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Breaking News. The U.S. has reportedly cautioned Iran against any retaliatory strikes on Israel, emphasizing the risk of being unable to control an Israeli counter-response, according to Axios. This warning reflects Washington's concerns over escalating regional tensions. Meanwhile, Iran's Supreme Leader has responded firmly, stating that both the U.S. and Israel would face a "crushing response" if provoked. These statements signal a heightened atmosphere of threat and potential conflict as both sides issue strong messages. The situation underscores the fragile stability in the region, with significant implications for broader Middle Eastern relations and international diplomacy. The escalating tension between Iran and Israel could lead to increased volatility in the crypto market. Investors may seek safe-haven assets like Bitcoin, anticipating instability in traditional markets. However, geopolitical conflict also brings uncertainty, which can impact market sentiment and cause short-term price swings. As global tensions rise, cryptocurrencies might see increased demand as alternative assets, potentially influencing prices based on the level and duration of the conflict. #BreakingNews #currentupdate #Marketupdate #cryptoupdate #MarketNews $BTC {spot}(BTCUSDT) $ETH {spot}(ETHUSDT) $SOL {spot}(SOLUSDT)
Breaking News. The U.S. has reportedly cautioned Iran against any retaliatory strikes on Israel, emphasizing the risk of being unable to control an Israeli counter-response, according to Axios. This warning reflects Washington's concerns over escalating regional tensions.

Meanwhile, Iran's Supreme Leader has responded firmly, stating that both the U.S. and Israel would face a "crushing response" if provoked. These statements signal a heightened atmosphere of threat and potential conflict as both sides issue strong messages. The situation underscores the fragile stability in the region, with significant implications for broader Middle Eastern relations and international diplomacy.

The escalating tension between Iran and Israel could lead to increased volatility in the crypto market. Investors may seek safe-haven assets like Bitcoin, anticipating instability in traditional markets. However, geopolitical conflict also brings uncertainty, which can impact market sentiment and cause short-term price swings. As global tensions rise, cryptocurrencies might see increased demand as alternative assets, potentially influencing prices based on the level and duration of the conflict.

#BreakingNews #currentupdate #Marketupdate #cryptoupdate #MarketNews

$BTC
$ETH
$SOL
The crypto market is seeing a major dip, with $200M+ in liquidations as leveraged long positions are forced to sell, creating intense selling pressure. Adding to the downturn is a global "risk-off" sentiment driven by U.S. inflation worries and uncertainty about Federal Reserve rate hikes. Investors are also cashing in on recent gains, particularly in Bitcoin and Ethereum, amplifying the drop. As the Fed’s November meeting approaches, many traders are stepping back from volatile assets like crypto, waiting for clearer signals. #CryptoCrash #Bitcoin #MarketNews
The crypto market is seeing a major dip, with $200M+ in liquidations as leveraged long positions are forced to sell, creating intense selling pressure. Adding to the downturn is a global "risk-off" sentiment driven by U.S. inflation worries and uncertainty about Federal Reserve rate hikes.

Investors are also cashing in on recent gains, particularly in Bitcoin and Ethereum, amplifying the drop. As the Fed’s November meeting approaches, many traders are stepping back from volatile assets like crypto, waiting for clearer signals.

#CryptoCrash #Bitcoin #MarketNews
🚨 BREAKING: Reports indicate a large number of Israeli fighter jets were heard over Syria, followed by explosions in Tehran. This escalation may explain recent pullbacks in the S&P 500 and Bitcoin, as market insiders likely closed positions ahead of the anticipated conflict. The market’s reaction underscores the global impact of heightened tensions. #Israel #Iran #Syria #MarketNews #Bitcoin
🚨 BREAKING: Reports indicate a large number of Israeli fighter jets were heard over Syria, followed by explosions in Tehran.

This escalation may explain recent pullbacks in the S&P 500 and Bitcoin, as market insiders likely closed positions ahead of the anticipated conflict. The market’s reaction underscores the global impact of heightened tensions. #Israel #Iran #Syria #MarketNews #Bitcoin
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What market news have recently captivated you? Share the latest news and discuss their impact on the courses. Let’s stay informed and responsive! 🌐📰 #TradeNTell #MarketNews $BNB
What market news have recently captivated you? Share the latest news and discuss their impact on the courses. Let’s stay informed and responsive! 🌐📰 #TradeNTell #MarketNews $BNB
$ETH ett**🚀 Ethereum Update: Current Situation 🚀** 🔍 **Current Price**: $1,800 📉 **24-Hour Change**: -1.5% 📊 **Market Sentiment**: Neutral **Recent Highlights:** 1. **Network Upgrades**: Anticipation for upcoming Ethereum 2.0 enhancements continues to grow. 2. **DeFi Activity**: Decentralized Finance (DeFi) projects remain strong, maintaining high activity on the network. 3. **NFT Market**: Interest in NFTs is steady, contributing to network usage. **Key Levels to Watch:** - **Support**: $1,750 - **Resistance**: $1,850 **What to Expect:** Expect moderate volatility with a focus on network developments and DeFi trends. Keep an eye on regulatory updates affecting the broader crypto market. Stay updated and trade wisely! 🚀 #ETH #ETH #Crypto #Binance #MarketNews
$ETH ett**🚀 Ethereum Update: Current Situation 🚀**

🔍 **Current Price**: $1,800
📉 **24-Hour Change**: -1.5%
📊 **Market Sentiment**: Neutral

**Recent Highlights:**
1. **Network Upgrades**: Anticipation for upcoming Ethereum 2.0 enhancements continues to grow.
2. **DeFi Activity**: Decentralized Finance (DeFi) projects remain strong, maintaining high activity on the network.
3. **NFT Market**: Interest in NFTs is steady, contributing to network usage.

**Key Levels to Watch:**
- **Support**: $1,750
- **Resistance**: $1,850

**What to Expect:**
Expect moderate volatility with a focus on network developments and DeFi trends. Keep an eye on regulatory updates affecting the broader crypto market.

Stay updated and trade wisely! 🚀

#ETH #ETH #Crypto #Binance #MarketNews
IMF Issues Serious U.S. Dollar Collapse Warning As The Fed Primes Bitcoin, Ethereum And XRP For A Crypto Price Boom As reported in #Forbe , The International Monetary Fund (IMF) has warned of a "striking" decline in the U.S. dollar's share of allocated foreign reserves of central banks and governments... $BTC #XRP #MarketIndicator #MarketNews
IMF Issues Serious U.S. Dollar Collapse Warning As The Fed Primes Bitcoin, Ethereum And XRP For A Crypto Price Boom

As reported in #Forbe ,

The International Monetary Fund (IMF) has warned of a "striking" decline in the U.S. dollar's share of allocated foreign reserves of central banks and governments...

$BTC #XRP #MarketIndicator #MarketNews
CoinDesk Reports 3.37% Bitcoin Decline to $64,373.74The CoinDesk Bitcoin Price Index has dropped $2,247.93 today, or 3.37%, to $64,373.74. This marks the lowest 4 p.m. level since May 14, 2024, when it traded at $61,553.40, and the largest percentage decrease since May 23, 2024, when it fell 3.61%. This decline ends a three-day winning streak, bringing the month-to-date loss to 4.71%. Year-to-date, Bitcoin is up 51.34%. Currently, Bitcoin is down 12.37% from its all-time high of $73,462.59 on March 13, 2024. However, it has increased 129.92% from a year ago (June 20, 2023), when it traded at $27,998.55. It remains 12.37% below its 52-week high of $73,462.59 on March 13, 2024, but has surged 157.43% from its 52-week low of $25,005.87 on September 11, 2023. Today, Bitcoin traded as low as $64,051.50, its lowest intraday level since May 15, 2024, when it hit $61,333.69, and fell 3.86% at today's intraday low. Data compiled by Dow Jones Market Data Note: CoinDesk Bitcoin Price Index (XBX) at 4 p.m. ET close #MarketNews #BTC #BTCUSDT #Binance #6thTrade

CoinDesk Reports 3.37% Bitcoin Decline to $64,373.74

The CoinDesk Bitcoin Price Index has dropped $2,247.93 today, or 3.37%, to $64,373.74. This marks the lowest 4 p.m. level since May 14, 2024, when it traded at $61,553.40, and the largest percentage decrease since May 23, 2024, when it fell 3.61%. This decline ends a three-day winning streak, bringing the month-to-date loss to 4.71%. Year-to-date, Bitcoin is up 51.34%.
Currently, Bitcoin is down 12.37% from its all-time high of $73,462.59 on March 13, 2024. However, it has increased 129.92% from a year ago (June 20, 2023), when it traded at $27,998.55. It remains 12.37% below its 52-week high of $73,462.59 on March 13, 2024, but has surged 157.43% from its 52-week low of $25,005.87 on September 11, 2023.
Today, Bitcoin traded as low as $64,051.50, its lowest intraday level since May 15, 2024, when it hit $61,333.69, and fell 3.86% at today's intraday low.

