Yesterday the CEO of Ripple Labs, Brad Garlinghouse, made positive predictions regarding spot XRP ETFs. 

Speaking at Fox Business Tuesday, he stated that he believes it is inevitable that a spot XRP ETF will eventually be approved in the USA, but he also said that it will be necessary to wait at least until 2025.

The ETF on XRP: the forecasts of the CEO of Ripple

Currently on the USA stock exchanges, only the spot Bitcoin ETFs are listed.

However, those on Ethereum have also already been approved, which should be listed between the end of June and the beginning of July.

At the current state, there is no news of other crypto spot ETFs in the process of approval, but if those on TH were to achieve good success, it seems inevitable that someone would decide to launch others on some altcoin.

To tell the truth, the cryptocurrency that seems to be in pole position to follow ETH on this path is SOL from Solana, but if the approval process for those on Bitcoin has already been troubled, it might not be a walk in the park to complete it for the altcoins.

The fact, however, that the SEC this time opted for a first-time approval of the spot Ethereum ETFs is a good sign for altcoins as well, in this sense.

Besides Solana, there are also other altcoins that could end up benefiting from this type of derivative products on traditional exchanges. 

Some, however, like BNB or TON, might have a few more problems due to the legal issues they had in the past with the US authorities from the companies behind them, namely Binance and Telegram.

Dogecoin and Shiba Inu seem unlikely to have a spot ETF on traditional exchanges, and as for Cardano’s ADA, the trading volumes are definitely too low to think that anyone would bother to create and manage an ETF. A similar argument applies to Avalanche’s AVAX. 

Remains XRP, which despite having daily trading volumes equal to about half of those of SOL, has at least the advantage of having been declared by a court a commodity in fact when traded on secondary markets, such as exchanges or stock exchanges. 

So after SOL, in fact, XRP could be the main suspect to have a spot ETF on the US exchanges. 

The statements of the CEO of Ripple

Obviously the CEO of Ripple, the company that created and launched XRP, is not at all an impartial source of news. Furthermore, in the past, he has already been the protagonist of statements that later turned out to be fallacious, such as when he lashed out against Bitcoin suggesting that the world’s main cryptocurrency could be surpassed by others.

Despite this, he is certainly very well informed about the state of things regarding XRP, so his statements on the matter cannot be ignored. 

Garlinghouse argues that, after Ethereum and Bitcoin, the three main altcoins for which spot ETFs could be issued on US exchanges are XRP, SOL, and ADA. 

If at this moment it actually seems a bit difficult for someone to want to take the trouble to create, launch, and manage an ETF on Cardano in the USA, as far as SOL and XRP are concerned, the possibility does seem to exist, as hypothesized by Garlinghouse.

According to the CEO of Ripple, among these three, the first could be XRP, although many other experts believe it could be SOL. However, it matters little which of the two arrives first, because if, for example, spot ETFs were to be launched on both SOL and XRP in the USA next year, the most important thing would be this, and not the possible precedence of one over the other. 

Moreover, Garlinghouse stated that he believes it is inevitable that sooner or later someone will decide to launch an ETF on XRP spot on the US exchanges, also because he believes it makes sense to add as many commodities as possible to the market to offer investors more options for trading. 

The crypto ETF in the rest of the world

This issue concerns only the USA, because in reality in other markets similar derivative products that are entirely and completely collateralized in criptovalute already exist even on altcoins. 

In Europe, for example, 21Shares is very active and has already issued as many as thirty crypto spot ETPs. 

Among other things, the first crypto spot ETP issued by 21Shares in Europe was on Bitcoin, in February five years ago, but just a few months later, in April, they issued the one on XRP. That same year they also issued those on ETH (Ethereum), BNB (Binance Coin), BCH (Bitcoin Cash), and XTZ (Tezos).

In this group of about thirty crypto spot ETPs, those on SOL (Solana), TON (Toncoin), ADA (Cardano), and AVAX (Avalanche) are also included. However, there are no ETPs on DOGE (Dogecoin) and SHIB (Shiba Inu), as these memecoins do not have a real crypto project behind them. 

There are, however, also some third or fourth tier altcoins, such as FTM (Fantom), ALGO (Algorand), MKR (Maker), and even some very recent ones like TIA (Celestia).

Furthermore, 21Shares is not the only company to have issued several spot crypto ETPs on European exchanges, so from this point of view, it is precisely the European market that is the richest. 

Probably the single stock exchange that hosts the most is the Swiss SIX in Zurich, but there are also several on the European Euronext exchanges and the British London Stock Exchange. 

The office of the Securities and Exchange Commission (SEC) in Salt Lake City, known for the failed fraud case against the crypto startup DEBT Box, is closing. The judge decided to dismiss the case while the SEC office recorded a “depletion” of staff. 

SEC: the office of the failed lawsuit against the crypto startup DEBT Box will close its doors

According to what reported, it seems that the Salt Lake City office of the Securities and Exchange Commission (SEC) is about to close its doors.

This office is known for the lawsuit filed against the crypto startup DEBT Box for fraud, which, however, subsequently requested the case to be dismissed. 

In fact, at the moment, it seems that the SEC office in Salt Lake City is experiencing a “staff depletion,” as many of the regulatory authority’s lawyers have been removed due to this case. 

In fact, two SEC lawyers, attorneys Michael Welsh and Joseph Watkins, resigned in April after a federal judge sanctioned them for committing a “serious abuse of power” in attempting to freeze the assets of the cryptocurrency company DEBT Box. 

After the closing, the SEC office in Denver will assume all enforcement jurisdiction. 

SEC vs. DEBT Box: the failed lawsuit against the crypto startup

It was January 2024, when the news had already leaked that the SEC was looking to dismiss the case against DEBT Box. The reason would be a series of revelations of inaccurate statements made by the agency’s own lawyers during the legal proceedings.

At that moment, the SEC, which would have filed the lawsuit against DEBT Box in July 2023, would have informed the judge of its intention to dismiss the case without prejudice. Only in this way, the regulatory authority could have refiled the case at a later time. 

Only last week, therefore, the judge wanted to issue a dismissal ruling, but ordered the SEC to pay DEBT Box 1.8 million dollars in legal fees. And so, the SEC of Salt Lake City will close its office. 

“The agency took into consideration its budget and organizational efficiency in deciding to close the office, and it has no intention of closing other regional offices”

The return of the SEC also against Ripple

Also in January 2024, the SEC had made headlines again for its return in attacking the crypto company Ripple. 

In fact, the regulatory authority had asked the New York judge to compel the company to provide its financial statements for the period 2022-2023. 

What the SEC has always targeted against Ripple is to uncover the institutional sale of XRP, seeking to remedy and resort to injunctions and civil penalties. 

In fact, in the July 2023 ruling, Judge Annalisa Torres had determined that XRP would be considered an unregistered security only if sold to institutional clients. 

Subsequently, in March 2024, the SEC requested the Court to impose a fine of 876 million dollars in disgorgement, 198 million dollars in prejudgment interest, and a civil penalty of 876 million dollars again against Ripple. 

Obviously Ripple Labs has opposed the SEC’s proposal to impose the sanction of almost 2 billion dollars on the crypto company. 

SPONSORED POST*

Artificial intelligence has made its way worldwide and has become integrated with everything in life, including the crypto AI sector. Applying blockchain technology has brought a new way of trading digital assets.

Crypto AI tools assist traders in executing trading signals and fashioning plans and strategies based on the data received.

With the growth of the crypto AI  industry, tools like RCO Finance (RCOF) and TradeSanta have been developed, but what makes them special? Let’s take a closer look at the top three most innovative crypto AI tools of 2024.

1. RCO Finance (RCOF)

RCO Finance (RCOF) is a decentralized finance (DeFi) AI-powered robo advisor trading platform that allows you to advance your trading skills. 

It is also integrated with machine learning algorithms that use AI capabilities to recognize markets, identify the appropriate trading shares, and execute trades for users.

With AI included in a trading platform, RCO Finance provides several primary benefits that distinguish it from conventional trading. These include accuracy, flexibility, self-executing trading, overall costs and speed of the algorithm.

RCO Finance’s trading system relies on advanced artificial intelligence algorithms to scan data and analyze patterns. This allows investors to make sound, prudent, and proper investment decisions without removing the emotional aspect through automation in trading.

Compared to other crypto AI tools identified above, RCO Finance empowers traders to choose and improve their strategies and risk tolerance, making it suitable for traders of all backgrounds.

On the DeFi platform, users can access over 12,500 assets worldwide. This opportunity, combined with the crypto AI robot advisor, will unlock massive gains for its users, and early investors will have an even greater chance at maximizing their rewards during the ongoing token pre-sale.

Furthermore, the concept of RCO Finance being a decentralized place reassures user data, trades, and funds are always secure. 

2. Kryll

Kryll is another crypto AI tool offering the best opportunities in algorithmic trading bot development, testing, and implementation. Whether you’re a beginner or a seasoned trader, Kryll’s easy-to-use drag-and-drop strategy editor, combined with a powerful backtesting engine, offers the ideal environment to define and refine your trading strategies.

Kryll’s key features include a drag-and-drop interface for creating complex trading strategies without coding, backtesting strategies against historical market data, real-time simulation of trades before risking real money, and seamless deployment of strategies on popular cryptocurrency exchanges.

Kryll is based on blocks, each representing a specific action, such as buying or selling assets, setting stop-loss orders, or executing trades based on specific market indicators. This makes it unique from other crypto AI tools.

3. TradeSanta

TradeSanta is a cloud-based software platform that automates cryptocurrency trading strategies. It is accessible to many users, from beginners to experienced traders. 

The platform connects to a user’s cryptocurrency exchange account through API keys, allowing bots to execute trades based on predetermined strategies. 

As one of the advanced crypto AI tools, it supports several major exchanges and offers a variety of trading strategies, including long and short positions, to help users take advantage of market movements.

TradeSanta’s key features include automated trading bots that can be customized to follow various trading strategies, multiple exchange support, long and short strategies, technical indicators, and a user-friendly interface. 

