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Spot Ethereum ETF issuers still waiting on SEC for first round of S-1 comments: Sources – The Block

June 17, 2024 | Author: admin

Funds June 10, 2024, 7:15PM EDT Published 5 minutes earlier on

Prospective spot Ethereum ETH -2.60% ETF issuers are still waiting on the SEC to provide comments on their S-1 filings after they submitted first drafts on May 31, according to two sources.

The issuers had been anticipating the SEC would provide comments on these drafts on June 7, according to one source based on conversations with the agency. Yet, at least two issuers have not received anything yet. One source said they now anticipate comments to come back this week.

This comes after SEC Chair Gary Gensler said on CNBC that the approvals of the S-1 forms would take some time.

Its unclear exactly how long the process will take. One source previously told The Block that they expect the S-1 forms to go through at least two more rounds of draft filings before they are ready.

The S-1 forms are the second step in a two-step process toward making the spot Ethereum ETFs go live for trading. The first step was the approval of the 19b-4 forms, which happened on May 23.

The draft filings also reveal a few details. BlackRock is seeding its ETF with $10 million, while Franklin Templeton plans to start with a 0.19% fee.

When the spot Ethereum ETFs go live, a key question will be whether they can try to replicate the success of the spot Bitcoin ETFs. Bitfinex Head of Derivatives Jag Kooner estimates that they will bring in around 10-20% of the flows that have been going into spot Bitcoin ETFs.

Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures.

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Spot Ethereum ETF issuers still waiting on SEC for first round of S-1 comments: Sources - The Block

Ethereum powered by BlackRock: A 100 million alliance that changes everything – Cointribune EN

June 17, 2024 | Author: admin

Sat 15 Jun 2024 3 min of reading by Ariela R.

The world of traditional finance is in the midst of a transformation with BlackRocks decision to favor public blockchains, especially Ethereum, for its blockchain-based financial products. This major shift marks a turning point in the adoption of public blockchains. It also opens the door to a deeper integration of this technology into the workings of financial markets.

Until now, BlackRock tended to favor private blockchains. However, experience has shown that public blockchains, like Ethereum, offer significant advantages in terms of transparency, accessibility, and governance.

Transactions on Ethereum are visible to everyone, allowing investors to track capital flows in real-time and ensure the proper execution of operations. This increased transparency is essential for:

Public blockchains (like Ethereum) are open to everyone. This allows anyone to participate in the network and interact with decentralized applications (dApps) built on them. This open accessibility fosters innovation and the creation of new financial products.

Ethereum and all other public blockchains are managed in a decentralized manner.

Explanation: users have a say in the development and evolution of the platform. This participatory governance promotes accountability.

To solidify its commitment to public blockchains, BlackRock launched its first tokenization project on the Ethereum blockchain.

This project involves converting a traditional investment fund, Institutional Digital Liquidity, into digital tokens based on Ethereum. These digital tokens, denominated in USD Coin (USDC), provide investors with transparent and secure access to portfolio diversification.

BlackRocks decision to adopt Ethereum is a strong signal of the growing maturity of the cryptocurrency market.

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Je m'appelle Ariela et j'ai 31 ans. J'oeuvre dans le domaine de la rdaction web depuis maintenant 7 ans. Je n'ai dcouvert le trading et la cryptomonnaie que depuis quelques annes. Mais c'est un univers qui m'intresse beaucoup. Et les sujets traits au sein de la plateforme me permettent d'en apprendre davantage. Chanteuse mes heures perdues, je cultive aussi une grande passion pour la musique et la lecture (et les animaux !)

DISCLAIMER

The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.

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Ethereum powered by BlackRock: A 100 million alliance that changes everything - Cointribune EN

Ethereum Price Forecast: Volatility Ahead amid Surge in ETH Sell Pressure – The Crypto Basic

June 17, 2024 | Author: admin

Ethereum price rapidly tumbled to a 25-day low of $3,428 on June 13, 2024, amid intense volatility in the wake of the US Fed rate pause announcement; on-chain data trends suggest more downside ahead.

The crypto market has been in a consolidation phase for the better part of the past month. During that period, ETH managed to outperform the market average thanks to bullish tailwinds from the ETF approval from the US SEC in late May.

However, three weeks after the official approval verdict, the fund sponsors are still stuck, making final adjustments to filings before the official market listing of the Ethereum ETFs.

After another week of little progress, with no tentative listing date in sight, investors now seem to be growing impatient. This led to a major price downswing on June 14, after the US Fed announced a hawkish rate pause, ending hopes of an H1 2024 cut as many bullish analysts had expected.

As seen above ETH price fell 9.71% within the weekly time-frame, surrendering most of gains earned in the wake of the ETF approval. The chart shows that as ETH tumbling towards $3,362 on June 14, before rebound towards the $3,550 mark at the time of writing on Saturday June 15.

