Most Ether ETFs were in the green during the Wednesday U.S. trading session, but Grayscale’s converted Ethereum Trust ETF posted a net outflow of over $800 million. Source
Ether Down Over 7.5% as ETHE Outflows Ramp Up
Month: July 2024
CME’s Ether Futures Record Highest Ever Open Interest of 383K ETH ($1.4B) After ETF Debut
The so-called open interest or the number of active bets in standard ether futures rose to a record of 7,661 contracts, equaling 383,650 ETH and $1.4 billion in notional terms, the exchange said in an email to CoinDesk. The previous peak of 7,550 contracts was set one month ago. The standard contract is sized at 50 ETH. Source
ETH Whale Activity 64% More Than BTC
On-chain data shows whale activity on the Ethereum blockchain has been quite high recently due to the excitement around the spot exchange-traded funds (ETFs). Ethereum Whales Showing Significantly Higher Activity Than Bitcoin Ones According to data from the on-chain analytics firm Santiment, Ethereum whales have been displaying considerable activity recently. The indicator of relevance here is the “Whale Transaction Count,” which keeps track of the total amount of transfers happening on any given network carrying a value of at least $100,000. Related Reading Transfers exceeding this amount are generally associated…
Cardano (ADA) Falls: Ethereum’s Decline Pulls Altcoins Down
Cardano price started a fresh decline below the $0.4120 support. Ethereum’s decline seems to be dragging ADA lower toward the $0.380 support. ADA price started a fresh decline from the $0.450 resistance zone. The price is trading below $0.4120 and the 100-hourly simple moving average. There is a key bearish trend line forming with resistance at $0.4060 on the hourly chart of the ADA/USD pair (data source from Kraken). The pair could continue to move down and test the $0.380 support zone. Cardano Price Shows Signs of More Downsides After…
Giesecke+Devrient: Ghana CBDC Nullifies the Need for Multiple Intermediaries in Cross-Border Payments
The recently completed proof of concept by the Bank of Ghana and the Monetary Authority of Singapore demonstrated that the latter’s central bank digital currency enables cross-border payments, excluding many intermediaries and associated costs. Giesecke+Devrient (G+D) stated that the proof of concept (POC) demonstrated the effectiveness of utilizing digital credentials for international trade and cross-border […] Source CryptoX Portal
Bitcoin Traders Brace for Impact: QCP Capital Signals Incoming Price Drop—Here’s Why
Recent analysis from QCP Capital indicates a marked shift in derivatives market sentiment, signaling that options traders are bracing for further declines in Bitcoin value. Dissecting the Bearish Sentiment The derivatives market has experienced a notable shift over the past day, with the implied volatility in Bitcoin options decreasing. This indicates that traders are worrying more about the possible downside risks. According to a note from analysts at QCP Capital, the spread between call and put options has tightened by three volatility points. QCP Capital noted: While spot prices remain…
XRP Maintains Support: Can It Rise Amid BTC and ETH Declines?
XRP price extended gains above the $0.6220 zone. The price tested the $0.6330 zone before there was a pullback amid declines in BTC and ETH. XRP price started a downside correction from the $0.6330 zone. The price is now trading near $0.600 and the 100-hourly Simple Moving Average. There is a connecting bullish trend line forming with support at $0.5920 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair could start another increase if it stays above the $0.590 support zone. XRP Price Holds Uptrend…
Hong Kong Launches Its First Inverse Bitcoin ETF Product
CSOP Asset Management, a regulated asset management company, has become the first to launch an inverse Bitcoin ETF in Hong Kong’s markets. This allows traders and investors to speculate on the decline of the cryptocurrency’s value. The product complements other ETF products already available, further establishing the city as an international crypto market. CSOP Asset […] Original
How Kamala Harris can rebuild crypto bridges burned by Biden
Can Kamala Harris bridge the gap between the Democratic Party and the crypto world after Joe Biden’s impact? Read how. Lately, there have been some key developments in the U.S. political arena that are worth noting. After Joe Biden abruptly decided to leave the presidential race and endorsed Kamala Harris, she quickly gained the support of her party’s donors, elected officials, and other leaders. An Associated Press survey indicates that Harris now appears to have the backing of about 3,107 delegates, well above the 1,976 needed to claim the nomination. …
Majority of Americans Believe US in Recession, Survey Shows
New research by Affirm reveals three in five Americans believe the U.S. is in a recession, though it’s not officially declared. A survey of 2,000 people shows inflation and rising living costs (68%) as the main reasons for this belief, followed by complaints from friends and family (50%), reduced spending by peers (36%), and difficulties […] Source CryptoX Portal