Nubank, a Brazilian neobank, has introduced new features for its cryptocurrency customers. The Sao Paolo-based organization recently enabled deposits and withdrawals of bitcoin, ether, and solana in its cryptocurrency service, broadening the use cases of its platform. Before, the company only allowed users to purchase, hold, and sell cryptocurrency assets. Nubank Enhances Cryptocurrency Features: Opens […]

Airdrops from two cat-themed memecoins may have paid off the entire pre-order value of the Solana ‘Chapter 2’ mobile device.

The Pantera Fund V will invest in a range of blockchain-based assets and is slated for launch in April 2025.

Marathon Digital plans to increase its 2024 hash rate target for Bitcoin mining from 35-37 EH/s to 50 EH/s, thanks to expanded capacity from recent acquisitions, aiming to more than double its mining operations without the need to raise additional capital. The company’s growth includes purchasing a 200 megawatt Bitcoin mining center and two additional […]

Crypto analysts believe the large transfers could have a “big impact” depending on where the capital is getting deployed.

The on-chain analytics firm Santiment has revealed that over 85% of all altcoins in the sector are currently in the historical “opportunity zone.” MVRV Would Suggest Most Altcoins Are Ready For A Bounce In a new post on X, Santiment discussed how the altcoin market looks based on their MVRV ratio model. The “Market Value to Realized Value (MVRV) ratio” is a popular on-chain indicator that compares the market cap of Bitcoin against its realized cap. The market cap here is the usual total valuation of the asset’s circulating supply based on the current spot price. At the same time, the latter is an on-chain capitalization model that calculates the asset’s value by assuming the “true” value of any coin in circulation is the last price at which it is transferred on the blockchain. Related Reading: Bitcoin Forms Death Cross & TD-9 Sell Signal: Brace For Impact? Given that the last transaction of any coin would have likely been the last time it changed hands, the price at its time would act as its current cost basis. As such, the realized cap essentially sums up the cost basis of every token in the circulating supply. Therefore, one way to view the model is as a measure of the total amount of capital the investors have put into the asset. In contrast, the market cap measures the value holders are carrying. Since the MVRV ratio compares these two models, its value can tell whether Bitcoin investors hold more or less than their total initial investment. Historically, when investors have been in high profits, tops have become probable to form, as the risk of profit-taking can spike in such periods. On the other hand, a dominance of losses could lead to bottom formations as selling pressure runs out in the market. Based on these facts, Santiment has defined an “opportunity” and “danger” zone model for altcoins. The chart below shows how the market currently looks from the perspective of this MVRV model. The data for the MVRV divergence for the various altcoins | Source: Santiment on X Under this model, when the MVRV divergence for any asset on some timeframe is higher than 1, the coin is considered to be inside the bullish opportunity zone. Similarly, if it is less than -1, it suggests it’s in the bearish danger zone. Related Reading: Bitcoin Whales Continue Buying, Now Hold 25.16% Of All Supply The chart shows that MVRV divergence for a large part of the market is in the opportunity zone right now. As the analytics firm explains, Over 85% of assets we track are in a historic opportunity zone when calculating the market value to realized value (MVRV) of wallets’ collective returns over 1-month, 3-month, and 6-month cycles. Thus, if the model is to go by, now may be the time to go around altcoin shopping. ETH Price Ethereum, the largest among the altcoins, has observed a 3% surge over the past week, which has taken its price to $3,150. Looks like the price of the asset has gone up over the last few days | Source: ETHUSD on TradingView Featured image from Shutterstock.com, Santiment.net, chart from TradingView.com

