The month of May is shaping up to be a pivotal month for Ethereum, the altcoin giant and the essential platform for smart contracts. This crucial month, marked by the wait for decisions from the American SEC on several ETF applications linked to Ethereum, could redefine not only the future of this crypto but also that of the entire ecosystem of decentralized financial applications (DeFi) . As the price of ETH oscillates, the industry holds its breath, anticipating moves that could either catapult Ethereum's value to new highs or confirm fears of a significant pullback.
Our Bitcoin News section is dedicated to providing the latest updates and information about Bitcoin and its underlying technology. Bitcoin's remarkable rise in value from $30,000 in early 2024 to $50,000 on February 13 highlights a strong uptrend. This significant price rise is mainly attributed to the approval of nine Bitcoin ETFs by notable financial giants such as BlackRock, Fidelity, and ARK, among others. The enthusiasm around these ETFs has been palpable, with daily inflows sometimes reaching the $1 billion mark, marking an unprecedented milestone in ETF launches on Wall Street over the past three decades.
Additionally, international momentum is building, with regions like Hong Kong poised to emulate the SEC's approval of Bitcoin ETFs. Another key factor contributing to Bitcoin's bullish outlook is the anticipated Bitcoin halving event, scheduled for late April. Collectively, these developments paint a very optimistic picture of Bitcoin's future trajectory.
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Whale wallets moved 456 million Dogecoin (worth $69 million) to Coinbase, sparking concerns about a new dump that could further suppress the meme coin's price. The tokens were sent from two whale wallets that have held Dogecoin since last year; they sent in all their chips, lending credence to speculation of an imminent dump. Dogecoin has fallen significantly over the past month, losing almost a third of its value in that time. Although the long-term outlook for the meme coin still looks positive, as Crypto News Flash reported, it could be headed for a bigger decline in the short term as whales dump their holdings.
Popular market service Whale Alert noted two massive transfers to Coinbase by two wallets. The first was made on Friday and involved 228.1 million DOGE, worth $34.34 million at the time.