The post ChatGPT Predicts Bitcoin Price : When Will BTC Price Initiate Bull Run? appeared first on Coinpedia Fintech News After a massive dump in April of 15%, the Bitcoin price is struggling to kick off the next bull run. As the market anticipates a massive jump after the fourth Bitcoin halving, the BTC price struggles near the $60,000 level. The market grows fearful with the halving moth turning red and the growing supply. Further, the 9 Bitcoin ETFs in the U.S. market failed to perform any significant bullish move in the past few weeks. Contrary to the historic price trend suggestion of an extraordinary bull run, the current market sentiments spotlight certain speedbumps. So, we asked the ChatGPT to predict when will the bull run in Bitcoin start. Bitcoin Price Performance In the short-term picture, the Bitcoin price trend is under extreme supply pressure, evident by the ongoing pullback. As the pullback grows intense, the BTC price is on the verge of violating the $60,000 support twice in a matter of days. Thus, the biggest crypto, dominating almost 53% of the industry, is losing its bullish grip. Tradingview Currently, the BTC price trades at $60,810, with a Doji candle forming in the monthly chart. Further, the 5% drop this week puts the support zone at risk and warns of a downfall. However, if the history stays true, the Bitcoin is awaiting a pivot point for a massive bull run in 2024. So, let’s ask the Artificial Intelligence, ChatGPT, to predict when will the bull run start. ChatGPT Predicts Bitcoin To Surge In June! Providing the AI model with our price analysis and the monthly chart marking the Bitcoin halving, ChatGPT provides a bullish view. With high anticipation of a bull run, the AI predicts the bull run will start this June at a gradual pace. However, the high momentum uptrend could increase in November after the October rally.
The post Ripple CEO Reveals Big Win Against SEC appeared first on Coinpedia Fintech News In a recent episode of Chris Vasquez’s Worldclass podcast, Ripple’s CEO Brad Garlinghouse revealed the biggest achievement of the company during the lawsuit of Ripple vs SEC that has been running for the past 4 years. Brad shared that dark times started for the company when Ripple got sued. He also shared that last year when the federal judge Analisa Torres ruled that XRP sales on secondary markets do not qualify as security sales, it was a big win not just for Ripple but for the entire industry.
The post Analyst Davie Satoshi Claims Shiba Inu to Achieve 30X Returns appeared first on Coinpedia Fintech News Analyst Davie Satoshi argued that Shiba Inu is a prime candidate among crypto assets capable of rallying by 3000% in this bull run. He claims Shiba Inu to be one of the meme-based crypto that could achieve 10x to 30x returns without ever dropping to zero. Shiba Inu’s performance post-Bitcoin’s last halving has seen gains surpassing 800,000% and has consistently maintained its position in the top 20 most valuable cryptos. As per Davie’s prediction of SHIB surging by 3000%, the Shiba Inu token is anticipated to reach between $0.0002251 and $0.0006753 within the next year.
