Cryptocurrency

However, despite the bullish sentiment, renowned trader John Bollinger, the creator of the widely used Bollinger Bands, has expressed caution regarding the immediate future of the major cryptocurrency.Bollinger Bands are a popular indicator among traders that help identify volatility and potential price reversals by plotting standard deviations above and below a simple moving average. Recently, Bollinger noted a concerning pattern on Bitcoin’s price chart, indicating a potential pullback or consolidation period. He highlighted the appearance of a two-bar reversal at the upper Bollinger Band, which often suggests a temporary market correction.Although the analysis suggests a short-term concern, he remains optimistic about Bitcoin’s long-term prospects. His cautious stance is rooted in technical indicators rather than a fundamental bearish outlook. Bollinger’s perspective reflects current market sentiment, where optimism about Bitcoin’s future growth is tempered by awareness of potential short-term volatility.While John Bollinger’s short-term concerns highlight the need for caution, his enduring confidence in Bitcoin’s overall bullish trend underscores the cryptocurrency’s position. As BTC approaches its all-time high, the balance between optimism and caution will be crucial for crypto enthusiasts navigating this market.This article was originally published on U.Today More

Solv Protocol, a unified yield and liquidity layer for major digital assets, has surpassed $1 billion in Total Value Locked (TVL), cementing its position as the 32nd largest decentralized finance (DeFi) protocol according to DeFiLlama rankings.Solv has launched SolvBTC on Arbitrum, BNB Chain, and Merlin Chain. The protocol is building an ecosystem where users can bridge SolvBTC to farm points in new chains’ points programs, such as a 1.5x multiplier in zkLinkNova’s Aggregation Parade. Additionally, Solv has also introduced the Solv Point System, where users can exchange points for SOLV token airdrops to incentivize engagement.About SolvSolv Protocol is backed by strong investors, including Binance Labs, Blockchain Capital, Laser Digital, and other renowned firms. The protocol has also undergone extensive security audits by leading firms such as Quanstamp, Certik, SlowMist, Salus, and Secbit.For more information about Solv Protocol and its products, please visit the official website at solv.finance.Website | dApp | X | Telegram | Discord | LinkedIn | GitHub ContactEthean Yuethean@solv.financeThis article was originally published on Chainwire More

Nevertheless, the chances of a major “buy the rumor, sell the fact” reaction for ETH seem lower compared to Bitcoin, according to a recent Citi report.Bitcoin dropped 17% after ETF approval due to the hype and leveraged bets. In contrast, the potential approval of an ETH ETF has been less expected, leading to less extreme pre-positioning, the report says.Upon the release of these reports, ETH futures open interest (OI) and funding rates were subdued compared to previous months. However, OI has started to increase, indicating rising anticipation of a potential ETF approval. Net flows into Bitcoin ETFs have been a major driver of returns since their launch in January, explaining much of the cryptocurrency’s performance. This trend is likely to continue with the introduction of ETH ETFs, indicating that overall crypto ETF flows will remain important for returns.Reports indicate that robust conversations are ongoing behind the scenes between regulators and ETF providers, which include nine fund providers with applications pending at various stages. Past approvals for Bitcoin ETFs suggest that simultaneous launches for ETH ETFs are likely.Historical data from Citi shows that net flows into spot Bitcoin ETFs materially influence cryptocurrency returns. For instance, net BTC ETF inflows totaled $12.9 billion through May 20, translating to a roughly 6% rally in Bitcoin per $1 billion of flow. Assuming similar market-cap-adjusted flows for ETH, estimated inflows could range between $3.8 billion to $4.5 billion, potentially driving ETH prices up by 23-28%.Several factors could impact these estimates, including differing demand for ETH compared to BTC, rotation from BTC to ETH among existing ETF holders, outflows from existing ETH funds upon conversion, and rapid positioning build-up ahead of SEC approval.In the long term, Citi analysts said that Bitcoin and Ethereum are expected to remain highly correlated, driven by macroeconomic factors. Despite differing on-chain activity and potential use-cases, such as Bitcoin’s role as “digital gold” and Ethereum’s smart contract functionality, sentiment, adoption, and further use-case development remain crucial for both cryptocurrencies.”We expect the major tokens to remain highly correlated and continue to be driven by macro forces over the longer term,” Citi memo concludes. More