Ethereum price is attempting a recovery wave above the $3,125 zone. ETH must clear the $3,200 resistance to continue higher in the near term. Ethereum extended losses and tested the $3,075 support zone. The price is trading below $3,180 and the 100-hourly Simple Moving Average. There is a key rising channel forming with support at $3,140 on the hourly chart of ETH/USD (data feed via Kraken). The pair could continue to move down if it trades below the $3,125 support. Ethereum Price Faces Resistance Ethereum price struggled to recover and extended losses below the $3,100 level. ETH traded as low as $3,074 and is currently attempting another recovery wave, like Bitcoin. There was a minor increase above the $3,125 resistance. The price climbed above the 23.6% Fib retracement level of the recent drop from the $3,292 swing high to the $3,074 low. However, the bears are active near the $3,200 resistance zone. Ethereum is now trading below $3,180 and the 100-hourly Simple Moving Average. There is also a key rising channel forming with support at $3,140 on the hourly chart of ETH/USD. Immediate resistance is near the $3,180 level and the 100-hourly Simple Moving Average. The first major resistance is near the $3,200 level or the 61.8% Fib retracement level of the recent drop from the $3,292 swing high to the $3,074 low. Source: ETHUSD on TradingView.com The next key resistance sits at $3,240, above which the price might gain traction and rise toward the $3,280 level. A close above the $3,280 resistance could send the price toward the $3,350 resistance. If there is a move above the $3,350 resistance, Ethereum could even test the $3,500 resistance. Any more gains could send Ether toward the $3,550 resistance zone. More Downsides In ETH? If Ethereum fails to clear the $3,180 resistance, it could continue to move down. Initial support on the downside is near the $3,125 level. The first major support is near the $3,075 zone. The main support is near the $3,030 level. A clear move below the $3,030 support might set the pace for more losses and send the price toward $2,880. Any more losses might send the price toward the $2,750 level in the near term. Technical Indicators Hourly MACD – The MACD for ETH/USD is losing momentum in the bearish zone. Hourly RSI – The RSI for ETH/USD is now below the 50 level. Major Support Level – $3,125 Major Resistance Level – $3,200

CoinShares found a significant increase in hedge funds and wealth managers survey respondents who have allocated to Solana compared to earlier this year.

BNB Chain, one of the largest smart contracts-enabled ecosystems in the crypto environment, has announced the inclusion of native liquid staking in its BSC blockchain. The new feature aims to allow validators to secure the network and maintain the liquidity of its assets while the ecosystem abandons the Beacon chain. BNB Chain Evolves Into a […]

On-chain analytics firm Spot On Chain’s team of analysts, using Google Cloud’s Vertex artificial intelligence (AI), has conducted an in-depth analysis to forecast the future price of Bitcoin (BTC).  Their latest report provides valuable insights into the leading cryptocurrency’s short-, medium-, and long-term outlook. Bitcoin Price Forecasts According to Spot On Chain’s report, Bitcoin prices are expected to fluctuate between $56,000 and $70,000 during May, June, and July 2024.  This projected range indicates the potential for market volatility, with a 48% probability assigned to the scenario where BTC prices may dip below $60,000. Moreover, the report advises a cautious approach, acknowledging the possibility of short-term fluctuations or corrections in the price. Related Reading: SEC Anticipated To Reject Spot Ethereum ETFs In Upcoming Decision, ETH Price Takes 5% Hit Spot On Chain’s analysis reveals a significant movement in the latter half of 2024, with a compelling 63% probability of Bitcoin reaching $100,000.  This mid-term projection reflects a prevailing bullish sentiment in the market, further fueled by anticipated rate cuts after the Federal Open Market Committee’s (FOMC) December 2023 meeting.  These rate cuts aim to bring the federal funds rate down to 4.6% and are expected to boost demand for risk-on assets such as stocks and Bitcoin. Looking ahead to the first half of 2025, Spot On Chain’s modeling indicates a strong probability that Bitcoin will cross the $150,000 threshold. Specifically, a 42% probability is assigned to this scenario, indicating a bullish outlook for Bitcoin’s price trajectory. What’s more, looking at the entire year of 2025, the probability of Bitcoin exceeding $150,000 rises to an eye-popping 70%. Based on historical data and patterns in previous cycles, Bitcoin reached a new all-time high approximately 6 to 12 months after the Halving event.  Price Consolidation On The Horizon? Crypto analyst Retk Capital has also provided insights into the current Bitcoin price action, shedding light on key resistance levels and the potential for a consolidation phase before an anticipated parabolic upside. According to Retk Capital’s analysis, Bitcoin has consistently been rejected from the $65,600 resistance level, failing to regain it as a support level.  This resistance zone has significantly impeded Bitcoin’s upward movement in recent days, as seen on the cryptocurrency’s daily BTC/USD chart below.  Related Reading: HBAR Prices Crashes 35% As BlackRock Denies Any Ties To Hedera Retk Capital further highlights that Bitcoin has been witnessing downside wicks into a pool of liquidity at approximately $60,600. This occurrence has been observed over multiple weeks, indicating the presence of buyers in that price range.  If Bitcoin experiences further downward movement, the analyst believes that there is a possibility that it may approach this area once again. The analyst further notes: Price dropping without context can be emotionally challenging. However, understanding that this downside is part of the consolation within a technical range-bound structure that will precede Parabolic Upside makes this experience much more comforting. As of this writing, BTC is trading at $63,900, down nearly 8% over the past two weeks and the same percentage over the past 30 days. Featured image from Shutterstock, chart from TradingView.com

