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With the year 2024, there are many things to look forward to in the crypto industry. After all, the previous year, or at least the second half of the year brought a significant bull run, with several cryptocurrencies either regaining lost ground or outperforming their peak values. There are many questions regarding the upcoming years for the market, with many still wondering if the industry will re-capture the previously achieved heights
The year has also is likely to reinforce and maintain some major developments throughout the crypto and blockchain sectors, including the rise of GameFi and a global interest in crypto regulations. In this article, we will be looking at some of the biggest crypto trends, some of which were established in the year 2023, and of course maintained currently, in 2024. On top of this, we will be making a few predictions about what could dominate the industry over the coming months.
With the year 2024, there are many things to look forward to in the crypto industry. After all, the previous year, or at least the second half of the year brought a significant bull run, with several cryptocurrencies either regaining lost ground or outperforming their peak values. There are many questions regarding the upcoming years for the market, with many still wondering if the industry will re-capture the previously achieved heights
The year has also is likely to reinforce and maintain some major developments throughout the crypto and blockchain sectors, including the rise of GameFi and a global interest in crypto regulations. In this article, we will be looking at some of the biggest crypto trends, some of which were established in the year 2023, and of course maintained currently, in 2024. On top of this, we will be making a few predictions about what could dominate the industry over the coming months.
#pizzaday
Arbitrum (ARB) Reaches 24 Million Unique Addresses The number of unique Arbitrum (ARB) addresses reached an all-time high in May due to the large influx of users to the network. A tweet from the network's official X page said that there are now over 24 million unique addresses on the Arbitrum network.
One of the reasons for the growth of Arbitrum is the direct targeting of developers who have started launching their decentralized apps on Arbitrum. While the Arbitrum network is growing, its native token, ARB, is down the weekly and monthly charts with losses of 4.3% and 12.7%.
Arbitrum (ARB) Reaches 24 Million Unique Addresses The number of unique Arbitrum (ARB) addresses reached an all-time high in May due to the large influx of users to the network. A tweet from the network's official X page said that there are now over 24 million unique addresses on the Arbitrum network.
One of the reasons for the growth of Arbitrum is the direct targeting of developers who have started launching their decentralized apps on Arbitrum. While the Arbitrum network is growing, its native token, ARB, is down the weekly and monthly charts with losses of 4.3% and 12.7%.
#pizzaday
The Future of Grayscale’s Ethereum Trust
Despite the prevailing optimism, some concerns remain regarding these new ETFs’ impact on existing products like the Grayscale Ethereum Trust, currently holding more than $11.3 billion. In addition, the trust could witness a major outflow since investors might prefer the new ETFs.
Historically, Grayscale’s Bitcoin Trust experienced outflows when converted to ETF form. Major players, like VanEck, BlackRock, Fidelity, Grayscale, Franklin Templeton, ARK 21Shares, Bitwise, and Invesco Galaxy, have received their regulatory approval on Thursday, May 23, which sheds light on a strong lineup that is currently poised to meet the market demand. However, the only applicant who did not receive approval on that day was Hashdex, highlighting the competitive and complex nature of the ETF approval process.
The Future of Grayscale’s Ethereum Trust
Despite the prevailing optimism, some concerns remain regarding these new ETFs’ impact on existing products like the Grayscale Ethereum Trust, currently holding more than $11.3 billion. In addition, the trust could witness a major outflow since investors might prefer the new ETFs.
Historically, Grayscale’s Bitcoin Trust experienced outflows when converted to ETF form. Major players, like VanEck, BlackRock, Fidelity, Grayscale, Franklin Templeton, ARK 21Shares, Bitwise, and Invesco Galaxy, have received their regulatory approval on Thursday, May 23, which sheds light on a strong lineup that is currently poised to meet the market demand. However, the only applicant who did not receive approval on that day was Hashdex, highlighting the competitive and complex nature of the ETF approval process.
