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Ethereum (ETH) Contract Holdings Hit Record $14 Billion. Ethereum (ETH) contract holdings have surpassed $14 billion, reaching a record high. This data, reported by CoinGlass, hig hlights significant contributions from leading exchanges: Binance with $5.54 billion, Bybit with $3.1 billion and OKX with $2 billion. Despite this impressive dollar value, the total ETH contract holdings amount to 3.83 million ETH, which is still below the five million ETH peak seen in 2022. The surge in ETH contract holdings coincides with a substantial spike in Ethereum's price, which jumped 18.53% in the past 24 hours, reaching $3,676. This price increase for Ethereum has been accompanied by a dramatic rise in 24-hour trading volume, up 247.20%, now standing at $38.73 billion. Potential Ethereum ETF approval. This latest surge in ETH's price and contract holdings comes amid heightened speculation about the potential approval of spot Ethereum exchange-traded funds (ETFs) by May 23. This optimism follows months of skepticism regarding the approval of such financial products. Bloomberg ETF analysts Eric Balchunas and James Seyffart have reported that there has been significant chatter suggesting that the United States Securities and Exchange Commission (SEC) is encouraging applicants to expedite their 19b-4 filings. This has led the analysts to increase their estimated odds of ETF approval from 25% to 75%. The potential approval of spot Ethereum ETFs could have substantial implications for the cryptocurrency market. ETFs are seen as a bridge to institutional investors, providing a more accessible and regulated way to invest in cryptocurrencies. An approval could lead to a significant influx of institutional capital into the Ethereum market, further driving up prices and trading volumes. The current record high in ETH contract holdings reflects growing confidence among traders and investors in the future of Ethereum. The cryptocurrency's recent performance shows its pivotal role in the broader cryptocurrency ecosystem. As the second-largest coin by market capitalization.

Ethereum (ETH) Contract Holdings Hit Record $14 Billion.

Ethereum (ETH) contract holdings have surpassed $14 billion, reaching a record high. This data, reported by CoinGlass, hig hlights significant contributions from leading exchanges: Binance with $5.54 billion, Bybit with $3.1 billion and OKX with $2 billion. Despite this impressive dollar value, the total ETH contract holdings amount to 3.83 million ETH, which is still below the five million ETH peak seen in 2022.

The surge in ETH contract holdings coincides with a substantial spike in Ethereum's price, which jumped 18.53% in the past 24 hours, reaching $3,676. This price increase for Ethereum has been accompanied by a dramatic rise in 24-hour trading volume, up 247.20%, now standing at $38.73 billion.

Potential Ethereum ETF approval.

This latest surge in ETH's price and contract holdings comes amid heightened speculation about the potential approval of spot Ethereum exchange-traded funds (ETFs) by May 23. This optimism follows months of skepticism regarding the approval of such financial products.

Bloomberg ETF analysts Eric Balchunas and James Seyffart have reported that there has been significant chatter suggesting that the United States Securities and Exchange Commission (SEC) is encouraging applicants to expedite their 19b-4 filings. This has led the analysts to increase their estimated odds of ETF approval from 25% to 75%.

The potential approval of spot Ethereum ETFs could have substantial implications for the cryptocurrency market. ETFs are seen as a bridge to institutional investors, providing a more accessible and regulated way to invest in cryptocurrencies. An approval could lead to a significant influx of institutional capital into the Ethereum market, further driving up prices and trading volumes.

The current record high in ETH contract holdings reflects growing confidence among traders and investors in the future of Ethereum. The cryptocurrency's recent performance shows its pivotal role in the broader cryptocurrency ecosystem. As the second-largest coin by market capitalization.

