Author: Sollcrypto
Cryptocurrencies and non-fungible tokens (NFTs) share a deep connection. During their initial stages, the NFT market was essentially a subsidiary of the broader cryptocurrency realm, operating on a smaller scale and significantly influenced by the trends and movements within the cryptocurrency market. Over time, the NFT landscape has undergone substantial evolution. What once started as a niche market has grown tremendously, capturing mainstream attention in 2021, driven in part by celebrity endorsements. Notable collections like the Bored Ape Yacht Club transcended into popular culture, symbolizing status and prestige. As a result, the relationship between NFTs and cryptocurrencies has become more…
Convergence RFQ, an upcoming trading platform based on Solana, has secured $2.5 million in a pre-seed funding round. The funding round was led by C² Ventures and included participation from notable entities such as Big Brain Holdings, Israel Blockchain Association, Auros Global, among others, according to an announcement by Convergence RFQ. The startup initiated its pre-seed fundraising efforts midway through the previous year and successfully concluded it in June of this year, as revealed by co-founder Uwe Cerron. This funding round took the form of a simple agreement for a future token round, with a fully diluted valuation of $30…
Ethereum’s value retraced its gains, revisiting the $1,580 mark against the US dollar. If it fails to hold above the $1,600 support, ETH may see further downside. Ethereum initiated a new downtrend, breaching the $1,650 support level.Currently, the price is trading below both $1,665 and the 100-hourly Simple Moving Average.On the hourly chart of ETH/USD (data feed via Kraken), a significant bearish trend line is forming, with resistance around $1,645.To regain momentum, the pair needs to surmount the obstacles at $1,650 and $1,665. If successful, it could initiate a fresh upward movement. Ethereum’s Value Returns to Test Support Levels Ethereum’s…
The worldwide blockchain finance market, covering public and private blockchains, trading, payments, settlements, and asset management, is poised for substantial growth, expected to reach a valuation of $79.3 billion by 2032. According to a report from Allied Market Research, participants in the blockchain finance sector are actively exploring collaborations and acquisitions as a primary strategy. The disruptions caused by the COVID-19 pandemic in traditional finance, combined with the potential for operational cost reduction, have paved the way for the widespread adoption of the digital ecosystem. The public blockchain sub-sector holds the majority of the market share. This information is sourced…
Cryptocurrencies and non-fungible tokens (NFTs) share a deep connection. In their early stages, the NFT market operated as a subordinate within the larger cryptocurrency domain, and its limited scale made it highly susceptible to the fluctuations and trends of the cryptocurrency market. Over time, the NFT landscape has undergone significant transformation. What was once a fledgling market confined to a niche rapidly expanded into mainstream consciousness in 2021, driven in part by endorsements from celebrities. Collections like the Bored Ape Yacht Club infiltrated popular culture, becoming symbols of status and prestige. This evolution has led to a more intricate relationship…
TMX Group, the largest Canadian exchange, announced on Tuesday that its derivatives trading platform is set to introduce Bitcoin (BTC) futures contracts. In an announcement posted on the company’s website, the Montréal Exchange (MX) revealed its plans to launch Bitcoin Price Index Futures to meet the growing market demand for digital cryptocurrency asset classes. The announcement stated, “Despite the increasing interest, investors often encounter limitations when seeking vehicles to manage their exposure to bitcoin price fluctuations.” These futures will be cash-settled in U.S. dollars, meaning that settlement involves the exchange of dollars rather than the underlying asset (in this case,…
StarkWare, the developer behind Ethereum Layer 2, has extended the timeline for the initial release of its native StarkNet (STRK) tokens by more than five months. As per data from Etherscan, the new release date is now April 15, 2024, a shift from the previously set date of November 29, 2023. In response to this delay, a spokesperson from StarkWare stated, “Our primary focus is on advancing the technology. We are adjusting the roadmap as necessary, which includes revising the lockup schedule.” The exact number of tokens impacted by this postponement remains unclear. The total supply of STRK tokens stands…
Bitcoin’s price continued its ascent, reaching the $28,500 resistance level. However, it underwent a correction and is presently maintaining a crucial support level at $27,350. BTC extended its upward trajectory, surpassing both the $28,000 and $28,200 resistance thresholds.The price is currently trading above $27,400 and remains above the 100-hourly Simple Moving Average.On the hourly chart of the BTC/USD pair, a significant bullish trend line is taking shape, offering support near $27,400 (data sourced from Kraken).Unless there is a breach of the $26,650 support, the pair could initiate another upward move. The Bitcoin price continues to find support. The Bitcoin price…
The launch of nine new Ethereum futures exchange-traded funds (ETFs) generated considerable excitement, but it seems that this enthusiasm did not translate into substantial investments. On October 2nd, these nine ETF products, designed to mirror the performance of Ethereum’s native cryptocurrency, Ether (ETH), made their debut in the market. Among these funds, only five are dedicated solely to Ether futures, while the remaining four combine Bitcoin and ETH futures contracts in their portfolios. Eric Balchunas, a senior ETF analyst at Bloomberg, shared his perspective on October 2nd, describing the day’s trading volume as rather unremarkable, stating, “It was a pretty…
Coinbase, the cryptocurrency exchange operator, has been officially granted a significant regulatory license in Singapore. The Monetary Authority of Singapore has awarded the company a Major Payment Institution license, following an initial in-principle approval granted late last year, as announced today. This development comes amid an ongoing contentious relationship between Coinbase and regulators in its home market, the United States. In June, the U.S. Securities and Exchange Commission filed a lawsuit against the company, alleging that it operated as an unregistered broker and exchange, thereby violating federal securities laws. Hassan Ahmed, Coinbase Singapore’s country director, expressed, “This license underscores our…