Markets

Venezuela’s state-owned oil and gas company PDVSA is reportedly planning to speed up its use of crypto, particularly USDT, the largest stablecoin by market capitalization, to circumvent US sanctions. The Venezuelan oil company gradually started integrating USDT for oil sales in 2023, and reportedly has a new policy in place mandating new customers to have a digital wallet holding cryptocurrency. Venezuela Turning to USDT for Oil Exports According to Reuters, PDVSA’s intention...

While bitcoin’s performance over the last couple of years has been nothing short of spectacular, the latest analysis suggests that the world’s largest cryptocurrency has failed to attract safe-haven flows. This was evident in the case of an increased demand for such assets following the escalating conflict in the Middle East, according to Kaiko. Bitcoin Struggles to Capture Safe-Haven Status While gold and the US dollar have rallied, bitcoin’s value dropped by 6% in April....

TL;DR The number of XRP wallets holding at least 1 million tokens is nearing an all-time high, reflecting increased investor interest despite recent value fluctuations. Ripple’s final trial phase with the SEC and the Bitcoin halving are anticipated to significantly influence the asset’s price movement. XRP Investors on the Move Over the past several months, the price of Ripple’s XRP has been far from its glory days, hovering in the $0.45-$0.70 range. However, many investors...

CoinspeakerBinance Rolls Out Copy Trading for Spot Crypto Contracts  Binance said it now allows users to take up dual roles on the platform. Users can register for both lead and copy trading. Binance Rolls Out Copy Trading for Spot Crypto Contracts 

According to many experts, the crypto market is about to witness a surge in activities and investors. The aftermath of the bitcoin halving will be interesting, and investors will be there for it. Before the Bitcoin halving, there was much speculation about the fate of altcoins after the halving, knowing how much the Bitcoin price controls the crypto market dynamics. All that uncertainty and speculation has been put to bed now. Gradually, altcoins are beginning to...

CoinspeakerWhales Accumulating Ethereum and XRP amid Market Fluctuations: What’s Next for These Assets? A breakout from the tight upper Bollinger Bands at $0.69 could signal a bullish run for XRP. Whales Accumulating Ethereum and XRP amid Market Fluctuations: What’s Next for These Assets?

ADA price is attempting a fresh increase from the $0.4050 zone against the US Dollar. The price is now trading above $0.500 and the 55 simple moving average (4 hours). There was a break above a major bearish trend line with resistance at $0.500 on the 4-hour chart (data feed via Coinbase). The price could gain bullish momentum if it clears the $0.5150 and $0.540 levels. Cardano price is holding the $0.480 support against the US Dollar, like Bitcoin. ADA price...

Ethereum price is eyeing an upside break above the $3,220 resistance against the US Dollar. ETH price is now trading above $3,100 and the 55 simple moving average (4 hours). There was a break above a key bearish trend line with resistance near $3,150 on the 4-hour chart (data feed from Coinbase). The pair could climb further if it stays above the $3,000 support zone. Ethereum price is consolidating above the $3,100 level against the US Dollar. ETH/USD could rise...

The world’s largest asset manager is aiming to retain its position as leader of the spot Bitcoin ETF market following a massive exodus of capital from its flagship GBTC product. In order to do this, Grayscale has applied for a smaller Bitcoin ETF with highly competitive fees to compete with its ten rivals. According to its latest filing with the US Securities and Exchange Commission, Grayscale’s new ETF, the Bitcoin Mini Trust, has set fees at just 0.15%. Grayscale Mini-BTC...

The New York Stock Exchange (NYSE) has released a survey questioning market participants about round-the-clock stock trading, signaling potential interest in opening its trading venue beyond traditional market hours. The update would bring the stock exchange up to date with today’s major cryptocurrency exchanges, which operate at all hours including weekends. All Hours Stock Trading On NYSE According to the Financial Times, NYSE’s survey asked participants whether all-hours...