Data compiled by Dow Jones Market Data

Note: CoinDesk Bitcoin Price Index (XBX) at 4 p.m. ET close
#MarketNews #BTC #BTCUSDT #Binance #6thTrade
Institutional Investors Pull $600 Million from Crypto Amid FOMC Fallout$BTC $SOL The cryptocurrency market faced a tumultuous week as institutional investors yanked a staggering $600 million out of digital asset funds. This abrupt exodus, revealed by CoinShares data, marks the largest outflow since March 22, 2024, echoing a similar trend following a monumental $2 billion inflow just the previous week. The brunt of the retreat was borne by Bitcoin, with a jaw-dropping $621 million exiting its funds. The repercussions were palpable, particularly in the US, where Spot Bitcoin ETFs suffered daily hemorrhaging save for a fleeting $100.8 million influx on June 12. By week's end, these ETFs had bled a substantial $580 million, underlining a profound shift in investor sentiment towards the flagship cryptocurrency. #BTC #SolanaUSTD Solana, another casualty of the week's volatility, bled $0.2 million, further contributing to the sector's woes. Meanwhile, Ethereum grappled with $13.1 million in outflows, contrasting sharply against burgeoning anticipation for forthcoming Spot Ethereum ETFs. Against a backdrop of dwindling trading volumes—plummeting to $11 billion from a yearly average of $22 billion—the sector's total assets under management dwindled from a lofty $100 billion to a diminished $94 billion in just seven days. As the Federal Open Market Committee (FOMC) struck a hawkish tone with unchanged interest rates at 5.25%-5.50%, investors hastily sought refuge in safer havens, casting a pall over the once-booming crypto landscape. Amidst these seismic shifts, pockets of resilience emerged, with BNB, Litecoin, XRP, Chainlink, and Cardano bucking the trend with modest inflows ranging from $0.3 million to $1.1 million. The week's events underscore a stark reminder of crypto's volatility and its susceptibility to macroeconomic factors, leaving investors and enthusiasts alike on edge as they navigate turbulent waters ahead. #MarketNews #BTCFOMCWatch #6thTrade {spot}(SOLUSDT) {spot}(BTCUSDT)

Institutional Investors Pull $600 Million from Crypto Amid FOMC Fallout

$BTC $SOL

The cryptocurrency market faced a tumultuous week as institutional investors yanked a staggering $600 million out of digital asset funds. This abrupt exodus, revealed by CoinShares data, marks the largest outflow since March 22, 2024, echoing a similar trend following a monumental $2 billion inflow just the previous week.
The brunt of the retreat was borne by Bitcoin, with a jaw-dropping $621 million exiting its funds. The repercussions were palpable, particularly in the US, where Spot Bitcoin ETFs suffered daily hemorrhaging save for a fleeting $100.8 million influx on June 12. By week's end, these ETFs had bled a substantial $580 million, underlining a profound shift in investor sentiment towards the flagship cryptocurrency. #BTC #SolanaUSTD
Solana, another casualty of the week's volatility, bled $0.2 million, further contributing to the sector's woes. Meanwhile, Ethereum grappled with $13.1 million in outflows, contrasting sharply against burgeoning anticipation for forthcoming Spot Ethereum ETFs.
Against a backdrop of dwindling trading volumes—plummeting to $11 billion from a yearly average of $22 billion—the sector's total assets under management dwindled from a lofty $100 billion to a diminished $94 billion in just seven days. As the Federal Open Market Committee (FOMC) struck a hawkish tone with unchanged interest rates at 5.25%-5.50%, investors hastily sought refuge in safer havens, casting a pall over the once-booming crypto landscape.
Amidst these seismic shifts, pockets of resilience emerged, with BNB, Litecoin, XRP, Chainlink, and Cardano bucking the trend with modest inflows ranging from $0.3 million to $1.1 million.
The week's events underscore a stark reminder of crypto's volatility and its susceptibility to macroeconomic factors, leaving investors and enthusiasts alike on edge as they navigate turbulent waters ahead.
#MarketNews #BTCFOMCWatch #6thTrade
Dogecoin’s Bright Horizon: Accumulation Indicates Strong Upside$DOGE In the ever-changing landscape of cryptocurrencies, Dogecoin (DOGEUSD) stands at the brink of a potential resurgence. Despite mixed signals, there is a glimmer of hope that the meme coin could soon shine brightly once again. Will the bulls charge ahead and reclaim glory for Dogecoin? Let’s explore the promising signs pointing to a brighter tomorrow. The Bearish Counter: A Challenge to Overcome The price daily active addresses (DAA) divergence indicator presents a challenge, but it’s one that the bulls are ready to tackle. This indicator tracks the discrepancy between Dogecoin's price action and the number of unique addresses participating in daily transactions. A divergence here often signals potential trend reversals. With both participation and price action in decline, the market flashes a sell signal. However, this bearish undercurrent is precisely what could set the stage for a powerful comeback, as savvy investors recognize the potential for a turnaround. #doge⚡ #altcoins #Binance {spot}(DOGEUSDT) The Price Prediction: A Dance Toward Higher Grounds Dogecoin's current price of $0.13 comes after a notable two-week drawdown. Now, the meme coin stands at a crucial juncture, with the potential to consolidate between the well-tested resistance at $0.15 and the steadfast support at $0.12. These levels have been battlegrounds before, and they will be again. The mixed signals hint at a standoff, but the bulls are gearing up for action. A breakout above $0.16 could ignite a rally, reclaiming recent losses and reigniting bullish fervor. With the right momentum, Dogecoin could surge to new heights, buoyed by optimistic investors and accumulating interest. An Optimistic Outlook As Dogecoin navigates these exciting times, investors and enthusiasts alike watch with hopeful anticipation. Will the bulls muster the strength to drive a recovery and push Dogecoin to new heights? The signs point to a promising future, and the coming days will be crucial in determining Dogecoin's path. In this high-stakes game, the potential for a triumphant resurgence is within reach, and Dogecoin might just shine brighter than ever before. $SHIB $PEPE #MarketNews {spot}(PEPEUSDT) {spot}(SHIBUSDT)

Dogecoin’s Bright Horizon: Accumulation Indicates Strong Upside

$DOGE
In the ever-changing landscape of cryptocurrencies, Dogecoin (DOGEUSD) stands at the brink of a potential resurgence. Despite mixed signals, there is a glimmer of hope that the meme coin could soon shine brightly once again. Will the bulls charge ahead and reclaim glory for Dogecoin? Let’s explore the promising signs pointing to a brighter tomorrow.