The platform’s bots can respond to real-time market changes, making decisions based on technical indicators and pre-set parameters.

Pick RCO Finance for Advanced Crypto Trading

It is crucial to understand that RCO Finance is highly different from all the other crypto AI tools available on the market because it offers DeFi traders access to stocks, bonds, derivatives, and a linked debit card that ensures instant fiat conversions without country restrictions.

The platform community actively responded to the first presale of the RCOF token, exceeding 11 million tokens sold at $0.0127. 

The second presale is established at $0.0343, and the token is expected to rise to $0.4 – $0.6, which may be attractive to early investors.

RCOF holders are equity stakeholders in the platform, and they stand to gain from its success. This includes a chance to win over $100,000, as well as exercising decision-making power on the platform’s future development.

This is your opportunity to revolutionize your crypto trading services and be part of the RCO Finance family now! A $50 investment can now be worth over $1,000 during the second stage of the pre-sale and much more once the token launches on major crypto exchanges. 

For more information about the RCO Finance (RCOF) Presale:

Visit RCO Finance Presale

*This article was paid for. Cryptonomist did not write the article or test the platform.

This article was paid for*

2024 has been a remarkable year for the crypto community with two of the largest cryptocurrencies, Bitcoin and Ethereum securing spot ETF approvals from the United States Securities and Exchange Commission (SEC). 

These two intriguing developments have ultimately pushed the crypto world into the mainstream, with tens of thousands of investors coming in every day. 

However, to savor significant ROI, it is imperative that investors gain exposure to cryptocurrencies while they are still in their early stages. Therefore, in this article, we will equip readers with new cryptos that could be the next 100x success story. 

7 New Crypto To Watch Out For In June 2024 – Quick List

Are you on the lookout for new cryptos with numerous upsides? Here are some of the tokens to consider:

Base Dawgz (DAWGZ) – New meme coin project with a multichain concept

Sealana (SEAL) – Solana-based meme coin with good upsides 

WienerAI (WAI) – AI-powered token with meme coin fundamentals  

Mega Dice (DICE) – Outstanding GameFi crypto to watch out for in June 

PlayDoge (PLAY) – Latest meme coin with a P2E model

99Bitcoin (99BTC) – L2E crypto with huge potential to explode

eTukTuk (TUK) – Eco-friendly crypto with real-word use cases 

New Cryptocurrencies To Watch Out For In June 2024 – Full Review

While most cryptocurrencies may be tempting to invest in, it is essential you read more about them before making any investment decision. 

We’ve compiled detailed information about every token that made it to our list, highlighting reasons why investors should be on the watchout for them in June.

Base Dawgz (DAWGZ) – New Meme Coin Project with a Multichain Concept

Base Dawgz stands out as one of the latest meme coin projects to have come out this year. Recently launched as a presale, Base Dawgz’s major appeal lies in its multichain approach, doge root, and community engagement strategies.

While Base Dawgz is built on the Base network, token holders can explore the token on other chains without losing full control, thanks to its embracement of Wormhole and Portal Bridge technologies. This standout attribute helps unite the meme coin community and opens the project to a wider audience.

Another major selling point of Base Dawgz is its meme-inspired aesthetics. Drawing inspiration from Shiba Inu, Base Dawgz is aiming to capitalize on the popular doge trend to hit the ground running. 

Since the beginning of the year, doge-based tokens have outperformed even high-cap cryptos in the market. Base Dawgz is expected to build on this momentum when it launches on exchanges. 

At press time, the presale is ongoing and has already attracted a host of investors. Those investing in the crypto through Ethereum can also stake their tokens to earn more rewards. 

Follow Base Dawgz on X and visit basedawgz.com or basedawgz.io to get in on the ground floor. 

Buy Base Dawgz Sealana (SEAL) – Solana-Based Meme Coin With Good Upsides

Sealana is another top option to consider in June as it poses a huge potential for a noticeable short-term increase and comes at a very cheap price. Available to degens in its ongoing presale, you can get your hand on the token with just $0.022, and with just 1 SOL you can buy up to 7,440 SEAL tokens.

Sealana is an ideal option for short-term gains as it embraces a meme-centric posture without any serious emphasis on utility. Instead, the project focuses on its community as it intends to gather a vast number of meme coin enthusiasts to keep the conversation around the token alive. 

Prominent YouTube channel with more than 706k followers, 99Bitcoins tipped SEAL to enjoy a significant price increase in the near future. This comment has further strengthened the assertion that the token is the one to watch out for this year. 

To participate in its ongoing presale, investors can either use the widget provided on the website or send SOL to a designated address. The widget supports bank cards and major cryptos like BNB, ETH, USDT, and USDC. 

Follow Sealana on X to stay updated about its future listings.

Buy Sealana WienerAI (WAI) – AI-Powered Token With Meme Coin Fundamentals

While entering the market as a meme coin that combines artificial intelligence, canine, sausage, and humor, WienerAI has swiftly transitioned into something more intentional. The project recently launched its AI-powered trading bot that supports investors to make the best out of every market situation. 

More so, the bot with its AI infrastructure provides users with real-time data and information, allowing them to make informed decisions in a volatile market. That said, the trading bot underlines the commitment of WienerAI to establishing a formidable relationship between AI and humans, making them companions and partners in progress. 

For those uninformed, $WAI is an ERC-20 token which makes it compatible with numerous wallets and decentralized exchanges, hence, opening a world of numerous possibilities for investors. 

Crypto Gains, a prominent YouTuber once highlighted how the AI-powered trading bot will boost the performance of $WAI in a highly competitive market. 

Without a doubt, WienerAI has what it takes to flourish making it one of the top cryptocurrencies to watch out for in June. Presently in its presale, $WAI only costs less than a fraction of a cent and it has a huge potential to surge significantly. 

Follow WienerAI on X to stay updated about its future listings.

Buy WienerAI Mega Dice (DICE) – Outstanding GameFi Crypto To Watch Out For In June

Mega Dice took the GameFi sector by storm with its explosive entry into the industry in 2023. The platform has swiftly established itself as one of the best mobile casinos and sports betting sites, offering thrilling gambling experiences and high-winning opportunities. 

Also, the platform has earned a good reputation as the world’s first licensed Telegram casino. That said, with its introduction of DICE,  the platform is making another grand threshold into the blockchain arena, offering investors the opportunity to become a partial owner of the casino. 

Mega Dice is offering its native token $DICE as a presale at a giveaway price of $0.075, providing investors the opportunity to benefit from the remarkable growth it has recorded in recent years. With that, holders of $DICE will receive a portion of the mobile casino’s profit, allowing them to maximize their gains on the token. 

According to TodayTrader, Mega Dice’s status as a leader in the casino world will provide an enablement for DICE to thrive in the market.

Mega Dice has plans to introduce NFTs, a referral program, and other rewarding features. Considering its vast opportunities, $DICE is one of the best cryptocurrencies to watch out for in June. 

Follow Mega Dice on X to stay updated about its future listings.

Buy Mega Dice PlayDoge (PLAY) – Latest Meme Coin With A P2E Model

$PLAY is another new cryptocurrency to watch out for in June 2024 as it is already giving assurances of soaring massively. The token is set to launch at the end of its presale, however, it has already raised eyebrows with its fascinating Play-to-Earn concept, meme lore and interesting game play. 

The project draws inspiration from the viral virtual pet game, Tamagotchi that was designed in Japan by Akihiro Yokoi of WiZ and Aki Maita of Bandai. More so, following the introduction of the Tamagotchi handheld digital pets in 1996, more than 82 million units of the game were sold, underlining a global admiration for digital companionship.

However, PlayDoge is aiming to fine-tune the game concept by leveraging 21st-century technology that comes with high-definition graphics, touchscreen controls, direct pet interaction, and blockchain integration. By that, players will be saddled with the responsibility of nurturing their Doge and ensuring its well-being in return for $PLAY rewards. 

Despite launching barely a few days ago, PlayDoge’s exciting attributes have already captured the imagination of Jacob Bury, a seasoned YouTuber with vast experience in crypto trading. 

Also, $PLAY has a staking mechanism that allows investors to earn massive APY if they buy and stake the token in its ongoing presale. The token comes cheaply for as low as $0.00451, positing savvy investors for massive gain by the time it launches.

Follow PlayDoge on X to stay updated about its future listings.

Buy PlayDoge 99Bitcoins (99BTC) – L2E Crypto With Huge Potential To Explode

99BTC is another cryptocurrency to watch out for in June as it has already shown early signs of exploding and providing early adopters the opportunity to net huge gains while also benefiting from its distinctive offering. The token has a staking feature that allows early investors to earn huge APY and net massive income on the investment.

Don’t forget that 99Bitcoins is a crypto-centric educational platform that provides materials, courses, and videos about cryptocurrency and blockchain technology at large. Serving the crypto landscape since 2013, 99Bitcoins has gathered a massive community with more than 2 million users, and more than 700k subscribers of its YouTube channel.

As part of its future plan, 99Bitcoins intends to introduce trading signals, a news feed, token price charts among many others. The platform in a bid to encourage people to learn more about cryptocurrency has launched a Learn-to-Earn model token, 99BTC.

While discussing its relevance, famous crypto analyst 

Michael Wrubel says the crypto will serve as a means of rewarding subscribers for completing crypto courses, tests, and tasks.

So far, 99Bitcoins (99BTC) has raised more than $1.6 million in its ongoing multi-stage presale, underscoring investors’ growing appetite for the L2E token. 

Follow 99Bitcoins on X to stay updated about its future listings.

Buy 99Bitcoins eTukTuk – Eco-Friendly Crypto With Real World Use Cases

eTukTuk is another crypto project that has attained a great height in the market as a result of its commitment to reducing emissions and advocating for a greener climate. To achieve this focus, the project intends to leverage regional partners and provide people of all classes with electric vehicles. 

