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Bitcoin rises to $59,000 but remains in low valuation territory
Bitcoin rises to $59,000 but remains in low valuation territory
Despite Bitcoin's recovery to $59,000, Bitfinex analysts say BTC remains in undervaluation territory.
Bitcoin is currently trading at $59,300, with a slight increase of around 4% since hitting a low of $57,000 in the past 24 hours. Bitfinex analysts predict that post-halving, Bitcoin will continue to consolidate its price position, while other cryptocurrencies are attracting interest from investors thanks to their potential. ability to bring higher returns in value.
Despite Bitcoin's recovery to $59,000, Bitfinex analysts say BTC remains in undervaluation territory.
Bitcoin is currently trading at $59,300, with a slight increase of around 4% since hitting a low of $57,000 in the past 24 hours. Bitfinex analysts predict that post-halving, Bitcoin will continue to consolidate its price position, while other cryptocurrencies are attracting interest from investors thanks to their potential. ability to bring higher returns in value.
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ETH trading at $3000 but demand on the decline
ETH trading at $3000 but demand on the decline
ETH quickly broke below support and traded as low as $2852 on May 1. Its futures open interest has decreased significantly since April 10.
Ethereum (ETH) recently crossed above the 20-day simple moving average (SMA), which could lead to a deeper decline in the short term. When the price of an asset falls below the 20-day SMA, this usually indicates that the short-term trend of that asset is bearish. Traders often see this as a sign that sellers are in control and the price could continue to fall.
ETH quickly broke below support and traded as low as $2852 on May 1. Its futures open interest has decreased significantly since April 10.
Ethereum (ETH) recently crossed above the 20-day simple moving average (SMA), which could lead to a deeper decline in the short term. When the price of an asset falls below the 20-day SMA, this usually indicates that the short-term trend of that asset is bearish. Traders often see this as a sign that sellers are in control and the price could continue to fall.
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Sold in May and gone': Seasonality of crypto asset returns
Sold in May and gone': Seasonality of crypto asset returns
Tick, tick, next block. Bitcoin works like clockwork as they say. Approximately every 10 minutes, a new block of transactions is timed to the public ledger.
Obviously, time plays an important role in Bitcoin's protocol. But what about the seasons?
Traditional finance research provides abundant evidence on the seasonality of equity returns. You may have come across terms like “January Effect” or “Shift Tuesday.”
Tick, tick, next block. Bitcoin works like clockwork as they say. Approximately every 10 minutes, a new block of transactions is timed to the public ledger.
Obviously, time plays an important role in Bitcoin's protocol. But what about the seasons?
Traditional finance research provides abundant evidence on the seasonality of equity returns. You may have come across terms like “January Effect” or “Shift Tuesday.”
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ETH ETF will not bring full profits to investors
ETH ETF will not bring full profits to investors
ETFs bring awareness but are less effective than private funds as an ETH investment vehicle.
With the recent approval, launch, and success of spot bitcoin ETFs, all eyes are on the possibility of regulatory approval of a spot ETH ETF, an outcome we believe is unlikely. could happen under the current administration. Additionally, at least initially, the ETH ETF will lack a staking reward component, an important aspect of ETH total return.
ETFs bring awareness but are less effective than private funds as an ETH investment vehicle.
With the recent approval, launch, and success of spot bitcoin ETFs, all eyes are on the possibility of regulatory approval of a spot ETH ETF, an outcome we believe is unlikely. could happen under the current administration. Additionally, at least initially, the ETH ETF will lack a staking reward component, an important aspect of ETH total return.
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Investing.com - EOS was trading at $0.7263 at 14:10 (07:10 GMT) according to the Investing.com Index on Wednesday, down 10.59% on the day. This is the strongest decrease in a day since April 13.
This bearish move pulled EOS's capitalization down to $838.5148M, equivalent to 0.04% of the total cryptocurrency market capitalization. The highest capitalization EOS has ever achieved is $17.5290B.
EOS fluctuated between $0.7242 and $0.7655 over the past 24 hours.
During the previous week, EOS fell, and fell. EOS trading volume in the 24 hours leading up to this news release was $168.8175M, equivalent to 0.19% of the total trading volume of the cryptocurrency market. EOS fluctuated between $0.7242 and $0.9596 over the previous 7 days.
