Tuesday was a rough day for the crypto market, as bitcoin (BTC) fell to three-month lows below $87,000, dragging the broader market down. More importantly, investors withdrew funds from U.S.-listed spot bitcoin exchange-traded funds (ETF) at an unprecedented rate. The 11 spot ETFs registered a cumulative net outflow of $937.78 million, the most significant single-day redemption since the funds began trading in January 2024, according to data tracked by SoSoValue . Fidelity's FBTC saw the most outflow, totaling $344.65 million, followed by $164.37 million in redemptions from BlackRock's IBIT. The remaining funds registered outflows of less than $100 million each. The weakening appetite for these ETFs could be attributed to the decline in the premium in the CME-listed bitcoin futures, which has dented the appeal of the cash and carry arbitrage. Moreover, these BTC and ETH carry trades now offer barely more than the U.S. 10-year Treasury note, which offered a yield of 4.32% at press time. The strategy, heavily favored by institutions since early last year, involves buying the spot ETF and simultaneously selling the CME futures to pocket the premium while bypassing the price direction risks. According to Velo Data, the annualized one-month basis (premium) in the CME bitcoin futures dropped to 4% Tuesday, the lowest in nearly two years, and down significantly from almost 15% in December. In other words, the yield available on the cash and carry strategy has declined dramatically in two months. The basis in ether futures has also declined sharply to around 5%. The spot ether ETFs listed in the U.S. witnessed a total outflow of $50 million Tuesday.
In a recent development, Nate Geraci, the President of The ETF Store, highlighted a bold proposition from Strive’s CEO, Matt Cole. On February 24, Cole reached out to GameStop’s Chairman
The DOJ has allegedly already opened an investigation regarding President Javier Milei’s role in the promotion of Libra and the involvement of the project’s founders, Kelsier Ventures’ Hayden Davis, KIP Protocol’s Julian Peh, and two Argentine entrepreneurs, in the scheme. DOJ Starts Libra Case Investigation Libra, the cryptocurrency project made famous by the endorsement of
Grayscale Investments has taken a significant step in broadening its crypto ETF lineup by filing a Form 19b-4 for a spot polkadot fund on Nasdaq. The new fund, set to trade under the ticker “DOT,” is designed to offer investors regulated exposure to Polkadot without the need to hold the token directly. By tracking the … Continue reading "Grayscale Files for Spot Polkadot Fund, Boosting Altcoin ETF Prospects" The post Grayscale Files for Spot Polkadot Fund, Boosting Altcoin ETF Prospects appeared first on Cryptoknowmics-Crypto News and Media Platform .
Solana started a fresh decline from the $162 zone. SOL price is down over 15% and might struggle to recover above the $150 resistance. SOL price started a fresh decline below the $162 and $150 levels against the US Dollar. The price is now trading below $150 and the 100-hourly simple moving average. There is a connecting bearish trend line forming with resistance at $144 on the hourly chart of the SOL/USD pair (data source from Kraken). The pair could start a fresh increase if the bulls clear the $150 zone. Solana Price Dips Sharply Solana price struggled to clear the $185 resistance and started a fresh decline, underperforming Bitcoin and Ethereum . SOL declined below the $162 and $150 support levels. It even dived below the $135 level. The recent low was formed at $131 and the price is now consolidating losses with a bearish angle. There was a minor recovery wave above the 23.6% Fib retracement level of the downward move from the $173 swing high to the $131 swing low. Solana is now trading below $145 and the 100-hourly simple moving average. On the upside, the price is facing resistance near the $144 level. There is also a connecting bearish trend line forming with resistance at $144 on the hourly chart of the SOL/USD pair. The next major resistance is near the $150 level. The main resistance could be $152 and the 50% Fib retracement level of the downward move from the $173 swing high to the $131 swing low. A successful close above the $152 resistance zone could set the pace for another steady increase. The next key resistance is $160. Any more gains might send the price toward the $165 level. Another Decline in SOL? If SOL fails to rise above the $145 resistance, it could start another decline. Initial support on the downside is near the $141 zone. The first major support is near the $136 level. A break below the $136 level might send the price toward the $131 zone. If there is a close below the $125 support, the price could decline toward the $120 support in the near term. Technical Indicators Hourly MACD – The MACD for SOL/USD is losing pace in the bearish zone. Hourly Hours RSI (Relative Strength Index) – The RSI for SOL/USD is below the 50 level. Major Support Levels – $136 and $131. Major Resistance Levels – $145 and $152.
