The post "SEC Expected to Approve Ethereum ETFs This Summer, Chair Gensler Tells Senate Subcommittee" first appeared on 36crypto.com News.
In a recent development, the US Securities and Exchange Commission Chair, Gary Gensler, appeared before the Senate Appropriations Subcommittee on Financial Services on Thursday and cleared the air regarding the agency's timeline to approve spot Ethereum ETFs for Senator Bill Hagerty, a Republican from Tennessee. Gensler mentioned that the SEC has what it believes will approve the S-1 forms for such ETFs next summer.
Ethereum ETFs Set to Launch Following SEC Greenlight
The SEC has started making efforts toward the approval of Ethereum ETFs, especially in the recent past. It added that the agency suddenly approved listing and trading eight Ether ETFs through the rule change 19b-4 forms. The SEC asked all prospective issuers to file new S-1 forms at the end of May. ETF analyst restricted his comments to his noted progress, which includes the following: "I will be interested in seeing changes in the next batch of amended S-1s, and there can't be that much work left to do."
Several analysts in the industry speculated on Ethereum ETFs which is why Popular Bloomberg analyst James Seyffart said that Ethereum ETFs would go live this summer. "The month of 'July' was to be the month of pure speculation, but I had much more conviction in stating that ETH ETFs will launch sometime during summer, which was kind of like a given," Seyffart remarked in a post on X.
There is also positive action in the #BitcoinETF market, which is expected to enjoy a similar boost from Ethereum ETFs. With this background, Bitcoin ETFs recently experienced $100 million in inflows, with Fidelity's wise origin Bitcoin fund (FBTC) dominating the market. This increase in attention emphasizes the necessity for institutional and new retail investors to invest in cryptocurrency vehicles.
This indicates that the SEC's approval of #EthereumETFs will be a significant milestone in cryptocurrency investment. The prospects for Ethereum ETFs appear particularly promising, given recent events such as regulation change approval and the anticipated summer deployment. Gaining insights, the financial community awaits further developments and the SEC's expected steps. Still, Bitcoin ETFs are seeing large inflows, indicating that there is still a considerable interest in crypto-assets. The future developments we anticipate in the Ethereum ETF market will transform cryptocurrency investment in the following months.

Dogecoin, created in 2013 as a comic story or meme, has evolved from a light-hearted internet joke to a significant player in the cryptocurrency market. With its iconic Shiba Inu dog logo and vibrant community, Dogecoin has captured the attention of investors worldwide.
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Initially meant as a joke on the rising popularity of cryptocurrencies, Dogecoin quickly gained attention and became a real investment option. In this article, we explore Dogecoin’s journey, its basics, why people invest in it, and how it transformed from a meme into a serious digital asset.

Dogecoin: From Joke to Serious Investment
Despite its origins as a joke, Dogecoin quickly gained recognition on social media platforms like Reddit and Twitter. This attention attracted a passionate community of fans known as “Shibes.” The friendly and enthusiastic community played a crucial role in Dogecoin’s rise in popularity.

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Dogecoin soon found practical uses as a tipping platform for online content creators and for charitable causes. Its low transaction fees, fast transaction times, and welcoming community endeared Dogecoin to users. These factors led to its widespread adoption as a digital currency for microtransactions and social tipping.
Dogecoin’s Blockchain and Unique Features
Dogecoin operates on a blockchain technology similar to Bitcoin and Litecoin. It utilizes a proof-of-work (PoW) consensus mechanism to validate transactions and ensure network security. This system involves miners solving complex mathematical problems to add new blocks to the blockchain.

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One significant difference between Dogecoin and Bitcoin lies in their supply models. While Bitcoin has a fixed supply cap of 21 million coins, Dogecoin has no maximum supply limit. Instead, it follows an inflationary issuance schedule, with approximately 5 billion coins added to circulation each year. This approach aims to maintain the long-term viability and sustainability of the Dogecoin network, ensuring there are always rewards for miners and adequate liquidity for users.
The inflationary model of Dogecoin also plays a role in incentivizing miners to continue securing the network. By providing ongoing rewards, Dogecoin encourages participation in mining activities, which strengthens the overall security and reliability of its blockchain.

