Cryptocurrency

After Bitcoin was quickly rejected at the $70,000 level in transactions at the beginning of the week, there were moves towards the $67,000 limit. Some market commentators emphasized the decline in momentum in the Bitcoin market, warning that its negative momentum could continue towards $65,000. However, Bitcoin maintaining the $67,000 range throughout the week made optimistic investors hopeful about the rise. As a result, there is an unstable outlook in the crypto market ahead of important inflation data.If the data to be announced today and tomorrow in the USA deviate from expectations, volatile transactions are expected to increase in risky asset markets.While unemployment applications and growth data in the USA today have the potential to increase volatility in the markets, the Personal Consumption Expenditures Price Index, which will be announced tomorrow, is seen as more important as inflation data closely followed by the Fed.Accordingly, it is estimated that consumer sentiment is higher than expected, which may put pressure on cryptocurrencies along with risky markets.While pessimistic comments about the crypto market predominated, the report of Blockchain analysis company Glassnode suggested that there were signs of a recovery in Bitcoin buyer interest. The report noted that long-term investors started saving again for the first time since December last year.While the overall outlook for the rest of the market remains negative, meme coins appear to be leading the decline in the top 100 cryptocurrencies. According to the latest situation, BONK, FLOKI, WIF, BOME and PEPE were the altcoins that fell the most in the last 24 hours.While NOTE, one of the market’s new crypto assets, differentiates itself positively from the market with a value increase exceeding 35%, there is no cryptocurrency in the top 100 that has recorded a value increase of more than 5% in the last 24 hours. More

PEPE’s impressive price performance in the last month has enabled the majority of its owners to turn a profit. According to IntoTheBlock data, more than 96% of PEPE holders became profitable after the last month’s rise. PEPE increased its value by 115% this month and also set a new record high at $0.000017256 .PEPE, which reached its record level at the beginning of this week, started to decline with accelerated sales throughout the rest of the week. PEPE, which dropped to $0.00001388 in the first half of the day, recovered slightly with reaction purchases from the lower region after losing more than 20% of its value from its peak. PEPE, which has suffered daily losses of up to 3%, is currently trading at $ 0.0000145.Blockchain monitoring platform Lookonchain reported in its post on X that a significant amount of PEPE was transferred from an anonymous crypto wallet to Binance. Following this transfer, PEPE saw losses exceeding 10% before recovering today.The major crypto investor reportedly sold his PEPE assets for approximately $9 million and made a 52% profit on the transaction, close to $5 million. The analysis platform that monitors the wallet account reported that the investor made this profit in less than a month.On the other hand, in today’s downward momentum, it was seen that PEPE and other high-capitalization meme coins were among the top 100 losing altcoins. Among these assets, PEPE recovered rapidly, while BONK/USD and FLOKI/USD maintained their place in the rankings as the assets that fell the most today, with losses of nearly 10%. More

President Joe Biden is reported to be interacting with key figures in the crypto industry during his election campaign, similar to his rival Donald Trump. This marks a significant change in the stance of the presidential candidates, who were previously known for their distant approach to the crypto sector.The team managing Biden’s election campaign has accelerated engagement with several crypto experts, considering that the crypto sector could have a significant impact on the presidential race.This approach became more evident with the response to a crypto-focused bill in recent weeks. Although the Biden Administration opposed the bill, it avoided stating that it would be vetoed, thereby adopting a more moderate policy.A similar situation applies to spot Ethereum ETFs. Some commentators, including Ark Investment’s CEO Cathie Wood, have characterized the surprising approval of Ethereum ETFs by the SEC as politically motivated.Former President Donald Trump, in his past statements, had expressed his unfavorable view of Bitcoin, seeing it as a threat to the dollar’s dominance and even calling it a fraud.However, Trump’s current approach to the crypto sector appears to have changed. He has promised to structure the future of cryptocurrencies, including Bitcoin, in the US as part of his campaign promises. Trump also emphasized that there are 50 million crypto investors in the US and expressed his support for citizens’ right to self-custody of their crypto assets.Moreover, Trump has started accepting campaign donations in BTC, ETH, and DOGE. There are also speculations that Trump might consider using Bitcoin to address the USA’s $35 trillion debt.As the elections approach towards the end of 2024, there is speculation that more moderate steps could be taken regarding crypto regulations based on election promises. If the presidential candidates fulfill their promises post-election, it is believed that crypto adoption in the US could increase more rapidly. More

