Page 177«..1020..176177178179..190200..»

Google Cloud has just knocked a load of customers offline for the second time this month – TechRadar

May 21, 2024 | Author: admin

In a week already marked with controversy after Google Cloud accidentally deleted the entire account of Australian pension fund UniSuper, the tech giant has stumbled again.

At 15:22 PT last Thursday, a maintenance automation, intended to shut down an unused network control component at a single location, malfunctioned.

Instead of targeting only one site, the process inadvertently affected around 40 locations, taking many customers offline in the process.

The blunder led to nearly three hours of downtime, disrupting 33 Google Cloud Services for affected users including high-profile offerings like the Compute Engine and Kubernetes Engine.

Some of the issues included the provision of new VM instances without network connectivity, VM migrations and restarted systems losing connection, and configurations like firewalls and network load balancers not updating.

Operations reliant on Google Cloud Engine VMs were severely impacted during the few hours, until the incident concluded at 18:10 PT, just in time for the weekend.

Google attributed the outage to a bug in the automation tool used for the maintenance. A network status page reads: Google engineers restarted the affected component, restoring normal operation.

Sign up to the TechRadar Pro newsletter to get all the top news, opinion, features and guidance your business needs to succeed!

The cloud hosting giant added: We extend our sincerest apologies for the service interruption incurred as a result of this service outage.

Just over a week before, services like Google Big Query and Google Compute Engine were taken offline during what Google described as an unplanned power event caused by a power failover due to a utility company outage.

The previous week, Google also hit the headlines for accidentally deleting UniSupers account in a one-of-a-kind occurrence, a company that had an estimated $124 billion in funds under management last summer.

For now, businesses and users alike remain on edge, hoping that Google Cloud puts in the work to prevent other similar outages.

See the article here:
Google Cloud has just knocked a load of customers offline for the second time this month - TechRadar

Read More..
Posted in Cloud Storage | Leave a Comment

Get 20TB of Prism Drive cloud storage for the web’s best price – PCWorld

May 21, 2024 | Author: admin

Cloud storage is essential these days, as everybody has more data than they can fit on just their devices alone. Monthly fees add up, however, and it can be an annoying part of your budget planning to include cloud storage expenses. So, get them taken care of with a one-time payment. Right now, you can get a lifetime subscription to 20TB of Prism Drive Secure Cloud Storage for just $89.97.

Prism Drive offers AES 256-bit and HTTPS encryption for your files both when in transfer and at rest, giving you powerful security for your files. Its easy to upload to the cloud and stay organized with an intuitive user interface. If you need to share files, you can do so with shareable links in just a few clicks.

Enjoy a better cloud storage experience for the webs best price. Right now, you can get 20TB of Prism Drive Secure Cloud Storage for a one-time payment of just $89.97.

Prism Drive Secure Cloud Storage: Lifetime Subscription (20TB) $89.97

See Deal

StackSocial prices subject to change.

See the article here:
Get 20TB of Prism Drive cloud storage for the web's best price - PCWorld

Read More..
Posted in Cloud Storage | Leave a Comment

Cloud Storage Market Set to Soar to $241.59 Billion by 2029 – openPR

May 21, 2024 | Author: admin

Cloud Storage Market

The cloud storage market has experienced significant growth over the past decade, driven by the increasing adoption of cloud-based solutions across various industries. Companies are increasingly leveraging cloud storage services to store, manage, and access their data securely and efficiently. This growth is fueled by several factors, including the rising volume of digital data generated by businesses, the need for scalable and cost-effective storage solutions, and the widespread adoption of mobile and remote work practices. Additionally, advancements in cloud technology, such as improved security measures, enhanced data management capabilities, and the availability of high-speed internet connectivity, have further accelerated the adoption of cloud storage solutions.

