BtcNews.biz

Home
United Kingdom
London
BtcNews.biz

btcnews.biz offers original coverage of the global blockchain and cryptocurrency news Our mission is to help everyone, everywhere be more economically free.
(10)

The team at BtcNews is comprised of some of the cryptocurrency and blockchain industry’s best and brightest. Each team member adheres to a strict set of journalistic principles and ethics in order to provide readers with only the highest-quality content. We also all have a passion for injecting transparency and honesty into the cryptocurrency space. As such, we actively seek to identify disingenuo

us reporting, fishy ICOs, exit scams, and other non-transparent actions in a space meant to provide transparency. Our mission is to create more economic freedom in the world
We define economic freedom as the ability to make choices with respect to one’s personal resources, unencumbered by trusted third parties or borders or lack of access. We believe economic freedom is the foundation of peace and prosperity, and by creating more of it for people, we are reducing suffering in the world. History of Blockchain and Cryptocurrencies
In 2008, Satoshi Nakamoto invented bitcoin, a peer-to-peer electronic cash system [4] and described blockchain the underpinning technology. Since then, bitcoin and blockchain have taken the world by storm and is hailed to be the answer for a perfect currency and financial system in the future. The issuance of bitcoins is by POW, a proof of work algorithm first proposed in 1993. By the algorithm, the issuance is reduced to the task of mining. This is an entirely new way of currency issuance. Gold mining is measured by human labor, whereas bitcoin mining is measured by computation power. The emergence of bitcoin and blockchain thus marked the beginning of the transition from a carbon-based civilization to a silicon-based civilization. A person tries to maximize their profit and wealth that is generally proportional to human labor. With currency being the main carrier of wealth can lead to different perceptions of money and wealth by the method of issuance of currency. Adopting the bitcoin method shifts our focus to computation power, for which there is still plenty of room for further advancement and innovation. The big open question here is that can we create a new world currency that can benefit (in terms of much-improved features and services) human as a whole in the long run? What currency issue rules should we adopt? Besides the traditional gold standard and then the current national credit standard, bitcoin and blockchain represent the third generation of currency issuance. Bitcoin is a kind of cryptocurrency, of which the ownership depends on a private key. Without the correct private key, there is no way to move bitcoins around, even if it is by means of law. This brings to us the notion of “absolutely private property”, for the first time in human history! Bitcoin is innovative in all IOF factors. Use IOF, For Facebook’s Libra, it is creative in money form and flow of money, leaving money issuance unchanged. Blockchain has the potential to provide us with much better solution in terms of IOF. With blockchain, we put an end to the monopoly of government-issued currency. Blockchain will simplify the set of concepts revolving around financial services and the complexity of the IT system. With blockchain, we have cryptocurrency that is more stable and safer than any currency that has ever existed before. This is “monetary and financial freedom”!

28/06/2024

$102 Billion in Bitcoin and Ethereum Options to Expire Today: All You Need to Know: $102 Billion in Bitcoin and Ethereum Options to Expire Today: What You Need to Know

An unprecedented $102 billion worth of Bitcoin and Ethereum options are set to expire, which is expected to drive up the volatility of the cryptocurrency market once again. This comprises 107,000 BTC worth approximately $6.6 billion and $3.6 billion worth of Ethereum.

Options play a crucial role in the cryptocurrency market by influencing price dynamics and investor behavior. These derivative contracts grant buyers the right, but not the obligation, to buy or sell an asset at a predetermined price before the contract's expiration.

The expiration of a large volume of options can lead to significant price fluctuations as traders and investors adjust their positions. Understanding these market movements requires a deep understanding of the "max pain" concept.

According to recent options data for June 28, 107,000 BTC options are set to expire with a Put Call Ratio of 0.5, a max pain point of $57,000, and a total value of $6.6 billion. Additionally, 1.04 million ETH options are expiring with a Put Call Ratio of 0.59, a max pain point of $3,100, and a total value of $3.6 billion.

