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@Thebitcoinfuture
In #Crypto space since 2014,Sharing market review on a Daily basis #Btc #Alts
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$XRP
Ripple escrow timelock expired on Monday, and one billion XRP tokens were unlocked.
The one billion token unlock is part of Ripple’s unlocks scheduled till January 2025.
XRP hovers around $0.48 on Tuesday, adding more than 1% to its value on the day.
Ripple escrow timelock expired on Monday, and one billion XRP tokens were unlocked.
The one billion token unlock is part of Ripple’s unlocks scheduled till January 2025.
XRP hovers around $0.48 on Tuesday, adding more than 1% to its value on the day.
Bitcoin trades near key levels
The possibility of higher-for-longer U.S. borrowing costs has dampened enthusiasm for the cryptocurrency market, with bitcoin being the world’s biggest cryptocurrency.
A series of Federal Reserve officials have made it clear that they need to see more progress in taming inflation, even after last week’s weaker-than-expected U.S. inflation data, resulting in the U.S. central bank forecasting only one interest rate cut this year, compared to the prior forecast for three cuts.
At the same time, recent data, including Tuesday’s U.S. retail sales release, suggested that consumers are feeling the pinch of the elevated interest rates.
Activity is likely to be limited Wednesday, with the U.S. celebrating the Juneteenth holiday, but bitcoin could be trading near key levels that could determine the short-term trajectory of the largest crypto asset.
Bitcoin now exhibits the potential to rebound toward $67,000, according to the analytics platform Glassnode.
However, this level may create resistance, and overcoming it could set the digital currency on a path toward an even higher target of $69,500. On the flip side, the $65,000 mark is being watched as a crucial psychological support level, one that could play a pivotal role in maintaining investor confidence.
Bitcoin hit a record of $73,797.68 on March 14, and it last tested that level at the beginning of June.
63300 & 59800 is our support levels 👍🏻
The possibility of higher-for-longer U.S. borrowing costs has dampened enthusiasm for the cryptocurrency market, with bitcoin being the world’s biggest cryptocurrency.
A series of Federal Reserve officials have made it clear that they need to see more progress in taming inflation, even after last week’s weaker-than-expected U.S. inflation data, resulting in the U.S. central bank forecasting only one interest rate cut this year, compared to the prior forecast for three cuts.
At the same time, recent data, including Tuesday’s U.S. retail sales release, suggested that consumers are feeling the pinch of the elevated interest rates.
Activity is likely to be limited Wednesday, with the U.S. celebrating the Juneteenth holiday, but bitcoin could be trading near key levels that could determine the short-term trajectory of the largest crypto asset.
Bitcoin now exhibits the potential to rebound toward $67,000, according to the analytics platform Glassnode.
However, this level may create resistance, and overcoming it could set the digital currency on a path toward an even higher target of $69,500. On the flip side, the $65,000 mark is being watched as a crucial psychological support level, one that could play a pivotal role in maintaining investor confidence.
Bitcoin hit a record of $73,797.68 on March 14, and it last tested that level at the beginning of June.
63300 & 59800 is our support levels 👍🏻
Bitcoin price triggered a quick 2.05% downtick on Friday.
Despite being a small downturn, altcoins took a massive hit and are down by double digits.
BTC’s uncertainty has created a dilemma on whether they should buy the dip or sell.
The cryptocurrency market has been extremely sensitive to Bitcoin (BTC) price moves lately. The recent crash caused altcoins to register double-digit losses. While some argue this could be a good opportunity to buy the dip, others warn of an impending sell-off.
Bitcoin price moves have been key in controlling the crypto market sentiment. But lately, the altcoin sector has become extremely sensitive to pioneer crypto. On Friday, BTC shed 2.05%, which caused major altcoins to slide 20%.
Due to this highly sensitive connection between BTC and altcoins, the Open Interest (OI) dropped from $50.93 billion on Thursday to $46.85 billion on Sunday. This drop indicates that $4.21 billion in OI was wiped due to the move on Friday.
As a result of Friday's market crash, $300 million worth of positions were wiped out. Of this, $254 million belong to the bulls.
Despite being a small downturn, altcoins took a massive hit and are down by double digits.
BTC’s uncertainty has created a dilemma on whether they should buy the dip or sell.
The cryptocurrency market has been extremely sensitive to Bitcoin (BTC) price moves lately. The recent crash caused altcoins to register double-digit losses. While some argue this could be a good opportunity to buy the dip, others warn of an impending sell-off.
Bitcoin price moves have been key in controlling the crypto market sentiment. But lately, the altcoin sector has become extremely sensitive to pioneer crypto. On Friday, BTC shed 2.05%, which caused major altcoins to slide 20%.
