Shiba Inu sees rising on-chain activity, but market imbalance may threaten breakout hopes.
Get ready, crypto traders! A significant announcement from Coinbase International Exchange is set to expand the trading landscape. On April 24th, Coinbase is launching perpetual futures for Initia (INIT), bringing this promising asset into the accessible world of derivatives trading on one of the industry’s leading platforms. What Does the Coinbase Perpetual Futures Launch Mean for Traders? The introduction of perpetual futures contracts on a platform like Coinbase International Exchange is a big deal. Perpetual futures are a type of crypto derivatives that allow traders to speculate on the future price of an asset without needing to hold the underlying asset itself. Unlike traditional futures, they don’t have an expiry date, hence the name ‘perpetual’. For users of Coinbase International and Coinbase Advanced, this means a new avenue to engage with the Initia token. The specific contract, known as INIT-PERP, will become available for trading on or after 15:00 UTC on April 24th. This adds to the growing list of assets available for derivatives trading on Coinbase’s platforms, signaling their continued expansion in this market segment. Key Aspects of the Launch: Platform: Coinbase International Exchange and Coinbase Advanced. Asset: Initia (INIT). Contract Type: Perpetual Futures (INIT-PERP). Launch Date/Time: On or after 15:00 UTC on April 24th. Significance: Increases accessibility and trading options for INIT. Diving into INIT Perpetual Futures : What Opportunities and Risks? Trading INIT perpetual futures offers several potential advantages, primarily centered around flexibility and leverage. Traders can take long or short positions on Initia, profiting from both upward and downward price movements. The perpetual nature means you can hold a position for as long as you wish, provided you meet margin requirements. Potential Benefits: Leverage: Amplify potential gains with a smaller capital outlay (though this also amplifies losses). Short Selling: Profit from anticipated price declines in INIT. Hedging: Existing INIT holders can use perpetual futures to hedge against potential price drops. 24/7 Trading: Like spot crypto markets, perpetual futures trade around the clock. However, it’s crucial to understand the inherent risks associated with perpetual futures, especially on a volatile asset like Initia crypto . Potential Challenges & Risks: Liquidation Risk: Leverage increases the risk of your position being automatically closed (liquidated) if the market moves against you. Funding Rates: Perpetual futures use funding rates to peg the contract price to the spot price. These can be positive or negative, potentially costing traders money, especially during volatile periods. Complexity: Understanding margin, leverage, and funding rates is essential and requires more knowledge than simple spot trading. Market Volatility: Rapid price swings can lead to quick and substantial losses. Engaging with INIT perpetual futures requires careful consideration and a robust risk management strategy. Start with a small amount, understand how leverage and margin work, and be aware of the funding rate mechanism. Understanding Initia Crypto : The Project Behind the Token While the announcement focuses on the trading instrument, it’s important to know the underlying asset. Initia is a project aiming to build a network of interconnected blockchains using a modular framework. Their goal is to simplify the process of launching application-specific blockchains (appchains) and foster seamless communication and interaction between them. The INIT token is the native asset of the Initia network. Its utility within the ecosystem typically involves governance, staking, and potentially powering transactions or interactions across the interconnected chains. The performance and adoption of the Initia network will naturally influence the price of the Initia crypto token, which in turn affects the dynamics of the perpetual futures contract. Traders interested in INIT-PERP should ideally have some understanding of the Initia project’s fundamentals, roadmap, and market position, as these factors can significantly impact price movements. The Growing Importance of Crypto Derivatives The launch of INIT perpetual futures on Coinbase highlights a broader trend in the cryptocurrency market: the increasing maturity and popularity of crypto derivatives. These instruments provide sophisticated tools for price discovery, risk management (hedging), and speculation. Major exchanges like Coinbase are expanding their derivatives offerings to meet growing institutional and retail demand for these products. This expansion is often seen as a sign of the market’s evolution, offering more ways for participants to engage beyond simple spot buying and selling. While derivatives offer powerful capabilities, they are also associated with higher risk, especially when leverage is involved. Regulatory scrutiny around crypto derivatives is also increasing globally, which is a factor market participants should monitor. Getting Ready for Coinbase Trading of INIT-PERP: Actionable Insights If you plan to participate in Coinbase trading of INIT perpetual futures, here are a few actionable steps and considerations: Ensure Account Access: Make sure you have an account on either Coinbase International Exchange or Coinbase Advanced, as these are the platforms hosting the INIT-PERP contract. These platforms may have geographical restrictions. Understand the Contract Details: Before trading, review the specific contract specifications for INIT-PERP on Coinbase’s platform. Pay attention to margin requirements, leverage options, and funding rate calculation methods. Develop