Up until now, TRX has yet to find a major break as it continues to trade sideways on the daily scale. However, its short-term outlook remains weak, but there’s hope for an increase if it resumes long-term bullishness. TRX’s bullish trajectory remains intact in the long term, but the demand appears extremely low on the daily chart as the price remains captured in a range. While struggling with volatility every week, it may continue to move sideways until the price breaks out of the range. However, it has seen a slight reduction in the past week as the entire crypto market takes a downturn, but the $0.21 level holds well this time and is now slowly climbing back while still trapped in a tight range. A continuous hold above this level could trigger buying if the demand level increases. Now, there’s lack of interest on the weekly scale. The long consolidation phase reflects a moment of liquidity gathering while the next direction of the market is yet to be ascertained. But considering its bullish trajectory from a long-term scale, the asset may resume buying anytime soon. Meanwhile, the bears still look more dominant on the short-term scale following the sudden late 2024 drop that led to a serious decline since the start of the year. If they take charge again, TRX may break below the holding yearly $0.2 low to a new one. It is currently trapped, finding it difficult to get out of the wood. TRX’s Key Level to Watch Source: Tradingview The main obstacle for the bulls lies at the $0.25 level. A break through there could bring buying pressure back to $0.275, along with the $0.31 resistance level. For the bears, the $0.211 and $ 0.186 levels are the barrier zone to keep an eye on. A breakdown there could cause some havoc with a potential dip to $0.165. Key Resistance Levels: $0.25, $0.275, $0.31 Key Support Levels: $0.211, $0.186, $0.165 Spot Price: $0.23 Trend: Neutral-Bearish Volatility: Moderate Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services. Follow us on Twitter @nulltxnews to stay updated with the latest Crypto, NFT, AI, Cybersecurity, Distributed Computing, and Metaverse news !
The tokenized commodities market has surged over the past month as real-world assets (RWAs) continue to attract investor interest. As of April 4, the sector's market capitalization stands at $1.34 billion, reflecting a 12% increase over the past month, according to RWA.xyz . Monthly transfer volume has climbed 20% to $712 million. Paxos Gold leads with a market cap of $703 million, followed by Tether Gold at $619 million, while Comtech Gold rounds out the top three at $11 million. To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io
The past week has been painful for DOT as it took another downturn after witnessing a short recovery. It resumed drops and recorded a total loss of 13% in a week, although it is looking calm at the moment. DOT’s performance has been poor over the past months due to a bearish crossover into the new year. Luckily, it found a solid ground in March and recovered, but the bears countered the move in the late month and pulled the price lower. That led to a bearish start this month and the price declined, although the current low is still standing well. It recently found a layby and currently sits above $3.8. This price level may hold as support if the bulls defend well. Otherwise, we may see an extension in the existing bearish trend. Looking at the overall market structure on the micro-level, it appears to have reached an extremely oversold condition after losing over half of its value in over 90 days. As we can see, supply currently looks low due to an exhaustion in the selling. A resurge from the current trading level could trigger a fresh increase in the market. That may lure the bulls back in the market. But as it stands now, the bears still appear in charge despite showing weakness. If they mount pressure to resume selling, they must retake the recent low before considering a continuation. For now, they appear stuck in the next move. DOT’s Key Levels To Watch Source: Tradingview Advancing bearish, the $3.65 level is marked as key breakdown support. If that happens, the lower levels to watch for a dip would be $3.2 and $3. There’s no enough pressure from the bulls’ side as they try to step back. If they manage to push higher, they may reclaim this week’s $4.2 high with a potential surge to $4.7. A further push there could allow buying to reach $5.3 and maybe $6 in the future. Key Resistance Levels: $4.7, $5.3, $6 Key Support Levels: $3.65, $3.2, $3 Spot Price: $3.98 Trend: Bearish Volatility: High Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services. Follow us on Twitter @nulltxnews to stay updated with the latest Crypto, NFT, AI, Cybersecurity, Distributed Computing, and Metaverse news !
Investors are capitalizing on opportunities during the recent market downturn. JPMorgan Chase reports significant stock purchases by mainstream investors. Continue Reading: Investors Seize Opportunities Despite Market Turmoil The post Investors Seize Opportunities Despite Market Turmoil appeared first on COINTURK NEWS .