Due to this highly sensitive connection between BTC and altcoins, the Open Interest (OI) dropped from $50.93 billion on Thursday to $46.85 billion on Sunday. This drop indicates that $4.21 billion in OI was wiped due to the move on Friday.
As a result of Friday's market crash, $300 million worth of positions were wiped out. Of this, $254 million belong to the bulls.
Ethereum open interest surges by 50%, SEC Chair says ETH ETF launch will take more time
Ethereum ETFs ‘will take some time’ before they launch, according to SEC Chair.
ETH's open interest on exchanges surged 50% to a new all-time high after SEC’s U-turn towards ETH ETFs.
New accumulating addresses holding 10-10K and 10K-100K ETH have grown steadily after ETH ETF 19b-4 approvals.
Ethereum (ETH) price hovered around $3,860 on Wednesday following Securities & Exchange Commission (SEC) Chair Gary Gensler expressing his opinion that the launch of spot ETH ETFs may be delayed. Meanwhile, Ethereum derivatives products on exchanges have seen a surge in open interest (OI).
Daily digest market movers: ETH ETFs delay, rising open interest, new accumulating addresses growth
In an interview with CNBC on Wednesday, SEC Chair Gary Gensler said spot ETH ETFs would "take some time" before they go live on exchanges, indicating S-1 approvals are not imminent. He noted that his agency is still working on disclosure measures with exchanges.
Ethereum ETFs ‘will take some time’ before they launch, according to SEC Chair.
ETH's open interest on exchanges surged 50% to a new all-time high after SEC’s U-turn towards ETH ETFs.
New accumulating addresses holding 10-10K and 10K-100K ETH have grown steadily after ETH ETF 19b-4 approvals.
Ethereum (ETH) price hovered around $3,860 on Wednesday following Securities & Exchange Commission (SEC) Chair Gary Gensler expressing his opinion that the launch of spot ETH ETFs may be delayed. Meanwhile, Ethereum derivatives products on exchanges have seen a surge in open interest (OI).
Daily digest market movers: ETH ETFs delay, rising open interest, new accumulating addresses growth
In an interview with CNBC on Wednesday, SEC Chair Gary Gensler said spot ETH ETFs would "take some time" before they go live on exchanges, indicating S-1 approvals are not imminent. He noted that his agency is still working on disclosure measures with exchanges.
$BTC #BTC
NYSE president commends Bitcoin ETFs amid skeptical views from financial advisors
Lynn Martin, the New York Stock Exchange group president, says you can't argue with the success of Bitcoin ETFs.
US financial advisors remain skeptical of Bitcoin ETFs amid market enthusiasm.
An interview conducted by CNBC suggests that advisors are not recommending Bitcoin ETF investments, citing clients' safety as a reason.
Five months after the approval of Bitcoin ETFs, financial investors still show restraint in recommending the largest digital asset. However, Lynn Martin, President of the New York Stock Exchange (NYSE), praised the ETFs' resounding success in an interview on Friday.
Lynn Martin, the president of the New York Stock Exchange (NYSE), commended Bitcoin ETFs' current successes in an interview with CNBC on Friday.
"I think you can't argue with the success of Bitcoin ETFs and the liquidity it has brought to the underlying markets," Lynn said.
Lynn had earlier revealed her views on digital assets on Wednesday, stating her openness to cryptocurrencies and the NYSE's consideration for trading them if only the crypto market had clearer regulations.
Meanwhile, US financial advisors still have skeptical views on investments in Bitcoin ETFs. Despite the enthusiasm surrounding Bitcoin ETFs, including its recent feat of hitting 1 million BTC in assets under management (AUM), these experts still hold reservations about the number one cryptocurrency.
According to a CNBC report, most advisors stated that they are "neither initiating conversations nor fielding client inquiries about the ETFs." CNBC had surveyed a dozen members of an advisor council, including Baker. The results pointed out two major concerns of these individuals: volatility and regulatory uncertainties.
Before the launch of Bitcoin ETFs, these advisors had previously cited Bitcoin's high volatility as a reason for their skepticism.
However, many of these advisors believe that consistent inflows in the ETFs over the years would lower Bitcoin's volatility, making it more adoptable.
NYSE president commends Bitcoin ETFs amid skeptical views from financial advisors
Lynn Martin, the New York Stock Exchange group president, says you can't argue with the success of Bitcoin ETFs.
US financial advisors remain skeptical of Bitcoin ETFs amid market enthusiasm.
An interview conducted by CNBC suggests that advisors are not recommending Bitcoin ETF investments, citing clients' safety as a reason.
Five months after the approval of Bitcoin ETFs, financial investors still show restraint in recommending the largest digital asset. However, Lynn Martin, President of the New York Stock Exchange (NYSE), praised the ETFs' resounding success in an interview on Friday.
Lynn Martin, the president of the New York Stock Exchange (NYSE), commended Bitcoin ETFs' current successes in an interview with CNBC on Friday.