a Trading Plan: Define your entry and exit strategies, risk tolerance, and position sizing. Avoid trading based on emotion. Implement Risk Management: Use tools like stop-loss orders to limit potential losses. Never risk more capital than you can afford to lose. Stay Informed: Keep up with news related to Initia, Coinbase, and the broader crypto market, as these can impact price volatility. The launch on April 24th opens a new door for traders looking to add INIT perpetuals to their strategy. Approaching it with preparation and caution is key. Conclusion Coinbase International’s decision to list INIT perpetual futures marks another step in the expansion of crypto derivatives offerings on mainstream platforms. This provides traders with new opportunities to speculate on or hedge against the price movements of the Initia crypto token. While the availability of INIT perpetual futures on a platform like Coinbase offers benefits like potential liquidity and familiar interface for existing users, the inherent risks of trading leveraged crypto derivatives must not be underestimated. As Coinbase trading options grow, so does the need for informed decision-making and diligent risk management. The April 24th launch date is one to note for those interested in exploring the potential of INIT-PERP. To learn more about the latest crypto derivatives trends, explore our article on key developments shaping Coinbase trading opportunities.
Capital poured into US-listed Bitcoin exchange-traded funds this week, with Tuesday alone witnessing nearly $1 billion in fresh cash. The rush propelled weekly inflows to $1.2 billion and total assets under management (AUM) to $103 billion, based on Bloomberg data. The investment deluge occurred while Bitcoin’s price rose above $93,000, reaching $93,700 – its highest since early March. Related Reading: Bitcoin Rockets To Monthly Highs As Open Interest Explodes By Over $3 Billion BlackRock Fund Remains Top Dog Among Rivals BlackRock’s iShares Bitcoin Trust (IBIT) remains at the forefront with year-to-date inflows of $2.7 billion. The fund took in another $346 million last week alone. Ark Invest’s ARKB and Grayscale’s Bitcoin funds lag behind with significantly smaller year-to-date inflows of $410.41 million and $385.31 million. Not everything is coming up roses, however. Grayscale’s GBTC has seen $1.18 billion of outflows since January, going against the overall positive tide. The spot bitcoin ETFs went Pac-Man mode yesterday, +$936m, $1.2b for week. Also notable is 10 of 11 of the originals all took in cash too. Good sign to see flow depth vs say $IBIT doing 90% of the lifting. Price up $93.5k. Pretty strong all things considered IMO. pic.twitter.com/HeLwffgT8F — Eric Balchunas (@EricBalchunas) April 23, 2025 Increasing Institutional Confidence Reflected In Broad Participation Ten of 11 spot Bitcoin ETFs saw inflows of fresh funds this week, Bloomberg senior ETF analyst Eric Balchunas reported. They’re going “Pac-Man mode”, the analyst said on X. That broad-based involvement indicates institutional players are diversifying their bets into several funds rather than focusing on one or two. The value traded across all Bitcoin spot ETFs totaled $496 million, while net assets in them now represent nearly $57 billion – equivalent to around 2.80% of Ethereum’s market cap. Ethereum Products Keep Losing Streak While XRP Shocks As Bitcoin-linked investments thrive, Ethereum products simply can’t seem to get a break. According to reports from CoinShares, investment products centered around Ethereum lost yet another $26.7 million last week. This takes their eight-week outflow amount to a mind-boggling $772 million. Even in the face of this continued outflow, Ethereum remains in second place for year-to-date inflows at $215 million. Short Bitcoin Products Under Ongoing Pressure Short Bitcoin products are experiencing the squeeze. Short BTC products had their seventh consecutive week of outflows, with $1.2 million exiting these funds. CoinShares data show that these short bets have now lost $36 million over seven weeks – 40% of their assets under management. The ongoing outflows from short positions are consistent with Bitcoin’s recent price strength. Related Reading: No Crown Yet? Bitcoin Needs To Prove Itself One Win At A Time—Analyst XRP is the only exception among alternative coins, and its investment products attracted over $37 million last week, the third highest for year-to-date inflows on $214 million. This defies the trend observed in most of the other altcoins, which still face selling pressure. Certainly, all of this new money being poured into Bitcoin ETF investments is perhaps the clearest sign yet that traditional financial institutions are coming around to cryptocurrency as an asset class. We’re talking almost $1 billion coming into the market in just one day: this looks like the dawn of a new era in which acceptance of the asset class by the mainstream is even greater. Featured image from Wallpapers.com, chart from TradingView
The US Federal Reserve has announced it would withdraw guidance for banks engaging in crypto asset and stablecoin-related activities. ”The Board is rescinding its 2022 supervisory letter establishing an expectation that state member banks provide advance notification of planned or current crypto-asset activities,” the Board of Governors of the Federal Reserve explained in an April 24 statement. Any crypto-related activities will now be monitored through the Federal Reserve’s normal supervisory process, it said. The Federal Reserve is also rescinding its 2023 supervisory letter that impacted how state banks could engage in stablecoin activities. This is a developing story, and further information will be added as it becomes available.