#pizzaday
Despite the US Securities and Exchange Commission (SEC) granting historic approvals for eight Ethereum-based exchange-traded funds (ETFs), Ethereum has not breached the $4,000 mark.
Following the SEC’s decision, Ethereum’s (ETH) price spiked to nearly $3,900 but quickly receded to approximately $3,720. As of this writing, the price has somewhat stabilized, hovering around $3,800.
Despite the US Securities and Exchange Commission (SEC) granting historic approvals for eight Ethereum-based exchange-traded funds (ETFs), Ethereum has not breached the $4,000 mark.
Following the SEC’s decision, Ethereum’s (ETH) price spiked to nearly $3,900 but quickly receded to approximately $3,720. As of this writing, the price has somewhat stabilized, hovering around $3,800.
#pizzaday
In addition, this message has ignited speculation among Shiba Inu investors and enthusiasts, suggesting that the meme coin might follow in Ethereum’s footsteps with its own ETF. The SEC’s approval of the Ethereum ETFs was unexpected, given the agency’s recent inactivity in engaging with issuers.
Hence, the eight approved ETFs include offerings from financial heavyweights such as VanEck, BlackRock, Fidelity, Grayscale, Franklin Templeton, ARK 21Shares, Invesco Galaxy, and Bitwise. These ETFs will be listed on major exchanges including CBOE, NYSE ARCA, and NASDAQ. Moreover, it’ll broaden Ethereum’s accessibility to a wider range of investors.
In addition, this message has ignited speculation among Shiba Inu investors and enthusiasts, suggesting that the meme coin might follow in Ethereum’s footsteps with its own ETF. The SEC’s approval of the Ethereum ETFs was unexpected, given the agency’s recent inactivity in engaging with issuers.
Hence, the eight approved ETFs include offerings from financial heavyweights such as VanEck, BlackRock, Fidelity, Grayscale, Franklin Templeton, ARK 21Shares, Invesco Galaxy, and Bitwise. These ETFs will be listed on major exchanges including CBOE, NYSE ARCA, and NASDAQ. Moreover, it’ll broaden Ethereum’s accessibility to a wider range of investors.
#ETHETFsApproved
Coinbase CLO Paul Grewal shed light on the SEC’s approval of eight spot Ethereum ETF applications, highlighting Ethereum’s status as a commodity. Grewal noted that this decision strengthens Ethereum’s recognition as a commodity, a notion shared by the Commodity Futures Trading Commission and federal courts. Moreover, this approval signals the upcoming trading of Ethereum on Wall Street and marks a major milestone for institutional development. However, trading is expected to commence only after the S-1 documents are approved, which might require several weeks.
Coinbase CLO Paul Grewal shed light on the SEC’s approval of eight spot Ethereum ETF applications, highlighting Ethereum’s status as a commodity. Grewal noted that this decision strengthens Ethereum’s recognition as a commodity, a notion shared by the Commodity Futures Trading Commission and federal courts. Moreover, this approval signals the upcoming trading of Ethereum on Wall Street and marks a major milestone for institutional development. However, trading is expected to commence only after the S-1 documents are approved, which might require several weeks.
#ETHETFsApproved
The U.S. Securities and Exchange Commission (SEC) has signaled approval for the potential launch of eight Ethereum-linked ETFs.
Nvidia soars to record levels on stock market amid anticipation of increased demand for AI chips.
The U.S. Securities and Exchange Commission (SEC) has signaled approval for the potential launch of eight Ethereum-linked ETFs.
Nvidia soars to record levels on stock market amid anticipation of increased demand for AI chips.
#ETHETFsApproved
Ethereum ETF Approval Could See $500M Inflow From Institutional Investors, According to OKX
Ethereum ETF Approval Could See $500M Inflow From Institutional Investors, According to OKX
#ETHETFsApproved
Ether (ETH) could surge to retest the $5,000 price mark it fell short of in 2021 if three long-term indicators continue flashing, says one crypto trader.