But notably, the last time ETH price traded below $3,400 was May 21, before the rally that greeted the de-facto ETH ETF approval news broken by the Bloomberg Analysts. This shows that the delays surround the ETFs official launch has adversely impacted demand for Ethereum this week, raising the risk of more price downside.

Evidently, the recent Ethereum market demand is now in decline as bulls have grown fatigued amid the 3-week hiatus around the official ETH ETF launch.

However, looking at the on-chain data, recent activity among existing ETH holders shows the market volatility may not be over yet.

Santiments Mean Coin Age data tracks the average amount of days that all ETH coins in circulation have spent in their current addresses. A decline in Mean Coin Age occurs when a large number of long-term holders are actively selling, and vice versa.

The chart above illustrates how the ETH Mean Coin Age (365d) has been in a rapid decline since May 29, as it became evident that the Ethereum ETFs would take weeks to launch after the official SEC verdict on May 24.

Between May 29 and the time of publication on June 15, Ethereums mean coin age has declined 10% from 172.23 to 164 average days held.

Such a significant decline within a short period shows a growing selling trend among long-term Ethereum investors who had previously held their coins unmoved for one year or more. This suggests that they have been selling their coins behind the scenes, capitalizing on the price surge in the aftermath of the ETF approval.

With a significant number of coins locked-up for over year now is circulation again, ETH price is likely to experience more volatility in the days ahead.

Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basics opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.

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Ethereum Price Forecast: Volatility Ahead amid Surge in ETH Sell Pressure - The Crypto Basic

Ethereum ETFs could go live in July, analyst says – crypto.news

June 17, 2024 | Author: admin

Bloomberg analyst Eric Balchunas expects spot Ether (ETH) exchange-traded funds (ETFs) to begin trading in the U.S. in July.

Balchunas updated his forecast for the official launch of spot Ether ETFs, moving the over/under date to July 2.

The crypto expert noted that the U.S. Securities and Exchange Commission (SEC) staff had sent comments on the S-1 filings to issuers, describing them as pretty light without major issues.

He mentioned that the SEC has asked for responses within a week, suggesting a decent chance that the ETFs could be declared effective the following week, potentially before the holiday weekend.

Balchunas emphasized that while anything is possible, this is their best estimate at the moment.

UPDATE: we are moving up our over/under date for the launch of spot Ether ETF to July 2nd, hearing the Staff sent issuers comments on S-1s today, and they're pretty light, nothing major, asking for them back in a week. Decent chance they work to declare them effective the next https://t.co/XJZ8JLwEFF

On June 13, SEC Chairman Gary Gensler provided some clarity on ETH ETFs during his testimony to Senator Bill Hagerty.

Gensler indicated that he expects the S-1 filings for spot Ethereum ETFs to be approved by the end of the summer. This statement has reinforced the belief that while there may be some delays, approval will likely happen within the next few months.

Balchunas also mentioned that the issuers of spot Ethereum ETFs were waiting for feedback from the SECs Division of Corporation Finance (Corp Fin) on their S-1 filings, which they had submitted two weeks earlier.

He explained that this delay was attributed to Corp Fin reviewing these documents for the first time, highlighting that this unexpected situation stemmed from a likely last-minute political shift within the SEC, which surprised Corp Fin as well.

Balchunas further emphasized that there is uncertainty about how quickly Corp Fin could prioritize and process the filings.

However, some observers believe Ethereum ETFs may not attract as much attention as Bitcoin (BTC) ETFs because they do not offer staking capabilities.

SEC Commissioner Hester Peirce, known for her liberal stance on cryptocurrencies and nicknamed Crypto Mom, has expressed skepticism regarding the SECs treatment of Ethereum. Peirce has highlighted that historically, the SEC has categorized Ethereum as a security, unlike Bitcoin, which is classified as a commodity.

The SEC has maintained that Ether is a security, which introduces a distinct set of challenges compared to the approval process for Bitcoin ETFs, Peirce remarked.

The United States Securities and Exchange Commission (SEC) has initiated the approval process for Ethereum exchange-traded funds (ETFs), marking a notable advancement for the cryptocurrency industry.

On May 23, the SEC approved eight 19b-4 filings. However, trading of these ETFs cannot commence until they obtain the required approvals for their S-1 registration statements.

The 19b-4 forms are regulatory filings that propose amendments to current rules or regulations, facilitating the listing and trading of new securities. Approval of these forms signifies the SECs authorization for exchanges to list the ETFs, although it does not ensure immediate commencement of trading for the ETFs.

This progress represents a significant advancement in the approval journey for Ethereum ETFs, which the cryptocurrency community has eagerly awaited.

Concurrently, the SEC is reviewing the S-1 registration statements filed by Ethereum ETF issuers. These statements offer comprehensive details about the companies and the specific securities they plan to offer.

At the time of writing, the price of Ethereum (ETH) is hovering around $3,562.97, representing a 2.5% increase in the last 24 hours. However, the worlds second-largest crypto is still down by 3.5% on the weekly timeframe, according to CoinGecko data.