Based on current prices, EOS is still down 96.84% from its all-time high of $22.98, on April 29, 2018.
Other cryptocurrencies
Bitcoin is trading at $58,517.0 according to Investing.com Index, down 7.85% on the day.
Ethereum was trading at $2,903.45 according to Investing.com Index, down 8.43%.
The capitalization of the Bitcoin cryptocurrency is recorded at $1,173.0446B, equivalent to 53.47% of the total cryptocurrency market capitalization, while the capitalization of Ethereum is $360.2811B, equivalent to 16.42% of the total cryptocurrency market capitalization.
#scamriskwarning #Web3 #SHIB #LTC #Aptos $BTC $ETH $BNB
This bearish move pulled EOS's capitalization down to $838.5148M, equivalent to 0.04% of the total cryptocurrency market capitalization. The highest capitalization EOS has ever achieved is $17.5290B.
EOS fluctuated between $0.7242 and $0.7655 over the past 24 hours.
During the previous week, EOS fell, and fell. EOS trading volume in the 24 hours leading up to this news release was $168.8175M, equivalent to 0.19% of the total trading volume of the cryptocurrency market. EOS fluctuated between $0.7242 and $0.9596 over the previous 7 days.
Based on current prices, EOS is still down 96.84% from its all-time high of $22.98, on April 29, 2018.
Other cryptocurrencies
Bitcoin is trading at $58,517.0 according to Investing.com Index, down 7.85% on the day.
Ethereum was trading at $2,903.45 according to Investing.com Index, down 8.43%.
The capitalization of the Bitcoin cryptocurrency is recorded at $1,173.0446B, equivalent to 53.47% of the total cryptocurrency market capitalization, while the capitalization of Ethereum is $360.2811B, equivalent to 16.42% of the total cryptocurrency market capitalization.
#scamriskwarning #Web3 #SHIB #LTC #Aptos $BTC $ETH $BNB
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Asia's first foray into crypto ETFs
In a notable development for crypto investing in Asia, six new bitcoin and ether spot exchange-traded funds (ETFs) saw gains in the opening session in Hong Kong today. In particular, three bitcoin ETFs were up more than 2% by midday. The event marks a major milestone as it represents Asia's first foray into spot cryptocurrency ETFs, following the United States, which introduced the first spot bitcoin ETFs three months ago. before.
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Masa's network is growing rapidly, now with more than 1.5 million users and 48,000 node operators, all backed by venture capital.
With many AI models becoming more and more similar because they are trained on similar data, the real game changer now has access to exclusive, high-quality personal data and has been verified.
#Web3 #SHIB #Aptos #ai #LTC $BTC $ETH $BNB
With many AI models becoming more and more similar because they are trained on similar data, the real game changer now has access to exclusive, high-quality personal data and has been verified.
#Web3 #SHIB #Aptos #ai #LTC $BTC $ETH $BNB
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AI Network and Masa, have signed cooperation with 13 projects to develop a series of AI applications.
The new collaboration spans multiple applications, from general social networks to AI-driven trading platforms. Notable among the partners are CharacterX, which uses user-consented social data to train AI models to create AI avatars, and ChainML, which focuses on building collaborative AI agents for web3 environment.
These initiatives leverage Masa's decentralized, user-consented data and open-source LLM network to expand its AI developer ecosystem.
Masa's approach highlights a shift towards using decentralized data sources to address data access and quality challenges that often limit traditional AI development. The company claims this model can lead to more effective and personalized AI solutions.
To support these development efforts, Masa launched Decentralized AI Developer Funding, donating $100,000 in MASA tokens to help developers in its network. The grants are intended to encourage the creation of AI projects that leverage Masa's technology platform.
The partnership and funding program is part of Masa's broader strategy to become a key player in the decentralized AI market. The company is establishing a space where developers can get their hands on unique data sets and collaborate to build AI solutions.
#Web3 #SHIB #Aptos #ai #ltc $BTC $ETH $BNB
The new collaboration spans multiple applications, from general social networks to AI-driven trading platforms. Notable among the partners are CharacterX, which uses user-consented social data to train AI models to create AI avatars, and ChainML, which focuses on building collaborative AI agents for web3 environment.