The second aspect of the project deals with providing solar-powered stations across the urban and suburban regions of the world, ensuring that owners of those electric vehicles can charge them with ease.  

eTukTuk has also taken a dive into the P2E ecosystem by launching its action-packed Crazy Tuk Tuk game on App Store and Play Store. With the game, players will be able to embark on an exhilarating adventure through the busy streets of Sri Lanka, picking up and dropping off passengers from different locations. 

Being the native token of the ecosystem, $TUK will be adopted as a means of payment for recharging the electric vehicles at the various charging stations and rewarding Crazy Tuk Tuk players for completing simple driving and parking tasks. 

EXCITING ANNOUNCEMENT

We are thrilled to announce that our awaited game, Crazy Tuk Tuk taxi is now also available on the App store

Complete quests, earn rewards and compete in thrilling races

Download now:https://t.co/E2rb7J8r2e pic.twitter.com/XXgV8Wgz0Y

— eTukTuk (@eTukTukio) April 21, 2024

$TUK is presently available for a cheap price of $0.032, thanks to its ongoing presale. Investors looking to join the eTukTuk movement should visit the website of the project to participate in the presale now. 

Follow eTukTuk on X to stay updated about its future listings.

Buy eTukTuk Conclusion

The cryptocurrency market is so vast that new tokens pop up almost every day, leaving investors with the dilemma of picking the project that can offer them swift gain. To help you make informed investment decisions, we have listed some of the best cryptocurrencies to watch out for in June 2024. 

While compiling the review, we carefully analyzed their potential and consulted credible sources to fact-check their prospects – although remember new cryptocurrencies are high risk, as well as high reward investments.

*Cryptonomist did not write the article or test the platform.

Abu Dhabi, UAE, June 4th, 2024, Chainwire

Solnarize is thrilled to announce that the presale of it’s $SRIZE tokens will commence on Friday, June 7th, 2024. This presale provides early participants the chance to engage with a project that combines innovative meme culture with the mission of promoting clean energy before listing on Raydium 48 hours after presale.

Solnarize aims to innovate within the meme space by merging the viral appeal of meme culture with the vital mission of promoting clean energy. The team’s approach integrates the $SRIZE token, which plays a pivotal role in Solnarize’s ecosystem and the forthcoming Play-to-Earn (P2E) game, Solar Defender.

A Unique Blend of Meme Culture and Sustainability

Solnarize is a project designed to create a vibrant community that values both potential financial growth and environmental impact. The $SRIZE token serves as the cornerstone of Solnarize’s ecosystem, driving transactions and rewards within their P2E game, Solar Defender.

Solar Defender: The Heart of Solnarize

Solar Defender is an engaging and educational game where players protect a solar-powered city from environmental threats. Players earn $SRIZE tokens as they navigate through various challenges, placing and upgrading solar panels to maintain the city’s energy supply. This game is not only entertaining but also raises awareness about renewable energy and the importance of sustainability.

Andzo, the developers team lead at Solnarize, explains, “Solar Defender is designed to offer an immersive experience that combines fun with education. By integrating clean energy concepts into gameplay, we aim to inspire a new generation of environmentally conscious gamers and crypto enthusiasts.”

Utility and Potential of $SRIZE Token

The $SRIZE token facilitates transactions within the Solar Defender game and is part of Solnarize’s commitment to sustainability and community-driven innovation. As the utility token at the heart of the Solnarize ecosystem, $SRIZE facilitates all in-game purchases, potential rewards, and upgrades, making it an integral part of the project’s success.

Recently, Solnarize secured $350,000 in seed funding led by Sunivations Ventures, with additional contributions from angel investors dedicated to clean energy and sustainability. 

About Solnarize

Solnarize is a meme project on the Solana blockchain, merging meme culture with sustainable energy initiatives. Their mission is to create a vibrant, engaged community that drives both technological innovation and environmental stewardship.

Contact:

Website: https://solnarize.com

X: https://x.com/SolnarizeSrize

Telegram: https://t.me/solnarize

Medium: https://medium.com/@solnarize

Contact

Andzo Xemberzi
Solnarize
enquiries@solnarize.com

Recently, the CEO of VanEck predicted that Bitcoin will come to represent half of the market capitalization of gold. Not surprisingly, Jan van Eck has recently discussed the digital asset and the timing for what could be a monumental rise.

Let’s see all the details below. 

VanEck: an analysis of Bitcoin’s potential in the context of gold

As anticipated, the CEO of VanEck has projected that Bitcoin, the important cryptocurrency, could soon represent at least half of the market capitalization of gold.

Jan van Eck, in a recent discussion with Scott Melker, highlighted the possibility of a significant increase in the digital asset.

In an interview, VanEck stated that Bitcoin could reach a market capitalization exceeding 7 trillion dollars, equivalent to half the value of gold. Thus marking a significant change in the global financial landscape.

During the course of 2024, Bitcoin was at the center of attention in the financial sector, with the approval by the United States Securities and Exchange Commission (SEC) of spot ETFs on Bitcoin in January. 

Which has expanded access to the digital asset for institutional investors.

VanEck has played a key role in this dynamic, with its CEO expressing the prediction that Bitcoin could represent half of the market capitalization of gold. 

Van Eck highlighted that this could still take another five or ten years, as many traditional clients in the financial sector are still reluctant to address the topic of Bitcoin.

Furthermore, Van Eck acknowledged that there is still a long way to go for the potential increase in Bitcoin’s market capitalization, considering that it currently stands at only 1.3 trillion dollars. 

Tuttavia, la previsione di VanEck indica una optimistic outlook per Bitcoin nel prossimo decennio, con profondi impatti sul mercato nel suo complesso. 

Bitcoin (BTC) slows down: a phase of reaccumulation in progress

Bitcoin (BTC) has slowed its pace after the halving, disappointing predictions of rapid growth. Instead, it has entered a reaccumulation phase, with investors evaluating opportunities during periods of decline or stability of the token.

In the last quarter, BTC has remained confined in a narrow range, moving from $61,000-$64,000 to the current $67,000-$70,000. However, this could indicate a certain degree of stability in a context of volatility.

The forecasts indicate that BTC could reach $84,000 and then $100,000 by the end of the year, despite the recent test at $71,500 in May. Currently traded at around $68,974.52, Bitcoin could soon surpass its all-time high.

The trends around the ETF Spot Bitcoin have attracted both institutional and retail investors, although a small window of interest towards altcoins has temporarily influenced BTC.

Although the sentiment is generally bull, some investors might be frustrated or looking for greater diversification opportunities. 

However, according to Rekt Capital, Bitcoin has been in a reaccumulation phase for 49 days, a period that could precede further growth after the halving.

The community reacts to the current trends, with speculations about the $73,000 target gaining momentum while discussing the role of meme coins in the crypto landscape.

This article was paid for*

Meme coin Popcat is back to its bullish ways and gearing up to hit a new all-time high. 

According to the data from CoinGecko, the POPCAT price has surged to trade at $0.505, up 13% over the past 24 hours. The meme coin’s market capitalization is hovering just under the $500 million mark. 

This third-largest cat-themed meme coin is also seeing impressive daily volume, which currently stands at $48 million. 

With large-cap cryptocurrencies displaying consolidatory price action, investors are eyeing mid-caps such as Popcat for profitable returns. 

New low-cap Solana meme coins are also in significant demand. For instance, Sealana has raised over $3 million in its presale and is being viewed as the next 100x meme coin by experts. 

Is a New All-Time High Imminent for Popcat?

Popcat’s current all-time high stands at $0.71, which it had reached last month on May 4th. 

Experts believe that the meme coin could push towards new highs over the coming days. 

In a recent X post, crypto analyst RookieXBT claims that a big month is ahead for Popcat. He reveals that $0.55 is the key resistance for the token that is standing between it and a new all-time high. 

last $POPCAT shill until a new ATH

big month ahead

break $0.55 = up only$WIF went from $0.45 to ~$5 in ~35 days when it got going a few months ago

i'm not saying the poppin cat will do the same but I'm not not saying that either

if the #3 dog can do it, why not the #1 cat? pic.twitter.com/dQt4zGAOxw

— RookieXBT (@RookieXBT) June 4, 2024

RookieXBT further claims that Popcat could display a similar explosive price action to Dogwifhat post-breakout. Indeed, Wif rallied from $0.45 to $5 in just 35 days. 

He is not the only one drawing comparisons between the two meme coins. Experts continue to highlight that the Popcat price chart looks “extremely bullish” and the token could see a significant repricing in the coming days. 

I am guessing $wif and $popcat both violently reprice together when nobody is expecting it

then all other T1 memes like $sc benefit from the upswing

The $popcat chart in particular is just ludicrously bullish

— Autism Supercycle (@autismSC) June 4, 2024

The bulls would hope for additional support from Solana. Indeed, Solana meme coins receive a major boost from SOL’s bullish strength, often acting as a leveraged bet on the native token. 

Solana looks poised for its next upside move. SOL has shown enough bullish strength to successfully retest the $160 support and is now bouncing back up as a result.

The SOL/ETH trading pair is also showing strength and could result in Solana rallying, at least until the spot Ethereum ETFs start to trade. 

Is Sealana The Next To Explode?

Popcat is not the only Solana meme coin that experts are bullish on. Sealana ($SEAL) has already gained favourable footing amongst smart-money traders during its ongoing presale, many of whom believe it to be the next 100x meme coin.

The Sealana presale has already raised over $3 million in the first few weeks, a sign of its high upside potential. 

Similar to Dogwifhat, $SEAL has attracted the attention of meme coin investors through its mascot. Notably, crypto whales believe that meme coins that can make investors laugh will likely deliver outsized returns. It is worth remembering that several hedge funds invested in Wif because “the dog had a hat”.

Therefore, one look at the Sealana X account is enough to understand the strong demand for the new meme coin. In one post, its mascot – a chubby and patriotic seal – is throwing a raging frat party. In another, he is helping Donald Trump build his wall. 

Aside from its crowd-favourite mascot, Sealana’s simplified presale model is another plus for the meme coin. Interested buyers simply need to send $SOL tokens from their wallets and receive $SEAL as an airdrop after the conclusion of the presale. 