"I think you can't argue with the success of Bitcoin ETFs and the liquidity it has brought to the underlying markets," Lynn said.
Lynn had earlier revealed her views on digital assets on Wednesday, stating her openness to cryptocurrencies and the NYSE's consideration for trading them if only the crypto market had clearer regulations.
Meanwhile, US financial advisors still have skeptical views on investments in Bitcoin ETFs. Despite the enthusiasm surrounding Bitcoin ETFs, including its recent feat of hitting 1 million BTC in assets under management (AUM), these experts still hold reservations about the number one cryptocurrency.
According to a CNBC report, most advisors stated that they are "neither initiating conversations nor fielding client inquiries about the ETFs." CNBC had surveyed a dozen members of an advisor council, including Baker. The results pointed out two major concerns of these individuals: volatility and regulatory uncertainties.
Before the launch of Bitcoin ETFs, these advisors had previously cited Bitcoin's high volatility as a reason for their skepticism.
However, many of these advisors believe that consistent inflows in the ETFs over the years would lower Bitcoin's volatility, making it more adoptable.
#pepe #btc $PEPE could set a new all-time high after large holders refused to book profit
Large holders are still holding onto PEPE despite its recent all-time high.
PEPE is on the brink of a new all-time high after an 8% rally.
Investors must exercise caution as few addresses control 65% of the token's supply.
PEPE is showing signs of a rally on Friday despite the refusal of large holders to sell. Other key on-chain data also support this move.
PEPE is up nearly 8% on Friday, aiming to set a new all-time high above $0.000017.
In May, PEPE rallied nearly 130%, setting and flipping new all-time highs along the way. The meme coin flipped Polygon (MATIC) and Litecoin (LTC) during its rise, making it the 21st largest cryptocurrency with a market cap of $6.55 billion.
However, PEPE's historical concentration shows that most whales are still holding onto their positions despite the meme coins reaching an all-time high on Monday. Hence, it hasn't experienced a huge correction.
Large holders are still holding onto PEPE despite its recent all-time high.
PEPE is on the brink of a new all-time high after an 8% rally.
Investors must exercise caution as few addresses control 65% of the token's supply.
PEPE is showing signs of a rally on Friday despite the refusal of large holders to sell. Other key on-chain data also support this move.
PEPE is up nearly 8% on Friday, aiming to set a new all-time high above $0.000017.
In May, PEPE rallied nearly 130%, setting and flipping new all-time highs along the way. The meme coin flipped Polygon (MATIC) and Litecoin (LTC) during its rise, making it the 21st largest cryptocurrency with a market cap of $6.55 billion.
However, PEPE's historical concentration shows that most whales are still holding onto their positions despite the meme coins reaching an all-time high on Monday. Hence, it hasn't experienced a huge correction.
Bitcoin is gathering its strength
Market picture
The crypto market added 1.3% in 24 hours to $2.58 trillion. This is roughly the area where trading has been centred for the last week, despite attempts by speculators to rock the market.
Volatility in the market has decreased, with prices of the major coins varying between -1.3% (Toncoin) and 3.3% (Solana), while Shiba Inu shot straight up 15% to its highest since early April.
Bitcoin continues to hover near the upper edge of the descending range, building up strength before the next move. All we have to do is reiterate that an exit above $70K will break this bearish pattern. Until then, the classic development is a pullback to the lower boundary, but we see this as an alternative option, suggesting a further breakout after consolidation.
According to CoinShares, net inflows into crypto funds totalled $1.05bn last week, up from $932m a week earlier. Bitcoin investments were up $1.01bn, Ethereum was up $36m, and Solana was up $8m.
News background
Cumulative ETF investments since the beginning of the year rose to a record $14.9 billion. The total AuM of crypto funds reached $98.5 billion. Weekly trading volumes rose 28% to $13.6 billion. CoinShares noted that sentiment is becoming generally positive, which is likely due to investors interpreting the FOMC minutes and recent macroeconomic data as slightly dovish.
MicroStrategy founder Michael Saylor pointed out that 32 cryptocurrency ETFs have accumulated more than 1 million BTC (~$70bn)—or about 5% of all asset issuance. According to SoSoValue, the largest ETF is still Grayscale's GBTC, with $20bn in assets under management (AUM), almost caught up by its closest competitor, BlackRock's IBIT.
Medical technology specialist Semler Scientific announced the purchase of 581 BTCs worth $40 million. According to the company, BTCs are now "the Treasury's primary reserve asset" because they are "a reliable store of value and an attractive investment." Semler Scientific shares jumped 28%.
Market picture
The crypto market added 1.3% in 24 hours to $2.58 trillion. This is roughly the area where trading has been centred for the last week, despite attempts by speculators to rock the market.
