Ethereum ETFs soon began trading today in the U.S, through Nasdaq, NYSE, and Cboe.

Grayscale moved $1.1 billion worth of ETH to Coinbase.

Ending the eight month, the Securities and Exchange Commission (SEC) flashed the greenlight to the entry of spot Ethereum Exchange Traded Funds (ETF’s) in the U.S. This approval of ETH ETFs began trading in the market today.   

The investors were highly anticipating the new crypto asset to invest in. ETH ETF applicants received approval for their 19b-4 filings earlier in May, as partial approval. However, there were considerable delays on the SEC’s end in drafting the final documents. The greenlight of the S-1 filing was required before the product went live today.

The Exchange NYSE Arca confirmed yesterday that it has approval to list and begin trading Grayscale Ethereum Trust and Bitwise Ethereum ETF from July 23. Similarly, the Chicago Board Options Exchange (CBOE) is to list five new ether exchange-traded funds (ETFs) today. These five spot ethereum ETFs are from 21shares, VanEck, Fidelity, Franklin Templeton, and Invesco Galaxy. 

Will the ETFs Impact the Ethereum Price? 

The leading cryptocurrency, Bitcoin debuted its ETF in January 2024. Following that, the BTC price rose to its all-time high of $73K within three months of approval. The Ethereum ETF is the second crypto-based ETF to start trading in the United States. 

Moreover, the crypto market is anticipating the expansion of the ETH price after the ETF trading. Meanwhile, Kaleo, a crypto analyst predicted that there is a “high likelihood we see some type of pullback after the spot ETF launches.” He predicted that the asset would drop before the inevitable price discovery.

In the long run, the community is expecting that Ethereum could push its price beyond the $4K zone. Currently, the Ethereum price is struggling to clear the $3,500 resistance zone. ETH is trading at $3,450, reflecting a 1.12% decline. 

The ETF approval of Solana is anticipated next in the market. In late June, VanEck submitted a filing for a product investing in Solana, the fifth-biggest cryptocurrency by market value—another attempt by ETF issuers to raise demand for digital assets. Moreover, the approval of a Solana ETF might further integrate Solana into the mainstream financial ecosystem. 

Highlighted Crypto News

Must-Watch Top Crypto Gainers During Market Dip

Ethereum Name Service, XRP, and Bitget Token are the top crypto gainers in the past 24 hours.

Bitcoin (BTC) dropped 1.84% and Ethereum (ETH) fell 2.6% in the past day.

The global crypto market displayed a slight dip today. Despite the U.S. SEC’s final approval for Spot Ether exchange-traded funds to commence trading on July 23, the anticipated market boost did not materialize during the Asian trading hours. Instead, Bitcoin (BTC) saw a 1.84% decline, while Ethereum (ETH) dropped by 2.6% against the U.S. dollar over the past 24 hours.

Currently, the total cryptocurrency market valuation stands at $2.42 trillion, reflecting a 1.86% decrease in the last day. Despite the overall downturn, some cryptocurrencies have shown positive momentum, with more than two dozen digital assets posting double-digit gains over the past week. According to the CoinMarket data, Ethereum Name Service (ENS), XRP (XRP), and Bitget Token (BGB) turn out to be the top 3 crypto gainers.

Ethereum Name Service (ENS)

In the last 24 hours, Ethereum Name Service (ENS), a domain naming system built on the Ethereum blockchain to make the Ethereum-based web easier to access and understand for humans, has topped the gainer list with the maximum gain.

Ethereum Name Service (ENS) Price Chart (Source: CoinMarketCap )

The trading price of ENS soared over 10.13% in the past day, climbing from a low of $25.58 to a high of $28.17. At the time of writing, ENS is trading at around $27.49, with a market cap of $888 million. The trading volume of ENS has also recorded a significant increase of 83% to $226 million. 

XRP (XRP)

XRP is a native crypto token of Ripple Labs that operates on its decentralized, open-source blockchain, the XRP Ledger (XRPL). In the past 24 hours, XRP has showcased a rally of around 6.14%, with prices moving from $0.5867 to $0.6227.

Ripple (XRP) Price Chart (Source: CoinMarketCap )

Currently, XRP is trading at around $0.5989, marking a 10.45% rise over the past week. The trading volume of XRP witnessed a surge of 47% to $2.11 billion, according to CoinMarketCap.

Bitget Token (BGB)

Bitget Token is a native cryptocurrency on the centralized crypto exchange Bitget. BGB is built on the Ethereum blockchain and ERC-20. BGB has placed in the third position among the top gainers. In the past 24 hours, Biget Token has surged about 4.35%, with prices ranging from $1.15 to $1.20.

Bitget Token (BGB) Price Chart (Source: CoinMarketCap )

At the time of writing, the trading price of Bitget Token was $1.20, marking a monthly high with an 11% rally over the past week. The trading volume experienced an increase of 31% to $33 million. 

Grayscale moved $1B worth ETH to Coinbase prime with approaching spot ETF trading. 

The ETF issuer has announced the highest initial and post-waiver fees in the market.

US spot Ethereum ETFs received approval from the SEC on Monday after leading issuers filed 424(b) forms. Grayscale issuing two of the nine spot ETFs was observed transferring ETH tokens worth $1.01 billion from its Coinbase Prime deposit onto the platform’s Hot Wallet 8 hours ago. This has led to market speculations, while some analysts have seen this as preparation for the ETF launch, others expressed uncertainty. 

According to Arkham Intelligence data, the ETF issuer transferred 292.263K ETH tokens to the Coinbase Prime Exchange. Following this, Coinbase Hot Wallet, which received the $1.01 billion worth of tokens, transferred the funds to different wallets of the Grayscale Mini trust. The Grayscale wallet currently holds 2.959 ETH tokens worth $10.20 billion. 

Notably, when Grayscale initiated the transactions, market speculations rose. Analysts perceived the move as Grayscale attempting to rotate ETH for another altcoin such as SOL. 

However, Nexyst Digital’s managing partner Jon Campagna, in his X account stated that the issuer is funding its Ethereum Mini ETF (ETH). The ETF giant is also issuing Grayscale spot Ethereum ETF with a ticker ETHE. 

Jon Campagna tweeted: 

“ In order to fund the 1/10 or 10% of the $10B AUM that ETHE has…they moved $1B, or 10% to Coinbase prime…Just as they stated they would do a week ago.” 

The US-based ETF issuer has received severe criticisms from market analysts for its high fees on spot ETFs. Grayscale currently has announced the highest initial fee and post-waiver fee in the market. 

What is Grayscale Aiming with Two Spot ETH ETFs? 

Bloomberg’s ETF analyst, Eirc Balchunas also discussed Grayscale’s high fees. The issuer announced a standard fee of 2.50% for both initial and post-waiver periods. Its other competitors such as Franklin Templeton and VanEck have announced zero initial fees attempting to attract investors. 

Moreover, Balchunas predicted that the high fees might cause Grayscale to see increased outflows. Additionally, he stated that the mini ETF on the other hand, might be extremely cheap. 