The post Crypto Weekly Report: Analyzing the Week’s Key Events and Market Movements in Blockchain appeared first on Coinpedia Fintech News This analysis report, backed by quality data, covers the major developments the Web3, Blockchain and Crypto sector has experienced this week. 1. Breaking News This Week Ethereum’s Eclipse CEO Steps Back Amid Misconduct Allegations Neel Somani, CEO of Ethereum’s Eclipse project, reduces role following sexual misconduct allegation, asserting innocence while acknowledging gravity of situation. Kraken Questions SEC’s Case Amid Ongoing Dispute Kraken challenges SEC’s lawsuit accuracy, three months after filing motion to dismiss, regarding charges of unregistered brokerage activities. Bitcoin Falls as Federal Reserve Mulls Inflation Combat Tactics Bitcoin price drops to $60,934.11 as Federal Reserve evaluates strategies against persistent inflation in the United States. Nigerian Government Denies Binance Bribery Allegations Nigerian government refutes Binance CEO’s claim of $150 million bribe demand to settle criminal charges, labelling allegations as baseless diversionary tactics. Canada Fines Binance Over Anti-Money Laundering Violations Canada imposes fine on Binance for violating anti-money laundering regulations, citing non-compliance with rules related to operating as foreign money services business. Trump Plans Cryptocurrency Donations for Election Campaign Former President Trump intends to accept cryptocurrency donations for his 2024 U.S. presidential campaign, signalling a shift in approach toward crypto compared to the Biden administration. White House Blocks Republican Effort on Crypto Custody Services White House vows to veto House Resolution 109 aimed at freeing banks to offer crypto custody services, despite passing through the House of Representatives, halting hopes for U.S. crypto banking. Chainlink Integration Powers Hong Kong Dollar Stablecoin RD Technologies integrates Chainlink CCIP and Proof of Reserve to support Hong Kong dollar stablecoin, enabling secure cross-chain transfers and on-chain verification of reserve backing. SEC Issues Wells Notice to Robinhood Amid Legal Threat Robinhood receives Wells Notice from SEC, adding to list of crypto trading platforms facing legal action, asserts platform doesn’t list securities, deeming SEC’s case weak. 2. Blockchain Performance In this section, we will analyse two factors primarily: the top-performing blockchains based solely on their 7-day change and the top performers among the top five blockchains with the highest TVL. 2.1. Top Blockchain Performers by 7-Day Change This week’s top blockchain performers, based on their 7-day change, are opBNB, BNB Smart Chain, Ronin, Near Protocol, and Cosmos. Last week, the top performers were Core, ZetaChain, StarkNet, Scroll and Filecoin. None of these chains could enter the list this week. Blockchain 7-Day Change (in %)TVLopBNB+17.1%$29,035,685BNB Smart Chain +12.1%$6,029,605,772Ronin+5.1%$187,485,507Near Protocol+5.0%$317,732,963Cosmos +4.7%$1,372,069 opBNB marks the highest 7-day change of +17.1%. BNB Smart Chain closely follows with +12.15%. Ronin, Near Protocol, and Cosmos register +5.1%, +5.0% and +4.1% respectively. 2.2. Top Performers: 7-Day Change in Top 5 Blockchains with Highest TVL Ethereum, TRON, BNB Smart Chain, Solana, and Arbitrum One are the top five blockchains in the market on the basis of TVL and market dominance. Let’s see how the top five blockchains have performed this week, using 7-day TVL change. Compared to the last week, this week, the dominance of Ethereum has slightly decreased from 63.26% to 61.52%. Similarly, BNB Smart Chain has seen an increase from 6.18% to 7.15%. Blockchain Dominance (in %) 7d Change (in %) TVL Ethereum61.52%-5.7%$51,847,288,647TRON9.74%-2.3%$8,211,022,800BNB Smart Chain 7.15%+12.1%$6,029,605,772Solana 4.77%+2.6%$4,022,451,729Arbitrum One 3.01%-3.4%$2,540,928,822Others13.80% Among the top five chains by TVL, BNB Smart Chain marks the highest 7-day change of +12.1%. Solana follows with +2.6%. The chain with the highest negative 7-day change is Ethereum, which records a change of -5.7%. Arbitrum One follows with a negative change of -3.4% Also Read: Blockchain Report & Market Insights for April 2024: What You Should Know 3. Crypto Market Analysis The crypto 7-day price change and dominance analysis and top gains and losers analysis are the two prime areas of the crypto market analysis. 