According to PANews, Galaxy Digital has reported a significant turnaround in its financial performance, with a net income of $296 million in 2023, compared to a loss of $1 billion in the previous year. The company attributes this positive change to the substantial fluctuations in digital asset prices, increased market volatility, and growth in trading volumes since the fourth quarter of 2023.

Galaxy Digital's improved financial results highlight the impact of market conditions on the company's operations. The firm's ability to capitalize on the changing landscape of digital assets and adapt to the evolving market dynamics has contributed to its success in 2023. This turnaround demonstrates the potential for growth and profitability in the digital asset industry, as companies like Galaxy Digital continue to navigate the complex and rapidly changing market environment.

According to PANews, Galaxy has disclosed a net position of $27 million in Celestia (TIA) and $41 million in locked tokens in its year-end financial report. The information was reported by The Block Pro.

The disclosure of the Celestia net position and locked tokens highlights the company's investments in the cryptocurrency space. The year-end financial report provides insight into the company's financial performance and its involvement in the digital asset market.

As the cryptocurrency market continues to grow and evolve, companies like Galaxy are increasingly investing in digital assets and blockchain technology. The disclosure of the Celestia net position and locked tokens is a testament to the company's commitment to the industry and its belief in the potential of digital assets.

According to CoinDesk, Fidelity aims to give traders of its potential Fidelity Ethereum Fund the ability to stake some of the assets. The asset manager filed to launch an ethereum exchange-traded fund (ETF) in November, with other potential issuers including BlackRock, Ark Invest, and Grayscale. In an amendment with the U.S. Securities and Exchange Commission (SEC), Fidelity wrote that it may stake a portion of the Fund's assets through one or more trusted staking providers, which may include an affiliate of the Sponsor.

Following the news, Lido, the staking protocol supported on the Ethereum network, saw a 9% increase in price to $2.64 before falling back slightly. However, experts currently see a slim chance that such an ETF will be approved by the SEC before the next deadline of May 23.

According to Foresight News, Injective has announced a partnership with AltLayer to create a re-staking security framework for inEVM. The various aspects of inEVM have been customized to meet the needs of complex applications, including a highly scalable execution layer and a modular DA layer.

Disclaimer: This is not investment advice. The information provided is for general purposes only. No information, materials, services and other content provided on this page constitute a solicitation, recommendation, endorsement, or any financial, investment, or other advice. Seek independent professional consultation in the form of legal, financial, and fiscal advice before making any investment decision.

Lido DAO Token is down -3.13% today against the US Dollar

LDO/BTC decreased by -2.17% today

Lido DAO Token is currently trading 25.51% below our prediction on Mar 21, 2024

Lido DAO Token dropped -12.11% in the last month and is up 12.96% since 1 year ago

Lido DAO Token price $ 2.83 Lido DAO Token prediction $ 3.80 (29.82%) Sentiment Bearish Fear & Greed index 81 (Extreme Greed) Key support levels $ 2.79, $ 2.62, $ 2.41 Key resistance levels $ 3.16, $ 3.37, $ 3.53

LDO price is expected to rise by 29.82% in the next 5 days according to our Lido DAO Token price prediction

Lido DAO Token price today is trading at $ 2.83 after losing -3.13% in the last 24 hours. The coin underperformed the cryptocurrency market, as the total crypto market cap decreased by -4.71% in the same time period. LDO performed poorly against BTC today and recorded a -2.17% loss against the world’s largest cryptocurrency.

According to our Lido DAO Token price prediction, LDO is expected to reach a price of $ 3.80 by Mar 21, 2024. This would represent a 29.82% price increase for LDO in the next 5 days.

LDO Price Prediction Chart

Buy/Sell Lido DAO Token

What has been going on with Lido DAO Token in the last 30 days

Lido DAO Token has been displaying a negative trend recently, as the coin lost -12.11% in the last 30-days. The medium-term trend for Lido DAO Token has been bullish, with LDO increasing by 34.02% in the last 3 months. The long-term picture for Lido DAO Token has been positive, as LDO is currently displaying a 12.96% 1-year price change. On this day last year, LDO was trading at $ 2.51.

Lido DAO Token reached its all-time high price on Aug 20, 2021, when the price of LDO peaked at $ 7.28. The current LDO cycle high is $ 4.00, while the cycle low is at $ 0.404540. LDO has been displaying low volatility recently – the 1-month volatility of the coin is at 4.13. Lido DAO Token recorded 12 green days in the last 30 days.

