Category: Altcoins

Forex Signals – May 2: Can NFP Sustain the Market Rally?

Posted on by Skerdian Meta

Today the NFP (Non-Farm Payrolls) are expected to shed around 100K jobs, which would leave the FED dovish and stock markets bullish. Continue reading “Forex Signals – May 2: Can NFP Sustain the Market Rally?” →

Ethereum Bulls support ETH on $1.8K path

Posted on by Olumide Adesina

The altcoin has been settling between $1.74K and $1.87K for the past week. Ether is approaching its upper consolidation boundary at $1.85K.

 

Should it break and close above the daily resistance at $1,861, the rally may continue to retest its psychological importance level at $ 2 K. The daily chart’s RSI shows bullish momentum near 60, above its neutral level of 50.

On the other hand, ETH might continue to lose if it drops and closes below $1.7K, retesting its next daily support at $ 1,500

The Ethereum Exchange Supply Ratio fell sharply, indicating a change in market behavior. This decline implies that more ETH is leaving exchanges and probably going to DeFi platforms or cold storage.

Ethereum was trading at $1,836 at the time of writing. As a result of less sell-side pressure, less ETH is available for immediate sale on the market. This could raise the price shortly, with fewer coins available to facilitate trading

ETH network activity exhibits positive patterns.

The number of new addresses rose by 32 percent in the past week, which affirms an increase in investor interest. Furthermore, there has been a 6.96 percent increase in Active Addresses, indicating that current holders are active. Retail sentiment is still high, as evidenced by the 120 percent increase in Zero Balance Addresses.

Short term Bitcoin Whales Swim in Money

Posted on by Olumide Adesina

JA Maartunn, an analyst at CryptoQuant, highlighted that whales have recovered to their $90.8K break-even point. This indicates they are now profitable and less likely to sell, stabilizing the market. A short-term whale is an address that has owned Bitcoin for less than six months.

The fact that Bitcoin is now higher than its average realized price has allowed these whales to sit in aggregate profit.

Bitcoin consolidated around its key resistance level of $95K for five days, peaking at $97,400 on Thursday before breaking above it. It trades at about $97K at publication.

Bitcoin may extend its gains to retest its psychological resistance at $100,000 if it maintains its upward momentum and closes above its daily resistance at $97,700. The daily chart shows that the Relative Strength Index is at 70, close to its overbought level.

The likelihood of a pullback is high around the overbought level at 70, so traders should exercise caution. It is also possible that the RSI will continue to rise in price and remain above the overbought levels.

These participants have historically paused or lessened selling pressure when they reach profitability.

Data from the on-chain confirms this importance. Perpetual swap funding rates are still very low, suggesting that many short positions could be squeezed if buying keeps up. Long-term holders have gradually rebuilt their accumulation.

This month, the network hash rate also broke a record at 1.04 ZH/s. These indicators show that patient investors and miners are optimistic about maintaining the rally’s trajectory.

Ripple: MasterCard Calls XRP a Bridge

Posted on by Olumide Adesina

Financial institutions identify XRP as a bridge currency for cross-border payments. MasterCard explained how digital assets and blockchain-based systems are being integrated to increase the effectiveness of cross-border transfers in the report “Blockchain technology fuels new remittances business cases.”.

 

SBI Remit uses Ripple’s XRP as a bridge currency to facilitate quick and economical remittances, It is grouped with examples from MoneyGram and Stellar, which suggests that more institutions are experimenting with cryptocurrency assets for remittance solutions.

Ripple has continuously promoted XRP as a bridge asset to help with global fiat currency liquidity. This model seeks to lower foreign exchange costs and the requirement for pre-funded accounts, especially for underserved corridors.

Major financial institutions accept blockchain infrastructure as a feasible component of contemporary payment systems, as evidenced by Ripple and XRP in a MasterCard report. SBI Remit, a remittance service based in Japan, has a long history and is well-documented in its use of XRP in payment corridors throughout Asia.

However, by associating this practical use case with a reputable worldwide payments leader, the mention in an official MasterCard document lends additional credibility. Using examples from various geographical and technological contexts, MasterCard’s report aims to illustrate the trends influencing the development of remittances.

It is commonly known that the Federal Reserve is interested in modernizing and accelerating domestic and international payments. According to reports, Ripple is a member of a BIS task force on cross-border payments, supporting BIS efforts to lower costs and improve interoperability in international money transfers. The Bank for International Settlements (BIS) is the central bank of central banks.

 

MSTR Stock on Bull Run as Strategy BTC Expansion Overshadows Q1 Loss

Posted on by Skerdian Meta

MicroStrategy’s bold Bitcoin pivot continues to define its market appeal despite weak financial results, which is keeping MSTR stock bullish. Continue reading “MSTR Stock on Bull Run as Strategy BTC Expansion Overshadows Q1 Loss” →

Forex Signals May 31: AMZN Stock Boost Before Earnings as Meta Beats

Posted on by Skerdian Meta

Today we have the Amazon and Apple earnings, which follow positive results from Microsoft and Meta yesterday, with AMZN already up after hours.

Continue reading “Forex Signals May 31: AMZN Stock Boost Before Earnings as Meta Beats” →

 Cardano Calls Ethereum a Living Corpse

Posted on by Olumide Adesina

Cardano’s founder launched a scathing attack on Ethereum, claiming that the top smart contract platform will be rendered obsolete in the future.