Jupiter’s founder, Meow, has announced plans to lock 280 million JUP tokens (worth over $204 million) that he…
On February 26th, COINOTAG News reported that major cryptocurrency exchange Binance has announced its intention to enhance user protection and preserve market integrity. This initiative includes conducting regular reviews of
Solana has retraced more than 50% from its all-time high of $295 in January, possibly driven by declining meme coin trading activity. Solana ( SOL ) has had its worst monthly performance since the FTX collapse in November 2022, falling 38% in the last 30 days. Declining memecoin trading activity, which previously contributed to Solana’s massive on-chain volume, has been a major factor. As of Feb. 26, a whopping 8.1 million tokens have been minted on Pump.fun, Solana’s memecoin trading platform. The platform has subsequently generated $577 million in fees. On Feb. 12, Pump.fun’s daily trading volume peaked at a monthly high of $218 million. But it appears that momentum has slowed. Data from a Dune analytics dashboard shows that trading volume has decreased 94% in a single day, from $89.5 million on Feb. 25 to just $5.03 million on Feb. 26. The majority of tokens are down 80–90% from their peaks, reflecting the decline in the larger memecoin market. Daily trading volume on Pump.fun. Source: Dune Analytics Solana’s decentralized finance ecosystem has seen a significant outflows as a result of this crisis. According to DefiLlama , Solana’s TVL has dropped from $12 billion in early mid-January to $7.13 billion, losing $5 billion in less than a month. You might also like: Circle mints another 250M USDC on Solana, bringing 2025 total to $8B In the last 30 days, Raydium, the decentralized exchange that houses Pump.fun-graduated memecoins, has seen a 50% TVL drop. Capital is also moving to other networks as Solana’s activity wanes. In the past 30 days, more than $500 million has been bridged to Ethereum ( ETH ), Arbitrum ( ARB ), and Sonic ( SONIC ) SOL is currently trading at $142, having dropped 15% in the last 7 days. Bulls are struggling to establish a support level, with $140 acting as a key threshold. If SOL fails to hold above this level, the next major support lies between $125 and $130. A breakdown below this range could push SOL to its lowest price since Aug. 2024. SOL needs to recover the $150 mark and witness a resurgence in TVL and on-chain volumes to resume its bullish momentum. Until then, there is still a strong potential for more declines, which increases uncertainty. An upcoming 11.2 million token unlock on March 1 could further put pressure on SOL. Additionally, there is a low chance of a Solana ETF being approved soon, which lessens the likelihood of an institutional trigger happening right away. Read more: Solana meme coins suffer $15b wipeout, insiders and snipers dump
The post XRP Price Prediction For February 26 appeared first on Coinpedia Fintech News XRP is currently showing signs of potential trend reversal, though the larger bearish divergence is still affecting its price. Over the past 24 hours, XRP briefly dipped below the $2.25-$2.30 support range, but as of now, it has not confirmed a daily close below this level. While this bounce offers a glimmer of hope for bulls, it’s important to remember that this does not guarantee the end of the bearish divergence. On larger time frames, the bearish trend is still visible, and the market is still under the influence of this pullback. The price could still face further challenges, especially if the larger bearish pattern continues to play out. Key Support and Resistance Levels XRP is currently testing resistance levels on the micro scale, specifically between $2.30 and $2.46. This zone is critical as it represents a pivot point between potential bullish and bearish scenarios. A break above this resistance could signal the start of a new bullish phase, while a failure to break through may indicate further downside risk. The immediate support level that traders are watching is at $1.95. If the price drops below this level, the market may face further corrections. However, if support at $1.95 holds, there’s a good chance that the bullish momentum could resume. Should the price drop further, the next key support level lies at the February low of $1.77. Bullish Scenario and Potential Price Targets If XRP can successfully break above the $2.46 resistance, it could set the stage for a significant bullish movement. In the best-case scenario, this could lead to a price surge toward the $5 to $6 range, offering a substantial reward-to-risk ratio for investors. This would mark the start of a new uptrend, ideally following a five-wave pattern that would confirm the bottom is in place. If XRP breaks through the $2.83 resistance level, it would provide more confidence that the bearish scenario is invalidated and the market is in a strong uptrend.
The recent decline in Bitcoin’s value has precipitated a broader crypto market downturn, as fear grips investors amid economic uncertainty. Despite a relatively short sell-off period, Bitcoin’s significant drop to