throughput is part of a broader trend in the crypto community, which sees various entities, including both Layer 1 and Layer 2 solutions, striving to enhance DeFi's efficiency. Monad's approach incorporates parallel execution to significantly boost performance across the protocol.

This round of funding also attracted investments from several notable firms, including Electric Capital, Castle Island Ventures, Animoca Ventures, Coinbase Ventures, and CoinFund, underscoring broad industry support for Monad's technology.

All eyes are on the anticipated bitcoin halving this week, as the fourth iteration of the scheduled decrease in the cryptocurrency's issuance rate is expected to take place by the end of the month.

Halving, which occurs after every 210,000 blocks, or roughly every four years, cuts the pace of new bitcoin mined and halves miner incentives.

While previous halvings have led to bull runs for bitcoin in the past, multiple industry reports have indicated the spot bitcoin ETF market may have a bigger impact on the cryptocurrency's supply-and-demand dynamics at this point.

Despite the upcoming decline in bitcoin-denominated revenue for miners, it's possible miners could enjoy an increase in revenue in dollar terms due to the potential for a bitcoin price run-up combined with the developments of Ordinals and various Layer 2 networks.

Excerpt from:

Cryptocurrency Market News: Spot Bitcoin ETFs Shift to Outflows Ahead of Halving - Investopedia

Recommendation and review posted by G. Smith

Cryptocurrency: 3 Coins To Buy for Long-Term (10x) Profits This Bull Run – Watcher Guru

Posted: April 19, 2024 at 2:46 am

The realm of cryptocurrency is dubbed volatile and exciting at the same time. There are times when dependable altcoins fail to perform their best while the underrated gems emerge as the ultimate winners of the race. It can be particularly hard to dissect notable coins that may deliver stable returns as compared to volatile ones, which may steal away all your savings and investments.

With that thought in mind, heres our pick of the top three crypto coins that may deliver stabler profits this bull season.

Solana led the current bull run in all its glory, projecting a stellar price stance. The SOL ecosystem was rife with new presale coins and projects that helped the token sail to new highs.

The Solana ecosystem has recently deployed a congestion bug fix in its blockchain, which is bound to keep the network from crashing due to heavy traffic and trading.

This may help Solana onboard new users, as the network is primarily known as a hassle-free, low-cost, effective blockchain in the Web3 vertical. This will help SOL recover all its lost value at a rapid pace, crowning itself as a leading player in the web3 space.

According to CoinCodex, Solana may experience a notable price surge post-Bitcoin halving. Per CC, SOL may gain 13% to trade at $150 by the end of April 2024.

The price of Solana may rise by 13.54% and reach $150.73 by May 18, 2024. Per our technical indicators, the current sentiment is bearish, while the Fear & Greed Index is showing 57 (greed). Solana recorded 15/30 (50%) green days with 9.78% price volatility over the last 30 days.

XRP has long been embroiled with the SEC in a heated legal spat. Despite its sluggish pace and the prolonged legal warfare with the SEC, the token continues to hold its ground steady. XRPs magical price road is progressing primarily due to Ripple, its parent company, which is relentlessly pursuing monumental new partnerships with leading financial players in the space.

These new partnerships are key pathways for Ripple to gain further prominence, helping its token XRP to recover its lost fortunes sooner or later. Once the legal warfare with the SEC concludes, XRP may recover and regain its value, which makes it a great asset to hold and explore.

According to CoinCodex, XRP will gain 15% by the end of April, trading at $0.56 by May 17.

The price of XRP may rise by 15.83% and reach $0.568167 by May 18, 2024. Per our technical indicators, the current sentiment is bearish, while the Fear & Greed Index is showing 57 (greed). XRP recorded 14/30 (47%) green days with 7.50% price volatility over the last 30 days.

Ethereum is dubbed as the second-best cryptocurrency after Bitcoin. With the Bitcoin Halving event knocking on the door, the event may trigger a chain reaction, leading the altcoins to document a notable price spike.

Ethereum might also benefit from this change, assisting the token to seek stability in its price levels.

According to CoinCodex, Ethereum may spike 2% to trade at $3,107 by May 17. The slow yet steady price pace is what promises stable profit margins to its investors in the long term.

The price of Ethereum may rise by 2.87% and reach $3,105.24 by May 18, 2024. Per our technical indicators, the current sentiment is bearish, while the Fear & Greed Index is showing 57 (greed). Ethereum recorded 16/30 (53%) green days with 4.90% price volatility over the last 30 days.