The Bearish Counter: A Challenge to Overcome
The price daily active addresses (DAA) divergence indicator presents a challenge, but it’s one that the bulls are ready to tackle. This indicator tracks the discrepancy between Dogecoin's price action and the number of unique addresses participating in daily transactions. A divergence here often signals potential trend reversals. With both participation and price action in decline, the market flashes a sell signal. However, this bearish undercurrent is precisely what could set the stage for a powerful comeback, as savvy investors recognize the potential for a turnaround.
#doge⚡ #altcoins #Binance

The Price Prediction: A Dance Toward Higher Grounds
Dogecoin's current price of $0.13 comes after a notable two-week drawdown. Now, the meme coin stands at a crucial juncture, with the potential to consolidate between the well-tested resistance at $0.15 and the steadfast support at $0.12. These levels have been battlegrounds before, and they will be again. The mixed signals hint at a standoff, but the bulls are gearing up for action.
A breakout above $0.16 could ignite a rally, reclaiming recent losses and reigniting bullish fervor. With the right momentum, Dogecoin could surge to new heights, buoyed by optimistic investors and accumulating interest.
An Optimistic Outlook
As Dogecoin navigates these exciting times, investors and enthusiasts alike watch with hopeful anticipation. Will the bulls muster the strength to drive a recovery and push Dogecoin to new heights? The signs point to a promising future, and the coming days will be crucial in determining Dogecoin's path. In this high-stakes game, the potential for a triumphant resurgence is within reach, and Dogecoin might just shine brighter than ever before.
$SHIB $PEPE #MarketNews
PEPE Resurgence: Meme Coin Clings to Vital SupportPEPE's Last Stand: Will the Meme Coin Triumph or Collapse? The rollercoaster ride of meme coin PEPE has taken a dramatic turn. After suffering a streak of red candlesticks, the embattled cryptocurrency is making a valiant attempt at a comeback. The market holds its breath as PEPE teeters above the critical support level of $0.00001146. But beneath this hopeful facade, storm clouds gather, threatening to shatter investors’ dreams. The Hidden Struggle Behind PEPE's Price Despite this apparent recovery, the underlying market conditions tell a grimmer story. Investor behavior and market dynamics do not bode well for PEPE’s resurgence. The Chaikin Money Flow (CMF), a key technical analysis indicator that gauges the buying and selling pressure over a specified period, has plunged to a two-month low. This precipitous drop signals a worrying trend: the outflow of money from PEPE is accelerating, intensifying the selling pressure. $PEPE {spot}(PEPEUSDT) Profit-Takers Pose a Dire Threat The behavior of investors further fuels this anxiety. A closer look at the active addresses by profitability reveals a concerning pattern. PEPE holders who are currently in profit are consistently active on the network, a clear indication that they are likely selling their assets to lock in gains. Typically, if this profitable participation is below 25%, it is considered manageable. However, PEPE has breached this threshold, signaling a potential mass exodus of profit-takers that could destabilize its price. A Precarious Position: PEPE's Price Prediction Currently trading at $0.00001195, PEPE clings to its support at $0.00001146, offering a glimmer of hope to its investors. A successful bounce off this level could indeed be the lifeline PEPE needs, propelling its price to the immediate resistance at $0.00001369. Breaking through this barrier might ignite a rally towards the ambitious target of $0.00001600. Yet, this optimistic scenario is fraught with peril. The persistent lack of conviction among investors poses a grave risk to PEPE's recovery. Should the selling pressure prevail, the meme coin's price could plummet, breaking through the critical support and spiraling down to a bleak $0.00001007. The Verdict: A Tenuous Future PEPE stands at a crossroads, its fate hanging in the balance. The next few days will be crucial in determining whether this meme coin will rise like a phoenix from the ashes or succumb to the relentless pressure of a bearish market. Investors are caught in a tense standoff, their collective actions poised to either save PEPE or seal its doom. As the market watches with bated breath, one thing is certain: the saga of PEPE is far from over, and its next chapter promises to be nothing short of dramatic. #pepe⚡ #altcoins #MarketNews #binance $FLOKI $SHIB {spot}(SHIBUSDT) {spot}(FLOKIUSDT)

PEPE Resurgence: Meme Coin Clings to Vital Support

PEPE's Last Stand: Will the Meme Coin Triumph or Collapse?
The rollercoaster ride of meme coin PEPE has taken a dramatic turn. After suffering a streak of red candlesticks, the embattled cryptocurrency is making a valiant attempt at a comeback. The market holds its breath as PEPE teeters above the critical support level of $0.00001146. But beneath this hopeful facade, storm clouds gather, threatening to shatter investors’ dreams.
The Hidden Struggle Behind PEPE's Price
Despite this apparent recovery, the underlying market conditions tell a grimmer story. Investor behavior and market dynamics do not bode well for PEPE’s resurgence. The Chaikin Money Flow (CMF), a key technical analysis indicator that gauges the buying and selling pressure over a specified period, has plunged to a two-month low. This precipitous drop signals a worrying trend: the outflow of money from PEPE is accelerating, intensifying the selling pressure.
$PEPE

Profit-Takers Pose a Dire Threat

The behavior of investors further fuels this anxiety. A closer look at the active addresses by profitability reveals a concerning pattern. PEPE holders who are currently in profit are consistently active on the network, a clear indication that they are likely selling their assets to lock in gains. Typically, if this profitable participation is below 25%, it is considered manageable. However, PEPE has breached this threshold, signaling a potential mass exodus of profit-takers that could destabilize its price.
A Precarious Position: PEPE's Price Prediction
Currently trading at $0.00001195, PEPE clings to its support at $0.00001146, offering a glimmer of hope to its investors. A successful bounce off this level could indeed be the lifeline PEPE needs, propelling its price to the immediate resistance at $0.00001369. Breaking through this barrier might ignite a rally towards the ambitious target of $0.00001600.
Yet, this optimistic scenario is fraught with peril. The persistent lack of conviction among investors poses a grave risk to PEPE's recovery. Should the selling pressure prevail, the meme coin's price could plummet, breaking through the critical support and spiraling down to a bleak $0.00001007.
The Verdict: A Tenuous Future
PEPE stands at a crossroads, its fate hanging in the balance. The next few days will be crucial in determining whether this meme coin will rise like a phoenix from the ashes or succumb to the relentless pressure of a bearish market. Investors are caught in a tense standoff, their collective actions poised to either save PEPE or seal its doom. As the market watches with bated breath, one thing is certain: the saga of PEPE is far from over, and its next chapter promises to be nothing short of dramatic.
#pepe⚡ #altcoins #MarketNews #binance
$FLOKI $SHIB
Standard Chartered Begins Bitcoin and Ether Spot Trading from London$BTC $ETH Standard Chartered Enters the Crypto Frontier: Ready to Dominate Bitcoin and Ether Trading In a groundbreaking move, Standard Chartered is set to become one of the first international banks to dive into the spot crypto trading market. The bank is gearing up its trading desk to conquer the emerging asset class, positioning itself at the forefront of a financial revolution. London Calling: A New Crypto Hub The new crypto trading desk, based in the heart of London, will be part of Standard Chartered's FX trading unit. This strategic move will see the bank trading the two titans of the crypto world: Bitcoin and Ether. Bitcoin, the digital gold, boasts a market capitalization of $1.2 trillion, while Ether, the backbone of decentralized finance, holds a market value of around $428 billion, according to CoinMarketCap. This isn't Standard Chartered's first venture into the crypto universe. The bank was instrumental in the launch of Zodia Markets in 2021, a crypto exchange and brokerage platform. Furthermore, Standard Chartered holds a stake in Zodia Custody, a crypto custodian service, cementing its commitment to the burgeoning crypto industry. Riding the Wave of Institutional Interest Institutional interest in spot crypto trading has skyrocketed following the SEC's green light on spot Bitcoin ETFs in January. Heavyweights like Millennium Management and Elliott Management have jumped on the Bitcoin ETF bandwagon, and banks haven't lagged. As of March 31, Morgan Stanley had amassed roughly $270 million in Bitcoin ETFs, as reported by CoinDesk. Strategic Collaboration with Regulators Standard Chartered is meticulously working with regulators to cater to the growing demand from institutional clients eager to trade Bitcoin and Ether. This cautious yet ambitious approach ensures that the bank is not only participating but also setting standards in the crypto trading landscape. Nomura: A Fellow Pioneer Joining Standard Chartered in this bold venture is Nomura, another banking giant with a strong crypto footprint. Nomura launched Laser Digital, a crypto trading and asset management firm, in September 2022, with Jez Mohideen at the helm as CEO. The bank also established Komainu, a crypto custodian, in collaboration with CoinShares and Ledger back in 2018. As Standard Chartered prepares to launch its spot crypto trading desk, the financial world watches with bated breath. This move marks a significant milestone in the integration of traditional banking with the dynamic world of cryptocurrencies. With Bitcoin and Ether leading the charge, Standard Chartered is poised to become a formidable player in the multi-trillion-dollar crypto market. Stay tuned as Standard Chartered sets out to redefine the future of finance, bridging the gap between conventional banking and digital innovation. #MarketNews #MicroStrategy #ETHETFsApproved #Binance #6thTrade

