A new report by crypto exchange Bybit shows that meme coins are becoming significant components of crypto portfolios. Institutional meme coin holdings surged 226% from February to March while retail meme coin holdings spiked 478% from February to April. However, they “aggressively sold off” their meme coins when market sentiment soured. ‘We Saw a Large […] Source CryptoX Portal
The winds of change are blowing through the Ethereum ecosystem. Since the long-awaited approval of spot Ether ETFs in the US on May 23rd, a quiet exodus of Ether has been underway. A massive amount of the world’s second-largest cryptocurrency, or around $3 billion, has vanished from centralized exchanges, marking the lowest level of Ether reserves in years. This flight of the digital asset has analysts buzzing with the possibility of a supply squeeze, potentially propelling Ether to new heights. Related Reading Exodus To Self-Custody: A Bullish Signal? Crypto analyst…
Markets are nearing the official start of summer, but bitcoin may languish in June. The flagship cryptocurrency jumped 13% in May, according to Coin Metrics, its eighth monthly gain in the past nine months and its best month since February, when it soared 44%. That’s thanks to last week’s ether-led rally ahead of the SEC’s approval of a rule change allowing ether ETFs in the U.S., when ether surged 20% in two days. Now, aspiring sponsors of ether ETFs need to file their S-1 registration forms for the individual funds.…
Data shows the investors in the Ethereum derivatives market have been taking on very high leverage recently, something that could lead to volatility for the asset. Ethereum Estimated Leverage Ratio Has Been At Extreme Levels Recently As pointed out by an analyst in a CryptoQuant Quicktake post, the ETH Estimated Leverage Ratio has been on the up recently. The “Estimated Leverage Ratio” (ELR) refers to an indicator that keeps track of the ratio between the Ethereum Open Interest and Exchange Reserve. The former of these, the Open Interest, here is…
Solana (SOL) is rapidly gaining the attention of institutional investors, who are increasingly showing a strong interest in this crypto token. This trend underscores the possibility that Solana could be the next in line to launch its Spot ETF, a development that could significantly impact the crypto token’s price. Solana Investment Funds Record Year-To-Date Inflows Of $29 Million According to CoinShares’ latest weekly report, Solana investment products currently boast a year-to-date (YTD) net inflows of $29 million. Last week, these funds saw net inflows of $8 million. Meanwhile, these Solana…
Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only. The WienerAI (WAI) presale has recently surpassed the $3 million total raised mark as interest in its novel use case ramp-ups. But for those familiar with crypto’s current market dynamics, the project’s unwavering support will be no surprise. Let’s take a look at why this AI meme coin project is in such high demand. Meme coin meets AI trading bot – the ultimate crypto narrative of 2024 The essence…
According to a recent survey by Preply, as many as three in five, or 60%, of U.S. cryptocurrency investors do not understand blockchain technology. The study found that Generation Z, despite 41% expressing interest in learning about cryptocurrency, had the smallest percentage of individuals willing to learn. The report also noted that U.S. residents who […] Source CryptoX Portal
Bitcoin has dropped from its weekly high of $71,980, recorded on May 21, to as low as $67,000, raising concerns amongst crypto investors. However, crypto analyst Jelle has suggested that there is no need to be worried about the flagship crypto’s price action. Why Investors Shouldn’t Be Worried About The Bitcoin Price Jelle noted in an X (formerly Twitter) post that Bitcoin is still following a “similar path” to the 2017 bull run. He claimed that once the crypto token breaks again above the 2021 all-time high ($69,000), it will…
The Reserve Bank of India (RBI)’s May 2024 bulletin warns retail investors that “the crypto ecosystem lacks accountability and stability and is marked by regulatory ambiguity.” The Indian central bank also cautioned that some cryptocurrency systems may be “prone to crisis without safeguards.” RBI Bulletin’s Crypto and Defi Warnings India’s central bank, the Reserve Bank […] Source CryptoX Portal
Institutional investors are doubling their bets on Bitcoin, with investment funds related to the flagship crypto recording massive inflows last week. This development signals a bullish sentiment among these investors which could trigger a Bitcoin rally to $80,000. Bitcoin Investment Funds Record $942 Million In Inflows According to CoinShares’ latest weekly report, Bitcoin investment products recorded a net inflow of $942 million. These inflows are said to have been “an immediate response to the lower-than-expected CPI report on Wednesday,” with 89% of the total flows coming in the latter three…