Latest news with #Ether
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2 days ago
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Crypto Daybook Americas: Bitcoin, Ether Rise After Court Nixes Trump's Tariffs
By Omkar Godbole (All times ET unless indicated otherwise) Bitcoin BTC rose and stock index futures surged early Thursday after a U.S. court declared President Donald Trump's broad-based tariffs regime invalid. The positive sentiment was buoyed by AI giant Nvidia's upbeat earnings. On-chain data showed large wallets, those holding over 10,000 BTC, have shifted to selling from buying as the largest cryptocurrency holds close to its record high, with an increase in exchange deposits also pointing to selling pressure. Meanwhile, options market data signaled potential for volatility ahead of Friday's monthly settlement. Ether ETH, the second-largest cryptocurrency by market value, jumped to $2,780, the highest since Feb. 24, consistent with the bullish signals from the derivatives market. The token has been bid this week, supposedly on SharpLink's $425 million Treasury plan. Notably, U.S.-listed spot ether ETFs saw a net inflow of $84.89 million on Wednesday, extending their streak to eight consecutive days. Canada-listed investment firm Sol Strategies said it filed a preliminary prospectus with local securities regulators to raise up to $1 billion to boost its investment in the Solana ecosystem. Still, SOL was flattish at around $170. In the broader market, TON, PEPE and FLOKI led other coins higher while FARTCOIN, PI and JUP nursed most losses. Open interest in TON perpetual futures surged 33% to $190 million, clocking the highest since Feb. 18. Stablecoin issuer Circle froze wallets connected to the Libra token containing millions of dollars worth of USDC. Metaplanet issued $21M in bonds to finance more bitcoin purchases. In traditional markets, some investment banks said Trump has other tools to sidestep the court ruling on tariffs. Yields on the longer duration Treasury notes ticked higher, suggesting dollar strength. Stay alert! Crypto May 30: The second round of FTX repayments starts. May 31 (TBC): Mezo mainnet launch. June 6, 1-5 p.m.: U.S. SEC Crypto Task Force Roundtable on "DeFi and the American Spirit" Macro May 29, 8 a.m.: The Brazilian Institute of Geography and Statistics (IBGE) releases April unemployment rate data. Unemployment Rate Est. 6.9% vs. Prev. 7% May 29, 8:30 a.m.: The U.S. Bureau of Economic Analysis (BEA) releases Q1 GDP data. GDP Growth Rate QoQ (2nd estimate) Est. -0.3% vs. Prev. 2.4% GDP Price Index QoQ (2nd estimate) Est. 3.7% vs. Prev. 2.3% GDP Sales QoQ (2nd estimate) Est. -2.5% vs. Prev. 3.3% May 29, 2 p.m.: Fed Governor Adriana D. Kugler will deliver a speech at the 5th Annual Federal Reserve Board Macro-Finance Workshop (virtual). Livestream link. May 30, 8 a.m.: The Brazilian Institute of Geography and Statistics (IBGE) releases Q1 GDP data. GDP Growth Rate QoQ Est. 1.4% vs. Prev. 0.2% GDP Growth Rate YoY Est. 3.2% vs. Prev. 3.6% May 30, 8 a.m.: Mexico's National Institute of Statistics and Geography releases April unemployment rate data. Unemployment Rate Est. 2.5% vs. Prev. 2.2% May 30, 8:30 a.m.: Statistics Canada releases Q1 GDP data. GDP Growth Rate Annualized Est. 1.7% vs. Prev. 2.6% GDP Growth Rate QoQ Prev. 0.6% May 30, 8:30 a.m.: The U.S. Bureau of Economic Analysis (BEA) releases April consumer income and expenditure data. Core PCE Price Index MoM Est. 0.1% vs. Prev. 0% Core PCE Price Index YoY Est. 2.5% vs. Prev. 2.6% PCE Price Index MoM Est. 0.1% vs. Prev. 0% PCE Price Index YoY Est. 2.2% vs. Prev. 2.3% Personal Income MoM Est. 0.3% vs. Prev. 0.5% Personal