Standard Chartered Begins Bitcoin and Ether Spot Trading from London

$BTC $ETH
Standard Chartered Enters the Crypto Frontier: Ready to Dominate Bitcoin and Ether Trading
In a groundbreaking move, Standard Chartered is set to become one of the first international banks to dive into the spot crypto trading market. The bank is gearing up its trading desk to conquer the emerging asset class, positioning itself at the forefront of a financial revolution.
London Calling: A New Crypto Hub
The new crypto trading desk, based in the heart of London, will be part of Standard Chartered's FX trading unit. This strategic move will see the bank trading the two titans of the crypto world: Bitcoin and Ether. Bitcoin, the digital gold, boasts a market capitalization of $1.2 trillion, while Ether, the backbone of decentralized finance, holds a market value of around $428 billion, according to CoinMarketCap.
This isn't Standard Chartered's first venture into the crypto universe. The bank was instrumental in the launch of Zodia Markets in 2021, a crypto exchange and brokerage platform. Furthermore, Standard Chartered holds a stake in Zodia Custody, a crypto custodian service, cementing its commitment to the burgeoning crypto industry.
Riding the Wave of Institutional Interest
Institutional interest in spot crypto trading has skyrocketed following the SEC's green light on spot Bitcoin ETFs in January. Heavyweights like Millennium Management and Elliott Management have jumped on the Bitcoin ETF bandwagon, and banks haven't lagged. As of March 31, Morgan Stanley had amassed roughly $270 million in Bitcoin ETFs, as reported by CoinDesk.
Strategic Collaboration with Regulators
Standard Chartered is meticulously working with regulators to cater to the growing demand from institutional clients eager to trade Bitcoin and Ether. This cautious yet ambitious approach ensures that the bank is not only participating but also setting standards in the crypto trading landscape.
Nomura: A Fellow Pioneer
Joining Standard Chartered in this bold venture is Nomura, another banking giant with a strong crypto footprint. Nomura launched Laser Digital, a crypto trading and asset management firm, in September 2022, with Jez Mohideen at the helm as CEO. The bank also established Komainu, a crypto custodian, in collaboration with CoinShares and Ledger back in 2018.
As Standard Chartered prepares to launch its spot crypto trading desk, the financial world watches with bated breath. This move marks a significant milestone in the integration of traditional banking with the dynamic world of cryptocurrencies. With Bitcoin and Ether leading the charge, Standard Chartered is poised to become a formidable player in the multi-trillion-dollar crypto market.
Stay tuned as Standard Chartered sets out to redefine the future of finance, bridging the gap between conventional banking and digital innovation.
#MarketNews #MicroStrategy #ETHETFsApproved #Binance #6thTrade
Elon Musk Confirms 'Lil X' Continues to Hodl Dogecoin, Igniting DOGE EnthusiasmJun 20, 2024 -U.TODAY Tesla CEO Elon Musk has recently delighted the Dogecoin community by confirming that his son, affectionately known as 'lil X,' is still holding onto his Dogecoin (DOGEUSD). This indirect confirmation came in response to a playful tweet by Dogecoin graphic designer "dogedesigner," who highlighted that 'lil X' remains a dedicated toddler holder, never suggesting selling his holdings. The interaction sparked a wave of reactions across the crypto community. An X (formerly Twitter) user shared a nostalgic throwback to Musk's tweet from February 10, 2021, where Musk had revealed, "Bought some Dogecoin for lil X, so he can be a toddler hodler." The community's curiosity was piqued further when another user asked, "How many Doge X has?" Influence on the Market Musk's tweets have historically had a significant impact on the Dogecoin market. Known as the "Dogefather," Musk's endorsement of Dogecoin has often led to immediate market reactions. His latest tweet once again shines the spotlight on Dogecoin, although the price of Dogecoin was trading down 0.08% in the last 24 hours to $0.122 at the time of writing, yet to show a reaction to the current attention. {spot}(DOGEUSDT) It’s true! 😂— Elon Musk (@elonmusk) June 20, 2024"X is a toddler hodler. Never once has he said sell," Dogedesigner tweeted. Musk reacted with an affirmation, accompanied by a laughter emoji. This lighthearted confirmation quickly caught the attention of the crypto community.Bought some Dogecoin for lil X, so he can be a toddler hodler— Elon Musk (@elonmusk) February 10, 2021 Elon Musk's support for Dogecoin has been unwavering. He has frequently mentioned Dogecoin in his tweets and even allowed it as a payment option for certain Tesla merchandise. In May, Musk tweeted about the passing of Kabosu, the dog behind the DOGE meme, which led to a spike in Dogecoin’s price shortly after. Elon Musk’s latest interaction regarding Dogecoin and his son 'lil X' has once again stirred excitement within the DOGE community. As the Dogefather continues to support and endorse Dogecoin, the crypto world eagerly watches for the next market reaction to his influential tweets. #MarketNews #Binance #doge⚡ #6thTrade #altcoins {spot}(SHIBUSDT) $WIF $SHIB

Elon Musk Confirms 'Lil X' Continues to Hodl Dogecoin, Igniting DOGE Enthusiasm

Jun 20, 2024

-U.TODAY

Tesla CEO Elon Musk has recently delighted the Dogecoin community by confirming that his son, affectionately known as 'lil X,' is still holding onto his Dogecoin (DOGEUSD). This indirect confirmation came in response to a playful tweet by Dogecoin graphic designer "dogedesigner," who highlighted that 'lil X' remains a dedicated toddler holder, never suggesting selling his holdings.
The interaction sparked a wave of reactions across the crypto community. An X (formerly Twitter) user shared a nostalgic throwback to Musk's tweet from February 10, 2021, where Musk had revealed, "Bought some Dogecoin for lil X, so he can be a toddler hodler." The community's curiosity was piqued further when another user asked, "How many Doge X has?"
Influence on the Market
Musk's tweets have historically had a significant impact on the Dogecoin market. Known as the "Dogefather," Musk's endorsement of Dogecoin has often led to immediate market reactions. His latest tweet once again shines the spotlight on Dogecoin, although the price of Dogecoin was trading down 0.08% in the last 24 hours to $0.122 at the time of writing, yet to show a reaction to the current attention.


It’s true! 😂— Elon Musk (@elonmusk) June 20, 2024"X is a toddler hodler. Never once has he said sell," Dogedesigner tweeted. Musk reacted with an affirmation, accompanied by a laughter emoji. This lighthearted confirmation quickly caught the attention of the crypto community.Bought some Dogecoin for lil X, so he can be a toddler hodler— Elon Musk (@elonmusk) February 10, 2021

Elon Musk's support for Dogecoin has been unwavering. He has frequently mentioned Dogecoin in his tweets and even allowed it as a payment option for certain Tesla merchandise. In May, Musk tweeted about the passing of Kabosu, the dog behind the DOGE meme, which led to a spike in Dogecoin’s price shortly after.
Elon Musk’s latest interaction regarding Dogecoin and his son 'lil X' has once again stirred excitement within the DOGE community. As the Dogefather continues to support and endorse Dogecoin, the crypto world eagerly watches for the next market reaction to his influential tweets. #MarketNews #Binance #doge⚡ #6thTrade #altcoins

$WIF $SHIB
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Bearish
🚨 Breaking News! 🚨 📊 US Non-Farm Employment Data** just dropped: 📈 **Announced:** 206K 🔍 **Expectation:** 191K ⬇️ **Previous:** 272K 🏢 **US Unemployment Rate:** 📈 **Announced:** 4.1% 🔍 **Expectation:** 4.0% ⬇️ **Previous:** 4.0% 🔎 Dive into the market impact on Binance and seize the trading opportunities! 💥 #USData #Employment #Unemployment #TradeSmart #MarketNews $BTC $ETH $BNB {spot}(SOLUSDT) {spot}(DOGEUSDT) {spot}(PEPEUSDT)
🚨 Breaking News! 🚨

