TL;DR WIF has soared in price, riding the meme coin wave with a weekly gain of 130% and a market cap nearing $1.3 billion. While most analyst are bullish on WIF’s future price performance, one warned that it might be too late to hop on it. WIF Goes Vertical It’s been green candles almost everywhere across the cryptocurrency market lately, with some digital assets posting more than impressive pumps. One example is the popular meme coin dogwifhat (WIF), whose price skyrocketed by almost 45% in the past 24 hours alone. Currently, it trades at a nearly four-month high of $1.28 (per CoinGecko’s data), marking a staggering weekly rise of 130%. Its market cap is inching closer to $1.3 billion. Thus, WIF surpassed Floki (FLOKI) and became the seventh-biggest meme coin. WIF Price, Source: CoinGecko The aforementioned revival of the crypto sector and the renewed hype across traders and investors seem like the most obvious reasons for the asset’s surge. Multiple analysts on X are now optimistic that WIF could be on its way to reaching new peaks. The one using the moniker Coin Signals noted the breakout above $1, setting the next target at $2.20. The popular X user Altcoin Sherpa chipped in, too. They revealed having “a small bag of WIF” and argued that the meme coin is “fairly early in its run relative to other big memes.” Despite not envisioning a rise to a new all-time high, the analyst sees potential for a solid increase in the event of “good conditions.” For their part, Ansem told their over 600,000 followers on X that WIF “looks very clean.” In their view, the bullish thesis might fall apart if the price slips to the $0.75-$0.80 range. Too Late for the Party? Contrary to the optimists mentioned above, Crypto Mechanic shared a somewhat bearish perspective. The X user acknowledged WIF’s “great move” but warned investors that it might be too late for them to jump on the bandwagon. “Let the price go into consolidation or give you some LTF pullbacks that would be a less risky setup imo,” they advised . Meanwhile, traders should also keep an eye on some technical indicators such as WIF’s Relative Strength Index (RSI). The momentum oscillator measures the speed and magnitude of recent price changes and varies from 0 to 100. A ratio above 70 signals that the token might have entered overbought territory and could be due for short-term correction. As of this writing, the RSI stands at over 85. The post Dogwifhat (WIF) Flips Floki (FLOKI) After 45% Daily Pump: What Are the Next Targets? appeared first on CryptoPotato .
Bitcoin’s Surge Approaches $106,000: On-Chain Insights and Market Sentiment As Bitcoin (BTC) hovers near the significant $106,000 mark, on-chain technicals suggest a potential repeat of October 2024’s breakout, making this
The recent activities of the BNB Chain Foundation have caught the attention of market analysts and investors alike. On May 12th, monitoring from @ai_9684xtpa revealed that the Foundation’s buy-in address
South Korean investors are increasingly taking risks with XRP and Dogecoin. Their trading volumes have surpassed Bitcoin and Ethereum's in recent days. Continue Reading: South Korean Crypto Enthusiasts Lead the Charge with XRP and Dogecoin Trades The post South Korean Crypto Enthusiasts Lead the Charge with XRP and Dogecoin Trades appeared first on COINTURK NEWS .
Solana’s market dynamics are shifting as it captures the attention of traders, with significant indicators suggesting possible price stabilization. The network’s Total Value Locked (TVL) continues to impress, reflecting a
The digital asset landscape is constantly evolving, bringing both exciting opportunities and significant challenges for traditional financial systems. At the heart of this discussion are stablecoins , cryptocurrencies designed to maintain a stable value, often pegged to fiat currencies like the Korean Won. Recently, a pivotal development emerged from South Korea , highlighting the growing assertiveness of financial authorities regarding these digital assets. Why is the Bank of Korea Focused on Won-Backed Stablecoins? The Bank of Korea (BOK), the nation’s esteemed central bank , has made its position crystal clear: it believes it must be involved from the very outset in the approval process for any won-backed stablecoin seeking to launch in the country. This isn’t just a bureaucratic preference; it stems from fundamental concerns about the potential impact of such digital currencies on core central banking functions. Ko Kyeong-cheol, head of BOK’s electronic finance team, articulated these concerns at a recent financial law conference, emphasizing the significant influence stablecoins could wield over key policy areas. These areas include: Monetary Policy: The central bank’s ability to manage interest rates and control the money supply could be affected if a large volume of won-backed stablecoins circulates outside the traditional banking system. Financial Stability: A large, widely used stablecoin could pose systemic risks. For instance, a ‘run’ on a stablecoin could destabilize its peg and potentially spill over into traditional financial markets. Payment Settlements: Stablecoins could alter existing payment infrastructures, potentially impacting the efficiency and safety of the national payment system which the BOK oversees. Therefore, the BOK argues that early involvement in the approval process is essential to proactively identify and mitigate these potential negative effects, ensuring that the introduction of digital assets aligns with the central bank’s policy objectives. Understanding Stablecoin Regulation: A Global Perspective The stance taken by the Bank of Korea is not isolated. Central banks and financial regulators worldwide are grappling with how to oversee stablecoins. The potential for stablecoins to become widely adopted as a medium of exchange and store of value raises questions similar to those posed by traditional money and banking. Globally, regulatory approaches vary: Some jurisdictions are proposing specific stablecoin legislation, often requiring issuers to hold reserves in a highly liquid and safe manner, subject to audits and regulatory oversight. Others are attempting to fit stablecoins within existing financial regulations, such as those governing e-money or payment systems. International bodies like the Financial Stability Board (FSB) and the Bank for International Settlements (BIS) are also developing frameworks and recommendations for stablecoin regulation, emphasizing the need for a comprehensive and coordinated approach. The BOK’s insistence on early involvement aligns with a trend towards regulators seeking to understand and control digital asset risks before they become widespread, particularly for those assets, like won-backed stablecoins, that directly interface with the national currency. What Does This Mean for South Korea’s Digital Asset Future? This move by the Bank of Korea signals a clear intent to exert significant influence over the development of the digital asset ecosystem in South Korea , particularly concerning stablecoins pegged to the Won. For potential issuers of such stablecoins, this means: The regulatory path will likely be rigorous and require close consultation with the BOK from the initial planning stages. Proposals will need to clearly demonstrate how the stablecoin project addresses the central bank’s concerns regarding monetary policy, financial stability, and payment systems. Collaboration and transparency with regulators will be paramount. While potentially creating a higher barrier to entry, a well-defined and robust stablecoin regulation framework, with the central bank ‘s input, could ultimately foster greater confidence and legitimacy for won-backed stablecoins within South Korea ‘s financial system. This could pave the way for broader adoption by businesses and consumers, provided the regulatory burden doesn’t stifle innovation entirely. Balancing Innovation and Stability: A Tightrope Walk The challenge for the Bank of Korea and other regulators is finding the right balance. On one hand, digital assets and stablecoins offer potential benefits like faster, cheaper payments, increased financial inclusion, and new avenues for innovation. On the other hand, they introduce risks that traditional financial regulations were not designed to handle. The BOK’s proactive stance suggests a priority on stability and control. By seeking early approval power, the central bank aims to shape the stablecoin market from its inception, ensuring it develops in a way that complements, rather than disrupts, the existing financial architecture and the effective implementation of monetary policy. This regulatory approach is likely to evolve as the technology and market mature. Dialogue between innovators and regulators will be crucial to developing frameworks that protect the public and the financial system while allowing for the safe exploration of digital asset potential. The case of South Korea and the Bank of Korea ‘s position on won-backed stablecoins will be a key example to watch as this global conversation continues. Actionable Insights for the Market For anyone involved in or observing the South Korea n digital asset market, the BOK’s position offers several key insights: Regulatory Engagement is Non-Negotiable: Any entity considering launching a won-backed stablecoin must prioritize early and ongoing engagement with the Bank of Korea and other relevant financial authorities. Focus on Risk Mitigation: Proposals should heavily emphasize how the stablecoin’s design and operations mitigate risks related to monetary policy, financial stability, liquidity, and illicit finance. Transparency is Key: Be prepared for significant scrutiny regarding reserve management, governance, and operational resilience. Understand the Central Bank’s Mandate: Frame your stablecoin proposal in a way that acknowledges and respects the BOK’s core responsibilities for price stability, financial system stability, and payment system oversight. This development underscores that the era of largely unregulated stablecoins, particularly those tied to major national currencies, is drawing to a close. Central banks like the Bank of Korea are asserting their authority to ensure that these new forms of digital money do not undermine their fundamental roles. Conclusion: A Defining Moment for Won-Backed Stablecoins The Bank of Korea ‘s call for early involvement in the approval of won-backed stablecoins marks a significant moment for the future of digital currencies in South Korea . It reflects a growing global consensus among central bank s that stablecoins, while promising, pose potential risks that necessitate proactive and robust stablecoin regulation . By demanding a seat at the table from the outset, the BOK aims to safeguard its ability to conduct monetary policy, maintain financial stability, and ensure the integrity of the payment system. This approach, while potentially adding layers of complexity for innovators, highlights the critical need to integrate novel digital assets responsibly into the existing financial ecosystem. The outcome of this regulatory push will shape how won-backed stablecoins develop and operate, serving as a crucial case study for other nations navigating similar challenges. To learn more about the latest stablecoin regulation trends, explore our article on key developments shaping South Korea ‘s approach to won-backed stablecoins .
Mind-blowing amount of SHIB meme coins has been burned over the past seven days, according to Shibarium data
Ethereum's Pectra upgrade enhances scalability and staking, sparking a 42% ETH price surge. The post Ethereum Pectra Upgrade Unleashes New Features & Market Surge appeared first on CryptoCoin.News .
Bitcoin ( BTC ) launches into US CPI week with new multimonth highs as traders dig in for volatility. BTC price action is giving increasingly bullish signals, joined by a key cross on the weekly MACD indicator. The weekly close fell just short of expectations, raising doubts over whether price discovery will return in the immediate future. CPI and PPI headline the week’s US macro data drops, but markets are all about the US-China trade deal and its implications. Bitcoin supply in loss drops below 2% in a rare test of hodlers’ staying power. Despite the gains, crypto market sentiment remains cool amid a lack of mainstream interest. Bitcoin MACD cross copies October 2024 Bitcoin managed to preserve its highest levels since January around the weekly close as bulls battle resistance below all-time highs. Volatility was visible over the weekend thanks to BTC/USD staying sensitive to developments around US trade tariffs. On the hourly chart, these manifested as snap moves up and down before a broad sideways trend continued, resulting in several “long wick” candles. That pattern continued into the week’s first Wall Street open, with Bitcoin hitting new highs of $105,706 on Bitstamp, per data from Cointelegraph Markets Pro and TradingView . BTC/USD 1-hour chart. Source: Cointelegraph/TradingView “Price action was making it seem like something big was coming. Any tiny dip was getting scooped up instantly and price started to move ~1 hour prior to the announcement,” popular trader Daan Crypto Trades wrote about the tariffs phenomenon in part of a post on X . “We're seeing quite a lot of ‘aware’ price action precede big announcements lately. The insider/leaking is real and it's used to trade our markets. Keep in mind, seeing this is such a big one including two major countries, it could be anyone anywhere.” BTC/USDT perpetual swaps 15-minute chart. Source: Daan Crypto Trades/X Fellow trader James Wynn continued by forecasting additional volatility to come. “It’s about to get seriously volatile for $BTC. Sharp wicks down, sharp wicks up,” part of his own X post stated . An accompanying chart showed exchange order book liquidity from monitoring resource CoinGlass . To the upside, $106,000 was the key area to break through on low timeframes. BTC liquidation heatmap. Source: CoinGlass Others pointed to a bullish cross on the moving average convergence/divergence ( MACD ) indicator, which on weekly timeframes provided a key upside impetus. “Probably the biggest signal you can get at the moment,” popular trader Moustache summarized to X followers, noting that the last such cross was in October 2024 . BTC/USD 1-week chart with MACD data. Source: Moustache/X As Cointelegraph reported , MACD had previously offered mixed signals, with daily performance giving traders pause for thought. Bitcoin bulls narrowly miss key weekly target Despite hitting its highest levels in three-and-a-half months after the weekly close, Bitcoin failed to flip a key support line that would secure a fresh breakout. The weekly candle closed at around $104,100 — a stone’s throw from what analysis previously described as the ticket to price discovery. BTC/USD 1-week chart. Source: Cointelegraph/TradingView Updating X followers on the topic, popular trader and analyst Rekt Capital confirmed a rejection at $104,500. “Going forward, it'll be worth watching for Bitcoin to form Lower Lows on the price action and Higher Lows on the RSI for a Bullish Divergence to develop,” he concluded . BTC/USD 1-day chart with RSI data. Source: Rekt Capital/X Before the close, BTC/USD had given strong cues that a retest of all-time highs could be on the cards and even a venture beyond. “Bitcoin is on the cusp of beginning Price Discovery Uptrend 2,” Rekt Capital stated at the time. BTC/USD 1-week chart. Source: Rekt Capital/X Price thus returned to a trading range only recently reclaimed during a week in which bulls enjoyed gains of 9.9%. As Cointelegraph reported , BTC price targets already included $150,000 and higher during June. CPI week dawns with uncertainty “everywhere” Another crunch macroeconomic data week for risk-asset traders makes for a potentially volatile environment for Bitcoin and altcoins. Two key inflation markers, the Consumer Price Index (CPI) and Producer Price Index (PPI) print for April, are due in the coming days. At the same time, markets are on edge over US trade policy, with news of a deal with China sparking flash moves in crypto over the weekend. “We have yet to receive a statement from Trump directly on the US-China trade deal,” trading resource The Kobeissi Letter noted in part of ongoing X coverage. “This explains why markets are only up ~1.3% on this otherwise massively bullish news. Uncertainty is still everywhere.” S&P 500 E-mini futures chart. Source: Cointelegraph/TradingView Kobeissi added that retail earnings reports could also shape market performance over the coming week. Continuing, trading firm Mosaic Asset argued that trade news aside, risk assets lacked bullish impetus thanks to an ongoing hawkish policy stance from the US Federal Reserve and Chair Jerome Powell. The Fed left interest rates unchanged at