Volatility in the market has decreased, with prices of the major coins varying between -1.3% (Toncoin) and 3.3% (Solana), while Shiba Inu shot straight up 15% to its highest since early April.
Bitcoin continues to hover near the upper edge of the descending range, building up strength before the next move. All we have to do is reiterate that an exit above $70K will break this bearish pattern. Until then, the classic development is a pullback to the lower boundary, but we see this as an alternative option, suggesting a further breakout after consolidation.
According to CoinShares, net inflows into crypto funds totalled $1.05bn last week, up from $932m a week earlier. Bitcoin investments were up $1.01bn, Ethereum was up $36m, and Solana was up $8m.
News background
Cumulative ETF investments since the beginning of the year rose to a record $14.9 billion. The total AuM of crypto funds reached $98.5 billion. Weekly trading volumes rose 28% to $13.6 billion. CoinShares noted that sentiment is becoming generally positive, which is likely due to investors interpreting the FOMC minutes and recent macroeconomic data as slightly dovish.
MicroStrategy founder Michael Saylor pointed out that 32 cryptocurrency ETFs have accumulated more than 1 million BTC (~$70bn)—or about 5% of all asset issuance. According to SoSoValue, the largest ETF is still Grayscale's GBTC, with $20bn in assets under management (AUM), almost caught up by its closest competitor, BlackRock's IBIT.
Medical technology specialist Semler Scientific announced the purchase of 581 BTCs worth $40 million. According to the company, BTCs are now "the Treasury's primary reserve asset" because they are "a reliable store of value and an attractive investment." Semler Scientific shares jumped 28%.
Bitcoin (BTC) ETFs worldwide now hold a record 1 million BTC, according to a recent X post by MicroStrategy CEO Michael Saylor. With the new milestone, Bitcoin may see a rally as Presidential candidate Donald Trump makes another pro-crypto comment
Bitcoin ETFs set new record
Michael Saylor, CEO of MicroStrategy, recently made an X post on Monday about the significant achievement across Bitcoin ETFs worldwide, stating, "32 spot Bitcoin ETFs now hold '1 Nakamoto' of BTC," referring to 1 million BTC. This milestone was attained a little more than four months after Bitcoin ETFs went live on January 10.
US Bitcoin ETFs currently hold the largest amount, totaling 855,619 BTC. Grayscale, BlackRock, and Fidelity lead the list, with a combined holding of 737,746 BTC. BTC holdings among offshore ETFs also rose significantly.
Bitcoin ETFs hit new milestone as crypto community awaits price surge
CRYPTOS | 05/27/2024 21:58:50 GMT
Spot Bitcoin ETFs hit 1 million BTC milestone, holding 5% of the total supply.
The top three Bitcoin ETF holders are Grayscale, BlackRock, and Fidelity.
Upcoming US elections may impact Bitcoin's price following Donald Trump's latest pro-crypto comment.
Bitcoin (BTC) ETFs worldwide now hold a record 1 million BTC, according to a recent X post by MicroStrategy CEO Michael Saylor. With the new milestone, Bitcoin may see a rally as Presidential candidate Donald Trump makes another pro-crypto comment.
Bitcoin ETFs set new record
Michael Saylor, CEO of MicroStrategy, recently made an X post on Monday about the significant achievement across Bitcoin ETFs worldwide, stating, "32 spot Bitcoin ETFs now hold '1 Nakamoto' of BTC," referring to 1 million BTC. This milestone was attained a little more than four months after Bitcoin ETFs went live on January 10.
US Bitcoin ETFs currently hold the largest amount, totaling 855,619 BTC. Grayscale, BlackRock, and Fidelity lead the list, with a combined holding of 737,746 BTC. BTC holdings among offshore ETFs also rose significantly.
Bitcoin ETFs hit new milestone as crypto community awaits price surge
CRYPTOS | 05/27/2024 21:58:50 GMT
Spot Bitcoin ETFs hit 1 million BTC milestone, holding 5% of the total supply.
The top three Bitcoin ETF holders are Grayscale, BlackRock, and Fidelity.
Upcoming US elections may impact Bitcoin's price following Donald Trump's latest pro-crypto comment.
Bitcoin (BTC) ETFs worldwide now hold a record 1 million BTC, according to a recent X post by MicroStrategy CEO Michael Saylor. With the new milestone, Bitcoin may see a rally as Presidential candidate Donald Trump makes another pro-crypto comment.
$ETH $BTC
Ethereum spot ETFs are good for Bitcoin, says Michael Saylor, as ETH bulls show confidence
Ethereum bulls push ETH's price as Fear and Greed Index shows investors' overconfidence.
Michael Saylor changes perspective, now believes spot ETH ETFs are net positive for Bitcoin.
Ethereum Pectra upgrade scheduled to launch in Q1 2025.