The Sealana wallet address is 3LeVizuW3YoCnjfMfuQ22rSFQLDLdo9jXLKjyqfBU3w5. 

Visit Sealana Presale

*Cryptonomist did not write the article or test the platform.

Crypto news: Polygon Labs acquires Toposware, bringing its total investment in ZK technology to 1 billion dollars. 

The company has stated that this acquisition raises Polygon’s cumulative investment in zero-knowledge technology to over 1 billion dollars. The Toposware team is responsible for Polygon’s Type 1 Prover technology.

Furthermore, Avail, a spinoff of Polygon specialized in data availability, has raised 43 million dollars in series A funding. This news follows by three months the announcement of Avail’s 27 million dollar seed funding round.

Let’s see all the details below. 

Crypto news: the team of Toposware behind the innovative Type 1 Prover technology of Polygon

As anticipated, Polygon Labs has acquired Toposware, a company specialized in blockchain research and engineering, marking its third investment in zero-knowledge (ZK) startups in the last three years.

Toposware has collaborated with Polygon Labs to develop its Type 1 Prover, which allows blockchain compatible with Ethereum to implement zero-knowledge proofs without requiring significant modifications.

With this acquisition, eleven engineers from Toposware will join the existing ZK development teams at Polygon. Polygon has stated that this agreement brings its total investment in ZK technology to over 1 billion dollars. 

In 2021, Polygon had acquired two other companies focused on the scalability and privacy of Ethereum, Mir and Hermez, for a total of 650 million dollars through multiple transactions.

Technology ZK allows one party to prove to another that a statement is true without revealing additional information. In the blockchain field, this improves privacy by allowing the validation of transactions without revealing their details.

A spokesperson for Polygon stated the following regarding this: 

“We are constantly looking for potential acquisitions to strengthen our research and development efforts in the field of ZK. At the moment there are no other operations under consideration. ZK technology is pushing our efforts on multiple fronts.”

Forecast on ZK-Proof by 2030 as the controversy over the ‘ZK’ trademark rages

Furthermore, it is expected that only Web3 services will require about 90 billion ZK-proof by 2030, equivalent to 83,000 transactions per second. Several cryptocurrency companies, including StarkWare and Matter Labs, are working on this technology.

Recently, a controversia has emerged regarding the trademark on ZK technology, as Matter Labs, the company behind the layer-2 solution zkSync, has attempted to obtain intellectual property rights for the term “ZK”.

Matter Labs withdrew the request shortly after, following protests from researchers and the crypto community. For Polygon, the action was intended to “appropriate” a common good:

“This is a serious problem. They are essentially trying to steal people’s hard work. We believe that ZK is a common good […] We will explore legal action, if necessary. We are pleased that they have decided to abandon the ‘ZK’ trademark; however, they are still trying to register other trademarks related to ZK, which we consider highly problematic.”

Avail, the blockchain of the future: $43 million for its global growth

Avail, a renowned blockchain platform known for its data availability network, has announced that it has secured $43 million in a Series A funding round. 

This round was led by prominent investors such as Founders Fund, Dragonfly, and Cyber Fund. The news comes three months after Avail announced that it had raised 27 million dollars in initial funding. 

The platform, created by Polygon in March 2023, has as its main objective the creation of data availability networks, which help blockchains to store information in an economical and accessible way.

This type of technology proves particularly useful in the context of blockchain scalability, as it helps level 2 “rollup” networks manage transaction data and other information.

All this without overloading the main level of the blockchain, thus reducing costs for end users.

The funds raised will be directed towards the construction of the Unification Layer di Avail, an advanced modular technology stack that combines data availability, aggregation, and shared security. 

Allowing modular blockchains to scale and interact without permissions and securely. The Avail team stated that a portion of the funds will also be allocated to the development of the “Fusion Security” layer, expected to go live at the beginning of 2025. 

Which will bring criptovalute like Ether (ETH) and Bitcoin (BTC) to contribute to the security of the Avail ecosystem. The co-founder of Avail, Anurag Arjun, has expressed his satisfaction with the new capital raised.

In particular, emphasizing the willingness to accelerate the development of the platform, expand the global presence, and address the critical challenges of Web3, such as blockchain fragmentation, insufficient data availability, and limited scalability.

The Thai company One Asset Management has recently obtained authorization to launch the first crypto ETF in Thailand. A significant step forward for the country, what changes will it bring? All the details in the article. 

A step forward for the financial market of Thailand: crypto ETFs approved 

As anticipated, the financial landscape of Thailand is making a significant leap forward with One Asset Management (ONEAM) becoming the first company to launch an exchange-traded fund (ETF) in the country, offering exposure to cryptocurrencies.

The Thai Securities and Exchange Commission (SEC) has approved ONEAM’s Bitcoin ETF, marking a milestone in the evolving regulatory framework for digital assets in the country.

The fund just approved, named One Bitcoin ETF Fund of Funds, will be aimed exclusively at institutional investors and individuals with a high net worth, according to the regulatory documents.

Retail investors will not be able to participate in this offer, which will be distributed between May 31, 2024, and June 6, 2024.

This development concludes the regulatory changes made by the SEC in April, which opened the doors to Bitcoin ETFs subject to restrictions aimed at institutional investors.

The move aligns Thailand with other jurisdictions that have already embraced Bitcoin ETFs, such as Stati Uniti, Hong Kong, Australia e Regno Unito. 

Liquidity, security, and convenience of Bitcoin ETFs

The Bitcoin ETF by ONEAM will invest in eleven major global Bitcoin funds, ensuring sufficient liquidity and security for investors.

Facilitating exposure to Bitcoin within a regulated framework, the ETF addresses concerns such as theft that can arise when people hold Bitcoin directly.

This approach offers a safer and more convenient option for institutional investors who wish to enter the bull and bear cryptocurrency market.

While ONEAM has obtained regulatory approval, another Thai company, MFC Asset Management, is still awaiting authorization for its own Bitcoin ETF product.

Both offerings will be private placements available exclusively to qualified investors. Thus emphasizing the cautious approach adopted by the regulatory authorities in introducing these innovative investment vehicles.

The approval of a Bitcoin ETF in Thailand reflects the growing demand from local institutions to include Bitcoin in their investment portfolios.

Furthermore, it lays the foundation for a wider mainstream adoption once public offerings become available, encouraging a greater number of investors to explore the potential of cryptocurrencies.

The increase in inflows into spot Bitcoin ETFs 

In the meantime, in the United States, spot Bitcoin ETFs have recorded net inflows for 15 days in a row, attracting 105 million dollars on the last trading day.

These continuous inflows come at a time when Bitcoin briefly surpassed the $70,000 threshold on Monday, marking the first time in a week that it reached such levels.

However, the price subsequently retraced towards its usual trading range, continuing to move sideways. Analysts at Bitfinex suggest that this correction phase might be nearing its conclusion.

The sales of Bitcoin holdings by long-term holders have been a significant factor in the correction from all-time highs.

However, blockchain data shows that these investors have started accumulating Bitcoin again for the first time since December 2023. Additionally, in the past month, the number of new accumulation addresses has increased for both Bitcoin and Ethereum.

This trend indicates a growing bullish sentiment among investors, despite the stability of prices observed recently. The analysis of Bitfinex, supported by data from CryptoQuant, confirms these observations.

SPONSORED POST*

In the visually-driven world of Instagram, the number of views can significantly influence brand visibility and success. For brands aiming to expand their reach quickly, the decision to buy Instagram views can be an effective strategy.

This article explores the best seven websites that not only help in buying Instagram views but also offer services to buy Instagram followers and likes, which are crucial for comprehensive social media growth.

Evaluating the Best Websites to Buy Instagram Views

When choosing a service to buy Instagram views, the criteria extend beyond mere numbers. Authenticity, reliability, customer support, and pricing are essential factors. A website that scores well in these areas ensures that the views come from real profiles, which can also positively impact engagement rates and brand credibility.

InsFollowPro: A Deep Dive

Service Overview

InsFollowPro is renowned for its robust services tailored to enhance social media profiles. 

This platform offers a strategic approach to buy Instagram views, ensuring that each view counts towards higher engagement.

Why Choose InsFollowPro?

Choosing InsFollowPro to buy Instagram views is beneficial for its reliability and focus on quality. Brands can expect not only an increase in views but also an improvement in their overall social media presence, including options to buy Instagram likes and followers.

Statigr.am: Unlocking Potential

Core Offerings

Statigr.am provides an extensive range of services aimed at boosting Instagram metrics. The platform specializes in helping brands buy Instagram views that are genuine and likely to convert into longer-term followers.

Benefits for Brands

For brands, the primary advantage of using Statigr.am lies in its ability to streamline the growth process. The platform’s services are designed to enhance visibility and foster an environment where organic interactions are more likely.

ViewBoost360: Enhancing Visibility

What ViewBoost360 Offers

ViewBoost360 stands out with its tailored services that cater specifically to brands looking to increase their digital footprint on Instagram through enhanced views.

Unique Selling Proposition

The USP of ViewBoost360 is its guarantee of rapid delivery and high retention rates. Brands looking to buy Instagram views find that ViewBoost360 offers competitive packages that include robust support and real views.

SocialViewX: Strategic Growth

Services Breakdown

SocialViewX offers a comprehensive suite of services that go beyond just views. It provides an integrated approach where brands can also buy Instagram followers and likes, facilitating a holistic growth strategy.

Choosing SocialViewX

Opting for SocialViewX is ideal for brands that prioritize strategic growth. The platform’s ability to deliver tailored solutions means that every view has the potential to contribute significantly to the brand’s objectives.

InstaViewShop: Quick and Reliable

Overview of Services

InstaViewShop prides itself on its straightforward and efficient service offerings. Brands can buy Instagram views with the assurance of quick turnaround times and high-quality engagements.

Brand Benefits

The main benefit for brands using InstaViewShop is its reliability. The quick services ensure that campaign timings are met, which is crucial for time-sensitive promotions.

RapidViewz: Fast Track Your Growth

Service Spectrum

RapidViewz offers an aggressive approach to increasing Instagram views. Their services are designed for brands that need quick results to make an immediate impact.

