Tag Archives: Cryptocurrencies

Global Markets Weekly Outlook

Global Markets Weekly Outlook: This week features key economic events from Australia,
the U.S., the U.K., and Canada, offering fresh insights into manufacturing, consumer confidence, inflation, and GDP trends.
These releases will be pivotal for market sentiment and investor positioning.
Alongside the data, major assets like USDJPY, Gold, EURUSD, Dow Jones,
and NZDUSD are approaching crucial technical levels that could drive significant price action.
Below is a breakdown of this week’s economic calendar and key market setups.

 

 

 

Economic Data

Monday, March 24, 2025
01:00 Australia – Manufacturing PMI (March)
 01:00 Australia – Services PMI (March)

Tuesday, March 25, 2025
17:00 United States – CB Consumer Confidence Index (March)
 17:00 United States – New Home Sales (February)

Wednesday, March 26, 2025
10:00 United Kingdom – Consumer Price Index (YoY) (February)

Thursday, March 27, 2025
15:30 United States – Gross Domestic Product (Quarterly) (Q4)

Friday, March 28, 2025
10:00 United Kingdom – Gross Domestic Product (YoY) (Q4)
 10:00 United Kingdom – Gross Domestic Product (Quarterly) (Q4)
 15:30 United States – Core Personal Consumption Expenditures (PCE) Price Index (MoM) (February)
 15:30 United States – Core Personal Consumption Expenditures (PCE) Price Index (YoY) (February)
 18:00 Canada – Annual Government Budget Balance (January)

 

USDJPY

The USDJPY pair is trading around 149.29,
following last week’s gains after both the Bank of Japan and the U.S. Federal Reserve held interest rates steady.
The U.S. dollar showed relative strength against the yen,
pushing the pair to stabilize again above 148.62, supporting a continued bullish move towards 151.26.
 However, if the price breaks below 148.62 and closes under this level,
we could see a further decline toward 145.85.

 

Gold

Gold hit a new all-time high last week at $3,053,
supported by market turmoil stemming from trade tariffs and concerns over a global economic slowdown.
 However, by the end of the week, gold saw a bearish correction
after markets stabilized following the Fed meeting, with prices pulling back to $3,022.
 Gold is expected to continue its correction towards the psychological support level at $3,000.
If this level is broken, the decline could extend to $2,878.
 Conversely, if a bullish reversal pattern forms near $3,000, we may see a rebound toward $3,053.

 

 

 

 

 

EURUSD

The EURUSD pair is trading around 1.0811 after retreating from the supply zone,
which extended up to 1.0953, as the U.S. dollar strengthened by the end of last week.
 The pair is expected to continue moving lower toward 1.0620,
from where it may resume its bullish trajectory.

 

Dow Jones

The Dow Jones Index recorded further gains last week after the Federal Reserve held rates steady
Jerome Powell indicated the possibility of two rate cuts this year, boosting U.S. stock market sentiment.
 The index climbed to 41,985, expecting further upside toward the resistance levels at 42,500 and then 43,121.

 

NZDUSD

Last week, the NZUSD pair resumed its bearish trend after retesting a key role-reversal level near 0.5855,
reinforcing expectations of further downside toward the previous low at 0.5500.

 

Global Markets Weekly Outlook

Bitcoin Surges on Trump Jr.’s Endorsement & Institutional Interest

Bitcoin Surges on Trump Jr.’s Endorsement & Institutional Interest:
Cryptocurrency prices continued their gains on Thursday,
Bitcoin exceeded $98,000 following a statement from Eric Trump, son of the U.S. President,
urging his family’s World Liberty platform to invest in the digital asset.

 

Contents

Bitcoin

Adopting Bitcoin

Bitcoin as a Treasury Asset

 

 

 

 

Bitcoin Surges on Trump Jr.’s Endorsement & Institutional Interest

Cryptocurrency prices continued their gains on Thursday, with Bitcoin surpassing $98,000,
after Eric Trump encouraged his family’s World Liberty platform to invest in Bitcoin.

Bitcoin rose 0.67% to $98,119, while Ethereum surged 2.39% to $2,832.35.
Ripple climbed 1% to $2.4288, while Dogecoin, supported by Elon Musk, gained 2% to $0.2626.
Meanwhile, Trump’s token saw substantial gains of 6.78%, reaching $19.03.