📊 US Non-Farm Employment Data** just dropped:
📈 **Announced:** 206K
🔍 **Expectation:** 191K
⬇️ **Previous:** 272K

🏢 **US Unemployment Rate:**
📈 **Announced:** 4.1%
🔍 **Expectation:** 4.0%
⬇️ **Previous:** 4.0%

🔎 Dive into the market impact on Binance and seize the trading opportunities! 💥

#USData #Employment #Unemployment #TradeSmart #MarketNews $BTC $ETH $BNB
Biggest Altcoin Gainers of the Third Week of June 2024Despite a 4% drop in global cryptocurrency market capitalization and a 6% decrease in altcoin market dominance, several altcoins have experienced significant gains. Here are the top altcoin performers for the third week of June 2024: Ethereum Name Service $ENS {spot}(ENSUSDT) Leads with 20% Gain #ENS/USDT the native token of the Ethereum-based decentralized domain name system, has surged by 20% in the past week, currently trading at $25.31. This price increase is driven by heightened trading activity, with daily volume reaching $237 million on June 19. Positive market sentiment, measured by a 30-day high weighted sentiment of 1.21 on June 19, has contributed to the bullish trend. ENS’s RSI is at 59.21, and its MFI is at 61.05, both indicating strong buying pressure. If demand continues, ENS could reach $27.59, but profit-taking might push it down to $25.21. Lido (LDO) Clears Key Moving Averages with a 13% Rise #LDO/USDT the governance token of Lido Finance, has seen a 13% price hike over the past week. It is trading above its 20-day EMA and 50-day SMA, indicating a strong bullish trend. The Aroon Up Line for $LDO is at 85.71%, confirming the uptrend’s strength. If this momentum continues, LDO could reach $2.41. However, a bearish reversal could see it fall to $2.13. {spot}(LDOUSDT) Pendle (PENDLE) Rallies by 11% #PENDLE/USDT the governance token of the Pendle protocol, has gained 11% over the past week and is now trading at $5.78. The token saw a spike in daily trading volume, reaching $121 million on June 19. The MACD indicator shows a bullish trend, with the MACD line above the signal line and approaching the zero line. If the bullish sentiment persists, PENDLE might rise to $6.19. Conversely, a bearish takeover could see it drop to $5.79. $PENDLE {spot}(PENDLEUSDT) These altcoins have shown resilience and growth despite a broader market decline, making them noteworthy performers in the cryptocurrency space this week. #MarketNews #6thTrade

Biggest Altcoin Gainers of the Third Week of June 2024

Despite a 4% drop in global cryptocurrency market capitalization and a 6% decrease in altcoin market dominance, several altcoins have experienced significant gains. Here are the top altcoin performers for the third week of June 2024:
Ethereum Name Service $ENS

Leads with 20% Gain
#ENS/USDT the native token of the Ethereum-based decentralized domain name system, has surged by 20% in the past week, currently trading at $25.31. This price increase is driven by heightened trading activity, with daily volume reaching $237 million on June 19. Positive market sentiment, measured by a 30-day high weighted sentiment of 1.21 on June 19, has contributed to the bullish trend. ENS’s RSI is at 59.21, and its MFI is at 61.05, both indicating strong buying pressure. If demand continues, ENS could reach $27.59, but profit-taking might push it down to $25.21.
Lido (LDO) Clears Key Moving Averages with a 13% Rise
#LDO/USDT the governance token of Lido Finance, has seen a 13% price hike over the past week. It is trading above its 20-day EMA and 50-day SMA, indicating a strong bullish trend. The Aroon Up Line for $LDO is at 85.71%, confirming the uptrend’s strength. If this momentum continues, LDO could reach $2.41. However, a bearish reversal could see it fall to $2.13.

Pendle (PENDLE) Rallies by 11%
#PENDLE/USDT the governance token of the Pendle protocol, has gained 11% over the past week and is now trading at $5.78. The token saw a spike in daily trading volume, reaching $121 million on June 19. The MACD indicator shows a bullish trend, with the MACD line above the signal line and approaching the zero line. If the bullish sentiment persists, PENDLE might rise to $6.19. Conversely, a bearish takeover could see it drop to $5.79. $PENDLE

These altcoins have shown resilience and growth despite a broader market decline, making them noteworthy performers in the cryptocurrency space this week.
#MarketNews #6thTrade
XRPUSDT Activity Skyrockets: 80% Volume Increase Signals Recovery According to U TODAY. XRP, the seventh largest cryptocurrency by market cap, has seen an 80% rise in trading volumes, signaling renewed interest among traders and investors. According to CoinMarketCap, XRP's trading volumes surged by 86% to $1.41 billion, coinciding with a recovery in its price. Following a serious dip in early trading, the crypto market showed signs of recovery, with several major coins turning positive. Bitcoin neared $54,000, and XRP rebounded from a low of $0.403 to trade at $0.432, up 2% in the last 24 hours. This spike in trading volume indicates increased buying and selling activity as the market attempts to recover. Crypto Market Sees $441 Million Inflows The market sentiment shifted positively with CoinShares reporting surprising inflows into digital assets despite recent heavy selling. Investors seem to have viewed the price dip as a buying opportunity, leading to $441 million in inflows over the past week. Bitcoin led with $398 million, accounting for 90% of total inflows, as investors diversified across more altcoins. As the crypto market stabilizes, all eyes are on XRP to track its next price movements amidst these recent developments. $XRP {spot}(XRPUSDT) $BONK {spot}(BONKUSDT) $SEI {spot}(SEIUSDT) #XRPUSDT #BinanceTurns7 #Ton_Coin_Surge #MarketNews #6thTrade
XRPUSDT Activity Skyrockets: 80% Volume Increase Signals Recovery

According to U TODAY. XRP, the seventh largest cryptocurrency by market cap, has seen an 80% rise in trading volumes, signaling renewed interest among traders and investors. According to CoinMarketCap, XRP's trading volumes surged by 86% to $1.41 billion, coinciding with a recovery in its price.

Following a serious dip in early trading, the crypto market showed signs of recovery, with several major coins turning positive. Bitcoin neared $54,000, and XRP rebounded from a low of $0.403 to trade at $0.432, up 2% in the last 24 hours.
This spike in trading volume indicates increased buying and selling activity as the market attempts to recover.

Crypto Market Sees $441 Million Inflows
The market sentiment shifted positively with CoinShares reporting surprising inflows into digital assets despite recent heavy selling. Investors seem to have viewed the price dip as a buying opportunity, leading to $441 million in inflows over the past week. Bitcoin led with $398 million, accounting for 90% of total inflows, as investors diversified across more altcoins.
As the crypto market stabilizes, all eyes are on XRP to track its next price movements amidst these recent developments.
$XRP

