Monthly Archives: May 2024

Cryptocurrency spot trading cooled last month for the first time in seven months.

It was a trend driven by a dwindling likelihood of interest rate cuts and slower inflows into U.S.-listed spot bitcoin exchange-traded funds (ETFs), Seeking AlphareportedSaturday (May 18), citing numbers from researcherCCData.

According to that data, spot market volume on exchanges such asCoinbase, BinanceandKraken fell by 32.6% to $2.01 trillion in April, while monthly derivatives trading volume declined by 24.1% to $4.57 trillion, its first drop in three months.

This decline followed unexpected macroeconomic data, an escalation in the geopolitical crisis in the Middle East, and negative net flows from U.S. spot Bitcoin ETFs, leading major crypto assets retracing the gains they made in March, CCData said.

Last month also saw bitcoin drop by almost 15%, falling below $60,000 and breaking a seven-month hot streak that included a record highof more than $73,000 in March.

As the report noted, this run was driven primarily by speculation surrounding last years regulatory approval of spot ETFs and the bitcoin halving event.

Last week, crypto custody firmBakktsaid that the Securities and Exchange Commissions (SEC)approval of bitcoin ETFswill lead institutional investors to play a larger role in the cryptocurrency trading market.

The companys earnings showed that in the first three months of the year, crypto trading volume climbed 324%compared to the prior quarter, driven by exceptionally strong client trading activity, the presentation said.

As evidenced in our trading volumes in Q1, weve begun to see positive green shoots in the market and the overall demand environment improving, with more industry activity, higher coin pricesandoverall higher retail trading volume,Andy Main, president and CEO of Bakkt, said during the companys quarterly earnings call.

The institutional investors in this market are seeking a purpose-built crypto trading platform that will align with their needs and priorities, rather than the existing trading market that was built primarily for retail investors, Bakkts presentation said.

The crypto trading industry has been built primarily for everyday retail investors who use a central limit order book trading structure, Main said. Meanwhile, institutional investors who are offering bitcoin ETFs are increasingly finding that the retail central limit order book structure is not meeting their large-scale needs.

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Report: Crypto Spot Trading Slows in April - PYMNTS.com

May 20, 2024 by Carolyna Mavis

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Seeking the next prominent cryptocurrency investment entails analyzing projects with genuine potential. Solana, Arbitrum, and BlockDAG stand out as popular names and pioneers with significant achievements in the cryptocurrency realm. Solana has been bolstered by institutional support, Arbitrum has carved out a lead in Layer 2 solutions on Uniswap, and BlockDAG has distinguished itself with

Seeking the next prominent cryptocurrency investment entails analyzing projects with genuine potential. Solana, Arbitrum, and BlockDAG stand out as popular names and pioneers with significant achievements in the cryptocurrency realm.

Solana has been bolstered by institutional support, Arbitrum has carved out a lead in Layer 2 solutions on Uniswap, and BlockDAG has distinguished itself with an innovative approach and a notable $28.5 million presale success. These cryptocurrencies are poised for substantial growth, presenting prime opportunities for investors aiming to benefit from the future of digital finance.

Solana (SOL) has recently witnessed a significant uptick in interest, primarily due to substantial institutional investments. It saw an infusion of $4.1 million in just one week, reflecting a solid resurgence in institutional confidence. Should SOL breach the $156 resistance level, a potential 20% increase in its value is forecasted.

Conversely, a fall below $138 could undermine this optimistic scenario. The growing enthusiasm from retail investors is evident from the increased funding rates for perpetual contracts. The blend of institutional investments, potential for technical gains, and retail enthusiasm positions Solana as a compelling investment option. Its robust institutional support and the potential for appreciable price growth enhance its attractiveness.

Arbitrum now ranks as the top Layer 2 (L2) network on Uniswap, with a trading volume exceeding $150 billion. This milestone highlights Arbitrums expanding influence in the decentralized finance (DeFi) sector, facilitated by faster transactions and reduced costs. The networks ecosystem is also broadening, as demonstrated by the memecoin WienerAI, which amassed over $1 million in its presale.

The extensive use of Arbitrum and its dominance in the DeFi market, coupled with engaging projects like WienerAI, underscore its strength as an investment avenue. The significant trading volume and the success of projects within its ecosystem emphasize its potential for ongoing expansion.

BlockDAG has garnered significant interest with its $28.5 million presale, now in its 13th batch. Each coin is priced at $0.008; over 9.3 billion coins have already been sold. BlockDAGs successful listing and appearance at Londons Piccadilly Circus have further enhanced its visibility, drawing even more attention to this promising cryptocurrency.

