24/7 Cryptocurrency News
Cboe Moves to List Ethereum ETF Options
The Cboe BZX Exchange has proposed a rule change to enable options trading on spot Ethereum exchange-traded funds (ETFs). This move follows the rapid growth of Ethereum-based investment products and could lead to increased liquidity and price stability.
Analysts suggest that expanded derivatives trading could influence ETH price, driving it toward $4,000 in the coming weeks.
Cboe Proposes Rule Change for Ethereum ETF Options
In a recent filing, the Cboe BZX Exchange submitted a proposal to amend Rule 19.3. The amendment would allow the exchange to list and trade options on spot Ethereum ETFs. The filing specifically mentions the Bitwise Ethereum ETF, the Grayscale Ethereum Trust, and the Grayscale Ethereum Mini Trust. It also extends to any trust that holds ether.
The proposal follows a similar filing by NYSE American, which is currently awaiting approval from the U.S. Securities and Exchange Commission (SEC). If approved, Ethereum ETF options trading could become a new financial tool for investors, similar to the options available for spot Bitcoin ETFs since November 2024.
The Cboe BZX filing stated,
“Offering options on the Ethereum Funds will benefit investors by providing them with an additional, relatively lower cost investing tool to gain exposure to spot ether as well as a hedging vehicle to meet their investment needs in connection with ether products.”
More so, the crypto ETF industry has been growing rapidly. Notably, last week, the US SEC granted accelerated approval for the dual Bitcoin and Ethereum Bitwise ETFs. This decision marks a significant step in expanding regulated crypto investment options. However, the ETF still requires S-1 registration approval before trading can begin.
Ethereum ETFs See Record Trading Volume
Ethereum ETFs have experienced growing investor interest since their launch in July 2024. On Monday, the nine spot Ethereum ETFs recorded a total trading volume of $1.5 billion. This surpassed the previous record of $1.22 billion set on December 19. The surge in activity came during a broader crypto market decline.
The increased trading volume reflects heightened institutional interest in Ethereum-based products. It also signals a growing demand for exposure to Ethereum through regulated investment vehicles. The Cboe’s proposal for options trading could further increase market activity by providing additional hedging and investment strategies.
Options Trading Could Boost Liquidity
The introduction of options trading on Ethereum ETFs may lead to greater liquidity in the market. Options allow investors to hedge their positions and manage risk, making them a valuable tool for institutional traders. Increased derivatives trading could also reduce price volatility over time by improving price discovery mechanisms.
Options on spot Bitcoin ETFs have been available since November 2024. Their launch provided institutional investors with additional exposure to Bitcoin while offering retail traders new opportunities.
If Ethereum ETF options gain approval, they will follow a similar path, contributing to Ethereum price rally.
Ethereum Price Action and Potential for $4,000 Target
Ethereum is currently trading at approximately $2,741, with a 24-hour trading volume of $38.8 billion. Crypto analysts have suggested that Ethereum could reach $4,000 in the coming weeks, citing increased ETF inflows and broader adoption.
The potential approval of Ethereum ETF options could further strengthen ETH price market momentum.
However, a recent CoinGape analysis highlighted the importance of reclaiming the $2,800 level for Ethereum to maintain its bullish outlook. Failing to do so could trigger increased selling pressure, pushing ETH into a deeper bearish trend.
Ronny Mugendi
Ronny Mugendi is a seasoned crypto journalist with four years of professional experience, having contributed significantly to various media outlets on cryptocurrency trends and technologies. With over 4000 published articles across various media outlets, he aims to inform, educate and introduce more people to the Blockchain and DeFi world. Outside of his journalism career, Ronny enjoys the thrill of bike riding, exploring new trails and landscapes.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Source link
Cardano (ADA) continues to show signs of recovery, with whales significantly accumulating the token. Recently, whale addresses holding between 100 million and 1 billion ADA have purchased over 240 million ADA, worth approximately $175 million. This surge in whale activity suggests confidence in Cardano’s next performance, and the next key price target for ADA could be $0.85.
Whale Activity Supports ADA Price Recovery
Whales have been playing a significant role in the recent price movement of Cardano. In the last one week, the number of whale addresses is on a rise, and they have been accumulating ADA by buying it at higher volumes at a cheaper price. Such a move by the large investors means they have confidence in the asset in the long-run and an expectation of a change in trend, in this case a positive one.
The 240 million ADA purchased by whales serves as a strong indicator that large investors are positioning themselves for a future price increase.
Concurrently, based on the Mean Coin Age, long-term holders have not been selling the ADA tokens therefore they do not consider it a dump asset but rather a token with a massive rally potential. This could help contain the price support for ADA at higher levels and avoid sharp declines in the near term.
Cardano Price Struggles to Break Resistance
Nevertheless, the bullish indications from whale accumulation have been met with a pushback at $0.77 in price. In the previous weeks, ADA price has not managed to trade beyond this level, therefore, it cannot be considered a full recovery. Therefore, the $0.77 area represents the key level that will determine the formation of an uptrend since crossing a price higher than this level will unlock further buy signals.