Exciting news is buzzing in the decentralized finance (DeFi) world! DeFi protocol Theo has successfully closed a significant funding round, injecting substantial capital into its development plans. This latest crypto funding highlights continued confidence in the potential of innovative DeFi protocols . What is DeFi Protocol Theo? While specific details about DeFi protocol Theo ‘s exact services are emerging, its classification as a “DeFi protocol” places it within the burgeoning ecosystem of financial applications built on blockchain technology. These protocols aim to recreate traditional financial services – like lending, borrowing, and trading – in a decentralized, permissionless manner. Funding rounds like this are crucial for DeFi protocols to build robust, secure, and user-friendly platforms. Inside the Impressive $15.5M Seed Round Theo protocol didn’t just raise funds; it secured a substantial $15.5 million in its second seed round . This isn’t Theo’s first rodeo in seeking external investment, indicating previous progress and investor belief in its trajectory. A seed round is typically one of the earliest stages of funding for a startup, used to get the business off the ground or develop the initial product. A second seed round often signifies accelerated growth or expansion plans beyond the initial concept. Who’s Powering This Crypto Investment? The list of investors in Theo protocol ‘s $15.5 million seed round is particularly noteworthy. The round was co-led by prominent venture capital firms Hack VC and Anthos Capital . What makes this round stand out is the diverse group of participants, bridging the gap between the native crypto world and traditional finance: Crypto-Native / FinTech: Hack VC, Anthos Capital, Flowdesk, Selini Capital Traditional Finance (TradFi): Citadel, JPMorgan, Jane Street, Optiver The inclusion of major Wall Street players like JPMorgan, Citadel, Jane Street, and Optiver alongside crypto-focused VCs and trading firms like Flowdesk and Selini Capital signals growing institutional interest and validation for promising DeFi protocols like Theo. This blend of investors brings diverse expertise and networks to the table, potentially boosting Theo’s standing and reach within the crypto investment landscape. How Will This Significant Crypto Funding Be Utilized? According to the report, the primary purpose of the $15.5 million in crypto funding raised is to support service development . In the context of a DeFi protocol , this could encompass several critical areas: Building out Core Features: Developing new functionalities or refining existing ones within the protocol. Scaling Infrastructure: Enhancing the underlying technology to handle more users and transactions securely and efficiently. Security Audits & Measures: Investing heavily in security, which is paramount for DeFi protocols to protect user funds and maintain trust. Team Expansion: Hiring engineers, researchers, and business development professionals to accelerate growth. Regulatory Compliance: Navigating the complex and evolving regulatory landscape for decentralized finance. This focus on development is crucial for Theo protocol to innovate and compete in the fast-paced DeFi landscape, leveraging this significant seed round investment. What Does This Seed Round Mean for the DeFi Landscape? Theo’s successful $15.5 million seed round is more than just news for one protocol; it’s a positive indicator for the broader DeFi market . It demonstrates that despite market fluctuations, significant capital is still flowing into projects deemed to have strong potential. The participation of major TradFi firms suggests increasing institutional confidence and willingness to explore and invest in decentralized technologies. This type of crypto investment can fuel innovation, improve the robustness of protocols, and potentially accelerate mainstream adoption of DeFi services. In summary, DeFi protocol Theo ‘s successful $15.5 million second seed round , backed by a powerful mix of crypto-native and traditional finance investors including Hack VC, Anthos Capital, Citadel, and JPMorgan, marks a significant milestone. This substantial crypto funding is earmarked for crucial service development, positioning Theo protocol for potential growth and innovation within the dynamic DeFi market. It underscores the continued flow of crypto investment into promising decentralized finance projects and the increasing convergence of traditional and crypto capital. To learn more about the latest crypto market trends and DeFi protocols , explore our articles on key developments shaping crypto funding and DeFi investment .