In the past weeks, Grayscale’s movements within the spot Ethereum ETFs sector have been quoted as ‘dynamic’ and ‘interesting’ by market analysts. Meanwhile, despite the SEC’s approval, ETH prices haven’t yet priced in the ETF launch. 

Highlighted Crypto News Today: 

Is Bitcoin (BTC) on the Verge of a $70K Milestone?

Bitcoin surpassed $65K resistance, reaching a 41-day high.

Recent decline with 37.4k BTC whale transfer and overbought RSI.

Bitcoin bulls have had a tumultuous week, breaking the $65,000 resistance after nearly a month and reaching a 41-day high of $68,474 yesterday. This peak came just hours before US regulators approved spot Ethereum exchange-traded funds, a move expected to impact the market positively. However, Bitcoin has declined 1.46% in the past 24 hours, despite a 48% increase in trading volume.

Meanwhile, the recent price dip coincides with a significant whale movement, with 37.4k BTC transferred between unknown wallets. Additionally, the daily Relative Strength Index (RSI) indicates that Bitcoin has reached an overbought situation, suggesting a potential for a price correction.

July has been eventful for Bitcoin, with several major occurrences impacting its price. The German government made substantial transfers, and Mt. Gox began repaying BTC to creditors, causing the price to dip below $57,600. Despite these setbacks, analysts maintain a positive outlook on Bitcoin, citing its historical ability to recover and return to bullish trends.

Analysts suggest that if Bitcoin surpasses the $69,000 mark, it could reach new highs. Notably, 93% of Bitcoin addresses are in profit after Bitcoin’s recent move to $67,000, indicating strong market support.

What Can Bitcoin Traders Expect?

Bitcoin’s recent price action reflects a bullish trend, highlighted by its breach of the $68,870 resistance level. Analysts predict that Bitcoin can potentially test the $72,272 level soon. However, if bears regain control, Bitcoin could retrace to $60,892 initially and potentially fall further to $57,861 in a more pronounced decline.

BTC Price Chart, Source: TradingView

Looking back, Bitcoin’s performance in July has been marked by significant events and market movements. Despite some fluctuations, the overall sentiment remains bullish. The approval of spot Ethereum ETFs by US regulators is expected to positively impact the market, potentially boosting Bitcoin’s price shortly.

In conclusion, Bitcoin’s recent activity suggests a robust bullish trend with potential for further gains. While short-term corrections are possible, the overall outlook remains positive. Analysts forecasting new highs if key resistance levels are breached.

Highlighted News Of The Day

Michael Saylor Shares Bitcoin’s Gain Since 2020, Outpacing S&P 500

Swisstronik, a modular Layer 1 ecosystem, is thrilled to announce the release of its Incentivized Testnet 2.0. Now blockchain enthusiasts and developers worldwide can connect with Swisstronik’s state-of-the-art ecosystem and shape the development of the blockchain platform focused on compliance and data protection.

Swisstronik is a company headquartered in Zurich, Switzerland that aims to boost blockchain adoption by letting anyone easily build regulatory-compliant, privacy-preserving, scalable (d)Apps on the Swisstronik blockchain platform. Thanks to these properties, Swisstronik-based (d)Apps would take the best of the two worlds – TradFi and DeFi – and cater to a wide range of “real-world” use cases. The Testnet 2.0 launch marks a significant advancement in making this vision a reality.

Introducing Swisstronik Testnet 2.0

Swisstronik Testnet 2.0 offers a simulated environment replicating the functionalities of the mainnet that is yet to come. This testnet serves as a sandbox for blockchain enthusiasts and developers to:

Interact with the Ecosystem: Engage with diverse blockchain features and understand its functionality.

Test Functionalities: Experiment with transactions and other core operations in a controlled setting.

Provide Feedback: Contribute insights and suggestions to refine the platform’s features.

Engage in Social Quests: Participate in interactive challenges and activities on social media.

Key Features and Activities

Swisstronik Testnet 2.0 introduces a structured approach for participants to familiarize themselves with the ecosystem while gaining rewards. Users will be able to solve 2 types of tasks:

Main Tasks: Essential activities such as completing transactions and downloading the wallet. Tasks vary in complexity and duration, providing a comprehensive introduction to the Swisstronik ecosystem.

Achievement Tasks: Additional tasks that allow participants to unlock unique NFTs and boost their Activity Points multiplier. Testnet 2.0 features eight achievements, each enhancing the user’s engagement and rewards.

Upon successful completion of tasks, users will receive Activity Points (APs) based on the complexity of the task. The accumulation of APs contributes to the overall reward.

Incentives and Rewards

As participants of Swisstronik Testnet 2.0 solve tasks, they will accumulate Activity Points that reflect their involvement and contributions. These APs can be converted to SWTR tokens upon the mainnet’s launch tentatively on September 17, 2024. This incentive structure not only rewards active participants but also fosters a collaborative environment aimed at fine-tuning the platform.

Join the Swisstronik Revolution

Swisstronik Testnet 2.0 is a gateway for blockchain enthusiasts to play a pivotal role in shaping a blockchain future. By participating in this campaign, users will explore Swisstronik’s capabilities and contribute to building a resilient blockchain ecosystem focused on compliance and data protection.

Join Now: https://swisstronik.com/testnet2

About Swisstronik

Swisstronik is a modular blockchain platform which lets Web3.0 and traditional companies build KYC, AML and DPR-compliant applications with enhanced data protection. The platform provides a comprehensive ecosystem designed to integrate TradFi and DeFi seamlessly, offering a decentralized yet compliant solution. Swisstronik is an official partner of leading projects such as Polygon ID, zkPass, SecretNetwork, Hyperlane, Worldcoin, eFuse, Integritee, Crystal, Rarimo, Immunefi, HackenProof, and others, which enhances its capabilities and broadens its impact.More about Swisstronik:

Website: www.swisstronik.com

Social Media:

Twitter/X 

LinkedIn 

Discord 

For further information or media inquiries, please contact: 

Constantin Guggi – CEO, Co-Founder

constantin@swisstronik.com

Zug, Switzerland

Disclaimer: TheNewsCrypto does not endorse any content on this page. The content depicted in this press release does not represent any investment advice. TheNewsCrypto recommend our readers to make decisions based on their own research. TheNewsCrypto is not accountable for any damage or loss related to content, products, or services stated in this press release.

The year 2024 kicked off with a bang for the crypto world. Despite recent market fluctuations, Bitcoin reached new all-time highs, and many altcoins are seeing impressive gains. Kaspa (KAS) is capturing investor interest with its promising price predictions, while Dogwifhat (WIF) has surged 40% in just four days, showing remarkable potential.

Meanwhile, BlockDAG is making headlines with its innovative X1 Miner App, advanced mining hardware, and a highly successful presale that has raised $60.1 million till the 20th batch. BlockDAG’s groundbreaking achievements and top crypto miners make it a top choice for crypto enthusiasts.

Kaspa (KAS) Price Prediction and Market Trends

Kaspa (KAS) is noted for its rapid transaction speeds and the innovative GHOSTDAG protocol, which allows for high block rates and scalability while maintaining security. Currently trading around $0.1657 with a market cap of $4 billion, KAS has experienced significant volatility, including a 24-hour decline of 2.14%.