Now that the first approval of the ETFs took place last week and the final one is expected to be announced after the approaching SEC meeting in June, large whales are starting to accumulate the second largest cryptocurrency, Ethereum.According to a recent tweet published by the popular crypto analyst Ali Martinez, there is now a massive increase in the number of new ETH wallets that hold 10,000 ETH or more. This indicates a shift from selling to accumulation, the analyst pointed out.According to Whale Alert, more than $5.1 billion worth of Bitcoin was moved from the exchange to a new wallet. Experts began sharing opinions on the X app that the embattled exchange had finally begun repaying its debt to creditors, who suffered immense financial losses when Mt. Gox collapsed in 2014.However, the platform’s former CEO, Mark Karpeles, tweeted that the funds were just being moved to a new wallet, and no immediate Bitcoin selling was happening by Mt. Gox. Currently, the new unmarked blockchain wallet created by Mt. Gox for further payouts to creditors holds 141,686 BTC, evaluated at roughly $9.62 billion. These were the first transfers to this wallet since 2019.A total of 142,000 BTC and 143,000 BCH are expected to be distributed to creditors before the end of October this year.This article was originally published on U.Today More

According to JPMorgan, the price to Net Asset Value (NAV) gap for the Grayscale Ethereum Trust (ETHE) has nearly closed, but fluctuations are expected if the launch of spot Ethereum ETFs in the U.S. faces further delays. While the SEC has approved the 19b-4 forms, the S-1 filings are still under review.The approval of these ETFs, which appears to exclude staking features to ensure SEC approval, suggests that the SEC may view Ethereum as a commodity without staking. JPMorgan analysts believe that the SEC is unlikely to approve ETFs for other tokens, which are considered more centralized and are viewed as securities, unless U.S. policymakers pass legislation treating most cryptocurrencies as commodities—a scenario deemed less likely before the U.S. election.JPMorgan raised questions about the potential for investor inflows into the newly approved spot Ethereum ETFs. The bank anticipates that demand for these ETFs will be a fraction of what was seen for spot Bitcoin ETFs. Reasons include Bitcoin’s first-mover advantage, the lack of a demand catalyst similar to Bitcoin’s halving, the initial exclusion of staking in the Ethereum ETFs, Ethereum’s different value proposition as an application token, lower AUM/liquidity, and the relative size of the Ethereum market compared to Bitcoin.The bank estimates that the spot Ethereum ETFs could attract modest net inflows of approximately $1 billion to $3 billion for the remainder of the year. Should staking be included in the future, potentially through legislative changes, inflows could increase to between $3 billion and $6 billion.Finally, JPMorgan noted that the initial market reaction to the launch of spot Ethereum ETFs might be negative. Drawing parallels to the post-launch reaction of spot Bitcoin ETFs in January of the previous year, the firm expects around $1 billion to exit the Grayscale Ethereum Trust as speculative investors who anticipated a conversion to an ETF may take profits, potentially leading to a short-term decline in Ethereum prices following the launch of the spot ETFs.This article was generated with the support of AI and reviewed by an editor. For more information see our T&C. More

Wave Digital Assets (Wave), a digital asset-focused investment adviser regulated by the SEC, is pleased to announce the launch of a Polygon network-focused yield vehicle with an initial $30 million. The vehicle is designed to support protocols and teams on the Polygon zkEVM blockchain.starting with facilitating liquidity and TVL.“We’re thrilled to support the developers and startups building upon Polygon’s sustainable blockchain infrastructure as it continues to break ground in the Web3 community. Today, we are launching a new vehicle that we believe will help expand this robust community,” said Benjamin Tsai, Co-founder and President of Wave Digital Assets. “Our new initiative will support promising entrepreneurs deploying onto the Polygon zkEVM chain and building its diverse community such as P2P exchanges, lending protocols, and stablecoin issuers.”Polygon zkEVM is a layer-2 network built on Ethereum that utilizes zk-(zero-knowledge) proofs to validate transactions on the network. By bringing together the EVM (Ethereum Virtual Machine) and zk-proofs, Polygon zkEVM offers a promising solution to some of the key challenges facing Ethereum and other blockchain networks. By leveraging zk-proofs, Polygon zkEVM can achieve significant scalability improvements while maintaining the security integrity of the Ethereum blockchain. This means that transactions can be processed more efficiently, opening up new possibilities for decentralized applications (dApps) and use cases on the blockchain. Polygon zkEVM represents an exciting development in the ongoing effort to make blockchain technology more scalable, secure, and user-friendly.For media inquiries, please contact [email protected] Polygon LabsPolygon Labs is a software development company building and developing a network of aggregated blockchains via the AggLayer, secured by Ethereum. As public infrastructure, the AggLayer will bring together user bases and liquidity for any connected chain, and leverage Ethereum as a settlement layer. Polygon Labs has also contributed to the core development of several widely-adopted scaling protocols and tools for launching blockchains, including Polygon PoS, Polygon zkEVM, and Polygon Miden, which is in development as well as Polygon CDK.About Wave Digital Assets Wave Digital Assets (Wave) is a Los Angeles-based, SEC-regulated investment advisory firm that provides institutional and private wealth digital asset management solutions. Led by a team of highly experienced financial services professionals, Wave provides bespoke digital asset investment solutions with a focus on yield generation through private funds, as well as managed accounts for HNWIs and family offices seeking tailored digital asset exposure, bespoke treasury management services, early-stage venture capital, and strategic consultation to the digital asset ecosystem. Website | Twitter | LinkedInImportant Disclosures and Other Information Nothing in this material should be interpreted as an offer or recommendation to buy, sell, or hold any security or other financial product. Registration with the SEC does not imply a certain level of skill or training. Additional information including important disclosures about Wave Digital Assets LLC also is available on the SEC’s website at www.adviserinfo.sec.gov or, learn more information about Wave Digital Assets at www.wavegp.com. ContactAccount DirectorJonathan DuranMelrose [email protected] article was originally published on Chainwire More

