Chain News by Thebittimes.Com

Hong Kong has recently launched three Ethereum ETFs for its citizens to explore and interact with. The step marks an important chapter for the crypto vertical to note, outlining the rising web3 narratives sweeping the world gradually.  The launch of Ethereum ETFs has been dubbed significant for the price of Ethereum, as the event can trigger ETH to encounter a much-needed price spike for it to ascend to a new price threshold.  Also Read: Settlement Woes Weigh On XRP: Will Ripple Hit $1 Sooner Than Later? Ethereum Price Prediction Post-ETF Launch: How Will It Perform?  The launch of the Ethereum ETF in Hong Kong is being considered positive for Ethereum. The inflow of funds injected into the domain through ETF trading is poised to help Ethereum stabilize and recover some of its lost valuations.  Ethereum Is Approaching Another Major Breakout In 2024… With the DTCC listing and Hong Kong ETFs trading, #ETH is headed for a major breakout !! What's Yo...

BRICS member China is in trouble as the Chinese Yuan is unable to keep pace with the growing US dollar. China’s exporters are bracing currency volatility as the US dollar outperformed the Chinese Yuan making it fall to its December 2023 lows. The development impacts businesses in China leading to losses and low profits to exporters and international currency operators. Also Read: BRICS : China Dumps $74 Billion in US Treasuries A recent report indicates that China’s exporters are shunning the Chinese Yuan and are storing value elsewhere. Exporters in China are only converting back what they need and are mostly staying away from the Chinese Yuan . The development is completely opposite to what BRICS had set to achieve this year by planning to make the Chinese Yuan and other local currencies thrive against the US dollar. Also Read: BRICS Conducts $260 Billion Worth Trade Without the US Dollar BRICS: Exporters in China Are Shunning the ...

Hong Kong’s Ethereum and Bitcoin ETFs (exchange-traded funds) recorded over HK$49.4 million ($6.3 million) in trading volume during the morning session of their Apr. 30 debut on Hong Kong Exchanges and Clearing Ltd. (HKEX). China Asset Management’s ChinaAMC Bitcoin ETF recorded the most trading volume after it registered HK$22.97 million in activity during the first half of the trading day, HKEX data shows. The asset manager’s Ether ETF was the second-most active fund and processed HK$10.47 million in volumes. Hong Kong Spot Ethereum And Bitcoin ETFs Debuted Shortly After Approval  Six spot Ethereum and BTC ETFs started trading, managed by C hina Asset Management, Harvest Global , Bosera and HashKey.  Harvest’s Bitcoin fund, the Harvest Bitcoin Spot ETF (3439.HK), experienced HK$8.11 million in trading activity on its first day. Meanwhile, the company’s Ethereum ETF, the Harvest Ether Spot ETF (3179.HK), posted HK$2.18 million in trading vol...

Cryptocurrency investors are increasingly seeking opportunities that offer the potential for substantial returns while minimizing risk. In a recent tweet, prominent crypto analyst Michaël van de Poppe identified three altcoins that he believes could generate a 3x return with the lowest amount of risk: Optimism (OP), Chainlink (LINK), and WOO Network (WOO). These cryptocurrencies have demonstrated strong fundamentals and have the potential to deliver significant gains in the coming year. Also read: Top 3 Meme Coins For 10X Gains To Include In Your Portfolio Optimism (OP) Source: Crypto News Optimism, a layer-2 scaling solution for Ethereum, has been gaining traction in the crypto community because of its ability to improve the Ethereum network’s scalability and efficiency. Currently trading at $2.46, OP has experienced a 6.99% decrease in the past 24 hours. However, the coin’s 30-day low and high stand at $1.86 and $3.75, respectively, suggesting a potential for ...

Bitcoin (BTC) continues to consolidate below the $65,000 mark, which serves as the new resistance level, with the market looking for the possibility of a price bottom that can act as an anchor to a new rally.  In line with this, cryptocurrency trading expert TradingShot shared insights on Bitcoin’s current state in a TradingView post on April 29, highlighting the imminent test of the bottom of the Bollinger Bands (BB) in the three-day timeframe. This impending test, set for the first time in three months, indicates a tightening squeeze between the BB and bottom bases, historically signaling a bottoming out of prices. Picks for you Bitcoin Bloodbath 2.0: Will BTC price crash in May? 28 mins ago What’s going on with the Dollar vs. Japanese yen (USD/JPY)? 2 hours ago Trudeau proposes 67% Capital Gains Tax for stocks and crypto 2 hours ago Google Gemini predicts Silver price for the end of 2024 3 hours ago According to the analysis, Bi...

BRICS member Russia’s revenue in the oil and gas sector to double in April 2024 despite the US pressing economic sanctions. Russia bypassed US sanctions by selling oil at discounted prices to other trade allies since 2022. Saudi Arabia procured oil at discounted rates from Russia and laundered it all across Europe last year. The move helped the country to balance its economy and stay afloat despite sanctions from the White House. Also Read: BRICS Expansion Will Change the Global Economy: Expert In addition, BRICS member India was on an Oil buying spree from Russia and saved $7 billion in exchange rates. China is relentlessly buying Oil from Russia at cheaper prices and settling trade in the Chinese Yuan. The development indicates that the US sanctions have done little to nothing to hamper  Russia ’s economy. Read here to know how many sectors in the US will be affected if BRICS ditches the dollar for trade. Also R...

