A wealthy investor has started buying large amounts of a cryptocurrency similar to Dogecoin from the popular US crypto exchange Coinbase. Details of the Purchase According to data from the digital asset tracker Lookonchain, the investor spent $606,000 to buy almost 228,000 units of the memecoin dogwifhat (WIF). Other Whale Activity Lookonchain also reported that…
Macro strategist Jim Bianco has revealed that retail investors hold a staggering 85% of shares in spot Bitcoin exchange-traded funds (ETFs) as of the first quarter of 2024. Breaking Down Investor Types According to Bianco’s analysis of mandatory 13F filings with the SEC, investment advisors hold only a small portion of these ETFs, ranging from…
A renowned crypto strategist has predicted the timeline for Bitcoin’s next major upswing. Post-Halving Accumulation The analyst, known as Rekt Capital, suggests that Bitcoin is currently in a post-halving reaccumulation phase. Historically, this phase has lasted around 160 days before a significant upward move. Bullish Breakout Rekt Capital notes that Bitcoin has broken out of…
The potential approval of a Spot Ethereum ETF has sparked excitement in the crypto community. Now, experts are suggesting that Solana (SOL) could be the next cryptocurrency in line for ETF consideration. Is Solana the Next Candidate? Daniel Yan, co-founder of Matrixport, believes that Solana is a strong candidate for an ETF due to its…
Profitability Skyrockets After a recent price spike, data reveals that a whopping 90% of Ethereum investors are now in the green. This means they bought their ETH at a lower price than it’s currently worth. Breakdown of Profitability 90% of investors: In profit 0% of investors: In loss 10% of investors: Break-even Potential Impact Historically,…
Centralization Allegations Justin Bons, founder of Cyber Capital, has raised concerns about Cardano’s centralization. He claims that the blockchain has “Genesis Keys” that give a small group significant control over the network. IOG’s Control Bons alleges that Input Output Global (IOG), the company behind Cardano, holds five of the seven Genesis Keys. This gives IOG…
Lack of Clarity Hinders Innovation Cryptocurrency expert Adam Cochran has criticized SEC Chairman Gary Gensler for the ongoing lack of clarity regarding Ethereum’s regulatory status. Cochran believes the SEC’s ambiguous stance is stifling innovation and creating uncertainty in the crypto market. Need for Gensler to Address Ethereum’s Legal Status Cochran urges Gensler to clarify in…
SEC’s Potential Approval of Spot Ethereum ETFs Ethereum’s price has skyrocketed 20% in the past day due to the potential approval of Spot Ethereum ETFs by the Securities and Exchange Commission (SEC). Bloomberg analysts Eric Balchunas and James Seyffart have raised their odds of approval to 75%. Whale Activity Ethereum whales have also contributed to…
After rumors of a renewed chance of approval for Ethereum exchange-traded funds (ETFs), traders on Binance have been aggressively buying Ethereum. Surge in Long Positions The Ethereum Net Taker Volume on Binance, which measures the difference between buy and sell volumes, has spiked to its highest level ever. This indicates that more traders are buying…
Liquidation Frenzy Over the past 24 hours, the crypto market has seen a massive wave of liquidations, with over $330 million wiped out. Short traders, who bet on prices falling, bore the brunt of the losses, accounting for 81% of the total. Ethereum Outshines Bitcoin Unlike previous liquidations, Bitcoin took a backseat this time, with…