These initiatives leverage Masa's decentralized, user-consented data and open-source LLM network to expand its AI developer ecosystem.
Masa's approach highlights a shift towards using decentralized data sources to address data access and quality challenges that often limit traditional AI development. The company claims this model can lead to more effective and personalized AI solutions.
To support these development efforts, Masa launched Decentralized AI Developer Funding, donating $100,000 in MASA tokens to help developers in its network. The grants are intended to encourage the creation of AI projects that leverage Masa's technology platform.
The partnership and funding program is part of Masa's broader strategy to become a key player in the decentralized AI market. The company is establishing a space where developers can get their hands on unique data sets and collaborate to build AI solutions.
#Web3 #SHIB #Aptos #ai #ltc $BTC $ETH $BNB
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SEC hesitation in approving ether ETF
In the coming weeks, the US Securities and Exchange Commission (SEC) is expected to decide against the launch of several proposed exchange-traded funds (ETFs) tied to the spot price of ether, according to industry people.
VanEck, ARK Investment Management and seven other issuers have filed applications with the SEC to list such ETFs, with decisions on the VanEck and ARK filings due May 23 and May 24, respectively.
VanEck, ARK Investment Management and seven other issuers have filed applications with the SEC to list such ETFs, with decisions on the VanEck and ARK filings due May 23 and May 24, respectively.
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In Argentina, cryptocurrency exchanges have become influential in the currency markets, with the Tether-peso trading pair on cryptocurrency exchanges often used as a proxy for dollar exchange rates. US dollars and pesos. The broader cryptocurrency market recovered from the recession in 2022, with Bitcoin reaching a new all-time high in March, fueled by enthusiasm for capital flows into exchange-traded funds. US spot bitcoin exchange (ETF). This resurgence has also supported Tether's growth, Ardoino said.
Ardoino, who took on the CEO role in December while remaining interim chief technology officer, announced that the company is expanding its team to about 150 employees, up from 100 currently. , as it ventures into new areas such as artificial intelligence.
Tether, ranked as the third largest cryptocurrency, maintains that it preserves its dollar exchange rate by holding dollar reserves equal to the volume of the cryptocurrency it issues. The statement comes as US regulators warned banks about the possibility of rapid capital outflows from stablecoin reserves, in scenarios where token holders may seek to transfer exchange their shares back into traditional currency.
#Web3 #SHIB #Aptos #ai #LTC $BTC $ETH $BNB
Ardoino, who took on the CEO role in December while remaining interim chief technology officer, announced that the company is expanding its team to about 150 employees, up from 100 currently. , as it ventures into new areas such as artificial intelligence.
Tether, ranked as the third largest cryptocurrency, maintains that it preserves its dollar exchange rate by holding dollar reserves equal to the volume of the cryptocurrency it issues. The statement comes as US regulators warned banks about the possibility of rapid capital outflows from stablecoin reserves, in scenarios where token holders may seek to transfer exchange their shares back into traditional currency.
#Web3 #SHIB #Aptos #ai #LTC $BTC $ETH $BNB
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Ardoino pointed out that USDT usage has grown beyond cryptocurrency trading to become what he described as "the most used digital dollar in the world." He noted that nearly all of Tether's user base is located in emerging markets, including Turkey, Vietnam, Brazil, Argentina, and various African countries, where access to US dollars may be limited. In particular, Ardoino mentioned a significant increase in usage in Argentina last year.
With a global user base exceeding 300 million, Tether aims to serve as a digital dollar for those without access to banking services. However, the adoption of crypto assets such as Tether has raised concerns among regulators about potential market risks. The Bank for International Settlements, in a paper last year, warned that crypto assets could exacerbate financial risks in developing economies, despite their perceived benefits. they are a quick solution to financial challenges.
#Web3 #SHIB #Aptos #ai #LTC $BTC $ETH $BNB
With a global user base exceeding 300 million, Tether aims to serve as a digital dollar for those without access to banking services. However, the adoption of crypto assets such as Tether has raised concerns among regulators about potential market risks. The Bank for International Settlements, in a paper last year, warned that crypto assets could exacerbate financial risks in developing economies, despite their perceived benefits. they are a quick solution to financial challenges.