As the demand for cloud storage continues to rise, the market landscape has become increasingly competitive, with numerous vendors offering a wide range of services and solutions. Established players like Amazon Web Services (AWS), Microsoft Azure, and Google Cloud Platform (GCP) dominate the market, providing robust infrastructure and a comprehensive suite of storage services. However, smaller players and niche providers are also gaining traction by offering specialized services tailored to specific industries or use cases. Additionally, the emergence of hybrid and multi-cloud strategies, where organizations utilize a combination of public and private cloud environments, is reshaping the market dynamics and driving further innovation in cloud storage technologies. Overall, the cloud storage market is poised for continued growth as businesses increasingly prioritize agility, scalability, and cost efficiency in managing their data assets.

Get to Know More About This Market Study:https://www.maximizemarketresearch.com/market-report/global-cloud-storage-market/3484/

Cloud Storage Market Report Scope and Research Methodology A comprehensive cloud storage market report typically encompasses a wide range of factors, including market size, growth trends, key drivers and challenges, competitive landscape, and future outlook. The scope of such a report may span various segments of the cloud storage market, such as storage type (public, private, hybrid), deployment model (IaaS, PaaS, SaaS), service type (object storage, file storage, block storage), industry verticals (IT & telecom, BFSI, healthcare, retail, etc.), and geographical regions. Additionally, the report may delve into emerging trends like edge computing, AI-driven storage management, and regulatory considerations impacting the cloud storage market. The research methodology employed in compiling such a report typically involves primary research, including interviews with industry experts, surveys, and observations, as well as secondary research, which entails gathering data from reputable sources such as industry reports, company websites, press releases, and government publications. Through a combination of quantitative analysis, qualitative insights, and expert opinions, these reports provide valuable insights and actionable intelligence for businesses, investors, and other stakeholders operating in or interested in the cloud storage market.

In terms of research methodology, conducting a comprehensive cloud storage market report involves a systematic approach to data collection, analysis, and validation. Researchers typically begin by defining the scope and objectives of the study, identifying relevant data sources, and formulating research questions or hypotheses. Primary research methods may include surveys, interviews, focus groups, and observations to gather firsthand insights from industry professionals, customers, and other stakeholders. Concurrently, secondary research is conducted to gather existing data, market reports, scholarly articles, and other relevant literature. Data analysis techniques such as statistical analysis, trend analysis, and forecasting are then applied to interpret the collected data and derive meaningful insights. Finally, the findings are synthesized, and the report is prepared, ensuring accuracy, objectivity, and relevance to provide a comprehensive understanding of the cloud storage market landscape.

To dive into the specifics, click the below link::https://www.maximizemarketresearch.com/request-sample/3484

Cloud Storage Market Regional Insights

Regional insights play a crucial role in understanding the dynamics of the cloud storage market, as adoption trends, regulatory frameworks, and infrastructure vary significantly across different geographical regions. North America, with its highly developed IT infrastructure and early adoption of cloud technologies, has emerged as a dominant force in the global cloud storage market. The region is home to several major cloud service providers and tech giants, driving innovation and fueling demand for cloud storage solutions across industries. Moreover, stringent data protection regulations and growing concerns around cybersecurity have further accelerated the adoption of cloud storage services in North America, particularly in sectors such as healthcare, finance, and government.

Request For Free Inquiry Report:https://www.maximizemarketresearch.com/inquiry-before-buying/3484

Cloud Storage Market Segmentation

by Component

Solutions Services

by Application

Primary Storage Backup and Disaster Recovery Archiving

by Deployment Type

Public Private Hybrid

by Vertical

BFSI IT and ITeS Telecommunications Healthcare and Life Sciences Media and Entertainment Consumer Goods and Retail Manufacturing Government and Public Sector Energy and Utilities Others

For a detailed overview, click on the link provided::https://www.maximizemarketresearch.com/request-sample/3484

Cloud Storage Market Key Players

Amazon Web Services, Inc (US) Google (US) Microsoft (US) IBM (US) Wasabi (US) Oracle (US) Rackspace Technology (US) Hewlett Packard Enterprise (US) Dell Technologies (US) Dropbox (US) VMware (US) NetApp (US) Hitachi Vantara (US) Scality (US) Citrix (US) DigitalOcean (US) Zadara (US) Cisco Systems, Inc. (US) Data direct Networks (US) MongoDB, Inc. (US) Alibaba Cloud (China) Tencent Cloud (china) Huawei (China) Fujitsu (Japan) UpCloud Ltd (Finland) pCloud (Switzerland) Degoo (Sweden) Rohde & Schwarz (Germany) Mecalux, S.A. (Spain)

