The dynamic landscape of the crypto industry is currently witnessing attempts by political figures to sway its direction. Recently, progressive Democrat Ro Khanna has been actively engaging with key stakeholders in the crypto space. Notable figures, including billionaire Mark Cuban, are expected to attend an upcoming round table meeting aimed at discussing the future of
Bitcoin could soon see a dramatic upward price swing according to the head of research at cryptocurrency brokerage FalconX, David Lawant, based on the current discount on the Coinbase Bitcoin premium and its historical significance. In a post shared on the microblogging platform X (formerly known as Twitter), Lawant noted that the last time the
The recent surge in new addresses for PEPE, FET, and ENS may signal bullish trends for these altcoins. Increased network growth typically indicates heightened interest and potential adoption. On-chain analytics reveal that these cryptocurrencies are experiencing notable user influxes, suggesting attractive investment opportunities. An analysis of recent on-chain data indicates significant network growth for PEPE,
While Donald Trump makes every possible effort to sway the crypto players in his Presidential Campaign speeches, progressive Democrat Ro Khanna seeks to prevent the Trump takeover of the $2 trillion crypto industry. Ro Khanna Reaches Out to Crypto Industry Heavyweights As reported by Fox Business journalist Eleanor Terret, Ro Khanna is currently reaching out The post Democrat Ro Khanna Seeks to Prevent the Trump Takeover of $2 Trillion Crypto Industry appeared first on CoinGape .
The cryptocurrency market has been highly volatile recently, with notable movements in various digital assets. Among the many developments, ChainLink [LINK] has garnered significant attention due to unusual on-chain activities. 54 newly created wallets have collectively withdrawn 2.08 million LINK tokens valued at $30.28 million within just a week. Discover the reasons behind the substantial
**Bitmex Launches New Memecoin Basket Index to Track Top 10 Memecoins** In a move that is certain to capture the attention of cryptocurrency enthusiasts worldwide, BitMEX has unveiled a pioneering memecoin basket index. Aptly named the Memecoin Index (#MEME), this innovative product is designed to track the performance of the top 10 memecoins in the
Japan continues to push the envelope in Web 3.0 and cryptocurrency regulation. Unlike the fragmented regulatory landscape elsewhere, Japan ensures a collaborative approach with stakeholders. Recently, Japan’s regulatory clarity has paved the way for new developments like the introduction of stablecoins by licensed entities only. Japan sets a precedent in integrating cutting-edge Web 3.0 technologies
On-chain data shows PEPE and FET are among altcoins that have seen a sharp growth in their addresses recently, a sign that may be bullish. PEPE, FET, & ENS Have Enjoyed Sharp Network Growth Recently According to data from the on-chain analytics firm Santiment, three altcoins have seen a sudden spike in their Network Growth.
Nearly 54 newly created wallets withdrew 2.08 million LINK tokens worth $30.28M, per Lookonchain.
As the global financial markets prepare to launch U.S.-based spot Ethereum exchange-traded funds (ETFs), Ethereum is positioned to potentially outperform Bitcoin, according to a new analysis by K33 Research. This comes amid concerns that Bitcoin might face downward pressure due to upcoming repayments to creditors of the defunct Mt. Gox exchange. Related Reading: Ethereum’s Breakout Moment: Is a $7,500 Target Achievable? Experts Weigh In ETF Launch to Begin a New Era for Ethereum Ethereum has lagged behind Bitcoin in performance over the last year, with the former surging 67% while the latter by 95%, but that might be about to change with the anticipated launch of Ethereum spot exchange-traded funds (ETFs) in the United States, expected in the coming weeks. Analysts Vetle Lunde and David Zimmerman from K33 Research suggest that introducing these spot ETFs could be pivotal for Ethereum’s valuation. Despite a likely initial dip post-launch, they forecast that inflows into these funds will propel Ethereum’s price over time, drawing a parallel to the earlier impact of Bitcoin’s spot ETFs, which attracted billions of dollars in inflow after launch. This optimism is rooted in the belief that ETFs will catalyze significant capital flows into Ethereum, mirroring the influx seen with Bitcoin. The analysts project net inflows amounting to 0.75% to 1% of Ethereum’s circulating supply within five months post-launch, potentially setting the stage for substantial price appreciation. The analysts noted: ETFs are a solid catalyst for relative ETH strength as the summer progresses and flows accumulate, and I firmly view current ETH/BTC prices as a bargain for the patient trader. When Will ETH Spot ETF Launch In The US? Despite the analysts’ bullish outlook, the market appears skeptical, as evidenced by Ethereum futures trading at a discount relative to Bitcoin futures, as highlighted in the K33 Research. Related Reading: Experts Eye Spot Ethereum ETF Launch By Mid-July, Predict Price Rally Ethereum is trading at around $3,312, reflecting a 3.3% drop over the past day and conceding with the ubiquitous decline in the crypto market. In the broader context, the crypto industry is enthusiastic about Bitcoin and Ethereum ETFs. Nate Geraci, president of The ETF Store, highlighted that amended S-1 forms for Bitcoin ETFs are due before July 8, with approvals potentially finalized by July 12, paving the way for a mid-July launch. Wen spot eth ETF? BBG sticking w/ mid-July. Amended S-1s due July 8th. Potential final S-1s by July 12th. Would theoretically mean launch week of July 15th. via @emily_graffeo @olgakharif pic.twitter.com/NG8xhtCP21 — Nate Geraci (@NateGeraci) July 3, 2024 Concurrently, Steve Kurz from Galaxy Digital expressed confidence in a Bloomberg interview that Ethereum ETFs would receive approval within July, underscoring the structured and familiar regulatory process drawing from experiences with Bitcoin ETF applications. Featured image created with DALL-E, Chart from TradingView