Kategorie: Crypto News

Daily crypto headlines and news about bitcoin, ether, ripple, solana, altcoins, nft, market, business, analysis, nft, metaverse, minting and mining.
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Ethereum pumps after Ark Invest and 21Shares’ spot Ethereum ETF application amendment

  • ETH price surged post-Ark Invest, 21Shares ETF amendment.
  • Amendment aligns spot ETH ETF with cash creation and redemption model akin to spot Bitcoin ETFs.
  • The introduction of ETH staking in amended filing remains uncertain pending regulatory approval.

Ethereum’s native token, ether (ETH), experienced a surge in price, reaching $2,457 before retracing to the current price of $2,424, after news of amendments to the joint spot Ethereum exchange-traded fund (ETF) application by Ark Invest and 21Shares.

Ethereum (ETH) price chart

 

The news was another positive development for the Ethereum ecosystem after the Dencun upgrade was successfully deployed on the Holesky testnet.

Amendment to spot Ethereum ETF application

Ark Invest and 21Shares filed an amendment to their joint application for a spot Ethereum ETF, signalling significant updates in their approach.

The amended S-1 filing introduces a cash creation and redemption policy, mirroring the structure of recently approved spot Bitcoin ETFs. This adjustment aims to streamline the creation process, with authorized participants restricted to cash creations and redemptions, excluding in-kind transactions involving ETH.

The move aligns with regulatory expectations and operational efficiency, reflecting the SEC’s preference for cash-based methods seen in spot Bitcoin ETF approvals.

Additionally, the amended filing introduces the possibility of Ethereum staking, with plans to stake ether tokens from the Trust’s Cold Vault Balance. Staking could potentially generate rewards, treated as income, although it carries a risk of loss. However, uncertainty looms over the inclusion of staking in the final proposal, as indicated by bracketed sections in the filing. Bloomberg ETF analyst James Seyffart remains sceptical, suggesting that the SEC might not permit staking in spot Ethereum ETFs.

Market reaction and expectations

The news of Ark Invest and 21Shares amending their spot Ethereum ETF application has stirred mixed reactions among investors and industry observers. While it marks a positive development for spot Ethereum ETFs, expectations regarding approval vary.

With the SEC’s deadline looming on May 23 for a decision on a spot Ethereum ETF, analysts differ in their predictions. Polymarket reports 43% odds of a May approval, while Seyffart suggests a 60% chance. Standard Chartered Bank is very positive of an approval in May, contrasting with TD Cowen’s expectation of no approval in 2024.

Despite the uncertainty surrounding regulatory approval, Ethereum’s price surge indicates investor optimism and interest in the potential launch of a spot Ethereum ETF. Stakeholders eagerly await further developments in the ETH ETF space, closely monitoring regulatory decisions and industry dynamics.

The post Ethereum pumps after Ark Invest and 21Shares’ spot Ethereum ETF application amendment appeared first on CoinJournal.

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Montenegro Court of Appeal revokes Do Kwon’s extradition again

  • Montenegro Court revokes Do Kwon’s extradition, citing procedural violations.
  • Former Terra CFO Han Chang-joon extradited to South Korea after Montenegro sentence.
  • US SEC trial postponed, hinting at legal manoeuvres amidst extradition proceedings.

In a significant turn of events, the Court of Appeals in Montenegro has revoked the decision to extradite Do Kwon, the co-founder of Terra, to South Korea and the United States. This decision follows a series of legal battles and extradition attempts stemming from charges related to the collapse of Terra’s stablecoin. It follows a similar decision by the Appellate Court of Montenegro in November 2023 before the Montenegrin High Court upheld Do Kown’s extradition request for a second time in December.

Meanwhile, Kwon’s former CFO, Han Chang-joon, has been extradited to South Korea, facing potential life imprisonment.

Extraditing Do Kwon incomprehensible

In granting Do Kwon’s second appeal against extradition the Court of Appeal cited significant violations of criminal procedure provisions. The appellate court ruled that the decision to extradite Kwon was incomprehensible and failed to properly handle extradition requests from South Korea and the United States.

