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This altcoin nears the end of its five-month downtrend and could rally 40% soon

This altcoin nears the end of its five-month downtrend and could rally 40% soon

344704   September 30, 2023 20:21   FXStreet   Market News  


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  • Radiant Capital price is trading inside a falling wedge pattern.
  • This technical setup has triggered a breakout, and RDNT could rally soon.
  • A daily candlestick close below the $0.203 support level would invalidate the bullish thesis. 

Radiant Capital (RDNT) price has been on a downtrend for five months. A recent spike in buying pressure has caused RDNT to rally higher. 

Also read: Chainlink whales continue their accumulation spree after LINK’s 40% rally, why?

Radiant Capital price ready to move higher

Radiant Capital price has produced three distinctive lower lows and two lower lows. Connecting these swing points with trend lines reveals a falling wedge formation. A breakout from this setup could signal the start of the uptrend. 

On September 28, Radiant Capital price produced a daily candlestick close above the falling wedge’s upper trend line, signaling a breakout. This move was coupled with a flip of the Relative Strength Index (RSI) and Awesome Oscillator (AO) above their respective mean levels. 

The last time AO flipped positive, Radiant Capital price rallied 21% in the next 11 days. Hence, the recent uptick could catalyze a similar upswing. But despite the breakout, RDNT price needs to overcome the $0.250 hurdle. Doing so would open the path for a retest of $0.297 hurdle. 

In a highly bullish case, Radiant Capital price could eye a sweep of the $0.334 level for buy-stop liquidity. This move would amount to roughly 41% gain from the current position of $0.236. 

Read more: FTX exploiter moves $4 million worth of Ether after ten months of inactivity

RDNT/USDT 1-day chart

RDNT/USDT 1-day chart

On the other hand, a daily candlestick close below the $0.203 support level would create a lower low and invalidate the bullish thesis for Radiant Capital price. Such a development might even see RDNT revisit the September 11 swing low at $0.198.

Read more:  Radiant price shoots up by 15% following a $10 million investment from Binance Labs


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Chainlink whales continue their accumulation spree after LINK’s 40% rally, why?

Chainlink whales continue their accumulation spree after LINK’s 40% rally, why?

344700   September 30, 2023 17:33   FXStreet   Market News  


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  • LINK price has inflated by 40% in the under three weeks and shows no signs of stopping.
  • Chainlink whales holding 10,000 to 1,000,000 LINK continue to scoop LINK tokens.
  • The oracle token could see a potential drawdown if holders decide to cash out unrealized profits. 

Chainlink (LINK) price created a bottom in early September and triggered a massive rally that is still ongoing. There were signs of accumulation from whales before this uptrend kickstarted, but despite this extended rally, these investors are still scooping up LINK tokens. 

Also read: Chainlink and Australia’s ANZ Bank issue AUD-stablecoin to successfully test interoperability

Chainlink whales remain busy

Chainlink whales began adding LINK to their holdings on August 30. Specifically, the wallets holding 10,000 to 100,000 LINK started to swell. Quickly thereafter, wallets holding 100,000 to 1,000,000 LINK tokens followed suit. 

Between September 17 and September 30, the second cohort of whales’ holdings went from 78.3 million to 82.5 million LINK tokens, denoting a massive uptick in their accumulation. 

LINK Supply Distribution

LINK Supply Distribution

Read more: Chainlink price might face a correction before it can climb back to 2023 highs

While the Chainlink whales continue to accumulate for the long term, investors need to pay close attention to short-term holders. According to Santiment’s 30-day Market Value to Realized Value (MVRV) indicator, the profits of investors that purchased LINK in the last month are sitting at a 19% profit. 

Over the last year, LINK price has hit several dead ends when this indicator was in the 14% to 20% range. Since the short-term holders are sitting on unrealized profits, the chances of another drawdown are likely. 

While the pullback could be minor, investors need to be cautious of a sustained yet deep correction. 

LINK MVRV 30-day chart

LINK MVRV 30-day chart

LINK price has inflated by 40% in the last 18 days and shows no signs of slowing down. A continuation of the uptrend could see the altcoin eye a sweep of the $8.45 hurdle. In a highly bullish case, it could collect the buy-side liquidity resting above $9.64. 

