Page 11234..1020..»

Top 3 Price Prediction Bitcoin, Ethereum, Ripple: BTC as low as 60K would still be a good buying opportunity – FXStreet

Bitcoin (BTC) price has crashed, and with it, altcoins have followed in a cascade of dumps that has seen over $530 million in total liquidations across the cryptocurrency market. However, the thesis remains bullish, with the current correction likely a good buying opportunity for late bulls before the next move north.

Also Read: Over $530 million in crypto positions forcibly closed as Bitcoin price dips on Friday

Bitcoin price remains below the $69,000 threshold, which had capped the upside potential for BTC since November 2021. Technicals suggest a continuation of the fall, amid a nose-diving Relative Strength Index (RSI), which suggests momentum is falling.

The histogram bars of the Awesome Oscillator (AO) are flashing green, a sign of the bears having a strong presence in the BTC market. Additionally, the volume indicator is showing large red bars, showing the downtrend is gaining strength.

Bitcoin price could extend the fall, which means investors could still have an opportunity to buy lower before a strong move north ahead of the BTC halving. One trader and analyst on X, @Cryptomanran, indicates, A 20% or 30% dip would be completely normal and healthy in a bull market, especially a month before the halving.

Nevertheless, investors are encouraged to conduct their own research. In a dire case, however, Bitcoin price could slip below the $60,000 psychological level for a liquidity grab of the March 5 low of around $59,005.

BTC/USDT 1-day chart

On the other hand, if the bulls act now, buying BTC at current levels, Bitcoin price could recover. To confirm the uptrend, investors must watch for a candlestick close above $64,044, the mean threshold of the supply zone between $71,290 and $73,193. Such a move would clear the path for BTC to reclaim the $70,000 psychological level, or higher to clear the $73,777 peak before a new all-time high.

Also Read: Bitcoin price slumps further from Thursday's record high above $73K

Ethereum price is nose-diving, taking direct cues from BTC despite the recent Dencun Upgrade, which was expected to be a bullish fundamental to positive impact ETH price. With technicals flashing bearish, Ethereum price could extend the fall to test the $3,527 support.

If the aforementioned level fails to hold as support, Ethereum price could slip past this buyer congestion level, potentially going as low as the $3,200 level, a 12% drop below the current price.

ETH/USDT 1-day chart

Conversely, a re-entry by the bulls could see Ethereum price recover. A flip of the formidable resistance due to the equal lows of $3,722 into support after a strong spike in bullish momentum would improve the chances of continuing the uptrend. This development could result in ETH heading straight to the $4,093 range high.

Also Read: Ethereum L2 bridge deposits skyrocket after Dencun Upgrade

Ripple price is down 15% after a peak of $0.7440 on March 11. Amid falling momentum and a downtrend that is gaining strength, XRP price could extend the fall 7% to $0.5740 before a possible recover.

However, in a dire case where this level fails to hold, Ripple price could extend lower to the $0.5368 support level where the bulls could have another buying opportunity.

XRP/USDT 1-day chart

On the other hand, if bullish momentum increases, Ripple price could reverse the direction. A move above the $0.700 psychological level would inspire more buy orders, reinvigorating the trend for XRP price to clear the $0.7500 range high.

In a highly bullish case, Ripple price could reach the $0.8000 psychological level. Such a move would denote a 27% climb above current levels.

Also Read: XRP price plummets to $0.67 as holders brace for SEC vs. Ripple lawsuit deadline

Bitcoin is the largest cryptocurrency by market capitalization, a virtual currency designed to serve as money. This form of payment cannot be controlled by any one person, group, or entity, which eliminates the need for third-party participation during financial transactions.

Altcoins are any cryptocurrency apart from Bitcoin, but some also regard Ethereum as a non-altcoin because it is from these two cryptocurrencies that forking happens. If this is true, then Litecoin is the first altcoin, forked from the Bitcoin protocol and, therefore, an improved version of it.

Stablecoins are cryptocurrencies designed to have a stable price, with their value backed by a reserve of the asset it represents. To achieve this, the value of any one stablecoin is pegged to a commodity or financial instrument, such as the US Dollar (USD), with its supply regulated by an algorithm or demand. The main goal of stablecoins is to provide an on/off-ramp for investors willing to trade and invest in cryptocurrencies. Stablecoins also allow investors to store value since cryptocurrencies, in general, are subject to volatility.

