Month: April 2024

Ethereum Flashes Bullish Signals, Can It Rally 50% From Here?

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The second-largest crypto token by market cap, Ethereum (ETH), finally showed some form of life as it rose to $3,300 over the weekend. This move is believed to be the beginning of a trend reversal for the crypto token, which has several bullish signals on its chart.  Ethereum Has A Bullish Chart Crypto analyst Derek revealed in an X (formerly Twitter) post that the signals on Ethereum’s Moving Average Convergence/Divergence (MACD) indicator “seem to have ended the decline and changed upward direction.” He also highlighted the Ethereum Dominance chart, which…

Ripple CTO And Cardano Founder Debate ETH Gate

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Over the weekend, the conversation about the ETH Gate theories started again after the news of the Consensys lawsuit against the US Securities and Exchange Commission (SEC). The discussion intensified following the Ripple CTO David Schwartz and Cardano Founder Charles Hoskinson’s debate on X. Is There A Double Standard For Ethereum? On Thursday, crypto firm Consensys sued the US SEC, accusing the regulator of “unlawful seizure of authority” over Ethereum. Following the news, an online conversation sparked regarding the SEC’s alleged favoring of the second-largest cryptocurrency by market capitalization. X…

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…