On Thursday, a Cryptopunk NFT with an alien theme changed hands for 4,000 ether, equivalent to $12.41 million. This particular Cryptopunk, #635, ranks as the sixth priciest in the Cryptopunks collection. Cryptopunks Collection Sees Another Major Sale With $12.41M Transaction In 2024, another significant transaction involving Cryptopunk #635 took place on Apr. 25, fetching 4,000 […]

Chief economist and Bitcoin critic, Peter Schiff has issued a somber prediction regarding the world’s largest cryptocurrency, Bitcoin. The financial expert has cautioned investors of the potential repercussions should BTC drop below critical resistance levels. Economist Predicts Bitcoin Price Decline In a recent X (formerly Twitter) post, Schiff shared a price chart of Bitcoin against the United States Dollar (USD), pinpointing Bitcoin’s price at the time of the post at $63,814, alongside key support levels around $60,000. The economist has argued that Bitcoin’s current price position was not conducive for HODLers.  Related Reading: Brace For Impact: Worldcoin Team Plans To Sell 1.5 Million WLD Tokens Every Week For 6 Months Emphasizing the importance of BTC maintaining a stronghold above $60,000, Schiff urged investors to proceed with caution and hope that the cryptocurrency successfully sustains support levels. He also predicted that if Bitcoin failed to hold critical support levels, a substantial price decline would be inevitable.  While Schiff’s predictions may appear to align with his usual skepticism towards Bitcoin, the timing of his warnings coincides with a period of heightened uncertainty and volatility surrounding Bitcoin’s price.  The cryptocurrency is currently trading at $63,909, marking a notable decrease from its previous all-time high of over $73,000 before the halving event. Data from CoinMarketCap has revealed a series of declines, with Bitcoin experiencing a 3.75% drop in the last 24 hours and a 4.38% decrease over the past month.  This underscores the uncertain price condition of the pioneer cryptocurrency, hinting at the possibility of further declines unless the cryptocurrency makes a quick price correction.  Schiff has stated that while experienced Bitcoin holders are accustomed to large price drops and periods of volatility, new investors who have recently entered the Spot Bitcoin Exchange Traded Fund (ETF) market should be prepared for a “rude awakening.” Crypto Analyst Says Potential Upsurge In Store For BTC On Monday, April 22, prominent crypto analyst, Ali Martinez shared insights on Bitcoin’s future price trajectory in an X post. Martinez noted that the price of Bitcoin was steadily rising, aiming to secure new highs around $66,000.  Related Reading: Shiba Inu Exchange Balances Reach New Low As SHIB Bounces Off Golden Ratio The crypto analyst predicts that if Bitcoin can successfully break past key support levels at $66,000, the cryptocurrency’s next critical resistance level would be between $69,900 and $71,200. Despite this optimistic forecast, Martinez has also warned investors about a potential pullback, emphasizing the importance of exercising caution and closely monitoring Bitcoin’s price if it falls below $65,500. With Bitcoin currently priced at $63,909, it has fallen notably below the key support level highlighted by Martinez. This continuous price decrease could be attributed to recent trends indicating that Bitcoin’s accumulation score has dropped to zero. This suggests that whales may be moving away from the pioneer cryptocurrency or refraining from accumulating Bitcoin at its present price level.  BTC price falls toward $63,000 | Source: BTCUSD on Tradingview.com Featured image from AMBCrypto, chart from Tradingview.com

PRESS RELEASE. GEORGE TOWN, CAYMAN ISLANDS — APRIL 25, 2024 Pulsr, an AI-powered search engine for NFTs, is launching a new token. The genesis of $PULSR is taking place on Thursday, April 25 at 11.30am EST — and will fuel the project’s ambition to make on-chain assets across the Web3 ecosystem more visible. Established in […]