Panana Finance has introduced closed beta access, enabling users to trade both cryptocurrencies and real-world assets on its platform.A New Era of Decentralized TradingPanana Finance is a decentralized exchange (DEX) designed to enhance perpetual trading and bridge the gap between traditional finance and the digital economy. The platform offers a wide range of trading pairs, including cryptocurrencies, Forex, and commodities, providing users with a diversified trading experience.Empowering Traders: The Democratic Revolution of Panana FinanceAt the heart of the financial revolution, Panana Finance stands out as a beacon of collective empowerment. It’s not just another platform; it’s a 100% community-owned project that’s breaking the mold. With no venture capitalists in sight, every decision, every change, and every new feature is driven by the very people who use it. This isn’t just a platform for trading; it’s a platform for the traders, by the traders. Here, every member holds the power to shape the future, making Panana Finance a true democracy in the digital age.Revolutionizing Liquidity ProvisionThe platform employs a hybrid market-making model that combines institutional expertise with community-driven liquidity. This approach aims to provide effective liquidity across various trading pairs, fostering a seamless trading environment suitable for both experienced traders and newcomers.Visionary Initiatives on the HorizonUpcoming initiatives for Panana Finance include a DAO-based token launch, allowing users to participate in governance, and the introduction of tiered NFTs linked to trading volume, which offer exclusive benefits and rewards.Exclusive Closed Beta AccessPanana Finance’s closed beta is launching on the Arbitrum mainnet. Nearly 20,000 eligible traders from the Arbitrum ecosystem will have the opportunity to claim one of 3,000 invite codes. Those who have been active on Arbitrum perpetual DEXs or made significant deposits into the Hyperliquid Arbitrum bridge may qualify for these limited invite codes.Closed beta whitelist criteria:Participants in the closed beta will gain early access to the platform and have the opportunity to earn Panana Points through trading, achieving milestones, and referring new users. These points will offer future rewards and advantages.Panana Points will have more rewarding use cases in the future so keep an eye on them.How to ParticipateEligible users can check their status and claim invite codes on the Panana Finance website. Additional opportunities to obtain invite codes will be available through Panana’s social media and community channels.Users who are unable to claim an invite code through the Panana platform can still participate by following Panana’s X account and joining the Discord community, where additional invite codes will be distributed through various giveaways.Revolutionizing TradingPanana Finance aims to redefine trading by offering a platform that emphasizes decentralization, liquidity, and community empowerment.About Panana FinancePanana Finance is a community-driven perpetual DEX on Arbitrum that allows users to trade cryptocurrencies and real-world assets such as forex with potential commodities and no funding fee. For more information users can visit: Official Website | Discord | XContactMarketing LeadJack WilliamsonPanana Financeteam@panana.financeThis article was originally published on Chainwire More

BaseAlpha, the newly launched IEO token on ProBit Global is set to redefine decentralized investing. With its innovative approach to the automated launchpad, BaseAlpha brings accessibility for users to access early crypto releases on a Base chain. BaseAlpha’s (BAA) core value is bringing accessibility and inclusivity for all investors, eliminating any advantages like venture capital and secret token discounts. Moreover, BaseAlpha introduces Liquidity Bootstrapping Pool (NASDAQ:POOL), a dynamic contract designed to optimize investment opportunities by managing a pool of tokens to be sold. This approach democratizes investing and fosters a community-driven environment where every participant has fair access to investment opportunities.In addition, BaseAlpha provides a subscription model where funds raised are divided by the tokens provided in the pool, and any surplus beyond the hard cap is refunded to investors. This provides a transparent launchpad and transparency of fund allocation. Moreover, BaseAlpha’s decentralized launchpad utilizes their Alpha Bot for automated seamless interactions for token deployment. Using their Telegram bot to bridge the gap between Web2 and Web3 users, it provides a user-friendly interface, ensuring a smooth and efficient investing experience for all participants.As BaseAlpha launches on ProBit Global with their Initial Exchange Offering, it invites users to join its mission to change decentralized finance. With their commitment to fairness and transparency, BaseAlpha is positioned to reshape investing on the Base chain. Users can check out the ongoing BaseAlpha (BAA) IEO round 1 on ProBit Global, and be on alert for upcoming BAA events and token reward opportunities.ABOUT PROBIT GLOBALFounded in 2018, ProBit Global is a Top 20 cryptocurrency platform featuring access to more than 800 cryptocurrencies and over 1000 different markets. ProBit Global aims to position itself as a world-class exchange for both crypto enthusiasts and novice investors, and boasts a user base of more than 2,000,000 active users, globally.With a powerful crypto trading interface, easy integration for automated crypto trading bots, fiat on-ramp support for 45 currencies, and a multilingual website in 46 languages, ProBit Global has all the features to make your cryptocurrency trading experience easy.To learn more, users can visit probit.com.ProBit Global Telegram: https://t.me/ProBitGlobalOfficialProBit Global on X: https://x.com/ProBit_Exchange ContactTheo HeisenbergProBit Globalmarketing@probit.comThis article was originally published on Chainwire More