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Ethereum ETFs could go live in July, analyst says - crypto.news

Opportunity? ‘Most bullish altcoin’ Ethereum signals imminent surge – Finbold – Finance in Bold

June 17, 2024 | Author: admin

Ethereum (ETH) has once again captured the spotlight with its recent price movements and the emergence of a bullish pattern on its charts.

This pattern, often seen as a precursor to further price increases, has ignited discussions among investors and analysts about Ethereums potential to revisit previous highs.

Over the past week, Ethereum has experienced notable volatility, marked by a 7% decline in its price. The cryptocurrencys performance in the previous month was characterized by a strong uptrend that significantly boosted its price.

However, a recent correction has tempered short-term investor optimism. Despite this performance, analysts believe that Ether still remainsone of the altcoins displaying the most upside potential at the moment. Ethereums underlying fundamentals and market indicators suggest a potential upward trajectory.

Prominent analyst Yoddha has highlighted that historically, Ethers return above yearly highs has often preceded exponential price growth. He suggests that if history repeats itself, ETH could embark on a parabolic uptrend with an upside target set around $20,000, making it one of the most bullish cryptocurrencies.

Ethers bullish outlook is further supported by the data from CryptoQuant which shows an increased investor accumulation and significant outflows from centralized exchanges.This accumulation activity may be driven by bullish events on the horizon, such as the anticipated debut of a spot Ether exchange-traded funds (ETFs).

Analyst Ali Martinez noted increased whale activity, with large holders taking advantage of recent price dips to accumulate more Ether. On-chain data from Santiment shows the top 10 exchange wallets saw an 8.6% drop in ETH holdings as traders moved assets to private wallets

This high demand-side pressure, combined with reduced supply on exchanges, is likely to create a supply deficit that could push Ethers price above $4,000 and into a parabolic uptrend.

Moreover, according to data, over 200,000 ETH options recently expired, and the crypto community eagerly awaits the direction of the Ethereum price.

The majority of the expiring ETH options are call options, meaning buyers are betting the price will rise. At the same time, the put-call ratio is at 0.36, indicating that market participants are currently buying more call options than put options.

In addition to the outflow from centralized exchanges, fundamental and technical indicators offer insights into Ethereums current market dynamics and future potential.

A decline in Ethereums exchange reserves indicates a reduction in available supply, suggesting strong buying pressure from investors.

An increasing funding rate in the derivatives market shows that long-position traders are willing to pay premiums to hold their positions, typically favoring upward price movements.

However, on-chain data from Santiment shows a high Ethereum Network Value to Transaction (NVT) ratio, which compares market capitalization to transaction volume, suggesting that Ethereum might be overvalued relative to its on-chain activity.

This high NVT ratio implies that despite strong market interest and price performance, the on-chain transaction volume does not fully support Ethereums current valuation, indicating potential caution for investors.

Currently, Ethereum is trading at $3,562.24, with a 24-hour increase of 0.23%. Demand for Ethereum is spiking, signaling that traders expect the price to continue rising in the near term.

Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.

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Opportunity? 'Most bullish altcoin' Ethereum signals imminent surge - Finbold - Finance in Bold

Crypto: Market crash. Bitcoin and Ethereum waver – Cointribune EN

June 17, 2024 | Author: admin

Wed 12 Jun 2024 4 min of reading by Evans S.

Cryptocurrencies are going through a tumultuous period, marked by a significant drop in prices. Bitcoin and Ethereum, the two main cryptos, are particularly affected. This decline raises questions about the future of the market and the forces at play. Lets analyze this situation in detail.

Bitcoin, often perceived as a safe haven in the crypto sphere, is not immune to market fluctuations. The crucial support level to watch on the daily chart is $66,205. This threshold coincides with a major resistance line.

A close below this level could intensify selling pressure, leading to a further drop in price.

Conversely, the most important resistance level for Bitcoin is $69,667. Recently, this level has generated strong resistance pressure, preventing the price from rising.

A daily close above this threshold could rekindle the hope of an uptrend. However, investors need to stay cautious, as market movements are often unpredictable.

If the flagship crypto closes below $66,205, selling pressure could accelerate. This situation could push the price to new lows, further eroding investor confidence.

Increased market volatility heightens risks, making predictions difficult. Traders should therefore closely monitor these critical levels.

Ethereum, the second largest crypto, is also under significant pressure. On the daily chart, a consolidation has emerged after breaking out of a triangle pattern.

This consolidation is often a sign of stability, but the current selling pressure has broken the key support level.

For the ETH crypto, the most important support level is $3,502. A daily close below this level could trigger an increase in selling pressure, nullifying recent optimistic gains linked to ETFs. This situation would be concerning for investors who hoped for a sustainable rebound.

The key resistance level for this crypto is the 9 EMA average of $3,689. A daily close above this level could give a boost to the price, paving the way for a recovery. However, the market remains fragile, and investors need to stay vigilant against unpredictable fluctuations.

In the coming days, Ethereums behavior around support and resistance levels will determine its trajectory.