Why RapidViewz?

Choosing RapidViewz allows brands to buy Instagram views that are not only fast but also effective in boosting overall engagement metrics. This can be particularly beneficial during product launches or promotional events.

ViewMasters: Customized Solutions

Offerings and Features

ViewMasters excels in providing customized solutions that cater to the unique needs of each brand. Their services help brands buy Instagram views that are tailored to their specific audience.

Reasons to Opt for ViewMasters

The customization ability of ViewMasters makes it a preferred choice for brands that require a more nuanced approach to social media growth. Their focus on tailored solutions ensures that every dollar spent maximizes the potential return.

Conclusion

Choosing to buy Instagram views can significantly expedite brand growth on social media. By selecting a reliable provider, brands can ensure that their investment translates into real, quantifiable gains. It’s not just about the numbers; it’s about creating a vibrant, engaging, and sustainable online presence. Each of the services mentioned offers unique advantages that can cater to various brand needs. Whether it’s rapid growth, quality engagement, or strategic brand enhancement, these platforms provide the tools necessary to transform your brand’s digital strategy.

The journey to social media prominence is multifaceted. While buying Instagram views can provide a significant boost, integrating this strategy with organic growth efforts like engaging content, regular interactions, and understanding audience preferences remains essential. For brands looking to not just grow but thrive on Instagram, a balanced approach that includes buying views, likes, and followers, coupled with genuine engagement tactics, is the key to long-term success.

*This article was paid for. Cryptonomist did not write the article or test the platform.

Lyon, France, June 4th, 2024, Chainwire

iExec’s latest dev tool empowers Web3 developers to build apps that enhance user control over their digital assets and maximize monetization potential.

 iExec, the company with the platform to build, own, and monetize in Web3, has announced the release of an upgrade to their DataProtector dev tool, dubbed the ‘Monetize Version’. This latest innovation introduces an upgrade that offers new methods for Web3 developers, DApp users, and content creators to manage and monetize their digital assets.

Since its inception in 2016, iExec has been a pioneer in offering solutions that prioritize data protection and ownership. The updated DataProtector ‘Monetize Version’ reaffirms iExec’s dedication to innovation, delivering powerful tools that give developers the means to return control over digital assets to their users. The enhanced tool enables decentralized application (DApp) users to maximize the monetization potential of their data, content, and other digital assets.

Simplifying the Development of DApps with Enhanced User Ownership and Monetization Control 

Building on the original iExec DataProtector developer tool, this new version introduces the DataProtectorSharing module. This expands the toolkit with new SDKs offering a range of monetization strategies that simplify the sharing, distribution, and earning from digital assets. Transactions are secured by Confidential Computing hardware encryption and orchestrated via iExec’s specialized DataProtectorSharing smart contract. Monetization is streamlined through the use of RLC, iExec’s native cryptocurrency, ensuring secure and transparent transactions on the network.

The DataProtector ‘Monetize Version’ Puts DApp Users in Control of Their Data 

Ownership: Users can encrypt their data with ownership registered on the blockchain, ensuring they maintain control.

Sharing: Users can grant access to authorized apps and share data securely without exposure.

Monetization: Users have options to rent, sell, or bundle their digital assets in subscriptions, allowing flexibility in how they monetize.

This upgrade introduces advanced monetization options designed to enhance the value of digital assets while maintaining control and security. Users have the flexibility to engage in secure sharing of their digital assets with authorized parties without compromising ownership. Moreover, assets can be rented out for specified durations, allowing data or content owners to earn while maintaining ownership rights. Secure selling options enable users to transfer ownership of data or digital assets to interested buyers, who then assume full control over their use at the blockchain level. Subscription bundle aims for a potential income by granting access to curated data collections for a predetermined fee. These versatile monetization options aims for Web3 users to extract maximum value from their data, or any other digital assets, while ensuring continued control and security.

““The DataProtector developer tool aligns perfectly with our mission to empower Web3 users to optimally monetize what they own. Developers can create truly unique Web3 apps that prioritize user ownership, privacy, and monetization. It revolutionizes the Web3 experience, and sets a new standard in the decentralized economy.”  – Gilles Fedak, iExec CEO

What distinguishes this upgrade is its streamlined approach to sharing protected data and earning RLC. Distribution channels are set up in advance, allowing users to initiate smart contracts independently, removing the need to manage each transaction personally. This process leverages a combination of blockchain and Confidential Computing, utilizing Intel SGX Trusted Execution Environments (TEE) to ensure data remains end-to-end encrypted and secure, even during processing.

Impact on the Web3 community

The new ‘Monetize Version’ of DataProtector dev tools significantly enriches the Web3 community by boosting greater interaction and collaboration. This innovation supports a more dynamic and interactive ecosystem, where users can confidently manage, share, and monetize their digital assets. By promoting a culture of collaboration and innovation, this tool contributes to the collective growth and dynamism of the Web3 landscape.

About iExec

iExec is for Web3 builders who believe that users should have full control over the ownership of their data. By creating cutting-edge decentralized developer tools, iExec empowers developers to build Web3 applications that prioritize data ownership, privacy, and monetization.

With transparent access to TEE infrastructure (such as Intel SGX) and advanced Confidential Computing, iExec ensures that data remains secure during processing, even from the operators of the nodes themselves. This secure framework provides users with full control over their data, dictating who can access it and for what purpose. iExec also facilitates data ownership through NFTs, enabling users to monetize their digital assets via selling, renting, or offering subscriptions. With direct monetization built into the protocol, developers earn RLC every time their app is used. Compatible with popular programming languages, iExec offers the flexibility and robust security essential to pioneer the future of Web3. For developers valuing privacy, ownership, and monetization, iExec presents a compelling platform.

Developers and creators can visit the iExec Developer Portal for detailed documentation and tutorials on the DataProtectorSharing module.

Developers and creators can also follow iExec on X to stay up to date on developments and developer funding opportunities.

Contact

Communication Manager
Tina Fahimi
iExec
press@iex.ec

Bucharest, Romania, June 4th, 2024, Chainwire

SNPad, a new Web3 platform integrating AI and blockchain for personalized TV advertising, announced the upcoming listing of its SNPAD token on Uniswap on June 4, 2024 at 12:00 UTC. The event represents a significant milestone in the project’s ambitious roadmap and will enable it to raise liquidity for SNPAD token trading.

SNPad is a groundbreaking advertising platform that seeks to revolutionize how people interact with TV commercials. Users can install SNPad as a free app on their smart TVs, replacing traditional TV channel ads with personalized advertisements from the SNPad platform. These ads start and end simultaneously as the TV channel ads, ensuring a seamless viewing experience. The displayed ads are tailored to the user’s preferences, allowing them to see the desired products. Additionally, ad viewers are rewarded with up to 70% of the ad revenue in SNPAD tokens for their attention.

SNPad features a TV app for ad display and a mobile app for profile setup and crypto wallet management. This dual-application approach provides a secure and comprehensive user experience without affecting TV viewing habits. Notably, the SNPad application runs separately from the live TV broadcast and does not alter the TV content.

The beta version of the SNPad TV app is now available, allowing LG and Samsung TV owners, as well as Android and iOS mobile users, to test it on their smart TVs and mobile devices. Their experiences and feedback are invaluable to the SNPad team in refining and enhancing the app’s features.

SNPad uses cutting-edge AI technology to detect when a TV program breaks for commercials and seamlessly replaces the original advertisement broadcast with user-personalized ads. This provides users with a bespoke viewing experience and considerable earning opportunities. For example, users can earn up to 70% of the advertiser’s reward in SNPAD tokens for each ad they watch. Moreover, the ads on SNPad have interactive features, such as QR codes, direct purchases, and other activities or information via the remote control.

The platform uses a proprietary cloud network to guarantee high availability and redundancy for its backend services. Also, the team established strategic partnerships with Interlan Internet Exchange, Limitless, University Politehnica Bucharest, Incertrans SA, and Lirapay to enhance SNPad’s reach and functionality.

SNPad caters to TV viewers as well as to small and medium businesses. The latter now have the opportunity to showcase their products and services to specifically targeted audiences. The platform enables companies to “communicate” with the customers most likely to be interested in their offers based on location, interests, and viewing habits. More importantly, they no longer waste money on unseen ads. Instead, they can track their ads’ performance on the blockchain and clearly see what they need to improve.

About SNPad

SNPad is a revolutionary Web3 project that is the first to replace traditional commercial broadcasts on cable and satellite TV channels with personalized ads. The project received the “Best Blockchain Startup” award at the Crypto Expo Europe (CEE) 2024.

The platform aims to tap into a vast and unexplored market boasting over 1.72 billion homes with TVs worldwide. Its innovative service has an enormous potential for growth and user engagement, rewarding both viewers and advertisers.

SNPad will use up to 70% of the commercial business revenue to purchase SNPAD tokens from the market and reward users. The project has already minted all SNPAD tokens and made them available on the market, with no future minting possible.

The upcoming listing of the SNPAD token on Uniswap on June 4, 2024, at 15:00 UTC, could mark a historic moment for the television advertising landscape and its imminent integration with AI, blockchain, and other Web3 technologies.

Users can follow the project and stay up to date with its development at these links: Website | X (Twitter) | Telegram |

Contact

Robert Burlacu
robert@snp.network

Bitpanda, the fintech unicorn and crypto broker, expands its partnership with Deutsche Bank, managing to offer local IBANs for users in Germany. 

Bitpanda: the crypto broker with Deutsche Bank to provide local IBANs 

The partnership between Bitpanda and Deutsche Bank moves to the next step, with the crypto broker being able to provide local IBANs for users in Germany.

Major milestone alert! Bitpanda is expanding its partnership with @DeutscheBank. Together we’re delivering real-time payment services and local IBAN numbers for our users in Germany. This is a game changer for the industry!