Ethereum (ETH) gained nearly 3% on Monday as investors exhibited high bullish sentiment. Michael Saylor also commented on the recent spot ETH ETF approval by the Securities & Exchange Commission (SEC).
Daily digest market movers: Bullish sentiment, Michael Saylor, Pectra upgrade
Following ETH's price gain on Monday, trading firm QCP Capital noted that market participants are becoming more bullish on the largest altcoin, considering potential institutional demand when spot ETH ETFs go live.
Ethereum spot ETFs are good for Bitcoin, says Michael Saylor, as ETH bulls show confidence
Ethereum bulls push ETH's price as Fear and Greed Index shows investors' overconfidence.
Michael Saylor changes perspective, now believes spot ETH ETFs are net positive for Bitcoin.
Ethereum Pectra upgrade scheduled to launch in Q1 2025.
Ethereum (ETH) gained nearly 3% on Monday as investors exhibited high bullish sentiment. Michael Saylor also commented on the recent spot ETH ETF approval by the Securities & Exchange Commission (SEC).
Daily digest market movers: Bullish sentiment, Michael Saylor, Pectra upgrade
Following ETH's price gain on Monday, trading firm QCP Capital noted that market participants are becoming more bullish on the largest altcoin, considering potential institutional demand when spot ETH ETFs go live.
#A large wallet investor has spent $863,000 to buy FLOKI and MAGA, since April 8.
In less than two months, the investor has gained over $3.5 million in unrealized profits, as FLOKI and MAGA prices rally.
FLOKI and MAGA have both noted an increase in active addresses and social dominance.
Crypto intelligence tracker Lookonchain identified a large wallet investor who has accumulated FLOKI (FLOKI) and MAGA TRUMP (MAGA) tokens, in exchange for Ether, since April 8. The tracker identified the wallet’s purchases and noted an unrealized gain of over $3.5 million, as the assets rallied.
Meme coins have consistently rallied in the past few weeks, likely a result of capital rotation from Bitcoin and Ethereum or rising demand among market participants.
FLOKI and MAGA prices rally amidst bullish on-chain metrics
Lookonchain tracked a wallet theunipcs.eth and noted that the investor spent 276.4 Ether ($863K) to buy 4.56 billion FLOKI (currently worth $1.1 million) and 18.45 Ether ($57K) to buy 6.27 billion MAGA (currently worth $3.48 million), since April 8. Since the investor’s purchase, they are sitting on unrealized gains of $3.4 million on MAGA and $245,000 on FLOKI holdings, per the tracker.
$FLOKI
In less than two months, the investor has gained over $3.5 million in unrealized profits, as FLOKI and MAGA prices rally.
FLOKI and MAGA have both noted an increase in active addresses and social dominance.
Crypto intelligence tracker Lookonchain identified a large wallet investor who has accumulated FLOKI (FLOKI) and MAGA TRUMP (MAGA) tokens, in exchange for Ether, since April 8. The tracker identified the wallet’s purchases and noted an unrealized gain of over $3.5 million, as the assets rallied.
Meme coins have consistently rallied in the past few weeks, likely a result of capital rotation from Bitcoin and Ethereum or rising demand among market participants.
FLOKI and MAGA prices rally amidst bullish on-chain metrics
Lookonchain tracked a wallet theunipcs.eth and noted that the investor spent 276.4 Ether ($863K) to buy 4.56 billion FLOKI (currently worth $1.1 million) and 18.45 Ether ($57K) to buy 6.27 billion MAGA (currently worth $3.48 million), since April 8. Since the investor’s purchase, they are sitting on unrealized gains of $3.4 million on MAGA and $245,000 on FLOKI holdings, per the tracker.
$FLOKI
Arbitrum community opened a vote for its Gaming Catalyst Program (GCP) to boost support for game builders in the ARB ecosystem. The plan is to strategically allocate 200 million ARB to game projects within Arbitrum. The token has sustained its gains from the week.
Arbitrum sustains gains from the week as community votes on GCP
Focused on strategically allocating resources to game builders within the Arbitrum ecosystem, the community has opened a snapshot vote for the Gaming Catalyst Program.
The concept is to allocate 200 million ARB to projects within the ecosystem and evaluate whether the Decentralized Autonomous Organization (DAO) has reached a consensus.
The foundation will use time and resources to create legal entities for the Game Working Group, considered the interim custodian until the mission is defined and the DAO approval obtained.
The necessary details of the proposal will be mapped out and submitted to the DAO. The group will return with a final staffing plan and interim funding request within 30 days of the proposal’s adoption.
The proposal has majority support as seen on Tally.xyz
At the time of writing, ARB price is $1.1927, up nearly 20% since Sunday, May 12.
ARB has sustained its gains of 17.60% from the week, rallying towards the May 23 high of $1.2600.
