Looking to strengthen its market share in the Asia region, Wintermute will become a liquidity provider to the recently launched Hong Kong-listed spot bitcoin and ether exchange-traded funds.> Open article in new tab
The crypto market is currently buzzing with anticipation as Bitcoin options traders position themselves for what they foresee as a “substantial price rally” in September. Particularly, the derivatives market is expressing confidence, with a significant number of traders betting on Bitcoin surpassing the $100,000 mark. Related Reading: Bitcoin’s Make-Or-Break Moment: Trading Guru Predicts Rally Amid Market Uncertainty Bitcoin Market Optimism Amidst Whale Movements Recent analysis from industry experts highlights a significant trend in Bitcoin options that points to growing optimism among traders. According to insights from QCP Capital, a noticeable shift has occurred in the risk reversals landscape, with calls (options to buy) now priced higher than puts (options to sell). QCP Capital noted that this change underscores a “stronger demand” for potential price increases rather than hedges against declines. The preference for call options, particularly those pegged at ambitious strike prices of $75,000 and $100,000 for September, underscores the…> Open article in new tab
Fantom (FTM), a Layer-1 (L1) protocol, and its native token, FTM, have experienced significant gains and notable achievements in the first quarter (Q1) of 2024. According to a comprehensive performance analysis conducted by Messari, amid the emerging crypto bull market, Fantom has emerged as one of the major beneficiaries, showing significant growth in key metrics and market capitalization. FTM Market Cap Soars 101% QoQ By the numbers, FTM’s circulating market capitalization saw a substantial 101% quarter-over-quarter (QoQ) increase, jumping from $1.3 billion to $2.6 billion, vaulting it up ten spots to 48th among all tokens (currently 58th). The token’s rally extended for two consecutive quarters, resulting in a fourfold increase since the end of Q3 2023. Related Reading: Here’s How This Ethereum Whale Made $16 Million From A Single Trade Although Fantom experienced a decrease of 53% QoQ in revenue measured in FTM, amounting to 1.8 million FTM, revenue denominated…> Open article in new tab
So far, Dogecoin has emerged as a significant player among the largest altcoins, exhibiting signs of a strong comeback, particularly highlighted by the recent profitability of numerous wallet addresses. A Surge In Dogecoin Profitable Addresses Recent data from IntoTheBlock reveals a notable uptick in the profitability of Dogecoin addresses. Of the myriad wallets in the Dogecoin ecosystem, roughly 82.66%, representing approximately 5.21 million addresses, are currently profitable. Related Reading: Dogecoin Breaks Out Of Descending Triangle Like It Did In 2021, Analyst Sets $6 Target According to data from IntoTheBlock, the profitability price range remains between $0.143 and $0.150. Conversely, a smaller segment of the network, about 13.5% or 850,400 addresses, remains in the red. These addresses are positioned to turn profitable if Dogecoin’s market price is between $0.183 and $0.671. An intriguing midpoint exists where approximately 3.83% of addresses, totaling 241,340, will break even if prices reach between $0.150 and…> Open article in new tab
Excluding Bitcoin, memecoins were the biggest narrative of this cycle. However, Artificial Intelligence (AI) tokens also performed remarkably during the first quarter of 2024. The crypto market recovered over the weekend from the May 1st retrace, with AI tokens showing significant gains. As a result, many industry experts think that the sector is poised for a ‘Round 2’ this cycle. Related Reading: Analysts Foresee Altcoins ‘Explosive Rally’ Incoming, Is The Correction Phase Over? AI Sector Recovers By 8% Crypto analysts highlighted AI tokens alongside memecoins as the hottest topic of 2024, responsible for most of the massive gains during this cycle. According to CoinGecko’s report, AI was one of the three sectors that delivered three-digit returns in Q1. Moreover, the largest AI token by market capitalization, Fetch.ai (FET), saw gains of 378.3% during this period. As a result, some analysts deem the AI sector to be the next main narrative…> Open article in new tab