Investors need to be ready to react quickly to market moves to minimize losses and maximize potential gains. Patience and caution are essential in this uncertain period.

The price fluctuations of Bitcoin and the ETH crypto cannot be fully understood without examining macroeconomic factors. The global economic situation plays a crucial role in cryptocurrency movements.

Economic reports, such as employment data in the United States, have a significant impact on the cryptocurrency market.

For example, a recent report revealed stronger-than-expected job growth in May, contributing to Bitcoins decline. This data influences investors decisions and trading strategies.

Decisions by central banks, notably the U.S. Federal Reserve and the European Central Bank, also affect cryptocurrencies. For example, lower interest rates can make risky assets like Bitcoin more attractive. However, uncertainties around future central bank decisions add a layer of complexity to market analysis.

Overall investor sentiment also plays a role. Fear, uncertainty, and doubt (FUD) can lead to massive sell-offs, while excessive optimism can lead to impulsive buying.

Investors need to stay informed and vigilant, adopting a proactive approach to managing risks. Caution is essential in this uncertain landscape. The future of cryptos remains promising, but the road is fraught with challenges. Indeed, the risk of liquidation persists around 71k.

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Fascin par le bitcoin depuis 2017, Evariste n'a cess de se documenter sur le sujet. Si son premier intrt s'est port sur le trading, il essaie dsormais activement dapprhender toutes les avances centres sur les cryptomonnaies. En tant que rdacteur, il aspire fournir en permanence un travail de haute qualit qui reflte l'tat du secteur dans son ensemble.

DISCLAIMER

The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.

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Crypto: Market crash. Bitcoin and Ethereum waver - Cointribune EN

JPMorgan Doubts Crypto Inflows Will Remain as Robust – PYMNTS.com

June 17, 2024 | Author: admin

Americas largest bank says the state of the cryptocurrency market may not be sustainable.

This year has seen crypto net inflows of $12 billion thus far a figure that could jump to $26 billion by years end assuming flows continue apace a trend driven by demand for spot bitcoin exchange-traded funds (ETFs), JPMorgan Chase analyst Nikolaos Panigirtzoglou wrote in a note cited in a Sunday (June 16) report by Seeking Alpha.

While this number is impressive, Panigirtzoglou wrote it might not be entirely made up of new funds coming into the crypto space.

We believe there has likely been a significant rotation away from digital wallets on exchanges to the new spot bitcoin ETFs, he explained.

This movement is noticeable, he noted, as bitcoin reserves on exchanges have dropped by 220,000 BTC, or $13 billion, since the Securities and Exchange Commission (SEC) approved bitcoins ETFs in January.

This implies that the majority of the $16 billion inflows into spot bitcoin ETFs since launch likely reflects a rotation from existing digital wallets on exchanges.

Panigirtzoglou attributed the rotation to the cost effectiveness, deeper liquidity, regulatory protection and convenience of the ETF wrapper that has become market participants preferred choice of instrument for bitcoin exposure for both existing and new crypto investors.

All told, the analyst has doubts that crypto inflows will continue at the same pace for the remainder of 2024, considering how high the price of bitcoin is relative to the cost to produce one or when compared to gold.

This isnt the first time this year that the banking giant has expressed its doubts about bitcoin ETFs, writing soon after the SECs ETF approval that the funds would draw money for existing crypto products but not attract new capital.

We are skeptical of the optimism shared by many market participants at the moment that a lot of fresh capital will enter the crypto space as a result of the spot bitcoin ETF approval, the banks analysts wrote in January.

Last month saw reports that venture capital investment in crypto companies had begun increasing after cooling for two years, climbing to $2.4 billion in the first quarter of 2024.

The crypto industry is still in its early stages, and there is a lot of room for growth and innovation, PitchBook senior analyst Robert Le wrote in a report quoted by Reuters.

Barring any major market downturns, we expect the volume and pace of investments to continue increasing throughout the year, he added.

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JPMorgan Doubts Crypto Inflows Will Remain as Robust - PYMNTS.com

How to generate passive income with cryptocurrency airdrops – Cointelegraph

June 17, 2024 | Author: admin

What are cryptocurrency airdrops?

Cryptocurrency airdrops are a marketing strategy crypto projects use to give away free coins or tokens to certain wallet addresses of active users. Airdrops allow users to expand their crypto portfolio without extra costs and earn money by holding these tokens, hoping their value will increase in the future.

Launching airdrops serves several objectives. Firstly, they help create buzz around a project or cryptocurrency. By giving away free tokens, companies can spread awareness and quickly grow their user bases. Airdrops can also boost liquidity as more users start trading the new tokens. Additionally, companies can reward loyal users and foster community building by encouraging participation and interaction with the project.

Individuals typically participate in certain activities, such as joining a projects social media account, owning a particular cryptocurrency, or engaging with the projects community. Airdrops are usually small in value below $10 and may lack liquidity. To make easy money, some users join an airdrop and sell off the coins immediately, potentially driving the price down.