Market demand, technological advancements, and exchange listings drive investors toward new opportunities. The short-term outlook is volatile, but long-term projections remain optimistic as adoption grows, highlighting key points in this Kaspa (KAS) price prediction.

Dogwifhat (WIF) Price Surge: Key Insights and Projections

Dogwifhat (WIF) has surged 40% in the last four days, with analysts predicting a potential 150% rise. Trading at $2.16, WIF has seen increased derivatives volume, reaching $1.94 billion, and significant short liquidations suggest rising bullish interest. However, as a meme coin, WIF is subject to extreme volatility and social media-driven price swings, adding considerable risk.

The coin is 700% above its all-time low of $0.2650 but remains 55% below its all-time high of $4.82. Investors are closely watching key resistance levels at $2.3119, which, if broken, could push the price higher. This analysis highlights Dogwifhat’s current market dynamics and prospects.

BlockDAG’s X Factor: Harness the Power of X1 App

BlockDAG is revolutionising the crypto mining experience with its innovative X1 Miner App. This user-friendly application allows users to mine up to 20 BDAG coins daily and earn rewards through referrals, boosting community engagement with a real-time leaderboard. Complementing this is the X series mining hardware lineup, including the X10, X30, and X100 miners. These models cater to all levels of miners, from beginners to professionals, driving substantial sales of 9.4K units.

The presale’s success is evident, with BlockDAG raising an impressive $60.1 million till Batch 20. The BDAG coin price has soared by 1400% since Batch 1, currently priced at $0.015. This surge reflects immense investor confidence and growing market interest. Moreover, with 12.2 billion BDAG coins sold and the potential for an astonishing 30,000X ROI at launch, BlockDAG is capturing significant attention in the market.

This combination of cutting-edge technology and strategic market positioning highlights BlockDAG’s unique investment potential. BlockDAG is enhancing its value and credibility in the crypto market by offering top-tier crypto miners and innovative solutions. Investors monitor this project, expecting it to establish industry benchmarks and yield substantial financial returns.

Summing Up

While Kaspa (KAS) shows promise with its innovative features and Dogwifhat (WIF) impresses with its recent surge, BlockDAG truly shines. The X1 Miner App, alongside the powerful X10, X30, and X100 miners, underscores BlockDAG’s commitment to revolutionizing crypto mining. With a successful $60.1 million presale and a projected 30,000X ROI, BlockDAG is attracting significant attention. This robust community engagement and impressive growth make BlockDAG a standout choice for investors seeking substantial returns.

Join BlockDAG Presale Now:

Website: https://blockdag.network

Presale: https://purchase.blockdag.network

Telegram: https://t.me/blockDAGnetworkOfficial

Discord: https://discord.gg/Q7BxghMVyu

Disclaimer: TheNewsCrypto does not endorse any content on this page. The content depicted in this Press Release does not represent any investment advice. TheNewsCrypto recommends our readers to make decisions based on their own research. TheNewsCrypto is not accountable for any damage or loss related to content, products, or services stated in this Press Release.

Imagine mining cryptocurrency directly from your phone. That’s the game-changing reality of BlockDAG’s new X1 Miner App. This innovative app is revolutionizing crypto mining for the global community.

Released two months ahead of schedule, it has propelled BlockDAG‘s presale to an astonishing $60 million, marking a 1400% value surge since the first batch. Meanwhile, Uniswap holders face challenges as UNI’s price stalls at $7.911 amid declining trading volumes and market volatility. In contrast, Kaspa’s recent listing on OKX has fueled optimism, with analysts predicting a potential breakout past its all-time high of $0.052.

Uniswap Investors Face Lingering Uncertainty

Uniswap (UNI) investors might have to be patient for a substantial rally to $16. Despite an 11% increase in market cap, trading volume has decreased, indicating low liquidity. UNI is currently priced at $7.911, with market volatility and a high concentration of large holders causing instability. The disparity between short and long liquidations suggests uncertain market conditions, meaning Uniswap investors may experience continued volatility and unpredictability before seeing any major price increases.

Kaspa Analysts Predict Bullish Future After OKX Listing

Kaspa (KAS) has attracted significant attention following its recent listing on the OKX exchange. Analysts are optimistic about KAS’s price trajectory, suggesting that this new listing could drive the cryptocurrency past its all-time high of $0.052. This development is expected to provide the necessary liquidity and visibility for KAS to achieve new peaks. With strong market interest and potential catalysts ahead, experts recommend closely monitoring KAS as it approaches this crucial breakout point.

BlockDAG Revolutionizes Crypto Mining with X1 Miner App

BlockDAG is trailblazing the global crypto mining scene with its cutting-edge X1 Miner App, now available on the Apple App Store. Released two months ahead of schedule, this groundbreaking app has significantly propelled BlockDAG’s momentum, driving its presale to an impressive $60 million. The app’s launch highlights BlockDAG’s dedication to advancing crypto mining, resulting in a remarkable 1400% price surge since the first batch.

The X1 Miner App is crafted for seamless integration with BlockDAG’s platform. Users can effortlessly create accounts, verify via OTP, and start generating BDAG coins. The app’s user-friendly interface and real-time notifications keep miners actively engaged. Moreover, users can enhance their mining rate through a distinctive referral system and daily engagement features.

Capable of generating 20 BDAG coins per day, the X1 app allows users to earn 0.83 BDAG coins per hour with minimal battery drain. The app’s referral mechanism boosts earning potential by motivating users to invite others, fostering a community-driven mining initiative. A real-time leaderboard adds a competitive element, inspiring users to maximize their mining efforts.

BlockDAG prioritizes the efficiency of its X-Series miners by employing ASIC technology, celebrated for its superior speed and lower energy consumption. ASIC miners outshine general-purpose hardware like CPUs and GPUs in both speed and energy efficiency, enhancing the overall mining experience. To date, BlockDAG has sold over 9,400 miners, generating more than $3.9 million in revenue.

This innovative approach ensures BlockDAG remains a leader in eco-friendly and efficient crypto mining, making it an appealing choice for both novice and experienced miners alike.

Final Insights

As the BlockDAG X1 Miner App makes waves on the Apple Store, it highlights BlockDAG’s innovative approach in the competitive crypto market. With substantial presale success and advanced mining solutions, BlockDAG is setting the pace in cryptocurrency mining. While Uniswap navigates turbulent waters and Kaspa seizes new growth opportunities, BlockDAG continues to offer a compelling and sustainable investment option in the evolving crypto space.

Join BlockDAG Presale Now:

Website: https://blockdag.network

Presale: https://purchase.blockdag.network

Telegram: https://t.me/blockDAGnetworkOfficial

Discord: https://discord.gg/Q7BxghMVyu

Disclaimer: TheNewsCrypto does not endorse any content on this page. The content depicted in this press release does not represent any investment advice. TheNewsCrypto recommend our readers to make decisions based on their own research. TheNewsCrypto is not accountable for any damage or loss related to content, products, or services stated in this press release.