Ethereum has put on a disappointing performance for its investors over the last few weeks, leading to concerns on whether the second-largest cryptocurrency by market cap has lost its shine. The cryptocurrency continues to skirt around the $3,100 level, not making any significant breaks upward. This points to weak fundamentals that could trigger a price decline. Ethereum Fails To Make Meaningful Moves Markus Thielen, Head of Research at 10x Research, has pointed out some worrying developments with the Ethereum price. In a new report shared with NewsBTC, he explains that despite Ethereum remaining highly correlated to Bitcoin with an R-Square of 95%, it continues to perform poorly while the latter has made new all-time highs. Related Reading: Here’s Why This Crypto Analyst Believes Bitcoin Is At A ‘Prime Buy Zone’ Thielen points back to ETH’s performance in the last bull market, which was closely tied to new sectors popping out…> Open article in new tab
Catching up on the biggest news from the real-world asset space.> Open article in new tab
The Polkadot community has approved a proposal to sponsor Inter Miami, the football club co-owned by David Beckham and featuring superstar Lionel Messi. The move could be a strategic decision to propel Polkadot, a smart contracts platform similar to Ethereum, into the global spotlight. Polkadot To Sponsor Inter Miami The proposal, approved by Polkadot’s Open Gov community, sought 968,000 DOT (roughly $6.5 million) to secure the sponsorship. Under the “sports sponsorship fund,” the goal was to partner with Inter Miami, a team described as one of the “world’s most engaging and followed sports teams.” Related Reading: Cardano (ADA) Trading Activity Goes Quiet: Will This Drag Down The Price? While the goal is to “elevate” Polkadot’s global brand visibility, the plan is to develop other deeper integration, leveraging Inter Miami’s global fanbase. For instance, the team plans to enhance user experience through engaging non-fungible tokens (NFTs) and other gamified experiences deployed on…> Open article in new tab
The cryptocurrency market has recently exhibited distinct divergences in the behavior of its two leading assets, Bitcoin and Ethereum. While Bitcoin appears to be stepping into a phase of relative stability, Ethereum’s journey paints a contrasting picture of sustained uncertainty, particularly in its options market. This divergence is highlighted by the sustained high levels of implied volatility associated with Ethereum options, signaling a cautious outlook among investors regarding its future price movements. Related Reading: Ethereum Burn Rate Hits Yearly Low: What This Means For ETH’s Future Ethereum Persisting Volatility: A Comparative Analysis Implied volatility (IV) serves as a crucial indicator in the options market, providing insights into the expected price fluctuations of an asset over a specific period. It reflects the market’s temperature, gauging the intensity of potential price movements traders anticipate. Recent analyses suggest that while Bitcoin’s implied volatility has settled down significantly post-halving, Ethereum’s has not followed suit.…> Open article in new tab
Mike McGlone, Senior commodity strategist at Bloomberg Intelligence, has made a rather pessimistic prediction for Bitcoin, emphasizing that the cryptocurrency’s potential rise to $150,00 was a long shot. The strategist has revealed factors that could make Bitcoin’s projected surge to $150,000 difficult, highlighting both macroeconomic trends and Bitcoin’s performance in 2024. Bitcoin Surge To $150,000 Unlikely In a recent interview with Scott Melker, the host of “The Wolf Of All Streets,” podcast, McGlone discussed Bitcoin’s price fundamentals and its possible rise to $150,000 in the 2024 bull cycle. Related Reading: Crypto Whale Spends $10.4 Million On PEPE, Do They Know Something You Don’t? Comparing Bitcoin with the stock market index, the S&P 500, the Bloomberg strategist disclosed that the cryptocurrency was currently showing “divergent weakness,” highlighting that Bitcoin’s performance against the S&P 500 in 2021 was greater compared to 2024. He also revealed that Bitcoin was displaying a similar weak…> Open article in new tab
The NBA’s Victor Oladipo and racecar driver Landon Cassill also struck deals, and a group of Voyager investors said this was the “first tranche” of settlements with promoters of the former cryptocurrency lender.> Open article in new tab
Several Democrats on the House Financial Services Committee have a bill coming this week to target money laundering through cryptocurrency mixing services, said Rep. Sean Casten (D-Ill.), one of its backers.> Open article in new tab
You would think the government would be against an online privacy service facilitating money laundering. But it actually created one of the best, says attorney Alexandra Damsker.> Open article in new tab