The appellate court clarified that extradition decisions should be made by the courts, not the Minister of Justice, as per the Law on International Legal Assistance in Criminal Matters. This decision marks a crucial development in Kwon’s fight against extradition, providing hope for a fair trial and due process.

The case has now been returned to the court of first instance for retrial, indicating a potential reprieve for Kwon in his legal battle.

Former Terra CFO extradited to South Korea

While Kwon’s extradition battle continues, his former CFO, Han Chang-joon, has been extradited to South Korea after serving a prison sentence in Montenegro. 

Chang-joon, arrested alongside Kwon in March 2023 while attempting to leave the country, now faces potential life imprisonment in South Korea. His extradition underscores the severity of the legal consequences tied to the Terra-LUNA crisis, which rocked the crypto market with a staggering $60 billion collapse.

In parallel, the postponement of the civil trial brought by the US Securities and Exchange Commission (SEC) against Terraform Labs and Kwon hints at ongoing legal manoeuvres. The delay is likely aimed at facilitating Kwon’s extradition from Montenegro, signalling the complex interplay between legal jurisdictions and regulatory actions.

As Do Kwon’s extradition battle unfolds, the outcome remains uncertain. However, these recent developments underscore the high stakes involved for Kwon, Terra and the broader cryptocurrency industry amidst heightened regulatory scrutiny and legal challenges.

The post Montenegro Court of Appeal revokes Do Kwon’s extradition again appeared first on CoinJournal.

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Ronin Outpaces Solana to Grab Top 3 Daily Active Users; This GameFi Token Will Dominate Industry

If you’re tuned into the crypto scene, you might have heard the buzz surrounding Ronin lately. Ronin has surged ahead, surpassing Solana to claim a spot in the top three for daily active users. Meanwhile, Galaxy Fox is emerging as a formidable contender in the GameFi space, poised to dominate the industry with its innovative approach. 

Let’s delve deeper into these exciting developments and explore why Galaxy Fox is considered one of the best ICO by many, presenting an unparalleled investment opportunity this year. 

Ronin Outpaces Solana to Grab Top 3 Position of Daily Active Users

Ronin is making waves in the cryptocurrency world, swiftly outpacing Solana to secure a coveted spot in the top three list for daily active users. Just recently, Binance announced the listing of $RON trading pairs, sending excitement rippling through the community. The surge in interest saw $RON hitting highs of around $3.51, nearing its previous peak of $4.29 back in January 2022.

The surge in activity of this good crypto to buy coincided with a significant uptick in daily active users on the Ethereum sidechain, specifically tailored for gaming purposes. However, the initial excitement was short-lived as profit-taking ensued, causing $RON’s price to retreat by nearly 20% within hours. Despite this, the Ronin Network remains a pivotal player in the blockchain gaming sphere and much of the lost ground has already been regained.

Designed by Sky Mavis, the creators of the immensely popular Axie Infinity, the Ronin Network was crafted to address the scalability issues plaguing gaming applications on traditional blockchains like Ethereum. Through a hybrid Proof-of-Authority and Delegated Proof-of-Stake consensus model, Ronin ensures rapid validation of transactions while upholding decentralization principles.

What sets Ronin apart is its singular focus on meeting the demands of high-volume gaming applications. In 2021 alone, Ronin processed a staggering 15% of all NFT trading volume, showcasing its prowess in handling the needs of gaming ecosystems.

$GFOX: The GameFi Token That Will Dominate the Industry 

Galaxy Fox is a rising star in the world of cryptocurrencies, securing a spot in the best upcoming ICO list of many investors and analysts. Unlike traditional meme coins that offer little beyond hype, Galaxy Fox blends GameFi elements with a playful nod to meme culture, creating a unique and enticing investment opportunity.

Galaxy Fox breathes new life into the meme ecosystem by introducing innovative features that combine gaming with financial incentives. With a Web3 endless runner game backed by NFTs already in place, the project plans to expand its gaming offerings in the future, promising a diverse and engaging experience for users.

But Galaxy Fox isn’t just about fun and games—it’s also a sound investment. With a 6% buy-and-sell tax policy, revenues generated from transactions are used to fund staking rewards and maintain a marketplace for trading the coolest NFT assets and digital items. This ensures a steady flow of funds to support the project’s development and reward its community members.