LINK/USDT 1-day chart

LINK/USDT 1-day chart

But the short-term outlook as noted by the 30-day MVRV indicator, is flashing a potential sell signal. Therefore, traders need to be extremely cautious shorting LINK.

Also read: Chainlink outperforms altcoins in September with dwindling exchange supply


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FTX exploiter moves $4 million worth of Ether after ten months of inactivity

FTX exploiter moves $4 million worth of Ether after ten months of inactivity

344698   September 30, 2023 15:09   FXStreet   Market News  


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  • The FTX exploiter moved 2,500 ETH worth $4 million on September 30.
  • The entity has moved the stolen funds after nearly 10 months of inactivity.
  • The exploiter withdrew nearly $600 million worth of cryptos on November 11 before the FTX exchange went under. 

The now-defunct FTX exchange was exploited for nearly $600 million worth of cryptocurrencies on November 11. The stolen cryptos were sent to multiple wallets. On September 30, the exploiter moved nearly $4 million worth of Ether (ETH) after ten months of inactivity.

Also read: Bitcoin Cash price increase drums up good news for loyal BCH investors

FTX hacker moves stolen funds 

The exploiter, who is rumored to be an insider, moved 2,500 Ether (ETH) worth roughly $4 million in the early Asian session on September 30. The move from the bad actor seems well-timed, considering it occurred over the weekend when trading liquidity and volumes on exchanges are typically low, and the impact on crypto prices will be the highest. 

Transaction hash of exploiter’s recent move

Transaction hash of exploiter’s recent move

After the initial exploit on November 11, the hacker moved the stolen funds to 12 crypto wallets containing 15,000 ETH each. The funds moved today belong to one of these wallets containing 15,000 ETH.


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Bitcoin Cash price increase drums up good news for loyal BCH investors

Bitcoin Cash price increase drums up good news for loyal BCH investors

344695   September 30, 2023 14:45   FXStreet   Market News  


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  • Bitcoin Cash price shot up by over 12% in the past seven days, reclaiming the key support level of $231.
  • This increase added to the month’s rally, bringing the total rise to nearly 28% over the past months.
  • BCH investors hold a pretty optimistic outlook despite the lack of price uptick in August, visible in the growth moted in mid-term holders.

Bitcoin Cash price managed to make a good growth over the past 30 days, which is now translating into profits for the investors. BCH holders have maintained a bullish stance since July, which has kept selling to a minimum, contributing to the rise, which is benefitting them in turn.

Bitcoin Cash price nears two-month high

Bitcoin Cash price, trading at $234 at the time of writing, is set to test the support line at $229, following which a bounce back is expected. This is key for BCH to rally up to $253, which is currently acting as a barrier, breaching which would set the altcoin up for reaching beyond $300 to mark new 2023 highs.

Over the past week, the Bitcoin namesake has risen by more than 12%, which contributed to the increase observed in the past month. Up by 22% in this duration, the altcoin has managed to turn all three Exponential Moving Averages (EMAs) into support levels. The Relative Strength Index (RSI), too, is in the bullish zone above the neutral line at 50.0 but has not slipped into the overbought zone above 70.0. This is a bullish sign which suggests the rally might sustain and hold strength to continue further.

BCH/USD 1-day chart

BCH/USD 1-day chart

However, on the off chance that investors decide to book profits following this rise, Bitcoin Cash price could decline. Should it lose the support of $229, a fall to the 50-day EMA is likely, losing which would invalidate the bullish thesis and send BCH toward $182.

Selling is unlikely

Bitcoin Cash price dipping due to profit-taking has a much smaller chance of occurring than a decline due to broader market cues. The reason behind this is the optimism observed in BCH holders over the past couple of weeks. Their loyalty towards the altcoin has significantly contributed to the growth noted in the cryptocurrency’s price.

Looking at the distribution of BCH tokens according to time held, it can be observed that in July, nearly 26.5% of the entire circulating supply was held by short-term holders. These investors tend to hold their assets for less than a month. 

But starting in August, this concentration decreased, and mid-term holders (investors holding BCH between a month and a year) holdings increased. In the span of two months, this cohort’s BCH holding grew from 13% to 33% at the moment. Throughout September, their concentration did not note a decrease.

