Day: November 19, 2023

Fidelity Joins Race for Spot Ethereum Exchange-Traded Fund, ETH ETF Would Be Major Win for US Investors: SEC Filing

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Financial services giant Fidelity is joining the roster of companies seeking to offer US investors a spot market Ethereum (ETH) exchange-traded fund (ETF).  A new filing with the U.S. Securities and Exchange Commission (SEC) shows that the $4.5 trillion asset manager is seeking to list and trade shares of the Fidelity Ethereum Fund.  “According to the Registration Statement, each Share will represent a fractional undivided beneficial interest in the Trust’s net assets. The Trust’s assets will consist of ETH held by the Custodian on behalf of the Trust. The Trust…

dYdX raises margin requirements in some markets, bans “highly profitable trades”

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Decentralized crypto exchange dYdX has disclosed new measures to mitigate trading-related risks after burning $9 million of its insurance fund on Nov. 17 to cover users’ losses. According to an announcement on X (formerly Twitter), the exchange increased margin requirements on several “less liquid markets,” affecting tokens such as Eos (EOS), 0x Protocol (ZRX), Aave (AAVE), Algorand (ALGO), Internet Computer (ICP), Monero (XRM), Tezos (XTZ), Zcash (ZEC), SushiSwap (SUSHI), THORChain (RUNE), Synthetix (SNX), Enjin (ENJ), 1inch Network (1INCH), Celo (CELO), Yearn.finance (YFI), and Uma (UMA). dYdX triggered its insurance fund…

Hashkey-Affiliated Wallet Sells Over $90 Million ETH In 10 Days

A wallet linked to Hong Kong-based crypto exchange Hashkey has reportedly sold over $90 million worth of Ethereum in the past 10 days. This massive selling activity appears to have triggered a slight decline in the ETH market, sparking speculations on the token’s price trajectory. Crypto Whale Conducts Massive Ethereum Sell-Off According to a Sunday post on X  by blockchain analytics platform, Lookonchain, a crypto wallet with the address “0xD26e ” sold off 50,115 ETH, valued at $97.7 million, within a period of 10 days. Lookonchain notes that this wallet…

3 crypto coins investors can consider in 2023 

After two years of declining prices, the crypto market appears to be recovering and bullish. Investors appear optimistic about the future of digital assets, and there is a growing sense that the next two years could see digital assets register more gains. However, not all coins are created equal. Still, selecting undervalued tokens has always been essential to successful investing. With that in mind, here are three coins that can grow in 2023 and beyond: Galaxy Fox: launching a play-to-earn platform Galaxy Fox has raised over $100,000 in its presale. …

Kronos Trading Firm suffers security breach, losses $25m

Taiwan-based trading firm Kronos Research recently suffered a major security breach, leading to estimated losses of $25 million. According to the company, the security breach involved the unauthorized access of API keys, leading to a loss of around 13,007 ETH, valued at $25 million at the time. Kronos disclosed the incident on Nov. 18 via a post on social media. In the interest of transparencyAround 4 hours ago, we experienced unauthorized access of some of our API keys. We paused all trading while we conduct an investigation. Potential losses are…

Crypto Analyst Predicts XRP Price Will Reach $1.35

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XRP  has experienced a small decline in value over the past few days, coinciding with a period of consolidation in the broader cryptocurrency market after four weeks of consecutive price increases. Although data from CoinMarketCap at the time of writing puts XRP being up by 1.78% in the past 24 hours, a larger seven-day timeframe shows it is still down by 8.68%. On the other hand, price metrics including open interest on futures contracts and a bullish divergence with the RSI indicate the potential for a significant increase in the…

Bitcoin might retest $40k, Rebel Satoshi and BNB prospects take center stage

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Rebel Satoshi aims to represent a rebellious, meme-centric future Experts are confident the SEC will approve several Bitcoin ETFs. BNB Chain tokens rallying Bitcoin (BTC) last retested $40,000 in April 2022. However, institutional curiosity may see prices return to this level in the coming sessions. Meanwhile, Rebel Satoshi (RBLZ) is launching with a rebel-themed meme coin.  Finally, BNB (BNB) is also growing as more tokens launch on its blockchain.  Experts expect SEC to approve first spot Bitcoin ETF Bitcoin’s recent surge in value has been attributed to growing institutional interest and…

Bitcoin nears pre-halving ‘target zone’ toward $50K BTC price

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Bitcoin (BTC) is nearing a key Fibonacci retracement level which could mark the top of its “pre-halving rally.” That is according to popular social media trader Titan of Crypto, who on Nov. 19 reiterated a pre-halving BTC price target of up to $50,000. Trader: $39,000 is pre-halving BTC price target range floor Bitcoin faces stiff resistance sliding back to the $40,000 mark; several attempts to crack it have failed in the past week. As Cointelegraph reported, the area immediately below also holds significance for aggregate market profitability, with $39,000 likely…

Cardano Founder Courts OpenAI’s Sam Altman, What Does He Want To Build?

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OpenAI recently announced a shocking leadership change with Sam Altman being ousted as CEO. After five years of being at the helm of taking OpenAI from a $0 to $80 billion valuation, the AI company is now at a crossroads with Altman departing and former Chief Technology Officer (CTO), Mira Murati taking over as interim CEO.  Altman hasn’t provided specifics of his next actions; however, he has posted on social media that he “will have more to say about what’s next later.” In light of this, Charles Hoskinson, the creator…

Rug Pull Rumors Swirl As Token Takes A 45% Hit

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Recent data analysis reveals a significant decline in the performance of YFI, the native token of the Yearn Finance platform. In a dramatic overnight development, the native token of the Yearn Finance ecosystem witnessed a staggering 40% plunge. This downturn in YFI’s performance prompts a closer examination of the intricate dynamics within the decentralized financial landscape. The abrupt and substantial drop has ignited a wave of speculation within the community, with some expressing concerns about the possibility of an exit scam. Much of its recent profits was wiped by the…