This article explores the recent challenges faced by spot bitcoin ETFs, including outflows and market reactions, against the backdrop of a cooling bitcoin market.
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Top Altcoins to Keep a Close Eye on Amid the Hype on Spot Ethereum (ETH) ETF Approval
The post Top Altcoins to Keep a Close Eye on Amid the Hype on Spot Ethereum (ETH) ETF Approval appeared first on Coinpedia Fintech News After the United States Securities and Exchange Commission (SEC) sent all signals of rejecting approval of spot Ethereum (ETH) exchange-traded funds (ETFs) in the past month, the agency reversed its position. Notably, the US SEC commissioners, led by Gary Gensler, will vote on whether to approve or reject VanEck’s spot Ether ETFs on Thursday. On …
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XRP Price Rises Within Range: Poised for a Breakout?
XRP price avoided a major downside break as ETH’s surges. The price is back above $0.5220 and eyeing a key upside break in the near term. XRP started a decent increase above the $0.5150 resistance zone. The price is now trading above $0.5250 and the 100-hourly Simple Moving Average. There was a break above a key bearish trend line with resistance at $0.520 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair could correct gains, but the bulls might remain active near the $0.5180 zone. XRP Price Recovers After a drop toward the $0.5065 support, XRP price started a recovery wave. Recently, Ethereum rallied over 20% and Bitcoin climbed above $70,000. It sparked decent bullish moves in XRP. The price climbed above the $0.5150 and $0.520 resistance level. There was a break above a key bearish trend line with resistance at $0.520 on the hourly chart of the XRP/USD pair. The pair even broke the $0.5320 resistance and traded as high as $0.5386. The price is now correcting gains and might test the 23.6% Fib retracement level of the upward wave from the $0.5064 swing low to the $0.5386 high. It is now trading above $0.5250 and the 100-hourly Simple Moving Average. Immediate resistance is near the $0.5380 level. The first key resistance is near $0.5420. A close above the $0.5420 resistance zone could send the price higher. The next key resistance is near $0.5550. If the bulls push the price above the $0.5550 resistance level, there could be a fresh move toward the $0.5650 resistance. Any more gains might send the price toward the $0.5720 resistance. Another Decline? If XRP fails to clear the $0.5380 resistance zone, it could start a downside correction. Initial support on the downside is near the $0.5310 level. The next major support is at $0.5250. The main support is now near $0.5220 or the 50% Fib retracement level of the upward wave from the $0.5064 swing low to the $0.5386 high. If there is a downside break and a close below the $0.5220 level, the price might accelerate lower. In the stated case, the price could drop and test the $0.5065 support in the near term. Technical Indicators Hourly MACD – The MACD for XRP/USD is now losing pace in the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is now above the 50 level. Major Support Levels – $0.5310 and $0.5220. Major Resistance Levels – $0.5380 and $0.5420.
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Sei Foundation Unveils ‘Parallelized’ EVM In v2 Upgrade, Driving 11% Spike In SEI’s Price
To increase the capabilities of its Layer 1 (L1) blockchain, the Sei Foundation has announced a governance proposal to upgrade Sei to Version 2. This proposed upgrade will reportedly introduce a “high-performance, parallelized” Ethereum Virtual Machine (EVM) to improve the network’s overall functionality. Sei Rolls Out Multi-Phase V2 Upgrade According to the announcement, the Sei V2 launch will be rolled out in three phases to minimize risk, set user expectations, and optimize network performance. “By rolling out Sei v2 in measured steps, Sei Contributors can ensure a stable and scalable network for everyone,” the foundation stated. Related Reading: Crypto Analyst Sounds Warning Alarm For Potential 50-60% Crash In Chainlink Price, Here’s Why The first phase will focus on validating software upgrades and transitioning the existing Sei Pacific-1 mainnet to the new “v2” iteration. This will pave the way for deploying EVM-based contracts and infrastructure integrations on the Sei network. The announcement cautioned that “not everything will be functional at the start of this period. “For example, bridges will need time to deploy to Mainnet before the community can use them.” However, the foundation promised to provide