Find out more in our Blog: https://t.co/XvMWDHPIHr… pic.twitter.com/joEwdTzDs8

— Bitpanda (@Bitpanda_global) June 4, 2024

“Alert for a major milestone! Bitpanda is expanding its partnership with @DeutscheBank. Together we are providing real-time payment services and local IBAN numbers for our users in Germany. This is a breakthrough for the sector!”

In practice, Bitpanda is expanding its partnership with Deutsche Bank to integrate transactional accounts into its B2C broker platform.

Specifically, the fintech unicorn of Bitpanda, together with Deutsche Bank, will be able to provide real-time payment solutions for incoming and outgoing transactions to users in Germany. 

This API-based account solution will provide Bitpanda with access to German IBANs, simplifying and improving the user experience and ensuring trust, speed, and efficiency.

It is the first time that a top-tier bank collaborates with a cryptocurrency company to offer an integration of this product density and scope. This means that when customers deposit or withdraw fiat from Bitpanda, the transactions go through Deutsche Bank. 

Furthermore, as part of this partnership, Deutsche Bank will provide Bitpanda with a local IBAN in Germany.

Bitpanda and Deutsche Bank: the crypto broker that provides local IBAN

Deutsche Bank represents another important institutional partnership for Bitpanda, which is experiencing a period of significant growth. 

In this regard, Lukas Enzersdorfer-Konrad, Deputy CEO of Bitpanda, commented: 

“Bringing together the best parts of the sector is how we can create real value for people. Deutsche Bank’s commitment to collaborating with new and innovative players in the financial sector continues to make our partnership possible. From today, we can access a range of Deutsche Bank products, gaining benefits for our team and our users.”

Bitpanda is a regulated multi-asset brokerage platform that offers retail investors over 2,800 virtual assets and selected indices, as well as stocks, ETFs, and commodities.

Kilian Thalhammer, Global Head of Merchant Solutions at Deutsche Bank, spoke about the collaboration with Bitpanda as follows: 

“We always strive to collaborate with companies that share our commitment to user safety. With Bitpanda, a recognized and regulated fintech provider, we are confident that we can help build a safe and reliable environment for users in this innovative sector of virtual asset investments. With our strategy of being the reference bank for high-potential platforms, the partnership with Bitpanda represents a fundamental milestone as we shape this emerging ecosystem through active engagement with the main operators in the sector.”

The expansion in Austria and the diversification with Meme Coin Leaders Index

At the beginning of May, Bitpanda formed a new partnership with Raiffeisen Bank to expand in Austria. 

In fact, Bitpanda can offer the trading of crypto and other assets also to the clients of the 55 bank branches throughout the country.

During the last month, then, the fintech unicorn launched its new product Meme Coin Leaders Index, thus helping investors to diversify their crypto-wallets. 

To begin, the index will contain the main memecoins such as PEPE, FLOKI, WIF, BONK, DOGE, and SHIB.  

The long-term Bitcoin holders, especially those with unspent transaction output (UTXO) portions older than 1 and 2 years, have returned to buying supply on the market, highlighting the development of a re-accumulation phase before another bull rally of the crypto. 

It is worth noting how a similar condition had not been seen since December 2023, just before Bitcoin took off and went to attack its historical highs.

In the meantime, the ETFs of Wall Street continue to buy coins, contributing to the reduction of possible selling pressure, with the inflows marking the 15th consecutive day of positive outcome yesterday.

The bull are coming back more charged than ever.

Let’s see everything in detail below.

The long-term holders of Bitcoin are buying again: accumulation in progress

After Bitcoin marked a new all-time high at $73,777 on March 14, we witnessed a phase of correction and price consolidation that lasted approximately 45 days, driven by long-term holders who sold significant amounts of coins.

Now, however, it seems that the retracement is over and that the so-called “long term holders” (LTH) are back to buying, highlighting the beginning of a re-accumulation period, with on-chain conditions that have not been observed since December 2023.

In particular, we can see in the following chart provided by Crypto Quant, how the balance of all long-term holders has started to grow again in the month of May, justifying the rebound in Bitcoin prices from 56,500 dollars to above 71,000 dollars.

Generally, these entities with more years of coins behind them liquidate significant portions of BTC during bullish phases, only to reemerge at the peak of bearish phases with new purchases: this model has worked very well for the bull markets of 2017 and 2021. This trend reflects the long-term bullish sentiment among asset holders, motivated to accumulate as much as possible during market dips.

Going into more detail and zooming in, we can notice how the holders who hold portions of unspent transaction outputs (UTXO) between 1 and 2 years are reversing the trend that characterized the months of March and April, returning to purchase supply in the last few weeks.

This type of condition is more visible in holders of 1.5-2 years, with the beginning of the month of May marking the right moment to come back to the forefront after a phase of boring distribution.

In particular, in just one month they have repurchased about 350,000 coins sold in the previous three months.

Source: https://cryptoquant.com/asset/btc/chart/network-indicator/utxo-age-bands

Another fundamental parameter to consider in order to perform a momentum analysis is the amount of reserve coins held by centralized exchanges such as Binance, Coinbase, Kraken, Bitget, Okx, Bybit, etc.

As shown in the Coinglass chart, since February these kinds of reserves have decreased drastically, eliminating potential selling pressure and contributing to the rally that pushed Bitcoin above new all-time highs in mid-March.

The trend of declining reserves has intensified in recent days with investors who seem determined to push the cryptocurrency above new price levels, reducing the supply further, approaching a situation of “supply shock”.

Source: https://www.coinglass.com/Balance

To all this, the emergence of new accumulation addresses is added, which are buying Bitcoin (and also Ethereum) in anticipation of the next general price increase.

Let’s see in this regard how, despite the recent stable prices and modest growth for both assets, compared to previous months, there are significant increases in new accumulation addresses, supporting the thesis that we are in a pre-pump phase.

At this rate, the 100,000 dollars are no longer a mirage and could be reached by the end of 2024.

Source: https://cryptoquant.com/insights/quicktake/6659bf8d2295b967a3400a29-Growth-Surge-in-Bitcoin-and-Ethereum-Accumulation-Addresses-What-It-Means-for-th?amp;utm_medium=sns&utm_campaign=quicktake&utm_content=crazzyblockk

The Bitcoin spot ETFs continue to remove supply from the market thanks to positive inflows.

In addition to the data related to the behaviors of long-term holders and the data of exchange reserves, in order to provide a complete on-chain overview, we examine the latest results regarding the inflows of spot Bitcoin ETFs.

We carefully notice how the accumulation by the holders who supported the price rise of the currency in the month of May, was accompanied by inflows that were clearly positive for ETFs on Wall Street in the last two weeks, with data that exceeded 136 million dollars per day on average.

The net inflows have exceeded the production of new coins by the network’s miners by about 4 times, highlighting a deflationary situation where more coins are “burned” than are produced.

Note how the ETFs have recorded positive inflows for 15 consecutive days starting from May 13, when Bitcoin had just begun to recover from the dips at $61,400.

Very important in this regard is what happened last Friday, when despite the heavy outflow of GBTC with 124 million dollars sold, additional shares were purchased on the other side, bringing the net inflow to a positive state at 48.8 million dollars by the end of the day.

Now it seems as if the micro-capitulation phase that characterized the second half of March and the entire month of April has now faded to make way for an accumulation phase.

In total now the Bitcoin USA ETFs hold a Total Net Asset of 59.42 billion dollars.

Source: https://sosovalue.xyz/assets/etf/us-btc-spot

It is worth noting that on May 29, the iShares Bitcoin Trust (iBIT) ETF by BlackRock surpassed the Bitcoin Trust (GBTC) by Grayscale in terms of Bitcoin holdings, with iBIT reaching 288,670 BTC held (AUM $19.6 billion), compared to GBTC’s 287,450 (AUM $19.26 billion)

iBIT has also recorded an average daily trading volume of 303.4 million dollars in the last month, surpassing the 291 million dollars of GBTC. This increase in trading volume reflects the growth of investors’ confidence in BlackRock’s ETF product

This type of competition between the top two regulated investment products in America on Bitcoin offers an advantage within the market with narrower bid-ask spread quotes, greater liquidity and higher trading volumes, reducing transaction costs and making trades more immediate, secure, and efficient than they have ever been.

The third ETF by AUM is that of Fidelity with 164,158 BTC on the balance sheet.

Source: https://timechainindex.com/

Now it will be interesting to observe the data of the Bitcoin spot ETFs in Australia, whose trading was opened for the first time today.

The worldwide public acceptance of Bitcoin as a financially recognized asset, with the expansion of new ETFs and new trading venues, will certainly lead to a phase of new adoption among institutional investors, with the price of the crypto likely to see new highs in the coming months.

The Chief Financial Officer (CFO) of Epoch Times, John Tang, has been accused of orchestrating a $67 million fraud scheme that used the company’s proprietary platform to embezzle funds and invest them in crypto. 

The accusations, presented by the Securities and Exchange Commission (SEC) of the United States, claim that Tang used his position to manipulate the company’s accounting records and hide his fraudulent activities.

Crypto fraud: the investigations of the SEC for the CFO of Epoch Times

According to the SEC, Tang started the scheme in 2020, creating fake corporate accounts and using them to transfer funds from the coffers of the Epoch Times to a cryptocurrency exchange.

Subsequently, he would have purchased criptovalute with these funds, often at discounted rates up to 80% off their market value, using an unspecified crypto as a means of exchange.

The accusations state that Tang used the proceeds from his fraudulent activities for personal use, including the purchase of a luxury house and luxury cars. He also allegedly used the funds to subsidize the operations of Epoch Times, a conservative media outlet known for its criticism of the Chinese government.

The Epoch Times has denied the accusations, calling them “unfounded and defamatory.” The company stated that Tang resigned from his position in March 2024 and that it is cooperating with the authorities.

The fraud scheme of Tang is just the latest in a series of financial scandals that have hit the crypto sector in recent years.

These scandals have raised doubts about the legitimacy and security of cryptocurrencies and have led to increased calls for regulation by governments around the world.

The additional details on the fraud scheme

Tang would have used various fictitious companies to hide his fraudulent activities.