1. Starknet Foundation Announces Airdrop Redistribution of STRK to Three User Categories link The Starknet Foundation has announced that it will distribute STRK tokens through a retroactive airdrop to three categories of users: Pooled stakers, StarkEx users mistakenly identified as VeVe users, and actual VeVe users. Regarding Pooled stakers, the foundation initially intended to distribute STRK to eligible stakers through the staking protocols they use. However, many staking protocols were unable to complete the distribution task. The supported protocols or entities currently include Lido, Rocket Pool, BloxStaking, SharedStake, stakefish, Consensys, and Ankr Staking. Qualified recipients will be able to claim their STRK directly through the Provisions website. 2. Base Network Reaches Total Supply of 2.46 Billion Native USDC and Bridged USDC link Jesse Pollak, head of the Base protocol, referenced USDC pool data to indicate that the total amount of native USDC and bridged USDC on the Bas...

Following the recent Bitcoin (BTC)  halving , the cryptocurrency landscape is focused on the asset’s future price trajectory.  As Bitcoin struggles to maintain its pre- halving stability above $65,000, investors and analysts are keenly observing its price behavior for clues about what lies ahead. In an X (formerly Twitter) post on April 26, crypto analyst Rekt Capital raised concerns about a potential “Danger Zone” following Bitcoin’s recent halving event.  Picks for you Biden's tax plan: Boom or Bust for investors? 1 hour ago Short squeeze alert for next week: Two cryptocurrencies with potential to skyrocket 3 hours ago ‘Epic Sat’: Bitcoin halving ’s rare BTC unit sells for $2.1 million 4 hours ago BNY Mellon: World'sWorld's largest custodian bank reports exposure to BTC 4 hours ago The concept of the ‘Danger Zone’ draws from patterns observed in previous cycles, such as in 2016, when Bitcoin’s price dr...

Nilam Resources , a penny stock listed on OTC Markets that has seen numerous controversies, fumbles, and miscalculations over the past month, has issued a press release stating that it will no longer be seeking to acquire 24,800 bitcoins , or a merger with Mauritius-based company, Mindwave. The company saw its fortunes briefly rise when it was mischaracterized as a ‘South American mining company’ that was planning to acquire 24,800 bitcoin. However, its stock gains vanished almost overnight after its former CEO and president, Ron McIntyre, called it a ‘classic pump and dump.’ Nilam Resources’ stock gains vanished after it was branded a ‘classic pump and dump. New executives, new problems Shortly after McIntyre made his statements, Nilam Resources announced that it had a new CEO and president — but then a Reddit user noticed that the company had hijacked its logo from a small, California-based skate company called Powell Peralta. A few days...

Prominent analyst Rekt Capital recently conducted a technical Analysis on Dogecoin (DOGE), revealing crucial insights into the potential trajectory of the popular meme coin. The Analysis underscores DOGE’s inability to sustain its monthly retest of the crucial $0.20 level, leading to a retreat into a confluent support area. DOGE has fallen into the black-red range, so the chances of a recovery above Range High appear slim, despite the fact that there is time for such a move to occur. Rekt Capital predicts that DOGE will likely confine itself to consolidating within this range for the time being, with the Range Low area offering the most attractive bargain opportunity for investors. Also read: Solana Hold Steady Above $155: Can SOL Hit New ATH In May? Dogecoin Potential Head and Shoulders Formation Source: Rekt Capital While DOGE has managed to maintain its position above the old Bull Flag bottom, Rekt Capital draws attention to a potential Head and Shoulders (H...

A presale for Solana’s hottest new GambleFi token, Mega Dice ($DICE), kicked off last Wednesday, quickly netting over $500,000 dollars in the first seven days, according to the token’s website. Mega Dice is already a well-established name in GambleFi. It launched last year as the world’s first licensed crypto casino accessible through the popular messaging app Telegram and has since attracted 50,000 players. Others have since followed suit and launched iGaming bots on Telegram, most notably TG Casino. Mega Dice’s website currently offers gamers over 4,500 ways to win money, including classic staples like slots, roulette and blackjack, in addition to a comprehensive bookmaker that streams the most popular games from a selection of over 50 sports and esports.  The bookmaker currently collects average monthly wagers totalling $50 million between some 10,000 monthly active users. The ICO for Mega Dice’s new crypt...

Following a sharp decline in Cardano (ADA) value, which occurred in tandem with Bitcoin’s withdrawal from its latest all-time high (ATH) of $69,328, Dan Gambardello, a crypto analyst, has recently weighed in on the implications of this pullback for the broader bull market. Particularly Gambardello views this development positively, suggesting it mirrors historical patterns that could signal a strengthening market for ADA. Related Reading: Crypto Exchange Says Cardano Price Can Reach $165, Here’s When Cardano’s Price Action And Bull Market Indicators Dan Gambardello, a prominent figure in crypto Analysis , elaborated on ADA’s recent price action, comparing it to the altcoin’s behavior in previous bull cycles. He pointed out that similar pullbacks have historically preceded significant rallie...