Cryptocurrency

Wang stressed that the “marketing department” of Ethereum (ETH) should be put in quotes as neither the blockchain nor Ethereum Foundation has a centralized unit responsible for promotional activity.The ever-increasing range of shared sequencers, bridges, dozens of rollups makes Ethereum (ETH) too complicated to teams only interested in building secure and fast decentralized applications in a resource-efficient way.While “technocrats and academics” might find this complexity intellectually satisfying, the majority of cryptocurrency project teams remain “pragmatic”:As covered by U.Today previously, Ethereum’s (ETH) focus on L2 solutions was also criticized by Cyber Capital CIO Justin Bons. Bons the migration of focus to non-EVM blockchains like Near and MultiversX.In 2024, the crypto sphere is discussing various metrics in which Solana (SOL) surpasses Ethereum (ETH). Last week, Solana (SOL) surpassed the largest smart contracts platform in weekly stablecoin transfers.Also, in late December 2023, Solana (SOL) flipped Ethereum (ETH) as the most used blockchain for decentralized exchanges (DEXes) in daily and weekly time frames.This article was originally published on U.Today More

Pending approval, 13 companies are expected to offer ETFs, including BlackRock (NYSE:BLK), the world’s largest asset management firm.Bitcoin’s price grew significantly for most of 2023, spurred by optimism surrounding the spot ETF approval, and it now trades at about $43,622.On the contrary, Bitcoin’s price has always declined in response to pessimistic reports concerning the approval of a Bitcoin spot ETF. The most recent being on Jan. 3, when rumors of Bitcoin spot ETF rejection spooked the markets, and Bitcoin fell roughly 8%.As the crypto market eagerly awaits the SEC decision in the coming week, two possibilities are presented: the SEC might decide to approve or deny.states that regardless of what happens with the Bitcoin ETF, another bullish catalyst lies in wait this year, which is the Bitcoin halving. This bullish event, according to Ali, has historically been a catalyst for major price surges.To back up this assertion, Ali posted a graph indicating BTC’s price performance 365 days after past halvings.The first halving event, which saw BTC mining rewards slashed to 25 BTC, saw the Bitcoin price jump more than 6,000%, per the chart posted by Ali.Meanwhile, Bitcoin saw an average yearly return profile of over 400% in subsequent halving events in 2016 and 2020. While the price of Bitcoin tends to skyrocket in the months after the halving, it is important to remember that past performance does not predict future results.Bitcoin miners currently receive 6.25 Bitcoins for each successfully mined block. This reward will be halved to 3.125 Bitcoin when the next Bitcoin halving happens.This article was originally published on U.Today More

Many decided that this was a hint at the bullish for crypto.Many crypto-themed accounts, including Crypto Capital Venture founder Dan Gambardello and analyst Will Clemente started asking whether this is about the SEC approving the spot Bitcoin ETF.“Blink twice if you’re talking about the bitcoin ETF,” another crypto fan commented.No responses as to what this tweet actually meant were provided by Scaramucci.This news made the world’s flagship cryptocurrency Bitcoin collapse by nearly 7%, falling loudly from $45,366 to the $42,202 level within just several hours. Traders began liquidating their long positions and wiping $730 million worth of cryptocurrencies from the market. Major altcoins, such as Ethereum, XRP, Solana and others, also began going down in price rapidly. XRP fell the hardest, losing approximately 10% of its price.Since then, Bitcoin first managed to recover by 5.4%, rising to $44,498. By now, after another 4.25% fall and a 2.81% recovery, digital gold Bitcoin is .Many within the cryptocurrency community urged holders not to sell their Bitcoin just because of the Matrixport article. Still, experts believe the SEC is likely to green-light spot Bitcoin ETFs in January or in the first quarter anyway, naming March as another likely month for this decision.Bitcoin ETF approval is expected to bring billions of USD into the crypto space. Another major trigger for a potential Bitcoin price surge is expected to be the fourth BTC halving expected to happen in April.This article was originally published on U.Today More

Coinbase’s foray into the EU derivatives market underscores its commitment to compliance and regulatory standards. The company has emphasized its focus on adhering to strict anti-money laundering (AML) and Know Your Customer (KYC) protocols, which are crucial for operating within the EU’s financial markets.In addition to the planned acquisition, Coinbase is actively working to further cement its regulatory footprint in Europe. The company is seeking to secure a Markets in Crypto-Assets (MiCA) license by the end of 2024, which would bolster its capabilities and services in the region. Coinbase already possesses a French virtual asset service provider license, demonstrating its proactive approach to meeting regulatory requirements across the continent.This article was generated with the support of AI and reviewed by an editor. For more information see our T&C. More

In a separate incident, a resident of Dhokali in Mumbai was defrauded of Rs 27 lakh through a Facebook (NASDAQ:META) cryptocurrency scam. The victim was lured by an advertisement and subsequently tricked by an impostor claiming to be from Belgium. False confirmations and a website displaying fake profits were used to deceive the victim, who was then unable to retrieve the promised returns due to a counterfeit withdrawal link.This article was generated with the support of AI and reviewed by an editor. For more information see our T&C. More