In an ever-evolving world of cryptocurrency markets, deciding the bottom of Bitcoin price correction is an endeavor that attracts interest from both investors and analysts. Joining the fray is cryptocurrency analyst and trader MilkyBull offering insights on the subject, claiming that Bitcoin’s local bottom has developed due to a certain development. Following its weekend recovery out of bear market territory, the price of Bitcoin slightly decreased on Monday. However, MilkyBull is confident that the recent retracement might be the last before BTC turns to move on the upside. Bitcoin Local Bottom Is In According to the expert, given that the next liquidity grab interest is above $64,557, the local bottom for Bitcoin is in. As a result, before moving on to the current all-time high of $73,000, BTC will first clear the $67,000 price level and consolidate. Thus, Bitcoin may eliminate the CME gap below either prior to or subsequent…> Open article in new tab
U.S. authorities have identified Russian national Dmitry Khoroshev as the mastermind behind the notorious LockBit ransomware gang, and are offering a $10 million reward for information that leads to his arrest.> Open article in new tab
“As an environmental lawyer, scion of a Democratic political dynasty, and now maverick presidential candidate, Kennedy will explain his support for cryptocurrency and self-custody,” according to a statement.> Open article in new tab
Ethena’s USDe tokenized yield strategy has attracted over $2 billion in deposits and some scrutiny of the token’s risks.> Open article in new tab
On-chain data shows PEPE whales have moved large amounts of the memecoin during the past day. Here’s where these tokens have been heading. PEPE Whales Have Been Active On The Network Today According to data from the cryptocurrency transaction tracker service Whale Alert, two large PEPE transactions have occurred in the space of a few hours during the past day. Both of these moves are of a scale that’s typically associated to the whales, humongous entities that can carry some influence in the market thanks to their ability to make such large transfers. Related Reading: Bitcoin To Reach Escape Velocity? Analyst Makes The Case Because of their position on the network, their moves can be worth watching, as they may end up reflecting on the price of the cryptocurrency. As for how exactly the asset may be impacted by the transfers of these investors can come down to what they…> Open article in new tab
The protocol’s’s pseudonymous founder Rooter previously has been critical of “predatory” points programs.> Open article in new tab
The New York-based firm built Spiderchain to be compatible with Ethereum Virtual Machine (EVM) layers.> Open article in new tab
A Trump election win could be positive for crypto as his administration would likely push for a more supportive regulatory environment, the report said.> Open article in new tab
The latest price moves in bitcoin (BTC) and crypto markets in context for May 7, 2024. First Mover is CoinDesk’s daily newsletter that contextualizes the latest actions in the crypto markets.> Open article in new tab
As U.S. politicians continue to wrestle with how to approach crypto issues, about 21% of voters in vital swing states consider cryptocurrency policies as a topic important enough to sway their support, according to a Harris Poll survey commissioned by the industry, though it leaves some uncertainty about what the voters may end up clamoring for.> Open article in new tab
QCP said in April it was setting up shop in Abu Dhabi in collaboration with Further Ventures> Open article in new tab
As it gears up for its token launch, Galaxis, a Singapore-based Web3 platform, has raised $10 million with participation from Chainlink, Ethereum Name Services (ENS), Rarestone Capital, Taisu Ventures and ENS co-founder Nick Johnson, it announced Tuesday.> Open article in new tab
“We are in an AI super cycle right now,” one market observer said.> Open article in new tab
The syndicate had been operating for six months before being apprehended last week.> Open article in new tab
The platform being issued a Wells Notice by the SEC is surprising given the company’s conservative approach to digital assets listings, the report said.> Open article in new tab
The executive’s detention sets a “a dangerous new precedent,” Teng wrote in a blog post.> Open article in new tab
The Australian Taxation Office (ATO) has asked cryptocurrency exchanges to provide the personal data and transaction details of up to 1.2 million accounts, according to reports.> Open article in new tab