Bitcoin dominance is the ratio of Bitcoin's market capitalization to the total market capitalization of all cryptocurrencies combined. It provides a clear picture of Bitcoins interest among investors. A high BTC dominance typically happens before and during a bull run, in which investors resort to investing in relatively stable and high market capitalization cryptocurrency like Bitcoin. A drop in BTC dominance usually means that investors are moving their capital and/or profits to altcoins in a quest for higher returns, which usually triggers an explosion of altcoin rallies.

View original post here:

Top 3 Price Prediction Bitcoin, Ethereum, Ripple: BTC as low as 60K would still be a good buying opportunity - FXStreet

Read More..

Ethereum Price Grinds Lower, Why Pullback Is Not Over Yet – TradingView

Ethereum price started a downside correction below $3,650. ETH traded below $3,500 and is currently attempting a decent recovery wave in the near term.

Ethereum Price Dips

Ethereum price started a downside correction below the $3,800 and $3,700 levels, like Bitcoin. ETH declined below the $3,650 support level to enter a short-term bearish zone.

It even spiked below the $3,500 support zone. A low was formed at $3,414 and the price is now attempting a recovery wave. There was a move above the $3,500 level. Ether climbed above the 23.6% Fib retracement level of the downward move from the $4,084 swing high to the $3,414 low.

Ethereum price is now trading below $3,700 and the 100-hourly Simple Moving Average. On the upside, immediate resistance is near the $3,650 level. There is also a key bearish trend line forming with resistance at $3,660 on the hourly chart of ETH/USD.

The first major resistance is near the $3,750 level or the 50% Fib retracement level of the downward move from the $4,084 swing high to the $3,414 low. The next major resistance is near $3,830, above which the price might gain bullish momentum.

Source: ETHUSD on TradingView.com

In the stated case, Ether could rally toward the $3,925 level. If there is a move above the $3,925 resistance, Ethereum could even rise toward the $4,000 resistance. Any more gains might call for a test of $4,080.

More Losses In ETH?

If Ethereum fails to clear the $3,650 resistance, it could start a fresh decline. Initial support on the downside is near the $3,520 level.

The first major support is near the $3,500 zone. The next key support could be the $3,420 zone. A clear move below the $3,420 support might send the price toward $3,350. Any more losses might send the price toward the $3,250 level.

Technical Indicators

Hourly MACD The MACD for ETH/USD is losing momentum in the bearish zone.

Hourly RSI The RSI for ETH/USD is now below the 50 level.

Major Support Level $3,500

Major Resistance Level $3,650

Read this article:

Ethereum Price Grinds Lower, Why Pullback Is Not Over Yet - TradingView

Read More..

Best Ethereum ETFs of March 2024 – USA TODAY

There is reason to be excited about ethereum, which surpassed the $4,000 threshold in early March for the first time since December 2021.

If you want exposure to the cryptocurrency, the second-largest by market capitalization, you can invest through your brokerage account via ethereum ETFs.

To pinpoint the best ethereum ETFs of 2024, our team evaluated the current offerings in this emerging niche. We considered factors crucial for short-term and long-term investing, including expense ratios, assets under management, tax efficiency and bid-ask spread. A lower bid-ask spread indicates better liquidity and lower trading costs and thats better for you.

Why trust our investing experts

Experienced fund analysts select our best fund selections based on a screening of several must-have metrics. Some of these metrics include but are not limited to assets under management, expense ratio, strategy, management, minimum investment requirements, turnover and fees. You can read more about our methodology below.

We looked at ETFs that provide ethereum exposure through futures. Thats because the Securities and Exchange Commission still needs to approve spot ethereum ETFs. Futures are derivatives that bet on the future price of ethereum as opposed to the current spot price.

Fund managers ARK Investment Management, 21Shares, Franklin Templeton and BlackRock have submitted prospectuses for spot ethereum ETFs, indicating a growing interest in providing direct exposure to ethereum.

Our ranking of the best ethereum ETFs was created by applying a screen of several must-have metrics:

An experienced ETF analyst selected the funds above, but they may not be right for your portfolio. Before purchasing any of these funds, do plenty of research to ensure they align with your financial goals and risk tolerance.

The selection pool for ethereum ETFs was relatively limited, prompting us to adjust our criteria while maintaining a rigorous selection process to ensure we presented the best options.

