Cryptocurrency

A recent official announcement from the exchange also stated that no direct repayments of either Bitcoin or Bitcoin Cash have been yet made to the creditors through designated crypto exchanges. The statement also says that no crypto has yet been sold to make those repayments from the proceeds. “The Rehabilitation Trustee is currently managing Bitcoin and Bitcoin Cash in a secure manner,” according to a tweet by Chinese crypto journalist Colin Wu, who quoted the statement made by Mt.Gox.Mark Karpeles has also taken to the X platform to confirm that the $5 billion in Bitcoin that has been moved from Mt.Gox to a new wallet were not preliminary steps to selling this crypto. In his X post, the former CEO of the battered crypto exchange said that the Rehabilitation Trustee is currently transferring Bitcoin to a different wallet “in preparation of the distribution that will likely happen this year.” He stressed that “there is no imminent sale of bitcoins happening” right now.Earlier today, Bitcoin responded to these hefty BTC transactions from Mt.Gox by plummeting almost 4% and losing the recently recaptured $70,000 level. By the time of this writing, BTC has made a slight recovery and is changing hands at $68,467.This article was originally published on U.Today More

The wave of positive regulatory news did not stop there as the House of Representatives passed its first crypto bill, and the UK gave the green light to crypto exchange-traded products.Signs that an approval was imminent appeared earlier in the week when several exchanges amended their filings to exclude staking. According to Kaiko Research’s latest analysis, the market had been gradually pricing out an ETF approval over the past month amid growing uncertainty around ETH’s regulatory status.“With these approvals, the SEC implicitly stated that ETH (without staking) is a commodity rather than a security. This isn’t just about access to ETH but has significant and likely positive ramifications on how all similar tokens will be regulated in the U.S. with respect to trading, custody, transfer, etc.,” Kaiko Research added.ETH implied volatility for the nearest expiry surged from less than 60% on May 20 to nearly 90% on May 22 before retreating by the end of the week. This dramatic shift in sentiment was also evident in derivatives markets. Ethereum price hit a 2-month high on Monday as bulls try to break above the strong resistance zone that is surrounding the $4,000 level. “For a long time, Ethereum was cornered between narratives, often pursuing trends. We are finally seeing its relative market share catching up to its fundamentals. Bull runs are fueled by attention, inflows, and narratives, and Ethereum has been scoring points on all three fronts lately,” Kiril Nikolov, DeFi Strategist at Nexo, told Investing.com.Nikolov anticipates “inflows will be at least proportional to the asset’s market cap in terms of size, or approximately 30-40% of those achieved by the spot Bitcoin ETFs in the U.S.”“As long as inflows outpace Grayscale outflows, the remainder of the year could be incredible for Ethereum.”A break above the 2024 high would open the door for a quick move towards the record high in ETH/USD, which was set in 2021. The next resistance zone is located near the $6,000 level. Within just three days, ETH perpetual futures funding rates surged from their lowest level in over a year to a multi-month high. Open interest also reached an all-time high of $11 billion, suggesting strong capital inflows into the space.The ETH to BTC ratio, measuring the two assets’ relative performance, surged from 0.044 to 0.055, though it remains below February highs. The rally was broad-based, with both U.S. and offshore spot markets seeing strong net buying since May 21. Offshore exchanges had been registering net selling until then.Looking ahead, the launch of ETH ETFs could bring selling pressure from likely outflows or redemptions due to Grayscale’s ETHE, which has been trading at a discount between 6% and 26% over the past three months. ETHE currently holds over $11 billion in assets under management, making it the largest ETH investment vehicle. During the first month of bitcoin ETF trading, GBTC saw outflows amounting to $6.5 billion, roughly 23% of its AUM as of launch day.Should a similar magnitude of outflows occur with ETHE, this would translate to $110 million in average daily outflows, or 30% of ETH’s average daily volume on Coinbase (NASDAQ:COIN). However, GBTC’s outflows were offset and surpassed by inflows from other BTC ETFs by the end of January.”The overall market impact of ETHE’s redemptions is still uncertain, especially considering the lackluster launch of Hong Kong ETFs,” Kaiko Research stated. “Additionally, ETH’s market depth on centralized exchanges is about $226 million, still 42% below its pre-FTX average levels, and only 40% is concentrated on US exchanges compared to around 50% in early 2023.” More