The renowned ‘epic satoshi’ from the fourth halving block, also known as Sat # 1,968,750,000,000,000, fetched a price of 33.3 bitcoins, valued at just over $2.13 million on Thursday afternoon Eastern Standard Time. This satoshi, the smallest denomination of BTC, was sold for an astonishing 338 billion percent more than the typical value of a […]

Recent trends in the crypto market have indicated a notable shift in trader behavior, particularly among those investing in Bitcoin. Using data from CryptoQuant, Bloomberg has revealed that the Bitcoin funding rate—the cost for traders to open long positions in Bitcoin’s perpetual futures—has turned negative for the first time since October 2023. This change suggests a “cooling interest” in leveraging bullish bets on Bitcoin, coinciding with the fading impact of major market drivers. Related Reading: Is A $72K Bitcoin Surge On The Horizon? Glassnode’s Latest Analysis Points To An Answer Bitcoin Market Dynamics Post-Halving The decline in Bitcoin’s funding rate correlates with a reduction in net inflows to US spot Bitcoin Exchange-Traded Funds (ETFs), which previously pushed the cryptocurrency to record highs. Despite the anticipation surrounding the Bitcoin Halving—an event reducing the reward for mining new blocks and theoretically lessening the supply of new coins—the price impact has been surprisingly muted. According to Bloomberg, this subdued response has compounded the effects of broader economic factors, such as geopolitical tensions and changes in monetary policy expectations, leading to increased risk aversion among investors. Following the latest Bitcoin halving, the market has not seen the bullish surge many expected. Instead, Bitcoin has only seen a correction of over 10%, from its all-time high (ATH) in March with prices stabilizing in the $63,000 region, at the time of writing. As CryptoQuant’s Head of Research Julio Moreno pointed out, the recent downturn in Bitcoin’s funding rates to below zero underscores a “decreased eagerness” among traders to take long positions. According to Bloomberg, this trend is supported by a significant drop in daily inflows to US spot Bitcoin ETFs and a reduction in open interest in Bitcoin futures at the Chicago Mercantile Exchange (CME), which indicates a broader cooling of enthusiasm for crypto investments. [1/4] Bitcoin ETF Flow – 25 April 2024 – UPDATE pic.twitter.com/ojRayOFlnu — BitMEX Research (@BitMEXResearch) April 25, 2024 In a Bloomberg report, K33 Research analyst Vetle Lunde noted that the “current streak of neutral-to-below-neutral funding rates is unusual,” suggesting that the market might be entering a price-consolidation phase. Notably, this period of reduced leverage activity could potentially lead to further price stabilization, but it also raises questions about the near-term prospects for Bitcoin’s recovery. Adjustments In Mining Difficulty And Market Implications Interestingly, alongside these market adjustments, Bitcoin’s mining difficulty has increased for the first time immediately following the fourth halving. The difficulty adjustment, which occurs every 2016 block, increased by 2%, reaching a new high of 88.1 trillion, according to Bitbo data. This adjustment contradicts past trends where the difficulty typically decreased post-halving due to reduced profitability pushing less efficient miners out of the market. This anomaly in mining difficulty suggests that despite lower rewards post-Halving, miners remain active, possibly buoyed by more efficient mining technologies or strategic shifts within mining operations. Related Reading: Samson Mow On Bitcoin Halving: Brace For Supply Shock, Omega Candle In Sight This resilience in mining activity could help sustain the network’s security and processing power. Still, it reflects the complexities of predicting Bitcoin’s market dynamics solely based on historical halving outcomes. Featured image from Unsplash, Chart from TradingView

