hacklink hack forum hacklink film izle hacklink mamibet loginmamibetmamibet loginqqmamibetjojobetbetciobetcioholiganbetmegabahisjojobet

Crypto Shuttle News

Tag: Eyes

  • XRP ETF Premium Primed For Big Leap: Eyes Set On $500

    XRP ETF Premium Primed For Big Leap: Eyes Set On $500

    [ad_1]

    XRP enthusiasts are in a frenzy after prominent community figure Chad Steingraber proposed a scenario where an XRP exchange-traded fund (ETF) could trade at a staggering 100x premium.

    Steingraber, a seasoned game designer, laid out his thoughts in a recent post, igniting discussions about the potential trajectory of an XRP ETF, particularly in light of the ongoing push for institutional adoption of the altcoin.

    Targeting A $500 XRP ETF Share Price

    Steingraber’s speculation centers around the price at which an XRP ETF’s shares might trade. His hypothesis hinges on the crypto reaching an unprecedented price of $5 per coin. In this scenario, he theorizes that the corresponding ETF could soar to equally unprecedented heights, potentially reaching a solid $500 per share.

    This hefty premium, according to Steingraber, would be fueled by a surge in institutional interest in the ETF. He cites the Grayscale Litecoin Trust (LTCN) as a prime example.

    Similar to his proposed XRP ETF, LTCN trades at a significant premium over Litecoin’s current market price. Despite Litecoin hovering around $95, investors in LTCN are currently paying a premium of over $250 per Litecoin equivalent within the trust.

    Can Arbitrage Opportunities Emerge?

    The prospect of such a high premium has sparked discussions about potential arbitrage opportunities. X user Zack, in response to Steingraber’s post, questioned whether individuals holding XRP could exploit this price disparity. Steingraber acknowledged the possibility, particularly if the issuing ETF allows for in-kind deposits, where investors can directly exchange their token for ETF shares.

    XRP market cap currently at $34 billion. Chart: TradingView.com

    However, he cautioned that in-kind deposits are still a rarity in the ETF market. While Steingraber expressed optimism about the future adoption of this practice, its absence presents a hurdle for immediate arbitrage opportunities.

    The XRP community has long advocated for asset managers, especially industry giant BlackRock, to launch an XRP ETF. They believe such a product would significantly bolster the value of XRP by increasing its accessibility to institutional investors.

    XRP up in the last seven days. Source: Coingecko

    A Speculative Outlook With Underlying Uncertainties

    It’s crucial to remember that Steingraber’s vision is entirely speculative. As of today, no asset manager has taken concrete steps towards applying for an XRP ETF. Furthermore, the justification for such a high premium rests heavily on the assumption of substantial institutional demand, a factor that remains uncertain.

    The applicability of the Grayscale Litecoin Trust comparison also requires further scrutiny. The specific structure and features of an XRP ETF would significantly influence whether a similar premium dynamic would emerge.

    A Reality Check For Investors

    While Steingraber’s prediction has certainly captured the community’s imagination, investors are advised to approach it with a healthy dose of caution. The approval timeline for an XRP ETF hinges on the US Securities and Exchange Commission’s stance on cryptocurrency ETFs.

    Additionally, competition from other potential ETFs could play a role in determining the premium, if any.

    Featured image from Freepik, chart from TradingView

    Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.



    [ad_2]

    Source link

  • Short Ethereum Liquidations Surge, ETH Eyes $3,000

    Short Ethereum Liquidations Surge, ETH Eyes $3,000

    [ad_1]

    The world’s second most dominant digital asset, Ethereum witnessed significant buying pressure on Friday as the cryptocurrency spiked by almost 5% in 24 hours. With rising prices, short ETH trading positions liquidations also increased substantially during the mentioned period.

    The data posted by Coinglass shows that more than $50 million worth of positions related to Ethereum were liquidated in the last 24 hours. The number includes the liquidation of approximately $40 million worth of short positions.

    Ethereum’s price remained under pressure since November 2021. In January 2022, the crypto asset reached a low of almost $2,100, down by more than 50% from its all-time high in November 2021. Since the start of 2022, Ethereum faced several challenges including the rise in short trading positions around the digital asset.

    However, a sudden spike in the crypto market has caused a sharp jump in the liquidation of short trading positions. While ETH topped the list, bearish traders of digital currencies like BTC, LUNA, and SOL also faced the heat with massive liquidations.

    Large Ethereum Transactions

    With growing demand and a jump in its price, the Ethereum network saw a spike in $100,000+ transactions. According to Santiment, an on-chain analysis platform, ETH whale transfers have reached the highest level in nearly 1 month.