Arbitrum sustains gains from the week as community votes on GCP
Focused on strategically allocating resources to game builders within the Arbitrum ecosystem, the community has opened a snapshot vote for the Gaming Catalyst Program.
The concept is to allocate 200 million ARB to projects within the ecosystem and evaluate whether the Decentralized Autonomous Organization (DAO) has reached a consensus.
The foundation will use time and resources to create legal entities for the Game Working Group, considered the interim custodian until the mission is defined and the DAO approval obtained.
The necessary details of the proposal will be mapped out and submitted to the DAO. The group will return with a final staffing plan and interim funding request within 30 days of the proposal’s adoption.
The proposal has majority support as seen on Tally.xyz
At the time of writing, ARB price is $1.1927, up nearly 20% since Sunday, May 12.
ARB has sustained its gains of 17.60% from the week, rallying towards the May 23 high of $1.2600.
"US Presidential candidate Donald Trump shared positive views on crypto, posting on social media platform, “I am very positive and open minded to cryptocurrency companies and all things related to this new and burgeoning industry.”
Crypto has emerged as a key topic in the upcoming presidential election in the US with Trump expressing his support for self custody.
Donald Trump addresses pro-crypto voters on social media
Per a report from Washington-based Politico, crypto is used by a fraction of the voters in America. Despite this it has an outsized impact on US politics. Cryptocurrency firms and groups are preparing to spend over $80 million in 2024 elections, per the report.
The Federal Reserve’s May 2024 report on “Economic Well-being of US households” shows that only 7 percent of adults held or used cryptocurrency in 2023, a decline of 5 percentage points from 2021.
US Presidential candidate Trump posted on his Truth Social account,
"I am very positive and open minded to cryptocurrency companies and all things related to this new and burgeoning industry. Our country must be the leader in the field and there is no second place."
Trump supports US voters’ right to self custody of crypto and has taken a pro-crypto stance in the elections, per his posts on social media, and his statements when addressing rallies.
The Polymarket prediction platform shows that there is 56% chance of former President Trump winning the US election.
With a crypto bill FIT21 being passed in one House of the Congress and crypto’s dominant role in the Presidential elections, it remains to be seen how Securities and Exchange Commission’s (SEC) lawsuits against Ripple and Coinbase will end.
Crypto has emerged as a key topic in the upcoming presidential election in the US with Trump expressing his support for self custody.
Donald Trump addresses pro-crypto voters on social media
Per a report from Washington-based Politico, crypto is used by a fraction of the voters in America. Despite this it has an outsized impact on US politics. Cryptocurrency firms and groups are preparing to spend over $80 million in 2024 elections, per the report.
The Federal Reserve’s May 2024 report on “Economic Well-being of US households” shows that only 7 percent of adults held or used cryptocurrency in 2023, a decline of 5 percentage points from 2021.
US Presidential candidate Trump posted on his Truth Social account,
"I am very positive and open minded to cryptocurrency companies and all things related to this new and burgeoning industry. Our country must be the leader in the field and there is no second place."
Trump supports US voters’ right to self custody of crypto and has taken a pro-crypto stance in the elections, per his posts on social media, and his statements when addressing rallies.
The Polymarket prediction platform shows that there is 56% chance of former President Trump winning the US election.
With a crypto bill FIT21 being passed in one House of the Congress and crypto’s dominant role in the Presidential elections, it remains to be seen how Securities and Exchange Commission’s (SEC) lawsuits against Ripple and Coinbase will end.
$SOL & $XRP Solana & Xrp ETFs maybe on the cards in 2025, Standard Chartered analyst says.
Ethereum ETF approval may open the floodgates to assets like Solana and XRP that may receive approval for ETFs in 2025.
Standard Chartered analysts say that cryptocurrencies like Solana and XRP will not be classified as securities.
SOL wiped out nearly 6% value on Friday, while XRP price is nearly unchanged on the day.
Ethereum Exchange Traded Fund (ETF) approval news has renewed optimism on Solana and XRP ETFs approval in 2025. Analysts at Standard Chartered believe more cryptocurrency ETFs may be approved next year, and these assets will not be classified as securities.
Adrian Zduńczyk’s Birb Nest calls market participants to “unleash a full-blown meme mania on Solana.”
Solana and XRP ETFs could be approved next
As market participants celebrate the approval of Ethereum ETFs, analysts turn their attention to the next asset that could see an Exchange Traded Fund (ETF) launch. An analyst behind the handle @CryptoKaleo said in a recent tweet, that the next three likely coins in line for ETF discussions are Solana (SOL), Avalanche (AVAX) and Dogecoin (DOGE).
Analyst at Standard Chartered Geoffrey Kendrick said that SOL and XRP ETFs may be approved in 2025. Kendrick believes that the approval of the ETH ETF means that Ether and similar cryptocurrencies (other altcoins) will not be classified as securities.