#Web3 #SHIB #Aptos #ai #LTC $BTC $ETH $BNB
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In a significant shift from its traditional role in cryptocurrency trading, Tether, a leading stablecoin, is increasingly being accepted as an alternative to the US dollar in emerging markets , according to the company's CEO Paolo Ardoino. Speaking at the Token2049 cryptocurrency conference in Dubai, Ardoino highlighted the growth of Tether, also known as USDT, which is pegged to maintain a value of $1. Stablecoins have seen rapid expansion, with over $100 billion in circulation as of March.
#Web3 #SHIB #Aptos #ai #LTC $BTC $ETH $BNB
#Web3 #SHIB #Aptos #ai #LTC $BTC $ETH $BNB
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Global stock markets showed signs of recovery on Monday as investors scaled back previously taken defensive positions amid concerns about a potential escalation in the Middle East. Eric Demuth, CEO of Austrian crypto broker Bitpanda, noted that Bitcoin's price movements are increasingly influenced by broader market sentiment, with no distinct pattern of retail trading activity What differences are observed around the halving event?
The similarities between cryptocurrency and stock trading behavior have been highlighted, with Demuth commenting that the same individuals who trade stocks, especially technology stocks, are also participating in the cryptocurrency market . Excitement surrounding the potential US regulatory approval of spot Bitcoin exchange-traded funds (ETFs) contributed to Bitcoin's recovery from several downturns in 2022.
A global market strategist at eToro highlights the continued shift towards the "institutionalization" of Bitcoin. Although retail investors currently dominate the Bitcoin market, the broker predicts that future regulatory changes could make Bitcoin ownership easier for companies, banks and central bank.
The total value of cryptocurrencies is estimated to be around $2.5 trillion, according to CoinGecko, a market tracker. However, regulators continue to warn that cryptocurrencies are speculative, carry high risks and have limited practical applications.
#Web3 #SHIB #ai #LTC $BTC $ETH $BNB #ai
The similarities between cryptocurrency and stock trading behavior have been highlighted, with Demuth commenting that the same individuals who trade stocks, especially technology stocks, are also participating in the cryptocurrency market . Excitement surrounding the potential US regulatory approval of spot Bitcoin exchange-traded funds (ETFs) contributed to Bitcoin's recovery from several downturns in 2022.
A global market strategist at eToro highlights the continued shift towards the "institutionalization" of Bitcoin. Although retail investors currently dominate the Bitcoin market, the broker predicts that future regulatory changes could make Bitcoin ownership easier for companies, banks and central bank.
The total value of cryptocurrencies is estimated to be around $2.5 trillion, according to CoinGecko, a market tracker. However, regulators continue to warn that cryptocurrencies are speculative, carry high risks and have limited practical applications.
#Web3 #SHIB #ai #LTC $BTC $ETH $BNB #ai
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The Bitcoin community's anticipation of the cryptocurrency's halving event, which occurs around 0014 GMT on Saturday, has not significantly affected its price, according to industry insiders on Monday.
Halving, a scheduled adjustment to Bitcoin's protocol designed to reduce the rate at which new Bitcoin is created, occurs approximately every four years. While previous instances where halvings correlated with price increases, Bitcoin's value has not shown a notable change this time, trading at $66,300 as of 1415 GMT on Monday.
The cryptocurrency had a modest 1.2% gain last week and was up 3.4% on Monday. However, it has fluctuated without clear direction since hitting a record high of $73,794 last month. Mick Roche, a senior trader at Zodia Markets, a cryptocurrency arm of Standard Chartered (OTC: SCBFF), said that current geopolitical events, such as easing tensions between Iran and Israel , is having a more pronounced impact on Bitcoin price than the halving.
#Web3 #SHIB #Aptos #ai #LTC $BTC $ETH $BNB
Halving, a scheduled adjustment to Bitcoin's protocol designed to reduce the rate at which new Bitcoin is created, occurs approximately every four years. While previous instances where halvings correlated with price increases, Bitcoin's value has not shown a notable change this time, trading at $66,300 as of 1415 GMT on Monday.
