Cryptocurrency

Bybit, one of the world’s top three crypto exchanges by volume, is proud to announce its recognition as the Crypto Exchange of the Year at the Next Block Expo (NBX), one of the biggest Web3 events in Europe. This prestigious award signifies Bybit’s unwavering commitment to innovation, security, and user experience in the dynamic crypto landscape.“Bybit’s recognition as Crypto Exchange of the Year is a testament to their exemplary leadership and innovation in the cryptocurrency space,” said Dawid Kustra, CEO & Co-Founder at Next Block Expo. “Their dedication to security, user experience, and regulatory compliance sets a high standard for the industry. We are thrilled to celebrate their achievements and look forward to witnessing their continued contributions to the Web3 ecosystem.”“Earning this recognition at NBX is a tremendous honor,” said Joan Han, Sales & Marketing Director of Bybit. “It serves as a powerful testament to the trust placed in us by our valued users and the over 30 million strong Bybit community worldwide. Your continued support fuels our passion to innovate and shape the future of crypto.”This recognition arrives at a pivotal moment for Bybit. The company recently surpassed a significant milestone, reaching 30 million registered users globally. Additionally, Bybit has further solidified its commitment to international expansion with the establishment of a new office in the Netherlands. This expansion demonstrates Bybit’s dedication to providing localized services and support, fostering trust and transparency for crypto users worldwide.Bybit: Bridging the Gap to Web3Bybit goes beyond user growth and geographical expansion. Bybit is constantly innovating to bridge the gap between Web2 and Web3, making the exciting world of Web3 accessible to all. Its vision for Web3 extends far beyond simply being the Crypto Ark. The company is committed to creating a decentralized ecosystem that’s Simpler, Open, and Equal for all.#Bybit / #TheCryptoArk /#BybitWeb3About BybitBybit is one of the world’s top three cryptocurrency exchanges by volume with 30 million users. Established in 2018. It offers a professional platform where crypto investors and traders can find an ultra-fast matching engine, 24/7 customer service, and multilingual community support. Bybit is a proud partner of Formula One’s reigning Constructors’ and Drivers’ champions: the Oracle (NYSE:ORCL) Red Bull Racing team.For more details about Bybit, please visit Bybit Press. For media inquiries, please contact: media@bybit.comFor more information, please visit: https://www.bybit.comFor updates, please follow: Bybit’s Communities and Social MediaContactAuTonyBybitmedia@bybit.comThis article was originally published on Chainwire More

According to technical analysis, a double top pattern is a bearish signal that is on the verge of finishing on the BTC chart. It appears when an asset reaches its peak, retraces its steps and then reaches its peak once more before beginning to decline. This pattern indicates that there may be a downturn and that the asset may find it difficult to sustain its upward momentum.An analysis of the current Bitcoin chart: In the case of Bitcoin, the price tried to rise after crossing $70,000 but encountered resistance close to $71,900. Bitcoin may finish the double top formation, signaling a possible end to the current rally if it is unable to overcome this resistance and retreats.Relative Strength Index (RSI): A price correction is usually preceded by overbought levels, which are approaching for Bitcoin.Trading volume: The volume has not been particularly high during the recent upward trend, which implies that the buying pressure may be waning.Broader market context: The general sentiment of the market is still largely positive despite these cautionary signals. The increasing acceptance of Bitcoin by the general public and institutions could offset any possible bearish trends.Important levels to keep an eye on: Support at $70,000: Should Bitcoin fall below this mark, it may validate the double top pattern and trigger a downturn. The resistance is at $71,900. A high volume surge over this point could invalidate the bearish pattern and indicate that the upward momentum is still there.The price of XRP has been consolidating recently around the 50 EMA (green line). The market may be waiting to act decisively before making a move, as indicated by this consolidation. If XRP is able to overcome the 50 EMA support, it might proceed to the 100 EMA, which is a crucial resistance level that might dictate its next significant move.The Relative Strength Index is not overbought or oversold at this time, indicating neutrality. This state of neutrality may signal a major move in prices. The volume has exhibited a degree of stability, suggesting that the market is in equilibrium with minimal buying or selling pressure. In either case, a volume spike might indicate a breakout.Key levels to watch: 50 EMA support: This is an important level of support. Bullish momentum may be indicated by a significant rebound from this level. Resistance at 100 EMA: An important resistance level is found at the 100 EMA, or orange line. Victory here might pave the way for increased costs. Long-term moving averages: The 200 EMA, or black line, continues to be a level of long-term resistance. To validate a long-term upward trend, XRP must break above this.The positive outlook for SHIB is supported by a number of technical indicators. As of right now, the Relative Strength Index (RSI) is neither overbought nor oversold. Instead, it is in a neutral zone. This shows that there is still potential for growth without running the immediate risk of a reversal because of overbought circumstances.The market appears to be in equilibrium as the trading volume has remained steady. The impetus required for SHIB to overcome significant resistance levels may be a spike in volume.A crucial level of support for SHIB is at 50 EMA. As we are seeing right now, a significant recovery from this level frequently denotes bullish momentum.Resistance at $0.000027: There has been a lot of resistance at this level. Breakouts above $0.000027 may allow SHIB to rise to all-time highs. It will also be crucial to keep an eye on the 200 and 100 EMAs. A break above these long-term resistance levels would confirm SHIB’s bullish trend.This article was originally published on U.Today More