The max pain point represents the price at which options holders experience the greatest financial loss, as the largest number of options contracts expire at that price. Market makers often attempt to push the price of the underlying asset towards the max pain point to mitigate their payouts.

In June, the crypto market has encountered challenges, with a more pessimistic outlook as the prices of BTC and ETH approached their respective max pain points. The proximity of these prices suggests that many options holders were not prepared for these levels, deeming them unlikely.

The expiration of such a substantial volume of options can lead to increased volatility as traders unwind their positions and market makers hedge their exposures. Another significant metric to consider is the Put/Call ratio, which indicates whether there are more put (sell) or call (buy) options in the market.

For Bitcoin, the Put/Call ratio is 0.5, indicating a larger number of call options. Ethereum follows a similar trend with a ratio of 0.59. Despite the recent market correction, these ratios suggest an overall bullish sentiment among traders.

Сообщение $102 Billion in Bitcoin and Ethereum Options to Expire Today: All You Need to Know появились сначала на btcnews.biz.

$102 Billion in Bitcoin and Ethereum Options to Expire Today: What You Need to Know An unprecedented $102 billion worth of Bitcoin and Ethereum options are set to expire, which is expected to drive up the volatility of the cryptocurrency market once again. This comprises 107,000 BTC worth approximat...

28/06/2024

Fetch.ai Founder Breaks Silence on Coinbase ASI Merger Rejection: Fetch.ai Founder Addresses Coinbase ASI Merger Rejection

In a recent statement, Humayun Sheikh, the founder of Fetch.ai, has responded to Coinbase's announcement that it will not support the token merger between Fetch.ai (FET), SingularityNET (AGIX), and Ocean Protocol (OCEAN). Sheikh clarified that this rejection by Coinbase will not impact the merger process, as FET is already listed on centralized exchanges (CEXes). He assured the community that they are actively working to resolve any issues and urged stakeholders to be patient. Sheikh mentioned that the Fetch.ai team is in ongoing discussions with Coinbase and hopes to find a resolution soon.

Regarding the merger itself, Sheikh explained that AGIX and OCEAN will first be integrated into FET according to a predetermined ratio, resulting in FET becoming an ASI token. He highlighted that although Coinbase stated that its main exchange will not support the alliance, the platform will still facilitate the swapping of tokens within the alliance through its custodial wallets. Sheikh emphasized that different trading platforms have their own unique processes to support the ASI Alliance.

Despite the rejection from Coinbase, Sheikh reassured the community that many other exchanges are supportive of the merger, and the process will continue as planned. However, the uncertainty surrounding the situation has led to increased selling pressure on the respective tokens. As of now, FET has experienced a 10.42% decrease in value in the past 24 hours, trading at $1.45. AGIX has fallen by 9.14% to $0.6118, while OCEAN has plummeted by over 9% to $0.6092.

Сообщение Fetch.ai Founder Breaks Silence on Coinbase ASI Merger Rejection появились сначала на btcnews.biz.

Fetch.ai Founder Addresses Coinbase ASI Merger Rejection In a recent statement, Humayun Sheikh, the founder of Fetch.ai, has responded to Coinbase’s announcement that it will not support the token merger between Fetch.ai (FET), SingularityNET (AGIX), and Ocean Protocol (OCEAN). Sheikh clarified th...

28/06/2024

Bitcoin miner Bitdeer to launch 570 MW power facility in Ohio: Bitcoin mining company Bitdeer, founded by Chinese billionaire Jihan Wu in 2020, has announced plans to launch a 570 MW power facility in Ohio. The company has secured a 30-year lease for land at the Hannibal Industrial Park in Clarington, Ohio. The facility will provide additional power capacity to support Bitdeer's Bitcoin mining operations and high-performance computing (HPC) for artificial intelligence (AI). The initial 266 MW of power capacity is expected to be available by Q3 2025, with the remaining 304 MW still under review for incorporation into the regional transmission planning process. This expansion is part of Bitdeer's growth ambitions, and the company's shares have already seen a 3.37% increase in pre-market trading following the announcement. The recent $150 million investment from Tether, the largest stablecoin issuer, will further support Bitdeer's data center expansion and mining rig development. Overall, this facility will strengthen Bitdeer's presence in the Bitcoin mining industry and contribute to its long-term growth.