Cryptocurrency airdrops are usually announced and promoted to the public to create hype and interest in the particular token or project. Most of these airdrops can be identified by joining project newsletters.

Airdrop announcements are often shared in social media airdrop communities, and they can typically be found on X, Telegram and Discord. Those interested in finding possible airdrops should also keep up with official updates on the projects website, crypto news and forum discussions.

Many platforms and websites, such as CoinMarketCap, DappRadar and AirdropAlert, can automate airdrop discovery by providing alerts. These tools can help speed up the process and raise the chance of finding high-potential airdrops before the general public does.

Generating passive income from airdrops can be a lucrative endeavor. Following the essential steps helps ensure eligibility, secure assets and token gains.

Follow the instructions for participating in the chosen crypto airdrop and meet any eligibility criteria, such as holding a minimum amount of cryptocurrency. Verify the duration of the airdrop event and any other specific conditions, such as eligibility requirements and participation steps. The duration of the airdrop event refers to the period during which it is active, and participants can claim their tokens.

Ensure the wallet is compatible with the blockchain network on which the airdropped tokens will be distributed. For example, many airdrops require Ethereum-based wallets such as MetaMask.

A separate crypto airdrop wallet can be explicitly set for airdrops, keeping primary investments separate.

Most airdrops have requirements that must be fulfilled, such as following social media accounts, retweeting posts, creating videos or engaging in discussion in the projects forum. As such, following the rules established by each airdrop campaign is critical.

Certain airdrops require more verification procedures, including completing a Know Your Customer step. When providing personal information, use caution and confirm the projects validity.

Copy a wallet address, paste it into the airdrop registration form, and ensure it matches the required blockchain network to submit a wallet address for cryptocurrency airdrops.

Keep track of when tokens will be distributed by marking dates on the calendar. Ensure that any communication regarding token distribution comes from official sources.

Verify any contract address or instructions by checking official sources, including the project website, social media accounts and official announcements.

If a sizable number of tokens have been received, consider moving them to a more secure wallet, such as a hardware wallet, to provide additional protection against hackers.

Participants can employ various strategies beyond standard airdrop income generation to maximize income with cryptocurrency airdrops.

Create numerous wallets or accounts to participate in an airdrop multiple times. Using multiple wallets can increase the chances of receiving more tokens from airdrops. Beware that some airdrops only allow one participation per active account.

Some campaigns also offer extra airdrop tokens for referrals and social media promotion. Participants can invite friends and post their referral links on social media to get the most out of the airdrop.

Looping involves lending crypto to a protocol, borrowing against it and restaking the borrowed assets. Repeating this process increases leverage and accrues more points, maximizing airdrop points due to similar borrowing and staking yields.

Identifying protocols that serve as the foundation for new ecosystems is another strategy for making the most of crypto airdrops. These protocols often grant airdrops to stakers as new applications utilize their security features, making them prime targets for maximizing airdrop rewards.

The gains from holding and accumulating airdropped tokens can be very lucrative, especially when a newly launched coin gains a lot of popularity and its price rises in the market. As a token gains traction and trading volume, investors can accumulate high returns and increase their initial holdings.

Stake tokens in designated platforms to earn rewards and participate in yield farming to leverage assets for additional income through liquidity provision and governance participation.

Crypto airdrops are taxable in most cases, but the rules vary depending on the participants jurisdiction and the purpose of the airdrop.

In most jurisdictions, including the United States, Australia and the United Kingdom, airdropped tokens are considered ordinary income, similar to a bonus, making them subject to income tax with taxable income equal to the cryptocurrencys value at the time of the airdrop. Also, when the airdropped tokens are sold, capital gains tax may apply, which in turn may lead to double taxation.

On the contrary, some countries, such as Canada and Germany, do not treat airdrops as taxable income. Tax authorities in different jurisdictions provide guidelines stating that airdrops may not be taxable under certain conditions. Awareness of local tax laws is essential to ensure compliance and proper tax management.

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How to generate passive income with cryptocurrency airdrops - Cointelegraph

Why Is Crypto Going Up Today: June 2024 – Forbes

June 17, 2024 | Author: admin

The surge in the crypto market since the past few days can be attributed to several factors driving renewed investor optimism and heightened interest in digital assets. Despite facing challenges in 2023 due to global economic conditions, the market has demonstrated resilience and bounced back strongly. While inflation didnt directly impact the previous slump, other macroeconomic factors played a significant role. However, recent developments, such as the approval of Bitcoin Spot Exchange Traded Funds (ETFs) by the U.S. Securities and Exchange Commission and the upcoming Bitcoin halving event, have injected substantial investments into the market, bolstering overall sentiment.

Britains financial regulator announced that it would permit recognized investment exchanges to introduce crypto-backed exchange-traded notes (cETNs), joining other regulators in facilitating the adoption of digital assets. The Financial Conduct Authority (FCA) specified that these products would be accessible exclusively to professional investors, such as credit institutions and investment firms authorized to operate in financial markets.

