Bitcoin is back above $70,000 for the first time in over a month as investors throw money at ETFs again—and hype over Ethereum ETFs grows.
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Bitcoin Transaction Volume Hits All-Time Low, BTC Price Drop Likely?
While the Bitcoin (BTC) price has struggled to surge past $70,000 levels convincingly altcoins have been making big moves in the market currently. On-chain indicators suggest that the trading interest in Bitcoin has dropped considerably, hinting at a potential price drop ahead. Bitcoin (BTC) Transactions Volumes See Major Drop Bitcoin has hit an all-time low The post Bitcoin Transaction Volume Hits All-Time Low, BTC Price Drop Likely? appeared first on CoinGape .
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XRP Price: Whales Move 80M Coins Post Massive Escrow Movements, What’s Next?
In a gripping turn of events, XRP, the Ripple Labs-backed cryptocurrency, has taken crypto investors by storm with massive whale movements post attention-nabbing escrow transactions and price volatility. On-chain data showcases that nearly 80 million coins were shuffled against the backdrop of billions of XRP escrow locks and unlocks recorded over the weekend. This dramatic The post XRP Price: Whales Move 80M Coins Post Massive Escrow Movements, What’s Next? appeared first on CoinGape .
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Popular Crypto Trader Sets Bold Bitcoin Price Targets, Eyes for $79k
The post Popular Crypto Trader Sets Bold Bitcoin Price Targets, Eyes for $79k appeared first on Coinpedia Fintech News Crypto markets are still grappling with ups and downs, keeping traders and investors on their toes about what might happen next. Yesterday saw a slight uptick, with the global crypto market cap reaching $2.54 trillion, a 0.35% increase. Despite the turbulence, Bitcoin has managed to top the $68,687 mark, showing a 1.37% rise over the …
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Notcoin (NOT) Price Reaches All-Time High; Surges Over 350% in a Week
The post Notcoin (NOT) Price Reaches All-Time High; Surges Over 350% in a Week appeared first on Coinpedia Fintech News Telegram-based cryptocurrency Notcoin (NOT) has reached an exceptional weekly rally to over 350%, an unexpected level. Surrounded by a generally static crypto market, Notcoin stands out by surging an additional 40% on Sunday, resulting in its all-time high of $0.027. The current value of NOT is $0.02373, and its market cap is $2.439 billion. In …
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Ripple CTO Discusses Ripple’s Strategy to Attract Institutions to DeFi
At the recent CoinDesk Consensus 2024 conference, Ripple’s Chief Technology Officer, David Schwartz, provided insights into the company’s recently announced roadmap for integrating large institutions into the decentralized finance (DeFi) space. Schwartz emphasized that Ripple’s strategy aims to enable traditional financial institutions to create and offer regulated financial products that can seamlessly interact with DeFi The post Ripple CTO Discusses Ripple’s Strategy to Attract Institutions to DeFi 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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Is This The Ethereum Endgame? Investors Pull $3 Billion From Exchanges
The winds of change are blowing through the Ethereum ecosystem. Since the long-awaited approval of spot Ether ETFs in the US on May 23rd, a quiet exodus of Ether has been underway. A massive amount of the world’s second-largest cryptocurrency, or around $3 billion, has vanished from centralized exchanges, marking the lowest level of Ether reserves in years. This flight of the digital asset has analysts buzzing with the possibility of a supply squeeze, potentially propelling Ether to new heights. Related Reading: Ethereum On Edge: Can Ether Smash Through Resistance Or Stall After Rally? Exodus To Self-Custody: A Bullish Signal? Crypto analyst Ali Martinez reported on X in a recent post that since the US legalized spot Ethereum ETF products, nearly 777,000 ETH, or almost $3 billion, have been removed from cryptocurrency exchanges. Even if the Ether ETF products haven’t formally begun trading on exchanges yet, the continuation of this trend could have a significant impact on how ETH prices behave over time. Since the @SECGov approved spot #Ethereum ETFs, approximately 777,000 $ETH — valued at about $3 billion — have been withdrawn from #crypto exchanges! pic.twitter.com/EzQVC0cw27 — Ali (@ali_charts) June 2, 2024 Traditionally, high reserves on exchanges have indicated a selling-heavy market, with investors readily offloading their holdings. The current situation, however, paints a different picture. Analysts suggest this mass exodus signifies a shift in investor sentiment. Many are moving their Ether to personal wallets, a move known as self-custody, indicating a long-term bullish outlook. The low exchange reserves suggest investors are treating Ether not just as a trading asset, but as a potential store of value, says Michael Nadeau, a DeFi report crypto analyst. This shift in mindset, coupled with the potential for increased demand from ETFs, could create a perfect storm for a price surge. The Ethereum network itself may also be contributing to the supply squeeze. Unlike Bitcoin miners who face constant operational costs, Ethereum validators, responsible for securing the network under the Proof-of-Stake model, don’t have the same financial pressure to sell their holdings. This lack of “structural sell pressure,” as Nadeau terms it, further restricts the readily available supply of Ether. Ethereum ETF Launch: A Double-Edged Sword? The upcoming launch of Ether ETFs in late June adds another layer of intrigue. The success of spot Bitcoin ETFs in January, which saw a significant price increase for Bitcoin, serves as a potential roadmap for Ether. Analysts predict a similar demand surge, pushing the price of Ether towards, or even beyond, its all-time high of $4,871 set in November 2021. However, a potential roadblock exists in the form of Grayscale’s Ethereum Trust (ETHE), a massive investment vehicle currently holding a staggering $11 billion worth of Ether. If Grayscale decides to follow suit with its Bitcoin Trust (GBTC), which experienced over $6 billion in outflows after the launch of spot Bitcoin ETFs, it could dampen the price increase. Related Reading: Worrying Signs For XRP: Price Tumbles As Demand Dries Up Buckle Up For A Bumpy Ride? While the future remains uncertain, the current market conditions present a fascinating scenario for Ether. The combination of a shrinking supply and the potential influx of demand from ETFs paints a picture of a potential bull run. However, the wildcard of Grayscale’s actions and the broader market sentiment inject a dose of caution. Featured image from Current Affairs-Adda247, chart from TradingView
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Notcoin Crypto Price Soars With Huge Margin: Has NOT Season Just Begun?
The post Notcoin Crypto Price Soars With Huge Margin: Has NOT Season Just Begun? appeared first on Coinpedia Fintech News Notcoin crypto has displayed some magnificent moves during the past weekend, due to which NOT price has been the focus of attention. The remarkable 120% surge since the start of the month has been one of the biggest moves by a contemporary token. The market participants may expect a good entry point, but the price …
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