At the time of writing, SOL is trading at $183.41, up 3.5% in the last 24 hours.

 If the price manages to go above $187 level, then it will likely test $203 resistance level.

On July 22, the price of Solana reached $185, its highest point in the last two months, maintaining its bullish momentum, a climb of more than 3.5% in the previous 24 hours. Investors are becoming excited about the possibility of pro-crypto candidate Donald Trump winning, as the recent gains reflects on Joe Biden’s abrupt exit from the US presidential campaign.

The current uptick in Solana’s price reflects investors’ belief that the Democratic Party, headed by US Vice President Kamala Harris, may have trouble defeating Trump in the upcoming presidential contest.

Eyeing $200 Mark

Investors are curious as to if Solana is targeting the $200 level by tomorrow, when trading for Spot Ethereum ETFs likely begins. At the time of writing, SOL is trading at $183.41, up 3.5% in the last 24 hours as per data from CMC. Moreover, the trading volume is up 33.49%.

If the price manages to go above $187 level, then it will likely climb all the way to test $203 resistance level. However, if the price breaks below $177 level, then it will likely test $171 support level.

Data reveals that other components of the ecosystem are also dominating the market, extending Solana’s (SOL) dominance this cycle beyond just its price.

In earlier bull markets, Ethereum had a stranglehold. The Decentralized Exchange (DEX) volume of Solana, according to DeFiLlama, surpassed that of Ethereum and BNB Chain put together in the last 24 hours.

Even though Ethereum and BNB Chain both have bigger weekly rises, Solana still managed to top the list. Solana had a $2.24 billion DEX volume. Ethereum stands at $1.41 billion, while BNB Chain is $703.19 million.

Recent crypto market movements have seen Solana (SOL) price surge by 13%, driven by predictions of a potential Solana ETF. On the other hand, Dogecoin is capturing attention with forecasts suggesting it might hit $1 by 2029 despite struggling to break past the $0.20 mark recently.

Amid these trends, BlockDAG’s X1 Miner app redefines the crypto mining game by offering innovative mobile mining solution. The X1 Miner allows users to earn up to $1 per day at launch with minimal effort. With over 9499 units of X series miners sold and the presale raising over $60.1 million, BlockDAG is not just another trend among the top bullish cryptos but a leading investment option.

Solana (SOL) Price: Key Insights into Recent 13% Increase

Solana (SOL) has recently experienced a remarkable price increase, pumping over 13% in the past week to trade at $160.94. This surge follows a prediction by Bloomberg ETF analyst Eric Balchunas, who anticipates the launch of Ethereum ETFs leading to a Solana ETF. 

On the technical side, SOL has been forming higher highs and higher lows, creating an ascending channel on the 4-hour chart. This bullish pattern allowed SOL to surpass the resistance level at $157.65. However, falling below $157.65 could see SOL drop to $146.40, especially with bearish signals emerging from MACD and RSI indicators.

Dogecoin Price Forecast: Can it Achieve $0.3751?

Dogecoin (DOGE) is making headlines with its price predictions. Currently priced around $0.20, DOGE faces challenges in breaking past this psychological barrier. Analysts forecast a maximum price of $0.3751 by the end of 2024, with a potential surge to $1 by 2029.

However, Dogecoin’s journey is fraught with volatility, influenced by market trends and external factors like regulatory news or influencer statements. For 2024, if bullish momentum prevails, DOGE could see considerable gains, testing resistance levels at $0.12730 and possibly reaching $0.155. Conversely, bearish trends might push DOGE down to $0.101.

Mining Made Easy! Boost Earnings with BlockDAG’s X1 App

BlockDAG’s X1 Miner app stands out as a groundbreaking innovation in the crypto mining space. Available on Apple store, this 50 MB app allows users to mine up to 20 BDAG coins daily directly from their phones. Investors could potentially earn up to $600 daily with BlockDAG’s X1 Miner app when BDAG coins reach their projected price of $30 by 2030. 

The app’s user-friendly interface and efficient performance ensure that mining activities do not drain the device’s battery. Users can enhance their mining rate by clicking the lightning button every 24 hours, making the app interactive and engaging.

One of the key features of the X1 Miner app is its community-driven approach. Users can boost their earnings significantly by referring new miners. As the referred users actively mine, the original user’s mining rate increases, fostering a collaborative environment. This referral system has been instrumental in driving the app’s popularity, contributing to over 9499 miner sales. Additionally, the app’s leaderboard feature also adds a competitive edge, displaying the top 50 earners in real-time and encouraging more active participation.

Moreover, BlockDAG’s presale has also seen phenomenal success, raising $60.1 million from selling over 12.2 billion BDAG coins and a staggering $3.9 million from the sale of over 9499 miner units. This success highlights investor confidence in BlockDAG’s vision and the potential of its mining technology. The presale’s success, coupled with the X1 miner app’s innovative features, makes BlockDAG a leading entity in the cryptocurrency market.

Final Words

BlockDAG’s X1 Miner app is emerging as a revolutionary tool for mobile mining. With features like efficient battery usage, daily engagement boosts, and a robust referral system, it offers a unique opportunity for users to earn up to $600 daily when BDAG coins price reaches its $30 by 2030 projection. The app’s success is mirrored by contributing in the sale of over 9499 miners and the substantial funds raised during the presale. As Solana and Dogecoin capture market attention with their price movements, BlockDAG’s X1 Miner app presents a compelling investment opportunity. 

Join BlockDAG Presale Now:

Website: https://blockdag.network

Presale: https://purchase.blockdag.network

Telegram: https://t.me/blockDAGnetworkOfficial

Discord: https://discord.gg/Q7BxghMVyu

Disclaimer: TheNewsCrypto does not endorse any content on this page. The content depicted in this Press Release does not represent any investment advice. TheNewsCrypto recommends our readers to make decisions based on their own research. TheNewsCrypto is not accountable for any damage or loss related to content, products, or services stated in this Press Release.

The crypto asset seems to have broken free from the S&P 500 and is creating quite a stir. 

Saylor showed the precise returns of Bitcoin and other conventional markets.

Investors are keeping a careful eye on Bitcoin’s performance as it separates from conventional markets, thanks to its recent price spike. As the United States approaches its forthcoming crypto-focused election, the crypto asset seems to have broken free from the S&P 500 and is creating quite a stir. The recent strong performance of Bitcoin has aroused debates in the market, as pointed out by Michael Saylor of MicroStrategy.

An increasing number of investors are taking notice of Bitcoin after it recently severed ties with the S&P 500. In the past, the cryptocurrency’s price followed the movement of key US indices; however, this pattern has changed recently.

Speculation has been circulating since Wednesday that the Trump administration is mulling about a foreign direct product regulation to limit the shipment of semiconductor equipment to China. The market volatility was triggered by this event and Donald Trump’s comments on Taiwan’s payment for U.S. security.

Leading the Charts

Amid all this, Bitcoin has shown to be quite resilient, benefiting from both ETF inflows and Trump’s remarks on the possibility of utilizing BTC as strategic reserves for the United States.