Сообщение Bitcoin miner Bitdeer to launch 570 MW power facility in Ohio появились сначала на btcnews.biz.

Bitcoin mining company Bitdeer, founded by Chinese billionaire Jihan Wu in 2020, has announced plans to launch a 570 MW power facility in Ohio. The company has secured a 30-year lease for land at the Hannibal Industrial Park in Clarington, Ohio. The facility will provide additional power capacity to...

28/06/2024

Avalanche Integrates Chainlink’s Oracle Data Streams Service. AVAX and LINK Are Growing: Avalanche blockchain network has recently integrated Chainlink's Oracle Data Streams service, a move that has sparked growth in both AVAX and LINK. This integration allows Avalanche users to access high-frequency market data in real-time, offering benefits such as low latency and automated ex*****on. The GMX crypto futures exchange will be utilizing the Data Streams application as part of this collaboration. The news has resulted in a significant price surge for AVAX, which has increased by almost ten percent to $28, while LINK is trading at $14, experiencing a four percent uptrend. This partnership signifies an exciting development for high-throughput DeFi products on Avalanche, with Chainlink's Data Streams playing a crucial role.

Сообщение Avalanche Integrates Chainlink’s Oracle Data Streams Service. AVAX and LINK Are Growing появились сначала на btcnews.biz.

Avalanche blockchain network has recently integrated Chainlink’s Oracle Data Streams service, a move that has sparked growth in both AVAX and LINK. This integration allows Avalanche users to access high-frequency market data in real-time, offering benefits such as low latency and automated executi...

28/06/2024

Aptos Foundation And Alibaba Cloud Intend To Contribute To The Development Of The Web3 Ecosystem In Japan: Aptos Foundation and Alibaba Cloud have joined forces to contribute to the growth and development of the Web3 ecosystem in Japan. This collaboration has led to the launch of Alcove, which is Asia's first collaborative Move developer community. The main objective of Alcove is to foster innovation and expand the impact of the Move smart contract programming language in the Asia-Pacific region.

The partnership between Aptos Foundation and Alibaba Cloud aims to enhance the accessibility of Web3 technology by offering security, speed, and scalability to talented developers. To achieve this, Aptos Foundation will leverage Alibaba Cloud technology to host hackathons and educational events. These initiatives are designed to nurture new Web3 talent within the Alcove Japan community and accelerate the development of Japan's on-chain ecosystem.

In addition to their collaboration with Alibaba Cloud, Aptos Foundation is also working closely with NBCUniversal and Aptos Labs to harness the potential of Web3 and blockchain technologies. Their collective efforts are focused on improving gameplay, increasing fan loyalty, and enhancing engagement in the gaming industry.

With its robust regulatory framework and tech-savvy population, Japan is well-positioned to become a global leader in promoting the advantages of Web3 and digital assets. The partnership between Aptos Foundation and Alibaba Cloud is a significant step towards realizing this potential and driving the growth of the Web3 ecosystem in Japan and the wider Asia-Pacific region.

(Image: Coinspeaker)

Сообщение Aptos Foundation And Alibaba Cloud Intend To Contribute To The Development Of The Web3 Ecosystem In Japan появились сначала на btcnews.biz.

Aptos Foundation and Alibaba Cloud have joined forces to contribute to the growth and development of the Web3 ecosystem in Japan. This collaboration has led to the launch of Alcove, which is Asia’s first collaborative Move developer community. The main objective of Alcove is to foster innovation a...

28/06/2024

3 cryptocurrencies to turn $100 into $1,000 for end of 2024: 3 cryptocurrencies to turn $100 into $1,000 for end of 2024

In recent months, the crypto market has assumed an aura of frustration – if not outright despair – for those investors seeking to take advantage of cryptocurrencies’ tendency to rapidly multiply their value during bull cycles.