The chart analysis reveals that after a period of consolidation within a narrowing price range — a pattern that traders often interpret as accumulation — XRP broke down dramatically. The long downward wick signifies a sharp sell-off, pushing prices to plummet swiftly. Such price action is typically indicative of a market where sellers have overwhelmed buyers, leading to rapid liquidations as stop-loss orders are triggered en masse.This sudden downturn has cast a shadow over short-term recovery prospects. With the accumulation phase nullified, the market must now grapple with the new reality of its invalidated bullish setups. This suggests that confidence in the asset’s immediate growth potential has been significantly dented, and it may take some time for investor sentiment to rebuild and for the market to stabilize.However, such drastic price movements often stir the market, leading to increased trading activity. The surge in volatility following such a drop could attract fresh funds and opportunistic traders looking to capitalize on the new lower price levels. Market participants might see this as a discount entry point, potentially injecting liquidity and driving some degree of price correction.However, the tides appear to be changing. The ETH/BTC pair has formed a “higher low” pattern. This pattern is significant as it often indicates a weakening of the previous downtrend, potentially preluding a reversal. The formation of a higher low suggests that is gaining strength relative to Bitcoin, and could be a precursor to an upcoming rally.The chart provided demonstrates this potential turning point. Ethereum’s price, while still exhibiting volatility, shows signs of stabilizing and possibly gearing up for an upward move. The convergence of the moving averages and the leveling off of the RSI suggest that the selling pressure is abating, and the momentum could be shifting in favor of bulls.If Ethereum can maintain this crucial higher low formation, it could entice risk-tolerant investors back into the market, bolstering the sentiment around the Ethereum ecosystem.The chart analysis of SHIB’s recent price action shows a dramatic sell-off, with the asset breaking down below key support levels. The price wick, extending far below the consolidation zone, suggests a rapid and large-scale exit from the asset, resulting in millions worth of SHIB being sold in a short period. The sharp downturn not only startled the market but also effectively nullified the previous accumulation phase, throwing numerous trading setups into disarray.The magnitude of this price drop could be a signal of a broader funds migration, with investors possibly steering away from high-risk meme coins like SHIB in favor of more established and “serious” assets. This shift may be part of a larger derisking trend within the crypto market, as participants seek stability amid economic uncertainty and regulatory scrutiny.This article was originally published on U.Today More

After a period of consolidation, price has plummeted, breaking through the 50 EMA, a move that traditionally signals a bearish trend. The token’s trajectory suggests it could soon encounter a crucial support level. If SHIB finds substantial support and trading volume around this level, it may very well initiate a rebound, breathing life into the hopes of its holders.However, the recent price action has brought dangerously close to the lower 26 EMA, threatening to push it into a more extended downturn. The current support level to watch is around the $0.00000950 mark. If SHIB maintains above this threshold, it might indicate a potential recovery phase.Conversely, a drop below this point could trigger further sell-offs. Resistance levels are now pegged near the $0.00001000 mark, which if breached upward, could pave the way for an optimistic trend reversal.The on-chain metrics offer a glimmer of hope, with a notable uptick in large transaction activities. This could suggest that “whales,” or large holders of SHIB, are taking advantage of the lower prices and trying to dollar cost average their holdings.Shiba Inu’s price has displayed robustness in past market cycles, remaining above key technical support levels. This enduring strength suggests that while the price has seen corrections, the underlying market dynamics still harbor a potential for recovery. Additionally, as the broader crypto market braces for potential ETF approvals, positive sentiment from such events could spill over, benefiting altcoins like SHIB.The recent chart analysis for Bitcoin reveals a notable volume surge, signaling a robust trading activity and heightened interest in the primary cryptocurrency. This surge could be attributed to the mounting speculation regarding the potential approval of a spot Bitcoin ETF, a development that is keenly anticipated by market participants. Such an approval is expected to introduce a seismic shift in the market structure, potentially ushering in a new wave of institutional investment and retail interest.While Bitcoin’s price continues to exhibit strength, it is a different story for the altcoin sector. Many alternative cryptocurrencies are struggling under the weight of market uncertainty. The vast expanse of the altcoin market is witnessing a substantial sell-off, caused by a combination of factors including profit-taking, risk aversion and a pivot toward the relative safety of .This divergence in market behavior underscores Bitcoin’s perceived role as a digital safe haven or “digital gold” in times of turbulence. Traders and investors often rally back to BTC when confidence in the broader crypto market wanes. This behavior is reflected in the resilience of Bitcoin’s price, maintaining a bullish outlook despite broader market headwinds.The current scenario serves as a stark reminder of Bitcoin’s market dominance and the influence it holds over the sentiment and capital flow within the crypto space. Should the spot Bitcoin ETF receive approval, it could further solidify Bitcoin’s status and trigger a reallocation of capital that might exacerbate the altcoin sell-off.This article was originally published on U.Today More

The firm has pledged to donate 5% of its profits from the proposed Bitcoin spot ETF to Brink, a non-profit organization focused on Bitcoin’s technological framework.This philanthropic gesture kicked off with an initial contribution of approximately $10,000. The commitment spans over a decade, signaling VanEck’s confidence in the cryptocurrency’s future and its dedication to fostering a robust and secure Bitcoin network through sustained financial support.VanEck’s proposed Bitcoin spot ETF is part of a broader industry trend, with several investment firms, including BlackRock (NYSE:BLK), Ark, and Grayscale, awaiting the SEC’s decision on similar proposals. The anticipation within the financial community is high, as decisions on these proposals are expected soon, with one such decision on Ark’s proposal slated by January 10th.This article was generated with the support of AI and reviewed by an editor. For more information see our T&C. More