Founder of MicroStrategy Michael Saylor has praised Bitcoin’s surge since 2020 in a recent graphic he shared on the X platform. He included a chart that showed the precise returns of Bitcoin and other conventional markets from August 10, 2020, the day that MicroStrategy implemented its Bitcoin Strategy, to provide some background.

The research states that since then, Bitcoin has shown gains of 55%, whilst the S&P 500 and Nasdaq have yielded gains of 13% apiece. Contrarily, over the same time period, the price of gold increased by 5% and the price of silver by 2%.

Highlighted Crypto News Today:

Multiple Spot Ethereum ETFs Approved by NYSE Arca, Awaits SEC Nod

NYSE Arca has authorized the registration and listing of Ether ETFs from Bitwise and Grayscale

The last stage, which should be completed by tomorrow, is for the SEC to authorize.

Two Ethereum ETFs, one from Grayscale and one from Bitwise, will be listed and traded on the New York Stock Exchange Arca (NYSE Arca). This approval was formally announced by the exchange. In accordance with SEC filings, NYSE Arca has authorized the registration and listing of Spot Ethereum ETFs. These are from Bitwise and Grayscale in accordance with the Exchange Act of 1934.

This certification is vital because it shows that these financial products have been formally introduced to the market. And that they have been accepted by regulators. These exchange-traded funds (ETFs) exist to allow investors to obtain exposure to Ethereum in a controlled way. Apart from actually owning ETH, so to speak.

Waiting for SEC’s Nod

The SEC’s clearance of 19b-4 forms in May was the first stage in a two-part process that led to the listing. In order to go on with the listing approvals, NYSE Arca needed this first clearance. The last stage, which should be completed by tomorrow, is for the SEC to authorize the registration statements to become effective. This will enable the ETFs to start trading tomorrow.

In a move that mirrors that of NYSE Arca, the Cboe Exchange has likewise announced that trading for its planned spot Ethereum ETFs would commence on July 23.

Moreover, market watchers and experts are optimistic about the SEC’s ultimate clearance. Thanks to the update from Cboe, which has solidified the projected schedule. Companies have been working hard to revise their S-1 forms and update their management fees in anticipation of the expected trading debut.

Highlighted Crypto News Today:

Toncoin Surges with 5360% YoY Increase in Daily Active Addresses

The goal of the SSVDivers Program is to provide community members with resources, direction, and opportunities.

The programs are available to both current and prospective SSV community members.

The SSV Network protocol’s governing organization, SSV Network DAO, has revealed two brand-new community initiatives. SSV community engagement and participation will rise as a result of the SSVDivers Ambassador Program and Community Associates Program, which both provide incentives for participation.

The goal of the SSVDivers Program is to provide community members with resources, direction, and opportunities to demonstrate their abilities by suggesting and overseeing personal projects that are in line with their interests and the goals of the SSV Network. Members will be able to use their varied skills and the power of SSV technology to influence the direction of decentralized staking in the future.

LinkoPlus of SSVdivers:

“It’s an honor to represent and help the SSV community. My personal project involves setting up a node operator on my Rock5b (an affordable single-board computer) to run on the Holesky testnet and writing a guide about that to inspire others to join the Ethereum staking journey. Being part of an organization that lives up to the Ethereum ethos is amazing, and it’s awesome to see how fast SSV is growing!”

Meanwhile, community members will be encouraged to take part in marketing campaigns, produce and localize content, promote SSV, and increase participation within the SSV ecosystem via the Community Associates Program.

Both programs provide a variety of incentive mechanisms, such as community recognition and limited-edition products in addition to rewards. The initiatives, which are slated to continue for at least a year, will provide community members additional avenues for involvement and increase knowledge of SSV technology and its potential to support decentralized staking.

At a special community call in the SSV Discord, the launch of the two programs and the 1M ETH staked milestone will be celebrated. During the call, there will also be a 500XP raffle for the community ambassadors. The programs are available to both current and prospective SSV community members who want to use their current abilities and be rewarded for the content they produce.

Elad Gafni, Operations Manager of the SSV Foundation, said:

“Driving greater adoption of SSV technology isn’t just a task for developers: it calls for participation of the entire community, whose skills are instrumental in raising awareness of the many ways in which DVT modules can be used to enhance the ETH staking landscape. The SSVDivers Ambassador Program and Community Associates Program provide a practical way for the community to get directly involved and reap the rewards and recognition their hard work warrants. In the process, they’ll help to create the content and other valuable resources that will make it easier for builders to create novel applications based upon SSV’s open source protocol.”

DVT-powered staking and restaking apps may be built by developers thanks to SSV’s distributed validator technology. SSV is an open-sourced, DAO-owned protocol that third-party developers may utilize for free to build apps that bolster the Ethereum and its L2 network staking ecosystem.

More than 32,000 ETH validators are now being secured by more than 720 decentralized node operators on the SSV Network. There are now 41 SSV-based services and applications in development, ranging from Restaking to Tooling.

A layer that allows ETH validator nodes to be geographically spread over many machines with various components is provided by SSV’s DVT infrastructure. SSV recently commemorated the staking of one million Ethereum and added SSV nodes to the Lido Simple DVT module.

The digital marketplace is in constant flux, intensifying each moment! Brett’s forecast is grim, with persistent bearish trends. In contrast, Bitcoin Rune’s market valuation has recovered, reaching $500 million.

MOONHOP stands out as the top long-term meme coin, excelling in price performance, community engagement, and stringent security measures. This adorable bunny garnered close to $1 million shortly after initiating its presale, offering a staggering 4900% ROI for early investors. Best of all, MOONHOP’s community, affectionately known as the Fluffle, welcomes all levels of crypto enthusiasts!

BRETT Price Forecast: How Long Will the Bears Rule?

The outlook for Brett worsens daily. Its value continues a bearish trajectory within a descending channel, yet Brett seeks a rebound. Challenging the channel’s upper limit, a bull breakout could be near.

The signals urge immediate buying with RSI over 50 and MACD above the baseline. If bulls convert resistance into support, Brett could surge past $0.1703 and possibly breach $0.2000. Conversely, prices might drop to $0.1322 if resistance persists or lower to $0.1072.

Bitcoin Rune Market Valuation Recovers to $500M

Bitcoin Rune ($DOG), the whimsical Bitcoin blockchain meme coin, has restored its market cap to $500 million as of July 15, 2024, rebounding from a previous low of $410 million on July 12. With over 77,200 holders, $DOG demonstrates significant growth.

Currently reigning as the prime memecoin on Bitcoin, its community aims for worldwide acclaim. This resurgence underscores $DOG’s robust market presence and potential, proving resilience even in a fluctuating market.

MOONHOP’s Fluffle Gains Momentum: Nearly $1M Collected in One Day

Three aspects of the best long-term meme coin are crucial: price stability, stringent security, and an inclusive community. MOONHOP excels in all these areas. Known as The Fluffle, MOONHOP’s community embodies cohesion, mutual support, and consistent growth.

Whether you are an experienced investor or a crypto newbie, The Fluffle has a spot for you. Its community’s shared vision of soaring to new economic peaks is paramount. Moreover, MOONHOP ensures top-tier security by collaborating with Coinsult to achieve a flawless security audit. Thus, every investment within this community is thoroughly safeguarded.

