Day: August 24, 2024

Here’s why Ethereum ETF inflows are lagging behind Bitcoin

boss

Spot Ethereum exchange-traded funds, or ETFs, had seven consecutive days of outflows shedding over $5.7 million in assets on Friday, Aug. 23, bringing the cumulative figure to $464 million, data by SoSoValue shows. Cumulative net assets locked in these Ethereum (ETH) ETFs stand at about $7.65 billion. The Grayscale Ethereum Trust has $5 billion followed by the Grayscale Mini Ethereum Trust with $1.01 billion. It is followed by ETFs from Blackrock, Fidelity, Bitwise, and VanEck. Institutional investors reluctance In a note to Bloomberg, crypto analyst Noelle Acheson noted that many…

Wazirx Defends Restructuring Decision — Founder Assures ‘Not Bankruptcy or Liquidation’

Indian crypto exchange Wazirx has defended its restructuring strategy in response to the July 18 cyberattack that led to the theft of over $230 million. The company emphasized that this approach is the quickest and most legally sound way to address these challenges. “This is not bankruptcy or liquidation since that will take several years,” […] Source CryptoX Portal

300,000 Ethereum Transfer Sparks Shock At Leading US Exchange

boss

In a new development that is creating ripples in the cryptocurrency space, Whale Alert, one of the top blockchain trackers, has detected two huge Ethereum (ETH) transfers heading to Coinbase. Each transfer involved 150,000 ETH, totaling a staggering 300,000 ETH at nearly $395 million. These transactions were carried out consecutively. Related Reading Ethereum: Market Reaction And Speculation Big movements typically spark speculation. Large cryptocurrency flows into Coinbase mean the sender may be selling. Increasing availability could lower market prices. Despite Ethereum’s 3.25% 24-hour increase, huge transactions keep traders apprehensive. 🚨…

Judge Denies Kraken’s Request To Dismiss SEC Claims Alleging the Exchange Operated As Unregistered Securities Broker

boss

A judge shot down Kraken’s request to dismiss claims made by the U.S. Securities and Exchange Commission (SEC) alleging the exchange violated securities laws. Last November, the SEC charged Kraken with operating its crypto trading platform as an unregistered securities exchange, broker, dealer and clearing agency. Earlier this year, Kraken filed in US District Court to dismiss those charges, positing that the SEC’s claims would widen the definition of investment contracts and expand the regulator’s jurisdiction outside of its delegated responsibility. On Friday, US District Judge William H. Orrick denied the…

NFT Sales Soar 24% as Ethereum Takes the Lead This Week

Based on the metrics collected from Aug. 17 to Aug. 24, 2024, the non-fungible token (NFT) market experienced a lively 24.33% boost in sales compared to the previous week. Sales reached an impressive $99.05 million, with Ethereum-based NFTs leading the charge at $36.62 million. NFT Market Booms With Ethereum at the Helm Reaching $99M in […] Source CryptoX Portal

Altcoins SATS, Dogwifhat, FET and Bonk spike as Bitcoin breaks $64K

boss

Altcoins SATS, dogwifhat, FET, and Bonk have all surged over 10% over the past day to rank as the top gainers in the crypto market, as Bitcoin, the leading cryptocurrency by market cap, jumped over $64,000 in the same timeframe. SATS SATS (SATS) led the charge among the top gainers on Aug. 24. At last check, the crypto asset was still up 29% in the previous 24 hours, trading at $0.0000004. SATS’s daily trading volume was also up, hovering around $171.3 million. The token’s market cap now stands at $847.5…

Solana outpaces Bitcoin, Ethereum; broader market gains 3.6%

boss

The broader crypto market has seen its value grow by 3.6%. Solana leads the push among high market-cap cryptocurrencies after registering a 10.2% uptick in the last 24 hours. Data from crypto.news shows that, at last check, Solana (SOL) was priced at $158.25. It spent the previous day oscillating between a low of $142.78 and a high of $158.58.  Solana price chart, May 1 – Aug. 24 | Source: crypto.news The uptick in the coin’s price was accompanied by a 24-hour trading volume of $4 billion occasioned by more than…

Ethereum Foundation Transfers 95 Million ETH, Price Rally To Stall?

boss

Semilore Faleti is a cryptocurrency writer specialized in the field of journalism and content creation. While he started out writing on several subjects, Semilore soon found a knack for cracking down on the complexities and intricacies in the intriguing world of blockchains and cryptocurrency. Semilore is drawn to the efficiency of digital assets in terms of storing, and transferring value. He is a staunch advocate for the adoption of cryptocurrency as he believes it can improve the digitalization and transparency of the existing financial systems. In two years of active…

Floki Has ‘More Room To Climb,’ Targets 96% Rally

boss

Crypto analyst Javon Marks has just highlighted FLOKI as a digital asset that could register an impressive growth. In a post on X, Marks noted that if FLOKI confirms a so-called Hidden Bull Divergence, gains of over 96% can be expected. Related Reading This technical pattern implies an upsurge once the FLOKI breaks above $0.000276 resistance. If level breaks up, Marks thinks FLOKI may rise to $0.000546, and with “more room to climb.” That is an overall optimistic view, which aligns with a more comprehensive view given by crypto price…