According to crypto lore, a “sat” refers to a satoshi, the smallest unit of Bitcoin, named after its mysterious creator, Satoshi Nakamoto. Thus, 1 BTC is equivalent to 100 million satoshis. The phrase “stack sats” has become popular among Bitcoin supporters, encouraging consistent accumulation over time, regardless of price volatility. This philosophy underscores the importance of long-term investment and patience, suggesting that accumulating small amounts of cryptocurrency can steadily lead to significant gains over time.Saylor’s message encapsulates this investment strategy and reflects his broader views on Bitcoin. He advocates for a disciplined approach to investing, warning against the pitfalls of trying to time the market or making large, speculative bets. While he urges people to be humble and accumulate Bitcoin, even in small fractions, the price of the major cryptocurrency continues to test everyone’s patience.For the past two weeks, BTC has been trading in an extremely narrow price corridor, with an upper boundary of $72,000 and a lower one of $66,800. At the same time, the price of Bitcoin is held at $68,000 most of the time.This article was originally published on U.Today More

This partnership provides Coindisco’s community with a reliable, regulated, and trusted payment system that drives more approvals and more revenue from more digital assets.Topper, a fiat-to-crypto on-ramp by the global web3 financial platform Uphold, integrates today with Coindisco for buying and monitoring the user’s preferred crypto assets. This Topper integration ensures Coindisco users can enjoy seamless trading with multiple payment options, high transaction approval rates, and expedited transaction processing.With a diverse range of over 200 digital assets and coverage in more than 140 countries, Topper manages know-your-customer, anti-money laundering, and financial risk controls, freeing brands to focus on delivering excellent products to their customers. “As we evolve into becoming the leading provider in managing your digital assets, through features such as curated data analytics, profiled payment methods and aggregating your best on/off-ramp quotes, Topper sets our Coindisco users up for success to be one of our several go-to solutions for navigating the dynamic world of cryptocurrencies,” said Dmitri Gmyza, Co-Founder & CEO of Coindisco. “We look forward to elevating Coindisco’s commitment and implementing the most intuitive, cost-effective, and convenient payment companion.”To find out more, users can visit www.topperpay.com/ and check out the Coindisco app in Google Play or the App Store. About TopperTopper, the easy fiat on-ramp with higher approval rates, is an quick-to-implement web3 payment tool that lets crypto projects process more of their customers’ payments – supporting twice as many digital assets than its competitors. The Topper payment widget is built to simplify the payment process, accept more currencies and deliver higher approval rates, resulting in fewer declines and more revenue. Developed by Uphold, the web3 financial platform, Topper is a reliable, regulated and trusted payment system.About Uphold Named Uphold the Best Crypto Exchange in the UK by Forbes Advisor, Uphold is committed to making web3 easy. As a web3 financial platform, Uphold serves over 10 million customers in more than 140 countries. It provides businesses and consumers with easy access to digital assets and services. Uphold’s unique “Anything to Anything” interface gives end users seamless access to and between digital assets and national currencies and precious metals. Uniquely, Uphold smart routes orders across 30 trading venues delivering optimal execution and superior liquidity to customers. Uphold never loans out customer assets and is always 100% reserved. The company has pioneered radical transparency and uniquely publishes its assets and liabilities every 30 seconds on a public website (https://uphold.com/en-us/transparency).Uphold is regulated in the U.S. by FinCen and State regulators; and is registered in the UK and Canada with the FCA and FINTRAC respectively and in Europe with the Financial Crime Investigation Service under the Ministry of the Interior of the Republic of Lithuania. To learn more about Uphold’s products and services, visit uphold.com.About CoindiscoWith over a decade worth of experiences building the finest user experience in web3 applications, Coindisco is well positioned to be your leading Crypto buying companion to manage all of your digital assets and compare leading payment providers, within a single app and at the touch of your fingertips.Save your payment methods, fetch the most competitive rates and obtain curated payment insights with Coindisco, the best way to buy crypto. To learn more about Coindisco, visit coindisco.comContactPR ManagerLauren [email protected] article was originally published on Chainwire More