Bitcoin Cash supply distribution by time

Bitcoin Cash supply distribution by time

Thus, the short-term traders that matured into mid-term holders exhibit loyalty and bullishness, which is maintained can push Bitcoin Cash price even higher. Furthermore, their sentiment does not exude the willingness to sell, which will also prove beneficial for the altcoin.


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Fidelity and WisdomTree spot Bitcoin ETF decision likely confirmed to be delayed: Bloomberg analyst
Fidelity and WisdomTree spot Bitcoin ETF decision likely confirmed to be delayed: Bloomberg analyst

Fidelity and WisdomTree spot Bitcoin ETF decision likely confirmed to be delayed: Bloomberg analyst

344694   September 30, 2023 12:17   FXStreet   Market News  


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  • The spot Bitcoin ETF decision week continues to disappoint investors as Fidelity and WisdomTree’s approval will be delayed.
  • The SEC is holding out its stand against spot BTC ETFs despite the stern letter from US House FSC directing them to approve them.
  • On the other hand, VanEck announced it would be donating 10% of its Ethereum Futures ETF’s profits to ETH core contributors for ten years.

The past week has observed a slew of ETF applications being evaluated by the Securities and Exchange Commission (SEC). While Ethereum Futures ETFs are finding approval from the regulatory body, the case for spot Bitcoin ETFs continues to be the opposite. Joining the list of exchange-traded funds (ETFs) that may not see the light of the day soon is Fidelity.

Fidelity snubbed by the SEC

The spot Bitcoin ETF race is turning out to be less of a race and more of a sad marathon of continuous disappointing results. The SEC was set to provide its decisions on the spot Bitcoin ETF filings that multiple asset managers applied for in the past couple of months. However, things are not going as per expectations as the regulatory body has delayed its decision for the third time this week.

The newest members joining the list of companies that have been denied approval by the regulatory body are Fidelity and WisdomTree. Among some of the biggest asset management companies in the world, Fidelity is already a big name in the BTC Futures ETF. The company filed for a spot in Bitcoin ETF following BlackRock in Q2 this year.

However, akin to the rest of the applications, Fidelity’s application approval has also likely been delayed. According to Bloomberg ETF analyst James Seyffart, both Fidelity and WisdomTree would have to wait for a while before they can be evaluated by the SEC again.

Interestingly, no delay order for VanEck’s spot Bitcoin ETF has been issued yet, which is a positive sign. Though considering the outcome of the rest of the application, it would not be surprising if the SEC decided to delay the approval before the October 17 deadline.

VanEck makes a contribution to Ethereum

While VanEck’s BTC struggles will have to wait a while before coming to light, its Ethereum saga is going much better. The asset manager, which is set to launch its Ethereum Futures ETF soon, announced that it would be making a contribution to the Ethereum network by supporting the minds behind it.

The firm tweeted that for the next ten years, VanEck would be contributing 10% of its profits from Ethereum Futures ETF (EFUT)to the Protocol Guild. The Guild is the funding mechanism for an organization that is primarily made up of Etheruem core developers. These 150 contributions are key to maintaining the core protocol.

Read more – Ethereum Futures ETF to roll out by first week of October: Bloomberg ETF analyst


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Top 3 Price Prediction Bitcoin, Ethereum Ripple: BTC, ETH, XRP outlook ahead of weekend hush

Top 3 Price Prediction Bitcoin, Ethereum Ripple: BTC, ETH, XRP outlook ahead of weekend hush

344690   September 30, 2023 09:35   FXStreet   Market News  


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  • Bitcoin price is coiling up for the next move with a 5% slump to $25,856 likely amid falling momentum.
  • Ethereum price responds to ETH futures ETF hype, rises 5% in two days after a confirmed buy signal.
  • Ripple price at an inflection point, confronts the mean threshold at $0.5337 as XRP looks for directional bias.

Bitcoin (BTC) is leading the market into the weekend when the volumes of trade are expected to be lowest. Ethereum (ETH) and Ripple (XRP) prices have key obstacles to overcome to determine their next moves, with experts cautioning investors to remain vigilant lest they are caught in a fakeout. 

Also Read: Trader says Bitcoin and crypto markets need ‘chaos’ for price growth

Bitcoin price coils up for next move

Bitcoin (BTC) price is coiling up for the next move, with analysts saying a recovery rally could turn out to be a bull trap in disguise. Meanwhile, momentum indicators such as the Relative Strength Index (RSI) point to an impending slump as momentum continues to fade. With this outlook, BTC could fall to the demand zone at $25,856, marking a 3% slump.