Bitcoin price failed to recover above the $65,500 resistance. BTC is again moving lower and there is a risk of more downsides below $63,000. Bitcoin started another decline after it failed to surpass the $65,500 resistance zone. The price is trading below $64,500 and the 100 hourly Simple moving average. There is a connecting bearish trend line forming with resistance at $64,500 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could accelerate lower if there is a daily close below the $63,000 support zone. Bitcoin Price Faces Hurdles Bitcoin price started a recovery wave from the $62,750 support zone. BTC was able to climb above the $64,000 and $64,500 resistance levels. However, the price failed to clear the $65,500 resistance zone. A high was formed at $65,300 and the price started another decline. There was a move below the $64,500 level. The price tested the 50% Fib retracement level of the recovery wave from the $62,743 swing low to the $65,300 high. Bitcoin is now trading below $64,500 and the 100 hourly Simple moving average. There is also a connecting bearish trend line forming with resistance at $64,500 on the hourly chart of the BTC/USD pair. Immediate resistance is near the $64,500 level or the trend line. The first major resistance could be $65,350 or $65,500. A clear move above the $65,500 resistance might send the price higher. The next resistance now sits at $66,200. Source: BTCUSD on TradingView.com If there is a clear move above the $66,200 resistance zone, the price could continue to move up. In the stated case, the price could rise toward $67,000. The next major resistance is near the $67,400 zone. Any more gains might send Bitcoin toward the $68,800 resistance zone in the near term. More Losses In BTC? If Bitcoin fails to rise above the $64,500 resistance zone, it could continue to move down. Immediate support on the downside is near the $64,000 level. The first major support is $63,750 or the 61.8% Fib retracement level of the recovery wave from the $62,743 swing low to the $65,300 high. If there is a close below $63,750, the price could start to drop toward $62,750. Any more losses might send the price toward the $61,200 support zone in the near term. Technical indicators: Hourly MACD – The MACD is now gaining pace in the bearish zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now below the 50 level. Major Support Levels – $64,000, followed by $63,750. Major Resistance Levels – $64,500, $65,350, and $66,200.

Uniswap, one of the world’s largest decentralized exchanges (DEX) by total value locked (TVL), is approaching a major milestone on Arbitrum, the largest layer-2 by TVL on Ethereum. According to data from Dune Analytics shared by Uniswap Labs, Uniswap on Arbitrum is on the cusp of surpassing a staggering $150 billion in total swap volume. Riding The DeFi Boom As of April 25, Uniswap had facilitated over $146 billion in cumulative swap volume on Arbitrum alone. The number has gradually increased over the past three years since June 2021, when it was deployed on Arbitrum, looking at on-chain data.  By August 2021, Uniswap was processing less than $5,000 in swap volume. After that, they steadily picked up momentum throughout the crypto bear run of 2022. Notably, a sharp uptick from October 2023 coincided with the start of the crypto boom that eventually propelled Ethereum to over $4,000 in Q1 2024. Related Reading: HBAR Prices Crashes 35% As BlackRock Denies Any Ties To Hedera The rising swap volume on Arbitrum reflects the increasing preference for Decentralized Finance (DeFi) solutions. As Uniswap on Arbitrum nears $150 billion, more users are increasingly turning to the popular DEX to trade, all without giving up control of their assets. The surging popularity of Uniswap on Arbitrum can be partly attributed to significantly lower transaction fees compared to the Ethereum mainnet. Through Arbitrum, the optimistic roll-up solution, swappers enjoy low transaction fees. They can also trade from a scalable environment secured by the Ethereum mainnet.  Ethereum developers recently implemented Dencun, introducing a new transaction format called “blobs.” Because of this, layer-2 solutions can store large chunks of data off-chain, reducing the mainnet bloat. Subsequently, fees have been lowered, drastically enhancing the user experience for Arbitrum and other layer-2 users like Base and Optimism. Uniswap V4 And United States Wells Notice Following Dencun’s activation, Uniswap Labs plans to deploy v4. This iteration introduces features like Hooks that developers say will make the DEX even more efficient and flexible. The launch is set for this year. Though Uniswap V4 is huge for the DEX and DeFi as a whole, the United States Securities and Exchange Commission (SEC) ‘s decision to issue a Wells notice is a setback. Related Reading: SEC Anticipated To Reject Spot Ethereum ETFs In Upcoming Decision, ETH Price Takes 5% Hit The regulator intends to sue. However, the founder, Hayden Adams, responded in a post on X that they are ready to fight. Feature image from Shutterstock, chart from TradingView