Analysts at The Birb Nest note that the Solana ETF narrative is being discussed on crypto Twitter and by the media, and “this will probably happen.” Analysts say that the market definitely needs more time to introduce a legitimate crypto regulatory framework. While regulation may take time, analysts call market participants to “unleash a full-blown meme mania” on Solana.
In the ongoing cycle, Solana meme coins have consistently posted gains, positioning themselves nearly at par with large market capitalization meme tokens like Dogecoin (DOGE) and Shiba Inu (SHIB).
Ethereum ETF approval may open the floodgates to assets like Solana and XRP that may receive approval for ETFs in 2025.
Standard Chartered analysts say that cryptocurrencies like Solana and XRP will not be classified as securities.
SOL wiped out nearly 6% value on Friday, while XRP price is nearly unchanged on the day.
Ethereum Exchange Traded Fund (ETF) approval news has renewed optimism on Solana and XRP ETFs approval in 2025. Analysts at Standard Chartered believe more cryptocurrency ETFs may be approved next year, and these assets will not be classified as securities.
Adrian Zduńczyk’s Birb Nest calls market participants to “unleash a full-blown meme mania on Solana.”
Solana and XRP ETFs could be approved next
As market participants celebrate the approval of Ethereum ETFs, analysts turn their attention to the next asset that could see an Exchange Traded Fund (ETF) launch. An analyst behind the handle @CryptoKaleo said in a recent tweet, that the next three likely coins in line for ETF discussions are Solana (SOL), Avalanche (AVAX) and Dogecoin (DOGE).
Analyst at Standard Chartered Geoffrey Kendrick said that SOL and XRP ETFs may be approved in 2025. Kendrick believes that the approval of the ETH ETF means that Ether and similar cryptocurrencies (other altcoins) will not be classified as securities.
Analysts at The Birb Nest note that the Solana ETF narrative is being discussed on crypto Twitter and by the media, and “this will probably happen.” Analysts say that the market definitely needs more time to introduce a legitimate crypto regulatory framework. While regulation may take time, analysts call market participants to “unleash a full-blown meme mania” on Solana.
In the ongoing cycle, Solana meme coins have consistently posted gains, positioning themselves nearly at par with large market capitalization meme tokens like Dogecoin (DOGE) and Shiba Inu (SHIB).
NEW WHALE WALLETS ARE BUYING THESE FIVE ALTCOINS ON ETHEREUM : "ENS" "UNI" "AAVE" "LDO" "LINK"
Wallets that recently turned into large investors, also identified as “fresh whale wallets” by on-chain tracker Lookonchain are accumulating Ethereum-based altcoins. The crypto tracker observed whale wallets created in the past week withdrew several altcoins from the centralized exchange Binance.
Whales are buying these five altcoins
Lookonchain noted fresh whale activity and identified that whale wallets created in the past week have withdrawn Ethereum Name Service (ENS), Uniswap (UNI), AAVE, Lido (LDO), and Chainlink (LINK).
The whale wallets created between 4 days and hours ago have withdrawn 82,040 ENS tokens worth $1.98 million, 214,465 UNI tokens worth $1.97 million, 39,762 AAVE tokens worth $3.97 million, 23,89,987 LDO tokens worth $5.54 million and 65,541 LINK tokens worth $1.13 million.
Crypto analyst Dan Gamberdello commented on the Ethereum ETF approval and noted that the approval is bullish for altcoins. Gamberdello interprets the Securities and Exchange Commission’s approval of the Ether ETF as Ethereum being considered a “commodity.”
Whales are likely approving these altcoins in response to the optimism from Ethereum ETF approval.
Analyst behind the X handle @CryptoYoddha notes that altcoins are getting ready to “show great pumps,” in the coming weeks. Yoddha believes Ethereum looks stronger and Bitcoin is losing its dominance, this setup is likely conducive for altcoin gains.
Wallets that recently turned into large investors, also identified as “fresh whale wallets” by on-chain tracker Lookonchain are accumulating Ethereum-based altcoins. The crypto tracker observed whale wallets created in the past week withdrew several altcoins from the centralized exchange Binance.
Whales are buying these five altcoins
Lookonchain noted fresh whale activity and identified that whale wallets created in the past week have withdrawn Ethereum Name Service (ENS), Uniswap (UNI), AAVE, Lido (LDO), and Chainlink (LINK).
The whale wallets created between 4 days and hours ago have withdrawn 82,040 ENS tokens worth $1.98 million, 214,465 UNI tokens worth $1.97 million, 39,762 AAVE tokens worth $3.97 million, 23,89,987 LDO tokens worth $5.54 million and 65,541 LINK tokens worth $1.13 million.