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The rise of Bitcoin from INR 2,080,001 to INR 6,114,877, Bitcoin broke its previous records set in 2021, showcasing its resilience and potential for growth. Despite facing significant downturns in 2022 and 2023, Bitcoin experienced a resurgence in 2024. Following substantial jumps on March 8 and March 14, Bitcoin surged to all-new highs. This surge reflects renewed confidence and interest in the cryptocurrency market, attracting attention from investors worldwide. The rapid ascent of Bitcoin underscores the volatile nature of the crypto market and highlights the potential for both substantial gains and losses. As Bitcoin continues to break barriers and reach new milestones, it emphasizes the evolving landscape of digital assets and the opportunities they present for investors.

Ethereums stability and positive developments in the crypto landscape have also contributed to traders anticipation of further price appreciation, driving market optimism. The latest data as per March 18, 2024, shows that Bitcoin (BTC) experienced a slight decrease of 4.90%, while Ethereum (ETH) decreased by 10.95% in the last seven days. Conversely, Tether (USDT) witnessed a marginal increase of 0.05% in the last 24 hours. These fluctuations, coupled with the overall bullish sentiment, underscore the current rise in the crypto market.

As we navigate the complexities of the digital age, top cryptocurrencies like Bitcoin, Ethereum, and others continue to gain prominence, revolutionizing financial transactions, investment strategies, and economic paradigms. Join us as we explore the latest developments, trends, and insights shaping the dynamic world of cryptocurrency today.

Price: INR 5,635,378.39 ($67,966) Market Capitalization: INR 111.19 trillion ($1.34 trillion)

Bitcoin continues to assert its dominance in the cryptocurrency market, with its price showing resilience amidst market fluctuations. Despite a modest increase of 1.30% in the last 24 hours. Bitcoin maintains a very bullish technical rating, reflecting its strong position. With a 3-month performance of 66.45, Bitcoins stability and widespread adoption make it a preferred choice for investors seeking long-term value and stability in the volatile crypto landscape.

Related: How To Buy Bitcoin

Price: INR 298,901 ($3,596) Market Capitalization: INR 35.94 trillion ($433.27 billion)

Ethereum remains a stalwart in the cryptocurrency space, with its price remaining relatively stable at INR 348,999.0, showing a marginal change of -0.9%. But, following the Dencun upgrade, ETH has declined 11.17% in the last seven days. Ethereums technical rating remains very bullish, indicating confidence in its underlying fundamentals. With a 3-month performance of 73.69, Ethereum continues to be a frontrunner in the development of decentralized applications and smart contracts, attracting both developers and investors alike.

Related: How To Buy Ethereum

Price: INR 82.87 ($0.9997) Market Capitalization: INR 8.57 trillion ($103.37 billion)

Tether USD, the leading stablecoin, exhibits stability in its price, albeit with a slight decline of -0.10% in the last seven days. Despite the bearish sentiment, USDT remains a vital component of the cryptocurrency ecosystem, providing liquidity and stability to traders and investors. With a 3-month performance of -0.87, Tether USD serves as a reliable anchor in times of market volatility, offering a safe haven for preserving capital.

Related: How To Buy USDT In India

Price: INR 47,371 ($569) Market Capitalization: INR 7.07 trillion ($85.14 billion)

Binance Coin experienced a minor decline of -0.50% to INR 46,545.27, yet maintains a very bullish technical rating. With a pivot level between INR 48,831 ($589.04) (24H High) and INR 47,633 ($550.47) (24H Low), BNB continues to showcase its resilience and attractiveness to traders and investors. Binance Coins ecosystem and utility within the Binance exchange contribute to its ongoing popularity and strong performance in the cryptocurrency market.

Related: How To Buy Binance Coin

Price: INR 17,208 ($206) Market Capitalization: INR 7.61 trillion ($91.45 billion)

Solana remains an attractive investment option due to its robust ecosystem and scalable blockchain platform. With a pivot level ranging from INR 17,383 ($209) (24H High) to INR 15,632 ($188) (24H Low), SOL continues to demonstrate its potential for growth and innovation in the evolving cryptocurrency landscape.

Related: How To Buy Solana

Note: The price and market capitalization is as of March 18, 2024 via CoinMarketCap

Looking ahead, the crypto market shows promising signs of continued growth and potential opportunities. With Bitcoin (BTC) and Ethereum (ETH) maintaining their positions as leading cryptocurrencies, investors are optimistic about the markets trajectory.

The recent surge in cryptocurrency prices, coupled with positive developments such as the approval of Bitcoin Spot Exchange Traded Funds (ETFs) by regulatory authorities, has fueled expectations for further gains. Additionally, anticipation is building around the upcoming Bitcoin Halving event scheduled for April 2024. These factors are likely to attract more investors and drive increased trading activity in the crypto market.