The cryptocurrency had a modest 1.2% gain last week and was up 3.4% on Monday. However, it has fluctuated without clear direction since hitting a record high of $73,794 last month. Mick Roche, a senior trader at Zodia Markets, a cryptocurrency arm of Standard Chartered (OTC: SCBFF), said that current geopolitical events, such as easing tensions between Iran and Israel , is having a more pronounced impact on Bitcoin price than the halving.
#Web3 #SHIB #Aptos #ai #LTC $BTC $ETH $BNB
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Venezuela is accelerating its transition to digital currency
Venezuela's state oil company PDVSA is accelerating its transition to using digital currency for crude oil and fuel exports in response to the US re-imposition of oil sanctions.
The recent decision by the US Treasury Department not to renew the general license for transactions with PDVSA, citing a lack of election reform, has led the company to accelerate its move to digital currencies such as USDT, also known as Tether. This strategy is intended to minimize the risk of Venezuelan sales proceeds being frozen in foreign bank accounts due to sanctions.
The recent decision by the US Treasury Department not to renew the general license for transactions with PDVSA, citing a lack of election reform, has led the company to accelerate its move to digital currencies such as USDT, also known as Tether. This strategy is intended to minimize the risk of Venezuelan sales proceeds being frozen in foreign bank accounts due to sanctions.
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Bitcoin price stability
Investing.com - Bitcoin prices tumbled on Tuesday as the halving event passed with little price movement, while capital outflows from investment products continued amid uncertainty over higher interest rates for a longer period of time.
Although the launch of a new protocol on the Bitcoin blockchain prompted an increase in on-chain activity, the move provided little support for the token's price. The launch also largely overshadowed the halving event.
Although the launch of a new protocol on the Bitcoin blockchain prompted an increase in on-chain activity, the move provided little support for the token's price. The launch also largely overshadowed the halving event.
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Bitcoin has extended its record price in 2024
Bitcoin extended its record price run into 2024, fueled by the halving that halved the top cryptocurrency's issuance over the weekend, along with the Commission's approval of a spot bitcoin ETF Securities Trading (US SEC, CVM). While bitcoin prices are currently tied to the global liquidity situation as determined by US interest rates, the approval of a spot ETF marks an important milestone in the recognition of bitcoin as a treasury. store value.
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With a global user base exceeding 300 million, Tether aims to serve as a digital dollar for those without access to banking services. However, the adoption of crypto assets such as Tether has raised concerns among regulators about potential market risks. The Bank for International Settlements, in a paper last year, warned that crypto assets could exacerbate financial risks in developing economies, despite their perceived benefits. they are a quick solution to financial challenges.
In Argentina, cryptocurrency exchanges have become influential in the currency markets, with the Tether-peso trading pair on cryptocurrency exchanges often used as a proxy for dollar exchange rates. US dollars and pesos. The broader cryptocurrency market recovered from the recession in 2022, with Bitcoin reaching a new all-time high in March, fueled by enthusiasm for capital flows into exchange-traded funds. US spot bitcoin exchange (ETF). This resurgence has also supported Tether's growth, Ardoino said.
Ardoino, who took on the CEO role in December while remaining interim chief technology officer, announced that the company is expanding its team to about 150 employees, up from 100 currently. , as it ventures into new areas such as artificial intelligence.
$BTC $ETH $BNB #Web3 #SHIB #ai #LTC
In Argentina, cryptocurrency exchanges have become influential in the currency markets, with the Tether-peso trading pair on cryptocurrency exchanges often used as a proxy for dollar exchange rates. US dollars and pesos. The broader cryptocurrency market recovered from the recession in 2022, with Bitcoin reaching a new all-time high in March, fueled by enthusiasm for capital flows into exchange-traded funds. US spot bitcoin exchange (ETF). This resurgence has also supported Tether's growth, Ardoino said.
Ardoino, who took on the CEO role in December while remaining interim chief technology officer, announced that the company is expanding its team to about 150 employees, up from 100 currently. , as it ventures into new areas such as artificial intelligence.