The X1 miner apps launch on June 1 promises to transform smartphones into efficient mining tools, allowing users to earn up to 20 BDAG coins daily. This innovation is expected to democratize cryptocurrency mining, making it accessible to a wider audience. Thanks to its advanced technology and strong community support, analysts predict that BlockDAGs value could soar to $30 by 2030.

BlockDAGs impressive presale success, innovative mining app, and promising future valuation make it a top contender for substantial long-term gains. Its significant achievements and the potential for a high return on investment make it an attractive prospect for investors looking for the next big crypto investment. With its advanced technology, strong community, and strategic visibility efforts, BlockDAG stands out as a transformative force in the cryptocurrency market, poised to drive significant adoption and engagement in the coming years.

Solana, Arbitrum, and BlockDAG each provide strong investment rationales in evaluating the top cryptocurrency to invest in currently. Solanas solid institutional foundation and technical prospects make it a reliable selection.

Arbitrums DeFi sector leadership and novel projects offer a solid investment proposition. Nonetheless, BlockDAG emerges as the front-runner with its significant presale achievements, pioneering mining application, and optimistic future value estimates, marking it as the foremost candidate for substantial long-term gains.

Join BlockDAG Presale:

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Solana, Arbitrum, And BlockDAG: Assessing The Top Cryptocurrency To Invest In 2024 - Blockchain Magazine

Investing.com - Ethereum was trading at $3,413.11 by 15:32 (19:32 GMT) on the Investing.com Index on Monday, up 11.35% on the day. It was the largest one-day percentage gain since November 9, 2023.

The move upwards pushed Ethereum's market cap up to $378.09B, or 15.29% of the total cryptocurrency market cap. At its highest, Ethereum's market cap was $569.58B.

Ethereum had traded in a range of $3,048.33 to $3,413.84 in the previous twenty-four hours.

Over the past seven days, Ethereum has seen a rise in value, as it gained 6.66%. The volume of Ethereum traded in the twenty-four hours to time of writing was $12.83B or 18.24% of the total volume of all cryptocurrencies. It has traded in a range of $2,864.5002 to $3,413.8357 in the past 7 days.

At its current price, Ethereum is still down 29.83% from its all-time high of $4,864.06 set on November 10, 2021.

Bitcoin was last at $69,591.6 on the Investing.com Index, up 4.52% on the day.

Tether USDt was trading at $1.0004 on the Investing.com Index, a gain of 0.04%.

Bitcoin's market cap was last at $1,353.99B or 54.75% of the total cryptocurrency market cap, while Tether USDt's market cap totaled $111.51B or 4.51% of the total cryptocurrency market value.

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Ethereum Climbs 11% In a Green Day By Investing.com - Investing.com

CryptoCloud is dedicated to enabling businesses to seamlessly integrate cryptocurrency payments, thereby opening up new avenues for growth and opportunity. Recognizing the critical importance of performance, user-friendliness, and robust security in todays financial environment, they are committed to continuous innovation and enhancement of the platform to provide an unparalleled user experience.

Lets explore their latest advancements, which aim to streamline the payment process, safeguard merchants assets, and help to fully leverage the benefits of cryptocurrencies.

CryptoCloud has drastically reduced confirmation periods for USDT, USDC, and TUSD stablecoins on the Tron network. Their search algorithm accelerates confirmations without compromising network security.

This results in a smoother payment experience for customers, with transactions in these popular stablecoins now being confirmed in under a minute. Thus, it minimizes checkout friction and reduces support inquiries regarding payment status.

Understanding that working with cryptocurrency payments can be challenging, especially for newcomers. That is why CryptoCloud team has included a user-friendly cryptocurrency payment instruction template in the CryptoCloud documentation.

This template simplifies the process of payment and helps educate customers on how to make cryptocurrency payments. Placing this template on the website or checkout page can significantly improve user experience and increase conversion rates.

To mitigate the volatility of cryptocurrencies, CryptoCloud merchants can enable the automatic conversion of incoming Bitcoin (BTC) and Litecoin (LTC) payments to USDT, a stablecoin pegged to the US dollar. This feature protects funds from market fluctuations, reducing the risk of financial loss.

CryptoCloud platform secures the best exchange rate from a network of over 10 licensed operators, enhancing financial security of business owners. Merchants can activate this feature in the personal account.

Managing invoices can be cumbersome for businesses dependent on repeated payments. CryptoClouds introduction of static wallets revolutionizes this process.

Customers can pay to the same permanent address, eliminating the need to generate new invoices for each cycle. Funds are instantly credited upon receiving an API response, streamlining the payment process for both business owners and their customers.

