Features Crypto News by Thebittimes.Com

The US House Financial Services Committee has released a statement saying the US Securities and Exchange Commission (SEC) was contradictory in its Ethereum (ETH) sec urity claim. Indeed, they note that the claims about ETH’s sec urity status directly contradict statements from the agency’s chairman, Gary Gensler. Within the statement, the US Banking Committee claimed they will “continue to hold the SEC accountable for its regulatory overreach” within the digital asset market. The questions regarding the agency’s classification of Ethereum have been critical in ongoing applications to issue the United States’ first Spot ETH ETF. Classifying #ETH as a security contradicts previous statements of the SEC and Chair Gensler. Republicans will continue to hold the SEC accountable for its regulatory overreach that is stifling innovation, leaving consumers unprotected, and risking our national security. https://t.co/XohLYtp7EF — Financial Serv...

After the crypto currency market started to drop following the disappointing trading volumes of the new Hong Kong spot Bitcoin (BTC) exchange-traded fund (ETFs), things have been particularly bad for the related crypto asset, which has dipped to the area of $61,000 in a matter of minutes. As it happens, the six Hong Kong ETFs with exposure in Bitcoin and Ethereum (ETH) have drastically missed market expectations on the first day of trading, with a combined trading volume of only $11 million, a fraction of the expected $125 million, as crypto market analyst WhaleWire noted on April 30. JUST IN: CRYPTO MARKETS DROP AFTER HONG KONG #BITCOIN ETF RECORDS LOW DEMAND. The 6 Hong Kong ETFs drastically missed market expectations on the first day of trading, with a combined trading volume of only $11 million, a tiny fraction of the $125 million many expected. — WhaleWire (@WhaleWire) April 30, 2024 According to the analyst, this isn’t a surprise, as WhaleWire highlighted the “...

The non-fungible token market hasn’t fully recovered after suffering an atrocious meltdown in the past several weeks, leaving many NFTs losing more than 30% of their value. Fortunately, the non-fungible token market has seen bullish growth this week, marked by increased trading sales volume and adoption. In this article, we have listed some of the top-selling NFT collections this week. Data compiled by cryptoslam.io, an on-chain multi-chain non-fungible token market explorer and a cryptocurrency data and analytics company, indicates that the global non-fungible token market has seen a light charge this week. In the past 24 hours, the NFT market has recorded a trading sales volume of $27 million, representing a 25% spike from the previous day. Here are top selling NFT collections this week:   1. Bored Ape Yacht Club NFT Collection The Bored Ape Yacht Club, a non-fungible token collection from the digital asset firm Yuga Labs featuring a limited edition of 10,000 NFT colle...

Following the fourth Bitcoin Halving , Rekt Capital, a popular cryptocurrency trader and expert, has offered a compelling narrative on the future trajectory of Bitcoin, predicting that the crypto asset could peak this bull cycle in the following year. Rekt Capital’s Analysis emphasizes on the possibility that this current cycle could reiterate past Halving cycle trends, positioning BTC for significant gains in the coming months. Bitcoin Could Mirror Past Halving Cycle According to the analyst, Bitcoin reached its all-time high within 518 days following the Halving in the 2015–2017 cycle. Meanwhile, after the event in the 2019-2021 bull cycle, the digital asset topped out within 546 days. This suggests that the event has always catalyzed massive growth for the leading cryptocurrency asset. Related Reading: Legendary Trader Predicts When Bitcoin’s Bull Run Will End Should the past trend hold, the next bull market top might happen between 518 and 54...

According to a report by Bloomberg, Australia might get its first spot Bitcoin (BTC) ETF (Exchange Traded Fund) later this year. According to the report, the Australian Securities Exchange (ASX) might greenlight the first spot BTC ETF application by the end of 2024. JUST IN: Australia set to approve Spot #Bitcoin ETFs this year, Bloomberg reports. — Watcher.Guru (@WatcherGuru) April 29, 2024 Bloomberg notes that several issuers are lining up to launch their products on ASX. Some of these issuers include BetaShares, VanEck, and DigitalX. According to a spokesperson for ASX, the exchange is currently engaging with several issuers. Also Read: Solo Bitcoin Miner Secures 3.125 BTC With Block Solve Spot Bitcoin ETFs seem to be spreading like wildfire. The US SEC (Securities and Exchange Commission) approved 11 applications in January 2024. Hong Kong will begin trading its first spot BTC ETF on Apr. 30, 2024. Now, Australia is gearing up to join the bandwagon. Will ...

