Cryptocurrency

The analysts comment “We see a positive setup for Dell heading into C25 given 1) AI server demand, 2) storage demand driven by an expected IBM (NYSE:IBM) mainframe refresh, and 3) demand from an expected PC refresh. Dell Technologies (NYSE:DELL) World 2024 took place May 20th-23rd where Dell introduced Dell AI Factory and expanded its AI portfolio with 5 new AI-PCs, all-flash file storage, network architecture in addition to AI services offerings. We see these new products supporting Dell’s growth in C25. Reiterate Buy on upside driven by AI servers, PC refresh, and strong capital return with potential S&P inclusion as an additional catalyst.” More

The analysts comment “Given the lowered bar, we expect FDS to deliver roughly in-line 3Q24 results; however, the focus is on the 4Q24 ASV ramp. The company may reiterate FY24 ASV guidance given the solid 2H24 sales pipeline; however, the guidance will not be de-risked due to the elongated sales cycle, end-market weakness, and CSUBS merger headwinds. The timing of the CS-UBS headwinds and potential for Wealth cross-selling remains uncertain. We expect FDS to deliver on the margin guidance of 36.5% but likely lower the expectations for FY25 margins to be roughly flat due to Cloud/GenAI Spend.” More

The analysts comment “Box printed decent results, leading shares flat after-hours. Excluding all the noise from currency movements, billings was essentially in-line, FY25 revenue guidance passed through the Q1 beat, and KPIs were stable. While management remains optimistic on AI driving more E+ adoption, there was little to change our thesis as we await more details on the next higher-priced plan with more advanced AI capabilities (recall this is key to the aspirational 10-15% mid-term growth targets).” More

Ana de Mattos, a technical analyst and trader partnered with Ripio, notes that “even though they have been approved, trading of these ETFs is not yet scheduled because the SEC needs to approve the S-1 filings, which detail the management of the funds,” explains Mattos, who reminds us that these forms are still under review.Last week, the U.S. Securities and Exchange Commission (SEC) requested exchanges to amend their filings and approved the forms on Thursday, the 23rd. “Markets are awaiting final SEC confirmation on the asset managers’ forms, which could happen soon and would be the last hurdle before these products are approved for trading,” points out Manuel Villegas, digital asset analyst at Julius Baer.The market views this trading as almost certain in the short term, which can be observed in some indicators, cites the Swiss group, including the discount on Grayscale’s closed Ethereum Trust and its net asset value, which has dropped from about 20% to 1% in recent days.“At the same time, options markets are showing a clear skew in Ethereum options across all maturities. In fact, there are nearly two call options for every put option,” adds Julius Baer.Although investors benefit from closer spot price tracking with these products, Julius Baer believes the approval is largely priced in.Analysts expect not only a rise in Ethereum, which has already increased by more than 20% in May, but also in other projects related to the technology. According to Mattos, Ethereum continues to face strong buying pressure, with resistance at $4,565 if the flow continues. Beyond this range, the analyst believes the cryptocurrency could surpass its all-time high and reach the first Fibonacci expansion level at $5,454, with short- and medium-term supports at $3,200 and $2,980.At 4:30 PM ET, Ethereum was down 1.03%, at $3,837.43.Julius Baer states that a possible reason for the acceleration of this approval process is the proximity of the American elections and recalls that former President and candidate Donald Trump supports various crypto-related projects, while Biden is expected to decide whether to sign the 21st Century Financial Inclusion and Technology Act, which has been approved by the Republican Party and much of the Democratic Party. “The legislation is expected to promote clarity around digital asset regulation, aiming to provide a framework for service providers,” added Julius Baer.Ethereum is on the verge of reaching its “best moment,” according to Daniel González, Crypto Analyst at Bitso. Among the positive drivers is the greater adoption of technologies enabled by the Ethereum network, which play a crucial role in the development of Web3. Additionally, the expansion of smart contracts, applications that automate transactions, and financial inclusion geared towards decentralized payments are also among the drivers – highlighting the possibilities of the technology.***Want to invest in cryptocurrency exchange stocks? InvestingPro has professional tools to help you invest with confidence and never stay in the dark, such as:Stop investing in the dark! Use the coupon INVESTIR and get an additional discount on the 1 or 2-year Pro or Pro+ promotion. But this offer is for a limited time! Click here and secure your special price now! More

While massive withdrawals have been made, the Mt. Gox wallet still holds more than 30,000 BTC, which is worth about $2 billion at current exchange rates. This activity comes ahead of the promised distribution of funds to creditors by Oct. 31, 2024.The sudden transfer of such a huge amount of Bitcoin has caused concerns among market participants. Fears of a possible sell-off caused the BTC price to fall by more than 4%, with the total market capitalization dropping by nearly $100 billion in less than 12 hours.Adding to the market’s anxiety was a withdrawal of funds from Binance, the world’s largest cryptocurrency exchange. A total of $289 million worth of USDT was transferred to an unidentified address. Normally, massive withdrawals from exchanges are seen as bullish, signaling that large investors are moving assets to private wallets for long-term storage.This transfer, however, indicates that a significant amount of cryptocurrency was sold out on Binance, likely in response to the expected potential dumping of Mt. Gox’s Bitcoin.In response to the uproar, Mark Karpeles, former CEO of Mt. Gox, clarified that moving cryptocurrency from the exchange’s wallet was part of the preparations for a planned distribution of funds to creditors and did not signal a sale. This assurance brought some relief, with BTC recovering a third of today’s losses. Nevertheless, market sentiment remains cautious, with most digital assets still in the red.This article was originally published on U.Today More