As Galaxy Fox gears up for its next presale stage, now might be the perfect time to get involved, as the current stage offers $GFOX at a discounted rate of $0.00198. With over $3.2 million already raised and 98% of the tokens for Stage 7 already sold, things are heating up fast. Don’t miss out on this opportunity to join a project poised for success in the burgeoning GameFi space.

Conclusion

Galaxy Fox stands as a beacon of innovation in the world of the best upcoming ICO, offering both entertainment and financial opportunities. With its unique blend of GameFi elements and meme culture, it’s primed to dominate the industry in the coming years. Visit Galaxy Fox’s website and join their community via Telegram to learn more and get involved in this exciting project.

Learn more about $GFOX here:

Visit Galaxy Fox Presale | Join the Community

The post Ronin Outpaces Solana to Grab Top 3 Daily Active Users; This GameFi Token Will Dominate Industry appeared first on CoinJournal.

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Cardano’s ADA plots bullish patterns amid 25% Altsignals ASI staking rewards

  • 28,989,117 out of 30,000,000 ASI tokens have been staked in the 25% staking reward program.
  • The ASI token grants holders Lifetime memberships, AI Members Club, and community-led governance within the AltSignals ecosystem.
  • Cardano (ADA) plots a descending triangle pattern.

In a groundbreaking move, AltSignals, a prominent player in the trading signals arena since 2017, is revolutionizing its services with the ASI token and ActualizeAI. The ASI token’s presale success and the ongoing ASI staking program have garnered attention, promising exclusive access to cutting-edge AI-driven insights.

At the same time, Cardano’s ADA is catching the spotlight, forming bullish patterns that could lead to a 32% rally. Let’s delve into these developments shaping the future of trading.

AltSignals (ASI) token and the ActualizeAI Ecosystem

At the heart of AltSignals’ AI project is the ASI token, which beyond its role as a financial asset, unlocks a world of exclusive benefits within the AltSignals AI Ecosystem.

Investors holding 50,000 tokens or more gain lifetime membership, securing access to both ActualizeAI and the existing AltAlgo signals service.

For ASI token holders, the AI Members Club presents a unique opportunity. It serves as a forum where members contribute ideas, actively participating in the development of new products. This community-led governance ensures that AltSignals stays true to its ethos and continues delivering valuable products vetted by real traders.

AltSignals’s 2024 roadmap

The roadmap for 2024 outlines AltSignals’ strategic plan, emphasizing key milestones across each quarter.

The implementation of ActualizeAI introduces advanced features, leveraging machine learning, predictive modelling, NLP, sentiment analysis, and reinforcement learning. The goal is to enhance the accuracy of signals, with the initial algorithm using regressive pattern recognition to learn market dynamics.

ActualizeAI’s journey includes predictive modelling tests based on historical data, evolving from simple linear regression to more sophisticated models. Time series forecasting models are on the horizon, promising improved accuracy in predicting future asset prices.

AltSignals ASI staking program

AltSignals, with a proven track record and a thriving community of over 50,000 subscribers, has propelled itself into a new era of trading. The introduction of the ASI token and ActualizeAI signifies a strategic move towards enhanced accuracy and real-time analysis in trading signals.

The completion of AltSignals’ presale marked a significant milestone, raising an impressive $1.8 million.

Currently, AltSignals has opened an ASI staking pool with a 25% reward program with a 3-month staking period and 72-hour staking window. So far, 28,989,117 out of the 30,000,000 tokens have already been staked.

The staking program is open for the next 78 days. To participate, visit the official AltSignals Website.

Cardano (ADA): a potential 32% rally beckons

Cardano’s ADA has recently caught the attention of market analysts, particularly Ali Martinez, who identified a Descending Triangle setup on its daily chart. This bullish pattern, if sustained and ADA closes above $0.53, could trigger a parabolic surge with a target of $0.68 – a 32% potential rally.

Cardano stands out among protocols due to its robust ecosystem fundamentals. Real-world applications, such as the Cardano Light Wallet Lace, showcase its commitment to providing practical solutions.