Founded in Japan and Singapore, Oasys is a decentralized platform supported by major players in the gaming industry, including Ubisoft and SEGA. With its gaming-focused features, Oasys distinguishes itself in the crowded space through its architecture, which includes a primary layer-1 blockchain and an Ethereum-compatible layer-2 scaling solution. The platform’s capabilities also enable each individual game to create its own unique version, or “Verse”.In exclusive comments to Investing.com, Oasys shared that major game developers building on their platform is a game-changer. “The decision of major game developers to build on Oasys is transformative, paving the way for mass adoption of blockchain games by incorporating high-quality and popular IP titles,” said Daiki Moriyama, Director at Oasys.The move represents a major transition towards more scalable and user-friendly blockchain solutions in the gaming industry, he added.By using Oasys’s ecosystem, these games can benefit from faster transaction speeds and lower fees, upgrading the overall user experience. “Integrating large-scale games increases the volume of transactions, which not only tests but also strengthens our ecosystem’s capacity and stability,” Daiki further explains.Oasys is also optimistic about the upcoming listing of their tokens on Upbit. “We are confident that the listing on Upbit reflects the expansion of the Oasys ecosystem and signifies medium to long-term growth expectations for the brand, driven by the future onboarding of major games, rather than mere speculation,” they said. This listing is expected to improve the liquidity of $OAS, making it more accessible to Korean investors.OAS is the utility token of Oasys, offering staking as one of its primary functions. By staking their OAS tokens through Oasys Hub, users can earn rewards in the form of additional OAS tokens and other rewards from validator-run campaigns. Moreover, OAS holders can participate in the platform’s decentralized governance system.Oasys was created to address two major issues in the blockchain world: high gas fees and slow transaction speeds. Despite being a relatively new player in the market, Oasys shares its goals with infrastructure developers like Solana, Avalanche, and Polygon, all striving for a scalable blockchain ecosystem.  More

Hype over the approval of exchange-traded funds that directly track Ether also took a back seat while the Securities and Exchange Commission engages with fund managers over their applications to list such products. Last week, the SEC approved applications from major exchanges to list a spot Ether ETF, triggering a sharp rally in the token and broader crypto markets.Bitcoin had fallen by 0.5% in the past 24 hours to $68,289.3 by 09:08 ET (13:08 GMT). Ether sank 0.4% to $3,899.26, retreating from two-month highs touched over the weekend.Fears of higher-for-longer U.S. interest rates remained squarely in focus, especially ahead of the release of the monthly personal consumption expenditures (PCE) price index on Friday.The reading is the Federal Reserve’s preferred inflation gauge, and is likely to factor into the central bank’s outlook on rates.Sentiment towards crypto and other risk-driven assets was dented by growing suspicions that the Fed is in no rush to bring rates down from more than two-decade highs. A string of officials from the central bank have recently flagged that they need to see more proof inflation is sustainably cooling toward their 2% target before rolling out any cuts.  The notion has kept Bitcoin comfortably within a trading range established over nearly three months, and has also limited bigger gains in Ether.High rates bode poorly for speculative assets such as crypto, given that they limit liquidity that can be invested in the space, and also push up the attractiveness of conventional, low-risk investments such as the U.S. dollar and Treasuries. Ambar Warrick contributed to this report. More