A break and close below the midline of the demand zone at $25,394 could extrapolate the losses, potentially sending Bitcoin price below $24,940.

The RSI is dropping while the Awesome Oscillator (AO) histograms are edging towards the negative zone, pointing to bears having their say. Furthermore, the RSI is about to activate a sell signal as it draws near the signal line (yellow band) a crossover to the downside could trigger seller momentum to drive Bitcoin price south.  

BTC/USDT 1-day chart

On the other hand, increased buying pressure could send Bitcoin price north, overcoming the 100-day EMA at $27,316. In a highly bullish case, the gains could see BTC tag the $28,113 resistance level. The position of the AO in the positive territory shows bulls still have a fighting chance.

Also Read: Bitcoin Weekly Forecast: BTC recovery rally could be bull trap in disguise, here’s why

Ethereum price clears the $1,648 hurdle  

Ethereum price has outperformed Bitcoin, rising more than 5% to flip the $1,648 resistance level to a support floor. The move came after the RSI activated a bullish call as indicated in a previous article. With this momentum indicator still northbound and the AO soaked in green, ETH could continue rising.

A solid move above the 50-day EMA at $1,666 would clear the way for an extrapolation to the 100- and 200- day EMAs at $1,718 and $1,734 levels respectively before the largest altcoin by market capitalization can have a shot at the $1,861 range high.  

ETH/USDT 1-day chart

On the flipside, early profit taking could cut the rally short, with the ensuing selling pressure likely to cut down all the ground covered. This could see Ethereum price fall 6% to test the $1,552 support level, or worse, extend to collect the sell-side liquidity residing underneath.

Also Read: Ethereum Futures ETF to roll out by first week of October: Bloomberg ETF analyst

Ripple price at an inflection point

Ripple (XRP) price is at a crossroads, confronting the mean threshold of a bearish order block (supply zone) at $0.5337. Breaking and closing above it will confirm a continuation, while a rejection could steer a downtrend.

From a technical standpoint, the odds favor the upside, with the RSI inclined north, at 60, with more ground to cover before reaching the overbought territory. Increased buying pressure could therefore see Ripple price tag the $0.6098 resistance level, last tested around mid-August.

XRP/USDT 1-day chart

Conversely, a rejection from $0.5337 could send Ripple price out from below the supply zone at $0.5145, or lower to tag the $0.4622 level. In a dire case, the downtrend could send XRP to the range low at $0.4191. This would constitute a 20% slump.

Also Read: Ripple and Coinbase lead the big fight as US crypto firms advocate for regulatory overhaul

Ethereum FAQs

Ethereum is a decentralized open-source blockchain with smart contracts functionality. Serving as the basal network for the Ether (ETH) cryptocurrency, it is the second largest crypto and largest altcoin by market capitalization. The Ethereum network is tailored for scalability, programmability, security, and decentralization, attributes that make it popular among developers.

Ethereum uses decentralized blockchain technology, where developers can build and deploy applications that are independent of the central authority. To make this easier, the network has a programming language in place, which helps users create self-executing smart contracts. A smart contract is basically a code that can be verified and allows inter-user transactions.

Staking is a process where investors grow their portfolios by locking their assets for a specified duration instead of selling them. It is used by most blockchains, especially the ones that employ Proof-of-Stake (PoS) mechanism, with users earning rewards as an incentive for committing their tokens. For most long-term cryptocurrency holders, staking is a strategy to make passive income from your assets, putting them to work in exchange for reward generation.

Ethereum transitioned from a Proof-of-Work (PoW) to a Proof-of-Stake (PoS) mechanism in an event christened “The Merge.” The transformation came as the network wanted to achieve more security, cut down on energy consumption by 99.95%, and execute new scaling solutions with a possible threshold of 100,000 transactions per second. With PoS, there are less entry barriers for miners considering the reduced energy demands.