Key questions answered in the Cloud Storage Market are:

What is Cloud Storage? What was the Cloud Storage market size in 2023? What is the growth rate of the Cloud Storage Market? Who are the key players in the Cloud Storage market? Who are the leading companies and what are their portfolios in Cloud Storage Market? What are the recent industry trends that can be implemented to generate additional revenue streams for the Cloud Storage Market? Which are the factors expected to drive the Cloud Storage market growth? What are the different segments of the Cloud Storage Market? What growth strategies are the players considering to increase their presence in Cloud Storage? What are the upcoming industry applications and trends for the Cloud Storage Market? What segments are covered in the Cloud Storage Market? What segments are covered in the Cloud Storage Market? What are the key opportunities in the market? What factors restrain the market growth?

Key Offerings:

Past Market Size and Competitive Landscape (2018 to 2022) Past Pricing and price curve by region (2018 to 2022) Market Size, Share, Size & Forecast by Different Segment | 2023-2030 Market Dynamics - Growth Drivers, Restraints, Opportunities, and Key Trends by Region Market Segmentation - A detailed analysis by segment with their sub-segments and Region Competitive Landscape - Profiles of selected key players by region from a strategic perspective o Competitive landscape - Market Leaders, Market Followers, Regional player o Competitive benchmarking of key players by region PESTLE Analysis PORTER's analysis Value chain and supply chain analysis Legal Aspects of Business by Region Lucrative business opportunities with SWOT analysis Recommendations

More Trending Reports by Maximize Market Research -

Friction Stir Welding Market https://www.maximizemarketresearch.com/market-report/global-friction-stir-welding-market/10856/

Canada Electric Car Market https://www.maximizemarketresearch.com/market-report/canada-electric-car-market/65498/

Global Protein Labeling Market https://www.maximizemarketresearch.com/market-report/global-protein-labeling-market/23253/

Global Airless Packaging Market https://www.maximizemarketresearch.com/market-report/global-airless-packaging-market/87255/

Global Ready to Drink Cocktails Market https://www.maximizemarketresearch.com/market-report/global-ready-to-drink-cocktails-market/114189/

Electrical Toothbrush Market https://www.maximizemarketresearch.com/market-report/global-electrical-toothbrush-market/70375/

Global Online Clothing Rental Market https://www.maximizemarketresearch.com/market-report/global-online-clothing-rental-market/110582/

Global Diabetic Socks Market https://www.maximizemarketresearch.com/market-report/global-diabetic-socks-market/49410/

Global Paper Straws Market https://www.maximizemarketresearch.com/market-report/global-paper-straws-market/29491/

Global Molded Pulp Packaging Market https://www.maximizemarketresearch.com/market-report/global-molded-pulp-packaging-market/103248/

MAXIMIZE MARKET RESEARCH PVT. LTD.

3rd Floor, Navale IT park Phase 2, Pune Banglore Highway, Narhe Pune, Maharashtra 411041, India. +91 9607365656 sales@maximizemarketresearch.com http://www.maximizemarketresearch.com

Maximize Market Research is one of the fastest-growing market research and business consulting firms serving clients globally. Our revenue impact and focused growth-driven research initiatives make us a proud partner of majority of the Fortune 500 companies. We have a diversified portfolio and serve a variety of industries such as IT & telecom, chemical, food & beverage, aerospace & defense, healthcare and others.

This release was published on openPR.

See the original post here:
Cloud Storage Market Set to Soar to $241.59 Billion by 2029 - openPR

Read More..
Posted in Cloud Storage | Leave a Comment

Business ChatGPT users can now pull in files from Google Drive, OneDrive and more – TechRadar

May 21, 2024 | Author: admin

OpenAI has announced its latest update to ChatGPT will include new integrations with top cloud storage drives to allow enterprise users to pull in files from Google Drive and OneDrive for additional context.

