News
Bitcoin Stable at $71,000, Wormhole Becomes Top Gainer
Bitcoin (BTC), the world’s oldest and most valued cryptocurrency, managed to stay above the $71,000 mark early Wednesday, occasionally dropping as low as $70,000 before rallying back not long after. Other popular altcoins — including Ethereum (ETH), Dogecoin (DOGE), Ripple (XRP), Solana (SOL), and Litecoin (LTC) — ended up in the green across the board as the overall market fear and greed index he remained standing. to 66 (Greed) out of 100, according to CoinMarketCap data. The Stacks (STX) token was the biggest gainer, with a jump of more than 9% in 24 hours. Toncoin (TON) became the biggest loser, down nearly 7% over 24.
At the time of writing, the global cryptocurrency market capitalization stood at $2.63 trillion, recording a 0.15% decline over 24 hours.
Bitcoin (BTC) price today
According to CoinMarketCap, the price of Bitcoin stood at $71,222.08, recording a jump of 0.20% in 24 hours. According to Indian exchange WazirX, the price of BTC stood at Rs 61.07 lakh.
Ethereum (ETH) price today
At the time of writing, ETH price stood at $3,857.69, marking a 24-hour gain of 1.32%. According to WazirX, the price of Ethereum in India stood at Rs 3.31 lakh.
Dogecoin (DOGE) price today
DOGE is down 0.70% in 24 hours, according to CoinMarketCap data, with the price currently trading at $0.1623. According to WazirX, the price of Dogecoin in India was Rs 13.70.
Litecoin (LTC) price today
Litecoin recorded a 1.38% jump in 24 hours. As of this writing, it was trading at $85.02. The price of LTC in India stood at Rs 7,151.
Ripple (XRP) price today
XRP price settled at $0.5255, registering a 0.09% jump in 24 hours. According to WazirX, the price of Ripple stood at Rs 44.94.
Solana (SOL) Price today
Solana’s price settled at $171.32, marking a decline of 1.15% in the 24 hours. According to WazirX, the SOL price in India stood at Rs 14,506.81.
Top cryptocurrency gains today (June 7)
According to CoinMarketCap data, here are the five biggest cryptocurrency gains in the last 24 hours:
Wormholes (W)
Price: $0.7077
Earnings over 24 hours: 13.03%.
JasmyCoin (JASMY)
Price: $0.04153
Earnings over 24 hours: 9.63%.
ORDER (ORDER)
Price: $62.14
Earnings over 24 hours: 8.98%.
Injective (INJ)
Price: $28.38
Earnings over 24 hours: 7.06%.
Toncoin (TON)
Price: $7.67
Earnings over 24 hours: 6.30%.
Top cryptocurrency losers today (June 7)
According to CoinMarketCap data, here are the top five cryptocurrency losers over the past 24 hours:
Bitget Token (BGB)
Price: $1.21
Loss in 24 hours: 7.24%.
Notcoin (NOT)
Price: $0.02119
Loss in 24 hours: 5.73%.
Bon (Bonk)
Price: $0.00003197
Loss in 24 hours: 4.95%.
Fetch.ai (FET)
Price: $2.03
Loss in 24 hours: 4.85%.
Kaspa (KAS)
Price: $0.1735
Loss in 24 hours: 4.83%.
What cryptocurrency exchanges are saying about the current market scenario
Mudrex co-founder and CEO Edul Patel told ABP Live: “After breaking above $71,000 on Thursday, Bitcoin is now consolidating around $70,000 as the market awaits the release of US jobs data later today. If today’s jobs report and consumer price index (CPI) data, which will be released next week, align with market expectations, this could potentially send BTC to a new all-time high. The next resistance level is at $71,400, with support at $70,100.
CoinSwitch Markets Desk noted: “Yesterday, Bitcoin (BTC) rose to $71,700 following the European Central Bank (ECB) rate cut. However, the rally was short-lived, BTC fell rapidly and almost fell below $70,000 before settling slightly above that level today Over the same period, Uniswap’s (UNI) token, Chainlink’s LINK and Near’s NEAR have seen declines of 3%-5%. acquired Bitcoin for an additional $17 million, bringing its total holdings to $74 million. The company plans to raise $150 million to buy more Bitcoin. This move follows its previous investment of $40 million Semler into Bitcoin, which led to a 25% increase in its stock price.”