Over the past 24 hours, Ethereum (ETH), the second-largest cryptocurrency by market capitalization, has experienced a significant 5% price drop. This drop comes amid growing speculation that the highly anticipated Ethereum ETFs will likely be rejected by the US Securities and Exchange Commission (SEC) in the upcoming May deadline. US Bitcoin ETF Issuers Brace For SEC’s Expected Denial According to a recent Reuters report, various US Bitcoin ETF issuers and firms anticipate the SEC’s denial of their applications to launch ETFs tied to the price of ETH.  These expectations have been fueled by “discouraging meetings” between the applicants and the regulatory agency in recent weeks, as disclosed by four individuals familiar with the matter. Related Reading: Stellar The New Star: XLM On Tear As Analyst Predicts $0.47 Price Target Prominent investment firms such as VanEck, ARK Investment Management, and seven other issuers have submitted filings with the SEC to list ETFs that would track the spot price of Ethereum.  As the first in line, VanEck’s and ARK’s applications are subject to the SEC’s decisions by May 23 and May 24, respectively. The sources involved in the meetings between Bitcoin ETF issuers and the SEC have reported that the discussions have been primarily “one-sided,” with agency staff not engaging in substantive details about the proposed products.  This starkly contrasts the intensive and detailed discussions between issuers and the agency before the SEC’s landmark approval of spot Bitcoin ETFs in January.  The issuers argued during the meetings that the approval of spot Bitcoin ETFs and Ethereum futures-based ETFs by the SEC in October set a precedent for the spot ETH products. They also made efforts to address potential regulatory concerns.  Despite their arguments, the report notes that the SEC staff did not clarify specific concerns or engage in meaningful dialogue, further indicating a possible denial of the requests. Setback For Crypto Industry If these expectations materialize, it would be a setback for the cryptocurrency industry, which had hoped that the approval of spot Bitcoin ETFs would pave the way for similar products and contribute to the mainstream adoption of cryptocurrencies.  According to Todd Rosenbluth, head of ETF analysis at data firm VettaFi, the likely delay in approval or rejection until later in 2024 or beyond has left the regulatory landscape uncertain. While some issuers have expressed their intention to submit additional disclosure paperwork to continue the conversation with the SEC, the overall sentiment indicates a growing belief that the applications will be rejected. VanEck CEO Jan van Eck has already stated that the company’s application will likely be rejected, while ARK Investment Management has yet to comment. Rejected Ethereum ETFs Could Spark Potential Court Battles Several applicants expect the SEC to cite broader issues, such as the nature and depth of statistical data on the underlying ETH market, as reasons for their decision in the event of ETF rejections.  Matt Hougan, chief investment officer at Bitwise Asset Management, which has filed for a spot in Ethereum ETF, believes that the SEC may require more time to observe Ethereum futures and gather additional data. Related Reading: Why Is The Crypto Market Down Today? Key Reasons Explained Industry insiders further speculate that rejecting Ethereum ETFs could potentially lead to legal action, with one source suggesting that the courts may get involved before Ethereum ETFs eventually become a reality. The anticipated rejection has already influenced the price of Ethereum, with Hong Fang, president of the crypto exchange OKX, stating that the cryptocurrency is experiencing downward pressure as market participants factor in the likelihood of a negative outcome. Currently, ETH is trading at $3,100, further highlighting the cryptocurrency’s persistent downtrend over broader time frames. Over the past fourteen and thirty days, the token has experienced significant declines of 12% and 14%, respectively. Featured image from Shutterstock, chart from TradingView.com

On Thursday, the newly launched Runes protocol token named “DOG•GO•TO•THE•MOON” climbed to the pinnacle of Runes-based tokens in trade volume across non-fungible token (NFT) marketplaces, including Okx’s NFT market and Magic Eden. In 24 hours, the token amassed approximately $13.20 million in trade volume between these two platforms and now boasts a market capitalization of […]