Crypto greats such as Bitcoin (BTC) and Ethereum (ETH) have been mostly stagnant but also featured significant price drops – such as the ones they are experiencing at the time of publication – while even the meme coin ‘fiesta’ is said to be near its end.

Despite the recent trends – and despite some believing the crypto bull market may already be at its end – there are still many who believe that the June downturn is but a quiet period in a cycle that will soon reignite and take numerous digital assets to ever higher highs.

Whatever the case for the broader crypto market may be, there remain several coins and tokens that hold the potential for rocketing before the end of 2024.

Solana (SOL)

As of late June 2024, Solana (SOL) finds itself in a precarious position. The fact that it has been such a popular blockchain for millions of new projects has exposed the Solana network both to criticism and potential legal issues – if recent rumors of a ‘huge case’ are true.

Additionally, the SOL ecosystem came under fire on June 27 after a 90% drop in stablecoin daily volume made many suspect wash trading was used to inflate the numbers, and that much of Solana’s popularity amounts to little more than smoke and mirrors.

Despite this, SOL has also proven to rapidly surge on positive news as it did after VanEck’s plans to establish a trust for the token were unveiled. Given that Solana is considered the likeliest cryptocurrency to have an exchange-traded fund (ETF) approved – after Ethereum, that is – it might just rocket to unprecedented highs before 2024 is out.

XRP (XRP)

The argument for XRP’s likely surging has remained largely unchanged for years. XRP is a major cryptocurrency whose price is severely depressed by the long legal battle between Ripple and the SEC. Based on this assessment, it appears obvious that, should the regulator lose the fight in the next round of court battles, XRP has the potential to surge if the aftermath of the first case is anything to go by.

Though the argument is relatively old, it has been reinforced by several developments in the last 12 months. The most recent of these is that the SEC’s authority appears to be on a descent.

While far from a coup de grâce for the Ripple battle, the U.S. Supreme Court’s (SCOTUS) ruling against the regulator’s ability to use in-house rules has certainly hampered the SEC’s ability to prevail in future cases.

In general, the Commission is finding itself under mounting pressure, as Coinbase (NASDAQ: COIN) recently filed its own lawsuit against it and several other agencies, and Ripple has also been scoring occasional wins over the months.

Libra (LIB)

Libra (LIB) is a cryptocurrency that has gained significant attention due to its association with the social media giant Facebook. Despite facing regulatory challenges and resistance from governments around the world, there is still potential for Libra to see substantial growth in the coming years.

Facebook's large user base and global reach provide a strong foundation for the adoption and use of Libra. If Facebook is able to navigate the regulatory landscape and gain widespread acceptance for its cryptocurrency, the value of Libra could increase significantly.

Additionally, the development of the Libra Association, a consortium of companies that will govern the cryptocurrency, adds credibility and support to the project. With continued advancements in technology and increased adoption of cryptocurrencies, Libra could be a promising investment for the future.

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

Сообщение 3 cryptocurrencies to turn $100 into $1,000 for end of 2024 появились сначала на btcnews.biz.

3 cryptocurrencies to turn $100 into $1,000 for end of 2024 In recent months, the crypto market has assumed an aura of frustration – if not outright despair – for those investors seeking to take advantage of cryptocurrencies’ tendency to rapidly multiply their value during bull cycles. Crypto ...

28/06/2024

VeChain (VET) Surges on Speculation of ETF Listing and Sustainability Initiatives: VeChain (VET) has recently surged in value, attracting the attention of investors due to speculation surrounding the potential listing of a VeChain Exchange-Traded Fund (ETF). Market participants are hopeful that if an ETF is approved, it could lead to a significant increase in VET's value, similar to the impact Bitcoin ETFs have had on the market.

VeChain's appeal lies not only in the potential for an ETF but also in its practical applications in the real world. The cryptocurrency's utility in various industries adds to its attractiveness within the crypto community.

The possibility of an Ethereum ETF being approved has also sparked excitement, as VeChain, being based on Ethereum, could benefit from such a development. Analysts predict that if approved, VET's value could experience a substantial rise.