Spending MoM Est. 0.2% vs. Prev. 0.7% May 30, 10 a.m.: The University of Michigan releases (final) May U.S. consumer sentiment data. Michigan Consumer Sentiment Est. 51 vs. Prev. 52.2 Earnings (Estimates based on FactSet data) None in the near future. Governance votes & calls Arbitrum DAO is voting on a constitutional AIP to upgrade Arbitrum One and Arbitrum Nova to ArbOS 40 'Callisto,' bringing them in line with Ethereum's May 7 Pectra upgrade. The proposal schedules activation for June 17, and voting ends on May 29. Sui DAO is voting on moving to recover approximately $220 million in funds stolen from the Cetus Protocol hack via a protocol upgrade. Voting ends June 3. May 29, 8 a.m.: NEAR Protocol to host a House of Stake Ask Me Anything (AMA) session. May 29, 2 p.m.: Wormhole to host an ecosystem call. June 4, 6:30 p.m.: Synthetic to host a community call. June 10, 10 a.m.: to host an analyst call followed by a Q&A session. Unlocks May 31: Optimism (OP) to unlock 1.89% of its circulating supply worth $24.43 million. June 1: Sui (SUI) to unlock 1.32% of its circulating supply worth $160.58 million. June 1: ZetaChain (ZETA) to unlock 5.34% of its circulating supply worth $11.18 million. June 12: Ethena (ENA) to unlock 0.7% of its circulating supply worth $15.83 million. June 12: Aptos (APT) to unlock 1.79% of its circulating supply worth $60.96 million. Token Launches June 1: Staking rewards for staking ERC-20 OM on MANTRA Finance end. June 16: Advised deadline to unstake stMATIC as part of Lido on Polygon's sunsetting process ends. June 26: Coinbase to delist Helium Mobile (MOBILE), Render (RNDR), Ribbon Finance (RBN), & Synapse (SYN) Day 3 of 3: Bitcoin 2025 (Las Vegas) Day 3 of 4: Web Summit Vancouver (Vancouver, British Columbia) May 29: Stablecon (New York) Day 1 of 2: Litecoin Summit 2025 (Las Vegas) Day 1 of 4: Balkans Crypto 2025 (Tirana, Albania) June 2-7: SXSW London June 19-21: BTC Prague 2025 June 25-26: Bitcoin Policy Institute's Bitcoin Policy Summit 2025 (Washington) June 26-27: Istanbul Blockchain Week By Oliver Knight Markets on the Ethereum-based Cork Protocol remain paused after Wednesday's $12 million smart-contract exploit. The attacker manipulated the smart contact's exchange-rate function by issuing fake tokens, stealing 3,761.8 wrapped staked ether (wstETH) in the process. The exploit marked another attack on the decentralized finance (DeFi) industry just days after Sui-based Cetus Protocol lost $223 million to an exploit. TRM Labs estimates that $2.2 billion was stolen in crypto exploits and hacks in 2024. Ether remains unperturbed by the exploit, leading the market today on the back of renewed institutional interest and spot ETF flows. It is up 3.8% in the past 24 hours while bitcoin is down by 0.17%. TRX, XMR, ETH, LTC and BNB led major cryptocurrencies' growth in perpetual futures open interest. Funding rates for majors, except TON, signal bullish sentiment, but nothing extraordinary. On the CME, ETH annualized one-month futures basis topped 10%, while BTC lagged at 8.7%. Signs of caution emerged on Deribit, with front-end BTC skew flipping to puts and ETH's call skew softening. Block flows on Paradigm featured demand for short-dated BTC puts. BTC is up 1.15% from 4 p.m. ET Wednesday at $108,594.41 (24hrs: -0.29%) ETH is up 3.9% at $2,738.04 (24hrs: +3.63%) CoinDesk 20 is up 2.21% at 3,278.84 (24hrs: +0.66%) Ether CESR Composite Staking Rate is unchanged at 3.1% BTC funding rate is at 0.0057% (6.3006% annualized) on Binance DXY is up 0.12% at 99.99 Gold is up 0.32% at $3,304.20/oz Silver is up 1.24% at $33.41/oz Nikkei 225 closed +1.88% at 38,432.98 Hang Seng closed +1.35% at 23,573.38 FTSE is unchanged at 8,724.05 Euro Stoxx 50 is unchanged at 5,378.39 DJIA closed on Wednesday -0.58% at 42,098.70 S&P 500 closed -0.56% at 5,888.55 Nasdaq closed -0.51% at 19,100.94 S&P/TSX Composite Index closed unchanged at 26,283.50 S&P 40 Latin America closed -0.76 at 2,599.53 U.S. 10-year Treasury rate is up 6 bps at 4.54% E-mini S&P 500 futures are up 1.53% at 5,993.25 E-mini Nasdaq-100 futures are up 2.03% at 21,814.25 E-mini Dow Jones Industrial Average Index futures are up 0.96% at 42,576.00 BTC Dominance: 63.71 (-0.06%) Ethereum to bitcoin ratio: 0.02517 (1.12%) Hashrate (seven-day moving average): 910 EH/s Hashprice (spot): $57.0 Total Fees: 8.03 BTC / $868,310 CME Futures Open Interest: 152,995 BTC BTC priced in gold: 32.8 oz BTC vs gold market cap: 9.30% The VIRTUAL token has topped the 38.2% Fibonacci retracement of the January-April crash. The break out above the widely tracked resistance could entice more buyers, yielding a bigger rally. Strategy (MSTR): closed on Wednesday at $364.25 (-2.14%), +2.43% at $373.09 in pre-market Coinbase Global (COIN): closed at $254.29 (-4.55%), +3.01% at $261.95 Galaxy Digital Holdings (GLXY): closed at C$28 (-6.57%) MARA Holdings (MARA): closed at $14.86 (-9.61%), +4.04% at $15.46 Riot Platforms (RIOT): closed at $8.38 (-8.32%), +2.86% at $8.62 Core Scientific (CORZ): closed at $10.78 (-4.43%), +2.97% at $11.10 CleanSpark (CLSK): closed at $9.11 (-7.61%), +3.62% at $9.44 CoinShares Valkyrie Bitcoin Miners ETF (WGMI): closed at $17.27 (-5.32%) Semler Scientific (SMLR): closed at $41.32 (-4.77%), +2.95% at $42.54 Exodus Movement (EXOD): closed at $25.94 (-25.35%), +11.6% at $28.95 Spot BTC ETFs Daily net flow: $432.7 million Cumulative net flows: $45.31 billion Total BTC holdings ~ 1.21 million Spot ETH ETFs Daily net flow: $84.9 million Cumulative net flows: $2.9 billion Total ETH holdings ~ 3.57 million Source: Farside Investors The MOVE index, which measures the volatility in U.S. Treasury notes, has dropped to the lowest level since March. If it drops further, a continued decline is likely to ease financial conditions, greasing the bitcoin bull run. U.S. Trade Court Strikes Down Trump's Global Tariffs (The Wall Street Journal): Judges said economic deficits don't meet the legal threshold for a national emergency, and said unchecked executive authority over levies violates the constitutional separation of powers. Solana Scores Twin Institutional Wins With $1B Raise and First Public Liquid Staking Strategy (CoinDesk): Sol Strategies aims to raise $1 billion to expand Solana ecosystem exposure, while DeFi Development said it is the first public firm to hold Solana-based liquid staking tokens. Bitcoin Whales Seem to Be Calling a Top as BTC Price Consolidates (CoinDesk): Large holders are offloading BTC and sending it to exchanges after a period of accumulation, while smaller investors continue buying. XRP Army Is Truly Global as CME Data Reveals Nearly Half of XRP Futures Trading Occurs in Non-U.S. Hours (CoinDesk): These contracts recorded $86.6 million in volume over six days across 4,032 trades, with 46% of activity logged during overseas sessions. Goldman Urges Investors to Buy Gold and Oil as Long-Term Hedges (Bloomberg): Goldman Sachs said surging U.S. debt and concerns over monetary and fiscal governance have eroded trust in long-term Treasuries, making gold and oil essential hedges against inflation and supply shocks. UK Seeks to Speed Up Implementation of U.S. Trade Deal (Financial Times): The U.K. business secretary will meet the U.S. Trade Representative in Paris next week to discuss implementation timelines for the bilateral trade deal announced on May 8.
Yahoo
2 days ago
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Ether Likely Building Energy To Smash Through $3K
Ether ETH appears poised to surpass the $3,000 mark as it forms an "ascending triangle" pattern on the price chart. The ascending triangle is characterized by horizontal upper-bound resistance or supply point that repeatedly caps gains and an upward-sloping support line. Ether has faced resistance at $2,735 multiple times over the past two weeks, while subsequent reaction lows have been rising. The price action represents an ascending triangle. The higher lows indicate that buying pressure is rising, which is what gives the ascending triangle its bullish nature. In other words, the pattern represents accumulation that usually sets the stage for the next leg of higher prices. An expected breakout from the ascending triangle would signal a resumption of the rally from April lows near $1,390, opening the door for a move above $3,000. The impending crossover of the 50-day simple moving average (SMA) above the 100-day SMA supports the bullish case. The move could be explosive, as the gap between the Bollinger Bands has narrowed to nearly $250, which has consistently presaged volatility explosion since November. Bollinger bands are volatility bands placed two standard deviations above and below the cryptocurrency's 20-day Simple Moving Average (SMA). "Upward breakouts occur 77% of the time, and breakouts happen roughly 61% of the distance from the base to the cradle," Chartered Market Technician Charles Kirkpatrick wrote in his book on technical analysis. A potential downside break of the triangular consolidation would negate the bull case and may invite stronger selling pressure. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
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2 days ago
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Trump dangles free missile defense, if Canada becomes the 51st state
Trump dangles free missile defense, if Canada becomes the 51st state originally appeared on TheStreet. The crypto market traded flat on Wednesday as Bitcoin hovered around $109,000 and Ether stayed just above $2,670. But outside the charts, geopolitical tension took center stage after former U.S. President Donald Trump delivered an eyebrow-raising offer to Canada: become the 51st state, and access missile defense for free. Trump said Canada would otherwise have to pay $61 billion to join his proposed "Golden Dome" missile defense system, a massive $175 billion project he claims will be operational by the end of his term in 2029. 'I told Canada, which very much wants to be part of our fabulous Golden Dome System, that it will cost $61 Billion Dollars if they remain a separate, but unequal, Nation,' Trump posted on Truth Social. 'But (it) will cost ZERO DOLLARS if they become our cherished 51st State. They are considering the offer!' Canadian Prime Minister Mark Carney confirmed that high-level talks had been held over the defense system but brushed off Trump's statehood suggestion during a recent visit to the White House, saying his country was 'never for sale.' Despite existing defense coordination through NORAD, the proposal has sparked fresh friction between the two North American allies — even as Trump tries to sweeten the deal. There was no immediate official response from Canada following Trump's latest statement. Geopolitical tensions — especially those involving major powers like the U.S. — often create uncertainty in traditional markets, which can spill over into crypto. When events like Trump's $61 billion ultimatum to Canada or broader military defense moves make headlines, investors tend to reassess global stability. This can push some toward crypto as a hedge, especially Bitcoin, which is often viewed as "digital gold" during times of fiat or geopolitical risk. However, this shift isn't always immediate or predictable — it depends on how serious and prolonged the tensions are. At the same time, rising geopolitical friction can also lead to tighter regulations, cross-border capital controls, or increased surveillance, all of which impact how crypto moves globally. For example, any hint that Canada or the U.S. might clamp down on capital outflows or enforce stricter cross-border payment rules could drive local users to shift funds into crypto. So while crypto didn't react sharply to the Canada–Trump tension this week, long-term shifts in diplomatic alliances and defense posturing can subtly reshape the global crypto landscape. Trump dangles free missile defense, if Canada becomes the 51st state first appeared on TheStreet on May 28, 2025 This story was originally reported by TheStreet on May 28, 2025, where it first appeared.