The improvements are planned to roll out over the course of the coming weeks, and will rely on the companys latest GPT-4o model.

Theres a catch, though, because free users will not benefit from the latest upgrades. Instead, Plus, Team and Enterprise users will be first in line, meaning youll need to fork out at least $20 per month if you want to be party to the enhancements.

As part of the upgrade, users will soon be able to access files from the cloud storage platforms via a new integration that should eliminate the need to download files and upload them manually to the chatbot.

OpenAI says that this allows ChatGPT to understand your [documents] more quickly.

Although free account holders will miss out on the tighter integration, all accounts will still be able to upload files directly into the window as is already the case.

Besides this handy addition, ChatGPT has also gained new interactive abilities with tables and charts. Clicking on a specific data entry, for example, will guide ChatGPT into providing more contextually aware responses.

Sign up to the TechRadar Pro newsletter to get all the top news, opinion, features and guidance your business needs to succeed!

Using these two functionalities together, paying users will be able to generate, customize and interact with bar, line, pie, and scatter plot charts, before downloading them to use in presentations and documents.

Moreover, the companys new GPT-4o model, which accepts and generates any combination of text, audio, image, and video, is now rolling out across all tiers, including free accounts. However paying accounts will get access to more features.

Continued here:
Business ChatGPT users can now pull in files from Google Drive, OneDrive and more - TechRadar

Read More..
Posted in Cloud Storage | Leave a Comment

A one-time payment of less than $90 gets you 20TB of cloud storage for life – Cult of Mac

May 21, 2024 | Author: admin

If you do any kind of work online, youve probably already discovered what casual home internet users are starting to learn: Reliable cloud storage is a necessity, not a luxury. Unfortunately, many of the most secure providers charge luxury prices for their top-tier plans, but not with this 20TB cloud storage deal.

Cult of Macreaders can now get20TB of lifetime cloud storage through Prism Drive for only $89.97 (regularly $1,494).

Sometimes, iCloud storage just isnt enough. With this deal, you pay a one-time price for security, state-of-the-art cloud storage with advanced file-management features. You can easily upload almost any type of file from your laptop, tablet or mobile device. And Prism Drive protects it all with AES 256-bit encryption.

While your files stay safe from hackers, they remain easily accessible to you, your family or your business collaborators. You can share files and other media saved on Prism Drive with a link, or move them onto your work platforms with a simple drag and drop. Plus, allcontent uploaded to Prism Drive remains recoverable for 30 days after deletion, in case you realize you still need it.

Working offline? You can download your files onto Prism Drives mobile app for quick access anywhere. You can even preview photos or videos in the browser before you download them, saving you time and bandwidth.

With all its features, its no wonder why one verified buyer raved about Prism Drive. Great value and tech support was superb, they wrote. Id recommend them highly for your cloud needs.

Prism Drives 20TB cloud storage deal works well with most popular operating systems, including macOS, iOS, Windows, Android and Linux. Plus, you can upload files as big as 10GB to the cloud.

This 20TB Prism Drive plan is tailor-made for entrepreneurs or small businesses, but it makesan excellent fit for families who link up their household devices. Sharing fun memories and other media can be easy with Prism Drive.

For a limited time, Cult of Mac readers can get alifetime subscription to 20TB of Prism Drive secure cloud storage for just $89.97 (regularly $1,494). This price drop ends May 22, 2024, at 11:59 p.m. Pacific.

Buy from: Cult of Mac Deals

Prices subject to change. All sales handled by StackCommerce, our partner who runsCult of Mac Deals. For customer support, pleaseemail StackCommerce directly. We originally published this Prism Drive 20TB cloud storage deal on August 1, 2023. We update the pricing info.