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12.4 Billion Dogecoin (DOGE) in 24 Hours, Price Reacts. Dogecoin (DOGE) is yet to recover from the tribute Elon Musk paid to Kabosu, the dog that inspired the creation of the meme coin. Since Musk's posts relating to DOGE are a major growth booster, the coin has seen a bump in some of its key metrics. At the time of writing, Dogecoin is changing hands for $0.167, up by 3.67% in the past 24 hours, growth coming at a time when Bitcoin's price has entered consolidation mode, however, with a 2.67% surge to $69,218.58. The Dogecoin growth over the past week has not followed a uniform pattern. In this time span, the coin has soared 7.72% despite seeing a slip in its trading volume. At the moment, DOGE boasts of a 37.3% slip in trading volume to $2,026,640,330. This traded volume implies a total of 12.4 billion DOGE changing hands in a day. Despite the slight slump in this metric, the positive price reaction shows the hidden hunger in the price. Dogecoin remains highly susceptible to posts from Elon Musk and other influencers to rally. This has been showcased prominently throughout its lifespan as Dogecoin saw a massive uptick when Elon Musk changed the X logo at some point to the DOGE mascot. Amid the sustained legacy of Dogecoin, one crucial expectation is that the proposed X Payments will integrate DOGE payments and provide a unique utility for the coin across the board. While neither Elon Musk nor the platform has officially confirmed this, the affinity the billionaire has for the coin might make him enlist DOGE should crypto payments feature in the everything app he is building. Amid the growing push in the DOGE ecosystem, the ultimate price expectation is that Dogecoin will return back to the $0.2 price mark in the midterm and $0.7 in the longer term.
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Ethereum derivatives will witness a significant increase in the coming period, layer2.. Defi.. RWA, as an example of decentralized platform currencies. There are a few reasons why we might see a surge in this area: Layer 2 Scaling: Ethereum's scalability limitations are being addressed by Layer 2 solutions, which can handle transactions faster and cheaper. This will make derivatives trading on Ethereum more efficient and attractive. DeFi (Decentralized Finance): DeFi platforms are already using Ethereum derivatives for various purposes, such as hedging and leverage. As DeFi continues to grow, the demand for Ethereum derivatives is likely to increase as well. Real-World Assets (RWAs): Bringing real-world assets like stocks and bonds onto the blockchain using Ethereum derivatives is a promising area of development. This could open up entirely new markets for Ethereum derivatives. Overall, the combination of Layer 2 scaling, DeFi adoption, and RWA integration creates a strong case for the growth of Ethereum derivatives.
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Cardano Founder Drops Surprising Dogecoin, Bitcoin Insight. In an homage to the beloved Shiba Inu Kabosu, who recently passed away, Cardano founder Charles Hoskinson has posted a memetic statement that resonates deeply within the crypto community. In a tweet, Hoskinson posted a GIF image that captioned "I have been and will always be your friend," to which he wrote, "Doge to Bitcoin." The Cardano founder was responding to a post on the passing of Kabosu. Kabosu, the face of Dogecoin and the iconic "Doge" meme, left a paw print on the hearts of many. Her passing has been felt across the internet, uniting diverse communities in remembrance of the joy she brought to the world. The Japanese Shiba Inu inspired a generation of online jokes after her skeptical glance became a symbol of internet humor in 2010. The recent comment by the Cardano founder not only pays tribute to Kabosu's legacy but also highlights the camaraderie that exists within the crypto space. The Cardano founder's memetic statement would be essentially true considering the relationship between Dogecoin and Bitcoin. In 2013, two software programmers, Jackson Palmer and Billy Markus, were inspired by the simplicity of Bitcoin to create Dogecoin, a parody cryptocurrency. Given that DOGE was originally a joke copy of Bitcoin, and used a significant portion of Bitcoin's source code, the two cryptocurrencies share a lot in common. For example, both Bitcoin and Dogecoin use a proof-of-work (PoW) consensus mechanism involving miners. Transactions on a proof-of-work blockchain are stored in blocks. Once a block is full, a group of devoted users regarded as miners start to validate it. However, several changes have been implemented throughout time, causing Dogecoin and Bitcoin to differ more than they might appear at first.
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DOGE Price Prediction for May 25. DOGE/USD. The rate of DOGE has increased by 2.38% over the last 24 hours. On the hourly chart, the price of DOGE is in the middle of the narrow channel between the support of $0.1627 and the resistance of $0.1697. If buyers seize the initiative and the bar closes near $0.17, the breakout may lead to the $0.1750 zone. On the bigger time frame, neither side is dominating as the rate is far from the main levels. Respectively, any sharp moves are unlikely to happen soon. All in all, ongoing sideways trading in the range of $0.16-$0.17 is the more likely scenario. From the midterm point of view, traders should focus on the weekly bar closure. If it happens near its peak, the upward move may continue to the $0.18-$0.20 area. DOGE is trading at $0.1649 at press time.
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