“Our bitcoin treasury strategy and purchase of bitcoin underscore our belief that bitcoin is a reliable store of value and a compelling investment,” said Eric Semler, Semler Scientific’s chairman. “Bitcoin is now a major asset class with more than $1 trillion of market value. We believe it has unique characteristics as a scarce and finite asset that can serve as a reasonable inflation hedge and safe haven amid global instability. We also believe its digital, architectural resilience makes it preferable to gold, which has a market value of approximately 10 times that of bitcoin. Given the gap in value between gold and bitcoin, we believe that bitcoin has the potential to generate outsize returns as it gains increasing acceptance as digital gold.”Furthermore, we are energized by the growing global acceptance and ‘institutionalization’ of bitcoin — reflected most recently by the Securities and Exchange Commission’s January 2024 approval of 11 bitcoin exchange-traded funds. These funds have reported more than $13 billion of net inflows, with investments from nearly 1,000 institutions, including global banks, pensions, endowments and registered investment advisors. It is estimated that more than 10% of all bitcoins are now held by institutions,” added Mr. Semler.Semler Scientific’s board and senior management have spent substantial time examining potential uses of cash, including acquisitions. “After studying various alternatives, we decided that holding bitcoin would be the best use of our excess cash,” said Mr. Semler. In conjunction with its bitcoin treasury strategy, Semler Scientific will continue to focus on its core medical products and services. “We remain dedicated to our customers and our goal of operating a growing and profitable healthcare company,” said Doug Murphy-Chutorian, MD, Semler Scientific’s chief executive officer. “We are focused on maintaining sales of QuantaFlo® for peripheral arterial disease testing, while seeking a new 510(k) clearance from the FDA with expanded labeling for use as an aid in the diagnosis of other cardiovascular diseases.” As Semler Scientific continues to generate revenue and free cash flow from sales of QuantaFlo, it will proactively evaluate its use of excess cash. Bitcoin will serve as Semler Scientific’s principal treasury holding on an ongoing basis, subject to market conditions and the anticipated cash needs of Semler Scientific. More information regarding Semler Scientific’s bitcoin treasury strategy will be posted on its website at www.semlerscientific.com. More

ORACLE MEME Coin (OMEME) has made an impact in the cryptocurrency market, raising $208,000 within minutes of its presale launch. This rapid fundraising has positioned OMEME as a significant new entrant in the meme coin sector, attracting attention and participation from the community.Key Milestones and DevelopmentsThe presale of ORACLE MEME Coin saw a successful start, raising $208,000 in its initial phase. The team behind ORACLE MEME believes this early achievement underscores the project’s potential and sets the stage for subsequent rounds of the presaleUnique Features and TokenomicsORACLE MEME Coin distinguishes itself through its innovative approach within the meme coin space. With a total supply of 50,000,000,000 OMEME tokens, the presale allocation of 40% offers early participants significant involvement in the project’s foundation.The tokenomics of OMEME include:The ORACLE MEME Coin project emphasizes utility within the meme coin narrative, aiming to create, share, and monetize memes through its platform. The team already sees significant interest in this project, with thousands of projects joining the network. The raised funds are earmarked for further development and global marketing initiatives to expand the project’s reach.How to ParticipateWith the presale progressing, potential participants can visit the official ORACLE MEME Coin website to secure their share of OMEME tokens. The community is actively growing, with channels available on X (Twitter), Telegram, and Discord for ongoing updates and engagement.ConclusionORACLE MEME Coin is establishing itself as a notable project within the cryptocurrency landscape, combining innovative utility with a strong community focus. The ORACLE MEME team views the successful early presale results as reflecting the project’s potential for significant growth and adoption in the coming year.About ORACLE MEME CoinORACLE MEME Coin aims to become a leading meme coin by leveraging community, creativity, and blockchain technology. The project focuses on generating and sharing meme content with innovative tools and platforms designed to revolutionize meme creation, distribution, and monetization. Built on principles of transparency, user engagement, and technological advancement, ORACLE MEME offers a unique opportunity for users and investors to be part of a dynamic and evolving ecosystem.Users can visit the official website to participate in the rounds of the presale.Users can Join the Meme Revolution and follow ORACLE MEME Coin on X (Twitter) | Telegram | DiscordContactMr.Santiago Costa CorreiaOracle (NYSE:ORCL) [email protected] article was originally published on Chainwire More