Read more here:

Cryptocurrency: 3 Coins To Buy for Long-Term (10x) Profits This Bull Run - Watcher Guru

Recommendation and review posted by G. Smith

Bitcoin price might not rally after halving event, JPMorgan says – Quartz

Posted: April 19, 2024 at 2:46 am

This years Bitcoin halving event will be different than past ones, as the top cryptocurrency might actually lose value in the aftermath instead of rallying. Thats according to an analysis from JPMorgan, CoinDesk reports. The bank has predicted a decline in the value of the worlds largest cryptocurrency due to overbought market conditions.

TSMC beat on Q2 expectations driven by AI boom, Nvidia, and Apple

Moreover, the current cryptocurrency price of approximately $61,200 remains above the banks volatility-adjusted comparison with gold of $45,000, CoinDesk reports.

The Bitcoin halving will occur around April 19-20, cutting the current mining rate to 3.125 Bitcoin from 6.25 Bitcoin. Halving is an integral part of the Bitcoin blockchain system, which creates a monetary system that controls inflation.

After briefly dropping below $60,000 a day earlier, Bitcoin was down 1.17% on Thursday morning, hovering around $62,000, according to CoinMarketCap.

There has been a lot of discussion about this years Bitcoin halving being different from all the previous such events, primarily because the top cryptocurrencys price reached its peak a month before the halving event, which has never happened before.

Historically, Bitcoin halving has boosted the price of the cryptocurrency. For instance, after the first Bitcoin halving in 2012, the price was $12. It went up to $44 100 days after the event and $135 after 300 days.

Similarly, after the 2016 halving event, the cryptocurrency went from $658 to $1,551 in 300 days. And in the most recent halving of 2020, the price of $8,601 went to $50,941 within 300 days.

Read more: The big Bitcoin halving event is almost here. Weve got answers to all your questions

This time around, banking giants are not sure that the trend will continue given the market conditions. Recently, Goldman Sachs warned caution due to unpredictable macroeconomic factors regarding Bitcoins upcoming halving.

Historically, the previous three halvings have been accompanied by BTC price appreciation after the halving, although the time it took to reach the all-time highs differs significantly, said Goldmans Fixed Income, Currencies and Commodities (FICC) and Equities team, per CoinDesk. Caution should be taken against extrapolating the past cycles and the impact of halving, given the respective prevailing macro conditions.

See the original post here:

Bitcoin price might not rally after halving event, JPMorgan says - Quartz

Recommendation and review posted by G. Smith

Cryptocurrency: Top 3 Coins That Could 10X In The Bull Run – Watcher Guru

Posted: April 19, 2024 at 2:46 am

As the cryptocurrency market gears up for another potential bull run, investors are eagerly searching for the next big opportunity. While the market is filled with countless coins and tokens, three cryptocurrencies stand out as top contenders for achieving a 10X return during the upcoming bull market: Solana (SOL), Aptos (APT), and Dogecoin (DOGE).

Despite the current market downturn, Solana is trading at $130.87, down 6.21% in the past 24 hours, and many experts believe that Solana has the potential to skyrocket during the next bull run.

One of the key factors contributing to Solanas potential for explosive growth is its ability to process thousands of transactions per second, making it an attractive option for developers and users alike. Additionally, the platforms recent update and growing meme coin sector could push it higher.

Also read: Binance Launches Megadrop: An Airdrops and Web3 Quests Platform

While Solanas all-time high of $260.06, reached in November 2021, may seem distant, the current market conditions could provide an excellent opportunity for investors to accumulate SOL before the next bull run takes off.

Aptos is trading at $9.04, down 2.84% in the past 24 hours, APT has already shown impressive growth since its launch, reaching an all-time high of $19.90 in January 2023.

Aptos distinguishes itself by utilizing the Move programming language, originally created by Facebook (now Meta) for their Libra (now Diem) project. Developers building decentralized applications find the Move language attractive due to its secure, scalable, and flexible design.

Also read: Dogecoin Forecasted To Reclaim $0.2 Level: Heres When

As the Aptos ecosystem continues to grow and more airdrops are set to launch in its ecosystem, the potential for APT to achieve a 10X return during the next bull run becomes increasingly likely.

Dogecoin, the meme-inspired cryptocurrency, is another top contender for explosive growth during the next bull run. Despite the current market downturn, with DOGE trading at $0.1438, down 8.88% in the past 24 hours, the coin has demonstrated its ability to generate massive returns in the past.

During the previous bull run, Dogecoin reached an all-time high of $0.7376 in May 2021, representing an impressive 80.41% increase from its current price.

Also read: Shiba Inu Forecasted To Hit $0.0003: Heres When

With a strong and loyal community behind it, DOGE has the potential to once again capture the attention of investors and achieve significant growth during the next bull market.

Moreover, the endorsement of high-profile individuals, such as Elon Musk, could further fuel its growth in the coming months and years.