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Dogecoin’s Community and Cultural Impact
Dogecoin has cultivated a vibrant and enthusiastic community known for its generosity, activism, and strong sense of camaraderie. Supporters of Dogecoin regularly organize fundraisers, charity events, and social initiatives aimed at promoting positive change. This community-driven approach has contributed significantly to Dogecoin’s growth and adoption.
The association of Dogecoin with internet meme culture has played a crucial role in its mainstream appeal, particularly among younger generations. Its whimsical and humorous branding sets Dogecoin apart from other cryptocurrencies, making it more accessible and relatable to a broader audience.

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Despite its volatile price and speculative nature, Dogecoin has attracted investors seeking short-term profits. Its inflationary supply model and perceived lack of intrinsic value have led to significant price fluctuations driven by market speculation, social media trends, and celebrity endorsements.
Dogecoin’s low transaction fees and fast transaction times make it well-suited for microtransactions and online payments. As more merchants and businesses accept Dogecoin as a form of payment, its utility and adoption as a medium of exchange are expected to grow, potentially enhancing its long-term value proposition.
Considerations for Investing in Dogecoin
Volatility and Speculative Nature: Dogecoin is highly volatile and speculative, which means investors can experience significant gains or losses in short periods. Before investing in Dogecoin, potential investors should carefully evaluate their risk tolerance and investment objectives to determine if it aligns with their financial goals.

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Lack of Fundamental Metrics: Unlike traditional investments such as stocks or bonds, Dogecoin lacks fundamental metrics like revenue, profits, or tangible assets that can be used to assess its intrinsic value. Investors should be mindful of Dogecoin’s speculative nature and understand that its price movements may not always be driven by traditional market fundamentals.
Regulatory Uncertainty: The cryptocurrency market, including Dogecoin, is subject to regulatory scrutiny and potential government interventions. Changes in regulations could affect the legal status, adoption, and value of Dogecoin. It’s important for investors to stay informed about regulatory developments and consider the potential risks and implications for their investments in Dogecoin.

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Community Dynamics: Dogecoin’s price movements and adoption are heavily influenced by its community-driven nature and social dynamics. Monitoring community sentiment, social media trends, and overall market sentiment can provide insights into potential impacts on Dogecoin’s price and investment outlook. Investors should factor in these dynamics when making investment decisions related to Dogecoin.
In Summary
Dogecoin’s evolution from a meme to a significant digital asset highlights the influential role of memes and internet culture in shaping the cryptocurrency market. What began as a lighthearted joke has transformed into a major digital currency with a dedicated global following and practical applications. This journey underscores the unpredictable nature of the cryptocurrency market and its dynamic growth.

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Investors assessing Dogecoin’s potential should consider its fundamentals, community dynamics, and market trends. Whether viewed as a speculative investment, a digital collectible, or a social phenomenon, Dogecoin continues to captivate people worldwide, offering a unique intersection of technology, finance, and internet culture.

Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.

#Doge #Dogecoin #EthereumETFs #ETHETFS #notcoin $DOGE $BTC $SOL

Shiba Inu (SHIB) price chart indicates bullish signs for a potential 50%-60% spike, while Arkham (ARKM), an AI-centric project, also shows bullish trends. Altcoins are signaling bullish movements amid Bitcoin’s sideways action.
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As the crypto market experiences a sideways bullish rally, many altcoins are showing promising patterns that could lead to significant price increases. Analysts have various opinions on which altcoins might surge first, but one prediction stands out for Shiba Inu (SHIB).

Bullish Patterns Point to Potential Surges for SHIB and ARKM
A prominent trader has highlighted the price action of Shiba Inu (SHIB), noting a bullish pennant formation on the daily timeframe. This pattern suggests a possible significant upward movement for the token, often referred to as a meme coin.

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According to the analyst, SHIB could see a price increase of 50%-60% if this pattern plays out as expected.
https://x.com/breakout_expert/status/1792053886054015274?ref_src=twsrc%5Etfw
In addition to SHIB, the analyst also focuses on Arkham (ARKM), a crypto token known for its use of AI in analyzing blockchain and on-chain data. Arkham offers both an analytics platform and an intel exchange, making it a noteworthy project in the crypto space. The analyst’s observations on ARKM indicate potential bullish movements for this token as well.