Bitcoin’s recent price action has been characterized by its struggle to break past the $72,000 mark. The $72,000 mark has become a line in the sand for Bitcoin, representing a level of resistance that has been difficult to overcome.This resistance level has proven to be a significant psychological and technical barrier for traders and investors alike. Each of the three tests of this level was met with strong selling pressure, preventing BTC from making a sustained move higher.However, should Bitcoin manage to break above this level, it could trigger a short squeeze, potentially catapulting the currency to a new all-time high (ATH) of $75,000.Market analysts and traders are closely monitoring Bitcoin’s price behavior at this resistance level. The repeated tests suggest building momentum that could potentially lead to a breakout. Historically, such persistence often precedes significant price movements, as resistance levels tend to weaken with each successive test.According to Negentropic, the $72,000-$74,000 range is marked by high supply and selling pressure. A sudden breach here could trigger a short squeeze, propelling BTC to unprecedented heights.In the very short term, the chances for Bitcoin range trading remain, with prices expected to range between $64,000 and $72,000. This consolidation phase might give altcoins a chance to shine.At the time of writing, BTC was down 0.60% in the last 24 hours to $68,191 after dipping to lows of $67,437, as fears arose over the recent Mt. Gox-Era Bitcoin shift.This article was originally published on U.Today More

MultiBank.io, the cryptocurrency exchange division of the esteemed MultiBank Group, has been awarded the prestigious “Best Crypto Exchange 2024” title at Crypto Expo Dubai.This distinction emphasizes MultiBank.io’s unwavering focus on delivering an exceptional trading experience, cementing its status as a prominent contender in the cryptocurrency world. The exchange is strategically expanding its presence in the dynamic cryptocurrency market by introducing various innovative features and security measures.Proud Moment at Crypto Expo Dubai 2024Crypto Expo Dubai, held at the Dubai World Trade Centre on May 20-21, 2024, witnessed a convergence of crypto enthusiasts, global industry leaders, and innovators. As a Titanium Sponsor, MultiBank.io played a vital role in the event, showcasing its state-of-the-art trading platform and offering deep insights into the rapidly evolving world of cryptocurrencies.Visitors had the opportunity to engage with MultiBank.io’s team of experts, exploring its comprehensive range of crypto offerings and learning about the latest market trends. The event proved to be a fertile ground for networking, learning, and discovering valuable insights, reinforcing MultiBank.io’s growing presence in the crypto landscape.On the opening day of the conference, attendees were invited to a keynote address by Zak Taher, CEO of MultiBank.io. This pivotal speech focused on the fundamental values of MultiBank.io’s crypto exchange: “Where TradFi meets Crypto.” This address provided attendees with an enlightening opportunity to discover the fusion of traditional finance and digital assets.Cutting-Edge Trading SolutionsMultiBank.io’s platform is designed to meet the sophisticated needs of modern traders. The exchange offers an extensive array of crypto assets; spot and derivatives, with leverage options of up to 100x, providing traders with the tools necessary to navigate the intricate landscape of the cryptocurrency market with confidence and precision.Unwavering Commitment to SecuritySecurity is a cornerstone of MultiBank.io’s operations. The platform has earned an impeccable 10/10 Penetration Testing Score from Hacken, a leading blockchain security auditor. MultiBank.io’s adherence to the highest standards of transparency and client fund security is further validated by its regulation under the Australian Transaction Reports and Analysis Centre (AUSTRAC). Moreover, MultiBank.io is backed by MultiBank Group, which operates under the supervision of 15 financial regulators, including ASIC, BaFin, ESCA, CySEC, and MAS, among others.Looking AheadAs MultiBank.io continues to innovate and expand its offerings, the “Best Crypto Exchange 2024” award serves as a testament to its dedication to excellence in the cryptocurrency industry. The recognition at Crypto Expo Dubai is a milestone that highlights the platform’s ongoing efforts to provide secure, efficient, and cutting-edge crypto trading solutions to its burgeoning global clientele.For more information about MultiBank.io and its services, visit MultiBank.io.ABOUT MULTIBANK.IOMultiBank.io, a cryptocurrency exchange under MultiBank Group, offers a user-friendly platform for instant, secure trading including Bitcoin and Ethereum. For more information, visit https://multibank.ioABOUT MULTIBANK GROUPFounded in California, USA, in 2005, MultiBank Group has grown to command a daily trading volume exceeding $12.1 billion, serving over 1 million customers. MultiBank Group has matured into one of the largest online financial derivatives providers globally, offering an array of brokerage services and asset management solutions. The group’s award-winning trading platforms offer up to 500:1 leverage on a diverse range of products, including Forex, Metals, Shares, Commodities, Indices, and Digital Assets. For more information, visit https://multibankfx.com ContactAntonio [email protected] article was originally published on Chainwire More

Gurbacs’s message to those countries is to follow the example set by El Salvador and consider adopting Bitcoin first as a reserve currency instead of the U.S. dollar, and then announce BTC to be legal tender. El Salvador did choose BTC as its official legal tender in 2021.Now, Argentina intends to learn from El Salvador and adopt its Bitcoin experience. Recently, the securities regulator of Argentina (the National Securities Commission, NSC) has initiated a meeting with El Salvador’s National Commission of Digital Assets (CNAD). In this meeting, they discussed potential Bitcoin adoption and regulation in Argentina in the future and how this was performed in El Salvador.He believes that these days, in 2024, not holding Bitcoin on a balance sheet is “irresponsible for nation states not to hold Bitcoin.”According to recent reports by Whale Alert, the early Bitcoin trading platform has released the Bitcoin equivalent of $5.1 billion, presumably to further direct these funds to the creditors who suffered after the Mt. Gox hack that happened a decade ago.Whale Alert spotted seven massive transactions carrying between 4,000 BTC and 34,138 BTC roughly three hours ago.By now, Bitcoin has managed to recover 1.26% as it is changing hands at $68,446.This article was originally published on U.Today More