“The dominance chart suggests we’re entering an ‘ETH Season’ where Ethereum is likely to outperform other cryptocurrencies,” pseudonymous crypto trader Blockchain Mane told Cointelegraph.
It follows the Securities and Exchange Commission’s May 23 initial approval of eight spot Ether exchange-traded funds (ETFs).
TradingView data shows ETH’s dominance — its share of the crypto market — jumped 19.56% over the past seven days after reports surfaced the SEC was pivoting from its hard stance on ETF approvals.
Ether (ETH) could surge to retest the $5,000 price mark it fell short of in 2021 if three long-term indicators continue flashing, says one crypto trader.
“The dominance chart suggests we’re entering an ‘ETH Season’ where Ethereum is likely to outperform other cryptocurrencies,” pseudonymous crypto trader Blockchain Mane told Cointelegraph.
It follows the Securities and Exchange Commission’s May 23 initial approval of eight spot Ether exchange-traded funds (ETFs).
TradingView data shows ETH’s dominance — its share of the crypto market — jumped 19.56% over the past seven days after reports surfaced the SEC was pivoting from its hard stance on ETF approvals.
#ETHETFsApproved
The US Securities and Exchange Commission (SEC) has accepted Ethereum Exchange-Traded Fund (ETF) applications from some of the world's leading asset managers, a milestone for ETH and the crypto industry.The SEC's filing approves all eight Ethereum ETF applications. Major financial institutions BlackRock, Grayscale, Bitwise, VanEck, Ark Invest, 21Shares, Invesco Galaxy, Fidelity, and Franklin Templeton submitted these.
These recommendations fulfill Exchange Act Section 6(b)(5) standards to prevent fraud and manipulation, protect investors, and defend public interest, according to the SEC.
Prior to the 30-day notice period, permission was granted. Recent filing modifications clarified and reassured. The SEC's fast clearance shows its confidence in the plans' regulatory compliance.
The SEC's decision expands institutional and retail Ethereum investing options and implies a change in cryptocurrency regulation.
The clearance may affect the SEC's categorization of Ethereum as a commodity, which was vital to Bitcoin ETF certification earlier this year.
US SEC Chair Gary Gensler says Bitcoin is a commodity under the Howey test, but many experts think it needs upgrading for better crypto regulation.
Institutional investment in Ethereum may increase with SEC permission, stabilizing and accepting the market. It may also encourage other regulatory authorities globally to standardize crypto legislation. This might lead to new cryptocurrency financial products, giving investors additional alternatives.
The SEC's action advances crypto mainstreaming. Ethereum ETFs should increase market liquidity and transparency, making Ethereum trading simpler for investors. This shows the necessity of legislative certainty in securing and dependable digital asset markets.
The US Securities and Exchange Commission (SEC) has accepted Ethereum Exchange-Traded Fund (ETF) applications from some of the world's leading asset managers, a milestone for ETH and the crypto industry.The SEC's filing approves all eight Ethereum ETF applications. Major financial institutions BlackRock, Grayscale, Bitwise, VanEck, Ark Invest, 21Shares, Invesco Galaxy, Fidelity, and Franklin Templeton submitted these.
These recommendations fulfill Exchange Act Section 6(b)(5) standards to prevent fraud and manipulation, protect investors, and defend public interest, according to the SEC.
Prior to the 30-day notice period, permission was granted. Recent filing modifications clarified and reassured. The SEC's fast clearance shows its confidence in the plans' regulatory compliance.
The SEC's decision expands institutional and retail Ethereum investing options and implies a change in cryptocurrency regulation.
The clearance may affect the SEC's categorization of Ethereum as a commodity, which was vital to Bitcoin ETF certification earlier this year.
US SEC Chair Gary Gensler says Bitcoin is a commodity under the Howey test, but many experts think it needs upgrading for better crypto regulation.
