In an interview with the Bloomberg Investment Summit, SEC Chair Gary Gensler expressed confidence in the approval process for spot Ethereum ETFs. He mentioned that the focus is currently on asset managers ensuring full disclosure in their registration statements. Despite not providing a specific timeline, Gensler stated that the process is going smoothly. There is
Crypto
The ongoing legal battle between Ripple Labs and the US Securities and Exchange Commission has been a topic of much discussion since it began in 2020. The outcome of the lawsuit, which aims to determine whether XRP should be classified as a security, could have far-reaching implications for both Ripple and the cryptocurrency market as
The recent downtrend in Bitcoin (BTC) has shown no signs of improvement, with the cryptocurrency reaching new local lows of under $59,000. This decline was particularly notable during the mid-hours of the United States Monday trading session, as BTC briefly fell below $60,000 to hit a new low of $58,500. The persistence of this slump
Recently, Bitcoin’s price has experienced a rapid decline, failing to sustain itself above the $70K level. This downward trend has been evident since the beginning of June, following a rejection from the $72K zone. As the price approaches the crucial $60K support level, there is a significant level of uncertainty in the market. The 200-day
Stablecoin transfer volumes have experienced a significant surge, reaching over $1.68 trillion in April, reflecting a remarkable increase from $100 billion in October 2020. This exponential rise showcases the growing potential of stablecoins in revolutionizing financial transactions and facilitating seamless cross-border transfers. Data from Token Terminal reveals a substantial growth in average monthly volumes, escalating
The market intelligence platform Santiment recently outlined the top 10 Artificial Intelligence (AI) cryptocurrencies that have shown the most development activity over the past 30 days. NEAR Protocol (NEAR) emerged as the leader with an index of 173.5, followed by The Graph (GRT) and Oasis Network (ROSE) with ratios of 143.5 and 101.1, respectively. Other
The AVAX native token for the layer-1 blockchain Avalanche has experienced a significant downturn, dropping more than 10% over the weekend. This slump caused the token to fall to its lowest level since December 2023, reaching an intraday and six-month low of $24.92. The overall market sentiment towards altcoins has taken a hit, with AVAX
Ripple’s ongoing legal battle with the SEC has garnered significant attention within the cryptocurrency industry. One analyst, EGRAG CRYPTO, has identified a bullish candle formation called the quarterly hammer. According to the analyst, XRP must close the next three-month candle between $0.55 – $0.58 within the next ten days to potentially trigger a “mega pump.”
The month of May saw a surge in crypto investments, totaling around $1.02 billion according to a report published by KuCoin Research. Ethereum dominated the investments with 156 public disclosures, indicating a strong interest in the digital asset. Despite facing money laundering charges, Nigerian authorities dropped tax evasion charges against Binance executives. This move was
The ongoing lawsuit between Ripple and the US Securities and Exchange Commission (SEC) has garnered significant attention within the cryptocurrency community. As the trial phase progresses, the outcome of the case could have far-reaching implications for Ripple, its native token XRP, and the broader cryptocurrency market. Potential Market Volatility If Ripple were to lose the
The 24-hour trading volume of Tether (USDT) on the TRON network has reached an impressive $53 billion, surpassing the average daily trading volume of payment giant Visa for Q1 of 2024, which stood at $42 billion. This comparison is crucial as Visa is known for being one of the largest payment processors globally, handling billions
Political-themed meme coins, such as PolitiFi tokens, have recently gained attention as speculative assets tied to the upcoming United States presidential debate. Analysts at Bitfinex have cautioned investors about the potential volatility of these tokens in the next seven days or more, as they are closely linked to the performance of candidates like President Joe
In a bold move, British multinational bank Standard Chartered has announced plans to launch a trading desk for Bitcoin and Ether. This development marks a significant step for the bank as it becomes one of the first global banks to venture into spot cryptocurrency trading. Expansion into Digital Assets Standard Chartered has been actively engaging
Bitcoin has always been a key player in driving market trends, with its influence extending to other cryptocurrencies. Recent data shows a significant shift in behavior among long-term holders of Bitcoin and Ethereum. While BTC holders have been liquidating their positions, Ethereum holders are continuing to accumulate their assets. This change in strategy is vital