Lido DAO Token technical analysis for today - Mar 16, 2024

The sentiment in the Lido DAO Token markets is currently Bearish, and the Fear & Greed index is reading Extreme Greed. The most important support levels to watch are $ 2.79, $ 2.62 and $ 2.41, while $ 3.16, $ 3.37 and $ 3.53 are the key resistance levels.

Bearish sentiment for Lido DAO Token

11 indicators are currently signaling a bullish prediction for Lido DAO Token, while 17 indicators are showing a bearish forecast. With 61% of indicators favoring a negative prediction. This results in an overall Bearish sentiment for Lido DAO Token.

Crypto market is currently experiencing Extreme Greed

Currently, the Fear & Greed index is at 81 (Extreme Greed), which signals that investors have a positive outlook on the market. The Fear & Greed index is a measure of sentiment among cryptocurrency investors. A “Greed” reading suggests that investors are currently optimistic about the cryptocurrency market, but can also be an indication that the market is overvalued. A “Fear” reading, on the other hand, signals that investors are currently hesitant about the cryptocurrency market, which potentially represents a buying opportunity.

Lido DAO Token moving averages & oscillators

Let’s take a look at what some of the most important technical indicators are signaling. We’ll be going through key moving averages and oscillators that will allow us to get a better idea of how Lido DAO Token is positioned in the market right now.

Period Daily Simple Daily Exponential Weekly Simple Weekly Exponential MA3 $ 2.93 (SELL) $ 3.26 (SELL) - - MA5 $ 3.08 (SELL) $ 3.18 (SELL) - - MA10 $ 3.23 (SELL) $ 3.01 (SELL) - - MA21 $ 3.32 (SELL) $ 2.77 (BUY) $ 4.91 (SELL) $ 2.61 (BUY) MA50 $ 3.12 (SELL) $ 2.45 (BUY) $ 0.642591 (BUY) $ 2.25 (BUY) MA100 $ 2.94 (SELL) $ 2.19 (BUY) $ 0.057313 (BUY) $ 1.58 (BUY) MA200 $ 2.52 (BUY) $ 2.05 (BUY) - -

Period Value Action RSI (14) 39.07 NEUTRAL Stoch RSI (14) 14.77 BUY Stochastic Fast (14) 33.59 NEUTRAL Commodity Channel Index (20) -66.67 NEUTRAL Average Directional Index (14) 10.84 NEUTRAL Awesome Oscillator (5, 34) 0.05 NEUTRAL Momentum (10) -0.09 SELL MACD (12, 26) -0.02 NEUTRAL Williams Percent Range (14) -66.41 NEUTRAL Ultimate Oscillator (7, 14, 28) 46.40 NEUTRAL VWMA (10) 3.33 SELL Hull Moving Average (9) 3.34 SELL Ichimoku Cloud B/L (9, 26, 52, 26) 3.30 NEUTRAL

The Relative Strength Index (RSI 14) is a widely used indicator that helps inform investors whether an asset is currently overbought or oversold. The RSI 14 for Lido DAO Token is at 39.07, suggesting that LDO is currently neutral.

The 50-day Simple Moving Average (SMA 50) takes into account the closing price of Lido DAO Token over the last 50 days. Currently, Lido DAO Token is trading below the SMA 50 trendline, which is a bearish signal.

Meanwhile, the 200-day Simple Moving Average (SMA 200) is a long-term trendline that’s calculated by taking an average of the LDO closing price for the last 200 days. LDO is now trading below the SMA 200, signaling that the market is currently bearish.

The bottom line about this Lido DAO Token prediction

After considering the above factors, we can conclude that the current forecast for Lido DAO Token price prediction is Bearish. LDO would have to increase by 29.82% to hit our $ 3.80 target within the next five days. Moving forward, it will be important to monitor the LDO market sentiment, the key support and resistance levels, and other metrics. However, we have to keep in mind that the cryptocurrency markets are unpredictable, and even the largest crypto assets display a lot of price volatility. For long-term Lido DAO Token price predictions click here.

Disclaimer: This is not investment advice. The information provided is for general purposes only. No information, materials, services and other content provided on this page constitute a solicitation, recommendation, endorsement, or any financial, investment, or other advice. Seek independent professional consultation in the form of legal, financial, and fiscal advice before making any investment decision.