In a post on the X platform, Eric Trump emphasized
that the time was right for World Liberty to invest in Bitcoin.
According to CoinDesk, his comments came just hours after the cryptocurrency hit record highs.

Despite these gains, digital asset traders remain cautious.
According to CoinMarketCap data,
the cryptocurrency market transaction volume fell 30.62% over the past 24 hours to $119.64 billion.

 

Major Companies Adopting Bitcoin as a Key Investment Asset

MicroStrategy, a software company that has become one of the largest institutional Bitcoin investors,
has inspired many corporations to buy and hold Bitcoin in their reserves to support struggling stock prices.

According to CoinGate, a cybersecurity firm,
pharmaceutical and advertising companies have joined a list of 78 publicly traded companies
worldwide that have followed MicroStrategy’s approach of purchasing Bitcoin as an alternative to holding cash reserves.

Michael Saylor, the founder of MicroStrategy, began aggressively accumulating Bitcoin in 2020,
transforming it into the company’s primary reserve asset.
With Bitcoin surging to $109,000 this year,
MicroStrategy has become the most significant corporate holder globally,
increasing its market value to $87 billion, nearly double the value of its Bitcoin holdings.

 

 

 

 

New Companies Using Bitcoin as a Treasury Asset

Several companies have adopted MicroStrategy’s model, including KULR Technology,
a U.S.-based thermal energy management company.
CEO Michael Mo announced that 90% of the company’s cash reserves would be invested in Bitcoin,
causing KULR’s stock to quadruple in value during December.

Other companies have taken a different approach by issuing bonds to finance Bitcoin purchases.
Semler Scientific, for example, acquired 871 Bitcoins for $88.5 million using convertible bonds, driving its stock price up 120%.
Donald Trump’s recent statements have further fueled Bitcoin enthusiasm.
He pledged to position the U.S. as a global leader in digital assets and,
in January, signed an executive order to establish a task force assessing the creation of a national digital asset reserve.

Additionally, regulatory changes have made it easier for financial
institutions to hold cryptocurrencies, further supporting the crypto market.

 

Bitcoin Surges on Trump Jr.’s Endorsement & Institutional Interest

Cryptocurrencies Surge Ahead of Fed Decision as Bitcoin Exceeds $102,000

Cryptocurrencies Surge Ahead of Fed Decision as Bitcoin Exceeds $102,000:
Cryptocurrencies rallied on Wednesday despite investor caution ahead of the Federal Reserve’s interest rate decision.
Bitcoin recorded gains surpassing $102,000, while Ethereum, Ripple, and Dogecoin also rose.
Meanwhile, the “Trump” token saw a decline.

 

Contents:

Cryptocurrencies 

U.S. Oil Inventories
Chinese Demand Slowdown 

 

 

 

 

Cryptocurrencies Surge Ahead of Fed Decision 

Cryptocurrencies saw gains during Wednesday’s trading session despite
cautious market sentiment ahead of the Federal Reserve’s interest rate decision.
Bitcoin surpassed $102,000, with Ethereum, Ripple, and Dogecoin rising, while the “Trump” token declined.

Daily trading volume in the crypto market dipped amid expectations that the Fed would maintain interest rates.
In a significant development, the Czech National Bank announced that it is considering investing 5% of its reserves in Bitcoin.
Additionally, Bitwise filed to launch a Dogecoin exchange-traded fund (ETF).

Meanwhile, Matrixport predicted a 20% rise in Bitcoin’s price during the Chinese Lunar New Year holiday,
citing past years’ positive performance trends.

 

 

 

U.S. Oil Inventories Rise Amid Declining Distillate Stockpiles and Stable Prices

According to the American Petroleum Institute (API), U.S. crude oil inventories increased by 2.86 million barrels last week.
However, stockpiles at the key storage hub in Cushing, Oklahoma, fell by approximately 144,000 barrels.

API data also revealed a 1.89 million-barrel increase in gasoline inventories,
while distillate stocks—including diesel and heating oil—declined by 3.75 million barrels for the week ending January 24.