$BTC $ETH $BNB #Web3 #SHIB #ai #LTC
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In a significant shift from its traditional role in cryptocurrency trading, Tether, a leading stablecoin, is increasingly being accepted as an alternative to the US dollar in emerging markets , according to the company's CEO Paolo Ardoino. Speaking at the Token2049 cryptocurrency conference in Dubai, Ardoino highlighted the growth of Tether, also known as USDT, which is pegged to maintain a value of $1. Stablecoins have seen rapid expansion, with over $100 billion in circulation as of March.
Ardoino pointed out that USDT usage has grown beyond cryptocurrency trading to become what he described as "the most used digital dollar in the world." He noted that nearly all of Tether's user base is located in emerging markets, including Turkey, Vietnam, Brazil, Argentina, and various African countries, where access to US dollars may be limited. In particular, Ardoino mentioned a significant increase in usage in Argentina last year.
$BTC $ETH $BNB #Web3 #SHIB #ai #LTC #Aptos
Ardoino pointed out that USDT usage has grown beyond cryptocurrency trading to become what he described as "the most used digital dollar in the world." He noted that nearly all of Tether's user base is located in emerging markets, including Turkey, Vietnam, Brazil, Argentina, and various African countries, where access to US dollars may be limited. In particular, Ardoino mentioned a significant increase in usage in Argentina last year.
$BTC $ETH $BNB #Web3 #SHIB #ai #LTC #Aptos
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On Thursday, U.S. exchange-traded funds that track Bitcoin prices in real time reported their fifth consecutive day of net outflows. This withdrawal period ties the record for the longest such string of incidents.
Analysts at JPMorgan calculated that these funds faced about $4 million in redemptions that day.
“The total value of shares sold, excluding Grayscale Bitcoin Trust (GBTC) shares, reached $86 million,” analysts wrote in a report.
Meanwhile, inflows into BlackRock's Bitcoin-focused fund, IBIT, remained low, totaling $19 million, unchanged from the previous day. The largest number of shares sold came from Fidelity's Bitcoin fund, FBTC, totaling $38 million. In contrast, Grayscale Bitcoin Trust (GBTC) saw buybacks amounting to -$90 million,” they continued.
Increased outflows from the Bitcoin ETF ahead of the expected Bitcoin halving event, which is forecast to occur later today on Friday, April 19. This event will halve the number of new Bitcoins created each day, from 900 to 450.
"While we do not anticipate a direct impact on ETF trading or the structure of these financial instruments, past Bitcoin halving events have typically resulted in an increase in Bitcoin price," the authors said. JPMorgan analysis commented.
According to analysts, Riot Platforms (NASDAQ:RIOT) and CleanSpark (NASDAQ:CLSK) are companies whose stocks are likely to gain from Bitcoin's post-halving price increase, while Cipher Mining (NASDAQ: CIFR) may not benefit much.
$BTC $ETH $BNB
Analysts at JPMorgan calculated that these funds faced about $4 million in redemptions that day.
“The total value of shares sold, excluding Grayscale Bitcoin Trust (GBTC) shares, reached $86 million,” analysts wrote in a report.
Meanwhile, inflows into BlackRock's Bitcoin-focused fund, IBIT, remained low, totaling $19 million, unchanged from the previous day. The largest number of shares sold came from Fidelity's Bitcoin fund, FBTC, totaling $38 million. In contrast, Grayscale Bitcoin Trust (GBTC) saw buybacks amounting to -$90 million,” they continued.
Increased outflows from the Bitcoin ETF ahead of the expected Bitcoin halving event, which is forecast to occur later today on Friday, April 19. This event will halve the number of new Bitcoins created each day, from 900 to 450.
"While we do not anticipate a direct impact on ETF trading or the structure of these financial instruments, past Bitcoin halving events have typically resulted in an increase in Bitcoin price," the authors said. JPMorgan analysis commented.
According to analysts, Riot Platforms (NASDAQ:RIOT) and CleanSpark (NASDAQ:CLSK) are companies whose stocks are likely to gain from Bitcoin's post-halving price increase, while Cipher Mining (NASDAQ: CIFR) may not benefit much.
$BTC $ETH $BNB
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