According to BlockBeats, on February 27, USDT interest rates for current financial products on multiple CEX platforms experienced a significant increase just before the market rose. Among them, Binance's annualized interest rate is currently at 27.69%, Bybit's annualized interest rate is at 21.43%, and OKX's annualized interest rate once soared to 60% but has now fallen back to 13.06%.

This surge in interest rates indicates a growing demand for USDT on these platforms, which could be attributed to the recent market fluctuations. As investors seek stable assets amidst market volatility, USDT has become an attractive option due to its peg to the US dollar. The increased demand for USDT has led to higher interest rates on these platforms, making it more appealing for investors to hold and earn interest on their USDT holdings.

It is essential for investors to monitor these interest rates and market trends to make informed decisions about their investments in USDT and other cryptocurrencies. As the market continues to evolve, it is crucial to stay updated on the latest developments and trends to maximize potential returns and minimize risks.

Disclaimer: This is not investment advice. The information provided is for general purposes only. No information, materials, services and other content provided on this page constitute a solicitation, recommendation, endorsement, or any financial, investment, or other advice. Seek independent professional consultation in the form of legal, financial, and fiscal advice before making any investment decision.

Ethereum Classic is up 4.51% today against the US Dollar

ETC/BTC increased by 3.82% today

Ethereum Classic is currently trading 7.35% below our prediction on Mar 01, 2024

Ethereum Classic gained 13.97% in the last month and is up 28.64% since 1 year ago

Ethereum Classic price $ 27.04 Ethereum Classic prediction $ 29.19 (11.46%) Sentiment Bullish Fear & Greed index 74 (Greed) Key support levels $ 25.48, $ 24.82, $ 24.46 Key resistance levels $ 26.51, $ 26.87, $ 27.53

ETC price is expected to rise by 11.46% in the next 5 days according to our Ethereum Classic price prediction

Ethereum Classic price today is trading at $ 27.04 after gaining 4.51% in the last 24 hours. The coin outperformed the cryptocurrency market, as the total crypto market cap increased by 4.70% in the same time period. ETC performed well against BTC today and recorded a 3.82% gain against the world’s largest cryptocurrency.

According to our Ethereum Classic price prediction, ETC is expected to reach a price of $ 29.19 by Mar 01, 2024. This would represent a 11.46% price increase for ETC in the next 5 days.

ETC Price Prediction Chart

Buy/Sell Ethereum Classic

What has been going on with Ethereum Classic in the last 30 days

Ethereum Classic has been displaying a positive trend recently, as the coin gained 13.97% in the last 30-days. The medium-term trend for Ethereum Classic has been bullish, with ETC increasing by 46.20% in the last 3 months. The long-term picture for Ethereum Classic has been positive, as ETC is currently displaying a 28.64% 1-year price change. On this day last year, ETC was trading at $ 21.02.

Ethereum Classic reached its all-time high price on May 06, 2021, when the price of ETC peaked at $ 165.75. The current ETC cycle high is $ 45.11, while the cycle low is at $ 12.63. ETC has been displaying low volatility recently – the 1-month volatility of the coin is at 4.25. Ethereum Classic recorded 18 green days in the last 30 days.

Ethereum Classic technical analysis for today - Feb 25, 2024

The sentiment in the Ethereum Classic markets is currently Bullish, and the Fear & Greed index is reading Greed. The most important support levels to watch are $ 25.48, $ 24.82 and $ 24.46, while $ 26.51, $ 26.87 and $ 27.53 are the key resistance levels.

Bullish sentiment for Ethereum Classic

28 indicators are currently signaling a bullish prediction for Ethereum Classic, while 3 indicators are showing a bearish forecast. With 90% of indicators favoring a positive prediction. This results in an overall Bullish sentiment for Ethereum Classic.

Crypto market is currently experiencing Greed

Currently, the Fear & Greed index is at 74 (Greed), which signals that investors have a positive outlook on the market. The Fear & Greed index is a measure of sentiment among cryptocurrency investors. A “Greed” reading suggests that investors are currently optimistic about the cryptocurrency market, but can also be an indication that the market is overvalued. A “Fear” reading, on the other hand, signals that investors are currently hesitant about the cryptocurrency market, which potentially represents a buying opportunity.

Ethereum Classic moving averages & oscillators

Let’s take a look at what some of the most important technical indicators are signaling. We’ll be going through key moving averages and oscillators that will allow us to get a better idea of how Ethereum Classic is positioned in the market right now.