A key factor in our evaluation was the expense ratio, for which we set a strict ceiling of 1%, net of waivers. Recognizing the inherently higher costs associated with ethereum futures, we aimed to identify ETFs that offer competitive pricing.

This led to the exclusion of certain funds, including the Valkyrie Bitcoin and Ether Strategy ETF (BTF), which has an expense ratio of 1.24%.

We set a 30-day median bid-ask spread limit of 0.40% to accommodate the unique market dynamics of ethereum ETFs. This wider threshold than typically applied for equity ETFs reflects the need to balance liquidity concerns with the less liquid nature of ethereum futures holdings.

We also applied an AUM threshold of $5 million to ensure chosen ETFs were not at significant risk of closure, a lower standard than usual but necessary under the circumstances.

Lastly, we capped the maximum 30-day SEC yield at 4% to minimize tax inefficiencies. The frequent turnover of futures contracts within these ETFs can lead to capital gains distributions, which can be a drag on performance outside tax-advantaged accounts like Roth IRAs.

Our top pick for the best ethereum ETF is the ProShares Ether Strategy ETF, distinguished by its leading position with the highest AUM at $77 million. It also boasts a reasonable 0.12% bid-ask spread, underscoring its liquidity and the ease with which investors can enter and exit positions. Furthermore, it has the distinction of being the first U.S.-listed ethereum futures ETF, making it a pioneer in the space.

While the ProShares Ether Strategy ETFs 0.95% expense ratio of is higher than the VanEck Ethereum Strategy ETFs 0.66% expense ratio, the latters bid-ask spread of 0.33% elevates the total cost of ownership, particularly if you plan to buy and sell.

So, despite the slightly higher expense ratio, the ProShares Ether Strategy ETF offers a more cost-effective and liquid option for investors looking to gain exposure to ethereum through their brokerage accounts.

Buying ethereum ETFs follows the same straightforward process as purchasing a regular stock or ETF:

Investing in ethereum ETFs should be a careful process, aligning with your risk tolerance and objectives. Reflect on these questions:

As of March 18, the largest ethereum ETF is the ProShares Ether Strategy ETF (EETH), with $77 million in AUM.

Ethereum ETFs can be a suitable investment for those seeking indirect exposure to ethereum prices without the complexities of self-custody or navigating a cryptocurrency exchange. These ETFs can be held in standard brokerage accounts and traded like any other stock, offering a familiar and accessible way to invest indirectly in ethereum.

But there are downsides. One potential issue is a misalignment with the spot price of ethereum due to the use of futures contracts and the fact that ethereum trades 24/7, whereas these ETFs are limited to market hours.

Additionally, investors should be prepared for volatility associated with ethereum and the broader cryptocurrency market. High expense ratios compared to traditional ETFs also add to the cost of investment, which should be weighed against the potential benefits.

Originally posted here:

Best Ethereum ETFs of March 2024 - USA TODAY

Read More..

Ethereum Could Top $14,000 Next Year Alongside Bitcoin Boom: Standard Chartered – Decrypt

British multinational Standard Chartered isnt just bullish on BitcoinEthereum is also going to the moon, its analysts say.

A Monday report from the bank claimed that the second-biggest digital asset could hit $8,000 by the end of this year, and $14,000 is possible by the time 2025 is up.

If, that is, spot Ethereum exchange-traded funds (ETFs) get approved, Geoffrey Kendrick, head of forex and crypto research at the firm, said in the note.

The price of Ethereumis currently hovering slightly above $3,500 per coin, CoinGecko data shows.

Several high-profile fund managers have filed paperwork with the Securities and Exchange Commission (SEC) to release Ethereum ETFs. Such investment vehicles would expose traditional investors to the cryptocurrency via shares that trade on a stock exchange.

Kendrick wrote in the note that the bank expects the ETFs to get the green light from the SEC by the summer.

Ethereum is currently between two important events that we see driving price upside, wrote Kendrick. It has just had a structurally significant upgrade, and U.S. regulatory approval of ETH ETFs is expected in May.

Kendrick also said that the networks recent Dencun upgrade could be the reason for Ethereum shooting up rapidly.

The network behind the second-biggest cryptocurrency was upgraded last week. Developers say the improvement will make transaction fees on the blockchain super cheap.