$BONK

$SEI

#XRPUSDT #BinanceTurns7 #Ton_Coin_Surge

#MarketNews #6thTrade
Daily Crypto Digest: Germany Moves $866 Million in Bitcoin to Market Makers and ExchangesGerman Government Continues Bitcoin Selling Spree According to The BLOCK, German government transferred over 15,000 bitcoins ($866 million) to market makers and exchanges, according to Arkham's data. Recipients included Cumberland DRW, Flow Traders, B2C2 Group, Bitstamp, Coinbase, and Kraken. This follows the seizure of 50,000 BTC from the film piracy site Movie2k in January. Criticism has emerged from Bundestag member Joana Cotar, who argues against selling the bitcoin hastily. The government still holds 23,788 BTC, valued at around $1.3 billion. Bitstamp to Expedite Mt. Gox Bitcoin Distribution Bitstamp plans to distribute its portion of Mt. Gox bitcoin to creditors "as soon as possible" once received, despite having up to 60 days. The Mt. Gox Trustee has already sent 47,229 bitcoins ($2.7 billion) to Japanese exchanges BitBank and SBI VC Trade, which distributed their funds within hours. The remaining 94,771 bitcoins ($5.4 billion) are pending distribution by Bitstamp, Kraken, and BitGo. Kraken has up to 90 days and BitGo up to 20 days, but neither has disclosed their timeline. Coinbase Ventures Invests in Ampleforth's Flatcoin Technology Coinbase Ventures has invested $1 million in Ampleforth's decentralized flatcoin, SPOT. Flatcoins aim to track the cost of living, viewed as the next iteration of stablecoins by Coinbase CEO Brian Armstrong. SPOT launched on the Coinbase-incubated Ethereum Layer 2 Network Base, with new markets on Aerodrome Finance DEX. SPOT combines fiat money and hard commodities characteristics for a decentralized, less volatile asset. ZKM to Launch Bitcoin Layer 2 GOAT Network Metis DAO-incubated ZKM plans to launch its Bitcoin Layer 2 solution, GOAT Network, this quarter. GOAT Network uses a decentralized sequencer model for network security and yield for node operators. It has secured 5,000 BTC ($287.5 million) in commitments and plans a $5 million Series A fundraising round. GOAT Network aims to become a "Universal Layer 2," starting with Bitcoin and expanding to Ethereum, TON, Cosmos, and others. $1 Million Bug Bounty for 'Firedancer' Solana Client Jump Crypto's Firedancer, an independent Solana validator client, will launch a $1 million bug bounty program starting July 10. The six-week program, powered by Immunefi, offers rewards for finding bugs in the first version, "Frankendancer." Firedancer aims to enhance Solana's resiliency and optimize high-frequency trading through its C/C++ implementation. Upcoming Events - U.S. Fed Chair Jerome Powell will testify on economic outlook and monetary policy before the Joint Economic Committee on Tuesday at 10 a.m. ET. - U.S. FOMC member Michelle Bowman will speak at 1:30 p.m. - The Ethereum Community Conference continues in Brussels. $BTC {spot}(BTCUSDT) #Ton_Coin_Surge #BTCUSDTUPDATE #BinanceTurns7 #6thTrade #MarketNews

Daily Crypto Digest: Germany Moves $866 Million in Bitcoin to Market Makers and Exchanges

German Government Continues Bitcoin Selling Spree
According to The BLOCK, German government transferred over 15,000 bitcoins ($866 million) to market makers and exchanges, according to Arkham's data. Recipients included Cumberland DRW, Flow Traders, B2C2 Group, Bitstamp, Coinbase, and Kraken. This follows the seizure of 50,000 BTC from the film piracy site Movie2k in January. Criticism has emerged from Bundestag member Joana Cotar, who argues against selling the bitcoin hastily. The government still holds 23,788 BTC, valued at around $1.3 billion.
Bitstamp to Expedite Mt. Gox Bitcoin Distribution
Bitstamp plans to distribute its portion of Mt. Gox bitcoin to creditors "as soon as possible" once received, despite having up to 60 days. The Mt. Gox Trustee has already sent 47,229 bitcoins ($2.7 billion) to Japanese exchanges BitBank and SBI VC Trade, which distributed their funds within hours. The remaining 94,771 bitcoins ($5.4 billion) are pending distribution by Bitstamp, Kraken, and BitGo. Kraken has up to 90 days and BitGo up to 20 days, but neither has disclosed their timeline.

Coinbase Ventures Invests in Ampleforth's Flatcoin Technology
Coinbase Ventures has invested $1 million in Ampleforth's decentralized flatcoin, SPOT. Flatcoins aim to track the cost of living, viewed as the next iteration of stablecoins by Coinbase CEO Brian Armstrong. SPOT launched on the Coinbase-incubated Ethereum Layer 2 Network Base, with new markets on Aerodrome Finance DEX. SPOT combines fiat money and hard commodities characteristics for a decentralized, less volatile asset.
ZKM to Launch Bitcoin Layer 2 GOAT Network
Metis DAO-incubated ZKM plans to launch its Bitcoin Layer 2 solution, GOAT Network, this quarter. GOAT Network uses a decentralized sequencer model for network security and yield for node operators. It has secured 5,000 BTC ($287.5 million) in commitments and plans a $5 million Series A fundraising round. GOAT Network aims to become a "Universal Layer 2," starting with Bitcoin and expanding to Ethereum, TON, Cosmos, and others.
$1 Million Bug Bounty for 'Firedancer' Solana Client
Jump Crypto's Firedancer, an independent Solana validator client, will launch a $1 million bug bounty program starting July 10. The six-week program, powered by Immunefi, offers rewards for finding bugs in the first version, "Frankendancer." Firedancer aims to enhance Solana's resiliency and optimize high-frequency trading through its C/C++ implementation.
Upcoming Events
- U.S. Fed Chair Jerome Powell will testify on economic outlook and monetary policy before the Joint Economic Committee on Tuesday at 10 a.m. ET.
- U.S. FOMC member Michelle Bowman will speak at 1:30 p.m.
- The Ethereum Community Conference continues in Brussels.
$BTC

#Ton_Coin_Surge #BTCUSDTUPDATE #BinanceTurns7 #6thTrade #MarketNews
Investment manager VanEck files to list spot Solana ETF $SOL {spot}(SOLUSDT) investment manager VanEck filed to list an exchange-traded fund (ETF) tied to the spot price of crypto token Solana, according to a regulatory filing on Thursday. The filing comes months after the approval of spot bitcoin ETFs, which paved the way for fund managers to mull providing similar investment vehicles tied to other cryptocurrencies. The Securities and Exchange Commission is also expected to approve ether ETFs as soon as next week, Reuters reported. VanEck did not disclose the fees it would charge for the fund. Investment manager VanEck filed to list a spot exchange traded fund (ETF) tied to the spot price of crypto token Solana, according to a regulatory filing on Thursday. #MarketNews #SOLANAETF #Binance #altcoins #6thTrade -Reuters $ETH $BNB {spot}(BNBUSDT) {spot}(ETHUSDT)
Investment manager VanEck files to list spot Solana ETF

$SOL

investment manager VanEck filed to list an exchange-traded fund (ETF) tied to the spot price of crypto token Solana, according to a regulatory filing on Thursday.
The filing comes months after the approval of spot bitcoin ETFs, which paved the way for fund managers to mull providing similar investment vehicles tied to other cryptocurrencies.
The Securities and Exchange Commission is also expected to approve ether ETFs as soon as next week, Reuters reported.
VanEck did not disclose the fees it would charge for the fund.

Investment manager VanEck filed to list a spot exchange traded fund (ETF) tied to the spot price of crypto token Solana, according to a regulatory filing on Thursday.
#MarketNews #SOLANAETF #Binance #altcoins #6thTrade