Leading Cryptocurrency broker, PrimeXBT, has just launched a total revamp of its brand, website, and all-in-one platforms, as part of its vision to “democratise the financial markets” and “make investing available to all”. PrimeXBT’s new look and feel debuts alongside equally substantial upgrades to the broker’s product offering, including lower fees across 100+ CFD markets, increased leverage on Crypto CFDs, and new fiat payment options, aiming to offer traders more for less. This is in addition to offering traders the ability to buy popular Cryptocurrencies like BTC, ETH, USDT, and USDC outright. The revamp is accompanied by a campaign simply titled “We listen”, where the Crypto broker reveals that a lot of the upgrades were inspired by client feedback.Additional upgrades to PrimeXBT’s offering include a substantially improved user experience across its website, webtrader, and app. The revamped PrimeXBT website now also features a ‘News’ section, so traders can get the latest news and insights from the Crypto world, and other CFD markets. Finally, the broker also debuted a new Partnership Program. Crypto Affiliates can earn up to $2,500 in CPA per client, and Introducing Brokers (IBs) can get up to 50% RevShare, making PrimeXBT’s the most competitive program currently on the market.The Crypto broker’s core brand values are clearly displayed on the upgraded PrimeXBT website; innovation, client-focus, empowerment, and transparency. All four are in clear focus with this wide-reaching revamp. The addition of new tools to the broker’s webtrader and app attest to innovation, while the simplified user experience empowers traders of all levels to take control of their finances. Making the language used across its website and platforms as clear and easy-to-understand as possible shows transparency, while helping build trust with their users. Finally, all of the changes and upgrades clearly reflect PrimeXBT’s client-focus, incorporating user feedback to improve the overall experience on offer.Users can learn more about the products and services PrimeXBT offers.About PrimeXBTPrimeXBT offers the only all-in-one trading platform that allows clients to buy and sell Cryptocurrencies, and use them to trade 100+ popular markets including Crypto Futures, and CFDs on Crypto, Forex, Indices, Stocks, and Commodities. Since being founded in 2018, PrimeXBT has grown exponentially to serve 1,000,000+ traders in 150+ countries all around the world. Clients enjoy the confidence of trading with an award-winning brand, committed to security, and benefit from round-the-clock support.Disclaimer: The content provided here is for informational purposes only and is not intended as personal investment advice. Past performance is not a reliable indicator of future results. The financial products offered by the Company are complex and come with a high risk of losing money rapidly due to leverage. Virtual assets are inherently volatile and subject to significant value fluctuations, which could result in substantial gains or losses. These products may not be suitable for all investors. Before engaging, you should consider whether you understand how these leveraged products work and whether you can afford the high risk of losing your money. PrimeXBT does not accept clients from Restricted Jurisdictions as indicated in our website. ContactPrimeXBTpr@primexbt.comThis article was originally published on Chainwire More

The community on the X platform, which also belongs to him, responded immediately, congratulating the hard working CEO. Among them were also crypto-themed accounts that made allegations about SpaceX’s crypto holdings going up in the future.Recently, as was announced by Elon Musk, this space-internet connection became available in Indonesia. Musk paid a visit to Bali as part of the promotion campaign.Crypto user @XRPcryptowolf tweeted that he expects crypto held by SpaceX to go to moon. It is widely known that SpaceX holds Bitcoin and Dogecoin. As of March 1, SpaceX and Tesla (NASDAQ:TSLA) together hold $1.3 billion worth of Bitcoin, with more than half a million U.S. dollars in profits after the bull run that took place back then. As for DOGE, this is is the only cryptocurrency both SpaceX and Tesla accept for their merchandise in online shops.The new feature will create photographic memories for users, Microsoft CEO Satya Nadella claims. It will take screenshots of all user activity on a PC and then process it with AI. Users will be able to search through this archive later on, according to the idea.Elon Musk responded, saying that this really looks like “a Black Mirror” episode – a popular TV series about possible dystopian futures and the dominating role of technologies. Musk tweeted that he will certainly switch this feature off. Ripple CTO David Schwartz also questioned the point behind the creation of this feature, assuming that people would hardly want to use it. Nadella, though, assumed everyone that Recall will operate locally and will not transfer personal user data from their PCs.This article was originally published on U.Today More

Crypto prices rose on hints of progress toward U.S. approval of exchange-traded funds investing directly in Ethereum, a departure from a more pessimistic outlook last week.The market-moving ETF speculation is reminiscent of the investor excitement that greeted comparable U.S. Bitcoin ETFs, whose January debut fueled a rally in the largest digital asset to a record high.Amid this euphoria, Michael Saylor, the chairman of MicroStrategy, took to X with an intriguing yet compelling message: “Escape the Matrix.” This tweet comes at a time when the crypto market is witnessing an epic rally, with Bitcoin nearing its current all-time highs. At the time of writing, BTC was up 6.28% in the last 24 hours to 6.28% and up 16% in the last seven days. At current prices, Bitcoin is just 3.45% away from its all-time high of $73,350, reached in mid-March. Literally, escaping the matrix means shedding all forms of outside influence to determine what you truly want deep in your soul.Saylor’s call to “Escape the Matrix” resonates with the growing positive sentiment on the crypto market. The “matrix” could reflect the previously imposed limitations, including external influences.Bitcoin’s price has been largely influenced by macroeconomic developments in recent weeks, dropping to a low of $56,903 on May 2 before recovering. While Saylor’s tweet remains subject to interpretation, “Escape the Matrix” could be more than just a catchphrase; it could be a call to action for individuals who want to push the bounds of what seems conceivable.This article was originally published on U.Today More