Oil prices climbed at Tuesday’s close in energy markets.
Brent crude futures for March delivery rose 0.55% to $77.49 per barrel,
while U.S. WTI crude futures for March gained 0.8%, settling at $73.77 per barrel.

 

Chinese Demand Slowdown Pressures European Luxury Goods Stocks

European luxury goods stocks declined on Wednesday after LVMH’s earnings report indicated a slowdown in consumer spending in China,
reflecting caution amid weakening economic growth.

LVMH shares fell by more than 5%, while shares of Kering and Christian Dior saw similar declines.
Despite LVMH reporting better-than-expected revenues of €84.68 billion for 2024,
sales in Asia—particularly in China—showed significant deceleration, negatively impacting the entire luxury sector.

 

Cryptocurrencies Surge Ahead of Fed Decision as Bitcoin Exceeds $102,000

Dollar Rises as Asian Markets Dip on Trump’s Tariff Plans

Dollar Rises as Asian Markets Dip on Trump’s Tariff Plans:
The US dollar posted notable gains against most major currencies except for the Japanese yen.
At the same time, Asian stocks pared their early gains after US President Donald Trump announced
plans to impose new tariffs on Canada and Mexico starting next month.
This move aligns with a promise made during his election campaign.

US Treasury yields rose alongside Trump’s remarks
about imposing tariffs of up to 25% on Mexico and Canada by February 1.
Meanwhile, Chinese markets experienced sharp fluctuations as Trump decided
not to impose new tariffs on China during the initial days of his second term.
On the other hand, US stock futures remained primarily unchanged.

 

Content

Expected Trade Escalation

Currency and Market Performance

Trump Revisits Trade Policies

Policy Impacts on Commodities and Cryptocurrencies

Conclusion

 

 

 

 

Expected Trade Escalation Amid Market Caution

These developments in Asian markets followed gains in US stock futures on Monday,
Trump hints that new tariffs will not be imposed immediately through executive orders.
According to a “Wall Street Journal” report,
Trump plans to issue a comprehensive memorandum directing federal agencies
to review current trade policies and the US’s relationships with China, Canada, and Mexico.

Sharatchanana, Chief Investment Strategist at Saxo Markets, commented:
 “As expected, the calm surrounding tariffs did not last long.
The tariffs may have been postponed but not canceled, increasing the focus on Canada and Mexico,
while negotiations with China remain possible.”

 

Currency and Market Performance

The Canadian and Mexican currencies fell 1.4% following Trump’s tariff threats,
while the Bloomberg Dollar Index rose 0.7%, recovering from a 1.1% decline on Monday.
Additionally, US 10-year Treasury yields dropped by 8 basis points to settle at 4.54%.

Investors are cautiously awaiting the first executive orders from the White House,
especially after Trump pledged to expedite his “America First” agenda.
Since his victory in November’s election, global markets have faced significant disruptions,
including impacts on the Australian dollar and European equities,
amid fears that broad tariffs could escalate global trade tensions.

At the same time, the dollar continued to gain momentum,
bolstered by the Federal Reserve’s more cautious stance on easing monetary policies.

 

 

 

 

Trump Revisits Trade Policies

Speaking from the Oval Office, Trump stated:
 “We are considering imposing 25% tariffs on Canada and Mexico because they allow many people to enter the United States.
We should implement this by February 1.

Despite these remarks, Trump refrained from announcing new tariffs targeting China,
directing his administration to review global trade practices and assess China’s compliance with agreements made during his first term.

John Rong Yip, a market analyst at IG Asia Pte, said:
 “With a 25% rate as the starting point, markets will undoubtedly worry about the possibility of higher tariffs on China,
which could be Trump’s next trade target.”

 

Policy Impacts on Commodities and Cryptocurrencies

Oil prices declined as investors digested Trump’s pledges to boost domestic production.
In the cryptocurrency market, Bitcoin extended its losses for the fourth consecutive day amid heightened global caution.

 

Conclusion

Trump’s trade policies bring markets back into uncertainty and tension.
With new tariffs and increased volatility in commodity and currency markets,
investors remain on edge, awaiting further announcements that could significantly impact the global economy.