Rajagopal Menon, vice president at WazirX, said: “Bitcoin is approaching its March record high, currently just $3,000 lower, driven by a weaker dollar and expectations of Federal Reserve rate cuts. Renewed momentum among investors Bitcoin spot ETF is significant. Furthermore, rate cuts by the Bank of Canada and expected cuts by the European Central Bank have further strengthened optimism regarding lower global interest rates, supporting Bitcoin’s recovery.”
Sathvik Vishwanath, CEO and co-founder of Unocoin, said: “Bitcoin is at $70,900, down 1%, with a pivot point at $70,600 indicating potential upside movement. Resistance levels are at 71,800 $, $72,500 and $73,100, while support levels are at $70,600, $69,650 and $68,500. A bullish breakout from the symmetric triangle at $70,600, the 50-day EMA at $69,000 and the RSI at $66 indicate. Buying interest, however, is that a double gain near $71,800 calls into question increased buying pressure, while the move could push Bitcoin to $72,500. a break below $70,600 could signal a bearish trend.
Shivam Thakral, CEO of BuyUcoin, said: “The overall cryptocurrency market capitalization has jumped to the $2.63 trillion mark, with cryptocurrency heavyweights such as Bitcoin and Ethereum leading the effort. Bitcoin topped $71,000 on Tuesday while BTC ETFs saw inflows of $880 million on Tuesday, one of the best days since March for spot ETFs. The increase in investor activity may be a result of the Ethereum ETF listing approval and encouraging digital asset developments stemming from the ongoing US presidential campaign. If the momentum continues, we could see BTC hit the $100,000 mark by the end of 2024, as predicted by banking giant Standard Chartered.”
CoinDCX’s research team told ABP Live: “The cryptocurrency market continued to be mixed, with BTC and ETH moving in a sideways range on lower time frames. BTC failed to break out of the resistance level key at $71,400. Currently, price action on the lower time frames is mixed, while it remains bullish on the longer time frames.”
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Disclaimer: Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any losses arising from such transactions. Cryptocurrency is not legal tender and is subject to market risks. Readers are advised to seek expert advice and carefully read the offering documents along with relevant relevant literature on the subject before making any type of investment. Cryptocurrency market forecasts are speculative and any investments made will be at the sole cost and risk of the readers.
News
Ether Drops Further After ETF Launch
Key points
- Spot ether ETFs began trading in the U.S. today, with the funds initially having more than $10 billion in collective assets under management.
- Analysts expect the launch of spot ether ETFs to have a net negative impact on the underlying price of ether in the near term, due to expected outflows from the pre-existing Grayscale Ethereum Trust.
- Spot Bitcoin ETFs continue to see strong inflows, with BlackRock’s IBIT alone seeing more than $500 million in inflows on Monday.
- Franklin Templeton, a spot ETF issuer on bitcoin and ether, has invested in a project that intends to bring Ethereum technology to Bitcoin.
Nine-point ether exchange-traded funds (ETFs)) started trading on the stock market on Tuesday, but all the optimism ahead of their approval did not translate into gains for the cryptocurrency markets.
Ether (ETH), the native cryptocurrency of the Ethereum blockchain, dropped less than 1% around the $3,400 level as of 1:30 PM ET, while Bitcoin (BTC) fell more than 2% to around $66,000.
Ether ETFs’ Debut Isn’t as Flashy as Bitcoin ETFs’
Spot ether ETFs began trading at just over $10 billion assets under management (AUM)), according to Bloomberg Intelligence analyst James Seyffart, most of that money is in the current Grayscale Ethereum Trust (ETHE) which has now been converted into an ETF.
“In the long term, Grayscale will simultaneously have the highest and lowest fees in the market. The asset manager’s decision to keep its ETHE fee at 2.5% could lead to outflows from the fund,” Kaiko Research said in a note on Monday.
Outflows from ETHE, if they occur, would be similar to those faced by Grayscale’s Bitcoin Trust (GBTC) after spot bitcoin ETFs began trading in January of this year, most likely due to high fees for the two original funds. Grayscale’s existing fund charges 2.5% fees, while a new “mini” ether ETF will charge 0.15% and commissions for other ETFs are set at 0.25% or less.
Such outflows could impact the price of ether and market sentiment.
“There could be a pullback shortly after the launch of Ethereum spot ETFs, i.e. outflows from Grayscale Ether Trust could dampen market sentiment in the short term,” Jupiter Zheng, a partner at Hashkey Capital’s liquid fund, told The Block.
But Grayscale remains optimistic.
“Compared to the splashy debut of spot bitcoin ETPs in January, the launch of ethereum ETPs has been relatively muted,” said Zach Pandl, Grayscale’s head of research, adding that investors may be “undervaluing” ether ETFs that are “coming to the U.S. market in tandem with a shift in U.S. cryptocurrency policy and the adoption of tokenization by major financial institutions.”