The number of active bitcoin call contracts is significantly higher than puts, indicating bullish market sentiment.> Open article in new tab
London-based Revolut, which has more than 40 million customers worldwide, has developed Revolut X to compete with leading crypto exchanges.> Open article in new tab
A hacker that stole $125 million from Poloniex’s hot wallets has sent 1,100 ether {{ETH}} to sanctioned coin mixer Tornado Cash, according to blockchain data.> Open article in new tab
EIP-3074 has drawn both support and concern from the Ethereum community, a code change that is supposed to improve the user experience with wallets on the blockchain.> Open article in new tab
Despite the recent bounce, the correction isn’t over, said one technical analyst, expecting bitcoin to fall to the low-mid $50,000 area before rallying to new all-time highs.> Open article in new tab
Bitcoin has significant upside potential this month thanks to two big catalysts and Michael Saylor’s MicroStrategy (MSTR) stock could surge, too, on its way toward getting “meaningfully higher” by the end of the year, TD Cowen analyst Lance Vitanza said in a note Monday.> Open article in new tab
Robinhood apparently made strenuous efforts to comply with the agency, even applying to become a special purpose crypto broker-dealer. The SEC is likely to sue for alleged securities violations in any case.> Open article in new tab
The CEO of the Foresight Institute, a speaker at Consensus 2024, says there are three key areas where cryptographic technologies can improve artificial intelligence systems.> Open article in new tab
Former Twitter CEO turned crypto entrepreneur Jack Dorsey is no longer a board member at BlueSky, the social network startup that he started backing in 2019 in an effort to decentralize social media.> Open article in new tab
Alethea CEO Arif Khan, a speaker on the AI Stage at Consensus 2024, says we’ll soon be automating daily tasks like paying bills and responding to emails.> Open article in new tab
It’s the first step on a more ambitious roadmap to transform how Ethereum’s biggest wallet works under the hood.> Open article in new tab
The trading platform previously ended support for all tokens that were named in SEC lawsuits against Binance and Coinbase.> Open article in new tab
Justine Bone, a cybersecurity firebrand whose research led to recalls of half a million faulty pacemakers, leads the new information-sharing and analysis center for crypto firms.> Open article in new tab
Also: Trump faces likely conviction, per Polymarket punters; CFTC hearing to discuss political betting ban.> Open article in new tab
The latest price moves in bitcoin (BTC) and crypto markets in context for May 6, 2024. First Mover is CoinDesk’s daily newsletter that contextualizes the latest actions in the crypto markets.> Open article in new tab
An Australian Federal Court mostly ruled in favor of Australia’s markets regulator in its case against BPS Financial Pty Ltd (BPS) over its Qoin scheme, on Friday.> Open article in new tab
Less than 10% of stablecoin transaction volumes are organic or come from real people, according to new findings by Visa and data platform Allium Labs, Bloomberg reported.> Open article in new tab
GBTC, the biggest spot bitcoin ETF, has seen its assets under management lead over BlackRock’s IBIT shrink.> Open article in new tab
Daniel Schatt, a Cred co-founder and former CEO, Joseph Podulka, former CFO, and James Alexander, the former chief capital officer, were indicted by the U.S. Attorney’s Office in the Northern District of California.> Open article in new tab
Alexander Vinnick, the Russian national who was one of BTC-e’s operators, pled guilty to conspiracy to commit money laundering for his role with the crypto exchange.> Open article in new tab
MoonPay co-founder and CEO Ivan Soto-Wright joins CDTV’s “First Mover” to discuss MoonPay’s recent partnership with PayPal.> Open article in new tab
We have a world currency already: it’s the dollar. Do we want to keep it that way?> Open article in new tab
Bitcoin will likely trade in a range between $60,000 and $70,000 through the next few months, the former BitMEX CEO said.> Open article in new tab
All but four cryptos in the CoinDesk 20 posted losses over the last week, led by declines in NEAR, BCH, and DOGE.> Open article in new tab
Both equities and gold have been trading lower since reaching highs in mid-April, the report said.> Open article in new tab
A cryptocurrency user has lost $68 million worth of wrapped bitcoin (WBTC) after falling victim to an “address poisoning” exploit, according to blockchain security firm CertiK.> Open article in new tab