Security is a top priority at CryptoCloud. Their new Anti-Money Laundering (AML) transaction check helps prevent fraudulent activity and potential exchange account suspensions. This automated system thoroughly examines each transaction, flagging and stopping high-risk transactions.

This proactive measure enhances the security of assets and cryptocurrency operations. The feature can be easily activated in the project settings, requiring no changes to the existing integration.

The CryptoCloud team has created a comprehensive guide for integrating branded payment icons onto merchants websites. These icons signal to customers that here they can pay with cryptocurrencies, which appeals to a tech-savvy audience.

Strategically placing these icons on the the payment methods page can attract crypto-savvy clientele and enhance brand recognition. Integration is simple, with options to insert HTML code or manually upload files from the provided archive.

Their commitment to innovation is not limited by those features. Automatic USDT conversion, static wallets, and AML-check are just the beginning of efforts to propel businesses into the future of finance. Stay updated on upcoming developments as they continuously expand the platforms capabilities and optimize their services.

Explore additional features on their website and review FAQs for more information. Partner with Crypto Processing CryptoCloud and unlock the full potential of cryptocurrency payments for business.

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Crypto Processing CryptoCloud: Unlocking the Future of Cryptocurrency Payments with Enhanced Performance and ... - CryptoGlobe

STAFFORD, Texas, May 20, 2024 (Newswire.com) - For the past eight years, CellPay has been at the forefront of providing essential financial services to the underbanked and unbanked communities. From bill payments to domestic and international mobile top-ups, CellPay has been a trusted partner in facilitating financial transactions for those often excluded from traditional banking systems.

Now, CellPay is proud to introduce CryptoGiftCard.io, a revolutionary platform designed to further empower individuals with access to cryptocurrency. With CellPay's longstanding commitment to financial inclusion as its foundation, CryptoGiftCard.io emerges as a natural extension of this mission, offering a seamless pathway for individuals to enter the world of digital assets.

Richard Mas, CEO of CellPay.us, passionately expressed, "CryptoGiftCard.io isn't just about launching a platform; it's about catalyzing a movement. We firmly believe that everyone deserves access to the life-changing potential of cryptocurrency, and our platform embodies that conviction."

Building on this vision, Parvez Jasani, the visionary founder behind CellPay.us, added, "With CryptoGiftCard.io, we are not merely offering a service; we are creating avenues for advancement. Our mission is to empower individuals from all walks of life, regardless of their financial backgrounds, to participate actively in the digital economy and forge brighter futures for themselves and their communities."

At CryptoGiftCard.io, our commitment to inclusivity extends beyond mere rhetoric. Whether you're a gift card recipient looking to explore the world of cryptocurrency or a reseller seeking to broaden your offerings, our platform is tailored to meet your needs. By facilitating easy conversion from gift cards to cryptocurrency, we are ensuring that access to this transformative technology is within reach for everyone.

Founded by Parvez Jasani, CryptoGiftCard.io represents the latest chapter in CellPay's ongoing mission to expand services for both resellers and consumers. As CellPay.us continues to evolve, CryptoGiftCard.io stands as a significant stride towards providing comprehensive financial solutions for all.

Join us on this transformative journey towards financial inclusion and empowerment. Visit CryptoGiftCard.io today and unlock the door to a world of possibilities with cryptocurrency.

Source: CellPay

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Introducing CryptoGiftCard.io Your Gateway to Cryptocurrency Access for All, Powered by CellPay - Newswire

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Bitcoin has risen 5.57% over the last 24 hours to trade at $70,914.89. It is up 13.43% from last week. The second most popular token, Ethereum, is up 16.45% from yesterday and is trading at $3,645.54. From last week, it is up 24.08%. The market capitalization of Bitcoin and Ethereum is now at $1,399 billion and $439.12 billion, respectively.

BNB is trading at $595.82, which is 2.80% up from yesterday and a 0.93% rise from last week. XRP is currently trading at $0.55 after moving up 3.27% in the last 24 hours. It is 5.58% up from last week. Cardano and Dogecoin are trading at $0.44 (up 4.06%) and $0.11 (up 5.73%), respectively.

Solana, Polka Dot, Shiba Inu, and Polygon are currently trading at $182.33 (up 2.6%), $7.46 (up 5.74%), $0.000022 (up 4.23%), and $0.77 (up 6.08%), respectively. On the basis of the weekly chart, Solana has moved up by 22.49% while Polka Dot has moved up by 12.18%. Shiba Inu has gained 7.18% of its value in the last seven days whereas Polygon is 11.3% up.