This article was originally published on U.Today More

(Reuters) – The timing for when exchange-traded funds (ETFs) tied to the cryptocurrency ether can begin trading depends largely on how quickly issuers respond to the U.S. Securities and Exchange Commission’s queries, Chair Gary Gensler said on Wednesday. The SEC last month approved applications from Nasdaq, CBOE and NYSE to list spot ether ETFs. It was a surprise win for the cryptocurrency industry which had expected the SEC to reject the filings after discouraging meetings with the regulator. The SEC still has to approve the ETF issuers’ registration statements detailing investor disclosures before they can start trading. That process usually involves a lot of back and forth between the ETF issuers and SEC officials. “These registrants are self-motivated to be responsive to the comments they get, but it’s really up to them how responsive they are,” he said. Gensler declined to say whether he thought that process would take weeks or months.Gensler and agency officials had not commented previously on why the SEC appeared to do a U-turn and approve the ether exchange filings. On Wednesday, Gensler said last year’s court challenge brought by Grayscale Investments which forced the SEC to approve spot bitcoin ETFs in January had influenced its thinking on the ether products. Grayscale successfully argued that because the SEC previously approved ETFs tied to bitcoin futures it should also approve spot bitcoin ETFs, since bitcoin futures prices are highly correlated with spot prices. Gensler said the cases are similar, since ethereum futures have been trading since last year. SEC staff “looked at these (ether) filings, looked at the various correlations… the correlations are relatively similar to the correlations in the bitcoin space,” Gensler said. After the court ruled last year in Grayscale’s favor, the SEC approved spot bitcoin ETFs in January. Gensler in a statement at the time acknowledged the court’s decision, adding he felt that approving the products was “the most sustainable path forward.”The SEC had for a decade rejected bitcoin ETFs. “Courts ruled otherwise. We adjusted,” Gensler said.Still, he added he continues to see the crypto space as “rife with fraud and scams and conflicts.” More

He stated that ultimately Ethereum will crash to zero against BTC.This time, however, the rigorous Bitcoiner strengthened his BTC advocacy against ETH with several key reasons why he believes ETH is “heading to zero against Bitcoin.”Keiser stated that Ethereum is not a commodity (like Bitcoin is), and it does not run on the proof-of-work algorithm as Bitcoin does, and which ensures its decentralized aspects. Keiser also revealed that in El Salvador, where he currently lives and works as Bitcoin adviser to president Nayib Bukele, Ethereum, along with all other altcoins, is classified as an unregistered security.Bitcoin was classified by the SEC as a commodity due to its decentralized nature, as was Ethereum later. However, recently, debates are again increasing on this subject, and it is unclear whether ETH will keep its beneficial status as a commodity.Recently, the SEC regulator gave preliminary approval of spot Ethereum ETFs, but to achieve this, issuers had to remove the staking option from their filings. This is because, recently, the SEC filed legal charges against U.S. exchanges Coinbase (NASDAQ:COIN) and Kraken for their staking offerings to clients, and ETH was included on that list among other altcoins.@vaneck_us tweeted that they have increased their ETH price target to $22,000 by 2030. This decision was influenced by the news of the approval of spot Ethereum ETFs, the progress that Ethereum developers have been making with scaling the blockchain and also based on VanEck’s reading of on-chain data.Samson Mow, finding that highly unlikely, reacted just with one word: “LMAO.”This article was originally published on U.Today More

The transfer history of this address reveals multiple transfers between unknown addresses over recent months. It may be suggested that such large transfers could signal that some major player is preparing to sell assets, as moving a major amount of Bitcoin to a highly liquid platform like Coinbase is often a precursor to sales.Despite the magnitude of this transfer, the price of the cryptocurrency has remained stable, continuing to trade above $71,000. This price level is just 3.8% below BTC’s all-time high, reflecting market confidence and that interest from both institutional and retail investors is indeed present.Meanwhile, Bloomberg reports that the short-term, 30-day correlation between Bitcoin and the Nasdaq 100 Index of U.S. technology stocks is around the highest since early 2023. This suggests that further gains in the equity gauge may be accompanied by a move higher in the crypto market leader.Mike Novogratz, the chief executive officer of Galaxy Digital, mentioned on Bloomberg Television that a more positive U.S. political environment for digital assets will likely help propel the Bitcoin price to a record $100,000 or even higher by the end of the year.This article was originally published on U.Today More

Inflation protection is one of the main uses for Bitcoin. Inflationary pressures may intensify as the Fed lowers rates in an effort to boost the economy.Decentralized finance (DeFi) is becoming more and more popular as traditional financial systems become more stressed. Increased speculative investment is frequently the result of market instability. Due to its history of sharp price fluctuations, Bitcoin draws traders and investors hoping to make quick money or simply gain more exposure to volatility.This article was originally published on U.Today More

The price forecast represents an exponential increase from Ethereum’s current level of $3,850 U.S. per digital token.VanEck, which has applied to launch a spot Ethereum exchange-traded fund (ETF) in America, has also forecast that Ether funds could be bigger than Bitcoin ETFs in coming years.“Ethereum is disrupting the finance, banking, payments, marketing, advertising, social, gaming, infrastructure and artificial intelligence sectors,” wrote VanEck in a note to clients.VanEck stresses that its price prediction for Ethereum is based on institutional investors allocating significant amounts of capital to spot Ether ETFs.However, VanEck also notes that Ethereum has an advantage over Bitcoin (CRYPTO: BTC) because it offers lower costs, increased efficiency, and greater transparency.The analysts at VanEck said that free cash flows from revenue derived by holding Ethereum are set to reach $66 billion U.S. by 2030, potentially driving Ethereum’s valuation higher.The price of Ethereum is up 63% year-to-date and has doubled over the past 12 months.This content was originally published by Yolowire.com More