3.1. Crypto 7-D Price Change and Dominance Analysis Bitcoin, Ethereum, Tether, BNB, and Solana are the top cryptocurrencies as per the market cap and dominance indices. Let’s analyse their seven-day price change. Compared to the previous week, the dominance of Ethereum has slightly reduced from 15.23% to 14.78%. Others have experienced only minimal changes. Cryptocurrency7-D Change (in %)Dominance Percentage PriceMarket CapBitcoin -3.9%50.71%$60,934.11$1,200,268,706,365Ethereum -6.4%14.78%$2,921.19$350,807,094,812Tether -0.0%4.68%$1.00$110,844,032,187BNB+0.0%3.81%$586.70$90,180,359,491Solana +0.4%2.77%$145.83$65,235,323,274Others 23.25% Among the top five cryptocurrencies by market cap, only Solana marks a positive change; it records a change of +0.4%. The highest negative change is shown by Etherem, which registers a change of -6.4%. Last week, Bitcoin and Tether showcased positive changes. This time, Bitcoin displays a negative change of -3.9%, and Tether shows a change of -0.0% 3.2. Top Gainers & Losers of the Week in Crypto Market Here is the list of top gainers and top losers of the week in the cryptocurrency market. The analysis is made using the 7-day Gain and 7-day Lose indices. 3.2.1. Top Gainers of the Week in Crypto Cryptocurrency 7-Day Gain Price Akash Network +35.02%$5.85Render +30.09%$10.87Toncoin +20.60%$6.97Arweave +16.59%$41.24Kaspa+15.06%$0.1283 Akash Network, with +35.02% gain, is the top gainer of the week. Render and Toncoin follow with +30.09 gain and +20.60% gain, respectively. Arweave and Kaspa show +16.59% gain and +15.06% gain, respectively. In the previous week, Pepe was the top gainer. That time, a trend favourable towards memecoins was visible. This time, what we see is a trend favouring AI & Big Data tokens. 3.2.2. Top Losers of the Week in Crypto Cryptocurrency 7-Day LossPrice Core -21.20%$1.62Wormhole -20.50%$0.5974Bonk -19.25%$0.00002309Stacks -17.34%$2.01Lido DAO-14.40%$1.78 Core, with a 7-day loss of -21.20%, is the top loser of the week. Wormhole follows with a 7-day loss of -20.50%. Bank registers a loss of -19.25%, and Stacks displays a loss of -17.34%. Lido DAO reports a loss of -14.40%. Last week, the biggest losers were Helium, Sui, Ondo, Polkadot, and Beam. This time, we see none of them in the list, giving an impression that they have improved its performance. 3.3. Stablecoin Weekly Analysis Tether, USDC, DAI, First Digital USD, and Ethena USDe are the top stablecoins in the market in terms of market capitalization. Let’s analyse their weekly performance using seven-day market capitalisation, market dominance and trading volume indices. Stablecoins Market Dominance (7d) [in %]Market Capitalisation (7d)Trading Volume (7d)Market CapitalisationTether 70.63%$110,774,390,760$43,232,517,723$110,839,699,373USDC21.11%$33,104,074,658$6,085,824,820$33,106,032,488Dai 3.48%$5,459,263,317$591,430,715$5,465,103,817First Digital USD2.43%$3,813,866,678$6,017,294,988$3,818,135,796Ethena USDe1.47%$2,302,513,937$55,284,303$2,302,847,630Others 0.87% Tether dominates the stablecoin market with a dominance percentage of 70.63%. USDC follows with an impressive dominance percentage of 21.11%. Dai, First Digital USD and Ethena USDe show 3.48%, 2.43% and 1.47% dominance, respectively. Compared to the previous week’s market dominance data, we see no significant changes in dominance of any of the top five stablecoins. 3.3.1. Stablecoin Weekly Price Analysis Let’s analyse the weekly performance of the top stablecoins further using the seven-day price change index. Stablecoins 7-Day Price Change (in %)PriceTether -0.0%$1.00USDC-0.2%$1.00Dai +0.1%$0.9982First Digital USD-0.0%$1.00Ethena USDe+0.3%$1.00 Among the top five stablecoins by dominance, this week, Ethena USDe and Dai display +0.3% and +0.1% change, respectively. USDC shows a negative change of -0.2%. Tether and First Digital USD showcase no change. Last week, only Dai showed stability. The others showed positive changes, ranging from +0.1% to +0.4% Also Check Out: Stablecoin April 2024 Report: An In-Depth Performance Analysis. 