 

Dollar Rises as Asian Markets Dip on Trump’s Tariff Plans

Seize the Opportunity: Master Cryptocurrency Trading with Evest

Seize the Opportunity: Master Cryptocurrency Trading with Evest: Have you ever wondered about the future of money?
Are you searching for a smart way to invest and ride the wave of the latest financial trends?
Cryptocurrencies are more than just digital assets; they represent a revolution in the financial world.
If you’re ready to enter this dynamic space, Evest is your ultimate partner for trading success.

 

 

Content

Why Cryptocurrencies

Prominent Cryptocurrencies to Watch

How to Trade Cryptocurrency at Evest

Evest: Your Trusted Trading Platform

Take the First Step Today

Conclusion

 

 

 

 

Why Cryptocurrencies?

Cryptocurrencies like Bitcoin and Dogecoin have redefined how we think about money and investment.
They offer a modern, accessible way to grow wealth, and their popularity is soaring for good reasons:

Speed and Flexibility: Transactions are completed in minutes, with no intermediaries.

Decentralization: Free from government or banking control, giving you greater financial independence.

Profit Potential: The value of cryptocurrencies often increases with rising demand.

 

Prominent Cryptocurrencies to Watch

When considering cryptocurrency trading, focus on these standout options:

Bitcoin: The pioneer cryptocurrency, often called “digital gold,” is renowned for its market dominance and global adoption.

Dogecoin: Originally a meme coin, Dogecoin has gained traction as a fun and affordable way to explore the crypto world.

Ethereum: A versatile cryptocurrency enabling smart contracts and fueling decentralized applications.

Solana: Known for its unmatched speed and cost-efficiency.

Cardano: A blockchain platform delivering innovative and sustainable technological solutions.

All these cryptocurrencies and more are available for trading on the Evest platform,
giving you access to opportunities in the ever-evolving crypto market.

 

How to Trade Cryptocurrency at Evest

Getting started with cryptocurrency trading at Evest is simple, even for beginners:

Register an Account: Create your Evest account in just a few minutes.

Deposit Funds: Choose a funding method that suits you, such as a credit card or bank transfer.

Select Your Cryptocurrency: Browse the options, including Bitcoin, Dogecoin, and others,
and leverage the analysis tools available on the platform.

Start Trading: Use Evest’s intuitive interface to execute your trades confidently and securely.

With Evest, you have all the tools to succeed in cryptocurrency trading,
whether buying your first Bitcoin or exploring the potential of Dogecoin.

 

 

 

 

Evest Your Trusted Trading Platform

What makes Evest the best choice for cryptocurrency trading?

Support for Beginners: Access educational tools, tutorials, and expert reports to guide your trading journey.

Top-Notch Security: Benefit from advanced encryption to protect your data and funds.

Diverse Trading Options: Trade cryptocurrencies alongside stocks and commodities, all in one place.

Ease of Use: The platform’s design ensures seamless navigation, whether you’re a seasoned trader or a novice.

 

Take the First Step Today

Investing in cryptocurrencies like Bitcoin or Dogecoin can be a gateway to achieving your financial goals.
By trading on Evest, you join a community of investors who capitalize on market opportunities to generate significant returns.

Seize the Opportunity—cryptocurrencies are shaping the future of finance,
and with Evest, you can join this journey effortlessly and securely.

 

Conclusion

Whether you aim for long-term gains or want to capitalize on short-term market fluctuations,
Evest equips you with everything you need to trade cryptocurrencies with confidence.
Join the digital investment revolution today,
register on Evest, and take your first step toward success in the exciting world of cryptocurrency trading.

 

 

 

Seize the Opportunity: Master Cryptocurrency Trading with Evest

Bitcoin Surges to $90,000: A Milestone Moment in the Crypto World

Bitcoin Surges to $90,000: A Milestone Moment in the Crypto World:
Bitcoin has achieved another groundbreaking milestone by reaching a new all-time high of $90,000.
This surge highlights its growing influence and demand across global markets.
This article will explore the key factors driving Bitcoin’s meteoric rise,
It impacts the crypto market and what investors should consider moving forward.

 

Content

The Journey to $90,000 

Key Drivers Behind the Surge

Impact on the Crypto Market

Opportunities and Risks for Investors  

What’s Next for Bitcoin? 