Kendrick added that the upgrade and lower costs on the network make Ethereum more competitive.

Standard Chartered said in a different research note Monday that Bitcoin could hit $150,000 per coin by the end of this year if the newly approved ETFs continue to be popular.

In January, the U.S. Securities and Exchange Commission in January approved 11 of the investment vehicles.

They have so far been hugely popular with investorsand the massive inflows have pushed the price of Bitcoin up significantly.

Edited by Ryan Ozawa.

Read more:

Ethereum Could Top $14,000 Next Year Alongside Bitcoin Boom: Standard Chartered - Decrypt

Read More..

SOL From $9 to $200: Can Solana Repeat Ethereum’s 2020-2021 Rally? – TradingView

Key points:

Amidst Bitcoins ongoing cryptocurrency market boom Solana (SOL) has climbed to $204 with a staggering 2000% growth from $9 at the beginning of 2023. An independent analyst with the X handle Hansolar speculated that Solana could repeat the great ETH surge of 2020-2021 bull market.

When SOL takeoff?

SOL

Assuming SOL is the new ETH this cycle, I think SOL really takes off later than BTC and ETH.

Previously ETH took off when BTC actually broke out into ATHs.

It's then when retail buys into SOL as the high beta catch up play.

Currently SOL is at around pic.twitter.com/mwyhJ5DO6m

Hansolar has sparked optimism in the community suggesting that Solanas price could soar to $600, drawing parallels to Ethereums remarkable ascent during the previous crypto market bull run. Ethereums price surged from around $85 to a staggering $4,935 following Bitcoins uptrend in 2020-2021, a surge of approximately 1,400%.

Bitcoin is set for an extended bull run above its November 2021 ATH of $69,000 and Hansolar believes Solana stands to benefit similarly.

Assuming SOL is the new ETH this cycle, I think SOL takes off later than BTC and ETH. Previously ETH took off when BTC broke out into ATHs.

The fundamentals of Solana indicate a promising outlook. The total-value-locked (TVL) across its ecosystem has reached 20.51 million SOL, its highest level since January 2023. Solana also surpassed Ethereum and other Ethereum Virtual Machine (EVM)-based Layer-2 solutions in 24-hour transaction volume, with Solanas $3.654 billion outdoing Ethereums $2.397 billion.

Solana broke the $200 band earlier on Monday morning. With a bullish outlook, the chart indicates $257 as its next target.

Originally posted here:

SOL From $9 to $200: Can Solana Repeat Ethereum's 2020-2021 Rally? - TradingView

Read More..

What Will Come First for ETH: $3,000 or $4,000? (Ethereum Price Analysis) – CryptoPotato

Our website is a comprehensive guide to digital currency investing & trading.Here are a few suggestions to get started, and get the most from us:

Begin with Bitcoin for Beginners.

Get the edge with our exclusive Bitcoin and cryptoguides.

Check out our Crypto YouTube channel, that includes beginners and advanced tutorial videos and market updates. Dont forget to subscribe!

Originally posted here:

What Will Come First for ETH: $3,000 or $4,000? (Ethereum Price Analysis) - CryptoPotato

Read More..

Ethereum (ETH) Price Prediction For 2023, 2025 And 2030 Forbes Advisor INDIA – Forbes

In the world of virtual or digital assets, people often talk most about the trending and most popular cryptocurrency Bitcoin, but also closely keep an eye on Ethereum which is regarded as the worlds second largest cryptocurrency. There is no doubt that ETH is overshadowed by the worlds largest cryptocurrency BTC, but surely it has plenty to offer.

Crypto enthusiasts generally look at ETH as much more than just a digital token and believe it has a huge intrinsic value that offers unique earning opportunities for its investors.

Featured Partners

Legacy

Over 1 Million Investors Trust Mudrex for Their Crypto Investments

Security

Mudrex is Indian Govt. recognized platform with 100% insured deposits stored in encrypted wallets

Fees

Enjoy zero crypto deposit fees and industry's best fee rates.

Multiple Award-Winning Broker

Listed On Deloitte Fast 50 index, 2022 Best Global FX Broker - ForexExpo Dubai October 2022 & more

Best-In-Class for Offering of Investments

Trade 26,000+ assets with no minimum deposit

Customer Support

24/7 dedicated support & easy to sign up

Welcome Bonus On First Deposit:

Get $30 in your verified trading account on your first deposit.