4. Bitcoin ETF Weekly Analysis Bitcoin Futures ETFs and Bitcoin Spot ETFs should be analysed separately, in order to get the right picture of the Bitcoin ETF market, as they represent two different segments. Let’s start! 4.1. Bitcoin Futures ETF Weekly Analysis ProShares (BITO), VanEck (XBTF), Valkyrie (BTF), Global X (BITS), and Ark/21 Shares (ARKA) are the top Bitcoin Future ETFs, as per the Asset Under Management index. Let’s use the price change percentage index to analyse these ETFs. Bitcoin Futures ETFsPrice Change (Gain/Loss) [in %]Asset Under Management (in Million)Price Proshares (BITO)-2.84%$598.78M$24.64VanEck(XBTF)+0.33%$42.41M$39.22Valkyrie (BTF)-3.38%$38.20M$17.44Global X(BITS)-3.71%$26.10M$59.63Ark/21 Shares (ARKA)-2.16%$8.01M$58.36 Among the top five Bitcoin Futures ETFs by Asset Under Management, this week, only VanEck shows a positive change of +0.33%. The others showcase negative changes. With -3.71% change, Global X records the highest negative change. Valkyrie, Proshares and Ark/21 Shares follow with -3.38%, -2.84% and -2.46%. In the previous week, all of these ETFs expressed positive changes. The one with the highest change was Ark/21 Shares, which recorded a change of +4.72%. 4.2. Bitcoin Spot ETF Weekly Analysis Grayscale (GBTC), Blackrock (IBIT), Fidelity (FBTC), Ark/21 Shares (ARKB), and Bitwise (BITB) are the top Bitcoin Spot ETFs, as per the Asset Under Management index. Let’s analyse them using the price change index. Bitcoin Spot ETFsPrice Change (Gain/Loss) [in %]Asset Under Management (in Billion)Price Grayscale (GBTC)-2.84%$24.33B$53.99BlackRock(IBIT)-2.81%$17.24B$34.58Fidelity (FBTC)-2.95%$9.90B$53.05Ark/21 Shares (ARKB)-2.98%$2.85B$60.64Bitwise (BITB)-2.85%$2.16B$33.07 Among the top five Bitcoin Spot ETFs by AUM, none of them show a positive change. Ark/21 Shares records the highest negative change of -2.98%. The others closely follow with changes ranging between -2.95% to -2.81%. Last week, all of these ETFs displayed positive changes. None of them showed a change lower than 4%. This Might Interest You: Should You Invest in Bitcoin ETFs? Detailed Monthly Review and Analysis for April 2024 5. DeFi Market Weekly Status Analysis Lido, EigenLayer, AAVE, Maker, and JustLend are the five top DeFi protocols on the basis of TVL. Let’s analyse its weekly performance using the 7d Change index. DeFi Protocols7d Change (in Total Value Locked) [in %]TVLLido-6.16%$27.448BEigenLayer -7.60%$14.368BAAVE-3.02%$10.297BMaker -1.58%$8.062BJustLend -2.78%$5.963B Among the top five DeFi protocols by TVL, this week, none of them registers positive changes. The highest negative change of -7.60% is recorded by EigenLayer. Lido closely follows with -6.16%. AAVE, Just Lend and Maker display -3.02%, -2.78%, and -1.58%, respectively. Last week, all of these DeFi protocols experienced positive changes. EigenLayer recorded the highest positive change of +1.08%. Maker followed with a change of +0.95%. 6. NFT Marketplace: A Basic Weekly Analysis Blur, Blur Aggregator, Cryptopunks, Gem and X2Y2 are the top NFT marketplaces on the basis of market share. Let’s analyse them using the Volume Change (change of last 7d volume over the previous 7d volume) index. Compared to the previous week, this week the market share of Cryptopunks has witnessed a considerable increase from 2.99% to 14.98%. Conversely, Blur has experienced a notable reduction from 69.55% to 57.83%. NFT Marketplaces Volume Change [Last 7 Day over the Previous 7 Day Volume]Market Share7-day Rolling Volume 7-day Rolling Trades Blur -29.12%57.83%11414.7121540Blur Aggregator -30.39%23.19%5075.319015Cryptopunks +15.57%14.98%1520.4831Gem-1.02%1.02%269.541457X2Y2+32.90%0.81%300.36158Others 2.17% Among the top five NFT marketplaces by market share, this week, X2Y2 records the highest volume change of +32.90%. Cryptopunks follows with +15.57%. Gem registers a change of -1.02%. Blur Aggregator and Blur show -30.39% and -29.12% change, respectively. In the previous week, the only one market place which showcased a positive change was Blur. It marked a change of +17.82%. That week, Cryptopunks, with -73.99% change, was the one that showed the highest negative change. 