Hugh Austin, a crypto fraudster behind a crypto scam who allegedly involved his own son in a $12 million laundering scheme, has been sentenced to nearly two decades in prison for orchestrating the affair. $12 Million In Investor Funds Drained In Scheme According to an April 23 press release from the U.S. Attorney’s Office, Austin and his son Brandon fraudulently operated as crypto brokers for large sums of digital assets in a crypto scam and made short-term crypto investments in hopes of securing high returns for entrepreneurs and investors. Father-Son Duo Implicated in $12M #Crypto Scheme, Long Island Man Sentenced to 18 Years ! Eugene William Austin Jr., aka Hugh Austin, has been sentenced to 18 years in prison for leading a $12 million crypto scam with his son, Brandon, defrauding over two dozen victims.… pic.twitter.com/k4OBUJrekM — Altcoin Alerts (@Altcoin_Alerts) April 24, 2025 The father-son duo, who often requested loans from friends and associates while vowing to return them with interest, also looked for high-net-worth people to provide investments for small businesses and startups. In reality, the Austins allegedly misappropriated investor funds in their crypto scam, spending on luxury hotels, flights, restaurants and more while making “nominal payments to victims to prolong the scheme.” “For years, Hugh Austin was the leader of a fraud and money laundering scheme that stole more than $12 million from more than two dozen victims,” said Jay Clayton, United States Attorney for the Southern District of New York. “Austin involved his own son in his crimes, working with him to rip off victims and spending investor money on personal expenses, like luxury hotels,” he added. “Thanks to the work of the career prosecutors of this Office and our law enforcement partners, Austin will now be held accountable for the harm he caused to individual investors and others.” Father-Son Duo Gets Jail Time In addition to prison time, the elder Austin has been sentenced to three years of supervised release and pay to over $18 million in restitution and forfeiture. Brandon Austin was previously sentenced to four years behind bars for his role in the digital asset scheme . Brandon is currently serving his sentence at Lewisburg Federal Correctional Institution, while Hugh Austin is expected to carry out the remainder of his sentence at Brooklyn Metropolitan Detention Center. The post Father-Son Crypto Scam Duo Jailed After Bleeding Investors of $12M appeared first on Cryptonews .
The developers of decentralized cryptocurrency exchange (DEX) Uniswap (UNI) appear to have carried out a major dump of their own altcoin, according to onchain data. After being inactive for the last 3.5 years, a cryptocurrency wallet affiliated with the Uniswap developers has woken up from its long slumber and deposited 10.21 million UNI tokens worth approximately $60.99 million to Coinbase Prime. This deposit received 9 million UNI from another Uniswap-affiliated crypto wallet in September 2020. At the time, the tokens were worth approximately $31 million and the UNI price was trading at $3.44. Related News: BREAKING: Coinbase Adds a New Altcoin to Its Roadmap to List At the time of writing, UNI is trading at $5.81 million, and in the last 24 hours, the token’s price has dropped by approximately 3%. On the other hand, the UNI price rose to an all-time high of $44.97 in May 2021. If it had sold at that time, the total money this developer wallet whale made from the last sale would have been $459 million. In other words, by not selling at the peak, this whale wallet lost $398 million. *This is not investment advice. Continue Reading: This Altcoin Developer Wallet Woke Up After 3.5 Years: They Sold Big Time – They Would Have Made Another $398 Million If They Sold At The Peak
The cryptocurrency market is buzzing with excitement, and a major catalyst behind this renewed energy is the remarkable performance of Spot Bitcoin ETFs . Since their launch, these investment vehicles have captured significant attention, but recent data highlights an unprecedented surge in capital flowing into them, signaling growing confidence and participation from various investor segments. Understanding the Phenomenon: What are Spot Bitcoin ETFs? Before diving into the specifics of the recent surge, let’s quickly touch upon what Spot Bitcoin ETFs are. Unlike futures-based ETFs that track the price of Bitcoin futures contracts, spot ETFs hold actual Bitcoin as their underlying asset. This structure is widely preferred by investors seeking direct exposure to Bitcoin’s price movements without the complexities of buying, storing, and securing the digital asset themselves. The approval and launch of these ETFs in the United States marked a pivotal moment, opening doors for traditional investors and institutions to easily access the Bitcoin market through regulated brokerage accounts. Key characteristics of Spot Bitcoin ETFs include: Direct Exposure: They aim to track the spot price of Bitcoin closely. Accessibility: Available on traditional brokerage platforms. Regulation: Operate under regulatory frameworks, potentially offering more investor protection