Additionally, VeChain's focus on environmental sustainability has garnered attention in the ETF landscape. The cryptocurrency's commitment to sustainable blockchain technology boosts its appeal among institutional investors and blockchain enthusiasts.

On May 27th, VET saw a price increase of over 5% and broke out of a technical formation. This move has further fueled speculation about a potential VeChain ETF listing, with some analysts forecasting a price rally that could push VET above its all-time high of $1.

Despite the ongoing speculation, the anticipation surrounding a possible VeChain ETF reflects the growing demand and confidence in VET's future performance. With its recent milestones, such as the launch of VeBetterDAO, VeChain has shown its dedication to sustainable blockchain technology, positioning itself well for institutional investors and blockchain enthusiasts.

As the cryptocurrency market awaits further regulatory developments, VeChain is in a favorable position to build on its recent achievements and maintain momentum during the bullish market phase ahead.

Сообщение VeChain (VET) Surges on Speculation of ETF Listing and Sustainability Initiatives появились сначала на btcnews.biz.

VeChain (VET) has recently surged in value, attracting the attention of investors due to speculation surrounding the potential listing of a VeChain Exchange-Traded Fund (ETF). Market participants are hopeful that if an ETF is approved, it could lead to a significant increase in VET’s value, simila...

28/06/2024

Here’s Bitcoin’s path to $300,000 after current consolidation: Bitcoin, the world's leading cryptocurrency, is currently experiencing a consolidation phase that could potentially lead to a new all-time high, according to a crypto trading analyst. In a recent post on TradingView, the analyst highlighted that Bitcoin's current price movement is reminiscent of its historical behavior before entering a parabolic rally. The expert pointed out that Bitcoin is consolidating at a symmetrical spot relative to previous cycles, a pattern that has typically signaled a significant upward movement in its price.

Examining the duration of previous cycles, the analyst found that the bottom-to-bottom time range has been consistently around 1400 days, while the bottom-to-top duration of the last two cycles was approximately 1064 days. This consistent pattern suggests that Bitcoin is poised for another substantial rise in value. In fact, the analyst suggested that the potential top for this cycle could range anywhere between $150,000 and $300,000.

While Bitcoin currently faces bearish pressure, the overall sentiment surrounding the asset has also declined. Crypto analysis platform Santiment revealed that bullish calls for Bitcoin on various platforms, including X, Reddit, Telegram, 4Chan, and BitcoinTalk, have significantly dropped, indicating a loss of confidence among traders. However, Santiment also suggested that this decline in trader euphoria could potentially signal a bottom, which could lead to a reversal in the market trend. In such cases, investors often view a bottom as an opportunity to buy since the asset is considered undervalued.

However, cautionary notes have also been raised by other analysts. Ali Martinez, a cryptocurrency analyst, warned traders and investors against premature excitement following Bitcoin's recent price movements. Martinez emphasized that if Bitcoin's price drops to $60,700, it could trigger around $22 million in liquidations, which could further impact the market.

Bitcoin's price remained stable around $63,940 for a few days before declining due to the announcement of Mt. Gox repayments scheduled for July 2024. The subsequent volatility saw Bitcoin fluctuating between $59,000 and $62,000. As a result, the key support level to watch for now is at $60,000.

Please note that the content in this text should not be considered investment advice, as investing in cryptocurrencies is speculative, and there is always a risk of capital loss.

Сообщение Here’s Bitcoin’s path to $300,000 after current consolidation появились сначала на btcnews.biz.

Bitcoin, the world’s leading cryptocurrency, is currently experiencing a consolidation phase that could potentially lead to a new all-time high, according to a crypto trading analyst. In a recent post on TradingView, the analyst highlighted that Bitcoin’s current price movement is reminiscent of...