There is a lack of consistent buying pressure in Cardano’s recent price action that hasn’t allowed ADA to break past significant resistance levels. However, the support from whales and long-term holders may help ADA price to avoid this situation. At press time, Cardano price was trading at $0.7476, a 1.20% rally from the intraday support of $0.7222.
If ADA price can cross above $0.77 then the next level of significant resistance may be $0.85 in order to pump for another round of higher price action.
Will ADA Price Soar To $5? Analyst Weighs In
Crypto analyst Javon Marks suggests that in accordance with the prior cycles it is possible to see the next move of ADA price towards the first level of the 1.272 Fibonacci extension, which in this case is $5.36. This target would signify over 6.8 times increase from the current position and more than 585% increase in the price rally.
In the shorter term, the 1.272 Fibonacci extension of the current base suggests a target of approximately $3.95. This target is in line with other past bullish runs that Cardano has exhibited where most of the movements occur after the formation of consolidation patterns.
Moreover, according to crypto analyst LLuciano_BTC, the Cardano price is showing signs of a bullish flag breakout after a period of consolidation. If the ADA price breaks above the descending resistance with strong volume, it could trigger a significant upside move, potentially toward $1.80.
Kelvin Munene Murithi
Kelvin is a distinguished writer with expertise in crypto and finance, holding a Bachelor’s degree in Actuarial Science. Known for his incisive analysis and insightful content, he possesses a strong command of English and excels in conducting thorough research and delivering timely cryptocurrency market updates.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Source link
XRP price has traded near the flatline today, consolidating near the $2.4 mark, but experts remained bullish on the future trajectory of the coin. In a recent analysis, a top expert has set a “conservative” target of $15 for Ripple’s native asset, sparking market discussions. Besides, it also comes amid market optimism over a potential resolution in the Ripple Vs SEC case end, which has long dampened the broader market sentiment.
XRP Price Fails To Breakout Despite Market Optimism
XRP price was down about 0.7% today at $2.43 after touching a 24-hour high and low of $2.50 and $2.41, respectively. Notably, the crypto has been consolidating in this range over the past few weeks despite soaring market optimism over Ripple’s legal win.
For context, CEO Brad Garlinghouse recently shared key insights on the firm’s future. Besides, he also said that the US SEC would drop the Ripple Vs SEC case. This has caught the eyes of the market participants, but it appears that the news has failed to boost the prices. However, with soaring optimism, the market pundits anticipate a potential breakout ahead for the crypto.
Expert Eyes XRP Rally To $15
In a recent analysis shared on X, renowned expert EGRAG CRYPTO has set a “conservative” price target for XRP at $15. This prediction is part of a tiered target system, which also includes a “normal measurement” of $22, an “extended target” of $44, and a “personal target” of $27.
The conservative target of $15 suggests that the expert believes, based on the technical trends, that the XRP price has significant growth potential. Even in a more cautious market scenario, it can record a massive rally ahead.
In addition to the price targets, EGRAG CRYPTO also emphasized the importance of taking profits strategically. The expert advised investors to start taking profits rather than waiting for a single peak, citing the wisdom of securing profits to avoid potential losses.
A Closer Look Into The Future Potential
In response to a user’s inquiry about XRP price in the next bear market, EGRAG CRYPTO reassured investors that the price is unlikely to drop below $1. This prediction suggests that Ripple’s native asset has a strong foundation and is poised for long-term growth, even in the face of market volatility.
Echoing a similar sentiment, another expert Dark Defender also hinted towards a short-term rally ahead for the crypto. In a recent X post, Dark Defender said that XRP must breach the $2.75 level to continue its upward run ahead.
He also noted that it faces “little hassle” at $2.55 and strong support at $2.42. However, once $2.75 is breached, the Dark Defender said that Ripple’s coin will target the $5.85 in the near term. It also resembles the latest Ripple coin price analysis, which indicates a potential rally to $5 citing the recent market trends.
Rupam Roy
Rupam is a seasoned professional with three years of experience in the financial market, where he has developed a reputation as a meticulous research analyst and insightful journalist. He thrives on exploring the dynamic nuances of the financial landscape. Currently serving as a sub-editor at Coingape, Rupam’s expertise extends beyond conventional boundaries. His role involves breaking stories, analyzing AI-related developments, providing real-time updates on the crypto market, and presenting insightful economic news.
Rupam’s career is characterized by a deep passion for unraveling the complexities of finance and delivering impactful stories that resonate with a diverse audience.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Source link
24/7 Cryptocurrency News
Is Ethena Price At Risk? Trump’s World Liberty Financial Sells 184K ENA Sparking Concerns
Despite Ethena price extending weekly gains to over 7% this Tuesday, Donald Trump’s World Liberty Financial has rattled the crypto market with its ENA selloff spree. On-chain statistics indicated that Trump’s World Liberty sold a whopping 184,000 tokens intraday, reverberating a bearish sentiment among crypto traders and investors globally.
In the wake of massive token unlocks and a dump by a market maker previously, the synthetic dollar protocol built on Ethereum already remains subject to volatility. Now, market watchers bearishly speculate over the asset’s future trajectory due to rising selling pressure.
