Impact

Bank of America has issued a timely warning to investors: resist the urge to sell in May, particularly ahead of the upcoming Consumer Price Index (CPI) report. This advice comes as the CPI data for April 2024, set to be released by the US Bureau of Labor Statistics on May 15, looms large over financial and crypto markets. Bank of America Says HODL According to the Cleveland Federal Reserve, the anticipated CPI report is expected to reflect ongoing inflationary pressures,…

The post From Solana to Ethereum: Exploring Furrever Token’s Dual Impact with $10,000 Competition appeared first on Coinpedia Fintech News In the realm of cryptocurrencies, fierce competition unfolds between two titans: Solana (SOL) and Ethereum (ETH), vying for the coveted top spot among altcoins. As these giants clash, a newcomer emerges, stealing the spotlight with a $10,000 competition that ignites excitement and captures the imagination of investors and enthusiasts alike. Furrever Token (FURR) enters the fray, offering not just a…

The post Bearish Impact Escalating over the BTC Price Rally, Is Bitcoin in the Middle of a 50% Capitulation? appeared first on Coinpedia Fintech News Bitcoin has been hovering within a pre-determined range ever since the token failed to march above the newly formed highs. This appears to have negatively impacted the bullish momentum, as the prices have maintained a steep bearish trend. Moreover, whenever the crypto tries hard to print a huge bullish candle, the bears jump in no…

On-chain indicators reveal a concerning trend, especially for Shiba Inu, which has witnessed a consistent decline in Open Interest since March. However, Shiba Inu’s surge in burn rate, resulting in the destruction of millions of SHIB tokens, has garnered significant attention and sparked optimism. In the last 24 hours, meme coins have registered a strong rally with the dogecoin (DOGE) price rallying by 19%, and Shiba Inu (SHIB) surging by 13%. However, let’s look at the on-chain derivatives for both…

23.000 Bitcoin options with a notional value of $1.4 billion are close to expiration today amid an extension of the broad market bearishness. According to the data, 334,248 Ether contracts with a notional value of $1 billion may also expire after the disappointing performance of the Hong Kong ETF. Bitcoin (BTC) price made a marginal upward reversal of 1.8% in the last 24 hours after falling below the $60K price zone to reach $58K. Additionally, the monthly and year-to-date performance…

On-chain data recently showed that Ripple carried out its monthly escrow unlock for May. As expected, this has raised concerns about how it could affect the XRP price, especially since Ripple has been accused of manipulating the token’s price.  Ripple Unlocks 500 Million XRP Tokens Onchain data revealed 500 million XRP tokens were unlocked from Ripple’s escrow on May 1. The crypto firm is known to unlock 1 billion tokens monthly, although it looks to have only unlocked half this…

The post Litecoin ETF: Potential SEC Approval and Market Impact in Cryptocurrency appeared first on Coinpedia Fintech News The crypto community is anticipating a Litecoin ETF, championed by founder Charlie Lee, awaiting SEC approval. Lee’s optimism can possibly be ascribed to Litecoin structural similarities with Bitcoin, favoring its ETF classification. Ethereum relying on Proof-of-Stake brings regulatory challenges, delaying potential ETF approvals. Meanwhile, Lee is cautious about the prospects of Ethereum’s ETF because of these challenges. Market analysts spread caution, citing…

The SEC opposed Ripple’s motion to strike expert witness Andrea Fox, claiming it’s within the law and doesn’t constitute undisclosed expert testimony. The market continues to wait on the court ruling in the legal battle, with analysts pointing out that XRP will gain close to 20% in the short term. One of the longest-running legal feuds in crypto is edging ever closer to completion, as Crypto News Flash reported. Ripple and the SEC have been fighting in court since former…

X, led by Elon Musk, plans to integrate financial services, sparking speculation about crypto adoption. With licenses in 25 U.S. states, X might allow seamless crypto transactions within its platform. Twitter, now rebranded as X, has stirred speculation regarding its potential integration of cryptocurrencies, including Bitcoin, Ethereum, and Dogecoin. Under the stewardship of Tesla billionaire Elon Musk, the social media platform has obtained money-transmitting licenses in 25 U.S. states, igniting rumors of a significant shift toward financial services integration. Christopher…