According to the latest on-chain revelation, the Bitcoin network has been experiencing a steady decline in high-value transactions over the last few weeks. This sluggish activity has been mirrored by the price of the premier cryptocurrency, which has struggled to break out of consolidation throughout the month of April. In the past week, the Bitcoin price struggled to hold above $67,000 despite touching the level multiple times. The price of BTC has since been in a tumble and is down by more than 2% in the last seven days, according to data from CoinGecko. Interestingly, the recent on-chain data suggests that this underwhelming price performance might persist for the market leader unless there is a turnaround, especially in terms of network activity. Can Whale Activity Push BTC Price Beyond $73,000? Prominent cryp...

The story has not been any much different for Bitcoin, with its price still stuck in a consolidation range in the past week. The sluggishness of the premier cryptocurrency – and the general market – has continued despite the completion of the halving event over a week ago. The halving event, which saw mining rewards take a significant cut, was expected to usher in another round of bullishness for the Bitcoin price. On the contrary, investors appear to be getting frustrated with the slow activity of the market, with many calling for the dump of BTC. Bitcoin Sell Calls At Increased Rate: Blockchain Firm According to a recent report by on-chain analytics firm Santiment, investors are increasingly calling for the sale of Bitcoin across social media following its latest drop toward $63,000. The relevant metric here is the “social volume” indicator, which tracks the number of unique posts and messages on different social platforms that mention a spe...

2024 sees cryptocurrency surging again as a fresh wave of crypto presales and initial coin offerings (ICOs) capture investor attention in Q2. These presales enable crypto enthusiasts to purchase tokens before they hit major exchanges, typically at lower prices, as they search for the next big crypto coin. Each project, whether it’s meme-inspired tokens or environmentally friendly crypto, offers its own special Features and ambitious plans, attracting early investors with the promise of big profits. Therefore, this article delves into five new cryptocurrencies in their presale stages that could bring substantial returns on investment. Dogeverse (DOGEVERSE) Dogeverse strategically launches just before April 20, known as Doge Day, capitalizing on the excitement around this event. Over $5 million floods into the presale within the first week. Dogeverse (DOGEVERSE) is one of the hottest new cryptos, offering the first multi-chain Doge token. It’s inspired by Cosmo, a Doge...

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. ...

In a collaborative effort, the Bank of Russia and Rosfinmonitoring are developing a platform to uncover links between cryptocurrency transactions and traditional fiat operations. This initiative is part of broader efforts to assess the scope of the domestic cryptocurrency market. The financial watchdog of the country, Rosfinmonitoring, in conjunction with the central bank, is piloting this new system. Russia Advances in Crypto-Fiat Transaction Tracing Ilya Bushmelev, director of project portfolio management at Innotech, shared insights at a forum hosted by Rosfinmonitoring. He disclosed that the system is in the pilot phase, being tested by five undisclosed financial institutions. The pilot is set to continue until the end of May, though it could be extended depending on the findings. Bushmelev emphasized that the pilot aims to develop a fundamental understanding among financial institutions of the necessary tools and procedures for crypto compliance. This includes the implementatio...

Magic Eden, one of the leading cross-chain non-fungible token platforms, building a user-friendly platform for minting and collecting digital collectibles, continues spreading its market roots across the NFT ecosystem. In its recent advancement, the NFT Marketplace, Magic Eden, is slated to add support for Base-powered NFT collections. Magic Eden’s Base NFT Marketplace To Launch Today In an April 24 blog post, Magic Eden confirmed the ready plan to launch a new NFT market platform that will cater for traders and collectors holding Base L2 Network-powered NFT collections. The highly anticipated NFT marketplace is scheduled to launch today, April 25. In this article, we shall explore what the new marketplace entails. Tomorrow is our Base Marketplace launch but did you know there is already a vibrant and growing NFT community? Here are a few solidified projects from the Base ecosystem to check out 👇 (1/7) pic.twitter.com/t97nYHENpb — Magic Eden 🪄 (@MagicEd...

Decentralized finance (DeFi) activity on Ethereum is picking up momentum based mainly on how gas fees have been trending in the first three weeks of November, data from Kaiko  shows . Even so, despite Uniswap (UNI) spearheading the revival, looking at the gas attributed to its activities over this period, UNI prices remain stagnant below $5.6, with bulls failing to edge higher, breaking to new 2023 highs. Ethereum gas fees rising | Source: Kaiko Ethereum Gas Fees Rising, DeFi Revival? According to Kaiko, a blockchain analytics platform, the average gas fees on Ethereum hit multi-month highs last week. The platform expressly notes that the primary driver has been Uniswap’s activities, reading from the rising transaction volumes from meme coins, including GROK. This, in turn, pushed block space demand higher, increasing gas fees. Related Reading: Global Banks Are Betting Big On XRP, Report Shows Gas fees remain volatile but generally higher in the ...