MOONHOP’s presale has swiftly gained momentum. Launching its presale, it quickly amassed nearly a million dollars. Priced at $0.01 during stage 1, MOONHOP’s value is predicted to soar to $0.50 by launch, providing a mouth-watering ROI!

The presale structure ensures a price increase through each of the 50 stages, regardless of market volatility. Early adopters who secured MHOP tokens in stage 1 are poised for a 4900% ROI at launch.

Last Laugh

To encapsulate, Brett’s price may fluctuate between a rise to $0.1703 and a decline to $0.1322. Meanwhile, Bitcoin Rune’s market situation looks brighter, especially after reclaiming its $500 million status.

Yet, for long-term investment prospects, MOONHOP is the standout choice. Having swiftly raised nearly a million dollars in a day, this bunny is prepped for significant future achievements. The Fluffle invites all, offering a massive 4900% ROI for those who joined early in stage 1.

Join Moonhop Presale Now:

Website: Moonhop.io

Presale: https://moonhop.io/buy

Twitter: https://twitter.com/Moonhopcoin

Telegram: https://t.me/moonhopcoin

Disclaimer: TheNewsCrypto does not endorse any content on this page. The content depicted in this press release does not represent any investment advice. TheNewsCrypto recommend our readers to make decisions based on their own research. TheNewsCrypto is not accountable for any damage or loss related to content, products, or services stated in this press release.

As of July 15, the number of TON daily active addresses reached 373K.

Statistics showed that more than 50% of ecosystem initiatives use Telegram as their bot.

Recently, Toncoin—the native token of the TON (The Open Network) made a huge leap forward. The statistics revealed by ‘The Block Pro’ today indicates that the number of daily active addresses on the network increased by an astounding 5360% year-over-year this month.

In addition, analytics, gaming (P2E), and investments are among the most popular ecosystem categories, demonstrating variety that is well-received by the community. Data found more than 200 projects in eight distinct areas of the layer-1 blockchain, increasing the product’s attractiveness to users.

Substantial Growth

This data has generated a lot of hope for TON and its ecosystem. Which is great news since it shows that adoption is growing all across the world. The data provided by “The Block Pro” shows that as of July 15, the number of TON daily active addresses reached 373K. This is an increase of 5360% over the previous year. This sent off a wave of positive market sentiment toward the Toncoin ecosystem and pointed to rising use and network size.

At the same time, statistics showed that more than 50% of ecosystem initiatives use Telegram as their bot. Pavel Durov is at the helm of the two organizations, and this highlights the close relationship between them.

Moreover, the Open Network, meantime, has been busy with a slew of new innovations recently. The layer 1 blockchain today announced its strategic alliance with Animoca Brands’ Mocaverse & MOCA Foundation, which is noteworthy given the increasing usage of TON. Global players in the cryptocurrency sector have expressed hope in response to the Toncoin debacle.

Highlighted Crypto News Today:

Crypto Investment Products Witnesses $1.35B Inflows Amid Positive Sentiment

BlockDAG has rolled out significant enhancements in its latest Dev Release 76, which includes updates aimed at improving the user experience and enhancing security. As the presale for Batch 20 continues with the price of BDAG jumping from $0.001 to $0.015—a staggering 1400% increase—BlockDAG remains a focal point for investors worldwide. The network is also nearing the conclusion of an exciting $2 million giveaway, which closes in just 25 days. This update demonstrates BlockDAG’s commitment to pushing the frontiers of blockchain technology while rewarding its dedicated community.

BlockDAG: Leading the Global Blockchain Scene with New Perks

BlockDAG Network (BDAG), utilizing a Proof of Work consensus mechanism, stands as a premier Layer 1 blockchain globally. It boasts a unique Directed Acyclic Graph (DAG) architecture that increases scalability and concurrency, allowing for simultaneous block processing with zero waste. Known for its high-speed transactions, robust security, and decentralized governance, BlockDAG perfectly marries efficiency with democratic control.

Moreover, BlockDAG has captivated the crypto community with its ongoing $2 million grand giveaway. This exciting event offers 50 community members a chance to win significant cash prizes. Participants are required to engage with BlockDAG on social media, submit their wallet addresses, complete various tasks, and invite friends to increase their chances. The winners, chosen randomly, will be announced across BlockDAG’s platforms, adding a layer of excitement for all involved.

Acquiring BDAG coins is straightforward during the presale phase. Interested buyers can visit BlockDAG’s official website, register an account, pass the KYC verification, select their payment method, purchase the coins, and securely store them in a compatible wallet.

The presale itself has been a resounding success, with the BDAG price skyrocketing from $0.001 in Batch 1 to $0.015 in Batch 20, showing a phenomenal 1400% growth. To date, BlockDAG has amassed $60 million from over 12.2 billion BDAG coins in circulation and an additional $3.9 million from selling more than 9,417 miners. Furthermore, an exciting team reveal event is set for July 29, enhancing community engagement.

Dev Release 76 Spotlights Key Blockchain Explorer Enhancements

Dev Release 76 reveals considerable progress in developing BlockDAG’s blockchain explorer, now in the testing phase. The team is dedicated to refining the design and enhancing the stability of the explorer. Although the devnet environment remains unstable, it’s crucial to test these improvements. By mid-August, BlockDAG plans to launch the testnet version of its blockchain and explorer, marking a significant step in the project’s development.

The upcoming updates aim to offer users a richer, more intuitive experience by adding functionalities that improve usability and security. For instance, new features will help verify real user accounts by detecting virtual numbers, ensuring only those with non-VoIP phone numbers and unique devices can participate, thus bolstering system security and integrity.

Looking forward, BlockDAG’s main focus is to ensure all new features and updates undergo thorough testing and optimization to deliver peak performance. The team values the community’s patience and input, actively encouraging feedback to help shape the network’s future.

Final Call

Dev Release 76 of BlockDAG highlights the network’s unwavering commitment to advancing blockchain technology while ensuring a secure, user-friendly environment. With substantial updates to the blockchain explorer and a comprehensive security strategy, BlockDAG continues to redefine industry standards. The excitement of the impending $2 million giveaway, concluding in just 25 days, not only fosters innovation but also rewards the vibrant BlockDAG community. As the presale progresses through its phases, achieving a remarkable 1400% growth, BlockDAG’s prospects appear brighter than ever. Now is an opportune moment to get involved with BlockDAG, explore its latest developments, and partake in the thrilling giveaway.

Join BlockDAG Presale Now:

Website: https://blockdag.network

Presale: https://purchase.blockdag.network

Telegram: https://t.me/blockDAGnetworkOfficial

Discord: https://discord.gg/Q7BxghMVyu

Disclaimer: TheNewsCrypto does not endorse any content on this page. The content depicted in this Press Release does not represent any investment advice. TheNewsCrypto recommends our readers to make decisions based on their own research. TheNewsCrypto is not accountable for any damage or loss related to content, products, or services stated in this Press Release.