Variety:

Trade CFDs in crypto, forex, stocks, metals, commodities & more!

Intuitive & Cheap:

Designed for traders of all levels, from beginners to professionals.

Please invest carefully, your capital is at risk

Lets dig deep into this guide to see what Ethereums future holds and whether it will continue to gain momentum in the coming years.

The worlds largest altcoin and the second-largest cryptocurrency, Ethereum, holds significance beyond being just a crypto token. It is widely recognized outside the crypto community for its advanced features and innovative blockchain solutions.

ETH operates as an open-source blockchain with smart contract functionality, primarily applied in the realm of decentralized finance (DeFi). Ethereum functions more like a network that is continually updated and maintained by validators who receive ETH as compensation for their contributions and efforts.

Many experts envision ETH reaching a valuation of $40,000 by 2030. While this might seem ambitious, it is not entirely implausible. Several compelling factors, such as its comprehensive market strategy, unique model, scalability solutions, and leadership in various decentralized applications, have positioned ETH at the forefront of the cryptocurrency landscape.

Ethereum has played a vital role in expanding blockchain technology, offering blockchain projects, faster transactions, enhanced efficiency and decentralized applications to industries across the globe. Lets take a look at the key use cases of ETH which are extensive and expanding at a very fast pace:

In short, there are many sectors in which Ethereum is creating value and offering utility. Industries from entertainment to real estate and even the healthcare sector, are creating apps and tools based on the blockchain solutions provided by ETH.

To understand where Ethereum will go next and to gain a better understanding of its forecast, you need to first comprehend its unique model, which is unlike other cryptocurrencies.

The network began its operation by using a consensus mechanism which initially involved proof-of-work, but in 2022 it switched to proof-of-stake. The PoS consensus mechanism is considered to be extra secure which tends to use less energy and is much more efficient for implementing scaling solutions as compared to the previous model.

The validators are allowed to stake capital in the form of Ethereum in the current model and join the network where this stake ETH acts as collateral. Once it is activated, validators receive new blocks from their peers on the ETH network, then they are responsible for sending it out to other nodes on the network.

Furthermore, validator nodes vote on the validity of a new block of transactions, thus it collectively ensures that new blocks are authentic and in force before adding them permanently to the main blockchain. Then, out of these nodes, one node is selected as the block proposer for the current time slot, which is highly responsible for building the new block of transactions.

A PoS is much better than PoW, as it does not use heavy computational power to solve a riddle. But, in the PoS system, the node validates the new transactions itself and stakes its value as collateral. These nodes then run competently to avoid losing that collateral.

With the merge now complete after years of hard work, Ethereums transition to PoS is finally active. Now with this crucial change, the Ethereum network instead of using miners started to use validators to approve, create and add blocks to the blockchain.

Ethereum holds a bright future as it is not just a transactional currency but eventually, it is on the path of establishing itself as a store of value for those entities which are looking to optimize their wealth. ETH functions very well with DApps, NFTs, smart contracts, and DeFi and the list keeps growing every year.

As long as the network keeps becoming stronger and the ETH team continues to develop innovative features, its investors will likely continue to grow in the years to come. Lets check out the long-term price predictions of Ethereum.

As of March 13, 2024, Ethereum is trading at $4,053, boasting a market capitalization of $486.33 billion. The currency has exhibited significant growth following the Shapella upgrade in April 2023, experiencing a substantial increase from $2,100 to $4,000. The ongoing interest in Spot Bitcoin ETFs, spurring anticipation Ethereum ETFs may also get an approval, the Bitcoin halving event and the Dencun upgrade that is live at around 7:30 PM IST are factors that have fanned the growth of ETH.

The average trading price for Ethereum is anticipated to be around $4,000, with the potential to surpass its all-time high by the end of the month.

Read more about the Dencun upgrade: Why is Ethereum Going Up Today?

According to Cryptonewz, by the end of the current year 2024, ETH will touch $5,000. By the year 2025, Ethereum is expected to reach the maximum level of $6,500 with a minimum of $ 4,500 and an average of $5,500. And by the year 2030, it is expected that it may go up to a maximum of $20,500.

The current year will witness the Dencun upgrade, which is anticipated to positively boost the value of ETH. Also, Bitcoin Halving can also be a contributing element to the growth of the ETH trading value. If ETH keeps on growing, it has the potential to overcome its all-time high.