compared to direct crypto exchanges. Liquidity: Generally offer high liquidity, making it easy to buy and sell shares. The Rapid Pace of Bitcoin Inflow The recent data points are truly striking. According to insights shared by Bloomberg ETF analyst Eric Balchunas on X (formerly Twitter), Spot Bitcoin ETFs collectively added nearly 25,000 BTC in just three days. This rapid accumulation underscores the significant demand currently sweeping through the market. To put this into perspective, 25,000 BTC represents a substantial amount of the total circulating supply being absorbed by these investment products in a very short timeframe. This rapid Bitcoin inflow isn’t just about volume; it’s also about speed. The pace at which capital is entering these funds suggests strong underlying demand, potentially fueled by a mix of institutional positioning, retail enthusiasm, and specific trading strategies taking advantage of market dynamics. IBIT BlackRock: Leading the Pack in Capital Attraction While multiple issuers launched Spot Bitcoin ETFs , one stands out prominently in attracting capital: BlackRock’s iShares Bitcoin Trust (IBIT). Eric Balchunas specifically highlighted IBIT’s performance, noting that it received a staggering $643 million in inflows on a single day. This figure alone is a testament to the trust and scale that major asset managers like BlackRock can bring to the crypto space. IBIT’s dominant position in attracting Bitcoin inflow suggests that investors are comfortable allocating significant capital through established financial giants. BlackRock’s reputation, extensive distribution network, and marketing efforts likely play a crucial role in making IBIT the preferred vehicle for many entering the Spot Bitcoin ETF market. What’s Driving This Crypto ETF Surge? Several factors are likely contributing to the current surge in Crypto ETF inflows: Institutional Adoption: Large financial institutions, hedge funds, and asset managers who were previously hesitant or unable to invest directly in Bitcoin are now using the ETF structure for exposure. The basis trade strategy, mentioned by Balchunas, is one example of sophisticated institutional activity potentially driving short-term inflows. This strategy involves exploiting small price differences between the spot market and futures market, often utilizing ETFs for efficient execution. Retail Investor Accessibility: Millions of retail investors now have easy access to Bitcoin exposure through their existing brokerage accounts, bypassing the need for crypto wallets or exchanges. Market Momentum and Price Action: Positive price performance in Bitcoin often attracts more investment, creating a virtuous cycle of rising prices and increased inflows. Halving Anticipation: The upcoming Bitcoin halving event is widely seen as a bullish catalyst, leading investors to accumulate Bitcoin ahead of the supply reduction. ETFs offer a convenient way to do this. Regulatory Clarity (Relative): While the crypto market still faces regulatory uncertainties, the approval of Spot Bitcoin ETFs in the US provided a degree of clarity and legitimacy for this specific investment product, encouraging broader participation. The combination of these factors creates a powerful tailwind for Bitcoin ETFs , pushing inflow numbers to new heights. Exploring the Benefits and Challenges of Investing via Bitcoin ETFs For investors considering exposure to Bitcoin, ETFs offer distinct advantages: Benefits: Ease of Investment: Buy and sell shares like stocks through standard brokerage accounts. Security: Eliminates the need for investors to manage private keys and worry about the security of their digital assets. Liquidity: High trading volumes on exchanges provide easy entry and exit points. Regulatory Oversight: Provides a layer of regulatory compliance that might appeal to cautious investors. Diversification within Traditional Portfolios: Allows for easy allocation to digital assets within a traditional investment framework. However, challenges and considerations exist: Challenges: Management Fees: ETFs charge expense ratios, which can erode returns over time compared to holding actual Bitcoin directly (though some initial fees are waived or very low). Tracking Error: The ETF’s performance may not perfectly match the spot price of Bitcoin due to fees, operational costs, and trading inefficiencies. Counterparty Risk: While regulated, investors still face risks related to the ETF issuer and its custodians. Market Volatility: Investing in a Crypto ETF still exposes investors to the inherent price volatility of Bitcoin itself. Tax Implications: Tax treatment may differ compared to holding Bitcoin directly, depending on jurisdiction and individual circumstances. Understanding these pros and cons is crucial for investors deciding whether Bitcoin ETFs are the right fit for their portfolio. Actionable Insights for Navigating the Spot Bitcoin ETF Market Given the current environment of significant Bitcoin inflow and growing interest, what should investors consider? Evaluate Different ETFs: Compare expense ratios, tracking performance, and the reputation of the issuer (like IBIT