With a dedicated community of developers consistently upgrading the blockchain, Cardano’s current upward trend might herald a significant growth phase.

Are AltSignals (ASI) and Cardano (ADA) good investments?

Considering AltSignals’ proven success and its strategic shift towards AI-driven trading, the ASI token and ActualizeAI present a compelling investment opportunity. The presale success, ongoing staking program, and innovative roadmap allude to a promising future for AltSignals.

On the other hand, Cardano’s ADA, with its strong ecosystem and bullish patterns, raises interest among investors. The potential 32% rally adds to the appeal.

Both AltSignals and Cardano offer unique propositions in their respective domains, attracting attention from traders seeking innovation and growth in the dynamic world of cryptocurrencies.

The post Cardano’s ADA plots bullish patterns amid 25% Altsignals ASI staking rewards appeared first on CoinJournal.

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Kaspa price surges 20%, Bitbot unveils revolutionary Telegram trading bot

  • Kaspa (KAS) price surges 20%, eyeing a $3 target amid bullish momentum and fair launch.
  • Bitbot unveils the world’s first Telegram self-custodial trading bot, empowering users.
  • BITBOT token presale offers a strategic investment opportunity.

In the dynamic world of cryptocurrency, Kaspa (KAS) and Bitbot are making waves with significant developments.

Kaspa, after a recent surge of 20%, stands at the forefront of altcoins, while Bitbot introduces the world’s first Telegram self-custodial trading bot, revolutionizing the way users trade in 2024.

Kaspa (KAS): riding the waves of price volatility

The recent fluctuations in Kaspa’s price have caught the attention of crypto enthusiasts. After trading in a closed range for weeks, KAS displayed a jump of 20%, reaching $0.1249.

KAS price chart

KAS reached an all-time high (ATH) of $0.154 on Nov 20, 2023, while its all-time low was $0.0001699, recorded on Jun 01, 2022. At its current price, the token is 71982.3% higher from its lowest point and only a few cents away from its ATH.

Analysts predict a potential surge to $3, citing the coin’s fair launch and the absence from major exchanges like Binance and Coinbase. As Kaspa tests its resistance level of $0.1242, the market awaits the outcome that could propel the coin to new heights.

Bitbot: Telegram bot pioneering self-custodial trading

Bitbot enters the scene as the world’s first Telegram self-custodial trading bot, offering users institutional-grade tools directly on the popular messaging platform.

With a focus on empowering retail investors, Bitbot ensures full custody of assets while providing tools like automated sniping, limit orders, and copy trading, typically reserved for institutional traders.

Integrating with self-custodial wallets and backed by KnightSafe security, Bitbot is poised to reshape how users engage in crypto trading.

BITBOT token presale

Bitbot’s presale, which kicked off a few weeks ago, unfolds as an intriguing investment opportunity. With a total supply of 1,000,000,000 tokens, the presale consists of 15 stages, each with varying token prices and allocations. Currently in Stage 3, the token’s price is $0.011, with the next stage set at $0.0116.

The project has raised $459,291 out of the $630,000 target, highlighting growing interest. Investors can anticipate exclusive benefits like revenue sharing, presale access, and governance influence through the $BITBOT token.

Are Kaspa and Bitbot good investments?

Investors eyeing Kaspa and Bitbot might find compelling reasons for consideration. Kaspa’s fair launch and potential exchange listings could drive a significant surge, as demonstrated by its previous listing on Coinone.

On the other hand, Bitbot’s unique features and self-custodial approach cater to both large and small-scale investors, promising a new era in crypto trading.

As with any investment, thorough research and risk assessment are advised, considering the market dynamics and individual preferences.

Conclusion

The dynamic developments in the cryptocurrency space continue to captivate investors and enthusiasts alike. Kaspa’s surge and Bitbot’s innovative approach to trading underscore the ever-evolving nature of the industry.

Whether you are eyeing Kaspa’s potential for significant gains or exploring the revolutionary features of Bitbot, the crypto landscape remains full of opportunities for those willing to navigate its twists and turns.

The post Kaspa price surges 20%, Bitbot unveils revolutionary Telegram trading bot appeared first on CoinJournal.