28/06/2024

Bitcoin miners’ capitulation looms, worst trend in two years: Bitcoin miners' capitulation is becoming an alarming trend, with the network's hashrate experiencing its worst downtrend in two years. This spells trouble for the cryptocurrency's security as miners continue to show signs of giving up. Recent data shows a significant decrease in miners' BTC reserves, with the average production cost exceeding the resulting revenue. The hashrate, which indicates the network's production rate, has been steadily declining since its peak in April. Experts warn that this downturn could lead to further lows, greatly impacting Bitcoin's security.

The drop in hashrate is primarily caused by weaker miners shutting down or unplugging their mining machines. This unfortunate situation leads to a centralization of wealthier miners who can sustain operations in an unfavorable landscape. This undermines the network's security and compromises the decentralized and distributed nature of Proof of Work (PoW).

Interestingly, despite the decline in hashrate, Bitcoin's average mining costs remain above $80,000, according to MicroMicro data. This suggests that miners may be forced to sell their BTC at a lower price than the cost required to mine them, exacerbating their financial struggles.

Bitcoin mining heavily relies on economies of scale, favoring larger players who receive higher rewards from the network. In contrast, medium and small miners may be forced to capitulate by selling their BTC reserves or mining infrastructure. This trend could contribute to increased centralization within the mining industry.

Additionally, the selling pressure from a declining number of miners can hinder BTC price growth unless there is an increase in demand. Currently, Bitcoin spot trading and onchain transaction volumes are at record lows, adding to the challenges faced by the cryptocurrency.

In conclusion, the looming capitulation of Bitcoin miners and the continuous drop in hashrate are concerning trends that pose risks to the network's security and decentralization. As the mining industry faces financial difficulties and struggles to remain profitable, the future for Bitcoin mining remains uncertain.

Сообщение Bitcoin miners’ capitulation looms, worst trend in two years появились сначала на btcnews.biz.

Bitcoin miners’ capitulation is becoming an alarming trend, with the network’s hashrate experiencing its worst downtrend in two years. This spells trouble for the cryptocurrency’s security as miners continue to show signs of giving up. Recent data shows a significant decrease in miners’ BTC ...

28/06/2024

5 Altcoins You Should Keep an Eye on in July 2024: 5 Altcoins You Should Keep an Eye on in July 2024

The cryptocurrency market has been growing rapidly, leading to the introduction of numerous altcoins. It can be challenging to identify the ones worth investing in. To simplify the process, BeInCrypto has curated a list of altcoins to monitor in July 2024.

Toncoin (TON)

Toncoin, the native token of Telegram, has demonstrated impressive performance in recent months. The altcoin reached a new all-time high in June and is on the verge of establishing another one. With a trading price of $7.6, TON may surpass the existing all-time high of $8.2 and move beyond $8.5. The consistent testing and unbroken nature of the uptrend line make it a reliable support floor.

Notcoin (NOT)

Notcoin, another token associated with Telegram, is worth keeping an eye on. Following its launch, this web3 game-based token experienced a remarkable 317% rally. While the past few days have not been particularly fruitful for NOT, it managed to break past the downtrend line. Sustaining this breakthrough could enable the altcoin to regain lost profits and reach $0.020 from its current trading price of $0.015.

Solana (SOL)

Solana's price surge has been driven by institutional interest in recent weeks. According to the CoinShares report, SOL witnessed approximately $3.3 million in inflows as of June 21, surpassing competitors like Litecoin (LTC), Chainlink (LINK), and Ripple (XRP). If SOL breaches the resistance at $156, it could rise from $144 to $169. However, a failed breach might bring it down to the established support floor of $126.

Kaspa (KAS)

Kaspa has been exhibiting bullishness and could achieve a new all-time high in July. It has sustained an uptrend since May, and its current price of $0.177 might facilitate this breakthrough. To surpass the existing all-time high of $0.193, KAS would need to breach $0.184 and establish it as a support level. However, it has previously failed to close above this resistance on three occasions within the last four months, leading to potential consolidation above $0.162.

Brett (BRETT)

Brett, a meme coin affiliated with PEPE, has experienced significant gains on Coinbase's BASE chain. Despite undergoing corrections, its price surged by over 132% during the first week of June. The all-time high for BRETT is $0.195, and there is a possibility of breaching it considering the current hype and demand. However, meme coins tend to be volatile, and there is a chance that this breach could fail, resulting in a potential drawdown to $0.140, thereby invalidating the bullish thesis.