BlackRock ) before investing. Understand Your Risk Tolerance: Bitcoin and related ETFs are volatile. Only invest what you can afford to lose. Long-Term vs. Short-Term View: Are you investing for long-term exposure to Bitcoin’s growth potential, or looking to capitalize on shorter-term market movements or strategies like the basis trade? Your objective will influence your approach. Stay Informed: Keep track of market news, regulatory developments, and inflow/outflow data for various Spot Bitcoin ETFs . Consider Fees: While initial fee waivers are attractive, understand the long-term expense ratio you will be paying. The emergence and rapid success of Crypto ETFs represent a significant evolution in the accessibility of digital assets. The substantial capital influx, particularly into funds like IBIT BlackRock , highlights a maturing market where traditional finance is increasingly intersecting with the world of cryptocurrency. Summary: The Spot Bitcoin ETF market is experiencing an explosive surge in inflows, with tens of thousands of Bitcoin being added to these funds in just days. BlackRock’s IBIT is a clear leader in attracting this capital, signaling strong institutional and retail demand. While factors like basis trades, increased accessibility, and market momentum are driving this trend, investors should weigh the benefits of ease and regulation against potential challenges like fees and tracking error. The rapid Bitcoin inflow into these products underscores the growing mainstream acceptance and integration of digital assets into traditional investment portfolios, marking a pivotal moment for the broader crypto market. To learn more about the latest crypto market trends, explore our article on key developments shaping Bitcoin institutional adoption.
Ethereum is witnessing renewed optimism and interest from investors as the digital asset rides the bullish wave, caused by a positive market condition. Given the notable price growth observed in the past few days, there are speculations that the upward trend may extend to higher levels in the short term. Bullish Tailwinds Bolster Ethereum’s Price Several bullish predictions about Ethereum’s future action have flooded the market following its renewed upward trend. After examining its price dynamics, IntoTheBlock, a leading market intelligence and on-chain data platform, has underlined ETH’s potential in extending the ongoing rally to higher resistance levels. The market capitalization of the second-largest crypto asset has increased significantly, indicating that institutional and retail investors are expressing their confidence in ETH. IntoTheBlock highlighted that ETH’s market capitalization has increased by an astounding 12% in the past day. As the market rally picks up steam, Ethereum is once again positioning itself for a major rally. On-chain data from IntoTheBlock reveals that the only modest resistance with the biggest potential sell wall ahead for ETH is located close to the $1,860 level. This level stands as the current major resistance level against the altcoin ‘s upward trend, which might cause a pullback if bulls fail to push past the key point. However, if the zone gives way and ETH breaks above, the platform is confident that the ongoing uptrend will extend. At this point, IntoTheBlock claims that a move toward the psychological $2,000 mark looks increasingly plausible. After a period of consolidation, the altcoin’s price started to gain momentum for its next major move, which was supported by rising trading volumes and growing network activity . In a previous post on the X platform, IntoTheBlock reported a surge in network activity as new investors flock to the Ethereum network. According to the platform, the ETH network experienced a surge in new user adoption rate to about 40% last week, indicating a clear sign of user growth. Since the development coincides with bullish price movements, it suggests a resurgence of interest in the network’s capabilities and operations. Furthermore, it signals strong interest from first-time users and is beyond mere conjecture, considering the current state of the crypto market. What ETH’s Cost Basis Distribution Reveals While ETH has witnessed significant price growth, on-chain data platform Glassnode has outlined a level that might turn out to be a strong barrier for the altcoin. Glassnode stated that the next major supply overhead close to the current price is located at $1,895.50 as indicated by Ethereum’s Cost Basis Distribution. When ETH was valued at this price, over 1.64 million coins were acquired at this level, making it a crucial level of resistance as it trades below it. Most investors at this level were last active in November 2024 when they bought into the previous rally and raised their cost basis.
Trump Administration’s Treasury Secretary Scott Bessent lashed out at the Bretton Woods institutions, stating that the IMF and the World Bank had lost their way. However, Bessent noted that the U.S. would not abandon these institutions, opting to pursue relevant reforms from within instead. Bretton Woods Institutions ‘Knocked off Course:’ Trump Administration Seeks Change The