However, as with any investment, it is crucial to conduct thorough research and exercise caution before making any financial decisions.

Original post:

Cryptocurrency: Top 3 Coins That Could 10X In The Bull Run - Watcher Guru

Recommendation and review posted by G. Smith

Countdown Is On for the Bitcoin ‘Halving’ – The New York Times

Posted: April 19, 2024 at 2:46 am

Cryptocurrency enthusiasts have eagerly anticipated the third week of April, counting down the days until a potentially crucial moment in Bitcoins development called the halving.

Essentially, the halving is a scheduled reduction in the number of new Bitcoin that go into circulation. As the supply falls, some analysts anticipate that the digital currencys price will soar.

These reductions happen every four years or so. But this years halving has drawn especially enthusiastic attention as the crypto industry rebounds from years of falling prices and corporate implosions.

In recent months, Bitcoins price has surged to record highs, reaching $73,000 in March. Much of that increase was driven by the approval of new financial products tied to Bitcoin, which spurred billions of dollars in new investment. Crypto investors are hoping that the halving will create a similar effect, causing Bitcoins price to climb further.

Heres what to know about the halving.

A key purpose of Bitcoin is to enable people to exchange money without any sort of intermediary, like a bank, verifying the transaction.

In place of a bank, a distributed network of computers scattered around the world, all running Bitcoins software, performs the verification. To confirm a transaction, the computers solve complicated puzzles, racing one another to guess the answer. This process is designed to ensure that Person A has sufficient funds to send money to Person B.

We are having trouble retrieving the article content.

Please enable JavaScript in your browser settings.

Thank you for your patience while we verify access. If you are in Reader mode please exit andlog intoyour Times account, orsubscribefor all of The Times.

Thank you for your patience while we verify access.

Already a subscriber?Log in.

Want all of The Times?Subscribe.

View post:

Countdown Is On for the Bitcoin 'Halving' - The New York Times

Recommendation and review posted by G. Smith

RANAEX Revolutionizes Cryptocurrency Trading with Team Introduction and Licensing Milestone – AccessWire

Posted: April 19, 2024 at 2:46 am

POMPANO BEACH, FL / ACCESSWIRE / April 18, 2024 / RANAEX, the newly launched cryptocurrency exchange based in the United States, is making waves in the industry with its team of seasoned developers and a groundbreaking licensing milestone. Founded by former developers from Bybit and Binance, RANAEX brings a wealth of expertise and innovation to the table.

The recent acquisition of Money Services Business (MSB) licenses marks a significant step forward for RANAEX, opening doors for investors eager to engage in cryptocurrency trading on a platform known for its reliability and security. This licensing achievement sets RANAEX apart from competitors and establishes it as a trusted player in the market.

What sets RANAEX apart is its offering of perpetual futures, a service unmatched by other exchanges. This feature provides traders with unique opportunities for long-term investment strategies and hedging against market fluctuations.

Ethan Carter, CEO of RANAEX, envisions a bright future for the exchange, fueled by ambitious goals and a talented team. With the upcoming Bitcoin halving event in 2024 on the horizon, Carter is determined to lead RANAEX to new heights, drawing inspiration from the rapid success of Binance during the 2020 Bitcoin halving.

In an exciting development, Carter announced RANAEX's plans to release its own platform coins, promising further innovation and growth for the exchange. More details about this initiative will be unveiled in the upcoming press conference, underscoring RANAEX's commitment to pushing the boundaries of the cryptocurrency industry.

As RANAEX continues to disrupt the status quo and pave the way for the future of cryptocurrency trading, investors can expect unparalleled opportunities and advancements on the horizon.

Stay tuned for more updates from RANAEX as it embarks on its journey towards becoming a leading force in the global cryptocurrency market.

Media Information

For additional information and media inquiries, please contact:

Name: Ethan Carter Organization: RANAEX Website: https://ranaex.com Website: https://h5.ranaex.com/ Email: [emailprotected] Address: 817 West Sample Road, Pompano Beach, FLORIDA 33064 IG: https://www.instagram.com/ranaex_official/ Twitter: https://twitter.com/RANAEX_Official

Disclaimer

As a committed entity in the cryptocurrency trading space, RANAEX underscores the importance of a secure and decentralized trading environment. Nonetheless, it's crucial for investors to recognize that digital currency trading is not devoid of risks, including potential market volatility and losses. RANAEX encourages all users to undertake comprehensive research and possibly seek financial advice before engaging in investment decisions, acknowledging and understanding the inherent risks involved.

SOURCE: RANAEX

Continued here:

RANAEX Revolutionizes Cryptocurrency Trading with Team Introduction and Licensing Milestone - AccessWire

Recommendation and review posted by G. Smith


Page 11234..1020..»