6.1. Top NFT Collectible Sales this Week CryptoPunks #3619, CryptoPunks #4926, Azuki #4357, CryptoPunks #2549, and BOOGLE #Hwh6Z4 are the top NFT collectable sales reported this week in the NFT market landscape. NFT Collectibles Price (in USD)CryptoPunks #3619$627,990.88CryptoPunks #4926$329,252.84Azuki #4357$273,445.56CryptoPunks #2549$194,213.80BOOGLE #Hwh6Z4$192,124.10 CryptoPunks #3619 is priced at $627,990.88, which is the highest recorded this week. CryptoPunks #4926, priced at $329,252.84, is the second best price. Azuki #4357 ($273,445.56) and CryptoPunks #2549 ($194,213.80) hold the third and fourth positions in terms of price, respectively. BOOGLE #Hwh6Z4 is priced at $192,124.10. 7. Web3 Weekly Funding Analysis 7.1. General Crypto Fundraising Trend Analysis Between May 6th and 12th, 2024, the number of fundraising rounds reported is over 30. The total funds raised in this period is around $142.50M. Previous week, between April 29th and May 5th, 2024, the number of fundraising rounds reported was 30, the same as the one reported now. But, the total funds raised in that period was $143.96M, slightly higher than the one reported this week. The two prime areas of the general crypto fundraising trend analysis are the crypto fundraising by category analysis and the top crypto investment locations analysis. 7.1.1. Crypto Fundraising by Category This Week Blockchain Infrastructure, Blockchain Services, CeFi, Chain, DeFi, GameFi, NFT and Social are the categories, which witnessed activities this week. Let’s analyse them using the Number of Fundraising Rounds and Funds Raised in USD indices. Category Number of Fundraising Rounds May 6 – 12, 2024Funds Raised in USDMay 6 – 12, 2024Blockchain Infrastructure 7$41.90MBlockchain Services 8$25.10MCeFi4$32.50MChain 3$9.50MDeFi2$7.00MGameFi3$13.50MNFT2$10.00MSocial 1$3.00M This week, Blockchain Infrastructure, raised the highest amount of $41.90M, receives the first position. CeFi, raised $32.50M, gets the second. Blockchain Services, with $25.10M, remains in the third position. GameFi, NFT and Chain raised $13.50M, $10.00M, and $9.50M, respectively. DeFi and Social secured $7.00M and $3.00M, respectively. In the previous week, CeFi, raised $47.00M, was the category that attained the first position in terms of funds raised. DeFi and Social followed with $28.00M and $20.00M funds raised, respectively. 7.1.2. Top Crypto Investment Locations This Week Apart from the undisclosed, Singapore, Switzerland, United States, Sweden, Hong Kong and United Kingdom are the top crypto investment locations this week. Crypto Investment LocationsFunds Raised in (%)Funds Raised in USDNumber of Fundraising RoundsUndisclosed 84%$120.76M23Singapore 5%$7.00M1Switzerland 4%$5.50M1United States 4%$5.60M2Sweden 1%$1.60M1Hong Kong1%$1.50M1United Kingdom1%$1.00M1 This week, Undisclosed raised the highest amount of $120.76M, which is almost 84% of the total funds raised. Singapore and Switzerland secured $7.00M and $5.50M, respectively, which are just 5% and 4% of the total funds raised. The United States raised $5.60M, which is also 4% of the total amount raised. Sweden, Hong Kong, and the United Kingdom attained $1.60M, $1.50M, and $1.00M, respectively – each represents just 1% of the total funds raised. Last week, the United States, which became the top performer by funds raised, amassed nearly $58.80M – which was around 45% of the total funds raised. This week, we see an unusual growth of Undisclosed – the amount of money it collected last week was under 43% of the total funds raised. What we see in undisclosed is a 41% gain in the share of the total funds raised; in the United States is a 41% loss. 7.2. ICO Landscape: A Weekly Overview ICOFund Received Token Price Fundraising GoalTotal Tokens Token (Available for Sale)Trailblaze$1,430,000$0.015$730,000420,000,00030.3%Morpheus N/AN/AN/A42,000,000N/A Trailblaze and Morpheus are the major ICOs that ended this week. Let’s analyse how much amount they received. Trailblaze raised an impressive sum of $1,430,000. Its token price is $0.015 and its token (available for sale) is 30.3%. 