Period Daily Simple Daily Exponential Weekly Simple Weekly Exponential MA3 $ 25.28 (BUY) $ 25.60 (BUY) - - MA5 $ 25.03 (BUY) $ 24.96 (BUY) - - MA10 $ 25.48 (BUY) $ 23.72 (BUY) - - MA21 $ 25.66 (BUY) $ 22.16 (BUY) $ 36.43 (SELL) $ 21.01 (BUY) MA50 $ 24.90 (BUY) $ 20.22 (BUY) $ 19.04 (BUY) $ 20.46 (BUY) MA100 $ 22.63 (BUY) $ 18.85 (BUY) $ 5.73 (BUY) $ 22.16 (BUY) MA200 $ 20.02 (BUY) $ 18.46 (BUY) $ 20.62 (BUY) $ 20.81 (BUY)

Period Value Action RSI (14) 53.01 NEUTRAL Stoch RSI (14) 0.00 BUY Stochastic Fast (14) 11.31 BUY Commodity Channel Index (20) -66.67 NEUTRAL Average Directional Index (14) 22.03 NEUTRAL Awesome Oscillator (5, 34) 1.12 NEUTRAL Momentum (10) -0.77 NEUTRAL MACD (12, 26) -0.16 NEUTRAL Williams Percent Range (14) -88.69 BUY Ultimate Oscillator (7, 14, 28) 56.08 NEUTRAL VWMA (10) 26.57 SELL Hull Moving Average (9) 26.56 SELL Ichimoku Cloud B/L (9, 26, 52, 26) 25.46 NEUTRAL

The Relative Strength Index (RSI 14) is a widely used indicator that helps inform investors whether an asset is currently overbought or oversold. The RSI 14 for Ethereum Classic is at 53.01, suggesting that ETC is currently neutral.

The 50-day Simple Moving Average (SMA 50) takes into account the closing price of Ethereum Classic over the last 50 days. Currently, Ethereum Classic is trading below the SMA 50 trendline, which is a bearish signal.

Meanwhile, the 200-day Simple Moving Average (SMA 200) is a long-term trendline that’s calculated by taking an average of the ETC closing price for the last 200 days. ETC is now trading below the SMA 200, signaling that the market is currently bearish.

The bottom line about this Ethereum Classic prediction

After considering the above factors, we can conclude that the current forecast for Ethereum Classic price prediction is Bullish. ETC would have to increase by 11.46% to hit our $ 29.19 target within the next five days. Moving forward, it will be important to monitor the ETC market sentiment, the key support and resistance levels, and other metrics. However, we have to keep in mind that the cryptocurrency markets are unpredictable, and even the largest crypto assets display a lot of price volatility. For long-term Ethereum Classic price predictions click here.

Disclaimer: This is not investment advice. The information provided is for general purposes only. No information, materials, services and other content provided on this page constitute a solicitation, recommendation, endorsement, or any financial, investment, or other advice. Seek independent professional consultation in the form of legal, financial, and fiscal advice before making any investment decision.

The United States Securities and Exchange Commission (SEC) has pushed its decision on whether to approve or disapprove of a spot Ether (ETH) exchange-traded fund from Grayscale Investments, opening the application to public comments.

In a Jan. 25 notice, the SEC said it would institute proceedings to determine whether to approve or disapprove a proposed rule change that would allow NYSE Arca to list and trade the Grayscale Ethereum Trust shares. Opening the proposed investment vehicle to public comment will push the deadline for a decision by an additional 35 days upon publication in the Federal Register.

“Interested persons are invited to submit written data, views, and arguments regarding whether the proposed rule change should be approved or disapproved,” said the SEC.

Related: BlackRock SEC approval record at 576-1 post-BTC ETF nod — Is Ether ETF next?

The SEC notice came 15 days after the commission approved listings for shares of spot Bitcoin (BTC) ETFs on U.S. exchanges for the first time, including an offering from the Grayscale Bitcoin Trust. Since its launch, GBTC outflows have been among the highest of the 11 approved spot BTC ETFs, reaching roughly $4.4 billion over nine trading days.

Grayscale first filed with the SEC to convert shares of its Grayscale Ethereum Trust into a spot Ether ETF in October, adding its name to the list of companies awaiting a decision from the regulator. On Jan. 25, the SEC pushed a decision on BlackRock’s spot Ethereum ETF to March, with many experts speculating the commission could take the maximum allowable 240 days to decide.