Conclusion 

 

 

 

 

The Journey to $90,000 

Historical Context: This is a brief overview of Bitcoin’s price trajectory,
highlighting key milestones such as the $10,000, $50,000, and $90,000 marks.  

The surge is contributed to by increased institutional adoption, regulatory clarity,
and demand for decentralized finance (DeFi) solutions.

 

Key Drivers Behind the Surge

Institutional Support: Large institutions, such as investment funds and corporations,
continue to pour billions into Bitcoin, signaling long-term confidence.  

Economic and Geopolitical Tensions: Inflation fears, weakening fiat currencies,
and financial uncertainties have driven individuals to seek Bitcoin as a hedge.  

Technological Innovations: The evolution of Layer 2 solutions (e.g., the Lightning Network)
and improved transaction scalability have made Bitcoin more accessible for everyday use.

 

Impact on the Crypto Market

Altcoins and Market Capitalization: Ripple affects the broader crypto market,
with altcoins often rising with Bitcoin’s momentum.  

Increased Global Awareness: Higher Bitcoin prices increase media coverage and mainstream attention,
boosting its adoption and credibility.

 

 

 

Opportunities and Risks for Investors  

Potential Opportunities: Bitcoin’s rise creates significant opportunities for new and seasoned investors,
including portfolio diversification and potential high returns.  

Risks to Consider: The inherent volatility of cryptocurrencies,
regulatory risks, and the possibility of market corrections.

 

What’s Next for Bitcoin? 

Market Predictions: Insight into analysts’ forecasts and potential future price movements.  

Adoption Trends: Growing merchant adoption, use as a store of value,
and evolving blockchain technology developments.

 

Conclusion  

Bitcoin’s ascent to $90,000 showcases the growing global acceptance of digital currencies and decentralized finance.
While the journey has been volatile,
it underscores a broader financial transformation,
shaping how we think about money and value in the modern era.

 

Bitcoin Surges to $90,000: A Milestone Moment in the Crypto World

Bitcoin Price Drops Due to News of the Collapsed Mt. Gox Exchange

Bitcoin Price Drops Due to News of the Collapsed Mt. Gox Exchange: The largest cryptocurrency, Bitcoin,
has faced significant pressure due to concerns about potential sales by creditors of the collapsed Mt. Gox exchange.
In this article, we will review the impact of this news on Bitcoin and other cryptocurrencies and additional factors that have influenced market sentiment.

 Content

Bitcoin Price Drops

Impact of the News on Markets

History of the Mt. Gox Exchange

Concerns in the Digital Assets Market

Bitcoin’s Previous Performance

 

 

 

Bitcoin Price Drops Due to News of the Collapsed Mt. Gox Exchange

The price of Bitcoin fell by about 5% to trade at $54,400 at 9:25 AM on Monday in Singapore,
roughly $19,000 below the record level it reached last March.
Smaller cryptocurrencies like Ethereum, XRP, and the meme-favorite Dogecoin also declined.

 

Impact of the News on Markets

Sentiment was also affected by signs that the German government is disposing of confiscated Bitcoin holdings,
and global markets are acting cautiously as investors assess the results of Sunday’s legislative elections in France.

 

History of the Mt. Gox Exchange

Mt. Gox, based in Tokyo, was once the world’s largest Bitcoin exchange.
It was hacked in 2011 and declared bankruptcy in 2014.
The long-awaited return of cryptocurrencies to creditors may lead to a significant supply of the currency in the market.

 

 

Concerns in the Digital Assets Market

Chris Weston, Head of Research at Pepperstone Group,
wrote in a research note that the main concern in the digital assets market right now is determining the timing of expected large Bitcoin sales,
particularly from Mt. Gox creditors and the German government.

 

Bitcoin’s Previous Performance

Bitcoin’s price reached an all-time high in the first quarter of this year,
driven by demand following the launch of cryptocurrency exchange-traded funds (ETFs) in the U.S.
However, inflows to these funds have since declined,
and Bitcoin’s outperformance of other assets like stocks, evident at the start of 2024, is also rapidly decreasing.