-Reuters

$ETH $BNB
Weekly Outflows Hit $581 Million for US Bitcoin ETFs After Hawkish Fed Meeting U.S. spot Bitcoin exchange-traded funds (ETFs) experienced a staggering $580.6 million in net outflows last week, shattering a five-week streak of inflows. Grayscale’s recently converted GBTC ETF led the exodus with a colossal $274.3 million fleeing the higher-fee fund. Ark Invest’s ARKB and Fidelity’s FBTC followed suit with significant outflows of $149.7 million and $146.3 million, respectively. Amidst the chaos, BlackRock’s IBIT emerged as the sole sanctuary, attracting a modest yet notable $41.6 million in net inflows. Meanwhile, the remaining U.S. spot Bitcoin ETFs stood still, witnessing net outflows of zero for the week. Despite the tumult, total net inflows into these ETFs since their January inception remain a formidable $15.1 billion. This mass exodus brought an abrupt end to a record-breaking 19-day streak of positivity, during which the ETFs amassed over $4 billion in net inflows. The downturn began with a jarring $64.9 million in net outflows last Monday, triggered by conflicting U.S. economic data on non-farm payrolls and unemployment, sowing seeds of uncertainty and pushing investors away from riskier assets, as noted by QCP Capital. $BTC {spot}(BTCUSDT) The sell-off intensified on Tuesday, with another $200.4 million in net outflows looming ahead of the Federal Open Market Committee (FOMC) meeting. A brief respite came on Wednesday, bringing in $100.8 million in net inflows. However, the Federal Reserve's decision to hold interest rates at 5.5%, coupled with hints of only one rate cut in 2024 amid persistent inflationary pressures, spurred further outflows of $226.2 million on Thursday and a staggering $189.9 million on Friday. The more hawkish-than-expected FOMC meeting reverberated globally, causing digital asset investment products to hemorrhage $600 million last week — the largest outflow since March 22, according to CoinShares' latest report. Bitcoin bore the brunt, with $621 million in outflows, while bearish sentiment also spurred $1.8 million in inflows into short-bitcoin positions, as highlighted by CoinShares Head of Research James Butterfill. Butterfill attributed this massive outflow to the unexpectedly hawkish FOMC meeting, which prompted investors to scale back their exposure to fixed-supply assets. The resultant net outflows, coupled with a 5% drop in Bitcoin's price amid a broader crypto market sell-off, slashed global assets under management from $100 billion to $94 billion. {spot}(ETHUSDT) Trading volumes for global digital asset investment products also plummeted last week to $11 billion, starkly lower than the yearly weekly average of $22 billion, according to CoinShares. U.S. spot Bitcoin ETFs generated $8.73 billion in trading volume for the week, a far cry from the peak of $32.69 billion witnessed in early March. Cumulative trading volumes for these ETFs now approach a monumental $300 billion, as per The Block's data dashboard. In a twist defying the trend, ether-based investment products recorded $13 million in net inflows globally last week. Analysts speculate that once live, Ethereum spot ETFs could capture 10-20% of the flows currently directed towards Bitcoin ETFs, drawing parallels to historical trends observed in gold and silver ETFs. {spot}(BNBUSDT) The U.S. Securities and Exchange Commission (SEC) approved 19b-4 forms for eight spot Ethereum ETFs from heavyweights like BlackRock and Fidelity on May 23. However, the crucial S-1 registration statements must be declared effective before trading can commence, a process potentially extending over weeks. SEC Chair Gary Gensler projected that S-1 approvals for spot Ethereum ETFs could materialize by the end of summer. On a hopeful note, Bloomberg ETF analysts Eric Balchunas and James Seyffart speculated that these launches could occur as early as July 2, bolstered by reports of SEC staff issuing light comments on S-1s with a swift turnaround expected. As the crypto market braces for the next wave of turbulence, the unfolding drama in the ETF landscape continues to captivate and confound investors worldwide. #BTCFOMCWatch #BlackRock⁩ #ark #MarketNews #6thTrade

Weekly Outflows Hit $581 Million for US Bitcoin ETFs After Hawkish Fed Meeting

U.S. spot Bitcoin exchange-traded funds (ETFs) experienced a staggering $580.6 million in net outflows last week, shattering a five-week streak of inflows. Grayscale’s recently converted GBTC ETF led the exodus with a colossal $274.3 million fleeing the higher-fee fund. Ark Invest’s ARKB and Fidelity’s FBTC followed suit with significant outflows of $149.7 million and $146.3 million, respectively.

Amidst the chaos, BlackRock’s IBIT emerged as the sole sanctuary, attracting a modest yet notable $41.6 million in net inflows. Meanwhile, the remaining U.S. spot Bitcoin ETFs stood still, witnessing net outflows of zero for the week. Despite the tumult, total net inflows into these ETFs since their January inception remain a formidable $15.1 billion.
This mass exodus brought an abrupt end to a record-breaking 19-day streak of positivity, during which the ETFs amassed over $4 billion in net inflows. The downturn began with a jarring $64.9 million in net outflows last Monday, triggered by conflicting U.S. economic data on non-farm payrolls and unemployment, sowing seeds of uncertainty and pushing investors away from riskier assets, as noted by QCP Capital.
$BTC

The sell-off intensified on Tuesday, with another $200.4 million in net outflows looming ahead of the Federal Open Market Committee (FOMC) meeting. A brief respite came on Wednesday, bringing in $100.8 million in net inflows. However, the Federal Reserve's decision to hold interest rates at 5.5%, coupled with hints of only one rate cut in 2024 amid persistent inflationary pressures, spurred further outflows of $226.2 million on Thursday and a staggering $189.9 million on Friday.
The more hawkish-than-expected FOMC meeting reverberated globally, causing digital asset investment products to hemorrhage $600 million last week — the largest outflow since March 22, according to CoinShares' latest report. Bitcoin bore the brunt, with $621 million in outflows, while bearish sentiment also spurred $1.8 million in inflows into short-bitcoin positions, as highlighted by CoinShares Head of Research James Butterfill.
Butterfill attributed this massive outflow to the unexpectedly hawkish FOMC meeting, which prompted investors to scale back their exposure to fixed-supply assets. The resultant net outflows, coupled with a 5% drop in Bitcoin's price amid a broader crypto market sell-off, slashed global assets under management from $100 billion to $94 billion.

Trading volumes for global digital asset investment products also plummeted last week to $11 billion, starkly lower than the yearly weekly average of $22 billion, according to CoinShares. U.S. spot Bitcoin ETFs generated $8.73 billion in trading volume for the week, a far cry from the peak of $32.69 billion witnessed in early March. Cumulative trading volumes for these ETFs now approach a monumental $300 billion, as per The Block's data dashboard.
In a twist defying the trend, ether-based investment products recorded $13 million in net inflows globally last week. Analysts speculate that once live, Ethereum spot ETFs could capture 10-20% of the flows currently directed towards Bitcoin ETFs, drawing parallels to historical trends observed in gold and silver ETFs.

The U.S. Securities and Exchange Commission (SEC) approved 19b-4 forms for eight spot Ethereum ETFs from heavyweights like BlackRock and Fidelity on May 23. However, the crucial S-1 registration statements must be declared effective before trading can commence, a process potentially extending over weeks.
SEC Chair Gary Gensler projected that S-1 approvals for spot Ethereum ETFs could materialize by the end of summer. On a hopeful note, Bloomberg ETF analysts Eric Balchunas and James Seyffart speculated that these launches could occur as early as July 2, bolstered by reports of SEC staff issuing light comments on S-1s with a swift turnaround expected.
As the crypto market braces for the next wave of turbulence, the unfolding drama in the ETF landscape continues to captivate and confound investors worldwide.
#BTCFOMCWatch #BlackRock⁩ #ark #MarketNews #6thTrade
#write2earn Crypto Market Steadies as Bitcoin Consolidates and Bittensor Nears $500 #BittensorTAO #MarketNews #FIT21 #etf $TAO $BTC The overall cryptocurrency market cap (TOTAL) remains stable as the market cools off. Bitcoin's (BTC) price is expected to consolidate over the coming trading sessions, while the Bit tensor DAO token (TAO) continues its rally, nearing the $500 mark. In the News Today: US House of Representatives: Passed the Financial Innovation and Technology for the 21st Century Act (FIT21), setting up a framework for digital asset regulation. Van Eck: Pushed the SEC to approve spot Ethereum ETF filings on a first-come, first-served basis. Van Eck argues that the SEC's practice of approving all filings simultaneously to avoid giving a first mover advantage raises fairness issues. The total crypto market cap is at a crucial support level of $2.50 trillion, with anticipation of a rebound due to recent inflows. The next resistance is at $2.61 trillion, but a bullish move might only reach $2.55 trillion. Falling below $2.50 trillion could lead to a decline to $2.45 trillion, negating bullish prospects. Bitcoin Might See Consolidation: Bitcoin is trading at $69,500 after failing to break $71,800. It has critical support at $68,500 and is expected to stay rangebound between $68,500 and $71,800. If it loses support at $68,500, it could drop to $66,000. TAO Faces a Barrier: TAO is trading at $468 after a 30% rise. TAO is approaching the $500 resistance, a level it has struggled to close above. Breaking through $500 could signal a positive shift, but failure might see TAO fall back to $418 or even $351.
#write2earn Crypto Market Steadies as Bitcoin Consolidates and Bittensor Nears $500
#BittensorTAO #MarketNews #FIT21 #etf
$TAO $BTC

The overall cryptocurrency market cap (TOTAL) remains stable as the market cools off. Bitcoin's (BTC) price is expected to consolidate over the coming trading sessions, while the Bit tensor DAO token (TAO) continues its rally, nearing the $500 mark.