Bitcoin ETF Inflows Continue to Rise
As for bitcoin, there is clearly no lack of demand for spot ETFs, such as BlackRock’s iShares Bitcoin Trust (IBITS) recorded its sixth-largest day of inflows in its short history on Monday, at $526.7 million, according to data from Farside Investors. Daily inflows for the overall spot bitcoin ETF market also hit their highest level since June 5.
In particular, asset manager Franklin Templeton, which has issued both bitcoin and ether ETFs, appears to have decided to cover its back when it comes to Ethereum by investing in Bitlayer, a way to implement Ethereum technology on a second-layer Bitcoin network, according to CoinDesk.
News
Spot Ether ETFs Start Trading Today: Here’s What You Need to Know
Key points
- Spot ether ETFs will begin trading on U.S. exchanges on Tuesday. Nine ETFs will trade on Cboe BZX, Nasdaq and NYSE Arca.
- Ether ETFs offer investors exposure to the price of their underlying assets.
- Commissions on these new ETFs generally range from 0.15% to 0.25%.
- These ETFs do not provide exposure to Ethereum staking.
The U.S. Securities and Exchange Commission (SEC) has officially approved nine ether spots (ETH)exchange-traded funds (ETFs) for trading on U.S. exchanges. Trading for these new cryptocurrency investment vehicles begins today. Here’s everything you need to know.
What new ether ETFs are starting to trade today?
Spot ether ETFs starting trading today can be found at Quotation, NYSE Arkand Cboe BZX. Here’s a breakdown of each ETF you can find on these three exchanges, along with the fund tickers:
Cboe BZX will list the Invesco Galaxy Ethereum ETF (QETH), the 21Shares Core Ethereum ETF (CETH), the Fidelity Ethereum Fund (FETH), the Franklin Ethereum ETF (EZET) and the VanEck Ethereum ETF (ETHV).
Nasdaq will have the iShares Ethereum Trust ETF (ETHA) created by BlackRock, which also operates the largest spot bitcoin ETF under the ticker IBIT.
NYSE Arca will list the Bitwise Ethereum ETF (ETHW) and the Grayscale Ethereum Trust (ETHE). The Grayscale Ethereum Mini Trust (ETH), which will begin trading on the same exchange.
How does an ether ETF work?
Spot ether ETFs are intended to offer exposure to the price of ether held by the funds. Ether is the underlying cryptocurrency of the Ethereal network, the second largest crypto network by market capitalization.
ETF buyers are buying shares of funds that hold ether on behalf of their shareholders. Different spot ether ETFs use different data sources when it comes to setting the price of ether. Grayscale Ethereum Trust, for example, uses the CoinDesk Ether Price Index.
None of the ETFs launching today include pointed etherwhich represents a potential opportunity cost associated with choosing an ETF over other options such as self-custody or a traditional cryptocurrency exchange.
Ether staking currently has an annual return of 3.32%, according to the Compass Staking Yield Reference Index Ethereum. However, it is possible that the SEC will eventually approve Ether staking held by ETFs.
How can I trade Ether ETFs?
ETFs can simplify the trading process for investors. In the case of cryptocurrencies, instead of taking full custody of the ether and taking care of your own private keysSpot ether ETFs allow investors to purchase the cryptocurrency underlying the Ethereum network through traditional brokerage accounts.
Today, not all brokers may offer their clients spot ETFs on cryptocurrencies.
What are the fees for ether ETFs?
The fees associated with each individual spot ether ETF were previously revealed In the S-1 OR S-3 (depending on the specific ETF) deposit associated with the offerings. These fees are 0.25% or less for all but one.
The Grayscale Ethereum Trust, which converts to an ETF, has a fee of 2.5%. The Grayscale Mini Ethereum Trust has the lowest fee at 0.15%. These fees are charged on an annual basis for the provider’s management of the fund and are in line with what was previously seen with spot bitcoin ETFs.
Brokers may also charge their own fees for cryptocurrency trading.
News
Kamala Harris Odds Surge Amid $81M Fundraise. What Does It Mean for Bitcoin and Cryptocurrencies?
Market odds and memecoins related to US Vice President Kamala Harris have soared as the latest round of donations tied to the Democratic campaign raised $81 million in 24 hours, bolstering sentiment among some traders.
The odds of Harris being declared the Democratic nominee have risen further to 90% on cryptocurrency betting app Polymarket, up from 80% on Monday and setting a new high.
