Key takeaways: Ether (ETH) has repeatedly failed to break above $2,700 since May 13, but despite this short-term weakness, Ether’s price has outperformed the broader cryptocurrency market capitalization by 17% over the past 30 days, raising the likelihood of a correction as macroeconomic uncertainty continues. Investors are concerned that declining interest in decentralized applications (DApps)…
Key points: Bitcoin’s bullish momentum has weakened, raising the chance of a correction to $100,000. Altcoins are likely to follow Bitcoin price and consolidate near their most immediate support levels. Bitcoin’s (BTC) failure to rise above $109,588 may have tempted short-term buyers to book profits. That has pulled the price under $104,000 on May 30….
Most investors in spot Ether exchange-traded funds from asset managers BlackRock and Fidelity Investments are facing significant losses, according to crypto analytics firm Glassnode. “The average investor in the BlackRock and Fidelity Ethereum ETFs are now substantially underwater on their position, holding an unrealized loss of approximately -21% on average,” Glassnode said in its May…
The Ethereum Foundation (EF) has borrowed $2 million in GHO, a decentralized stablecoin developed by Aave, in a move signaling deeper engagement with decentralized finance (DeFi) strategies. In a May 29 X post, Aave founder Stani Kulechov said the foundation borrowed $2 million in GHO tokens. “The EF is not only supplying ETH to Aave,…
Key takeaways: SOL/ETH has broken below a rising wedge pattern, signaling a potential 40% decline. Solana’s memecoin revenue has collapsed since April, weakening its core value proposition. Standard Chartered warns Solana may underperform as Ethereum’s L2 ecosystem grows more competitive. Solana’s (SOL) multiyear outperformance against Ethereum’s native token, Ether (ETH), is losing momentum, with technical…
Blockchain intelligence platform Bubblemaps has launched the public version of its v2 product, offering new tools to help users detect insider activity and prevent memecoin-related scams. Announced on May 29, Bubblemaps v2 follows a private beta testing period that attracted over 200,000 users. New features include “Magic Nodes,” which uncover hidden wallet connections among tokenholders,…
Key takeaways: 97% of ETH put options will expire worthless if ETH holds above $2,600. A bullish ETH price outcome could be limited by macroeconomic factors and trading strategies that cap Ether gains. On May 30, $2.4 billion in Ether (ETH) options will expire—an event that could support ETH’s attempt to break above the $2,700…
Key point: Bitcoin (BTC) remains pinned below the breakout level of $109,588, indicating that the bears are fiercely defending the level. Bitfinex analysts said in a market note that profit-taking generally follows after Bitcoin hits a new all-time high after a sharp rally. The report added that a mild retracement or consolidation would be healthy…
The Katana Foundation, a nonprofit focused on decentralized finance (DeFi) development, is launching its private mainnet, aiming to unlock greater crypto asset productivity via deeper liquidity and higher yields for users. The Katana Foundation launched a DeFi-optimized, private blockchain, Katana, on May 28, incubated by GSR Markets and Polygon Labs, with the public mainnet launch…
Key takeaways: SharpLink Gaming establishes the first ETH treasury, backed by Ethereum co-founder Joe Lubin. SharpLink will invest $425 million to acquire 120,000 ETH. Ethereum futures open interest hits an all-time high of $36.1 billion, with ETH price climbing 4.5% on the daily chart. Nasdaq-listed SharpLink Gaming (SBET) announced a $425 million private investment in…