According to cryptocurrency onchain data, a large crypto whale has purchased a large amount of altcoins in recent hours. According to the data, the big whale caught on the onchain radar purchased $2.41 million worth of Maker (MKR), Pendle (PENDLE), and Hyperliquid (HYPE) altcoins. This cryptocurrency whale, known with the short address 0xe86, purchased $1.21 million worth of MKR, $707 thousand worth of PENDLE, and $488 thousand worth of HYPE. Remarkably, this giant whale sold his Chainlink (LINK) and Aave (AAVE) holdings to make his latest purchases and used the funds to purchase the three altcoins in question. Related News: Bank of America Strategist Evaluates Markets' Decline! Risk Appetite May Increase, Here's Why While the altcoins sold by the whale, AAVE and LINK, are seen to have increased by modest amounts during the day, the increases in the altcoins purchased by the whale today are more intense. According to the data, this crypto whale currently has $9.96 million worth of altcoins, $3.7 million of which are pending in the USDC stablecoin. Other major altcoin assets are MKR with $1.66 million, AAVE with $1.51 million, LINK with $1.2 million, and PENDLE with $735,000. *This is not investment advice. Continue Reading: Massive Whale Sells These Two Altcoins, Buys Three Different Altcoins with the Funds
Ethereum restaking protocol EigenLayer is set to begin holding the operators who run nodes and validate transactions responsible for their actions. On April 17, the protocol will turn on slashing on its mainnet, in which operators are penalized for providing poor service or for malicious actions. EigenLayer enables tokenholders to restake their staked ETH, using it to provide security for third-party services to earn additional yield. This leaves restakers liable to being slashed in two ways — if the validator they staked their tokens with originally misbehaves, or if the EigenLayer operators with whom those tokens are restaked misbehave. Last year, EigenLayer began distributing rewards, including its native EIGEN token, to restakers but only activated slashing on the testnets. To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io
Fidelity Investments, an American asset management company, has applied to register its tokenized U.S. dollar money market blockchain, joining a growing list of businesses that are tokenizing assets. Fidelity registered its blockchain with the SEC, creating a tokenized version of its Fidelity Treasury Digital Fund (FYHXX), which contains cash and treasury securities. The SEC filing revealed that Fidelity wishes to create an on-chain share class of its funds, FYHXX, using the Ethereum network but plans to create an independent blockchain. FYHXX will not invest in cryptocurrencies but in cash and U.S. securities. It currently holds 80% in securities. Fidelity made a previous SEC filing before this one to introduce Staking for the Ethereum ETF, attempting to catch up to Blackrock, which was already investing in blockchain technology. Tokenization money funds offer quicker settlement times, direct transactions, 24/7 trading, and more liquidity. Fidelity can take traditional investments like bonds, funds, and credit, place them on the blockchain, and provide better asset access. For Fidelity, Real-World Assets are tokenized using the Ethereum blockchain. FYHXX will provide shareholders with verifiable transactions on the blockchain, keeping track of shares owned, but will be backed up with a traditional method of record keeping. The blockchain, therefore, will not be the official record of shares traded but will be updated daily to reflect the off-chain official record. Further, the U.S. Treasury bills would not be tokenized directly. The dual record model, with the primary record being off-chain and the secondary record being an Ethereum blockchain, could be vital to transitioning to an on-chain primary record. Fidelity, which manages $5.8 trillion, has been lagging behind other companies regarding blockchain adoption. Blackrock runs the money market BUIDL, which holds $1.5 billion in assets. Blackrock has been the leader in asset management, with other contenders following its example. Franklin Templeton has also developed a money market using tokenized funds, with $689 million. Debanking, the phenomenon of banks refusing to finance crypto businesses, didn’t help with adopting tokenized assets. Banks often lumped cryptocurrencies and tokenized assets in the same basket, despite tokenized assets following the same rules as traditional assets. A change in attitude occurred when Blackrock created BUIDL, a tokenized asset class. Many banks prefer AI companies to blockchain-based companies, despite both having varying degrees of risk depending on the underlying business model. “There was no question”, said Robbie Mitchnick, Blackrock’s head of crypto, “that the blockchain we would start our tokenization on would be Ethereum, and that’s not just a BlackRock thing, that’s the natural default answer. Clients clearly are making choices that they do value the decentralization, they do value the credibility, and the security and that’s a great advantage that Ethereum continues to have”.