Institutional investment in Ethereum may increase with SEC permission, stabilizing and accepting the market. It may also encourage other regulatory authorities globally to standardize crypto legislation. This might lead to new cryptocurrency financial products, giving investors additional alternatives.
The SEC's action advances crypto mainstreaming. Ethereum ETFs should increase market liquidity and transparency, making Ethereum trading simpler for investors. This shows the necessity of legislative certainty in securing and dependable digital asset markets.
The end of the dependence on Bitcoin according to Charles Hoskinson
In a recent interview, Charles Hoskinson, the founder of Cardano, stated that “the cryptocurrency industry no longer needs Bitcoin to continue growing.” This statement contrasts with the traditional view that places Bitcoin at the heart of the cryptocurrency ecosystem. Hoskinson argues that Bitcoin, with its proof-of-work consensus mechanism, is no longer in sync with the technological advancements needed to meet current demands for scalability and sustainability. He compares the persistent attachment to Bitcoin to a form of “religion.”
In addition to challenging Bitcoin’s status, Charles Hoskinson criticized its underlying methodology, particularly its proof-of-work consensus mechanism, which he considers obsolete and energy-consuming. Hoskinson’s comments highlight a growing debate within the crypto community about the need to adopt more advanced and energy-efficient technologies to ensure the industry’s long-term sustainability.
In a recent interview, Charles Hoskinson, the founder of Cardano, stated that “the cryptocurrency industry no longer needs Bitcoin to continue growing.” This statement contrasts with the traditional view that places Bitcoin at the heart of the cryptocurrency ecosystem. Hoskinson argues that Bitcoin, with its proof-of-work consensus mechanism, is no longer in sync with the technological advancements needed to meet current demands for scalability and sustainability. He compares the persistent attachment to Bitcoin to a form of “religion.”
In addition to challenging Bitcoin’s status, Charles Hoskinson criticized its underlying methodology, particularly its proof-of-work consensus mechanism, which he considers obsolete and energy-consuming. Hoskinson’s comments highlight a growing debate within the crypto community about the need to adopt more advanced and energy-efficient technologies to ensure the industry’s long-term sustainability.
#pizzaday
Immutable (IMX) Price Movement and Future Predictions
Immutable (IMX) has been ranging between $1.96 and $2.54 recently. The nearest resistance is at $2.83 and support at $1.69. In one week, IMX’s price went up by almost 7%, and over a month, it climbed more than 5%. An impressive rise is seen over six months, with a jump of over 76%. The coin’s moves show more of a steady climb than quick jumps or falls. With the RSI indicating a neutral state and a MACD close to zero, the current trend looks more impulsive. With solid gains in the past, Immutable might test the nearest resistance again soon.
Immutable (IMX) Price Movement and Future Predictions
Immutable (IMX) has been ranging between $1.96 and $2.54 recently. The nearest resistance is at $2.83 and support at $1.69. In one week, IMX’s price went up by almost 7%, and over a month, it climbed more than 5%. An impressive rise is seen over six months, with a jump of over 76%. The coin’s moves show more of a steady climb than quick jumps or falls. With the RSI indicating a neutral state and a MACD close to zero, the current trend looks more impulsive. With solid gains in the past, Immutable might test the nearest resistance again soon.
#pizzaday
Bonk (BONK) Breaks Out Amid High Demand
Bonk (BONK) is currently priced between $0.00002163 and $0.00002854. It has seen a significant rise over time with a 38.55% increase in the past week, and a whopping 729.00% jump over the past six months. The coin’s value moved past the simple 10-day average of $0.00003316 but dropped below the 100-day average of $0.00002971. With a high RSI of 67.82 and Stochastic at 85.44, the movement seems strong. However, watch closely as it approaches the next resistance at $0.00003188; it may face challenges rising above that. The rising MACD level hints at an impulsive uptrend, suggesting that the current movement is driven by strong buyer interest.