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China Non-Manufacturing PMI came in at 51.7, above expectations (51.5) in August
China Non-Manufacturing PMI came in at 51.7, above expectations (51.5) in August

China Non-Manufacturing PMI came in at 51.7, above expectations (51.5) in August

344689   September 30, 2023 09:33   FXStreet   Market News  

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

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China NBS Manufacturing PMI above forecasts (50) in August: Actual (50.2)
China NBS Manufacturing PMI above forecasts (50) in August: Actual (50.2)

China NBS Manufacturing PMI above forecasts (50) in August: Actual (50.2)

344688   September 30, 2023 09:33   FXStreet   Market News  

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

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Bitcoin Cash, Chainlink, Maker DAO, THORChain: Four altcoins whose rallies could continue in October

Bitcoin Cash, Chainlink, Maker DAO, THORChain: Four altcoins whose rallies could continue in October

344685   September 30, 2023 08:49   FXStreet   Market News  


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  • Bitcoin Cash, Chainlink, MakerDAO and THORChain are among the altcoins that recorded double-digit gains during a positive week for crypto.
  • BCH rose 13%, LINK 15%, MKR 13%, and RUNE 14%, with big Bitcoin and USDT wallets recording huge accumulations of the tokens.
  • Santiment analytics anticipate a continued rally into October, owing to the massive accumulations.

The week beginning September 25 was one of the most positive ones for the cryptocurrency market. However, while some ecosystems recorded single-digit gains, Bitcoin Cash, Chainlink, Maker DAO, and THORChain stood out with double-digit gains. Experts say the bullishness could continue into the new month.

Also Read: Ethereum futures ETFs that will be given SEC accelerated approval to launch on Monday, experts say

Santiment anticipates at least four rallies in October

An analysis by Santiment speculates at least four rallies in October, with Bitcoin Cash (BCH), Chainlink (LINK), Maker DAO (MKR), and THORChain (RUNE) likely to continue the uptrends they took to beginning the last week of September.

BCH/USDT 1-day chart, LINK/USDT 1-day chart, MKR/USDT 1-day chart, RUNE/USDT 1-day chart

According to the behavior analytics platform for cryptocurrencies, which sources on-chain, social, and development information, Santiment, the anticipated rally comes as big Bitcoin (BTC) and Tether (USDT) wallets recorded significant accumulations of BCH, LINK, MKR, and RUNE.

Source: Santiment

The massive accumulations point to increased interest for these altcoins, and therefore demand, which could increase their value should the big wallets continue in the accumulation pattern. Nevertheless, it is important to do your own research and only invest in money you are okay parting with. 

Cryptocurrency metrics FAQs

The developer or creator of each cryptocurrency decides on the total number of tokens that can be minted or issued. Only a certain number of these assets can be minted by mining, staking or other mechanisms. This is defined by the algorithm of the underlying blockchain technology. Since its inception, a total of 19,445,656 BTCs have been mined, which is the circulating supply of Bitcoin. On the other hand, circulating supply can also be decreased via actions such as burning tokens, or mistakenly sending assets to addresses of other incompatible blockchains.

Market capitalization is the result of multiplying the circulating supply of a certain asset by the asset’s current market value. For Bitcoin, the market capitalization at the beginning of August 2023 is above $570 billion, which is the result of the more than 19 million BTC in circulation multiplied by the Bitcoin price around $29,600.

Trading volume refers to the total number of tokens for a specific asset that has been transacted or exchanged between buyers and sellers within set trading hours, for example, 24 hours. It is used to gauge market sentiment, this metric combines all volumes on centralized exchanges and decentralized exchanges. Increasing trading volume often denotes the demand for a certain asset as more people are buying and selling the cryptocurrency.

Funding rates are a concept designed to encourage traders to take positions and ensure perpetual contract prices match spot markets. It defines a mechanism by exchanges to ensure that future prices and index prices periodic payments regularly converge. When the funding rate is positive, the price of the perpetual contract is higher than the mark price. This means traders who are bullish and have opened long positions pay traders who are in short positions. On the other hand, a negative funding rate means perpetual prices are below the mark price, and hence traders with short positions pay traders who have opened long positions.