8. Weekly Blockchain Hack Analysis As of May 11th, 2024, hackers have stolen a total of $7.82 billion, mostly from decentralised finance (DeFi) platforms and blockchain bridges. DeFi platforms suffered the most significant losses, about $5.9 billion, while bridges connecting different blockchains lost around $2.83 billion. The two major hacks reported recently are Yield Protocol Hack and Pike Finance Hack. Both these hacks were reported on the last day of the previous month, 30th April, 2024. Yield Protocol lost about $181,000 due to a balance disparity exploit. Around $1.6 million was stolen from Pink Finance using a storage misalignment exploit. In the month of May, so far, no major hacks have been reported. Endnote In this week’s comprehensive analysis of Web3, Blockchain and Crypto, we have brought out powerful insights, which can be used to stay-to-data about the market developments. As the landscape evolves, the strategic integration of technology and data-driven decision-making becomes paramount for stakeholders navigating the dynamic realms of decentralised technologies.
Traditional firms like JPMorgan and WisdomTree are seeking to turn Project Guardian’s blockchain proofs-of-concept into scalable financial products.
The post First-Mover Advantage: Why ETFSwap (ETFS) Is On The Same Path As Bitcoin And Ethereum appeared first on Coinpedia Fintech News Following in the path of Bitcoin (BTC) and Ethereum (ETH), a novel market-moving DeFi platform, ETFSwap (ETFS), has leveraged first-mover advantage to launch a premier Ethereum-based tokenized trading solution for exchange-traded funds (ETFs) in the cryptocurrency world. The first-mover advantage, just like in any other financial sector, gives a competitive edge in being the first provider of an innovation or a solution. This is exactly what Bitcoin (BTC) and Ethereum (ETH) have in the cryptocurrency market, as both cryptocurrencies were the first to offer certain cryptocurrency solutions and innovations. As a result, these crypto coins are the most valuable crypto assets today, and ETFSwap (ETFS) is set to follow that path. Bitcoin (BTC): The Premier Digital Store Of Value Bitcoin (BTC), the most valuable crypto coin with a market capitalization of over $1 trillion, paved the way for the life-changing, trillion-dollar market we know today — the cryptocurrency market. Introduced in 2008 by Satoshi Nakamoto, Bitcoin (BTC) is still riding the first-mover advantage of being the premier digital store of value and the premier crypto coin. Bitcoin (BTC) introduced blockchain technology and laid the foundation for every other crypto coin in existence today. This first-mover advantage is evident in the influence and recognition that Bitcoin (BTC) has in the crypto and financial world at large. Evidently, Bitcoin (BTC) is the foremost market-mover in the crypto space as a significant move in its price most times affects all altcoins and crypto tokens. Also, Bitcoin (BTC) achieved a milestone in digital transactions and payments by becoming a legal tender in El Salvador in 2021. With blockchain advancements revolutionizing the crypto world, major crypto analysts only see more adoption for crypto coins such as ETFSwap (ETFS) when Bitcoin moves past its all-time high of $73,830. Ethereum (ETH) Changed The Game With DeFi Just like Bitcoin (BTC), Ethereum (ETH) had a first-mover advantage by introducing the decentralized finance (DeFi) ecosystem to the cryptocurrency market. Ethereum (ETH) was the first blockchain to introduce smart contracts and decentralized applications (dApps) to the crypto world. Consequently, Ethereum (ETH) has become the developers’ choice for hosting smart contracts, dApps, and other DeFi projects and protocols. This first-mover advantage has placed Ethereum (ETH) solidly in the number 2 crypto spot. It is now the second most valuable coin, with a market capitalization of over $350 billion, as of writing. More so, Ethereum (ETH) is touted to keep an upward momentum in crypto innovations with the Ethereum 2.0 launch. This launch has brought advancements such as a reduction in energy consumption, a switch to a more efficient proof-of-stake consensus, and a more scalable and secure ecosystem. Crypto analysts and stakeholders all back Ethereum (ETH) maintain its upward trajectory and surge past its all-time