The Binance Smart Chain (BNB Chain), developed by the world’s largest cryptocurrency exchange by trading volume, Binance, experienced significant growth and performance in the first quarter (Q1) of 2024.  As highlighted in a recent report by Messari, Binance Smart Chain has surged in market cap, revenue, average daily active addresses, decentralized finance (DeFi), total value locked (TVL), and average daily decentralized exchange (DEX) volume.  BNB Outperforms Bitcoin In Q1 2024 During Q1 2024, BNB Smart Chain demonstrated notable market cap growth, soaring by 89% quarter-over-quarter (QoQ). It reached a market cap of $92.5 billion, securing the third position among all tokens, excluding stablecoins. Only Ethereum (ETH) and Bitcoin (BTC) surpassed BNB in market cap.  Interestingly, the report notes that BNB’s performance surpassed that of Bitcoin, which saw a 65% increase in outstanding market capitalization over the same period. Related Reading: SEC Anticipated To Reject Spot Ethereum ETFs In Upcoming Decision, ETH Price Takes 5% Hit Revenue generated by the Binance Smart Chain experienced a substantial boost in Q1. The network collected $66.8 million in revenue, marking a 70% QoQ increase.  According to Messari, this surge in revenue was primarily driven by the appreciation of BNB’s price. Notably, Q1’s revenue exceeded that of any quarter in 2023. DeFi transactions, particularly gas fees, were significant in revenue contributions, accounting for 46% of the total. Despite a slight decrease in average daily transactions, BNB Smart Chain experienced a 27% year-over-year (YoY) increase, demonstrating sustained growth in network activity.  Average daily active addresses surged by 26% QoQ, reaching 1.3 million. Several protocols on the BNB Smart Chain witnessed increased transaction volumes and active addresses, with Tether’s USDT and decentralized exchange (DEX) PancakeSwap leading the way. DEX Trading Volume Explodes BNB Smart Chain’s DeFi TVL, denominated in USD, experienced a 67% QoQ surge, reaching $7.2 billion. This growth positioned the Binance Smart Chain as the third-highest chain regarding DeFi TVL, denominated in USD.  However, when denominated in BNB, TVL decreased slightly by 12%. This indicates that the surge in USD value was primarily driven by BNB price appreciation and capital inflows. Decentralized exchanges on the Binance Smart Chain witnessed a staggering 193% QoQ increase in average daily trading volume. The total DEX volume for Q1 reached $1.1 billion, with PancakeSwap emerging as the dominant DEX on the platform.  PancakeSwap’s average daily DEX volume surged by 140% QoQ, surpassing other competitors and solidifying its position as the preferred DEX on the BNB Smart Chain. Related Reading: HBAR Prices Crashes 35% As BlackRock Denies Any Ties To Hedera Overall, Binance Smart Chain’s performance in the first quarter of 2024 showed significant growth across various parameters, reinforcing its position as an important blockchain platform.  The exchange’s native token, Binance Coin, is currently trading at $607, reflecting a 2% price increase over the past 24 hours and a 10% increase over the past 7 days.  These positive price movements bring the token closer to its all-time high of $686, reached in May 2021. Featured image from Shutterstock, chart from TradingView.com

There’s only one way left for Chinese nationals to access the Hong Kong Bitcoin ETFs, $6B scam accused in court, and more: Asia Express.

Standard Chartered, which was previously optimistic about the U.S. Securities and Exchange Commission (SEC) approving spot ether exchange-traded fund (ETF) applications in May, has now revised its prediction. The bank still sees a positive long-term future for spot ethereum ETFs. Standard Chartered on Spot Ether ETFs Standard Chartered, previously optimistic about a May approval for […]