    “ETH has surged back above $2,900 for the first time since March 2nd, and whale transactions are on the rise big time. Yesterday was the first day with over 7,000 $100k+ transactions on the ETH network since the war news broke,” Santiment mentioned in a recent update.

    ETH outflows from leading digital exchanges have increased as well. Recently, large Ethereum holders shifted the crypto asset in enormous amounts from exchanges to cold storage. Earlier this week, ETH 2.0 deposit contract crossed 10.4 million staked Ethereum.

    The world’s second most dominant digital asset, Ethereum witnessed significant buying pressure on Friday as the cryptocurrency spiked by almost 5% in 24 hours. With rising prices, short ETH trading positions liquidations also increased substantially during the mentioned period.

    The data posted by Coinglass shows that more than $50 million worth of positions related to Ethereum were liquidated in the last 24 hours. The number includes the liquidation of approximately $40 million worth of short positions.

    Ethereum’s price remained under pressure since November 2021. In January 2022, the crypto asset reached a low of almost $2,100, down by more than 50% from its all-time high in November 2021. Since the start of 2022, Ethereum faced several challenges including the rise in short trading positions around the digital asset.

    However, a sudden spike in the crypto market has caused a sharp jump in the liquidation of short trading positions. While ETH topped the list, bearish traders of digital currencies like BTC, LUNA, and SOL also faced the heat with massive liquidations.

    Large Ethereum Transactions

    With growing demand and a jump in its price, the Ethereum network saw a spike in $100,000+ transactions. According to Santiment, an on-chain analysis platform, ETH whale transfers have reached the highest level in nearly 1 month.

    “ETH has surged back above $2,900 for the first time since March 2nd, and whale transactions are on the rise big time. Yesterday was the first day with over 7,000 $100k+ transactions on the ETH network since the war news broke,” Santiment mentioned in a recent update.

    ETH outflows from leading digital exchanges have increased as well. Recently, large Ethereum holders shifted the crypto asset in enormous amounts from exchanges to cold storage. Earlier this week, ETH 2.0 deposit contract crossed 10.4 million staked Ethereum.

    [ad_2]

    Source link

  • Bitcoin Eyes Steady Recovery, Why Bulls Might Struggle

    Bitcoin Eyes Steady Recovery, Why Bulls Might Struggle

    [ad_1]

    Bitcoin started a recovery wave above $36,000 against the US Dollar. BTC must settle above the $38,000 zone to start a steady upward move.

    • Bitcoin is trying to clear the $37,500 and $38,000 resistance levels.
    • The price is now trading above $36,500 and the 100 hourly simple moving average.
    • There is a key breakout pattern forming with resistance near $37,500 on the hourly chart of the BTC/USD pair (data feed from Kraken).
    • The pair could start a steady upward move if there is a clear move above the $38,000 resistance.

    Bitcoin Price Eyes Upside Continuation

    Bitcoin price managed to stay above the $35,000 zone and started a recovery wave. BTC climbed above the $36,000 resistance zone to move into a short-term bullish zone.

    There was a break above the $36,500 and $36,800 resistance levels. Besides, there was a move above the 23.6% Fib retracement level of the key drop from the $43,495 swing high to $32,950 low. It is now consolidating near the $37,000 level and trading well above the 100 hourly simple moving average.

    On the upside, an initial resistance is near the $37,400 level. There is also a key breakout pattern forming with resistance near $37,500 on the hourly chart of the BTC/USD pair.

    Bitcoin Price

    Source: BTCUSD on TradingView.com

    The first major resistance is near the $38,200 zone. It is near the 50% Fib retracement level of the key drop from the $43,495 swing high to $32,950 low. An upside break above the $38,200 resistance could start a steady upward move. The next key resistance is near the $49,200 level, above which the bulls might aim a test of $40,000. Any more gains might send bitcoin towards the $41,200 level.

    Fresh Decline in BTC?

    If bitcoin fails to start a fresh increase above $38,200, it could start another decline. An immediate support on the downside is near the $36,800 zone.

    The first major support is seen near the $36,000 zone and the 100 hourly SMA. A downside break below the $36,000 support zone may perhaps start a fresh decline. The next major support is near $35,400, below which the price could revisit $34,000.

    Technical indicators:

    Hourly MACD – The MACD is now gaining pace in the bullish zone.

    Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now above the 50 level.

    Major Support Levels – $36,000, followed by $35,400.

    Major Resistance Levels – $37,400, $38,000 and $38,200.

    [ad_2]

    Source link