The crypto market is currently in a state of calm, with investors eyeing the possibility of a bull run soon. Altcoins are still at entry points that present attractive opportunities, but their prices are starting to climb. This growth hints at a potential explosion in value at any moment. Amidst this backdrop, there is growing speculation about Donald Trump’s crypto plans following Joe Biden’s exit. Could his actions trigger the much-anticipated bull run? The intrigue lies in identifying which altcoins are poised for significant growth. This article will uncover the top altcoins to consider now, offering insights into how the market may evolve with potential political shifts.

CYBRO Presale Exceeds $1.3 Million: A One-in-a-Million Next GEN DeFi Investment Opportunity

CYBRO is capturing the attention of crypto whales as its exclusive token presale quickly surges above $1.3 million. This next-generation DeFi platform offers investors unparalleled opportunities to maximize their earnings in any market condition.

Experts predict a potential ROI of 1200%, with CYBRO tokens available at a presale price of just $0.03 each. This rare, technologically advanced project has already attracted prominent crypto whales and influencers, indicating strong confidence and interest.

Holders of CYBRO tokens will enjoy lucrative staking rewards, exclusive airdrops, cashback on purchases, reduced trading and lending fees, and a robust insurance program within the platform.

With only 21% of the total tokens available for this presale and approximately 64 million already sold, this is a golden opportunity for savvy investors to secure a stake in a project that’s truly one in a million.

>>>Join CYBRO and aim for future returns up to 1200%<<<

Ethereum Bulls Recharging for a Potential Rally

Ethereum’s current price floats between $3333 and $3644.33. Although there’s a bit of a struggle, the bulls show signs of strength, with a 7.6% increase over the past week. The nearest resistance level is around $3751.33. If Ethereum breaks past this, it could aim for $4061.74, potentially rising around 12%. Support sits at $3130.51, providing a safety net. The six-month price change of over 55% suggests strong long-term growth potential. The RSI of 46.67 and the Stochastic at 25.12 indicate it’s not overbought, leaving room for upward movement. If bullish momentum builds, Ethereum could reach new highs in the near future.

Solana Eyeing Big Gains: Are Bulls Ready to Charge?

Solana (SOL) is moving confidently between $159.43 and $197.36, showing bullish potential. With its current price increase in the past week and month, the bullish momentum appears strong. The next resistance level at $210.22 could be a key target. If surpassed, Solana might aim for $248.15, indicating a robust growth opportunity. The 10-day moving average of $179.92 suggests a short-term uptrend, while the 6-month price surge of over 112% hints at significant long-term potential. If SOL overcomes resistance, it could see rises of nearly 25%. Current indicators like the RSI at 53.33 show room for growth, while a higher MACD level supports this bullish outlook.

Avalanche (AVAX) Shows Steady Gains with Promising Growth Potential

Avalanche (AVAX) is showing strong signs of a bull run. Currently trading between $28.31 and $35.01, it has seen price growth of over 22% in the last week alone. With the nearest resistance at $37.37 and the next at $44.08, AVAX could rise by more than 25% if it breaks through these levels. The support at $23.95 and the next at $17.24 suggest a strong safety cushion. The RSI of 61.58 indicates moderate buying pressure, while a MACD level above zero reaffirms bullish momentum. If this trend continues, AVAX might outperform and attract more investors during this altcoin season.

Polkadot (DOT) Holds Promise for a Bullish Surge Amid Mixed Signals

Polkadot (DOT) has been holding steady in the $6.10-$6.66 range, showing a promising resilience despite recent market hiccups. The bulls are not out of this race yet. With the nearest resistance at $6.88, a breakthrough could spark a climb to the next resistance at $7.44. Over the past month, DOT has seen almost a 12% rise. The Relative Strength Index (RSI) at 45.71 and Stochastic at 20.37 may indicate some overselling, hinting at potential for growth. If DOT breaches $6.88, it could rise by around 10-12%, setting sights on stronger resistance levels. This mirrors patterns from 2021, suggesting that a rebound is not far off.

Conclusion

ETH, SOL, AVAX, and DOT have seen less potential in the short term. However, CYBRO, a cutting-edge DeFi platform, presents unique opportunities. It utilizes AI-powered yield aggregation on the Blast blockchain. Investors benefit from lucrative staking rewards, exclusive airdrops, and cashback on purchases. CYBRO offers a seamless user experience with easy deposits and withdrawals. Highlighting transparency, compliance, and quality, CYBRO attracts significant interest from crypto whales and influencers. It stands out as a promising project in the evolving crypto space.

Site: https://cybro.io

Twitter: https://twitter.com/Cybro_io

Discord: https://discord.gg/xFMGDQPhrB

Telegram: https://t.me/cybro_io

Disclaimer: TheNewsCrypto does not endorse any content on this page. The content depicted in this press release does not represent any investment advice. TheNewsCrypto recommend our readers to make decisions based on their own research. TheNewsCrypto is not accountable for any damage or loss related to content, products, or services stated in this press release.

George Town, Cayman Islands, July 22nd, 2024, Chainwire

Zircuit, a fully EVM-compatible ZK rollup with AI-enabled sequencer level security, today announced it raised a Mainnet funding round with participation from Binance Labs, Mirana Ventures, Amber Group, Selini, Robot Ventures, Nomad Capital, Borderless Capital, and prominent angel investors including the founders of Renzo, Etherfi, Pendle, Parallel, LayerZero, Axelar, F2Pool, Nonce, KelpDAO, ETHGlobal, Maelstrom, and more. With this new funding, Zircuit will be able to supercharge ecosystem growth and activity on its network, building upon a strong technical foundation and over $2.9 billion in staked assets. 

Since 2022, the Zircuit team has built a new L2 network that introduces a revolutionary new approach to onchain security. Zircuit protects dApps and their users from blockchain vulnerabilities through its novel infrastructure that is armored by sequencer-level security and built-in, automated AI techniques to guard against smart contract exploits and malicious actors. The network’s hybrid architecture also results in a fast, low-cost, and fully EVM-compatible ZK rollup, offering unparalleled security for users without compromising speed or compatibility.

Bolstered by its strong security infrastructure, Zircuit plans to become a central hub for restaked assets that features unparalleled security and allows users to earn industry-leading yields natively. The landscape of liquid restaking is still nascent and rapidly evolving and new LRT protocols are constantly emerging, making it challenging for even experienced users to track and choose the best and the safest protocols for deploying their capital. Zircuit aims to address this problem by becoming a major liquidity hub for restaked assets (ETH, BTC, LSTs, and LRTs) where users can easily allocate their capital and have peace of mind knowing that funds are deployed to the safest and highest quality protocols.

“At Binance Labs, we support projects that are innovating in Web3 and accelerating the blockchain industry. Through its integration of sequencer level security, Zircuit is providing a more secure L2 solution and we look forward to watching it grow and develop further,” said Yi He, Co-Founder of Binance and Head of Binance Labs.

“Security has been a persistent issue in the crypto space, with breaches occurring almost daily. Zircuit, founded by top security veterans, leads the industry with its best-in-class security architecture. The team’s clear growth strategy has led to explosive growth in assets locked since launch,” said Erick Zhang, Managing Partner of Nomad Capital. “We are excited to support and continue working with the Zircuit team.”