Crypto analyst Dan Gamberdello commented on the Ethereum ETF approval and noted that the approval is bullish for altcoins. Gamberdello interprets the Securities and Exchange Commission’s approval of the Ether ETF as Ethereum being considered a “commodity.”
Whales are likely approving these altcoins in response to the optimism from Ethereum ETF approval.
Analyst behind the X handle @CryptoYoddha notes that altcoins are getting ready to “show great pumps,” in the coming weeks. Yoddha believes Ethereum looks stronger and Bitcoin is losing its dominance, this setup is likely conducive for altcoin gains.
$UNI #UNI
Uniswap (UNI) is the governance token of the decentralized exchange platform. The project received a Wells Notice in April 2024 and responded to it in May. Despite the Securities and Exchange Commission’s move, the DeFi project is moving on with its on-chain vote to lay the groundwork for automating fee collection and distribution.
Voting commences on May 31, per an official post in the Uniswap governance forum.
UNI price added 5% to its value on Saturday and sustained weekly gains of 43.27% on Binance.
Uniswap (UNI) is the governance token of the decentralized exchange platform. The project received a Wells Notice in April 2024 and responded to it in May. Despite the Securities and Exchange Commission’s move, the DeFi project is moving on with its on-chain vote to lay the groundwork for automating fee collection and distribution.
Voting commences on May 31, per an official post in the Uniswap governance forum.
UNI price added 5% to its value on Saturday and sustained weekly gains of 43.27% on Binance.
Starknet (STRK), an Ethereum Layer 2 scaling solution has seen a surge in exchange deposits. The hedge fund manager Three Arrows Capital was liquidated by a British Virgin Islands court after prices plunged and the entity was unable to repay creditors.
Three Arrows Capital’s liquidator Teneo deposited 2.18 million STRK tokens to centralized exchange Binace in the past three days.
STRK price extends gains despite rising exchange deposits
STRK token’s largest non-team holder wallet is Three Arrows Capital liquidator Teneo. Teneo deposited 2.18 million STRK tokens worth approximately $2.63 million to Binance this week. The liquidator still holds 130 million STRK, worth approximately $157 million, in its wallet.
Crypto on-chain intelligence tracker Spotonchain identified the move and shared details of the on-chain transaction in a recent tweet on X.
STRK
STRK deposits by Teneo
Typically token deposits to centralized exchanges push asset prices lower as they contribute to selling pressure on the cryptocurrency. However, in the case of STRK, the token sustained nearly 10% gains from the week and rallied over 3% on Saturday, on Binance.
Teneo could deposit more STRK tokens to exchanges in the coming weeks as the liquidator controls $157 million in STRK.
Data from crypto intelligence tracker Santiment shows that STRK’s social dominance has waned since the beginning of May. Social dominance metric scores the asset on its mentions across social media platforms like X, and identifies the dominance of the token in crypto-related discussions.
STRK
Social dominance of STRK
Another catalyst likely driving the STRK price rally is Ethereum co-founder Vitalik Buterin’s unlock and claim of 845,205 STRK tokens worth $1.07 million on Friday.
Vitalik Buterin
Vitalik Buterin claims STRK
At the time of writing, STRK price is $1.246 on Binance. The token ranked in the top 15 most searched assets on Binance on Friday, per data from CryptoDiffer.
Three Arrows Capital’s liquidator Teneo deposited 2.18 million STRK tokens to centralized exchange Binace in the past three days.
STRK price extends gains despite rising exchange deposits
STRK token’s largest non-team holder wallet is Three Arrows Capital liquidator Teneo. Teneo deposited 2.18 million STRK tokens worth approximately $2.63 million to Binance this week. The liquidator still holds 130 million STRK, worth approximately $157 million, in its wallet.
Crypto on-chain intelligence tracker Spotonchain identified the move and shared details of the on-chain transaction in a recent tweet on X.
STRK
STRK deposits by Teneo
Typically token deposits to centralized exchanges push asset prices lower as they contribute to selling pressure on the cryptocurrency. However, in the case of STRK, the token sustained nearly 10% gains from the week and rallied over 3% on Saturday, on Binance.
Teneo could deposit more STRK tokens to exchanges in the coming weeks as the liquidator controls $157 million in STRK.
Data from crypto intelligence tracker Santiment shows that STRK’s social dominance has waned since the beginning of May. Social dominance metric scores the asset on its mentions across social media platforms like X, and identifies the dominance of the token in crypto-related discussions.
STRK
Social dominance of STRK
Another catalyst likely driving the STRK price rally is Ethereum co-founder Vitalik Buterin’s unlock and claim of 845,205 STRK tokens worth $1.07 million on Friday.
Vitalik Buterin
Vitalik Buterin claims STRK
At the time of writing, STRK price is $1.246 on Binance. The token ranked in the top 15 most searched assets on Binance on Friday, per data from CryptoDiffer.