Bonk (BONK) Breaks Out Amid High Demand
Bonk (BONK) is currently priced between $0.00002163 and $0.00002854. It has seen a significant rise over time with a 38.55% increase in the past week, and a whopping 729.00% jump over the past six months. The coin’s value moved past the simple 10-day average of $0.00003316 but dropped below the 100-day average of $0.00002971. With a high RSI of 67.82 and Stochastic at 85.44, the movement seems strong. However, watch closely as it approaches the next resistance at $0.00003188; it may face challenges rising above that. The rising MACD level hints at an impulsive uptrend, suggesting that the current movement is driven by strong buyer interest.
#pizzaday
Arbitrum (ARB) Price Moves: What’s Next?
Arbitrum (ARB) has seen a mix of ups and downs. In the past week, ARB grew by 18.31% but it actually fell slightly by 2.80% over the last month. Over six months, the coin managed an increase of 11.97%. ARB now trades between $0.91 and $1.06. It’s above the 10-day average price of $1.16, but still lower than the 100-day average of $1.09. The RSI is near 58, suggesting moderate movement, while a high stochastic value points to possible overbuying. With strong momentum signs from the MACD, ARB could be ready for more action. Watch for a push towards resistance at $1.14, but if it falls, it might find support at $0.84.
Arbitrum (ARB) Price Moves: What’s Next?
Arbitrum (ARB) has seen a mix of ups and downs. In the past week, ARB grew by 18.31% but it actually fell slightly by 2.80% over the last month. Over six months, the coin managed an increase of 11.97%. ARB now trades between $0.91 and $1.06. It’s above the 10-day average price of $1.16, but still lower than the 100-day average of $1.09. The RSI is near 58, suggesting moderate movement, while a high stochastic value points to possible overbuying. With strong momentum signs from the MACD, ARB could be ready for more action. Watch for a push towards resistance at $1.14, but if it falls, it might find support at $0.84.
#pizzaday
BNB Price Analysis and Forecast
BNB is trading between $557.70 and $595 with a recent climb. It’s pushing towards the first big challenge at $615.40, with support not far below at $540.80. In one week, BNB jumped 5.53%, and over six months, it surged an impressive 163.72%. Although the short-term price shows a smaller increase of 1.55% in a month, the averages suggest it’s slightly below the usual with the 10-day at $614.96 against the 100-day at $599.12. The RSI at 47.70 and the MACD just under zero hint at a balance between buyers and sellers. BNB could soon try to break past the looming $615.40 mark, maybe aiming for the second resistance at $652.70 if buyers keep control. The price movement is hesitant but could tip towards growth.
BNB Price Analysis and Forecast
BNB is trading between $557.70 and $595 with a recent climb. It’s pushing towards the first big challenge at $615.40, with support not far below at $540.80. In one week, BNB jumped 5.53%, and over six months, it surged an impressive 163.72%. Although the short-term price shows a smaller increase of 1.55% in a month, the averages suggest it’s slightly below the usual with the 10-day at $614.96 against the 100-day at $599.12. The RSI at 47.70 and the MACD just under zero hint at a balance between buyers and sellers. BNB could soon try to break past the looming $615.40 mark, maybe aiming for the second resistance at $652.70 if buyers keep control. The price movement is hesitant but could tip towards growth.
#pizzaday
BlastUP Presale Hits $6 Million, Investors Hurry to Buy $BLP Before May EndsThe ongoing BlastUP presale is close to completion, as it has already passed the important threshold: over $6 million have been raised so far. More than 15,000 savvy investors have already bought BlastUP tokens before their value skyrockets.
The presale runs until the end of May, so there is some time to boost your crypto holdings with BlastUP, the asset poised for explosive returns of up to 1000%. Currently sold at a few US cents, BlastUP tokens are projected to reach $10 by the end of this year.