Is Ethena Price Bracing For Heat Amid Trump’s World Liberty’s Selloff?
Usual market sentiments remain highly negative in light of heightened selling pressure on cryptocurrencies. The latest data from Arkham Intelligence indicated that World Liberty Financial sold 184,000 ENA for $69K over the past day. This selloff chronicle sparked concerns over Ethena price action’s long-term prospects, underlining a spike in selling pressure and WLFI’s loss of interest in the asset amid broader trends.
Notably, the Trump family-backed firm purchased 11 tokens earlier, including the one mentioned above, via its WLFI sale funds. Intriguingly, since most of these assets were soon shifted to Coinbase Prime, the market had an unclear view of selloff transactions.
However, a part of ENA holdings was transferred to the ‘0x76a’ custodial wallet address. This wallet address shifted 180,000 tokens to the address ‘0x77a.’ Subsequently, this address then sold the amount received for WBTC, per the data.
Overall, this transactional process gained significant traction, whilst market watchers speculate whether further token selloffs are also incoming. The synthetic dollar protocol on Ethereum remains bearishly eyed by investors, attributed to this saga.
Factors Fueling More Heat For Ethena Price
Simultaneously, a couple of other aspects propel an unsure investor sentiment about future price movements. CoinGape reported that the market maker Amber Group recently offloaded $10 million ENA to Binance. The rising exchange supply solidified bearish market sentiments over the asset’s future potential.
On the other hand, recent ENA token unlocks have also ushered in price volatility. While March saw over 2 billion coins unlocked and added to the crypto’s supply, April comes as another hurdle. Reportedly, over 200 million coins are set to unlock on April 2 and 5 collectively. In turn, traders and investors remain cautious over future Ethena price movements.
It’s noteworthy that World Liberty Financial’s massive selloff potentially aligns with the past and looming unlocks in an effort to mitigate losses.
What’s Next?
As of press time, ENA price witnessed a nearly 1% jump in value, reaching $0.3989. The crypto hit a low and a peak of $0.3883 and $0.4098 intraday. Despite the selloffs and massive token unlocks, the weekly chart showed a 7% upswing, underling a resilient movement. However, the monthly chart showed a 10% slump, adding to speculations.
Crypto market traders are currently uncertain about the asset’s performance ahead as broader trends indicate that volatility looms, whilst the price chart shows resilience. Besides, Ethena price prediction by CoinGape shows that bears remain dominant, as per the 3-month bias indicator. Nevertheless, renowned market trader Byzantine General took to X, projecting an optimistic outlook for the synthetic dollar protocol crypto.
The trader revealed that the crypto’s funding rate isn’t negative anymore, suggesting a bullish movement looms. Further, ENA got heavily shorted primarily due to its massive token unlocks, but the heat has now cooled down, per the analyst. Nevertheless, despite positive reaffirmation by renowned traders, it remains vital to gauge in broader aspects that underscore volatility is possible.
Coingape Staff
CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Source link
XRP Price Struggles at Key Resistance—Can Bulls Force a Breakout?
Bitcoin, Ethereum to end Q1 in the red, ‘vertical swing up’ unlikely
Bitcoin Correction to $76,000 Likely a Downside Deviation, According to Crypto Analyst – Here’s Why
GameStop Approves Adding Bitcoin To Treasury Reserves
Cboe Exchange Submits Filing to List Fidelity Solana ETF
How Strategy is Redefining Corporate Leverage?
Tokenized Treasuries Hit $5B Milestone as Fidelity Investments Touts RWA Potential as Collateral
Cardano Price Eyes $0.85 as Whales Scoop Up 240 Million ADA
Dogecoin Price Mirroring This 2017 Pattern Suggests That A Rise To $4 Could Happen
SEC closes investigation into Immutable nearly 5 months after Wells notice
Solana Rises As BlackRock Brings Its $1,700,000,000 Tokenized Treasury Fund to Ethereum Rival’s Chain
BlackRock Launches Bitcoin ETP In Europe
Crypto holds on to Gains, US may reverse Biden BTC sales, Tesla leads bounce
Cardano price could surge to $2 as whale purchases rise
Bitcoin Cash (BCH) Falls 1.9%, Leading Index Lower
24/7 Cryptocurrency News5 months agoArthur Hayes, Murad’s Prediction For Meme Coins, AI & DeFi Coins For 2025
Bitcoin2 months agoExpert Sees Bitcoin Dipping To $50K While Bullish Signs Persist
24/7 Cryptocurrency News3 months agoAptos Leverages Chainlink To Enhance Scalability and Data Access
Bitcoin5 months agoBitcoin Could Rally to $80,000 on the Eve of US Elections
Altcoins2 months agoSonic Now ‘Golden Standard’ of Layer-2s After Scaling Transactions to 16,000+ per Second, Says Andre Cronje
Bitcoin4 months agoInstitutional Investors Go All In on Crypto as 57% Plan to Boost Allocations as Bull Run Heats Up, Sygnum Survey Reveals
Opinion5 months agoCrypto’s Big Trump Gamble Is Risky
Price analysis5 months agoRipple-SEC Case Ends, But These 3 Rivals Could Jump 500x
✓ Share: