Solana's SOL has been on a tear lately, rallying over 30% in under seven days as the high-performance blockchain network benefits from substantial activity.
Grayscale Investments has withdrawn its staking proposal from its spot Ethereum ETF plan. This change was made clear in an amended preliminary proxy statement for the Grayscale Ethereum (ETH) Trust filed on Tuesday. The original filing had proposed staking for investors through the trust, but this option has now been removed. Grayscale Drops Staking from The post Grayscale Eliminates Staking from Its Spot Ethereum ETF Plan appeared first on CoinGape .
VanEck's Ethereum ETF, ticker ETHV, is now listed on DTCC, with the SEC's decision on approval pending amid market optimism. The post VanEck’s Ethereum spot ETF listed on DTCC under ticker $ETHV appeared first on Crypto Briefing .
Dogecoin (DOGE), the popular meme-inspired cryptocurrency, is currently demonstrating signals that suggest it might be on the cusp of a significant bullish breakout. According to a recent analysis from prominent crypto analyst Ali, the meme-inspired cryptocurrency appears to be approaching a crucial resistance level, with market behaviors hinting at potential upward movement. Related Reading: Did A Dogecoin Whale Just Sink The DOGE Ship? The $30-Million Transfer Mystery Eyes Set On Breaking The $0.2 Resistance Level Ali, a well-known market analyst, pointed out that Dogecoin is testing the possibility of reaching its highest price level in over a month at $0.2. His analysis is based on DOGE’s recent escape from a descending triangle pattern, which typically suggests a shift in market dynamics favoring buyers. Following a pattern similar to the previous cycle, where DOGE experienced a retracement after breaking out from a descending pattern before rallying, the asset has recently completed a significant 47% retracement. This movement has led Ali to highlight the market’s tendency to echo past patterns, though not perfectly. With the breakout from the descending pattern and subsequent retracement now complete, DOGE is positioning itself for another push toward the $0.2 resistance level. History doesn’t repeat itself, but it often rhymes!! https://t.co/qr9BG5QnjH — Ali (@ali_charts) May 21, 2024 This level has proven challenging, with selling pressure frequently intensifying around this range. However, the broader market sentiment remains bullish, which could support Dogecoin’s push toward this key price point. Notably, to reach $0.2, DOGE would need to increase further by nearly 20% from its current position. Currently, the memecoin is trading at $0.168, reflecting a 10% increase over the past 24 hours and continuing a week-long uptrend that has seen nearly a 15% increase. Surging Interest In Dogecoin And Strong Upside Signal The positive movement in DOGE’s price performance is further underscored by a surge in DOGE’s open interest, which has risen by 23% in the past day to reach $1 billion, according to data from Coinglass. Additionally, the open interest volume has soared by 200%, now at nearly $4 billion. An increase in open interest indicates that new market participants are entering or existing positions are being expanded. This can be a sign of strengthening market activity and a supportive factor for the ongoing price increase. Echoing Ali’s sentiment, another analyst from Crypto Daily Trade Signals identified a symmetrical triangle pattern in DOGE’s price movements, reinforcing the potential for continued upward momentum. Related Reading: Despite Price Lull, Shiba Inu Burn Rate Heats Up: Are Investors Preparing For A Mega Rally? According to this analysis, Dogecoin is showing signs of bullish behavior, with immediate resistance near $0.15950. However, since DOGE already surpassed that, the analyst noted other resistance levels at $0.16980 and $0.18440. Featured image created with DALL·E, Chart from TradingView
A widely followed crypto strategist says that a certain altcoin group will massively benefit from the approval of a spot market Ethereum (ETH) exchange-traded fund (ETF). Pseudonymous analyst DonAlt tells his 554,400 followers on the social media platform X that while an Ethereum ETF might be a bit bearish for Bitcoin (BTC) inflows, it will The post ‘All Bets Are Off’ – Top Analyst Unveils Crypto Market Forecast Amid Increased Odds of Ethereum ETF Approval appeared first on The Daily Hodl .
In a recent crackdown on illicit transactions involving crypto assets, the US Department of Justice (DOJ) arrested Rui-Siang Lin, a 23-year-old individual from Taiwan. Lin, who also goes by the names Pharoah and Faro, is accused of owning and operating a dark web drug marketplace known as the “Incognito Market.” The platform allegedly facilitated anonymous
MoonBag Presale Conquers Hearts, Leaves Polkadot and Toncoin at Crossroads Recent instability in the crypto market saw crypto giant Polkadot($DOT) struggling with choppy price trends and traders’ lack of faith in Toncoin(TON). However, the emergence of MoonBag (MBAG), the newest meme coin in the crypto market, has come as a
Summary The price of Bitcoin was above $70,000 this morning for the first time in over a month. Ethereum prices are up double-digit percentage points (11% as of this writing) on renewed ETF optimism. Using the Grayscale Bitcoin Trust as a proxy, Bitcoin prices are currently trading at the high end of this year's range. As we first noted in today's Morning Lineup, while equities are having a snoozer of a session, crypto prices are rallying. Although it has come off the high, the price of Bitcoin ( BTC-USD ) was above $70,000 this morning for the first time in over a month. Meanwhile, Ethereum ( ETH-USD ) prices are up double-digit percentage points (11% as of this writing) on renewed ETF optimism. As shown below, using the Grayscale Bitcoin Trust ( GBTC ) as a proxy, Bitcoin prices are currently trading at the high end of this year's range. Typically, it goes without being said that crypto prices are highly volatile given the asset is at one of the more extreme ends of the risk spectrum. In a similar boat are the most heavily shorted stocks. Those "meme stocks" were also recently in the spotlight as they saw a temporary resurgence last week. In the chart below, we show the relative strength line of GBTC versus an index of the 100 most heavily shorted Russell 3,000 members over the past year. For the most part, GBTC has outperformed the most heavily shorted stocks. However, beginning in mid-March, that relationship swapped to those highly shorted names beginning to outperform Bitcoin. That hit a pinnacle one week ago as stocks like GameStop ( GME ) began giving up the ghost, and since then that relative strength line is back to favoring GBTC. Although last week had reminiscences of the 2021 meme stock mania, one interesting difference was the relationship with crypto prices and those short squeeze names. Using the same groups as above, below we show the rolling 50-day correlation between GBTC and the most heavily shorted stocks. As shown, for most of the past several years, Bitcoin has tended to have a decent positive correlation with price action in the most heavily shorted stocks. In other words, crypto prices and heavily shorted stocks generally moved in the same direction on a given day. That positive correlation has been present recently, although it got a dent on the meme stock surge. Again, that hit to the correlation has been merely a dent as it stands in stark contrast to January 2021 (or even various other points of the past year) when the two had historically uncorrelated moves. Original Post Editor's Note: The summary bullets for this article were chosen by Seeking Alpha editors.
The mean coin age of XRP continues to trend higher to signal network-wide accumulation.
The Securities and Exchange Commission (SEC) and Coinbase have filed a joint motion with the Southern District of New York, seeking an order to seal certain confidential information. This action is sensitive given that both the parties involved claim that the documents in contention contain business information that if disclosed will be detrimental to their The post Coinbase Vs SEC: SEC & Coinbase File to Seal Confidential Information in Court appeared first on CoinGape .