 

Bitcoin Price Drops Due to News of the Collapsed Mt. Gox Exchange

Ether and Solana Overtake Bitcoin in Crypto Bets Amid ETF Hype

Ether and Solana Overtake Bitcoin in Crypto Bets Amid ETF Hype: The price of Solana rose at the highest pace in over a month,
while Ethereum has climbed 51% since the beginning of the year, compared to Bitcoin’s 45% increase.
Ethereum and Solana have started to steal the spotlight from their bigger sibling, Bitcoin,
as excitement over the launch of exchange-traded funds (ETFs) in the U.S. shifts to the smaller cryptocurrencies.


Contents

Submission of Investment Fund Applications

Spotlight on Bitcoin at the Beginning of the Year

Approval by the U.S. Securities and Exchange Commission

Future Prospects for Ethereum Funds

Speculations on ETF Approval Supporting Ethereum

Bitcoin ETFs in the U.S.

U.S. Authorities’ Stance on Cryptocurrencies

Ambiguity Around Ethereum’s Classification

Solana Classified as Unregistered Securities

Performance of Cryptocurrencies in the Markets

 

 

 

Submission of Investment Fund Applications

Solana’s price rose rapidly in over a month after investment firm VanEck filed to launch a cryptocurrency ETF.
Additionally, Ethereum has outperformed Bitcoin since the beginning of 2024 as final approvals for ETFs focusing on Ethereum investment draw near.

 

Spotlight on Bitcoin at the Beginning of the Year

At the beginning of 2024, the spotlight was entirely on Bitcoin when the first spot ETFs launched in the U.S. with the largest digital assets.
Bitcoin ETFs launched by companies such as BlackRock and Fidelity Investments attracted significant inflows,
driving Bitcoin’s price to a record high of $73,798 in March, but demand and price have since declined.

 

Approval by the U.S. Securities and Exchange Commission

Last month, the U.S. Securities and Exchange Commission (SEC) approved exchange proposals to list spot ETFs dealing with Ethereum.
Some reports indicate that final approvals for these funds may be issued next week.

 

Future Prospects for Ethereum Funds

Analysts have begun to abandon modest expectations for demand for ETFs that include Ethereum,
the second-largest cryptocurrency, which is less widespread than Bitcoin.
According to “Galaxy Digital Holdings” and “Fundstrat Global Advisors,” U.S. ETFs could see net inflows of $5 billion in the first five months.

 

Speculations on ETF Approval Supporting Ethereum

In a research note, Sean Farrell, head of digital asset strategy at “Fundstrat,” wrote:
“Investors are adopting very bearish expectations regarding the imminent launch of Ethereum ETFs.”
He expects these ETFs to be boosted by hedge funds attempting to profit from the price difference between spot Ethereum and futures contracts.

Ethereum’s price has risen 51% since the beginning of the year,
surpassing Bitcoin, which saw a 45% increase. Solana’s value,
known by the “SOL” ticker, increased by 754% over the past 12 months before Thursday’s gains, ranking fifth among digital assets.

 

 

 

 

 

Bitcoin ETFs in the U.S.

Since their listing in January, Bitcoin ETFs in the U.S. have attracted $14.5 billion in net inflows.
Analysts at “J.P. Morgan Chase” estimate that potential Ethereum portfolios could attract
between $1 billion (in modest estimates) and $3 billion in net inflows during the remainder of 2024.

 

U.S. Authorities’ Stance on Cryptocurrencies

The SEC unexpectedly shifted its stance towards approving spot ETFs that track Ethereum prices after reluctantly allowing Bitcoin ETFs following a court ruling in 2023.

 

Ambiguity Around Ethereum’s Classification

While Bitcoin is viewed as a commodity, the SEC, chaired by Gary Gensler,
states that most other digital currencies are unregistered securities that should be subject to its regulation.
Gensler’s stance on Ethereum and whether it is considered a security remains ambiguous.

 

Solana Classified as Unregistered Securities

However, Solana is one of more than 12 currencies the SEC has classified in various lawsuits as unregistered securities.
This raises doubts about whether the regulator will allow the launch of ETFs tracking Solana.
VanEck’s application to launch an ETF does not guarantee SEC approval.