Previously, in early July, bettors were only betting on 8%, but that changed on Saturday when incumbent President Joe Biden announced he would no longer run in the November election. Biden then approved Harris as a candidate.
Polymarket traders placed $28.6 million in bets in favor of Harris, the data showsThe second favorite is Michelle Obama.
Somewhere else, Memecoin KAMA based on Solanaa political meme token modeled after Harris, has jumped 62% to set a new all-time high of 2 cents at a market cap of $27 million. The token is up a whopping 4,000% from its June 18 low of $0.00061, buoyed primarily by the possibility of Harris becoming president.
As such, Harris has yet to publicly comment on cryptocurrencies or her strategy for the growing market. On the other hand, Republican candidate Donald Trump has expressed support for the cryptocurrency market and is expected to appear at the Bitcoin 2024 conference on Saturday.
However, some expect Harris or the Democratic Party to mention the sector in the coming weeks, which could impact price action.
“While he has not yet received the official nomination, there is consensus that last night’s development is in line with current Democratic strategy,” cryptocurrency trading firm Wintermute said in a Monday note emailed to CoinDesk. “Keep an eye on Democrats’ comments on this issue in the coming days.
“The prevailing assumption is that Harris will win the nomination and any deviation from this expectation could cause market volatility,” the firm added.
News
Top 30x Cryptocurrency and Coin Presales Today: Artemis Coin at #1, Others Are: BlockDAG, 99Bitcoin, eTukTuk, and WienerAI
The cryptocurrency market has seen a lot of growth and imagination lately, with new ventures popping up regularly. A critical pattern in this space is the rise of crypto pre-sales, which give backers the opportunity to get involved with promising projects early on. Artemis is a standout option for crypto investors looking to expand their portfolios amid the many pre-sales currently underway.
Cryptocurrency presales, commonly referred to as initial coin offerings (ICOs), allow blockchain ventures to raise capital by offering their local tokens to early backers before they become available on open exchanges. Investors can take advantage of these presales by purchasing tokens at a lower price. If the project is successful and the token’s value increases, investors stand to receive significant returns.
>>> Explore the best cryptocurrency pre-sales to buy now <<
The Ultimate List of the Top 5 Cryptocurrency Pre-Sales to Invest In
- Artemis: The aim of Artemis (ARTMS) will become the cryptocurrency equivalent of eBay or Amazon. The upcoming Phase 4 will see the launch of the Artemis Framework, which will serve as a stage for digital money exchanges where buyers, sellers, specialized organizations and those seeking administration can participate in coherent exchanges.
- DAG Block: uses Directed Acyclic Graph technology to increase blockchain scalability.
- 99bitcoin: operates as a crypto learning platform
- WienerAI uses AI-powered trading bots for precise market analysis.
- eTukTuk focuses on environmentally sustainable transportation options, such as electric vehicle charging infrastructure.
We have determined that Artemis is the best new cryptocurrency presale for investment after conducting extensive research. It presents itself as the unrivaled cryptocurrency presale choice currently open.
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Top 5 Crypto Pre-Sales and Best Cryptocurrencies for Investment Today
Artemis (ARTMS) is attempting to establish itself as the cryptocurrency version of eBay or Amazon. The Artemis Crypto System, which will act as a platform for cryptocurrency transactions, will be launched in Phase 4. Buyers, sellers, service providers, and requesters will all benefit from seamless trading with this system. Customers will be able to purchase things, such as mobile phones using digital money, as well as sell products such as involved bicycles and get paid in cryptocurrency. Additionally, crypto money can be used to pay for administrations such as clinical consultations, legitimate care, and freelance work. Artemis Coin will act as the main currency of the ecosystem, with Bitcoin and other well-known cryptocurrencies from various blockchain networks backing it.
Artemis Coin has increased in price from 0.00055 to 0.00101 from 0.00094. Artemis may be attractive to individuals looking to recoup losses in Bitcoin, as predicted by cryptocurrency analysts. At this point, it seems to present an interesting presale opportunity.
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The world of digital currency pre-sales is an exciting and exciting opportunity that could open the door to game-changing blockchain projects. Projects in this article, like Artemis Coin, offer the opportunity to shape the future of various industries and the potential for significant returns as the industry develops.
However, it is imperative to approach these investments with caution, thorough research, portfolio diversification, and awareness of the risks. You can explore the digital currency pre-sale scene with greater certainty and increase your chances of identifying and profiting from the most promising venture opportunities by following the advice and methods in this article.
>>> Join the best cryptocurrency pre-sale to invest in now <<
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