Month: June 2024

Crypto Trader Says Heโ€™s โ€˜Extremely Longโ€™ On Ethereum, Undeterred By Crash Below $3,400

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Crypto trader Duncan has explained why he is โ€œextremely longโ€ on Ethereum (ETH) despite the crypto tokenโ€™s recent drop to around $3,400. He emphasized the Spot Ethereum ETFs, which he believes could spark a significant rally for ETH. A โ€˜Significant Upside Repricingโ€™ Could Be On The Horizon ForTHEEthereum Duncan mentioned in an X (formerly Twitter) post that he believes that the market is way too bearish at the moment and that there could be a โ€œsignificant upside repricingโ€ for Ethereum if the Spot Ethereum ETF inflows are โ€œanything but horrible.โ€…

21shares Files to Launch Solana ETF With SEC

21shares has filed a registration statement for a solana exchange-traded fund (ETF) with the U.S. Securities and Exchange Commission (SEC). The ETF will trade on the Cboe BZX Exchange and will utilize Coinbase Custody Trust Company for secure custody of SOL. Vaneck also recently filed a registration statement with the SEC to launch a solana [โ€ฆ] Source BitcoincryptoexchangeExchanges CryptoX Portal

Solana (SOL) Surges 18%, But Watch Out For Crowd FOMO

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Solana has been showing a breakout over the last few days, but data shows crowd FOMO is rising, which could be a bad sign for the rally. Solana Social Volume Has Shot Up Alongside The Rally According to data from the on-chain analytics firm Santiment, the SOL social volume has observed a sharp increase following the recent recovery of cryptocurrency. The โ€œSocial Volumeโ€ here refers to an indicator that keeps track of the degree of discussion that any given asset receives on the major social media platforms. Related Reading This…

Billionaire Peter Thiel Remains a Bitcoin Holder but Questions Its Future Value

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According to American entrepreneur, venture capitalist, and political activist Peter Thiel, he still holds bitcoin (BTC) but is uncertain about the future value of the cryptocurrency. Peter Thiel Talks Bitcoin: A Holder With Cautious Optimism Peter Thiel, the renowned billionaire and co-founder of Paypal, Palantir Technologies, and Founders Fund, shared his thoughts on bitcoin (BTC) […] Original

U.S. Treasury Issues Crypto Tax Regime For 2025, Delays Rules for Non-Custodians

The IRS said it tried to avoid some burdens on users of stablecoins, especially when used to buy other tokens and in payments. Basically, a normal crypto investor and user who doesn’t earn more than $10,000 on stablecoins in a year is exempted from the reporting. Stablecoin sales โ€“ the most frequent in the crypto markets โ€“ will be tallied collectively in an “aggregated” report rather than as individual transactions, the agency said, though more sophisticated and high-volume stablecoin investors won’t qualify. The agency said that these tokens “unambiguously fall…

Solana ETF Approval Could Skyrocket SOL’s Value 9x Higher, Report Finds

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Leading asset manager and Bitcoin Exchange Traded Fund (ETF) issuer VanEck has officially filed a Spot Solana ETF with the US Securities and Exchange Commission (SEC), fueling bold growth predictions for the Solana ecosystem.ย  Market-making firm GSR Markets recently released a report shedding light on the potential impact of a Solana ETF and highlighting the platformโ€™s emergence as part of the โ€œBig Threeโ€ in the crypto space. Speculation Of A Solana ETF Approval GSRโ€™s report highlights Solanaโ€™s rapid rise within the cryptocurrency industry, positioning it as a major player alongside…

Barstoolโ€™s Dave Portnoy Plans Major BTC Buy if Price Drops to $40,000

American businessman Dave Portnoy, the founder and owner of Barstool Sports, announced that if bitcoin drops to the $40,000 range, he will invest $5-10 million worth of BTC using Barstool funds. Portnoy stated that while he personally owns BTC, he wouldnโ€™t use Barstool money to buy at the $60,000 level. Portnoyโ€™s Bitcoin Bet: Barstool Sports [โ€ฆ] Source CryptoX Portal

CleanSparkโ€™s acquisition of GRIID reiterates CLSK as a Buy

Analysts at H.C. Wainright are bullish on CleanSparkโ€™s most recent acquisition, projecting upside potential to $27. On Thursday, CleanSpark (CLSK) entered a definitive agreement to acquire GRIID Infrastructure (GRDI) in an all-stock deal valued at $155 million.ย  The final terms are still pending, but initial estimates by H.C. Wainright suggest CleanSpark might pay around $86 million, aligning with GRIIDโ€™s market cap as of June 27. This acquisition will require CleanSpark to issue 5.2 million shares, approximately 2.5% of its total shares, assuming a share price of $16.587. Analysts at H.C.…

Analyst Warns Of Bitcoin Breakdown Below Key Psychological Level, Says $40,000 Is Possible

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Bitcoin is at a crossroads after getting rejected at $62,000. Unsurprisingly, this has led to clashing sentiment in the market, with the bulls and bears engaged in an intense tug of war. But while bulls remains vocal, the bears have come out of the woodwork, leading to speculations that the price might actually be going much lower. Bitcoin To Succumb To Bearish Pressure Despite the 15% crash that has already rocked the Bitcoin price, crypto analyst DonAlt does not believe that the market has seen the worst of it yet.…