its meeting last week, with markets increasingly pricing out a cut before July. “While there is some easing of tensions on the trade front, the latest interest rate setting meeting by the Federal Reserve isn’t delivering any bullish catalysts,” Mosaic Asset wrote in the latest edition of its regular newsletter, “ The Market Mosaic .” “Despite capital market volatility this year, Fed Chair Powell reiterated his message that the Fed can take a ‘wait and see’ approach to how tariffs are impacting the economy and inflation.” Fed target rate probabilities (screenshot). Source: CME Group The latest data from CME Group’s FedWatch Tool puts the chance of a rate cut in June at under 15%, while the Fed’s July meeting attracts around 50% odds. Euphoria vs. “smart distribution” The proportion of the Bitcoin supply held in profit has reached more than 98% — something barely seen before, new research says. In one of its “ Quicktake ” blog posts on May 11, onchain analytics platform CryptoQuant examined whether the Bitcoin investor base was inclined to “smart distribution” at current levels. “When BTC's supply in loss drops to between 0–2%, it typically coincides with late-stage bull runs,” contributor Kripto Mevsimi summarized. “As shown in the chart, these moments cluster near macro tops — a zone often characterized by overconfidence.” BTC supply days in loss (screenshot). Source: CryptoQuant The post added that long-term holders — those hodling for at least six months — may see the return to six figures as a suitable opportunity to reduce BTC exposure. Newcomers and speculators, on the other hand, may only now be planning an entry. “With nearly all BTC holders in profit, distribution risk increases. Long-term holders may see these conditions as a signal to derisk, especially with BTC near all-time highs,” Kripto Mevsimi continued. “Meanwhile, newer entrants could interpret this strength as confirmation to chase, creating a potential sentiment mismatch.” Last week, research nonetheless suggested that buy-side and sell-side pressure was broadly balanced , with the implication that Bitcoin could continue moving higher without a significant rush to the exit. Mainstream retail ignores $104,000 Bitcoin In an interesting development — one potentially supporting sustained BTC price upside — the market is less “greedy” at $104,000 than it was when Bitcoin traded more than 10% lower. Related: Ethereum chart pattern supports ‘moon shot’ rally to new price highs if confirmed — Trader The latest data from the Crypto Fear & Greed Index shows that while “greed” does characterize the general mood, the initial push to $94,000 on April 23 delivered higher readings. Fear & Greed measured 70/100 on May 12, while on April 23 it reached 72/100, just inches from “extreme greed” territory. Lower levels of greed in the face of higher prices could potentially signal more sustainable price growth as investors resist the urge to act erratically. Crypto Fear & Greed Index (screenshot). Source: Alternative.me Analyzing Google Trends volumes for “Bitcoin” in particular, market commentators have come to similar conclusions. Despite being close to new all-time highs, Bitcoin is still not attracting significant mainstream retail interest. Google Trends searches for Bitcoin indicate that $BTC is no longer a retail game. Which confirms my theory as to why CT isn't crazy about a 100k $BTC . Graphic: @invest_answers pic.twitter.com/R56JjQpZXa — Westy💾 (@Westy_Dev) May 11, 2025 “Google searches for ‘Bitcoin’ at close to a 5-year low. Price over 100k,” Vijay Selvam, author of “Principles of Bitcoin,” summarized on X at the weekend. “Retail hasn’t even properly checked back in since 2020.” This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
BitGo has secured a MiCA license from BaFin, enabling it to offer regulated crypto services across the European Union. Cryptocurrency custodian BitGo has received a Markets in Crypto-Assets Regulation — also known as MiCA — license from Germany ‘s Federal Financial Supervisory Authority, allowing it to offer crypto services across Europe. In a Monday blog announcement , BitGo said the license was granted to BitGo Europe GmbH, its European entity established in 2023, which is already registered in several EU countries, including Italy, Spain, Poland, and Greece. “BitGo is now well-positioned to serve both crypto-native companies and traditional financial institutions — such as banks and asset managers — looking to engage with digital assets through a secure, compliant infrastructure provider.” BitGo Commenting on the license, BitGo said the European Union is a “global hub for digital asset innovation, driven by MiCA’s clear, harmonized approach to regulation,” and stated that the new rules have helped “accelerate institutional participation while increasing trust in the market.” However, not everyone in the crypto industry shares BitGo’s view. Some still believe that MiCA could lead certain firms to shut down or merge as they seek greater scale to meet regulatory demands. MiCA officially came into effect in late 2024, aiming to replace the previously fragmented regulatory landscape with a single set of rules across all 27 EU member states. According to analysts at TRM Labs, only 17 crypto businesses had received authorization under MiCA across seven EU countries, citing data from the European Securities and Markets Authority. Read more: BitGo expands Solana staking with Marinade Native integration