Investors had high hopes for the Dencun upgrade on Ethereum; however, following the upgrade, ETH experienced a notable decline in its price. Similarly, Bitcoin also witnessed a downtrend over the past two days, following the upgrade.

However, its essential to remain cautious and mindful of the markets inherent volatility. Past experiences, such as the significant price fluctuations witnessed in 2021, serve as a reminder of the risks associated with cryptocurrency investments. Therefore, investors should approach the market with careful consideration, diversify their portfolios, and implement prudent risk management strategies to navigate potential market fluctuations effectively.

Overall, while the future of the crypto market holds promise, its crucial to stay informed, remain adaptable, and exercise caution in making investment decisions.

The recent surge in cryptocurrency prices suggests a potentially promising future for the crypto market. With Bitcoin surpassing its all-time highs and excitement building around the Bitcoin halving investors are hopeful for continued growth and potential new records.

As of now, the total global crypto market capitalization stands strong at $2.58 trillion, reflecting significant interest and investment in digital assets. However, theres a lingering question: is this surge indicative of a sustained bull run, or could it potentially be a setup for a bull trap?

To answer this, its crucial to reflect on the historical performance of key cryptocurrencies like Bitcoin. In 2021, Bitcoins price surged to over $57,000 before plummeting into a prolonged bear market, shedding nearly 42% of its value by early 2022. This history serves as a reminder of the inherent volatility of the crypto market and the unpredictability of price movements.

The current volatility in Bitcoins prices isnt unprecedented, and theres no assurance that the ongoing rally will continue indefinitely. Investors must remain cautious and acknowledge the high level of risk associated with investing in any asset class, whether centralized or decentralized. Its essential to approach cryptocurrency investment with careful consideration and prudent risk management strategies.

Considering the market capitalization of cryptocurrencies over the years, from November 2021 to March 2024, theres a clear trend of growth and fluctuation. The market peaked at $3 trillion in November 2021, experiencing subsequent ups and downs before reaching $2.58 trillion in March 2024. This journey underscores the dynamic nature of the crypto market and the importance of staying informed and adaptable to navigate its fluctuations effectively.

In conclusion, while the recent surge in cryptocurrency prices offers promise for potential gains, investors must tread cautiously and remain mindful of the markets inherent volatility. Its crucial to approach cryptocurrency investment with a well-thought-out strategy, informed decision-making, and a disciplined approach to risk management.

Investing in cryptocurrency can be lucrative but comes with its own set of risks. Heres a comprehensive guide on how to invest in crypto:

Understand the Risks: Recognize that the cryptocurrency market is highly volatile, and investing in it can be risky. Prices can fluctuate dramatically in short periods, leading to substantial gains or losses.

Assess Financial Situation: Before investing, evaluate your financial situation and risk tolerance. Determine how much you can afford to invest without affecting your overall financial stability.

Research Cryptocurrencies: Conduct thorough research on different cryptocurrencies. Learn about their technology, use cases, development teams, and market dynamics. Focus on well-established cryptocurrencies like Bitcoin and Ethereum, as well as promising altcoins.

Keep Up with the Latest News: Stay informed about market trends, regulatory updates, and technological advancements in the cryptocurrency space. Follow reputable sources, forums, and social media channels to stay updated.

Choose a Reliable Exchange: Select a reputable cryptocurrency exchange to buy, sell, and trade cryptocurrencies. Look for exchanges with a good reputation, strong security measures, and a user-friendly interface.

Secure Your Investments: Prioritize security measures to protect your cryptocurrency investments. Use hardware wallets or cold storage solutions to store your cryptocurrencies offline and safeguard them from hacking or theft.

Diversify Your Portfolio: Spread your investments across different cryptocurrencies to minimize risk. Diversification can help mitigate losses if one cryptocurrency underperforms while others thrive.

Set Investment Goals: Define your investment goals and time horizon. Determine whether youre investing for the short term or long term and establish realistic expectations for returns.

Start Small: Begin with small investments to test the waters and gain experience in cryptocurrency trading. Avoid investing large sums of money until youre comfortable navigating the market and understanding its dynamics.

Monitor Your Investments: Regularly monitor the performance of your cryptocurrency investments. Stay alert to market trends and be prepared to adjust your investment strategy accordingly.

Seek Professional Advice: Consider consulting with a financial advisor or cryptocurrency expert, especially if youre new to investing or uncertain about your decisions. A professional can provide personalized guidance based on your financial goals and risk profile.

Stay Patient and Disciplined: Cryptocurrency investing requires patience and discipline. Avoid making impulsive decisions based on short-term market fluctuations and stick to your investment plan.

Heres a step-by-step guide on how to invest in cryptocurrency:

Step 1: Understand and do your research on the current crypto market and its risks.

Step 2: Choose the amount youre willing to invest.

Step 3: Choose the cryptocurrency you want to invest in.

Step 4: Choose a crypto exchange platform for your investment.

Step 5: Make your own account through a crypto exchange platform.

Step 6: Complete the verification and know your customer (KYC) process.