He would have falsified the company documents to mask the transfer of funds.

Using his position to approve fraudulent transactions.

In conclusion, he would have convinced investors to invest in the Epoch Times platform by making false promises of high returns.

The accusations against Tang are serious and, if found guilty, he could face a significant prison sentence. This case is a reminder of the risks associated with investing in cryptocurrency and it is important to do your own research before investing in any cryptocurrency.

In addition to the SEC accusations, Tang is also under a criminal investigation by the Federal Bureau of Investigation (FBI). If convicted of criminal offenses, he could face additional penalties, including fines or imprisonment.

Conclusions 

The 67 million dollar fraud scheme orchestrated by the CFO of Epoch Times, John Tang, is a striking example of the corruption and deceit that can occur in the cryptocurrency sector. 

The accusations against Tang highlight the need for greater regulation and oversight of the sector, in order to protect investors from the risks associated with these cryptocurrencies.

The case of Tang is a warning for all those who are considering investing in crypto. It is important to do your own research and understand the risks involved before investing any amount of money. Additionally, it is crucial to invest only in cryptocurrencies on reliable and regulated platforms.

The fraud scheme of Tang had a significant impact on Epoch Times, damaging the reputation of the company and putting its future at risk. This case is a sad reminder of the negative consequences that can result from fraudulent activities.

It is important that the cryptocurrency sector takes measures to address issues of corruption and deceit.

Only through greater transparency, accountability, and regulation can the sector gain the trust of investors and reach its full potential.

According to what was stated by CryptoQuant, the trend of Bitcoin’s price remains bullish, despite everything. 

For the same reasons, Ethereum also appears to be still bullish. 

The accumulation of Bitcoin: latest bullish signal

Everything starts from an analysis of the so-called accumulation addresses. 

Growth Surge in #Bitcoin and #Ethereum Accumulation Addresses: What It Means for the Crypto Market

“This phenomenon indicates that even with Bitcoin and Ethereum experiencing price stability, investor sentiment remains bullish” – By @Crazzyblockk

Linkhttps://t.co/Tmmv9cIadl

— CryptoQuant.com (@cryptoquant_com) May 31, 2024

In the world of finance, the terms “bull” and “bear” are often used to describe market trends. A “bull” market is characterized by rising prices, while a “bear” market is marked by falling prices. Understanding these concepts is crucial for investors.

CryptoQuant publishes several charts on the trend of Bitcoin, and one of these is precisely the chart called “BTC Accumulation Addresses“.

This is a chart produced by the user Crazzyblockk that shows the BTC accumulated by a set of public addresses. 

Focusing particularly on what has happened in the last month, Crazzyblockk points out that there has been a small surge in the growth of accumulation addresses for Bitcoin and Ethereum.

Considering the current trend of demand in the crypto market, and examining the accumulation addresses of BTC and ETH, it would be evident that in the last month there has been a significant increase in the number of new accumulation addresses.

All this despite prices remaining substantially stable, with relatively modest growth compared to that of previous months,

According to Crazzyblockk, this phenomenon would indicate that investor sentiment on Bitcoin and Ethereum is still remaining bullish, even in a period of price stability, because more and more investors would be eager to join the ranks of BTC and ETH holders. 

The whales

In financial markets, it is always necessary to distinguish the behavior of small retail investors from that of the large whales, who are often institutional investors, even though in the crypto markets there are also rare retail whales.

Investors – and especially speculators – retail tend to be driven by emotions, and therefore buy mainly when the sentiment is clearly positive, while they tend to sell when it is negative. 

The whales, on the other hand, are rarely influenced by emotions and behave differently. They often do nothing when there is too much emotion in the markets, preferring a more rational and considered approach. 

The price of Bitcoin has been moving sideways for two weeks now in a range between $67,000 and $70,000, making it clear that this is a very low-emotion moment for the crypto markets.

Precisely for this reason, it could instead be a good time for the whales, who in a framework of relative stability have more time to analyze the situation and carefully consider their choices. 

According to what the CryptoQuant chart reveals, it would be a period of accumulation, in which the more rational investors are trying to purchase BTC and ETH in anticipation of future increases. 

The retail

The interest of retail in Bitcoin is instead at the lowest of 2024, as demonstrated by the chart of searches for the word Bitcoin on Google in the last 90 days globally.

Therefore, it is extremely unlikely that retail investors are accumulating at this moment, also because their cumulative purchasing power does not appear to be particularly significant in times when interest is low. 

It is worth noting that at the end of April, when the price of BTC dropped below $57,000 for a brief moment, it was precisely substantial purchases that prevented a further decline. At the time, many expected a drop even below $53,000, but those substantial purchases prevented the further price decline.

It is very likely that the retail, driven by fear, sold en masse between April 12 and May 1, and at that point more rational investors may have stepped in who, putting aside emotions like fear, instead rationalized the situation and considered that a good moment to buy. 

In fact, the sharp decline in general interest in Bitcoin began on April 21, after the bulk of the fear had subsided. 

The fact that since May 2nd there has been a rebound in the price of Bitcoin, without the interest of retail growing, indicates that after selling in April, retail might be ready to buy again, in case of a return of enthusiasm. 

The wall at $70,000: Is Bitcoin still bullish?

Yesterday the price of Bitcoin tried to surpass $70,000, but it was literally pushed down, even if only slightly. 

The fact is that, as highlighted by the analysts at Bitfinex, since mid-March there are several long-term BTC holders who are taking advantage of the high prices to take profit.

The psychological threshold of 70,000$ seems to be perfect for triggering the desire to take profit, from those who have acquired Bitcoin at significantly lower costs. 

The thing seems to clash with Crazzyblockk’s revelation that this is a period of accumulation, but in reality, the two visions are perfectly complementary. 

In fact, those who are accumulating are those who have not yet put BTC in their portfolio, or who have put too few, in their view, while those who are taking profit are those who have already amply accumulated in the past at much lower costs. 

It should not be forgotten that the historical peak price of Bitcoin before 2024 was precisely the current 69,000, so over 70,000$ all those who bought before March 2024 are in profit. 

At the moment when these profit-taking activities should stop, and given that accumulation seems to be continuing even with BTC at $69,000, the hypothesis that the bullrun might resume sooner or later must be considered absolutely possible. 

Despite the recent conviction of guilt for Donald Trump, the traders of Polymarket continue to bet on his victory in the 2024 elections. Not only that, for 75% of the bets it seems that Trump will not go to prison.

Donald Trump and the traders on Polymarket: increasing bets on his victory as President of the USA

At the end of May, Donald Trump was declared guilty of as many as 34 charges by the Manhattan court. Despite the conviction, the candidate for the Presidency of the United States still seems to be the favorite winner, at least for the traders of Polymarket. 

Polymarket is a platform where users buy and sell shares using crypto, betting on the probability of future events occurring. 

And indeed, Polymarket itself shared on X the betting situation on the “winner of the 2024 Presidential elections” with Donald Trump leading with 54% of the votes. 

.@Polymarket – 2024 Presidential Election Winner:

Donald Trump 54% (+16)
Joe Biden 38%
Robert F. Kennedy Jr. 2%https://t.co/ifkXXe8Ptf https://t.co/oUfBNxzi1F pic.twitter.com/aA5yo9ngzf

— Political Polls (@Politics_Polls) June 3, 2024

“Winner of the 2024 presidential elections: Donald Trump 54% (+16); Joe Biden 38%; Robert F. Kennedy Jr. 2%.”

At the moment, then, the situation has also changed. The bets on Donald Trump as the new President of the USA have risen to 56%, while on Joe Biden they have fallen to 37%.

Donald Trump and the bets on Polymarket: for traders, he will not go to prison

Another bet on Polymarket also reveals that the majority of traders bet that Donald Trump will not go to prison. 

Specifically, 75% of traders have bet that Trump will not go to prison, while 18% have bet on the range of 1-11 months of prison. Then, 3% of traders have bet that Trump will go to prison for over 48 months. 

A similar bet, also on Polymarket, instead concerned the case of Sam Bankman-Fried (SBF), founder and former CEO of the failed crypto-exchange FTX. Even SBF, during the week of waiting for the verdict on his sentence, was the protagonist of bets on the number of years of prison he would receive.

With hindsight, only 28% of traders would have won, betting on the 20-30 year prison range, given that the sentence for SBF was 25 years in prison.

The situation on crypto regulation in the USA?

The conviction of Trump could also concern the crypto world, given that in this year of electoral campaign and voting, the candidate for the Presidency of the USA is showing support for the sector.

In the month of May, in fact, it emerged that Trump’s election campaign has started to accept Bitcoin (BTC), Ethereum (ETH), and other crypto. 

Not only that, Trump has also promised that if he is elected President of the USA, he will proceed with the liberation of Ross Ulbricht, founder of Silk Road, sentenced to two life sentences plus 40 years in prison. As is well known, Ulbricht has become a sort of martyr for many, even in the crypto community. 

After months of volatility and uncertainties, the price of Bitcoin is once again approaching the $70,000 threshold, changing the perspective of the analyses.

According to a recent report by Bitfinex, one of the main cryptocurrency exchange platforms, the selling pressure that characterized the collapse of Bitcoin starting from March seems to be behind us now.

Bitcoin Analysis: from the price crash in March to accumulation

The cryptocurrency market is notoriously volatile, and Bitcoin is no exception. The crash in March was one of the most difficult moments for the cryptocurrency, with a drastic decrease in price caused primarily by the selling by long-term holders.

These investors, frightened by market turbulence and global economic uncertainties, have decided to liquidate their positions, causing a downward spiral in the value of Bitcoin.

However, the blockchain data analyzed by Bitfinex shows a significant change. The hopeful selling pressure that triggered the correction seems to have halted, and investors are once again accumulating BTC. 

This trend change is crucial for the future of the cryptocurrency market. Bitfinex has observed that investor behavior has changed, with many resuming to purchase Bitcoin and holding their positions, hoping for further appreciation in value.

The accumulation of Bitcoin by investors is a key indicator of confidence in the future of the cryptocurrency. 