Сообщение 5 Altcoins You Should Keep an Eye on in July 2024 появились сначала на btcnews.biz.

5 Altcoins You Should Keep an Eye on in July 2024 The cryptocurrency market has been growing rapidly, leading to the introduction of numerous altcoins. It can be challenging to identify the ones worth investing in. To simplify the process, BeInCrypto has curated a list of altcoins to monitor in July...

28/06/2024

Gotbit dumps WATER tokens following debut on DEXs: Gotbit, a prominent crypto market maker, faced criticism after selling $4 million worth of WATER tokens, resulting in a significant drop in the token's price. The company's actions were seen as contributing to a 70% price crash shortly after the token's release on decentralized exchanges. Blockchain researchers alleged that wallets associated with the WaterCoin team aggressively sold WATER as trading began. However, in a later post, Gotbit admitted to being responsible for the token's sale, claiming it was part of their market-making operations and that they made $4 million from it. Gotbit defended its actions, stating that the initial price spike was due to independent snipers, and they took the money from these snipers to support the price. They also emphasized their role as a market maker to provide equal opportunities for all presale investors and claimed to have lowered the price to protect the community. Despite Gotbit's explanation, the price of WATER remains significantly below its debut value, and the WaterCoin team has not publicly addressed the trading practices.

Сообщение Gotbit dumps WATER tokens following debut on DEXs появились сначала на btcnews.biz.

Gotbit, a prominent crypto market maker, faced criticism after selling $4 million worth of WATER tokens, resulting in a significant drop in the token’s price. The company’s actions were seen as contributing to a 70% price crash shortly after the token’s release on decentralized exchanges. Bloc...

28/06/2024

Record Predictions Are Flying in the Air for Ethereum! Analysts Saying ETH Will Receive Wall Street’s Support Announced Their 2024 Year-End Price Target!: Forecasts for Ethereum's future performance are soaring as experts predict that the cryptocurrency will receive support from Wall Street and reach significant milestones by the end of 2024. Analysts from Steno Research have shared their predictions, stating that they expect a significant increase in the value of Ethereum if spot ETFs are approved for trading on July 4th.

The analysts project a net inflow of $15-20 billion into spot Ethereum ETFs within the first year, which they believe will drive the price of ETH to reach at least $6,500 by the end of this year. They also anticipate that Ethereum will outperform both the US dollar and Bitcoin.

Although the cryptocurrency market has expressed skepticism towards spot ETH ETFs, the analysts argue that Ethereum's appeal to Wall Street will attract significant investment. They predict that net inflows could potentially reach $20 billion in the first year alone.

Senior analyst Mads Eberhardt, leading the research team at Steno Research, highlighted the potential impact of these inflows on Ethereum's value, stating, "We expect the ETH price to reach at least $6,500 later this year, thanks to expected net inflows into spot ETFs as well as positive headwinds."

It's worth noting that analysts also emphasized that Ethereum ETFs may have a greater impact on ETH compared to Bitcoin ETFs, considering Ethereum's lower market cap and weaker liquidity.

However, it's important to remember that this information is not investment advice.

Сообщение Record Predictions Are Flying in the Air for Ethereum! Analysts Saying ETH Will Receive Wall Street’s Support Announced Their 2024 Year-End Price Target! появились сначала на btcnews.biz.

Forecasts for Ethereum’s future performance are soaring as experts predict that the cryptocurrency will receive support from Wall Street and reach significant milestones by the end of 2024. Analysts from Steno Research have shared their predictions, stating that they expect a significant increase ...

Address

Building 2, North London Business Park, Oakleigh Road S
London
N111GN

Telephone

+447458164487

Website

https://btcnews.biz/

Alerts

Be the first to know and let us send you an email when BtcNews.biz posts news and promotions. Your email address will not be used for any other purpose, and you can unsubscribe at any time.