Magazine: Lawmakers’ fear and doubt drives proposed crypto regulations in US

Crypto businesses are looking forward to less turbulent times after a long crypto winter, with institutional demand and growing Bitcoin adoption helping to drive innovation in the crypto space. Trends to look for this year include scalability and compliance solutions, industry participants told Cointelegraph. 

Transaction speeds and costs are challenges for both the Ethereum and the Bitcoin networks. Not by chance, rollup projects are expected to be in high demand in 2024, said Axelar’s CEO Sergey Gorbunov. He believes rollup development kits are "something to watch in 2024."

“We’re beginning to see abstraction for the Web3 developer that is similar to what consumer-facing developers in SaaS enjoy,” explained Gorbunov about the growing offer of tools for developers working on blockchain scaling solutions.

Rollups are a type of layer-2 blockchain designed to improve scalability. They combine multiple transactions into a single batch outside the main blockchain (off-chain). This significantly reduces the amount of data that needs to be processed and stored on the main chain (on-chain), resulting in faster and cheaper transactions.

According to Gorbunov, projects currently “moving to scale across this landscape include DeFi innovators like Frax and Lido – and leading DEXs like dYdX, PancakeSwap and Uniswap.”

Decentralized infrastructure is another area expected to grow over the next few months. “Decentralizing frontends and backends is a critical issue, including when it comes to decentralized web-hosting and cloud-storage systems,” said Frank Hu, chief operating officer of ByteTrade Lab.

Behind these trends is the increasing involvement of institutional investors and traditional corporations within the crypto space. According to a November survey by Coinbase, 64% of current institutional crypto investors expected to increase their allocations in the next three years, and 45% of investors without crypto allocations planned to start investing within the same period.

Institutional investors seek exposure to crypto through a range of products. Source: Coinbase 2023 Institutional Survey

Sandra Carter, chief operating officer of Unstoppable Domains, sees projects offering interoperability between Web2 and Web3 as a potential growth area. “There are so many people, brands, and organizations in Web2 that are yet to move over to Web3 or even know about it. They need to take those first steps, and [crypto] businesses will make that easier and more accessible because they know that there is so much value locked up in Web2 that Web3 can unleash,” she noted.

The approval of spot Bitcoin exchange-traded funds (ETFs) will also serve as a business driver in 2024. According to Mauricio di Bartolomeo from lending protocol Ledn, variations of Bitcoin ETF, such as leveraged and short ETFs, are expected to flood the market over the next few months. The hype surrounding the cryptocurrency is also predicted to boost its use as collateral on crypto loans.

Furthermore, one of the crypto industry’s foundations is also being disrupted — social media platforms. “Crypto has always been driven by social media,” said the co-founder of DSCVR, Juan Bruce, who believes it is only a matter of time before decentralized social media platforms find the product-market fit that will replace the traditional ones. 

“Teams, including ours, are building social platforms that aren’t just on chain but enable crypto transactions in a social context for users and projects,” Bruce told Cointelegraph. 

Growth prospects, however, are not immune to challenges. Carter believes the regulatory landscape will still play a significant risk for crypto businesses in 2024.

“There are so many variables when it comes to regulations, and while there are victories and signs of hope [such as Ripple’s and Grayscale’s court victories], there are specific individuals who are dead-set on stopping crypto from entering the mainstream. The U.S. wants to be competitive in blockchain technology, but regulators are doing their utmost to prevent or control that as best they can.”

Magazine: MakerDAO’s plan to bring back ‘DeFi summer’ — Rune Christensen

According to Foresight News, the Cosmos ecosystem's Stride protocol will launch stDYDX liquidity tokens on the dYdX Chain. dYdX holders will receive stDYDX, allowing users to gain equity while using these tokens in DeFi protocols or exiting their positions without waiting for the 30-day unlocking period on the dYdX Chain. Additionally, stDYDX tokens are non-rebase, meaning the number of stDYDX tokens in individual wallets will not increase as users earn equity. The new stDYDX features also include a compounding mechanism.

According to Foresight News, the dYdX Foundation has announced that the dYdX community has voted in favor of a proposal to 'activate trading rewards and launch a 6-month incentive program', with a final support rate of 75.6%. Traders on the dYdX Chain can now receive up to 90% of fees paid based on the latest trading rewards formula.