Ethereum News by Thebittimes.Com

MilkyWay secures $5M funding led by Binance Labs and Polychain Capital. MilkyWay boasts 156,000+ milkTIA holders and integrates with 10+ DeFi protocols. Binance co-founder emphasizes support for MilkyWay’s growth in the Celestia ecosystem. MilkyWay, a liquid staking protocol operating within Celestia’s ecosystem, has achieved a significant milestone after successfully raising $5 million in its just concluded seed funding round. The seed funding round was backed by notable investors like Binance Labs and Polychain Capital marking a pivotal moment in MilkyWay’s journey towards enhancing liquidity and utility for Celestia (TIA) token holders. MilkyWay’s rise to prominence MilkyWay, spearheaded by a team of seasoned engineers from various renowned projects, has swiftly emerged as a frontrunner in the liquid staking arena. MilkyWay’s primary objective is to augment liquidity, composability, and utility for TIA token holders...

At the BRICS summit last year, discussions shifted from the anticipated launch of a unified digital currency to the utilization of local currencies for cross-border payments. Since then, BRICS has grown from five to ten member states, with Russia taking the lead as the current chair of the organization. Despite this expansion, Russia’s stance on a common digital currency remains uncertain. Last week, Deputy Foreign Minister Sergei Ryabkov indicated that while a common currency is not a priority, the possibility of rapid development exists, suggesting that a solution could emerge in under a year. Evaluating Russia’s Position on a Unified Digital Currency for BRICS Nations In discussions following the BRICS meetings in February of this year, Russia highlighted the BRICS Bridge, a platform aimed at facilitating payments without explicitly referencing a digital currency. This contrasts with the efforts of two other BRICS members, China and the UAE, who are engaged in the mBrid...

The highly anticipated Hong Kong Spot Bitcoin ETF has officially begun trading, marking a significant milestone in the region’s financial evolution. With its launch on April 30th, the investment vehicle not only garners local attention but also holds implications for the broader cryptocurrency sector, particularly in mainland China. JUST IN: Hong Kong spot #Bitcoin and Ethereum ETF trading officially live. — Watcher.Guru (@WatcherGuru) April 30, 2024 Anticipation Fulfilled: Trading Begins In the wake of the United States’ inaugural Spot Bitcoin ETFs earlier in the year, Hong Kong’s move amplifies the global momentum behind digital assets. The approval of the product, granted earlier this month , signifies a pivotal shift in the region’s regulatory landscape, opening doors for significant asset managers to offer these ETFs. Among them are prominent names like China Asset Management , Harvest Global Investments , Bosera Internationa...

Ethereum, the world’s second-largest cryptocurrency by market capitalization, has seen a dramatic drop in transaction fees, according to a recent Analysis by Santiment, a prominent crypto analytics platform. Related Reading: Polygon In Peril: Will MATIC Bounce Back Or Stay Stuck In The Sub-$1 Doldrums? The report indicates that the average Ethereum transaction fee has plunged to a mere $1.12, marking the lowest daily average cost since October 18th, 2023. Ethereum Transaction Fees: A Window Into Market Sentiment This significant decrease in transaction fees has sparked discussions among crypto enthusiasts and analysts alike. Santiment’s Analysis suggests a strong correlation between transaction fees and the overall sentiment within the cryptocurrency market. The Analysis highlights that periods of e...

Bitcoin price struggled to settle above the $65,000 zone. BTC is again moving lower and there is a risk of more downsides below $62,000. Bitcoin started another decline after it failed to surpass the $64,000 resistance zone. The price is trading below $64,500 and the 100 hourly Simple moving average. There is a key bearish trend line forming with resistance at $63,350 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could accelerate lower if there is a daily close below the $62,400 support zone. Bitcoin Price Dives Again Bitcoin price attempted a fresh increase above the $64,000 zone. However, BTC failed to gain pace for a move above the $65,000 resistance zone. A high was formed at $64,301 and the price started another decline. There was a move below the $63,800 level. The price declined below the 50% Fib retracement level of the upward move from the $62,408 swing low to the $64,301 high. Bitcoin is now trading below $63,2...