an official announcement once the v2 network is deemed stable and critical infrastructure, such as RPCs, bridges, indexers, and multi-sigs, is ready for use. If the governance proposal is accepted, the Sei mainnet upgrade to Version 2 is scheduled for Monday, May 27th. Interestingly, the announcement of the Sei V2 upgrade has already sparked a surge in the blockchain’s native token, SEI, which has emerged as one of the biggest gainers in the market over the past 24 hours, with a price increase of 11%. All Eyes On All-Time High On Mainnet Upgrade Prospects The SEI token is trading at $0.5830, surpassing its previous resistance level of $0.560. This breakthrough aims to consolidate the token’s price above this mark, a key level for the token’s prospects of testing higher resistance walls and potentially reaching its all-time high (ATH) of $1.14, set on March 16. Furthermore, the token has recorded a trading volume of $95 million since the announcement, resulting in a substantial 150% increase compared to the figures recorded during the previous weekend, according to CoinGecko data. Despite these positive developments, it remains to be seen whether the governance proposal to upgrade the Sei blockchain to Version 2 will be approved. Related Reading: Dogwifhat (WIF) Surges 10.4% Amid Whale Frenzy, New ATH Coming Soon? In the event of a bullish outcome and the successful implementation of the V2 upgrade, the key resistance levels to watch on the upside are $0.592, $0.613, and $0.637. These levels could be potential targets for the token’s continued bullish momentum. Conversely, should the token experience a price correction, the $0.544 and $0.527 zones would be the levels to monitor for potential support and stabilization of the SEI price in the coming days. Featured image from Shutterstock, chart from TradingView.com
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Top Crypto Gainers Today on DEXScreener – WIFMAGA, MEGA, APE
As crypto markets lurched higher on Monday on optimism that Ethereum ETFs might soon get approval, renewed risk appetite saw traders hunting for top crypto gainers today flock to the on-chain markets. The post Top Crypto Gainers Today on DEXScreener – WIFMAGA, MEGA, APE appeared first on Cryptonews .
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NY Attorney General Secures $2 Billion Settlement With Bankrupt Crypto Lender Genesis
New York Attorney General Letitia James has secured a $2 billion settlement with bankrupt cryptocurrency firms Genesis Global Capital, Genesis Asia Pacific, and Genesis Global Holdco. The settlement, which requires bankruptcy court approval, will establish a victims’ fund to compensate over 29,000 New Yorkers who invested more than $1.1 billion through the Gemini Earn program.
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Solana Woes| Cronos Shifts| BlockDAG’s $100M Strategy
BlockDAG’s $100M Liquidity Surge: Outshining Solana Downturn and Cronos Forecasts April 2024 brought notable fluctuations across the cryptocurrency market. While Solana struggled with significant network issues that resulted in a substantial decline in its price, Cronos faced mixed reactions due to changes in monetary policies and internal strategy adjustments at
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Crypto Investment Fund Exec Sentenced To 3 Years For $55 Million Scheme
Lilian Nurieva, former Head of Networks at Russian crypto Investment fund Finiko, has been sentenced to three years for defrauding private investors and participating in an organized criminal group. The $55 million pyramidal scheme is considered the second-largest financial scam in Russia’s post-Soviet history by the Federal Foundation for the Protection of Investors and Shareholders
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$28.5M Presale: BlockDAG’s Shibuya Keynote Shocks Industry, Leaving Retik Finance’s Listing the Dust
With the Retik Finance launch coming up, BlockDAG has captured investor attention with its revolutionary approach and impressive $28.5 million raised in its latest presale. A pivotal event at Shibuya Crossing in Japan showcased BlockDAG’s commitment to accessible and efficient crypto mining, appealing to both new and experienced miners with its user-friendly and energy-efficient home mining The post $28.5M Presale: BlockDAG’s Shibuya Keynote Shocks Industry, Leaving Retik Finance’s Listing the Dust appeared first on Times Tabloid - Latest Cryptocurrency News, Bitcoin (BTC) News, Ethereum (ETH) News, Shiba Inu (SHIB) News, Ripple's XRP News .
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