More here:
A one-time payment of less than $90 gets you 20TB of cloud storage for life - Cult of Mac

Read More..
Posted in Cloud Storage | Leave a Comment

Judge: Craig Wright forged documents on grand scale to support bitcoin lie – Ars Technica

May 21, 2024 | Author: admin

Enlarge / Craig Wright arrives at a courthouse in London, England, on February 23, 2024.

Getty Images | Lucy North-PA Images

A British judge found that Craig Wright "lied repeatedly and extensively" in a case related to Wright's claim that he is bitcoin inventor Satoshi Nakamoto. "Dr. Wright's attempts to prove he was/is Satoshi Nakamoto represent a most serious abuse of this Court's process," Justice James Mellor of England's High Court of Justice wrote in a ruling published today.

Wright's evidence for being Nakamoto "is at best questionable or of very dubious relevance or entirely circumstantial and at worst, it is fabricated and/or based on documents I am satisfied have been forged on a grand scale by Dr. Wright," Mellor's ruling said.

Today's written ruling came two months after Mellor delivered an oral verdict in which he said the evidence shows Wright is not the person who created bitcoin. The written ruling said, "it is clear that Dr. Wright engaged in the deliberate production of false documents to support false claims and use the Courts as a vehicle for fraud. Despite acknowledging in this Trial that a few documents were inauthentic (generally blamed on others), he steadfastly refused to acknowledge any of the forged documents. Instead, he lied repeatedly and extensively in his attempts to deflect the allegations of forgery."

Mellor's ruling came in a lawsuit filed by the nonprofit Crypto Open Patent Alliance (COPA), which said it sued Wright to disprove his bitcoin-inventing claims and stop him from claiming intellectual property rights to the system. Wright, an Australian computer scientist, started claiming that he created bitcoin in 2016.

The oral ruling in March, which came after a six-week trial, already seems to have had an effect on Wright's legal claims. "In the weeks since the initial ruling, Wright has abandoned multiple lawsuits that were either connected to or built upon his claim to being the creator of Bitcoin," Wired wrote today.

COPA called today's ruling "a watershed moment for the open-source community and even more importantly, a definitive win for the truth. Developers can now continue their important work maintaining, iterating on, and improving the Bitcoin network without risking their personal livelihoods or fearing costly and time-consuming litigation from Craig Wright."

A statement posted on Craig Wright's X account today said, "I fully intend to appeal the decision of the court on the matter of the identity issue." Wright's X account bio calls him the "Creator of Bitcoin."

According to Mellor's ruling, "Dr. Wright presents himself as an extremely clever person" but "is not nearly as clever as he thinks he is. In both his written evidence and in days of oral evidence under cross-examination, I am entirely satisfied that Dr. Wright lied to the Court extensively and repeatedly. Most of his lies related to the documents he had forged which purported to support his claim. All his lies and forged documents were in support of his biggest lie: his claim to be Satoshi Nakamoto."

Excerpt from:
Judge: Craig Wright forged documents on grand scale to support bitcoin lie - Ars Technica

Read More..
Posted in Bitcoin | Leave a Comment

UK Judge Rejects Scientist’s Claim to Be Bitcoin Inventor – PYMNTS.com

May 21, 2024 | Author: admin

A judge at Londons High Courtruled Monday(May 20) that Australian computer scientist Craig Wright lied and forged documents to support his false claim of being the inventor of bitcoin.

Judge James Mellor ruled in March that the evidence Wright was not the pseudonymous Satoshi Nakamoto and gave his reasons for this conclusion Monday, ReutersreportedMonday.

The judge said that Wright had lied and forged documents to support his claim to be the inventor and that his lawsuits against developers and hisviews aboutbitcoinalso went against his claims, according to the report.

The case in which this decision was rendered was brought by theCrypto Open Patent Alliance(COPA) and was aimed at stopping Wright from suingbitcoindevelopers, the report said.

In a Mondayblog postthatfollowingthe rule, COPA wrote that the judgment forensically demolishes Wrights fraudulent claims.

This decision is a watershed moment for the open-source community and even more importantly, a definitive win for the truth, a COPA spokesperson said in the post. Developers can now continue their important work maintaining, iterating onandimproving thebitcoinnetwork without risking theirpersonallivelihoods or fearing costly and time-consuming litigation from Craig Wright.