After an extended period of trading in consolidation, analysts suggest that XRP appears to be poised for a breakout in the coming months if historical patterns replicate.  In particular, crypto analyst Dark Defender, through an X post on April 27, drew parallels between current market conditions and the period from 2013 to 2017. The analyst stated that XRP investors should anticipate “ exciting changes” to unfold over the next three months,  The focus of the Analysis is on XRP’s price movements, mainly its lows aligning with a key support line reminiscent of patterns observed during the 2013-2017 period, which preceded a significant uptrend in XRP’s value. Picks for you 3 cryptocurrencies to avoid trading in May's first week 38 mins ago Japanese Yen at 34-year low, U.S. Dollar climbs on inflation data 1 hour ago ETH price prediction as DTCC lists finance giant's Ethereum spot ETF 2 hours ago Bitcoin volatility incoming...

Crypto Boy provides insights on Dogeverse, a multi-chain token catching the attention of investors across blockchains like Ethereum, BNB, Polygon, Avalanche, Solana, and more. With over $11 million secured in its funding, this new dog-themed meme coin is poised to establish itself as a major player in the crypto presale market. Exploring the potential of Dogevers: A multi-chain presale opportunity with high growth prospects Dogeverse is not just another cryptocurrency; it’s a multi-chain project designed to capitalize on the popularity and community-driven success of Dogecoin derivatives, such as Doge20. As a presale token, Dogeverse offers investors a unique opportunity to buy in at an early stage, with the potential for substantial returns. Currently priced at $0.000302, $DOGEVERSE tokens can be acquired during the presale, which has already attracted over $11 million in investment. With only 6.12% left to raise, the anticipation is building among both the project team and...

The Spot Bitcoin ETFs have seen their demand drop since the start of this month, and this was again evident in the considerable outflows recorded on April 26. This poor run has had far-reaching effects on the broader crypto market as Bitcoin’s price has succumbed to unfavorable market conditions.  Spot Bitcoin ETFS Record $217 Million Of Outflows Farside Investors revealed in an X (formerly Twitter) post that the Spot Bitcoin ETFs recorded $217 million of net outflows on April 25, one of their largest this month. Grayscale’s Bitcoin Trust (GBTC) accounted for most of these outflows, with investors moving $139.4 million out of the fund.  Related Reading: Why Is The Dogecoin Price Down Today? Some other funds also recorded individual outflows. Ark Invest’s Spot Bitcoin ETF recorded $31.3 million in outflows, wh...

Recently, Dog WIF hat ( WIF ) has gained popularity in the cryptocurrency market. Meme coin investors and cryptocurrency enthusiasts are attentively observing its performance. With its unique branding and expanding cult, there is speculation that WIF could hit the $10 mark in May. Dog WIF hat now has a $2.93 billion market value and is trading at $2.94. WIF has bounced back from its surge and is currently below the $3 threshold after its recent rally above $3.5. Source: CoinGecko Also read: Solana Hold Steady Above $155: Can SOL Hit New ATH In May? WIF’s Price Action and All-Time Highs  Dogwifhat’s price action has been noteworthy, with the meme coin recently achieving an all-time high of $4.85 on March 31, 2024. WIF has come a long way since its all-time low of $0.0677, recorded on January 8, 2024. As the Bitcoin halving is now over and May is approaching, the increased market activity and overall bullish sentiment could potentially spill over into the meme c...

De-dollarization is the main agenda and topic of discussion in the upcoming BRICS 2024 summit in October this year. The 16th summit will be held in the Kazan region of Russia where new members the United Arab Emirates, Egypt, Iran, and Ethiopia will also be a part of the grouping. The summit will also plan on expansion making BRICS to become bigger and financially stronger. Also Read: BRICS : Another Country Officially Ditches the US Dollar BRICS will discuss new ideas to put local currencies first for cross-border transactions and not the US dollar.  Read here to know how many sectors in the US will be affected if BRICS ditches the dollar for trade. More than 40 developing countries have formally expressed their interest in joining the alliance. Therefore, the 10-member bloc will decide on BRICS expansion in the October summit in Russia. The expansion is based on consensus and all members will jointly decide on who is let in and which ...