Step 7: Fund your crypto account and youre good to trade your desired crypto coin.

Step 8: Choose a crypto wallet to store your cryptocurrency. There are multiple digital wallets like mobile wallets, hardware wallets, desktop wallets and online wallets. Learn more about the best crypto wallets in India.

Step 9: Secure your wallet.

Step 10: Hold and then sell or buy to gain profit as deemed appropriate.

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Investing in cryptocurrency can be a rewarding venture, but its essential to approach it with caution and diligence. By understanding the risks, conducting thorough research, and following a disciplined investment strategy, you can navigate the crypto market effectively and potentially capitalize on its growth opportunities. Remember to stay informed, stay patient, and stay vigilant in protecting your investments.

Go here to read the rest:
Why Is Crypto Going Up Today: June 2024 - Forbes

4 Ways Cryptocurrency is Empowering Communities and Individuals – Latest Cryptocurrency Prices & Articles

June 17, 2024 | Author: admin

You mostly know cryptocurrencies for their impact on the financial world, but theres more to learn about their social impact on communities and individuals. Their impact on philanthropic initiatives is quickly becoming noticed by individuals, communities, and governments of all levels in different regions. They boast borderless and decentralized features, offering a new path toward financial freedom and empowerment.

If you plan to explore the uses of cryptocurrencies, especially how they help empower communities and individuals, this is the right place. Below, well look at four ways cryptocurrency empowers communities and individuals to help you get started with crypto correctly.

As a digital asset, cryptocurrency provides greater financial inclusion to individuals and communities disadvantaged by the lack of access to traditional financial systems. With superpowers like the U.S. still having 2.6% of an unbanked population, the situation could worsen in less developed countries with inferior banking systems. Registering cryptocurrency as a substitute solution is a great reprieve for many individuals and communities in these regions.

Users can send and receive crypto coins between family and friends in record time without worrying about huge transaction fees and delayed remittance. For example, you can now buy Bitcoin faster and add it to your wallet, where you can send it to your loved ones whenever and wherever you are. Organizations in these disadvantaged regions can equally receive generous donations through crypto donations for their sustenance.

When inflation and other economic mishaps occur, traditional fiat currencies tend to lose their value, which disadvantages holders. However, with cryptocurrency, especially scarce ones, you can enjoy an alternative store of value not subject to inflationary pressure and government manipulation. This is a great way for individuals and businesses to protect their wealth and hedge against economic uncertainties.

Cryptocurrencies have opened many opportunities for individuals and businesses looking to explore decentralized finance (DeFi) and innovative blockchain projects. Through these two main paths, individuals can now lend, stake, and tokenize assets to grow wealth and diversify their investment portfolio. The good thing about crypto investment opportunities is that you can explore its borderless features and interact with clients and businesses across the globe.

Since it also allows for satisfactory privacy when transacting, cryptocurrency can open your thinking about money, ushering you to an open gateway to endless investment options. Whether your interest is in crowdfunding, NFTs, or tokenization of assets, crypto offers numerous avenues to generate crypto tokens or income.

The challenges of transparency in charity organizations are slowly becoming a thing of the past with the adoption of Bitcoin technology in philanthropy. Organizations and individuals can now track the flow of funds, ensuring that donations are used for their intended purpose. This way, donors can be confident that their funds are put to good use, thus building trust and opening doors for more future donations.

Thanks to cryptos borderless acceptance, organizations can receive donations from anywhere in the world instantly and even anonymously. All the bureaucratic transaction processes associated with traditional fiat currency barely concern organizations already subscribing to crypto donations.

The use of cryptocurrency has had its fair share of benefits, especially in empowering individuals and communities. Regardless of the angle of opportunity you want to explore with your new-found crypto assets; you can always find something to smile about from these four options above. So, if you had doubts about the uses of crypto and its communal and individual benefits, now you have something to help you explore your options courageously.

* The information in this article and the links provided are for general information purposes only and should not constitute any financial or investment advice. We advise you to do your own research or consult a professional before making financial decisions. Please acknowledge that we are not responsible for any loss caused by any information present on this website.

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Spot Ethereum ETF issuers still waiting on SEC for first round of S-1 comments: Sources – The Block

Ethereum powered by BlackRock: A 100 million alliance that changes everything – Cointribune EN

Ethereum Price Forecast: Volatility Ahead amid Surge in ETH Sell Pressure – The Crypto Basic

Ethereum ETFs could go live in July, analyst says – crypto.news

Opportunity? ‘Most bullish altcoin’ Ethereum signals imminent surge – Finbold – Finance in Bold

Crypto: Market crash. Bitcoin and Ethereum waver – Cointribune EN

JPMorgan Doubts Crypto Inflows Will Remain as Robust – PYMNTS.com

How to generate passive income with cryptocurrency airdrops – Cointelegraph

Why Is Crypto Going Up Today: June 2024 – Forbes

4 Ways Cryptocurrency is Empowering Communities and Individuals – Latest Cryptocurrency Prices & Articles

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