Cryptocurrency

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

On the technical front, Bitcoin’s recent move has broken through key resistance levels, sending a strong signal to the market. The daily chart shows Bitcoin successfully surpassing the $67,000 mark, which acted as a significant resistance. This breakthrough has set the stage for Bitcoin to aim for the $70,000 level, a milestone that could solidify its position in bullish territory.Ethereum’s chart reveals a similar story. The cryptocurrency has managed to break past its 50-day and 200-day moving averages, indicating a strong upward momentum. The volume of trading has also seen a notable increase, suggesting growing investor interest and confidence in Ethereum’s future prospects.The impact of these price movements on the broader market has been profound. According to data, more than $250 million worth of short positions were liquidated as traders rushed to cover their positions amid the bullish trend. This massive liquidation has added further fuel to the rally, pushing prices even higher.Interestingly, the liquidation data shows that the majority of these liquidations were short positions as, prior, to the Ethereum ETF news, the majority of the market was heavily inclined toward bearish sentiment. The chart provided indicates that in the past 24 hours alone, $328.73 million were liquidated, with $267.06 million coming from short positions. In its current state, the market may in fact gain momentum and enter the second phase of 2024’s bullrun.This article was originally published on U.Today More

Axelar Interchain Amplifier’s Integration With Rollkit Streamlines the Creation of Interoperable Rollups, Making it as Simple as Developing any Smart ContractThe Axelar Foundation today announced an integration with Celestia Labs that will make multichain interoperability easy for sovereign blockchains built with Celestia’s Rollkit, the first sovereign rollup framework. This integration will advance the modular thesis, simplifying multichain development for thousands of new blockchains.Celestia is the first modular blockchain network, envisioning a future with 1 million rollups. Scaling Web3 to this level with great user experience requires smart-contract capability at the cross-chain layer. Integration of Rollkit and Axelar Interchain Amplifier puts this capability into builders’ hands by introducing new interoperability toolkits that easily connect any new rollup across EVM, Cosmos, Bitcoin, Polkadot and beyond, via Axelar’s growing network of connected chains.Making rollups interoperable across the wider web3 ecosystemAxelar network, the Web3 interoperability platform, is set to enhance Rollkit via the integration of Interchain Amplifier. Built on the Axelar Virtual Machine, Amplifier ​​makes new-chain integrations permissionless and easy, automating routing and translation across Axelar’s expansive network, which today numbers 60+ interconnected chains. Interop Labs, the initial developer of Axelar network, will build the necessary smart contracts and tooling to effect the integration of Interchain Amplifier as a seamless interoperability path for builders developing on Rollkit. Any mainnet upgrades to Axelar network are subject to an on-chain vote, as are future new-chain connections that may be added via Rollkit, once the integration of Amplifier into Rollkit is complete. About Axelar networkAxelar is the Web3 interoperability platform, delivering the shortest path to scale on an open stack to connect all blockchains. Adopters include Uniswap, Microsoft (NASDAQ:MSFT) and dozens of natively multichain startups, building applications to reach all blockchain users at once – 10X as many active users as the leading Web3 application environment. Axelar supports smart contracts on a cross-chain layer that is open, scalable and secure. Backers include Binance, Coinbase (NASDAQ:COIN), Dragonfly, Galaxy and Polychain.Users can learn more here :axelar.network.About Axelar FoundationAxelar Foundation is a nonprofit established to support the growth and adoption of the Axelar network, a decentralized interoperability platform that serves multiple blockchain ecosystems. Users can learn more at axelar.foundation.About CelestiaCelestia is a modular data availability network that makes it easy for anyone to securely launch their own blockchain.About RollkitRollkit is the first sovereign rollup framework that makes deploying any VM or application as its own sovereign chain as easy as rollkit start, reducing the time to launch a sovereign chain from what used to be months to seconds.About Interop LabsInterop Labs is a leading developer of blockchain interoperability technology, used by Web3 infrastructure protocols to support scaling the next generation of internet applications to billions of users. Interop Labs is the initial developer of Axelar network. Users can learn more at interoplabs.io.ContactPR DirectorKarla VilhelemMarketWaveskarla@marketwaves.coThis article was originally published on Chainwire More