Russia’s oil and gas revenue could double this month pocketing a staggering $14 billion in April 2024 alone. The surge in profits comes despite the US pressing economic sanctions against Russia for invading its neighboring country Ukraine. Also Read: 3 Top Performing Commodities That Delivered Double-Digit Profits The country’s oil and gas revenue had slumped drastically by 23.9% last year compared to 2022 due to the sanctions. However, it sidelined the US sanctions this year selling oil at cheaper prices to Europe and other developing countries. Top oil-exporting country Saudi Arabia had purchased oil at discounted prices from Russia and laundered it all over Europe. India had also procured cheap Russian oil and saved nearly $7 billion in exchange rates. China has also been among the top purchasers of Russian oil since 2022 after the US pressed economic sanctions. Also Read: US Stock Delivers 530% Profits in 4 Years: Do You Own It?...

Most individuals flock to the crypto industry to scour for avenues promising substantial returns. Among the plethora of assets in the market, the Shiba Inu coin [SHIB] certainly stands out. With its trio of tokens SHIB, LEASH, and BONE, the network has captured the attention of traders across the globe. As we venture into the second quarter of 2024, the question remains if the trifecta can deliver prominent gains. Examining the Q1 Gains The opening act of 2024 recorded a notable surge in the Shiba Inu ecosystem. It went on to lay the groundwork for what could be a pivotal period ahead. Bitget, a prominent exchange reported a staggering 190% surge in the meme coin’s value. This rise is mirrored by its companions with LEASH rising by 87% and BONE by 25%. In Q1, we've seen a surge in the #SHIB ecosystem sector, with trading volume increased by 416%, and no. of traders 178%. Top 3 Gainers in SHIB Ecosystem Sector $SHIB +190% @Shibtoken $LEASH +87% $BONE +25% Find more tre...

A widely followed crypto strategist believes that a layer-1 altcoin running on a hybrid consensus mechanism will do big rallies this year. Pseudonymous analyst Altcoin Sherpa tells his 215,600 followers on the social media platform X that he’s bullish on Core (CORE). According to the analyst, CORE looks strong after erasing most of the losses witnessed earlier this month. “CORE: These [Fibonacci levels] have held up extremely well. The chart also looks very solid. I have a bag of this one and think it’s going to do big numbers in 2024. Wouldn’t personally buy around this current $2.70-$2.90 level but would rather wait for a dip around $2.20-ish to buy.”  Source: Altcoin Sherpa/X At time of writing, CORE is trading for $2.50, up over 355% from its 2024 opening price of $0.549. The trader is also keeping an eye on Ethereum (ETH) challenger Near (NEAR). Altcoin Sherpa shares a chart suggesting that NEAR will pull back below $6.50 bef...

The Bitcoin price rose by a fraction of a percentage in the last 24 hours to trade at $66,690 as of 01:16 a.m. EST on trading volume that dropped 3% to $24 billion. This comes as K33 Research analysts say that the speculated return of more than $9 billion worth of Mt. Gox-era Bitcoin in the coming weeks could “spook the market” and, in turn, put negative price pressure on Bitcoin. Mt. Gox’s 142,000 Bitcoin Payout Trustee announces payout plan: 142,000k BTC, 143k BCH, & 69 Billion Yen to be distributed. Repayment possible by Oct 31, 2024 pic.twitter.com/n0iOYYmZUk — Kashif Raza (@simplykashif) April 22, 2024 Creditors of the failed Mt. Gox crypto exchange reported seeing updates on their claims earlier this week, leading them to conclude that crypto payments could be coming soon. The updates indicated how much cryptocurrency and fiat were owed to creditors and the completed repayment dates. “Mt. Gox coins could become a relevant negative price ...

Archax, Ownera and The HBAR Foundation have enabled the first tokenization of BlackRock’s money market fund (MMF) on Hedera. This is a major development in the real-world assets (RWAs) industry and comes after abrdn plc tokenized its MMFs on Hedera last year. The crypto world has witnessed a historic moment in the real-world assets (RWAs) industry after Archax, a London-based digital asset exchange, broker and custodian, tokenized the BlackRock ICS US Treasury money market fund (MMF) on the Hedera (HBAR) blockchain. Archax collaborated with the HBAR Foundation and the institutional-grade digital assets platform Ownera to bring the MMF to Hedera. According to details in an announcement, the milestone follows Hedera Council member abrdn’s successful token ization of its MMFs on Hedera last year. abrdn is the largest active wealth manager in the UK and its flagship token ized funds marked a major milestone in the asset management industry. Today w...