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https://x.com/breakout_expert/status/1792505577299743076?ref_src=twsrc%5Etfw
Analyst Predicts Bullish Surge for ARKM Amid Steady Price Rise
According to the chart shared by the analyst, Arkham (ARKM) has been experiencing a steady price increase over the past few months. Observing this consistent rise, the analyst provides his insights on the future movement of this AI-based asset.

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He describes the ARKM price chart as truly impressive, noting that the asset is once again responding to a rising trend. The analyst predicts that if this upward movement continues, ARKM could reach $3.25. Currently, ARKM is priced at $2.45 according to CoinMarketCap. It will be intriguing to see how high the price can climb during this bull cycle.

Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.

#SHIB #ShibaInu #Memecoins #EthereumETFs #ETHETFS $SHIB $BTC $ETH

After surpassing the $66,000 resistance level, the price of Bitcoin has entered a period of consolidation. Currently, Bitcoin is aiming for a further increase above the $67,200 resistance level, indicating potential for the next upward move.
Bitcoin is aiming for a notable rise above the $67,200 resistance zone, trading above $65,500 and the 100 hourly Simple Moving Average. On the hourly chart of the BTC/USD pair from Kraken, a bullish trend line is forming with support at $65,900. The pair might experience bullish momentum upon surpassing the $67,200 resistance level.

Bitcoin Price Analysis: Potential Upside Targets
Fresh Increase Above Key Resistance Levels: Bitcoin’s price has initiated a new uptrend, surpassing crucial resistance levels at $65,500 and $66,000. BTC even surged past $67,000, reaching a high of $67,200 before consolidating its gains.
Stability Above Support Levels: Although there was a minor decline below $66,500, Bitcoin remained stable above key support levels. The price held above the 23.6% Fibonacci retracement level of the recent upward move from the $64,280 swing low to the $67,200 high. Additionally, Bitcoin is still trading above $65,500 and the 100 hourly Simple Moving Average.
Bullish Momentum and Key Levels: On the hourly chart of the BTC/USD pair, a bullish trend line is forming with support at $65,900. This trend line aligns closely with the 50% Fibonacci retracement level of the upward move from the $64,280 swing low to the $67,200 high.
Potential Resistance and Upside Targets: Immediate resistance is anticipated near the $67,000 level, with the first major resistance at $67,200. A decisive move above this level could propel the price higher, with the next resistance lying at $68,500. Further upward momentum could push Bitcoin towards the $70,000 mark.

Source: BTCUSD on TradingView.com
Higher Targets and Outlook: Looking ahead, the next major resistance zone is around $70,500. Subsequent gains could potentially lead Bitcoin towards the $72,000 resistance zone in the near term.
Bitcoin Price Analysis: Potential Downside Scenarios
Should Bitcoin fail to break above the $67,000 resistance zone, a downside correction may ensue. Immediate support lies near the $66,200 level.
The first major support level is at $66,000, corresponding to the trend line. A close below $66,000 could initiate a decline towards the $65,400 support level. Further losses might lead the price towards the $64,200 support zone in the near term.
Technical Indicators
Hourly MACD: The MACD is currently losing momentum in the bullish zone.Hourly RSI (Relative Strength Index): The RSI for BTC/USD is presently above the 50 level, indicating potential for further movement.
Major support levels to monitor include $66,200, followed by $66,000. On the upside, major resistance levels are positioned at $67,000, $67,200, and $68,500.

Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.

#ETH #EthereumETFs #Bitcoin #Ethereum #Crypto $BTC $ETH $BNB

The SEC approves Form 19b-4 for eight Ethereum ETF issuers, opening the door for institutional investment, but S-1 registration statements are still pending.

Read more on: https://thecryptobasic.com/2024/05/24/sec-approves-form-19b-4-for-eight-ethereum-etf-issuers/
#EthereumETFs #Crypto #CryptoNewsDaddy #CryptoNews🚀🔥"