In a Mondaypost onX, Wright said: I fully intend to appeal the decision of the court on the matter of the identity issue. I would like to acknowledge and thank all my supporters for their unwavering encouragement and support.

Wright stepped forward with his claim to be thecreator ofbitcoinin May 2016, making the claim to three publications the BBC, The EconomistandGQ and sending messages digitally signed with cryptographic keys created during the early days ofbitcoinsdevelopment.

These are the blocks used to send 10 bitcoins to Hal Finney in January [2009] as the first bitcoin transaction, Wright said at the time during his demonstration.

By December 2019, when a judge in Florida ruled that Wrights late partner owned half of all the coins that Wright mined through the year 2013 and half of the intellectual property that was created, somecrypto expertsthought he was a fraud.

Follow this link:
UK Judge Rejects Scientist's Claim to Be Bitcoin Inventor - PYMNTS.com

Read More..
Posted in Bitcoin | Leave a Comment

Trump campaign begins accepting bitcoin, ether and other crypto donations – Blockworks

May 21, 2024 | Author: admin

Former President Donald J. Trumps website says that the presidential candidate now supports crypto donations.

According to his campaign website, users can donate fiat or, selecting more options, donate crypto. His campaign supports donations made via Coinbase Wallet and MetaMask, and the donations are made to joint fundraising committees organized by the Trump campaign and the Republican National Committee (RNCH).

Demonstrating President Trumps success as a champion of American freedom and innovation, we proudly offer you a chance to contribute to the campaign with cryptocurrency, the site said.

Read more: Trump cites merchandise sales in apparent bitcoin U-turn

The site shows the logos for bitcoin, Ripples XRP, Ethereum, Dogecoin, Solaba, SHIB and Cardano.

Trump promised to allow crypto donations in a speech made earlier this month, which highlighted crypto as a political issue in this years presidential race.

This addition to President Trumps already groundbreaking digital fundraising operation marks the first time a major party Presidential nominee has embraced cryptocurrency for donations, a statement about the move said.

It added that Trump plans to build a crypto army ahead of the Nov. 5 election by allowing supporters to donate crypto.

Read more: Bitcoin may stay in a consolidation phase until US election: Novogratz

The former president is not the only candidate in this presidential race to offer people the chance to donate their crypto. Robert F. Kennedy Jr.s campaign announced that it would accept bitcoin last May.

But the opportunity for politicians to collect donations in more than just cash can be traced back to 2016, when Senator Rand Paul sought bitcoin donations during that years presidential election.

Presidential candidates Andrew Yang and Eric Salwell also accepted crypto donations back in 2020.

Start your day with top crypto insights from David Canellis and Katherine Ross. Subscribe to the Empire newsletter.

The Lightspeed newsletter is all things Solana, in your inbox, every day. Subscribe to daily Solana news from Jack Kubinec and Jeff Albus.

Read this article:
Trump campaign begins accepting bitcoin, ether and other crypto donations - Blockworks

Read More..
Posted in Bitcoin | Leave a Comment

Bitcoin shorts worth $1.4B at risk of liquidation if BTC price hits $74.3K – Cointelegraph

May 21, 2024 | Author: admin

The Bitcoin price is currently just 3% away from its all-time high (ATH) of $73,750. However, if it continues its current bullish momentum and posts a new ATH above $74,300, it would trigger the liquidation of nearly $1.45 billion in short positions.

According to data from CoinGlass, the number of long-leveraged positions is considerably higher than that of short-leveraged positions.

Shorting Bitcoin (BTC) involves borrowing BTC and selling it, expecting the price to decline. The trader aims to buy back the Bitcoin at a lower price, repay the loan and profit from the price difference.

In addition to the potential future price movements and their effect on short sellers, the price momentum over the past 24 hours has caused the liquidation of nearly $328 million in leveraged positions. Of this total, $64 million were long positions, while $264 million were short positions.