 

Charles Hoskinson asserted that Ethereum is a victim of its success, currently facing increasing threats from internal inefficiencies and emerging competitors, drawing analogies to once-dominant digital brands like MySpace and Blackberry. He stated, “I don’t think Ethereum will survive more than 10 to 15 years.“After that, Bitcoin DeFi will surpass them.

Notably, after a disagreement with Vitalik Buterin in 2014, Hoskinson, one of Ethereum’s initial eight co-founders, claimed that the company’s course is unsustainable. He asserts that the increasing complexity of its scaling roadmap, focused on rollups and layer-2 solutions, will eventually cause the ecosystem to break apart and drive customers away.

“The TVL will surpass Ethereum once Bitcoin DeFi activates,” he continued. Hoskinson’s criticism of Ethereum is hardly the first.

He called the network a “dictatorship”, accusing Buterin of having undue influence over the platform’s evolution.

He criticized the shift away from sharding in favor of layer-2 scalability at the time, claiming that Vitalik was the driving force behind Ethereum’s overall vision.

He went on to say that Ethereum decided to “pick a king,” in contrast to Bitcoin’s straightforward and reliable protocol, and that Buterin’s choices, like supporting rollups, have resulted in a disjointed ecosystem controlled by what he refers to as “extractive L2s.” Some Ethereum proponents, however, have made the opposite claim.

Although Buterin’s influence on Ethereum’s philosophy is significant, Hoskinson underestimates the degree of decentralized governance. Community proposals (EIPs), developer conversations, and Ethereum Foundation guidelines are all incorporated into the system.

Nasdaq wants to trade Dogecoin ETF

Posted on by Olumide Adesina

The Nasdaq exchange submitted a 19b-4 form to the Securities and Exchange Commission (SEC), permitting the listing of Dogecoin ETF.
Asset management 21Shares and the House of Doge, the corporate arm of the Dogecoin Foundation, jointly filed an S-1 registration with the SEC on April 10.

The ETF aims to mimic Dogecoin’s performance as measured by the CF DOGE-Dollar US Settlement Price Index.
It is a passive investment vehicle that will directly hold DOGE. The filing states that the Trust will not accomplish its investing objective through leverage, derivatives, or similar arrangements.

Coinbase Custody Trust will act as the ETF’s official custodian and keep the fund’s tokens.

The submission coincides with the SEC delaying its decision on Bitwise’s application for a spot DOGE ETF until June 15.

Even if the concept of a Dogecoin ETF is intriguing, the SEC’s screening procedure must still be completed. Numerous applications for crypto ETFs have previously been denied or delayed by the US regulator, which is renowned for taking a cautious stance toward cryptocurrency. Bitwise’s application for another Dogecoin ETF was postponed until June 15.

The SEC might be worried about market manipulation concerns, Dogecoin’s volatility, or its lack of specific use cases when compared to cryptocurrencies like Ethereum. Nonetheless, the ETF’s open structure and Nasdaq’s support can be advantageous.

Merrill Lynch, Morgan Stanley, Wells Fargo, UBS projected dealing with Bitcoin ETF

Posted on by Olumide Adesina

Bitwise CIO Matt Hougan anticipates more demand for Bitcoin ETFs in 2025. Merrill Lynch, Morgan Stanley, Wells Fargo, and UBS  Hougan are projected to be “open for business on Bitcoin ETFs by the end of the year.”

 

Broker-dealer companies known as wirehouses provide financial services to their clients. According to Hougan, the big four do not provide exposure to US spot Bitcoin ETFs while managing over $10 trillion in client assets. He pointed out that this trend might alter in the upcoming months

Hougan also forecast that by the end of 2025, Bitcoin ETF inflows will surpass the $35 billion mark set in 2024, setting a new record.

“I still expect Bitcoin ETFs to set a new record for net inflows this year, despite pulling in ‘just’ $3.7 billion so far in 2025, compared to $35 billion in 2024,” Hougan stated.

Robert Mitchnick, Head of Digital Assets at BlackRock, offered his thoughts on the resurgence of interest in Bitcoin ETFs. He emphasized that the increase affirmed a change in “investors’ engagement,” suggesting that institutional investors are in demand.

The retail segment initially controlled a large portion of the flows following the introduction of spot Bitcoin ETFs..Mitchnick noted. Over time, though, the balance of power has changed, with wealth advisors and institutional clients now owning a larger share.

Ripple: XRP Buyout offer rejected by Circle

Posted on by Olumide Adesina

Ripple (XRP), the San Francisco-based enterprise blockchain company, recently attempted to acquire stablecoin behemoth Circle for an estimated $4−5 billion.

Circle dismissed the proposal, the USDC issuer deemed it insufficient given the value of the corporate disbursal.

Ripple (XRP) wants to capture a stake in the expanding stablecoin market. The acquisition would have strengthened Ripple’s position within the USDC ecosystem, which currently has a market capitalization pegged at $62 billion; Ripple now stands as a distinguished contender in the ever-evolving stablecoin landscape.

Last year, Ripple launched its stablecoin, the Ripple USD (RLUSD), achieving a market cap of over $300 million, with USDC is the second-largest stablecoin. Regardless, USDC’s position helps Ripple distinguish itself in the cryptocurrency markets while ranking among peers like Tether’s USDT and claiming the position of seventh-largest cryptocurrency overall.

With its IPO, Circle seems dead-set on going public, bursting from the gates in April by filing the required documents in the US. Circle refrained from capturing the media’s attention regarding “market rumors,” only focusing on commenting about public offering schemes when those details were shared with reporters following the IPO announcement.