The newly integrated analytics tool provides investors with a range of indicators including real-time Twitter statistics, on-chain activity, gas fees, ownership distribution, and detailed asset descriptions. The crypto information services provider said this data, traditionally available only to institutions, is now accessible to all Nexo users. The TIE’s core product is the SigDev Terminal, which offers market, company, and news data all on a single platform. The firm’s news data is currently the most widely used function on the terminal.In the first quarter of 2024, spot trading volume on centralized exchanges reached $4.29 trillion, highlighting the massive demand from market participants. “Learning to analyze and understand the market requires both time and information. By partnering with The Tie, we are committed to providing all users with fast access to market sentiment and movements, enhancing their experience and engagement through valuable data-driven insights,” said Elitsa Taskova, Chief Product Officer of Nexo.Joshua Frank, Co-Founder and CEO of The Tie, added: “We are thrilled to introduce real-time analytics tools on the Nexo platform. Nexo users will now have access to the same industry-leading metrics that we provide to over one hundred institutional clients on The Tie Terminal. We commend Nexo’s vision to integrate The Tie’s extensive tools to build a robust and unique trading experience for individual investors.”The Tie has been a part of Nexo Ventures’ portfolio since March 2022. The sector has attracted decent funding in recent months as investors attempt to make sense of the flood of crypto-related information. The Tie’s clients include traditional and crypto-native hedge funds, OTC desks, market makers, trading venues, banks, sell-side firms, and other institutional market participants.Nexo launched its investment arm, Nexo Ventures, in 2022, which now includes over 60 portfolio companies. Since its inception, the company has processed over $130 billion for more than 7 million users across 200 jurisdictions. Earlier this month, the crypto lender received initial approval as a licensed entity in Dubai from the region’s Virtual Assets Regulatory Authority (VARA). More

Ethereum has also continued to rise above the $3,800 level, now trading at around $3,906. This bullish run is rather supported by a considerably high amount of volume, indicating good buying interest. Currently, the level has found strong support from the 50-Day EMA, lying around $3,225, and from the 100-Day EMA around $3,170, supporting ETH.At the moment, the Ethereum RSI is at 72, indicating that ETH is overbought. Maybe it signals a pullback, but the general sentiment of the market remains in place. Recent price action noted a clear breakout from consolidation, with more targets on higher resistance levels for ETH.But it has to hold momentum to continue the journey toward $4,500 and penetrate above the psychological $4,000 price level. If at all broken, the next crucial resistance we are looking at in the range of $4,200 could give power to the doors for ETH toward $4,500. The current levels to watch are $3,800 and $3,500 on the downside, which should hold to maintain the bullish bias.This implies that the digital asset is failing to sustain levels above $70,000, a level that signals the continuation of massive buying pressure. From looking at recent price action, Bitcoin has once again failed to sustain above the $70,000 level, where most significant resistance lies. The consolidation can be visibly seen on the daily chart, where Bitcoin is exchanging levels just under $69,000. Besides that, the struggle to maintain gains above the psychological level continues to pick up momentum while consolidating at that level, with the 50-day moving average.Failure to breach the resistance at $70,000, along with consolidating price action, may also signal potential bearish trends. If Bitcoin loses the battle to hold above levels beyond the immediate support at $68,000, it might test the lower support levels around $65,000 and $62,000, as depicted by the moving averages. The selling pressure surge under these moving averages is likely to push for larger losses toward the $60,000 level.Solana is testing such a strong support level in the form of the 26 EMA. It would not be the first time the price of SOL has touched this resistance level. This has been the case in the past, whereby SOL touched around $160 in price and sprang upward successfully. Solana is currently trading around $164, which is close to a major support zone expanded by the 26-day EMA.This has acted strongly in the past, notably around the $160 zone, from which SOL managed to find strength and rise. One of the very important technical indicators monitored very closely by traders, therefore, is the 26 EMA, as it usually provides a cushion during a bullish run and resistance when in a downtrend.Solana has been quite volatile pricewise but has remained upwards over the last few trading weeks. Further, the price has retracted at the levels around $190, testing the 26 EMA support. Not far away, the 50-day EMA is located at $153, and in the case of a failure of the 26 EMA, that is the next line of defense.This article was originally published on U.Today More