HBAR, Hedera’s native token, saw a sharp correction following clarification that the world’s largest asset manager, BlackRock, was not directly involved in the tokenization of its ICS Treasury Fund on the Hedera network.  HBAR Token Crashes By Almost 35% Data from CoinGecko shows that the HBAR token has declined by almost 35% since its price rose by over 100% on the back of the announcement, which many misinterpreted to mean that BlackRock tokenized its fund on the Hedera network. On April 24, the Hedera Foundation shared that Blockchain trading firm Archax and Infrastructure firm Ownera had collaborated to tokenize BlackRock’s ICS US Treasury money market fund (MMF) on Hedera. Related Reading: XRP Price Ready For 70% Breakout As Long-Term Consolidation Nears Its End Members of the crypto community, including influencers like CrediBULL Crypto and Mason Versluis, misconstrued this as meaning that BlackRock had tokenized its fund on Hedera. This assumption immediately created a bullish narrative for the ecosystem, leading to HBAR’s price rallying by over 100% and peaking at $0.176.   However, the crypto token has since been on a downtrend, with BlackRock denying any involvement with Hedera. Specifically, a BlackRock spokesperson told Cointelegraph that the world’s largest asset manager “has no commercial relationship with Hedera nor has BlackRock selected Hedera to tokenize any BlackRock funds.” Meanwhile, Archax’s co-founder had also clarified on his X (formerly Twitter) platform that BlackRock wasn’t directly involved in the whole move. He claimed that tokenization of the fund can usually be done without the permission of the asset manager. However, he revealed that BlackRock knew they were tokenizing on the network. Why The News Is Still Bullish For The Hedera Ecosystem Despite BlackRock not being directly involved in this development, crypto analyst CrediBULL Crypto offered some perspective on why this news is still bullish for Hedera and its HBAR token. He revealed that BlackRock is the fourth largest shareholder of ABRDN, a firm that is a primary investor in Archax. Related Reading: Brace For Impact: Worldcoin Team Plans To Sell 1.5 Million WLD Tokens Every Week For 6 Months Therefore, the crypto analyst believes that BlackRock must have signed off on this move, something he considers a “de-facto endorsement of the product.” Meanwhile, he also alluded to an interview that revealed that BlackRock chose Hedera, although ABRDN introduced them to the network.  CrediBULL Crypto noted that even if BlackRock wasn’t building on the network, it is clear that “major enterprises are using Hedera.” They are “actively involved with building on the network and are constantly pushing to move it forward behind the scenes,” he added. He suggested that this puts Hedera above 99% of networks that can’t boast of such achievements.  HBAR price crashes 35% from highs | Source: HBARUSDT on Tradingview.com Featured image from Vecteezy, chart from Tradingview.com

According to recent data, transactions linked to the Runes protocol have been notably high in block utilization since its implementation on April 19. Figures from April 23 show that transactions involving Runes accounted for 81% of block usage on that day. In contrast, traditional financial activities constituted only 18.8% of the transactions processed. As Runes […]