According to the CoinDCX blog, it is anticipated that 2024- a bullish year-end may lay a firm foundation for ETHs upward movement. The upswing could intensify, potentially pushing prices to surpass the crucial $10,000 and setting a new all-time high. But, bearish activity could increase as these levels are breached leading to promoting a modest pullback. By the year-end, the pullback will witness a downtrend and eventually the year will close in the range of $5,000.

At the beginning of the year 2030, ETH price could reclaim its position of $10,000 and probably above the level, establishing a robust upward trend. ETH might even bypass this all-time high of around $12,000 levels and set a new record. But, again after reaching this peak, a crucial pullback might ensue. The year for ETH will reflect the dynamic interplay of encompassing bullish surges, market forces and bearish adjustments. By the end of the year, it might range around $9,000 to $9,500.

Given the highly volatile nature of the crypto market, various possibilities exist in the realm of cryptocurrencies, including the potential for Ethereum to surpass Bitcoin. As witnessed in 2021, ETH outperformed BTC, gaining nearly 400% compared to Bitcoins 66%.

Experts acknowledge that due to several use cases and its unique blockchain, Ethereum has a stable future, and there is a chance it may perform exceptionally well compared to Bitcoin. However, it is considered highly unlikely for Ethereum to surpass the price of Bitcoin. Nevertheless, ETH has the potential to reach a comparable market capitalization with BTC, notably due to its uncapped supply, unlike Bitcoin.

Featured Partners

Legacy

Over 1 Million Investors Trust Mudrex for Their Crypto Investments

Security

Mudrex is Indian Govt. recognized platform with 100% insured deposits stored in encrypted wallets

Fees

Enjoy zero crypto deposit fees and industry's best fee rates.

Multiple Award-Winning Broker

Listed On Deloitte Fast 50 index, 2022 Best Global FX Broker - ForexExpo Dubai October 2022 & more

Best-In-Class for Offering of Investments

Trade 26,000+ assets with no minimum deposit

Customer Support

24/7 dedicated support & easy to sign up

Welcome Bonus On First Deposit:

Get $30 in your verified trading account on your first deposit.

Variety:

Trade CFDs in crypto, forex, stocks, metals, commodities & more!

Intuitive & Cheap:

Designed for traders of all levels, from beginners to professionals.

Please invest carefully, your capital is at risk

Several crypto experts have analyzed the performance of Ethereum since its inception and knowing its capabilities they strongly believe that ETH is here to stay because of its firm fundamentals and potentiality.

The continuous growth of Ethereum and its constant upgrades has led many to predict that this year 2024 and upcoming years will be great for the token as rising confidence in the technology and blockchain solutions will surely let ETH to the moon and investors holding ETH for long will not be wrecked.

Read more:

Ethereum (ETH) Price Prediction For 2023, 2025 And 2030 Forbes Advisor INDIA - Forbes

Read More..

Solana Tops Ethereum in Volume: Is This the Real Flippening? – CCN.com

Key Takeaways

Solanas performance is making headlines as it has outpaced Ethereum in terms of trading volume. Users associate flippening with a hypothetical scenario where Ethereum will surpass Bitcoin in terms of market capitalization. Is the ETH competitor signaling a shift in dominance before that happens?

Solanas trading volumes and network activity are competing to be on the top. Market data has revealed that Solana has seen a dramatic increase in daily active addresses, surpassing every other blockchain in this metric. The uptick in activity is largely attributed to the widespread interest in memecoins. Meanwhile, the on-chain volume for Solana has exceeded that of Ethereum.

Accordingto Dexscreener, Solanas 24-hour volumes on March 18 are over $5.3b while Ethereum stands at 1.85b. In terms of transactions, ETH is way behind close to 250k while Solana has exceeded 7.6m during the same period.

At the time of writing, Solana has 4.3b dollars locked based on DefiLlamadata. Ethereum is the dominating chain with $51.8b TVL. However, Solana has emerged as the top non-EVM chain. A non-EVM chain operates without the Ethereum Virtual Machine, employing alternative systems for smart contract execution.

In terms of price, Solana has also surpassed the Binance Coin (BNB). Based on CoinGeckodata, SOL has secured the position as the fourth-largest crypto by market capitalization.

At press time, the market capitalization has gone north of $91b, almost $6b above BNB.