BlastUP Presale Hits $6 Million, Investors Hurry to Buy $BLP Before May EndsThe ongoing BlastUP presale is close to completion, as it has already passed the important threshold: over $6 million have been raised so far. More than 15,000 savvy investors have already bought BlastUP tokens before their value skyrockets.
The presale runs until the end of May, so there is some time to boost your crypto holdings with BlastUP, the asset poised for explosive returns of up to 1000%. Currently sold at a few US cents, BlastUP tokens are projected to reach $10 by the end of this year.
What is the difference between a crypto wallet and a crypto vault?
Crypto wallets are designed for convenient transactions, while crypto vaults offer enhanced security for long-term storage of larger amounts.
Crypto wallets, whether hot (online) or cold (offline), are primarily designed for regular transactions and managing smaller amounts of cryptocurrency. They prioritize convenience and ease of use, allowing users to quickly send, receive and manage their assets. However, their constant connection to the internet or potential vulnerability to physical theft makes them more susceptible to hacking attempts and unauthorized access.
Crypto vaults, on the other hand, function as fortified digital safes, prioritizing security above all else. They employ multiple layers of protection, including offline storage, multisignature authentication, withdrawal delays and advanced encryption. This makes them significantly more resilient against hacking, phishing and other online threats. Crypto vaults are ideal for storing large amounts of cryptocurrency for the long term, as they offer enhanced security and peace of mind.
Crypto wallets are designed for convenient transactions, while crypto vaults offer enhanced security for long-term storage of larger amounts.
Crypto wallets, whether hot (online) or cold (offline), are primarily designed for regular transactions and managing smaller amounts of cryptocurrency. They prioritize convenience and ease of use, allowing users to quickly send, receive and manage their assets. However, their constant connection to the internet or potential vulnerability to physical theft makes them more susceptible to hacking attempts and unauthorized access.
Crypto vaults, on the other hand, function as fortified digital safes, prioritizing security above all else. They employ multiple layers of protection, including offline storage, multisignature authentication, withdrawal delays and advanced encryption. This makes them significantly more resilient against hacking, phishing and other online threats. Crypto vaults are ideal for storing large amounts of cryptocurrency for the long term, as they offer enhanced security and peace of mind.
JUST IN: SEC informs exchanges it is leaning towards approving spot #Ethereum ETFs, Barrons reports.
Ethereum Withdrawals: Whales Trigger Surge in Withdrawals
Ethereum is experiencing a notable surge in withdrawals, primarily driven by institutional investors or whales. Recently, Ethereum whales have been orchestrating massive withdrawals from exchanges, setting new records and injecting optimism into the market. In a single 24-hour period, four wallets withdrew a combined 78,301 ETH, valued at approximately $231.2 million. Notably, wallets labelled “0xF7f” and “0xE51” each withdrew 30,440 ETH, amounting to around $90 million.
Following a notable transaction, a major investor withdrew 23,27.76 ETH, worth about $67.83 million, from Coinbase. Over four days, their total withdrawals amounted to 30,870 ETH, valued at approximately $89.7 million. These substantial transactions by key players have led to discussions about their possible influence on Ethereum’s price direction.
Ethereum is experiencing a notable surge in withdrawals, primarily driven by institutional investors or whales. Recently, Ethereum whales have been orchestrating massive withdrawals from exchanges, setting new records and injecting optimism into the market. In a single 24-hour period, four wallets withdrew a combined 78,301 ETH, valued at approximately $231.2 million. Notably, wallets labelled “0xF7f” and “0xE51” each withdrew 30,440 ETH, amounting to around $90 million.
Following a notable transaction, a major investor withdrew 23,27.76 ETH, worth about $67.83 million, from Coinbase. Over four days, their total withdrawals amounted to 30,870 ETH, valued at approximately $89.7 million. These substantial transactions by key players have led to discussions about their possible influence on Ethereum’s price direction.