The crypto market is in the red today, with a majority of the top-100 cryptocurrencies reflecting losses over the last 24 hours. Notably, only six altcoins, including two stablecoins, have managed to maintain a positive performance amidst a broader market sell-off. Several complex and intertwined factors have contributed to the day’s negative market sentiment, affecting major cryptocurrencies. Over the last 24 hours, the price of Bitcoin has decreased by 4.2%, Ethereum has fallen by 5.0%, Solana has dropped by 8.7%, XRP has declined by 4.7%, and Dogecoin has decreased by 8.3%. #1 Persistent Macroeconomic Uncertainty A primary factor influencing today’s market movements is the evolving macroeconomic landscape, particularly concerning US interest rates and inflation expectations. At the beginning of the year, the market anticipated aggressive monetary easing by the Federal Reserve. However, the sentiment has shifted considerably based on recent data and Federal Reserve signals. “Markets are pricing in fewer rate cuts for this year compared to the Fed’s dot plot projection of 3 rate cuts by year end. The implied fed funds rate for December has risen to 5.0%, indicating that the futures market is pricing in only 1 to 2 rate cuts,” Cetera Investment Management stated via X (formerly Twitter). This week, all eyes are on the release of the Personal Consumption Expenditures (PCE) price index for March—the Fed’s favored inflation measure on Friday, April 26 at 8:30 am EDT. Until then, the market could be in a derisk mode. Related Reading: How To Outperform In Crypto: Arthur Hayes’ ‘Left Curve’ Strategy The PCE is anticipated to present a varied view of inflation trends, which could strengthen the Federal Reserve’s inclination to delay any increases in interest rates. Analysts predict a slight increase in the overall PCE Price Index, rising to 2.6% year-over-year from 2.5% in February. Additionally, they expect a decrease in the index’s month-over-month change, dropping to 0.30% from 0.33%. #2 Crypto Market In Shock Over Legal Action Against Samourai Wallet The crypto market has also been rocked by yesterday’s legal developments involving the Samourai Wallet. The US Federal prosecutors’ decision to charge the founders Keonne Rodriguez and William Lonergan Hill with money laundering and operating an unlicensed money transmitting business has sent ripples through the crypto community. This action underscores the ongoing regulatory scrutiny within the crypto space. The prosecution of Samourai Wallet’s founders not only raises questions about the future of cryptographic privacy but also significantly impacts market sentiment as it underscores the legal risks inherent in the crypto sector. The implications of this case extend beyond the immediate legal concerns, influencing broader market perceptions and investor confidence. #3 Bitcoin And Crypto Are “Just Ranging” Further insights into market dynamics come from prominent crypto analysts who have commented on the state of market liquidity and trader behavior. “The market has gifted us with a beautiful reset in trader positioning for Bitcoin. OI weighted funding turned negative for the first time since October 2023. That was before Bitcoin ran from 27k to 46k without any meaningful dip,” said Ted, a crypto analyst on X. This reset refers to a reduction in the overheated futures market, which could allow the market to consolidate and potentially build a base for future upward movements. Related Reading: Akash Network (AKT) Leads Crypto Top 100 With 46% Rise Today: Here’s Why Emperor, another crypto analyst, described the current market state through a series of tweets, highlighting the ongoing consolidation phase post-highs: “Too much panic still on the timeline but we’ve been ranging since the ATH, that’s all.” He added, “The bear/bull line is an important resistance + Point of Control (PoC) of our range. Expecting VaL (Value Area Low) to hold on pullbacks and VaH (Value area High) to be the next target on longs if we reclaim level 1.” Bitcoin Price Update Too much panic still on the timeline but We’ve been ranging since the ATH, that’s all 1. The bear/bull line is a important resistance + Point of Control (PoC) of our range. Expecting VaL (Value Area Low) to hold on pullbacks and VaH(Value area High ) to… pic.twitter.com/4UTExqQv0n — Emperor👑 (@EmperorBTC) April 24, 2024 #4 Bitcoin ETFs Remain Muted Yesterday’s ETF flows were negative again. Only Fidelity’s FBTC and Ark Invest’s ARKB had minimal inflows. GBTC sold more again at -$130.4m and BlackRock had zero inflows for the first time ever since inception on January 11. Thus, BlackRock’s (IBIT) inflow streak ended at 70 days. Prior to this, IBIT entered into the top 10 all time after passing the ETFs like JETS, BND and VEA. Yesterday’s ETF flows by @FarsideUK.We are back to outflows and of course it’s Barry.We had $120.6 million in outflows yesterday.$GBTC did $130.4 million of outflows. Blackrock had 0. Which means that after 70 days for the first time they didn’t have any inflows. Price… pic.twitter.com/Akh1agezb6 — WhalePanda (@WhalePanda) April 25, 2024 Notably, the momentum for spot Bitcoin ETFs has waned significantly in the past two weeks. The last notable day of inflows was on March 26, when they surpassed $400 million—nearly a month ago. On the bright side, despite this slowdown, there have been no outflows from either BlackRock or Fidelity. Grayscale’s GBTC remains the primary negative factor driving outflows. Furthermore, there seems to be a decrease in investment willingness among traditional sector investors; the total inflows through ETFs have been stagnant for more than 30 days, coinciding with a flat trend in Bitcoin prices. At press time, BTC traded at $64,034. Featured image from Shutterstock, chart from TradingView.com

Between November 2023 and April 10, the number of active cryptocurrency users from the Middle East and North Africa using the Bitget platform grew by more than 1,400%. Bitget’s strong performance in the Middle East and North Africa is attributed to the region’s perceived high adoption rates and the generally friendly landscape for cryptocurrencies. Support […]

Other evidence suggests that the SEC will likely delay the approval of spot Ether ETFs, while Hong Kong will start trading such products next week.