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2 days ago
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Ether Only Crypto Major in Green, XRP Muted After Mammoth Treasury Plans
Ether ETH led major tokens with a modest gain, jumping above $2,700 early Thursday as broader crypto markets remained range-bound despite a flurry of macro and corporate headlines. Ether-based spot ETFs recorded net inflows, reinforcing institutional appetite for the asset even as bitcoin BTC flows slowed, traders said. XRP's price remained largely unchanged after Nasdaq-listed VivoPower announced a $121 million allocation toward building an XRP-based treasury reserve — echoing a bitcoin-based strategy made famous by Strategy (MSTR) and Metaplanet. "While US stocks rose after a federal court blocked Trump's tariffs, Bitcoin slumped after the Fed decided to hold interest rates,' said Nick Ruck, director at LVRG Research, in a Telegram message to CoinDesk. 'These signals could indicate investors remain positive in the long term but are taking risk off from Bitcoin in the short term," Ruck added. Meanwhile, bitcoin lost the $108,000 level with overall market capitalization dipping 2.5%. Major tokens cardano's ADA ADA, BNB Chain's BNB BNB, dogecoin DOGE and Solana's SOL SOL were little changed in the past 24 hours. Outside of the top ten, toncoin TON fell in early Asian hours after a more than 20% surge the day before on reports of a partnership with Elon Musk's xAI to integrate the Grok AI service within its app. Musk later said on X that 'no deal has been signed,' to which Toncoin's Pavel Durov said it was agreed in principle but had formalities pending. As such, some traders say markets are now entering what some are calling a 'Goldilocks zone,' where data remains stable, major risks have been absorbed, and catalysts are pending. "Volatility across most asset classes has collapsed," wrote QCP Capital in a note Tuesday, citing retreating yields on U.S. and Japanese long-dated bonds. 'We now find ourselves in a Goldilocks zone: recent data prints remain largely unaffected by the tariff policy introduced last month,' it said. 'It will take time for companies and consumers to adjust pricing and spending patterns. Only in Q3 are we likely to see these dynamics reflected in the numbers.' Yields on 10- and 30-year Treasuries dropped below 4.5% and 5%, respectively, while Japan's 30-year JGB yield fell under 3%, the firm minted. Despite historic debt levels, the near-term fiscal panic appears to have cooled. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
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3 days ago
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SharpLink Announcement Breathes New Life Into Ether ETFs
The iShares Ethereum Trust (ETHA) saw $32 million of inflows on Tuesday as Ether prices rallied to three-month highs. The surge came after Nasdaq-listed SharpLink Gaming Inc. (SBET) announced plans to raise $425 million to purchase Ether, with Consensys Software Inc. and other crypto-focused investors participating in the deal. Ether jumped 4% on the news, while shares of SharpLink soared 433%, closing at $35.83. That's more than five times the $6.15 per share price of the capital raise. SharpLink's rally evoked comparisons to MicroStrategy Inc., now rebranded as Strategy Inc. (MSTR), which famously transformed itself into a de facto Bitcoin holding company in 2020. Like Strategy, SharpLink's core business has nothing to do with crypto. It operates as a marketing partner for sportsbook and online casino gaming platforms. In 2024, the company was unprofitable and had less than $4 million in revenue. Prior to Tuesday, its market cap was only $15 million. But crypto bulls are betting that SharpLink could play a similar role for Ether that Strategy did for Bitcoin. In 2020, Strategy's first Bitcoin purchases came when it had a market cap under $1.5 billion. Today, it's worth more than $100 billion—more than the value of the Bitcoin it holds—thanks to investors piling in and the company leveraging that enthusiasm to raise even more capital for Bitcoin buys. It's a bold blueprint that other firms have tried to mimic, though none have yet had the same success. Still, the mere possibility of a 'Strategy for Ether' narrative has some investors intrigued. If SharpLink can spark a similar flywheel—raising money to buy Ether, fueling a stock surge, enabling more fundraising and ultimately more Ether purchases—it could become a meaningful catalyst for the second-largest cryptocurrency, which has lagged significantly behind Bitcoin this cycle. As of Tuesday, Bitcoin was trading near $110,000, roughly 62% above its 2021 peak. Ether, meanwhile, hovered around $2,700, still 44% below its all-time high. Some of the underperformance reflects concerns about Ether's role in the smart contract space, with newer blockchains like Solana nipping at its heels. ETF flows tell the story, too. Since the start of 2025, spot Bitcoin ETFs have attracted nearly $10 billion, while Ether ETFs have seen just $100 million in inflows. The iShares Bitcoin Trust ETF (IBIT) now has $72.4 billion in assets, compared to just $3.6 billion for ETHA. Whether SharpLink can change that remains to be seen. But in a crypto market starved for Ether-specific catalysts, Tuesday's fireworks were more than | © Copyright 2025 All rights reserved
