The recent news of Mt. Gox initiating repayments to creditors affected by the 2014 hack has brought both relief and concern to the crypto market. While Kraken has successfully distributed all the Bitcoin and Bitcoin Cash owed to Mt. Gox creditors, the price of these cryptocurrencies has remained stable. This stability could be attributed to
Crypto
As Ethereum’s price consolidates above the 100 and 200-day moving averages, it indicates a bullish trend in the market. The breakout above the critical 100-day moving average at $3,354 led to a period of sideways fluctuation, showing an equilibrium between buyers and sellers. The launch of spot ETH ETFs has brought upward momentum targeting the
Shiba Inu (SHIB) has been experiencing a rough patch in the past week, with its price plummeting by approximately 13%. Analysts have suggested that the downtrend may continue in the short term, as the cryptocurrency struggles to maintain its valuation. One analyst pointed out that as long as SHIB remains within the $0.0000185-$0.0000164 range, it
The recent launch of Ethereum Exchange-Traded Funds (ETFs) in the United States on July 23 has not been smooth sailing for the world’s largest crypto asset manager, Grayscale. The Ethereum Trust (ETHE) faced significant losses, with investors pulling out a staggering $484 million on the first day of trading. This trend is reminiscent of the
As the launch date for several spot Ethereum ETFs approaches on Tuesday, the cryptocurrency community is cautiously optimistic about the potential impact on Ether’s price. Despite initial excitement following the approval of the 19b-4 rule in May, Ether has seen a downward trend, leading to increased uncertainty and speculation in the market. Sensitive Market Dynamics
In early July, the Coinbase premium turned positive after a period of concern following a dip in mid-May. Research from Kaiko suggests that this shift could indicate a resurgence of institutional interest in Bitcoin. The Coinbase premium, which measures the difference between hourly bitcoin prices on Coinbase’s BTC-USD pair and Binance’s BTC-USDT pair, is a
The largest spot Bitcoin ETFs in the US have seen positive inflows recently, but the price of Bitcoin itself experienced a significant retracement. Despite reaching close to $67,000 once more, the primary cryptocurrency had a tumultuous journey in the past few days. It failed to sustain above $65,000, slipped to $63,000, rebounded to $67,500, and
Hong Kong is set to make history on July 23 with the launch of Asia’s first Bitcoin futures inverse product, the CSOP Bitcoin Futures Daily (-1x) Inverse Product (7376.HK). This innovative exchange-traded fund (ETF) by China Southern Asset Management Co., Ltd (CSOP) is specifically designed to allow investors to capitalize on declines in the price
The recent CoinShares report highlighted a substantial rise in investment in digital asset products, reaching $1.35 billion last week. This influx of capital contributed to a total of $3.2 billion over the past three weeks. Additionally, trading volumes for Exchange Traded Products (ETPs) surged by 45% week-over-week, amounting to $12.9 billion. Despite these impressive figures,
Ripple’s XRP has experienced a significant surge in price, rising by 40% in just two weeks. This sudden increase has caught the attention of analysts and traders alike, leading to speculation about the future potential of XRP. Despite a brief dip below $0.55, XRP is currently trading above $0.60, with many industry participants predicting even