The crypto bull market is well underway, with activity in the VC and early-stage funding sector mounting over the last few weeks as the highly anticipated Bitcoin halving approached. And, as the post-halving phase begins, increasing numbers of new projects are expected to come to market in search of funding. Indeed, the beginning of this […]

The BNB Chain core development team said the move aims to streamline the network and improve efficiency.

Stellar (XLM), a prominent player in the digital asset landscape, is experiencing a surge in optimism as analysts forecast a significant price increase in the near future. The cryptocurrency, currently priced at $0.1126, has demonstrated stability amidst market fluctuations, attracting investor interest and propelling a potential bullish trend. Source: Coingecko Related Reading: Solana Market Cap Skyrockets $11 Billion As Price Jumps 17% – Details Stellar Breaks Out Of Technical Pattern This newfound optimism stems from a recent technical breakout. XLM successfully emerged from an Ascending Triangle pattern, a bullish indicator that often precedes price surges. This breakout was further bolstered by a retest of the breakout level, solidifying the potential for an upward trajectory. Technical analysts are leveraging the measured move technique to predict XLM’s future price movement. This analysis suggests a target range spanning from 0.38 to 0.47 cents, aligning with Fibonacci levels 0.70 to 0.78. This range signifies substantial growth potential, enticing investors seeking profitable opportunities. Total crypto market cap currently at $2.2 trillion. Chart: TradingView Investor Confidence On The Rise Beyond technical indicators, investor confidence is playing a significant role in Stellar’s projected rise. The recent 2.50% price increase over the last 24 hours underscores this growing momentum. This shift in market sentiment indicates a bullish trend, potentially leading to a notable price appreciation in the coming months. Analyst Projects Stellar To Reach $0.47 Adding fuel to the fire, crypto analyst EGRAG CRYPTO recently shared a bullish forecast for XLM’s price trajectory. The analyst predicts a surge towards a promising target of $0.47, highlighting the potential for substantial growth. This bullish sentiment resonates with investors and enthusiasts, further bolstering confidence in Stellar’s future. #XLM Rockets Towards 0.47c! 🔥 #XLM has successfully broken out of the Ascending Triangle and is currently retesting the breakout level. This sets the stage for a potential bullish move. 📈 The measured move suggests a target range between Fib 0.702-0.786 (0.38-0.47c),… pic.twitter.com/bmezGMnrTI — EGRAG CRYPTO (@egragcrypto) April 23, 2024 The analysis digs deeper, identifying key Fibonacci retracement levels as crucial milestones for XLM. These levels not only serve as potential profit-taking targets for investors but also signify the strength of the upward momentum. XLM seven-day price action. Source: Coingecko Interestingly, the analysis suggests that XLM has the potential to surpass traditional technical indicators. Should the cryptocurrency surpass the formidable Fib 1.618 level, it could embark on a remarkable ascent, exceeding expectations and venturing into uncharted territory. Market Volatility Warns For Caution While the outlook for Stellar appears promising, it’s crucial to remember the inherent volatility of the cryptocurrency market. Unforeseen events and market fluctuations can significantly impact prices. Related Reading: Negative Nirvana? Decoding The First Bitcoin Funding Rate Dip Of 2024 Despite the inherent risks, the technical indicators and growing investor confidence paint a compelling picture for Stellar’s future. As the digital asset landscape continues to evolve, Stellar’s potential for significant growth is undeniable. Featured image from Pexels, chart from TradingView