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Mexico Fiscal Balance, pesos climbed from previous -77.562B to -38.94B in August
Mexico Fiscal Balance, pesos climbed from previous -77.562B to -38.94B in August

Mexico Fiscal Balance, pesos climbed from previous -77.562B to -38.94B in August

344684   September 30, 2023 08:12   FXStreet   Market News  

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

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Mexico Fiscal Balance, pesos: -512B (August) vs previous -77.562B
Mexico Fiscal Balance, pesos: -512B (August) vs previous -77.562B

Mexico Fiscal Balance, pesos: -512B (August) vs previous -77.562B

344683   September 30, 2023 08:09   FXStreet   Market News  

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

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Ethereum futures ETFs that will be given SEC accelerated approval to launch on Monday, experts say

Ethereum futures ETFs that will be given SEC accelerated approval to launch on Monday, experts say

344680   September 30, 2023 08:02   FXStreet   Market News  


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  • Nine funds have demonstrated readiness to go in the Ether Futures ETF Derby beginning October 2.
  • ETF excerpts have given the list of ETH futures ETFs that could get accelerated approval to go live by Monday.
  • Eric Balchunas and James Seyffart anticipate a simultaneous launch calling it fascinating experiment and great foreshadow/undercard to the spot race.

Ethereum futures exchange-traded funds (ETFs) are the latest trend in the crypto market, with institutional players switching lanes after the US Securities and Exchange Commission (SEC) delayed decisions on Bitcoin Spot ETFs.

Also Read: BlackRock among four of seven with Bitcoin spot ETF decisions delayed ahead of possible government shutdown

Ethereum futures ETFs take precedence

Ether futures ETFs are taking precedence over Bitcoin spot ETFs, an outcome that appears to be boding well for Ethereum price while the rest of the market suffers the wake of numb volatility. Ethereum price is up almost 5% in the last week while Bitcoin price is up a meager 3%.

Also Read: Ethereum price outperforms Bitcoin on speculation that SEC may approve ETH futures ETF sooner

It comes as firms line up to launch their Ether futures ETFs come Monday, October 2. Bloomberg Intelligence analyst and ETF expert James Seyffart and colleague Eric Balchunas have given a list of possible ETH futures ETFs set to debut on Monday. The list of nine funds will be issued by VanEck, BitWise, ProShares, Valkyrie, Kelly ETFs, and Volatility Shares.

ETFs set for October 2 listing

This list bases on the assumption that they are all operationally ready to go and that there will not be any last-minute entrants. It is worth mentioning that Hashdex ought to have been on the list, but then the firm’s partnership with Kelly will not be happening.

According to Seyffart, the combined assets under management (AUM) for all the nine ETH futures ETF products could range between 100 and 200 million. Balchunas has given the same estimate for the total AUM for the nine issuers, basing his assumption on the logic that BTC futures did $1 billion while ETH funds globally have 20% the AUM of Bitcoin funds. The ETF expert also anticipates that issuers will tap their client list to get as much volume or flow as they can get early.

With expectations of an announcement early Monday around 9:30 AM, Balchunas says the simultaneous premiere will be unprecedented. Specifically, having this many ETFs doing the same thing launching same day will make for a “fascinating experiment and great foreshadow or undercard to the spot race.”

New record as 68 ETFs launched on September

As a side note, up to 68 ETFs have launched in September alone, without including the list of nine expected to debut on Monday. It translates to a pace of more than three per day. According to Balchunas, which is a new all-time record.

Sixty-eight ETFs launched in September

Crypto ETF FAQs

An Exchange-Traded Fund (ETF) is an investment vehicle or an index that tracks the price of an underlying asset. ETFs can not only track a single asset, but a group of assets and sectors. For example, a Bitcoin ETF tracks Bitcoin’s price. ETF is a tool used by investors to gain exposure to a certain asset.

Yes. The first Bitcoin futures ETF in the US was approved by the US Securities & Exchange Commission in October 2021. A total of seven Bitcoin futures ETFs have been approved, with more than 20 still waiting for the regulator’s permission. The SEC says that the cryptocurrency industry is new and subject to manipulation, which is why it has been delaying crypto-related futures ETFs for the last few years.

Bitcoin spot ETF has been approved outside the US, but the SEC is yet to approve one in the country. After BlackRock filed for a Bitcoin spot ETF on June 15, the interest surrounding crypto ETFs has been renewed. Grayscale – whose application for a Bitcoin spot ETF was initially rejected by the SEC – got a victory in court, forcing the US regulator to review its proposal again. The SEC’s loss in this lawsuit has fueled hopes that a Bitcoin spot ETF might be approved by the end of the year.


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