Databy Token Terminal reveal that Solanas 30-day fee collection and revenue, both have seen over 75% increase. The numbers are positive for the annualized fees for the chain as well. Daily active users at 2m have seen almost a 380% increase.

Transactions per second (TPS) or the number of transactions SOL can process in one second is over 2,300 on March 18.

Tristan Frizza, co-founder of Zeta Markets, a crypto perpetual exchange powered by Solana remarked on the chains achievements.

Frizza said, Solanas all-time high in daily new addresses and transactions surpassing that of Ethereum and its L2s, is a testament to the blockchains resilience, speed, and the faith of its community.

The executive added, This isnt merely about one blockchain outperforming another; its about the democratization of access to DeFi, the realization of blockchains true potential, and the dawning of a new era where speed, security, and ease of use become the bedrock of digital finance.

He believes this milestone is not just about one blockchain outperforming another but represents a broader shift towards the democratization of DeFi and a new era of digital finance. Frizza said, Just as weve witnessed institutional interest drive Bitcoins ETF approvals, Solanas robust fundamentals and genuine user activity position it as a frontrunner in the race for broader adoption.

While decentralized exchange (DEX) trading volume underpins Solanas surge, the Google Trends are also in its favor.

Solanas search interest hasreportedlyreached an all-time high.

Despite the opportunities presented by trading memecoins on the eco-friendly chain, users should pay attention that not all ventures end in profit.

Solanas overtaking of Ethereum in trading volume marks a potential flippening event. With its swift growth and rising adoption, SOL challenges Ethereums dominance in the smart contracts front, already securing fourth place with favorable returns for investors. However, the aftermath of Ethereums Dencun upgrade which promises lower fees is ensuring the competition between these two chains remains fierce.

Was this Article helpful? Yes No

Original post:

Solana Tops Ethereum in Volume: Is This the Real Flippening? - CCN.com

Read More..

Standard Chartered Predicts Up To $45 Billion Inflows To Ethereum ETFs Within 1 Year – Cryptonews

Last updated: March 18, 2024 16:16 EDT | 1 min read

British multinational bank Standard Chartered expects Ethereum (ETH) to outperform Bitcoin (BTC) after spot ETFs for the former are approved by regulators in May of this year.

In a Monday research note, the bank waxed extra bullish on both assets, upping its previous Bitcoin cycle top prediction from $150,000 to $250,000 in 2025. Ethereum could climb over 4X to $14,000 per unit, following a 12-month tsunami of up to $45 billion in ETF inflows.

We estimate that spot ETFs will drive inflows of 2.39-9.15 million ETH in the first twelve months after approval, wrote the banks analyst Geoff Kendrick. In USD terms, that equates to roughly $15 billion to $45 billion.

The figure, Kendrick noted, mirrors his inflow expectations for Bitcoin spot ETFs in market cap-adjusted terms. Since launching on January 11 following a split-decision SEC approval, net inflows to the U.S. Bitcoin spot ETFs have totaled over $11.9 billion despite non-stop outflows from the Grayscale Bitcoin Trust (GBTC).

Given the current pace, the bank has revised its end-of-2024 Bitcoin price prediction from $100,000 to $150,000, with $200,000 marking the new midpoint for a sideways trading range at the end of 2025. This price would align with a two-asset optimization scenario where Bitcoin takes up 20% of investors allocation to gold within their portfolios.

Meanwhile, Ethereum is expected to either keep pace with or outpace BTC over the next two years, moving from its current 5.4% price ratio against the leading crypto in 2024, to the 7% ratio in the following year, which it held in 2021 and 2022.

This would imply a USD level of 8000 for ETH, the bank wrote as its end-of-2024, price prediction. For 2025, based on its BTC expectation of 200,000, it expects an ETH price of $14,000.

While Standard Chartered anticipates Ethereum ETF approval by May, several analysts have grown much less optimistic about the idea given regulators seeming lack of communication on the matter.

Our odds of ETH ETF approval by May deadline are down to 35%, wrote Bloomberg ETF analyst Eric Balchunas to X last week. All the signs/sources that were making us bullish 2.5mo out for BTC spot are not there this time.

Go here to see the original:

Standard Chartered Predicts Up To $45 Billion Inflows To Ethereum ETFs Within 1 Year - Cryptonews

Read More..