Looking at the 24 hourly movement, the top five gainers are FLOKI, Pepe, Arweave, Wormhole, and THORChain. They are trading at $0.00022 (up 10.77%), $0.000011 (up 6.10%), $41.22 (up 4.90%), $0.55 (up 2.88%), and $5.65 (up 1.75%), respectively.

The biggest losers of the day are Worldcoin, Ethena, Celestia, dogwifhat, and NEAR Protocol. They are trading at $4.79 (down 9.30%), $0.77 (down 6.98%), $8.19 (down 6.77%), $2.92 (down 5.98%), and $6.97 (down 4.91%), respectively.

DeFi or decentralized finance refers to global, peer-to-peer financial services on public blockchains. Avalanche, Chainlink, Internet Computer, Uniswap, and Dai are among the most popular DeFi tokens. They are trading at $40.25 (up 11.31%), $16.95 (down 0.85%), $13.45 (up 4.90%), $9.17 (up 16.54%), and $0.99 (down 0.02%), respectively.

Non-fungible tokens (NFTs) are cryptocurrencies that do not possess the property of fungibility, meaning they cannot be exchanged for one another like other tokens. Some of the popular NFT tokens are Internet Computer, Render, Immutable, Stacks, and Theta Network. They are currently trading at $13.38 (up 3.93%), $10.86 (up 5.74%), $2.51 (up 8.57%), $2.14 (up 7.18%), and $2.47 (up 10.29%), respectively.

The current global crypto market cap is $2.62 trillion, a 9.2% increase over the last day. The total crypto market volume over the last 24 hours is $114.45 billion, which marks a 125.56% increase. The global cryptocurrency market valuation was $2.39 trillion last month, in comparison to $1.99 trillion three months ago.

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Cryptocurrency prices today: Check rates of Bitcoin, Ethereum, Dogecoin, Solana - NewsBytes

Investing.com-- price jumped sharply on Tuesday, tracking a rally in Ether after a media report flagged some progress towards the approval of spot-Ether exchange-traded funds for U.S. markets.

The worlds largest cryptocurrency rose 6.6% in the past 24 hours to $71,349 by 08:47 ET (12:47 GMT).

But world no.2 token Ether was the star performer on Tuesday, surging 22.5% to a 1- month high of $3,776.1.

A report from Coindesk showed that the U.S. Securities and Exchange Commission asked applicants for spot Ether ETFs to update some key filings, ahead of a key deadline for the approval of the funds later this Thursday.

While the report said that there was still no guarantee that the regulator will approve the ETFs, it did mark some progress towards an eventual approval.

Bloomberg analysts Eric Balchunas and James Seyffart updated their expectations for a spot Ether ETF approval to a 75% probability from 25%, citing the Coindesk report and stating that the SEC could be doing a 180 on a potential approval.

The SEC was seen largely averse towards a spot Ether ETF, especially as recent reports said the regulator was also pursuing action against the Foundation over Ethers potential nature as a security.

But a spot ETF approval could trigger a similar rally in Ether as it did for Bitcoin earlier in 2024, where the token surged to a record high on increased capital inflows as institutional investors piled into the ETFs.

Data from digital assets manager CoinShares showed on Monday that crypto investment products saw a second straight week of capital inflows, as some soft readings on U.S. inflation ramped up bets that the Federal Reserve will cut interest rates this year.

Total capital inflows were at $932 million in the week to May 20, with Bitcoin continuing to dominate capital flows. Still, overall trading volumes remained well below peaks seen in the aftermath of the spot-Bitcoin ETF approvals in February and March.

Altcoins drifted higher, tracking gains in Ether. rose 1.2%, while added 6%.

Meme tokens and SHIB climbed 10.5% and 8%, respectively.

House Democrats Maxine Waters (NYSE:) (D-Calif.) and David Scott (D-Ga.) have voiced to their colleagues their strong opposition to the Financial Innovation and Technology for the 21st Century Act, also referred to as the crypto bill.

However, despite this stance, the pair is not actively urging members to vote against the bill, as reported by Politico.

Waters and Scott argue that the bill undermines established legal precedents and creates uncertainty in the traditional securities market.

They claim the bills safe harbor provision, allowing entities to file an "intent to register" if they meet certain requirements, effectively shields these entities from existing securities laws until the SEC and CFTC finalize new regulations.

This, they argue, "weakens investor protections and opens the door to fraud and market manipulation," the email said.

The letter also states that if the bill becomes law, it would prevent shareholders from suing publicly traded companies, override state regulations regarding digital assets, weaken fiduciary requirements, and undermine capital markets.

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Bitcoin price today: rebounds to $70k on spot Ether ETF speculation - Investing.com