 

Performance of Cryptocurrencies in the Markets

Bitcoin’s price rose about 0.5%, trading at $61,700 at 12:10 PM on Friday in Singapore.

Ethereum’s price climbed to $3,453, while Solana’s price dropped 1.5% to $147.

 

 

Ether and Solana Overtake Bitcoin in Crypto Bets Amid ETF Hype

Ethereum Rises Amid SEC Investigations

Ethereum Rises Amid SEC Investigations: Ethereum (Ether) saw a significant increase amid speculation
that U.S. regulatory scrutiny of the blockchain system supporting the world’s second-largest digital asset might ease.
This rise also led Bitcoin and a range of smaller competing cryptocurrencies to record slight gains.

 

Contents

Performance of Ether and Its Value Increase

The Role of Ethereum Technology in the Market

Conclusion of Investigations

SEC Audits

 

 

 

Performance of Ether and Its Value Increase

Ether recorded its best rise this week, increasing by 3.6% on Wednesday before slightly retreating to trade at $3,562 as of 12:53 PM Singapore time.
This rise led Bitcoin, the market-leading cryptocurrency, and a range of smaller competing cryptocurrencies to record slight gains.


The Role of Ethereum Technology in the Market

Ether is used in the Ethereum blockchain, considered the most important network for financial services based on cryptocurrencies.
The U.S. Securities and Exchange Commission (SEC) investigation into the Ethereum Foundation highlighted
There is uncertainty about whether Ether is an unregistered security.
This status could reduce demand for the digital asset.

 

Conclusion of Investigations

In a post on platform X, Consensys, the leading developer of Ethereum, announced that
“the SEC’s Enforcement Division informed us that it will close its investigation into Ethereum 2.0.”
The company added that “the decision comes after we sent a letter on June 7 asking the SEC to confirm
that the approvals issued regarding the Ethereum exchange-traded fund in May,
which were based on considering the digital currency as a commodity, meaning that the SEC will close its investigation into Ethereum 2.0.”
The SEC did not immediately respond to a request for comment on Consensys’s claims,
noting that the request was sent outside official working hours.
Consensys had filed a lawsuit against the SEC in April to prevent Ethereum’s regulation.

 

 

 

SEC Audits

Last month, the SEC signed off on a proposal from platforms operated by Cboe Global Markets, Nasdaq,
and the New York Stock Exchange to list exchange-traded funds (ETFs) that invest directly in Ether.
Further approvals are still needed before applicants like BlackRock and Fidelity Investments can launch such products for the first time.
While Bitcoin is viewed as a commodity, the SEC says most other digital currencies are unregistered securities that should be subject to its oversight.
However, SEC Chairman Gary Gensler has been ambiguous about whether Ether is a security.
Cryptocurrency enthusiasts are concerned about the digital token and potential projects based on the Ethereum blockchain
being subject to the SEC’s strict and costly rules.
Bloomberg News reported in March that the SEC had sought information from companies
about their dealings with the Ethereum Foundation to review aspects of Ether.
The foundation’s website describes the organization as a nonprofit supporting Ethereum and related technologies.

 

Ethereum Rises Amid SEC Investigations

Bitcoin Price Hits One-Week Low Ahead of Inflation

Bitcoin Price Hits One-Week Low Ahead of Inflation and Interest Rate Data: The largest cryptocurrency dropped 2.5% to its lowest level in a week,
trading below $68,000 as of 12:42 PM Singapore time.
Smaller cryptocurrencies such as Ethereum and Dogecoin also declined.

Content

Details

 

 

Details

Bitcoin reached a record high of $73,798 in March, driven by investment inflows into U.S.-traded exchange-traded funds,
but has struggled to achieve new highs since then.
The inflation data and Federal Reserve expectations are scheduled for release on Wednesday
and may confirm fears that interest rates will remain high for longer,
creating an unfavorable environment for speculation on assets like cryptocurrencies.

Anand Gomes, co-founder of the derivatives platform “Paradigm,”
stated that “a lack of news is considered bad in cryptocurrency,
as the market constantly needs positive news to stay buoyant.
So, when there is no news, the market tends to decline.”

 

Bitcoin Price Hits One-Week Low Ahead of Inflation and Interest Rate Data