In the News Today:

US House of Representatives: Passed the Financial Innovation and Technology for the 21st Century Act (FIT21), setting up a framework for digital asset regulation.

Van Eck: Pushed the SEC to approve spot Ethereum ETF filings on a first-come, first-served basis. Van Eck argues that the SEC's practice of approving all filings simultaneously to avoid giving a first mover advantage raises fairness issues.

The total crypto market cap is at a crucial support level of $2.50 trillion, with anticipation of a rebound due to recent inflows. The next resistance is at $2.61 trillion, but a bullish move might only reach $2.55 trillion. Falling below $2.50 trillion could lead to a decline to $2.45 trillion, negating bullish prospects.

Bitcoin Might See Consolidation:

Bitcoin is trading at $69,500 after failing to break $71,800. It has critical support at $68,500 and is expected to stay rangebound between $68,500 and $71,800. If it loses support at $68,500, it could drop to $66,000.

TAO Faces a Barrier:

TAO is trading at $468 after a 30% rise. TAO is approaching the $500 resistance, a level it has struggled to close above. Breaking through $500 could signal a positive shift, but failure might see TAO fall back to $418 or even $351.
Solana ETF Speculation Heats Up as BlackRock and VanEck Take Bold StepsAug 1, 2024 According to Beincrypto, VanEck’s Head of Digital Assets Research, Mathew Sigel, believes that Solana ETFs (exchange-traded funds) might arrive on the market sooner than expected. This view contrasts with BlackRock’s more cautious stance, with the investment giant feeling it might be too early to introduce such a financial product. Solana (SOLUSD) continues to be a strong player in the crypto market, having first challenged Ethereum regarding scalability and network fees before entering the conversation around ETFs. Solana ETFs: A Promising Development According to VanEck Advocating for Solana ETFs, Sigel current regulatory hurdlespoints to the European market, which already has various ETPs (exchange-traded products), including single coin and basket options. He expressed VanEck's ambition to lead similar innovations in the U.S. During an appearance on The Wolf of All Streets Podcast, Sigel acknowledged the regulatory hurdles currently in place, largely attributed to SEC Chair Gary Gensler. However, he remains hopeful that the regulatory environment might soon improve, opening up more opportunities for diverse crypto ETFs. In a recent discussion reported by BeInCrypto, Sigel outlined the process for getting an SOL-based ETF approved, drawing parallels between Solana and Ethereum. He maintains that the establishment of an Ethereum ETF sets a precedent for a potential Solana ETF. Sigel also reiterated VanEck’s strong commitment to crypto and ETFs, noting that the firm's CEO, Jan Van Eck, stated at the Bitcoin 2024 Conference that 30% of his personal assets are in Bitcoin. The anticipation of a friendlier regulatory climate is shared by figures like former President Donald Trump, who at the Bitcoin 2024 Conference, pledged to replace Gensler if re-elected, potentially easing regulations. This sentiment is echoed by ETF Store President Nate Geraci, while crypto analyst Miles Deutscher remains more measured, acknowledging the rapid growth in crypto and the possibility of a Solana ETF becoming viable soon. BlackRock's Skepticism Over Solana ETFs Despite this optimism, BlackRock is not convinced. Robert Mitchnick, head of digital assets at BlackRock, pointed out the market cap and maturity differences between leading cryptos like Bitcoin and Ethereum and smaller assets like Solana. He noted that BlackRock has no immediate plans for a Solana ETF, emphasizing that Bitcoin and Ethereum dominate the market cap, with Bitcoin holding about 55% and Ethereum around 18%. He suggested that it's premature to consider a Solana ETF due to its relatively smaller market presence. BlackRock’s cautious approach, as reported by BeInCrypto, focuses on established cryptocurrencies like Bitcoin and Ethereum for their ETFs, citing concerns about the investability of smaller assets like Solana. Meanwhile, SEC Commissioner Hester Pierce indicated that the SEC needs more convincing before approving a Solana ETF, noting ongoing debates within the commission about what constitutes a security. As discussions around Solana ETFs continue, major players in the market are positioning themselves for potential rewards. So far, only VanEck and 21Shares have filed to list such an instrument. The Chicago Board Options Exchange (CBOE) has also taken steps by filing form 19b-4s for Solana ETFs, inviting public commentary. Despite the buzz, recent data from BeInCrypto shows that Solana has dropped by 8%, trading at $168.40 amidst a broader downturn in the crypto markets $SOL {spot}(SOLUSDT) $SOL {future}(SOLUSDT) #Market_Update #MarketNews #6thTrade #ETFsApproval

Solana ETF Speculation Heats Up as BlackRock and VanEck Take Bold Steps

Aug 1, 2024
According to Beincrypto, VanEck’s Head of Digital Assets Research, Mathew Sigel, believes that Solana ETFs (exchange-traded funds) might arrive on the market sooner than expected. This view contrasts with BlackRock’s more cautious stance, with the investment giant feeling it might be too early to introduce such a financial product.
Solana (SOLUSD) continues to be a strong player in the crypto market, having first challenged Ethereum regarding scalability and network fees before entering the conversation around ETFs.
Solana ETFs: A Promising Development According to VanEck
Advocating for Solana ETFs, Sigel current regulatory hurdlespoints to the European market, which already has various ETPs (exchange-traded products), including single coin and basket options. He expressed VanEck's ambition to lead similar innovations in the U.S.
During an appearance on The Wolf of All Streets Podcast, Sigel acknowledged the regulatory hurdles currently in place, largely attributed to SEC Chair Gary Gensler. However, he remains hopeful that the regulatory environment might soon improve, opening up more opportunities for diverse crypto ETFs.

In a recent discussion reported by BeInCrypto, Sigel outlined the process for getting an SOL-based ETF approved, drawing parallels between Solana and Ethereum. He maintains that the establishment of an Ethereum ETF sets a precedent for a potential Solana ETF.
Sigel also reiterated VanEck’s strong commitment to crypto and ETFs, noting that the firm's CEO, Jan Van Eck, stated at the Bitcoin 2024 Conference that 30% of his personal assets are in Bitcoin.
The anticipation of a friendlier regulatory climate is shared by figures like former President Donald Trump, who at the Bitcoin 2024 Conference, pledged to replace Gensler if re-elected, potentially easing regulations. This sentiment is echoed by ETF Store President Nate Geraci, while crypto analyst Miles Deutscher remains more measured, acknowledging the rapid growth in crypto and the possibility of a Solana ETF becoming viable soon.
BlackRock's Skepticism Over Solana ETFs
Despite this optimism, BlackRock is not convinced. Robert Mitchnick, head of digital assets at BlackRock, pointed out the market cap and maturity differences between leading cryptos like Bitcoin and Ethereum and smaller assets like Solana. He noted that BlackRock has no immediate plans for a Solana ETF, emphasizing that Bitcoin and Ethereum dominate the market cap, with Bitcoin holding about 55% and Ethereum around 18%. He suggested that it's premature to consider a Solana ETF due to its relatively smaller market presence.
BlackRock’s cautious approach, as reported by BeInCrypto, focuses on established cryptocurrencies like Bitcoin and Ethereum for their ETFs, citing concerns about the investability of smaller assets like Solana.
Meanwhile, SEC Commissioner Hester Pierce indicated that the SEC needs more convincing before approving a Solana ETF, noting ongoing debates within the commission about what constitutes a security.
As discussions around Solana ETFs continue, major players in the market are positioning themselves for potential rewards. So far, only VanEck and 21Shares have filed to list such an instrument. The Chicago Board Options Exchange (CBOE) has also taken steps by filing form 19b-4s for Solana ETFs, inviting public commentary.
Despite the buzz, recent data from BeInCrypto shows that Solana has dropped by 8%, trading at $168.40 amidst a broader downturn in the crypto markets
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