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🚨Ethereum’s Epic Moonshot: Buckle Up for a $4.1K Odyssey🚀 Ethereum’s Potential: A Rally in the Making? As the cryptocurrency market ebbs and flows with the tides of global finance, Ethereum emerges as a beacon of potential amidst the uncertainty. Recent analyses suggest that Ethereum is not just idly waiting for change but is actively showing signs of an impending rally. Market analysts are closely monitoring a set of indicators that could signal a breakout, setting the stage for a significant upswing in value. The Path to $4.1K: Indicators and Predictions The journey to a $4.1K Ethereum is paved with keen observation and strategic anticipation. Analysts are watching for a confluence of technical and fundamental indicators that could confirm the rally’s onset. Among these indicators, transaction volume, active addresses, and network utilization rates are key metrics providing insights into Ethereum’s momentum. Economic Data: The Catalyst for Movement While the crypto community watches the charts with bated breath, it’s the broader economic data that could serve as the catalyst for Ethereum’s movement. Investors are advised to keep a close eye on upcoming economic reports, as they could provide the impetus for Ethereum to reach, or even surpass, the anticipated $4.1K threshold. A Call to Action for Crypto Enthusiasts For those looking to capitalize on Ethereum’s potential, now is the time to stay informed and be prepared to act. The market waits for no one, and the signs are aligning for what could be a historic rally. Whether you’re a seasoned investor or new to the crypto scene, the message is clear: Ethereum’s potential is knocking – will you answer?$ETH
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#Memecoins🤑🤑 Are Gaining Increasing Popularity in the Cryptocurrency Market According to a new research report from cryptocurrency exchange KuCoin, investors are increasingly turning their attention to meme tokens with relatively low market capitalizations and perceived as relatively obscure. This shift stems from investors' disappointment with cryptocurrency projects having high fully diluted valuations (FDVs) and low initial circulating market capitalizations. KuCoin's report notes that some investors are steering clear of tokens with high FDVs as they offer limited opportunities for substantial gains among retail investors. To illustrate this trend, the report highlights the case of Notcoin, a meme token that launched with 100% of its token supply in circulation from the outset. "Notcoin was launched with 100% of its tokens in circulation from the beginning. After some time in the market, by the end of May, both the price and trading volume of NOT had increased significantly. This also drove broader market attention towards its Tap To Earn and Minigame products," the report notes. Furthermore, the report also affirms that tap-to-earn projects have "significantly higher overall engagement data" due to lower barriers to entry compared to other gamefi or move-to-earn projects. The TON technology is said to provide robust support for Notcoin, ensuring smooth gameplay, while integration with Telegram is also credited with significantly reducing the company's customer acquisition costs.$NOT
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“#Bitcoin Faces Downward Pressure, Could Test Key Support Levels”☠️ Bitcoin continues its downward trend after failing to surpass the critical resistance threshold at 67,000 USD. The leading cryptocurrency has declined from the resistance level of 66,850 USD, and is now at risk of falling below the support level of 65,500 USD. In recent trading sessions, Bitcoin was unable to maintain its price above 67,000 USD and has started to decline. It is currently trading below 66,800 USD and under the 100-hour simple moving average. A breakdown occurred below the uptrend line, connecting with the support at 66,500 USD on the hourly chart of the BTC/USD pair. If the downward trend continues, Bitcoin could trade below the support level of 65,500 USD. The price has fallen below the 23.6% Fibonacci retracement level of the upward move from the low of 65,075 USD to the high of 66,868 USD. There is a possibility that the price will test the 50% Fibonacci retracement level of the same upward move. On the upside, Bitcoin is encountering resistance near 66,500 USD and the 100-hour simple moving average. The next resistance level could be 66,850 USD, followed by 67,000 USD. A clear move above the 67,000 USD level could initiate a new increase, pushing the price higher. In case of an increase, Bitcoin might test the resistance at 66,000 USD. Any further gains could lead Bitcoin towards the resistance level of 68,500 USD in the near future. However, if Bitcoin cannot overcome the resistance at 66,500 USD, it may continue to move downward. Immediate support on the downside is near 66,000 USD. The first major support level is 65,750 USD, and the next support is forming near 65,500 USD. Any further losses could push Bitcoin towards the support zone of 65,000 USD in the upcoming period.$BTC source: newsbtc
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Bloomberg ETF Analyst Eric Balchunas Predicts Spot Ether ETFs Could Trade Before 2/7 Optimized Content: Spot Ethereum exchange-traded funds (ETFs) holding actual cryptocurrencies are predicted to officially start trading in the United States before July 2, 2024, according to Eric Balchunas - ETF analyst at Bloomberg. In a post on the X platform (formerly Twitter) on June 15, Balchunas stated this is his "best guess" for the launch timing of spot Ether ETFs, based on feedback from the U.S. Securities and Exchange Commission (SEC). According to Balchunas, SEC staff provided comments on the ETF registration filings that were "pretty lightweight, nothing major" and asked for resubmissions within the week. This increases the likelihood that the SEC will declare the filings effective next week, allowing the ETFs to trade before the weekend break. Previously, on May 23, the SEC approved 8 applications to list spot Ether ETFs on U.S. exchanges. However, the funds still need to receive approval for their mandatory S-1 registration statements before they can begin trading. The anticipated approval is expected to bring numerous benefits to the cryptocurrency market, enhancing liquidity and institutional investor participation. However, some experts have also noted that the impact of Ether ETFs may not be as significant as the Bitcoin ETF launch in 2023.$ETH
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Former Binance CEO Changpeng Zhao Becomes BNB Billionaire With $39 Billion Asset Holding Changpeng Zhao (CZ), the founder and former CEO of cryptocurrency exchange Binance, has become a BNB billionaire due to the large amount of tokens he holds. A latest report reveals that CZ owns 64% of the circulating supply of BNB, the native token of Binance. Massive Value of BNB Asset Holding With BNB's current price at $593, CZ's BNB holdings are worth around $39 billion. This figure makes him one of the wealthiest individuals in the cryptocurrency technology industry. BNB - Binance's Utility Token Centerpiece BNB is the central utility token of Binance, used for paying trading fees and rewards on the platform. The token has a maximum supply of 200 million, with over 153 million BNB currently circulating. BNB's current market capitalization exceeds $91 billion. $61 Billion Net Worth and Lawsuit with U.S. Government According to Forbes' estimates, Changpeng Zhao's net worth stands at $61 billion, making him the 24th richest person in the world. However, in 2023, the U.S. Department of Justice indicted Zhao and Binance for alleged violations of sanctions and money laundering laws. Settlement Deal and Prison Sentence As part of the settlement deal, Zhao pleaded guilty and agreed to step down from his leadership role at Binance. The deal also included a $50 million fine for Zhao and a $4.3 billion fine for Binance. Zhao was also sentenced to four months in prison in relation to the case. Despite this, with his massive BNB asset holding, Changpeng Zhao remains one of the wealthiest individuals in the global cryptocurrency technology industry.$BNB
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Ultime notizie
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