Multipool, a leading innovator in the blockchain and cryptocurrency industry, announces corporate partnership with industry-leading global connectivity provider BSO, enabling ultra-fast low latency trading on Multipool. The combined tech offers users a comprehensive suite of fully decentralized trading tools delivering the best DEX price execution in the industry.Fully utilizing BSO’s cutting-edge technology and direct access to financial market data centers, Multipool will offer the following features to users trading on the platform:Multipool provides financial traders & investors with the features of a centralized exchange on a fully compliant and stable decentralized platform for trading real-world assets (RWAs) and cryptocurrencies.Multipool’s landmark capability is its fully decentralized on-chain order book, offering the precision of a traditional order book with deep levels of liquidity, optimal price execution and exceptional trading efficiency. Other key features include decentralized limit ordering and hybrid order execution, zero price impact auctions, P2P Repo Lending and trustless RFQs (request for quotes).Stay in the knowMultipool’s vision for unlocking DeFi’s untapped potential is outlined in its whitepaper, which explains Multipool’s governance, protocol capabilities and tokenomics for its native token, $MUL.Multipool’s LBP is now live on Fjord Foundry – Fjord Foundry $MUL LBPTo learn more about Multipool and its features, users can visit:Website – www.multipool.financeTelegram – t.me/multipoolfiX – www.x.com/multipoolfiAbout MultipoolMultipool is a cutting-edge decentralized exchange (DEX) transforming the trading landscape for real-world assets (RWAs) and cryptocurrencies. Multipool is designed for fairness and equality, featuring a fully decentralized on-chain order book, deep liquidity through dynamic bracket pools, and seamless trading of RWAs and cryptocurrencies. Utilizing world-class innovations including industry-first FIX APIs, low latency networks, zero price impact auctions, trustless RFQs, peer-to-peer repo lending, and MEV bot protection, Multipool sets a new standard in DeFi trading. Experience unparalleled efficiency and security in your trading journey with Multipool – The DEX with CEX appeal.About BSOFounded in 2004 and serving the world’s largest financial institutions, BSO is a global pioneering infrastructure and connectivity provider, helping over 600 data-intensive businesses across diverse markets, including financial services, technology, energy, e-commerce, media and others.BSO owns and provides mission-critical infrastructure, including network connectivity, cloud solutions, managed services and hosting, that are specific and dedicated to each customer served.The company’s network comprises 240+ PoPs across 33 markets, 50+ cloud on-ramps, is integrated with all major public cloud providers and connects to 75+ on-net internet exchanges and 30+ stock exchanges. The team of experts works closely with customers in order to create solutions that meet the detailed and specific needs of their business, providing the latency, resilience and security they need regardless of location.BSO is headquartered in Ireland and has 11 offices across the globe, including London, New York, Paris, Dubai, Hong Kong and Singapore.www.bso.coContactPublic Relations ManagerAngie HermosaMultipoolpress@multipool.financeThis article was originally published on Chainwire More

Cardinal Cryptography, core developer of the zero-knowledge, privacy-focused blockchain Aleph Zero, announced today the launch of Common Automated Market Maker (AMM), the first mainnet release of a novel DeFi platform, Common. Positioned as a decentralized exchange (DEX), Common’s Automated Market Maker (AMM) delivers a user-friendly trading experience, complete with the built-in bridge between Aleph Zero and Ethereum, MOST, and the initial rollout of the platform’s broader capabilities. Launched on Aleph Zero, Common AMM embodies the network’s commitment to on-chain privacy, robust security, and high performance within a user-friendly framework. Key Features of Common AMM Now Live:For more information, users can refer to the latest blog post. Uses can experience seamless trading on Common AMM today and follow the development of the Common platform as it evolves to become the ultimate privacy DeFi suite. For more information about Common, users can visit https://common.fi/ and read the Common Whitepaper. Users can already try the app on the Aleph Zero Mainnet.About Aleph ZeroAleph Zero is a layer 1 blockchain engineered for speed, data confidentiality, and ease of development. It achieves efficiencies akin to conventional web2 systems, upholds rigorous standards for data protection via Zero Knowledge Proofs. Aleph Zero’s versatility is highlighted by over 40 use cases being actively developed, showcasing its adaptability across various sectors and applications. These use cases are part of an engaged community and growing ecosystem of web3 applications that are supported by Aleph Zero programs.For more information, users can visit https://alephzero.org/ For media inquiryJosh Adams, josh@serotonin.co ContactPR ManagerJosh AdamsCardinal Cryptographyjosh@serotonin.coThis article was originally published on Chainwire More

The history of the sender’s address, “bc1qc,” reveals limited information. Its initial transaction occurred in March 2024, receiving 0.002 BTC from another unidentified and now empty wallet. A closer examination of the transaction chain shows a series of exchanges between various unknown addresses over several months. This recent transaction represents a significant but not overwhelming portion of the wallet’s total holdings. Currently, 20,282 BTC, valued at approximately $1.44 billion, remain stored in “bc1qc.”Market participants often view such substantial transfers as potential indicators of a major player preparing to sell their holdings. Transferring Bitcoin to highly liquid platforms like Kraken is a common practice before executing large sales. However, it has not yet been confirmed whether this transfer will result in an immediate sell-off. The market impact of such a move could be significant given the large volume of Bitcoin involved.For now, attention remains on the rest of the large holdings in the wallet and the possible market movements that could follow.This article was originally published on U.Today More