“As the web3 space accelerates toward mainstream adoption, Zircuit will empower this growth by providing the necessary infrastructure to onboard the masses. Our years of research into rollups and blockchain security have allowed us to build an L2 network with unparalleled security and scalability. We’re proud to have the support of Binance Labs, Mirana Ventures, and our other investors as we approach our first phase of Mainnet and establish Zircuit as a cornerstone in the industry,” stated Martin Derka, co-founder of Zircuit.

Zircuit’s Mainnet Phase 1 is set to launch in the coming weeks.

To learn more about Zircuit, users can visit zircuit.com or read the developer docs at docs.zircuit.com 

To participate in Build to Earn, users can visit: https://build.zircuit.com/ 

To participate in Zircuit Staking, users can visit: https://stake.zircuit.com/ 

About Zircuit 

Zircuit is a ZK rollup with AI-enabled sequencer-level security and parallelized circuits. Built by a team of web3 security veterans and PhDs in computer science, algorithms, and cryptography, Zircuit’s unique architecture combines the best of both worlds of performance and security. To learn more visit zircuit.com or follow us on Twitter/X @ZircuitL2

Contact

JessicaZircuitjessica@zircuit.com

If the price manages to climb above $0.45 level, then it will likely test $0.50 level.

At the time of writing, ADA is trading at $0.4307, down 0.46% in the last 24 hours.

Charles Hoskinson, co-founder of Cardano, has proposed a new name—Tasseled Wobblegong—for individuals who have been finding it difficult to remember the names of the several hard forks that have occurred on the Cardano network.

It lives on coral reefs and is a kind of carpet shark. These sharks are renowned for their ability to lay in wait for their prey to pass by, earning them the title of greatest ambush predators.

The Cardano (ADA) token is showing signs of strength on the weekly and monthly charts. Experts in the cryptocurrency market are pointing out some technical signs that might indicate a price increase. Traders and investors must pay close attention to these developments since they occur at a period of change in the cryptocurrency market as a whole.

Bullish Momentum Anticipated

Prior to its latest bullish breakthrough, Cardano (ADA) was trading within a falling wedge formation. The occurrence hinted of a 70% surge for the token, but there are many obstacles that the bulls will have to overcome.

There was a positive pattern to the price movement on the daily chart. Strong rising momentum was noticed by the RSI, while the CMF reported a substantial money influx into the market. However, the price has been consolidating for quite some time now.

At the time of writing, ADA is trading at $0.4307, down 0.46% in the last 24 hours as per data from CMC. Moreover, the trading volume is up 120.54%. If the price manages to climb above $0.45 level, then it will likely test $0.50 resistance level. However, if the price falls below $0.42 level, then it will likely test $0.37 support level.

The run increases the total net inflows since July 1st to $3.2 billion.

The trading volumes of exchange-traded products also saw a significant surge, rising 45%.

According to the most recent data from CoinShares, global crypto investment products at asset managers saw net inflows of $1.35 billion last week, marking the third consecutive week of positive activity.

As optimistic sentiment persists, the run increases the total net inflows since July 1st to $3.2 billion, according to CoinShares Head of Research James Butterfill. The trading volumes of exchange-traded products also saw a significant surge, rising 45% from the previous week to $12.9 billion. This accounts for 22% of the total crypto market volumes.

Investors Optimistic

As expected, investment products based on Bitcoin attracted $1.27 billion in net inflows worldwide, while short-Bitcoin ETPs lost $1.9 million. According to Butterfill, this signifies “enduring positive sentiment since the April halving event.” And takes the net outflow of short Bitcoin to $44 million since March.

Almost $1.2 billion in net inflows were recorded last week by U.S. spot Bitcoin exchange-traded funds; the number for Friday’s inflow for Ark Invest’s ARKB ETF is still pending. At the time of writing, Bitcoin is trading at $67,015 as per data from CMC.

As an extra bonus, Butterfill said that Ethereum’s situation seems to have improved. With an additional $45 million in net inflows last week, Ethereum funds have now amassed $103 million, more than Solana’s $71 million, making it the altcoin-based investment product with the highest net inflows year-to-date.

On May 23, eight 19b-4 forms for spot Ethereum were authorized by the SEC. Having said that, trading cannot commence until the issuers’ S-1 registration statements become effective, which is expected to occur on Tuesday.

Highlighted Crypto News Today:

Will Bitcoin Hit New Highs Amid U.S. Political Rundown?

Bitcoin price rallied to $68K in the last 24 hours. 

BTC market sentiment enters the greed zone, as the fear and greed index stays at 70.

This week began on a bullish note, as Bitcoin (BTC) price maintained its price momentum above $65K. In the past 24 hours, the largest crypto went over $68K, with a spike of 0.52%. Notably, this optimistic momentum comes along with the happenings within the US political scene.

The unexpected announcement of Joe Biden’s withdrawal from the election could redefine the electoral pattern and have considerable repercussions on the crypto market, particularly on Bitcoin. Following that, a slight price change was found in BTC price action. The asset stabilized at around $67K after trading within the $62K-$66K range last week. 

In addition, Gary Gensler, chairperson of the US SEC, will likely resign in early 2025 after Biden‘s term ends. The SEC Chair’s term officially ends in June 2026, but political dynamics could hasten his departure. 

Furthermore, the crypto community highly speculates Tesla CEO Elon Musk’s Laser Eyes on his X profile amid Biden’s drop-out from the US Presidential race 2024. This suggests that Musk expressed his support for Republican candidate Donald Trump, known for his pro-crypto stance. Generally, laser eyes are seen as a favorable sign to highlight one’s support for Bitcoin within the crypto community. On the other hand, there is another speculation that has raised — Elon Musk is joining The Bitcoin Conference 2024, with Trump. Will Bitcoin price hit $70K amidst the crypto-linked U.S. political prospect? 

Will the BTC Bears Stay Reserved? 

The monthly low was observed at $53,905, and gradually the asset picked up a bullish momentum, resulting in an increase of 4.75%. In the weekly timeframe, BTC saw a spike of 7.31%. At press time, Bitcoin traded at $67,219, and the daily trading volume has soared by 67.38% and stood at $30.18 billion, according to CMC data. 

Meanwhile, the BTC Fear and Greed Index stays at 70, suggesting greed in the market. By evaluating the BTC price chart, the daily relative strength index (RSI), which stands at 66.48, hints that the asset is approaching the overbought zone. The short-term 9-day and 21-day moving averages are noted at $65,282 and $61,185 respectively, indicating a slight bullish rally. 

BTC Price Chart (Source: TradingView)

If the BTC price sustained in the bullish momentum, the initial resistance will be $67,782. The next subsequent resistance may be found at $68,513. On the other hand, if the bulls couldn’t break the initial resistance, the price might drop to a support level of $66,424. Furthermore, if bears overpowers, the price may drop and lead the price to the $65,905 range.

Highlighted Crypto News

HKX Withdraws Licensing Application in Hong Kong, Announces Closure