high of $4,879. However, it continues to struggle to break resistance above $3,100. ETFSwap (ETFS): The First-Mover Premier Tokenized ETFs Solution ETFSwap (ETFS), an Ethereum-based exchange-traded funds platform, is the next crypto platform touted to be on the same path as Bitcoin (BTC) and Ethereum (ETH) for a massive first-mover advantage as it brings the crypto world’s first and most efficient solution for tokenized ETFs. Ever since Blackrock’s CEO, Larry Fink, announced his support for ETFs, saying that they are the “next generation for markets,” the adoption of exchange-traded funds in the crypto world skyrocketed. In turn, this has necessitated the need for an efficient, profitable, and secure mechanism for trading ETFs on the blockchain, and ETFSwap (ETFS) is just that! ETFSwap (ETFS) operates a permissionless ecosystem of institutionally listed exchange-traded funds, allowing both retail and commercial investors access to invest and trade with the numerous ETF assets on-chain. This genius innovation caters effectively to a profitable and efficient ETF trading ecosystem where investors can maximize profits over flexible ETF asset options. This unparalleled trustless and decentralized ETF trading platform operates as both an ETF administration platform and an institutional ETF trading platform that offers its investors access to institutional ETFs powered by the native ETFS token. This prospect alone has major crypto analysts and stakeholders tipping the ETFS token for market-dominating prices. The ETFSwap (ETFS) ecosystem is investor-oriented as it goes further to provide staking, swapping, and perpetual futures and options for its investors to maximize profit-making, boosting the possibility of 10X on your investments. These groundbreaking ETF trading innovations powered by the ETFSwap (ETFS) ecosystem have started to pull in massive whale buy-ins. Following a very successful private sale, ETFSwap (ETFS) has recorded a sale of over 60 million tokens in its ongoing stage 1 presale. Going for a steal price of $0.00854 per token, investors are rushing to get in as the price is well placed to jump to $0.01831 in stage 2 presale. For more information about the ETFS Presale: Visit ETFSwap Presale Join The ETFSwap Community
The post Markets Tear Down the Longs Who Aped Above $63,000; Here’s Where the Bitcoin (BTC) Price May Head Next appeared first on Coinpedia Fintech News The crypto markets are down by over 3% as the bears managed to trap the bulls after pretending to be inactive for a couple of days. Besides, the Bitcoin (BTC) price has also plunged by over 3.7%, marking interim lows at $60,487 from the highs slightly above $61,000. The market dynamics appear to have been laid down to trap the traders at the local highs as the bearish trade set-up continues to prevail. The BTC price experienced significant volatility with a bearish impulse, trading within a descending parallel channel. Hence, it seems that the price is stuck within a very crucial range, which suggests a bearish continuation may prevail for a long time. A popular analyst, Micheal van de Poppe believes that Bitcoin’s final ‘wash’ could happen in the $52,000 to $55,000 range anytime soon. As per the above chart, the Bitcoin price is subjected to a final pullback to the lower support range of around $55,000 to $56,000. Following a bearish consolidation, the price is likely to trigger a strong rebound that could range close to the current ATH at $73,750. However, this trade is expected to consume more time than expected. Presently, more than $150 million in longs that were entered, a few hours ago have been squeezed and a lot of open interest has been taken out. Therefore, a few more of these are needed, and then the Bitcoin price is likely to go up. In the meantime, the maximum amount of money will be extracted from the impatient players. Meanwhile, the weekend is fast approaching and with the volatile price action into the CME close. Hence, there could be a good chance to create a gap, which may be filled during the next price action.
Corpay, a corporate payments company based in Atlanta, California, has announced its intention to acquire Paymerang, a player in accounts payable automation