The U.S. House of Representatives has approved another piece of cryptocurrency legislation with a routine voice vote, though the bill to set up a government working group to assess how to keep bad actors from using digital assets isn’t likely to become a law as-is. Source
Representation of Ethereum, with its native cryptocurrency ether. Dado Ruvic | Reuters The Securities and Exchange Commission appears to have given the green light for exchange traded funds that hold ether, the world’s second-largest cryptocurrency. Trading is expected to begin as soon as Tuesday. Several fund issuers submitted additional registration statements on Monday afternoon, and exchanges have given notice that the funds will trade on Tuesday, indicating that the SEC has signed off on the funds. The regulator did not immediately respond to a request for comment from CNBC on…
Spot Ethereum Exchange-Traded Funds are set to debut on July 23, following the SEC’s rule change over two months ago. According to a report by Kaiko, the initial inflows to these Exchange-Traded Funds (ETFs) will most likely affect Ethereum’s (ETH) price. However, whether the effect will be positive or negative is still up for grabs. “The launch of the futures based ETH ETFs in the US late last year was met with underwhelming demand, said Will Cai, head of indices at Kaiko. “All eyes are on the spot ETFs’ launch…
Polygon (MATIC) appears to be underperforming compared to the broader market, where most of the attention is directed toward other major cryptocurrencies with larger market caps. Despite this subdued price movement, the Polygon network recently experienced a significant surge in activity, reaching its highest levels in over a year. This notable increase in activity is largely attributed to recent announcements concerning the migration of Polygon’s MATIC token to the new POL tokens. Polygon Network Activity Hits Yearly High According to on-chain data from Santiment, the participation of addresses on the…
The approval and beginning of trading of the spot bitcoin ETFs in January, which became the most successful launch in the history of exchange-traded products in terms of the speed of money rushing into them, pushed the price of the largest cryptocurrency up to new all-time highs after surging more than 58% within just two months. Source
Wintermute, a major market maker, sees ether ETFs collecting $4 billion, at most, of inflows from investors over the next year. That’s below the $4.5 billion to $6.5 billion expected by most analysts – and that latter number is already roughly 62% less than the $17 billion that bitcoin ETFs have so far collected since they began trading in the U.S. six months ago. Source
Ethereum is firm when writing, rapidly rising after slipping to around $2,800 earlier this month. As of writing, the second most valuable coin is up by over $24% and remains in an uptrend despite the scare of July 4 and 5. Ethereum Finds Strong Resistance At $3,500 Even as buyers expect ETH bulls to press on and push the coin above $3,700, a key resistance line, on-chain data shows that there is resistance. According to IntoTheBlock data on July 22, ETH has strong resistance at $3,500, which has been the…
In a recent weekly report by Input Output Global (IOG), the engineering development company behind Cardano (ADA), significant growth for the blockchain has been unveiled. The report highlights notable achievements in Total Value Locked (TVL), transactions and the increasing number of projects being built on the network. Thriving Cardano Ecosystem Per the report, Cardano has reached a milestone of 94 million transactions, showcasing the network’s growing adoption ahead of scheduled upgrades later this year. The report also discloses a TVL of 548.4 million in ADA, further emphasizing the network’s growth.…
The U.S. Securities and Exchange Commission (SEC) has announced an extension for its decision on proposed rule changes from various self-regulatory organizations regarding the listing and trading of options on trusts holding bitcoin. The organizations involved include Box Exchange LLC, Cboe Exchange Inc., Miax International Securities Exchange LLC, Miax Pearl LLC, Nasdaq ISE LLC, and […] Original
With audacious forecasts from experts predicting a significant price rise, Solana (SOL) is drawing interest from the cryptocurrency market. Solana, well-known for its scalable solutions and fast blockchain, is likely to have a breakthrough and maybe reach previously unheard-of levels. Related Reading Pennant Pattern Signals Bullish Continuation Ali Martinez, a well-known cryptocurrency and blockchain expert, has spotted on Solana’s weekly chart a so-called bull pennant shape. Often linked to positive arcs, this trend suggests that SOL may be getting ready for a big move up. When trend lines come together…