Ripple whales have been highly active in recent hours, transferring large amounts of XRP tokens between unknown wallets. In total, 267,857,140 XRP, which, at the time of writing, was approximately $572,238,240, was transferred. These large XRP whales are believed to have a connection to Ripple’s ongoing legal battle and its on-demand liquidity (ODL) sales. These massive transactions were potentially triggered by the decision of the SEC to lift the injunction against institutional sales for Ripple recently. As a result, Ripple can now proceed with its ODL business, likely contributing to the recent surge in large-scale XRP transfers. Ripple Whales Move $572 Million Whale Alert, has recently reported a flurry of XRP transfers. Four transactions were executed within a short span, and every swap was equal to 66,964,285 XRP, which amounts to about $143 million. These huge transactions have elicited quite a stir among the members of the crypto space regarding their size and the frequency. While the reason behind the transfers is still uncertain, a large volume of XRP moving to unknown wallets could be tied to Ripple’s operations. Given that these moves occurred after the SEC has decided to remove the injunction on Ripple’s institutional sales, a correlation between Ripple’s liquidity management and institutional sales has emerged. Such large movements have also attracted the attention of the market observers to think that Ripple may be gearing up for expansion of its ’on-demand liquidity’ solution. This could explain why this wave of whale is being observed today based on the firm’s capacity to continue with these institutional sales. Ripple Legal Victory and Influence on XRP Transactions Ripple’s legal situation with the U.S. Securities and Exchange Commission (SEC) has been a key factor influencing the company’s operations. Recently, as part of Ripple’s decision to drop its cross appeal against the SEC , the Commission agreed to remove the injunction that had previously restricted Ripple from conducting institutional sales of XRP. This decision paves the way for Ripple to resume its on-demand liquidity services, a core part of its business. This movement should help Ripple expand the availability of liquidity solutions and its penetration in the international markets. The absence of the injunction will allow Ripple to transact with more XRP with institutional clients, which may be fueling the whale activities. Subsequently, since Ripple’s ODL platform focuses on large XRP transactions, whales are likely to be engaged in this kind of activity as they provide liquidity. At the same time, Coinbase Derivatives has submitted new applications with the U.S. Commodity Futures Trading Commission (CFTC) to self-certify XRP futures contracts . XRP Price Trend Amid Whale Movements XRP’s recent market behavior also reflects these developments, with the cryptocurrency showing signs of strength. According to crypto analyst Casi Trades, after reclaiming the $2.05 support level, XRP price prediction has set its sights on the next key resistance level at $2.24. This level is particularly significant, as it aligns with both the macro and micro wave structures of XRP’s price movements. Experts are keeping a close eye on XRP’s price action , with some predicting that the currency could break out of its current resistance levels and potentially reach new highs. The next levels to watch include $2.70, $3.05, and eventually $3.80, which could mark a new all-time high for XRP price. The post XRP News: Ripple Whales Move $572 Million, What Is Going On? appeared first on CoinGape .
Okcoin Europe Ltd, the European subsidiary of OKX Exchange, has been fined $1.2 million (€1.05 million) by Malta’s FIAU for anti-money laundering and compliance failures in 2023. The company has since taken corrective measures to address the deficiencies flagged in the review. Okcoin Europe Fined $1.2 Million by FIAU for Compliance Failures Malta’s Financial Intelligence
Coinbase, a prominent crypto exchange, is stepping up its game in the crypto world. According to a filing submitted recently, the exchange’s derivatives arm is preparing to launch two new futures contracts tied to XRP. This move comes as Ripple, the company behind XRP, is celebrating a major legal victory against the U.S. Securities and Exchange Commission (SEC). Coinbase Prepares for XRP Futures Launch Coinbase Derivatives has filed with the U.S. Commodity Futures Trading Commission (CFTC) to introduce two new products: XRP futures and nano XRP futures. Both contracts will be cash-settled and will track the price of XRP using the MarketVector Coinbase XRP Index. The standard XRP futures contract will represent 10,000 XRP, while the smaller nano version will cover 500 XRP. These products are expected to go live on or after April 21, 2025. In a recent post on X, Coinbase Institutional said the contracts offer a regulated, capital-efficient way to gain exposure to one of the most liquid digital assets. Ripple’s Legal Victory Clears the Path The launch comes at a great time for XRP. Ripple, the company behind the token, recently scored a major win in its long battle with the regulatory agency. Last year, a court ruled that Ripple’s programmatic sales of XRP, like those on exchanges like Coinbase, did not break securities laws. This is because they were sold through blind bids. While the court said direct sales to big investors were securities, the SEC has since dropped its appeal. This means that XRP is no longer considered a security in U.S. law’s eyes. This gives Coinbase confidence to move forward with XRP-based products without fear of legal crackdowns. Coinbase’s Growing Lineup of Crypto Derivatives Coinbase Derivatives is building a strong collection of futures products for both retail and institutional traders. The XRP futures contracts will join a lineup that already includes Bitcoin (BTC), Ethereum (ETH), Solana (SOL), Dogecoin (DOGE), and Cardano futures. The trading platform offers crypto contracts and futures for gold, silver, crude oil, and natural gas. Coinbase launched its Derivatives Exchange in 2022 after acquiring the CFTC-regulated FairX. Since then, it has been working to make regulated trading tools easier for crypto investors to access. With XRP now around $2 and climbing , traders looking to hedge or profit from XRP price swings will soon have more choices than ever. The post Coinbase Derivatives to Launch XRP Futures Post Ripple Lawsuit Win appeared first on TheCoinrise.com .