Set to hit Mainnet this summer, Sui’s new Mysticeti protocol cuts consensus latency down to 390 ms.Sui, the pioneering Layer 1 blockchain that offers industry-leading performance and infinite horizontal scaling, today announced the successful deployment of Mysticeti, its latest consensus protocol, on Sui Testnet. This significant breakthrough reduces consensus time on Sui’s public Testnet by 80 percent at 390 milliseconds while maintaining the protocol’s industry-leading throughput. This impressive demonstration confirms that Sui is the fastest consensus layer in the industry.Developed from deep research into Byzantine fault tolerance (BFT) consensus mechanisms, Mysticeti represents a significant advancement from Narwhal-Bullshark, the consensus algorithms Sui launched into its Mainnet a year ago, achieving unprecedented transaction speeds and reducing CPU requirements for validators. This enhancement extends Sui’s impressive low latency performance to all transaction types across the network.Sui’s uniquely object-oriented architecture enables the network to process transactions differently based on the characteristics of the transaction and the objects involved. On Sui, transactions involving only “owned objects”, such as peer-to-peer transfers, do not require consensus. Instead, they follow a fast-path execution that can be completed in a shorter time. In contrast, transactions involving the same shared object, for example, transactions involving marketplaces, auctions or collaborative game assets, do require consensus. In the past, that meant more processing latencies. Mysticeti changes that, by processing shared object transactions using an optimized version of BFT consensus. The Mysticeti design involves minimal cross-validator communication and fully takes advantage of network bandwidth in order to maintain high throughput.These advancements are critical as Sui continues to cement its position at the pinnacle of blockchain speed and scale, and provide a seamless experience for developers and users at scale. ContactSui Foundationmedia@sui.ioThis article was originally published on Chainwire More

The crypto rally on Tuesday was chiefly led by Ether, with the world’s second-largest crypto asset surging more than 22% to $3,781.Adding to the speculation was a report by CoinDesk, which, citing sources familiar with the matter, said that the SEC had asked exchanges to update their 19b-4 filings on an accelerated basis, signaling potential approval of these applications ahead of a key deadline on Thursday.However, this does not guarantee the authorization of Ethereum ETFs, the report added.Issuers must also have their S-1 applications approved before the products can start trading. The SEC can take an indefinite amount of time to approve the S-1 documents, as it is not bound by a deadline, per the report.One company in discussions with the SEC reportedly suggested it might be on the right track for approval, a notable shift from weeks earlier when it felt the SEC was delaying.Bloomberg Intelligence ETF analysts hiked the odds of spot Ethereum ETF approval to 75% from 25% after hearing that the SEC might be adopting a more favorable stance toward the applications.The broader crypto market tracked Ethereum price gains. Bitcoin climbed 6% on the day, while XRP, ADA, and DOGE jumped 5.8%, 6.9%, and 10.3%, respectively.“This sudden flip in expectations is an unexpected boon for investors who have been crying out for a driver after the [Bitcoin] halving passed and bitcoin ETFs were launched in the U.S. and Hong Kong,” said Antoni Trenchev, co-founder and managing partner of Nexo.“If the spot ETH ETFs are approved, altcoins should take off as ether is often a leading indicator for the rest of the crypto market.”If the reports are true, it marks significant progress from previous expectations as many expected the SEC to deny Ethereum ETF applications this week due to concerns over the complexity and regulatory challenges associated with Ether compared to Bitcoin.The lack of a legal precedent similar to Bitcoin’s ETF approval further complicates the issue, with SEC Chair Gary Gensler recently stressing the need for investor protection and compliance with securities laws.In their comments on the aforementioned developments, Bernstein analysts said Tuesday that given Bitcoin’s 75% rally since the ETF approval, they would expect a similar surge in Ethereum prices. Moreover, they note that ETH’s free float and supply appear even more attractive than Bitcoin’s.“ETH since its transition to proof of stake, has been deflationary. Further, 38% of ETH is locked in staking, financial smart contracts and layer 2 chains – feature unique to programmable ETH and not seen with Bitcoin,” Bernstein analysts said.“66% of ETH supply has not moved in last 1 year (similar holding behavior as Bitcoin) and supply on exchanges is at all-time-low. Thus, ETH supply remains constrained by sticky investors and utility locking supply in financial smart contracts,” they added.Earlier this year, Standard Chartered (OTC:SCBFF) analysts said they expect the SEC to approve Ethereum ETFs on May 23, aligning with the timeline for Bitcoin ETFs approved in January 2024.The bank predicted significant inflows for the crypto asset, estimating 2.39-9.15 million ETH, which amounts to between $15 and $45 billion, in the first year post-approval.If approved, Standard Chartered anticipated that Ethereum prices would keep pace with BTC, maintaining the current 5.4% price ratio through 2024. Given their projection of BTC reaching $150,000 by the end of 2024, this implies an Ethereum price of around $8,000. More