Author: Maria
The cryptocurrency market has been under intense bearish pressure in recent weeks, with several large-cap assets including Bitcoin (BTC) and Ethereum (ETH) struggling to put in a positive shift. The past week was particularly drab for the two largest cryptocurrencies, as they posted double-digit losses in the last seven-day period. While the BTC price performance has cooled off in the past two quarters of 2024, the flagship cryptocurrency is still outpacing Ethereum in terms of market action. Although some of this can be attributed to ETH’s own underwhelming performance in recent weeks, a blockchain analytics company has offered insight into…
American investment company WisdomTree has requested to withdraw its Ethereum Trust registration statement three years after submission to the US Securities and Exchange Commission (SEC). This development comes a few hours after fellow asset manager VanEck closed down its Ethereum futures ETF citing a lack of demand. WisdomTree To Terminate Ethereum ETF Registration In a filing on September 6, WisdomTree approached the SEC to retract the S-1 registration form of the exchange-traded fund known as “WisdomTree Ethereum Trust”. The American asset manager first filed this registration statement on May 27, 2021, seeking to launch an ETF that offered investors exposure…
While Ethereum developers are working hard to develop on-chain scaling solutions, including Sharding, layer-2s is picking up steam. According to L2Beat, as of September 6, all these layer-2 scaling solutions managed nearly $34 billion. Ethereum layer-2 TVL | Source: L2Beat Popular as they are, most are not only emerging to be centralized but also have security concerns. Recently, the OP Mainnet had to revert to a centralized fault-proof system after finding flaws in the decentralized version. Ethereum And Its Layer-2s Are Flawed In light of these weaknesses, Justin Boons, the founder and CIO of Cyber Capital, a venture capital firm,…
The price of Cardano (ADA) could be gearing up for a substantial price rally to new highs as a crypto analyst has identified an “insane bullish divergence” in the ADA/BTC price chart. This unique technical pattern has sparked expectations of a potential 10X rally in ADA’s price. Why Cardano Price Could Surge 10X Dan Gambardello, a popular crypto analyst has relayed his optimistic projections of the price of ADA, the native token of the Cardano ecosystem. While analyzing the ADA/BTC price chart, Gambardello uncovered a bullish divergence pattern which suggests that a price rebound may be imminent for ADA. Source:…
Ethereum has witnessed a drop towards the $2,350 level as on-chain data reveals the whales have been making large exchange inflows recently. Ethereum Exchange Netflows Have Been Positive Recently According to data from the market intelligence platform IntoTheBlock, the ETH Exchange Netflow has been positive recently. The “Exchange Netflow” here refers to an on-chain indicator that keeps track of the net amount of Ethereum that’s flowing into or out of the wallets connected to centralized exchanges. When the value of this metric is positive, it means the investors are depositing a net number of tokens into these platforms. As one…
On Friday, asset management firm and exchange-traded fund (ETF) issuer VanEck announced its decision to liquidate its Ethereum Futures ETF (EFUT). According to the official release, shareholders will have the opportunity to sell their shares on the fund’s listing exchange until market close on September 16, 2024. After that date, the shares will no longer be traded on the exchange and will be officially delisted. Investors are advised that if they sell their shares prior to this date, they may incur transaction fees from their broker-dealers. What VanEck’s ETF Liquidation Means For Investors According to the notice, those who continue…
Bitcoin (BTC) is at a crucial level after a sharp 15% retrace from recent local highs. While traders and enthusiasts speculate about the causes of this downturn, the consensus is clear: demand is weakening. CryptoQuant’s head of research, Julio Moreno, has provided an in-depth analysis of the situation, relying on key market indicators and data to explain the ongoing shift. His analysis suggests that falling demand is a driving factor behind BTC’s recent price action. As the crypto market navigates this turbulent period, uncertainty is growing, making it difficult for investors to anticipate the next big move. With indecision spreading…
The sharp decline in the price of Bitcoin (BTC), the world’s largest cryptocurrency, has taken a heavy toll on short term holders. Recent reports have revealed that many of these BTC holders are now in the red, suffering losses from the cryptocurrency’s price crash and ongoing market volatility. Short-Term Holders Under Pressure On September 4, Glassnode, an on-chain market intelligence platform, released a detailed report on the financial strain short term Bitcoin holders are currently experiencing due to rising market volatility and declines in the price of BTC. Currently, short-term holders are holding Bitcoin at a significant loss, making it a potential…
The Bitcoin price trajectory in September appears to be at a critical juncture, and it carries the potential to unfold in two very different directions. After closing August on a bearish note, the leading cryptocurrency has continued to exhibit signs of weakness after September began. The early days of the month have already seen Bitcoin edging further into bearish territory, a development that could potentially signal a prolonged period of capitulation throughout the rest of the month. However, keeping in mind this is BTC we’re talking about, and we’re only three days into September, we could see the crypto bounce back…
NBA legend Scottie Pippen recently made headlines for claiming that he had dreamt of Bitcoin creator Satoshi Nakamoto telling him that the cryptocurrency would reach $84,650 by November 5. His comments have generated a lot of reactions, from some ridiculing at how outrageous such a dream can get to others questioning the timing when Bitcoin just fell to about $55,602. Pippen’s revelation follows his past correspondence with the crypto community, which included dropping an NFT collection in 2022 and indicating interest in Ethereum and Solana. Though fans on social media have poked fun of the assertion and how horrible a…