Ethereum (ETH) has seen a sharp rise in value after Bloomberg analysts significantly increased their expectations for the approval of an Ethereum exchange-traded fund (ETF) by the U.S. Securities and Exchange Commission (SEC). Increased Odds Eric Balchunas and James Seyffart, Bloomberg analysts, have raised their estimate of a spot Ethereum ETF approval from 25% to…
A renowned crypto strategist, Altcoin Sherpa, predicts significant growth for several altcoins, including: Fantom (FTM) Sherpa expects FTM to reach $1 before any significant correction. He believes it could rise even higher in the next six months due to upcoming upgrades. Chainlink (LINK) Sherpa anticipates a breakout rally for LINK if it surpasses $16. However,…
Largest Crypto Settlement in State History New York State Attorney General Letitia James has reached a $2 billion settlement with Genesis Global, a major player in the cryptocurrency industry. The settlement aims to compensate investors who lost money in the collapse of Gemini Earn, a lending program offered by Gemini, a cryptocurrency exchange. Background Last…
Arrest and Charges Canadian authorities have arrested 25-year-old Aiden Pleterski for allegedly running a cryptocurrency Ponzi scheme that defrauded investors of over $30 million. Pleterski, known as the “Crypto King,” is facing charges of fraud and money laundering. Investigation and Evidence An 18-month investigation by Ontario police revealed that Pleterski promised investors high profits and…
The Ponzi Scheme In 2021, Finiko, a supposed crypto investment fund, came under investigation for fraud. The investigation revealed that Finiko was a Ponzi scheme that lured investors with promises of high returns in cryptocurrencies like Bitcoin. The Mastermind and the Scheme Kirill Doronin, the mastermind behind Finiko, traveled around Russia hosting events to attract…
Exchange Reserves Hit Record Lows Bitcoin (BTC) exchange reserves have plummeted to an all-time low of less than $2 million. This signals that a major price rally could be on the horizon. Analysts Optimistic Thomas Fahrer, co-founder of Apollo, believes that the low exchange reserves indicate a potential “parabolic price surge” driven by increased demand…
Futures Market Data The Bitcoin futures market doesn’t show signs of overheating yet. The funding rate, which indicates the sentiment of derivatives traders, has stabilized at a relatively low level. Historical Context Historically, a high funding rate has been a bearish sign for Bitcoin. It suggests that the majority of traders are bullish, which often…
Shiba Inu and Dogecoin have been popular investments leading up to the bull market. However, recent market downturns have affected their prices and investor sentiment. Sentiment Drops to Neutral The Fear & Greed Index measures investor sentiment towards crypto assets. It ranges from Extreme Fear (1-25) to Extreme Greed (76-100). Currently, both Dogecoin and Shiba…
A crypto expert, Inmortal, believes it’s time for Ethereum (ETH) to take the spotlight and predicts a significant rally. He anticipates an initial target of $4,000, supported by a chart indicating ETH’s stability at around $2,800. Solana’s Potential Inmortal also has his eyes on Ethereum’s rival, Solana (SOL). He observes that SOL has mirrored Ethereum’s…
Accumulation Surge Since the launch of Bitcoin (BTC) exchange-traded funds (ETFs) in January, whales have snapped up a staggering $16.8 billion worth of BTC. This surge in accumulation signals the arrival of institutional investors into the crypto market. Whales Return The amount of BTC held by whales has recovered to pre-FTX collapse levels. However, traditional…