According to Bitfinex, this new phase of accumulation is driven by a series of factors, including the increase in institutional adoption, positive signals from technical analysis, and expectations of more favorable regulation. 

The major financial institutions are showing an increasing interest in Bitcoin, seeing it as a store of value and a portfolio diversification opportunity.

Technical and fundamental factors

From a technical standpoint, Bitcoin has shown strong resilience, bouncing back from the March lows and surpassing several key resistances. 

The technical analysts at Bitfinex have highlighted that the next crucial target is the $70,000 threshold, a level that, if surpassed, could pave the way for new all-time highs. The fundamental data supports this optimistic view. 

The hashrate of the Bitcoin network, which represents the total computing power dedicated to mining, has reached new peaks, indicating a strong commitment from the miners.

Institutional adoption is one of the main drivers of the recent growth of Bitcoin. Companies like Tesla, MicroStrategy, and Square have made headlines with their significant investments in Bitcoin, contributing to legitimizing the cryptocurrency in the eyes of traditional investors. 

Furthermore, investment funds and banks are increasingly integrating Bitcoin into their product offerings, making it accessible to a wider audience.

Another factor that is positively influencing the market is the prospect of clearer and more favorable regulation. Regulatory authorities in various countries are working to create a regulatory framework that protects investors without stifling innovation. 

This balance is essential for the future of criptovalute, as overly strict regulation could hinder growth, while too permissive regulation could expose the market to excessive risks.

The future of Bitcoin

Looking ahead, the future of Bitcoin seems promising. The end of the selling pressure and the beginning of a new accumulation phase indicate that investors have regained confidence in the cryptocurrency. 

The growing institutional adoption, the solid technical fundamentals, and the prospect of clearer regulation create a favorable environment for further growth.

In conclusion, while Bitcoin knocks on the door of $70,000, the cryptocurrency market shows signs of maturation and stability. 

Investors, both retail and institutional, are looking with renewed interest at the potential of Bitcoin, not only as a speculative tool but as a true store of value for the future. 

The end of the selling pressure is just the beginning of a new era for Bitcoin, and the market is ready to see if it will manage to reach and surpass new milestones.

In these days, some forecasts on the price trends of some crypto have been released, particularly those of Ripple, Solana, and Ethereum. 

The crypto market is experiencing a moment of relative calm, and as often happens in this sector, the calm could be followed by the storm.

The forecast on the crypto Ripple (XRP): the comparison with Solana and Ethereum

The price of XRP, that is the crypto of Ripple, has not been recording particularly significant movements for a long time. 

It started the year at $0.6, after reaching up to $0.8 during 2023, and during these first months of 2024, it has been limited to lateralizing between $0.5 and $0.7. 

Although over the past 12 months it has recorded three significant price increases, these have always been followed by a decline that brought the price back around $0.5. 

By now, it has been unable to break away from this base level since the end of 2020, even though it managed to surpass even $3 during the last great bull run. However, it was only the classic speculative bubble, after the burst of which everything returned to normal.

The current price is in line with $0.5, and it is also in line with that of a month and a half ago or early February. 

Despite this, there are some analysts who believe a new major boom is possible.

$XRP Vs $BTC Monthly.

On the monthly timeframe, $XRP price vs $BTC is in reversal territory. The last 3 entries into this are have seen significant moves to the upside.

Additionally, the monthly RSI is at it's lowest EVER reading vs $BTC.

The last two occasions we saw this… pic.twitter.com/ZdVRPEngNi

— Cryptoinsightuk (@Cryptoinsightuk) May 31, 2024

The reasoning behind this hypothesis is that over a monthly time frame the price of XRP would be in reversal territory, if compared to that of BTC. The last 3 times it happened 

something similar was then seen with significant movements to the bull.

Additionally, the monthly RSI is at its lowest value ever, compared to BTC.

In a strict sense, however, this is not a true forecast, but a bullish hypothesis due to the analysis of the past: it is by no means certain that the past will repeat itself. 

The latest performance of Solana (SOL)

The native crypto of the Solana ecosystem is SOL. 

SOL had a truly impressive 2023, thanks to a rise from around 10$ to around 100$.

During the course of this year, the upward trend continued for a while, that is until the annual peak of over $200 shortly after mid-March, but then it seems to have halted.

However, although the price later fell below $130, only to reposition itself above $160, the levels reached after the annual peak remained enormously higher than those with which it had started 2024. In fact, they turned out to be higher even than the annual peak of 2023, which was just above $120.

Moreover, the historical record of 2021 was reached at around 260$, so not much higher than the 200$ of March. 

However, this does not seem capable of ensuring that the trend can return to being bullish. 

The hypotheses seem to be two, in the short term: either it manages to get back to $200, or it risks falling below $150.

It should not be forgotten that memecoins now tend to have positive effects also on the price of SOL, given that one of the main ones is indeed a token on Solana. 

At this moment, the SOL price is consolidating within a narrow range between $163 and $172. This suggests the possibility of triggering a broad forward movement.

However, it is not at all certain that this will happen, and in the event that the broad forward movement does not occur, a bit of disappointment could spread, which in turn could bring the price back below $150.

This is therefore a moment of uncertainty after a ride that lasted for more than 5 months. Perhaps it is precisely this ride that makes a new sprint towards 200$ a bit more difficult. 

Analysis of Ethereum (ETH) Price

The speech for Ethereum, and its native crypto ETH, is still different.

In this case, in fact, there is a certainty: the actual landing on the USA stock exchanges of the ETFs on ETH spot scheduled for early July, or late June. 

During the course of 2024, the price of ETH first rose from $2,200 to nearly $4,100, and then returned to $2,800. 

Although these levels are still much higher than the $1,500 from which the bull run at the end of 2023 started, the trend of 2024 seemed a bit disappointing when compared to that of Bitcoin.

But Bitcoin has been able to benefit from the launch of spot BTC ETFs on US exchanges, while ETH has not yet. In fact, as soon as the news spread that the SEC was intending to approve spot Ethereum ETFs, the price of ETH returned above $3,700.

Now there is a lot of anticipation for the actual stock market debut, although it should be remembered that in the two weeks following the stock market debut in the USA of spot Bitcoin ETFs, the price of BTC fell. This makes it seem still a bit too early to imagine a rise in the price of ETH. 

Furthermore, according to some analysts, capital inflows into ETH ETFs could prove to be significantly lower than those into BTC ETFs. 

In fact, for example, the analysts at JPMorgan predict a drop in the price of ETH after the actual stock market debut of the ETFs. 

Although it cannot be ruled out that the price may rise before the launch, the fact that many believe a post-launch drop is possible means that the chances of a pre-launch rise are reduced. 

However, if one goes further, that is, after the post-launch decline, the trend in the medium to long term could still prove to be positive. 

It should not be forgotten that during this 2024 the price of Ethereum has not yet managed to return to the historical highs of 2021, while that of Bitcoin has. Much will depend on the potential success, or failure, of the ETFs on ETH spot on the US exchanges, on which there is still a certain margin of uncertainty at this moment. 

Chainlink, the crypto project of decentralized Oracle networks, stepped in after the incident at the NYSE, when the Berkshire Hathaway stock appeared to drop by 99%. Chainlink co-founder, Sergey Nazarov, explained his solution that would improve the stability of the stock exchange. 

Chainlink: the crypto project of Oracles as a solution to the NYSE inconvenience

Yesterday, June 3, trading on the New York Stock Exchange (NYSE) was abruptly halted, after the class A shares of Berkshire Hathaway appeared to drop in value by 99.97%.

In fact, from the price of 627,214.90 dollars, the shares dropped to 185.10 dollars. This interruption, coded as M, was caused by volatility and the reason for the sudden drop is still unclear.

Not only that, as reported by Bloomberg, it seems that in a related incident, a malfunction at the NYSE operator caused the interruption of volatility trading in a dozen other companies, such as McDonald’s and Wells Fargo.

The Depository Trust & Clearing Corporation (DTTC) is currently experimenting with the use of blockchain technology with Chainlink to speed up mutual fund settlements, but it seems that the stock market needs blockchain more than it knows.

On X, the Coin Bureau highlighted how the decentralized oracle network of Chainlink would be the solution to the problem. 

Berkshire Hathaway's Stock price is down 99% in an apparent market glitch.

The NYSE really needs to use better Oracle providers. pic.twitter.com/nHrI0Qe884

— Coin Bureau (@coinbureau) June 3, 2024

“The price of Berkshire Hathaway shares has dropped by 99% due to an apparent market issue. The NYSE really needs to use better Oracle providers.”

Chainlink: the co-founder of the crypto company explains the importance of Oracles for traditional finance

Regarding this inconvenience of the NYSE, even the co-founder of Chainlink, Sergey Nazarov, explained how the network of decentralized oracles can remedy the points of failure of centralized systems. 

Here are the words of Nazarov:

“The decentralized oracle networks, which were invented by Chainlink, can mitigate these risks by providing accurate and tamper-proof data. These networks aggregate data from various sources and use consensus mechanisms to validate the information, ensuring data integrity and preventing erroneous operations and price manipulations. The incorporation of blockchain technology would allow for real-time verification and automatic responses to anomalies, significantly improving the reliability and transparency of current financial markets.”

In practice, Oracolo networks were invented to overcome the problem of real price data for smart contracts. 

In fact, Oracle networks provide smart contracts with the real-world data they need to function as financial instruments and commercial contracts. Thanks to the decentralized network of nodes to process and validate the data, oracles ensure that the data does not come from a single source, preventing the single points of failure inherent in centralized information systems.

Cryptocurrency trading at the NYSE

Recently, Lynn Martin, President of the NYSE, during the Consensus 2024, stated that she wants to consider offering cryptocurrency trading, but only if the regulatory framework is clearer. 

For Martin, crypto trading is also to be considered as an opportunity for expansion for the stock market giant. 

Also Tom Farley, CEO of Bullish and also predecessor of Martin at the NYSE, has released his own forecast on the matter. According to Farley, the US regulatory environment in the crypto sector will improve over the next two years.