Month: April 2024

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…

Analyst Foresees Peak In Late 2025

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Following the fourth Bitcoin Halving, Rekt Capital, a popular cryptocurrency trader and expert, has offered a compelling narrative on the future trajectory of Bitcoin, predicting that the crypto asset could peak this bull cycle in the following year. Rekt Capital’s analysis emphasizes on the possibility that this current cycle could reiterate past Halving cycle trends, positioning BTC for significant gains in the coming months. Bitcoin Could Mirror Past Halving Cycle According to the analyst, Bitcoin reached its all-time high within 518 days following the Halving in the 2015–2017 cycle. Meanwhile,…

The Four Biggest Risks in Modern DeFi

You might have heard the doomsday analyses comparing the most successful protocols of this wave, like Ethena or Eigen Layer LRTs, with risk management disasters like Terra, without really providing any credible evidence of the parallels. Fact is, this new generation of fast-growing DeFi protocols is much more mature and a lot of thought has gone into risk management. However, there is still plenty of risk. Source

Will This Spark A Surge In Network Activity?

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Ethereum, the world’s second-largest cryptocurrency by market capitalization, has seen a dramatic drop in transaction fees, according to a recent analysis by Santiment, a prominent crypto analytics platform. The report indicates that the average Ethereum transaction fee has plunged to a mere $1.12, marking the lowest daily average cost since October 18th, 2023. Ethereum Transaction Fees: A Window Into Market Sentiment This significant decrease in transaction fees has sparked discussions among crypto enthusiasts and analysts alike. Santiment’s analysis suggests a strong correlation between transaction fees and the overall sentiment within…

CryptoQuant Analyst Reveals Signal That Shows Bitcoin Is Still Very Bullish

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The Bitcoin price movement in the past few days after the halving event has left many investors wanting. Particularly, price data shows the crypto failed to settle above $65,000 las week. At the time of writing, Bitcoin is trading at $62,105, down by 2.96% and 6.14% in the past 24 hours and seven days, respectively.  According to a CryptoQuant analyst, Bitcoin’s Adjusted Spent Output Profit Ratio (aSOPR) is still looking bullish, which could be a faint signal of the crypto’s price reversing into bullish momentum. Current State Of Bitcoin As…

Ethereum Technical Analysis: ETH’s Consolidation Phase Highlights Potential Downward Trajectory

As ethereum continues its price fluctuations, technical indicators on the 1-hour, 4-hour, and daily charts suggest a bearish outlook with mixed trading signals. Despite some bullish undercurrents, the predominant sentiment remains cautious. Ethereum Ethereum’s (ETH) price action has shown a downward trend on the 1-hour chart, marked by a series of lower highs and lower […] Source CryptoX Portal