Markets

Authorities in South Korea have warned local financial institutions from offering spot crypto ETFs following SEC approval in the US. South Korea’s financial regulator, the Financial Services Commission (FSC), has said that the spot Bitcoin ETFs recently approved in the US may contravene the country’s law. In an official statement published on Friday, the regulator sounded a note of warning without providing extensive details: “Domestic securities firms brokering overseas-listed Bitcoin...

BNB Chain intends to disable its atomic swap feature in April and all Bridge providers will be expected to begin informing users by February. We are in the first few weeks of 2024 and the scene is seemingly being set for the rest of the year. The industry is still on a high note from the recently- announced Bitcoin spot ETF approval but even more news is rolling in. The latest comes from BNB Chain, which recently announced the six-month roadmap for its BNB Beacon Chain Fusion. The roadmap...

Bitcoin cash started a strong increase above the $245 and $250 levels against the US Dollar. The price is now trading above the $250 zone and the 55 simple moving average (4 hours). There was a break above a key bearish trend line with resistance near $250 on the 4-hour chart of the BCH/USD pair (data feed from Coinbase). The pair must clear $285 and $290 to continue higher in the near term. Bitcoin cash price is climbing above $260 against the US Dollar, like...

It’s been an eventful week for crypto investors, given the events surrounding the SEC’s Twitter hacking and eventual approval of a spot Bitcoin ETF. The buzz around these ETFs has translated into price rises across the meme coin space, with Shiba Inu (SHIB), Dogecoin (DOGE), and Pepe (PEPE) all seeing gains. Investor demand has also ramped up for under-the-radar tokens, including Sponge V2 (SPONGEV2), which continues to attract attention ahead of its exchange listing. Meme...

Bitcoin miner outflow has reached a 77-month high despite an overall positive trend in the crypto market. According to on-chain intelligence firm CryptoQuant, the ‘Miner Outflow’ metric demonstrated the outflow of Bitcoin from mining pool wallets not seen since August 2017. The outflow metric doesn’t directly monitor funds transferred from miners’ addresses to crypto exchanges, potentially indicating sales. However, outflows provide a general indicator of sentiment, with...

Bitcoin soared past $49,000 hours ago after the first ETFs reached the US market but plummeted by over three grand in the following minutes. This resulted in a lot of pain for over-leveraged traders, as the total value of liquidated positions has soared to well over $300 million on a daily scale. January 10, 2024, will go down in history as one of the most prominent dates for the cryptocurrency industry as the US SEC finally greenlighted spot exchange-traded funds tracking...

Bitcoin (BTC) ripped to another multi-year high of $49,000 on Thursday within an hour of the first U.S. Bitcoin spot ETFs going live on public markets. Between all 11 fund providers, Bitcoin ETFs have already traded $1.7 billion in cumulative volume, based on Yahoo Finance data. According to Bloomberg ETF analyst James Seyffart, Grayscale’s Bitcoin Trust (GBTC) has led the pack in terms of volume, trading at least $446 million just 30 minutes after the market opened....

EOS price started a fresh decline after it failed to stay above $0.880 against the US Dollar. The price is now trading below $0.800 and the 55 simple moving average (4 hours). There is a key bearish trend line forming with resistance near $0.7620 on the 4-hour chart of the EOS/USD pair (data feed from Coinbase). The pair could continue to decline if it stays below the $0.7620 and $0.7800 resistance levels. EOS price is struggling below $0.800 against the US...

Litecoin is gaining pace above the $68.00 resistance against the US Dollar. LTC price is now trading above $68.80 and the 55 simple moving average (4 hours). There is a key bearish trend line forming with resistance near $71.00 on the 4-hour chart of the LTC/USD pair (data feed from Coinbase). The pair could gain bullish momentum if it clears the $71.00 and $72.00 resistance levels. Litecoin price is recovering from the $63.50 zone against the US Dollar, like...

Steve McClurg, co-founder and chief investment officer of Valkyrie Funds, has suggested the potential approval of Ethereum or XRP exchange-traded funds (ETFs) following the expected launch of spot Bitcoin ETFs in a recent Bloomberg interview. The prediction comes from the U.S. Securities and Exchange Commission (SEC), which is reportedly likely to approve Valkyrie’s Bitcoin ETF, whereby trading is anticipated to commence as early as Thursday. XRP And Ethereum Spot ETFs on the...