Bitcoin has followed a sideways price action, trading in the $60,000 to $65,000 range for nearly a month since the block subsidy halving in April.

However, the price has increased by over 5% in the past few days, surpassing the $70,000 mark on Monday, May 20, to reach a new multiweek high. Within 24 hours, the top cryptocurrency was trading above $72,000.

Related: Bitcoin price hits $70K as spot and BTC ETF buying surges

The recent bullish price momentum is attributed to several factors, including increasing investor confidence, decreasing exchange supply and inflows into United States-base spot Bitcoin exchange-traded funds (ETFs) after nearly two weeks of net outflows.

On May 20, spot Bitcoin ETFs saw positive inflows totaling $235 million. ARK Invest led the way with the largest net inflow, adding over 1,000 BTC. BlackRock followed closely with an inflow of 965 BTC. Meanwhile, the Grayscale ETF, which had been experiencing weeks of outflows, recorded an inflow of 140 BTC, marking its fourth consecutive day of positive inflows.

The current bullish price action for BTC also helped it post new highs in various countries,including Japan, Singapore and Argentina.

Magazine: What do crypto market makers actually do? Liquidity, or manipulation

Read the rest here:
Bitcoin shorts worth $1.4B at risk of liquidation if BTC price hits $74.3K - Cointelegraph

Read More..
Posted in Bitcoin | Leave a Comment

Ether, bitcoin rally on renewed ETH ETF optimism – Blockworks

May 21, 2024 | Author: admin

An eleventh-hour about-face from two Bloomberg exchange-traded fund analysts about the likelihood of the Securities and Exchange Commission approving a spot ether ETF sent crypto prices soaring Tuesday.

Ether (ETH) is up more than 23% since Monday, according to data from Coinbase. The cryptocurrency is currently trading at just under $3,800, almost $1,000 higher than it was just seven days ago.

Read more: Spot ether ETF decision week just got a bit more interesting

Bitcoin (BTC) is also on the rise this week, up close to 16% in the past seven days. The largest cryptocurrency broke $70,000 Monday, per Coinbase, for the first time in about a month.

The rally comes as Bloomberg analysts Eric Balchunas and James Seyffart who have elevated to somewhat of a celebrity status on so-called Crypto Twitter in recent months announced on Tuesday afternoon that they were upping their projections of spot ether ETF approval from 25% to 75%.

A person familiar with the matter told Blockworks Tuesday that conversations [with the SEC] are progressing. The SEC has apparently instructed issuers to update their 19b-4 filings, a sign that approval may be granted after all. The person was granted anonymity given the sensitivity of the discussions.

This does not mean approval is a given, but it would be really weird for the SEC to incur the extra time and admin cost if it is planning to reject, Noelle Acheson, author of the Crypto is Macro Now newsletter, said.

The SEC faces deadlines to approve or deny spot ether ETF applications this week on Thursday and Friday. An SEC spokesperson declined to comment.

Crypto markets soared Monday on signs that US regulators may approve spot ethereum ETFs, Zach Pandl, managing director of research at Grayscale, which currently has an ETH ETH application in with the SEC, said. The success of bitcoin ETFs has already demonstrated the popularity of these products with investors, but the impact of a potential approval extends beyond creating a new source of demand.

Also this week, investors will be watching a slew of Federal Reserve speakers Tuesday and awaiting minutes from the central banks most recent Federal Open Market Committee meeting to drop on Wednesday.

Odds of central bankers holding interest rates steady in June remain at 96%, according to CMEs FedWatch Tool.

US equities were fairly flat early in Tuesdays trading session with the S&P 500 gaining about 0.01% and the Nasdaq Composite dipping 0.2% an hour after the open.

Start your day with top crypto insights from David Canellis and Katherine Ross. Subscribe to the Empire newsletter.

The Lightspeed newsletter is all things Solana, in your inbox, every day. Subscribe to daily Solana news from Jack Kubinec and Jeff Albus.

View post:
Ether, bitcoin rally on renewed ETH ETF optimism - Blockworks

Read More..
Posted in Bitcoin | Leave a Comment