Day: April 29, 2024

Bitcoin (BTC) and Ether (ETH) ETFs Launch in Hong Kong Tuesday: Interview With Key Executives

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Zhu Haokang : Based on the analysis of various factors, we believe that cryptocurrency ETFs will be beneficial to cryptocurrency prices. First, Hong Kong’s crypto spot ETF market injects more liquidity into the crypto market. Second, accelerate the compliance of the industry. Third, funding channels have been expanded. Fourth, investors may obtain arbitrage opportunities between ETF prices and spot prices, allowing more market makers and arbitrage investors to actively participate. Fifth, with the passage of our crypto spot ETF, trading factors in traditional markets will also directly affect the cryptocurrency…

This Bitcoin Metric Foreshadowed Recent Price Drops, Quant Reveals

A quant has pointed out how a Bitcoin metric may have detected selling pressure in the market, and therefore, the subsequent price drops, in advance. Bitcoin CDD Registered Spikes Before Recent Price Plunges In a new post on X, an analyst has discussed about how the Coin Days Destroyed (CDD) on-chain indicator may be used to identify selling pressure in the market early. A “coin day” refers to the quantity that 1 BTC accumulates after staying still on the blockchain for 1 day. When a token stays dormant for a…

Hong Kong anticipates Bitcoin, Ethereum ETFs surpassing US in 1st-day trading volume

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Hong Kong is set to launch new Bitcoin and Ethereum ETFs tomorrow at 9:30 a.m. EDT, with an expected larger initial trading volume than in the United States. “I am very confident that the trading scale of the Hong Kong virtual asset spot ETF on the first day of listing can exceed that of the United States,” said Zhu Haokang, head of digital asset management and family wealth at Huaxia. The U.S. saw a first-day trading volume of $125 million across ten Bitcoin spot ETF issuers earlier this year, a…

GBTC Reserves Dip Below 300,000 BTC Amidst 3 Weeks of Crypto Fund Outflows

Grayscale’s Bitcoin Trust (GBTC) has witnessed a significant reduction in assets under management, with the trust’s holdings now falling below the 300,000 BTC mark, a key milestone. Additionally, the latest report on digital asset fund flows from Coinshares shows that bitcoin and ether exchange-traded products (ETPs) have seen withdrawals for three consecutive weeks. Heavy Withdrawals […] Source CryptoX Portal

Crypto Analyst Says Altcoins Are About To Enter A Parabolic Curve, Here’s Why

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Expectations for the crypto industry are still high, and altcoins, in particular, are expected to do well. One crypto analyst known as El Crypto Prof on X (formerly Twitter), shares this sentiment, expecting the altcoin market to go on a parabolic rally. Altcoins Are Set To Explode In a post on X (formerly Twitter), the crypto analyst highlighted why the altcoins market was said to explode. The chart attached to the post showed previous bull cycles for the crypto market and why the current muted performance from the market was…

Crypto investment outflows reach 3-week streak with $435m

As Bitcoin fell more than 5% last week, crypto investors continued capital withdrawals from virtual asset vehicles like spot exchange-traded funds.  According to CoinShares, outflows from digital asset investment products amounted to $435 million, coinciding with a 6% drop in ETF trading volume. Activity reduced from over $18 billion two weeks ago to $11.8 billion last week.  Bitcoin (BTC) and Ethereum (ETH) comprised the lion’s share of exits, with $423 million and $38 million, respectively. The bulk of this pattern, primarily found in BTC, was recorded in the U.S. and…

MetaWin Founder Launches $ROCKY Meme Coin on Base Network – Blockchain News, Opinion, TV and Jobs

London, United Kingdom, April 29th, 2024, Chainwire An exciting new meme coin, $ROCKY, has recently debuted on the Base network. Skel.eth, the founder of MetaWin, launched the coin last weekend. Intriguingly, the coin is named after his Pomeranian, also named ROCKY. Within just 30 hours of its release, $ROCKY achieved an impressive market cap of $4.6 million, and the MetaWin team is optimistic about further growth, fueled by the enthusiastic support of the MetaWin community. “I launched it as an experiment ahead of our $MWIN token sale,” said Skel.eth, the…

Consensys Takes Legal Action Against SEC to Safeguard U.S. Ethereum Community – Blockchain News, Opinion, TV and Jobs

In a bold move to protect the interests of the U.S. Ethereum community, Consensys has filed a lawsuit against the U.S. Securities and Exchange Commission (SEC). This legal action comes in response to the SEC’s looming regulatory stance on ether, which threatens to classify it as a security. Such a classification could not only disrupt digital asset trading but also impede the nation’s utilization of Ethereum and analogous blockchain technologies. The ramifications of this regulatory shift extend far beyond the realm of cryptocurrency trading. They pose a significant threat to…