Day: April 29, 2025

Hyperliquid Attempts Breakout above $19-Will the Bulls Push Through?

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HYPE has surged 8% in price, with a high trading volume, while testing a key resistance zone. This suggests potential accumulation amid an upcoming ecosystem fee discount.

 

Hyperliquid, the rising decentralized finance ecosystem, has made a major announcement regarding the future of crypto trading on its network. The ecosystem announced plans to launch a new fee discount on May 5. Following this news, traders have shown optimism and are potentially accumulating the coin in anticipation of more gains.

The daily chart shows HYPE has bounced off a key support zone twice, indicating a price reversal. The coin’s bullish momentum has strengthened, and it is testing the $19 key resistance zone as the bulls step in cautiously.

 

Source: CoinMarketCap

 

According to renowned crypto analyst, Solberg Invest, a confirmed breakout above the $19 key resistance zone could see HYPE rally to $36 in the mid-term. Following the recent discount announcement, HYPE could break this zone and begin its rally.

With the MACD (12,26) and moving averages suggesting a “strong buy”, Hyperliquid is geared up for a rally. Traders are closely monitoring HYPE at the $19 resistance zone for further insights.

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partyushgoyal

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Dogecoin Goes Mainstream as 21Shares File for First Spot DOGE ETF

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Dogecoin’s journey from a meme to a key digital asset integrated with traditional finance will be historic in the crypto space.

 

Crypto investors, especially memecoin enthusiasts, are overwhelmed by the latest development in the memecoin market. Nasdaq has filed with the U.S. Securities and Exchange Commission (SEC) to list shares of 21shares Dogecoin Spot ETFs. If approved, traditional investors will gain direct exposure to DOGE without having to hold the memecoin themselves.

 

In addition, Nasdaq has submitted a Form 19b-4 to the SEC seeking approval to list the ETF on its exchange. The proposed Dogecoin ETF is a huge step towards mainstream crypto adoption. As cautious traditional investors gain exposure to such ETFs, this could trigger a desire to learn more about digital assets.

 

Crypto traders and enthusiasts have applauded Dogecoin’s journey from a mere social media meme to a key digital asset in mainstream finance. This reflects the community’s resilience over the years and belief in the future of digital finance.

 

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partyushgoyal

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Ethereum New EIP-9698 Proposal: Here’s What You Need to Know

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Ethereum’s newly proposed EIP-9698 with major upgrades promises faster transactions, lower fees, and improved scalability.

 

 

On April 27, Dankrad Feist from the Ethereum Foundation updated the Ethereum network protocol with the EIP-9698 proposal. This plan will increase the network’s gas limit gradually, making it 100 times larger over the next four years. It could raise Ethereum’s transaction capacity to about 2,000 transactions per second (TPS).

The proposal outlines a clear plan to gradually increase the gas limit starting from June 1, 2025. This plan includes several phases: an initial 10-time increase over the first four years. After that, there will be another 10 times increase, raising the gas limit from the current 36 million to 3.6 billion.

This upgrade could help Ethereum blocks handle up to 6,000 transactions, a big improvement from the current limit of about 20 TPS. This change would make the network faster and help Ethereum compete better against quicker chains like Solana and the BNB Chain.

Source: Chainspect

As Ethereum develops, EIP-9698 could lead to one of the most important advancements in scaling since The Merge. This change could open the door for a new age of fast and efficient decentralized applications.

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partyushgoyal

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Ethereum Weekly Active Adresses Hits a New All-time High-Impact on ETH?

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The Ethereum ecosystem has hit a new all-time high of 15.4 million in weekly active addresses. What does this mean for ETH?

 

Ethereum network has seen a 62.7% surge in network activity over the past 7 days, suggesting heightened market participation. According to on-chain data, the ecosystem has hit 15.4 million active addresses as its layer 2 solutions signal dominance. With layer 2s showing a 6.65 times higher usage, Ethereum’s scalability could be on the process.

 

Source:X

 

What does this mean for ETH?

Ethereum has surged 2.93%  with a 12.86% increase in trading volume over the past 24 hours. In the past 7 days, ETH has gained nearly 7% in price uptrend signalling renewed investor interest. The long-short ratio stands at 1.0268 per Coinglass data, as of press time.

The King of altcoins is currently fluctuating around $1821, per CoinMarketCap. With a spike in Open Interest (OI) funding rate in the past 24 hours, Ethereum could be eyeing a breakout above $ 2000 in the next few days.

 

 

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Bitcoin Miner Reserve Hit Lowest Levels as Miners Capitalize on Surging Price

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Bitcoin miners are capitalizing on BTC’s surging prices and have sold 943 BTC, reducing reserves to the lowest levels in 15 years.

 

As the Bitcoin price surges towards the psychological $100K, miners have taken advantage of the price increase to pocket profits. A look into the on-chain metrics reveals that miners have been capitalizing on BTC’s price rally, selling around 943 Bitcoins.

They have pocketed approximately $850 million between April 15 and April 28. The sell-off came during Bitcoin’s price rally from $84,000 to around $94,570.

 

Source: X

 

As a result of this capitalization, Bitcoin reserves have declined from approximately 1.8083 to 1.8081 million BTC in this period. This is the lowest since February 2010, 15 years ago.

Why are Miners Selling BTC?

Miners face pressure from increased operational costs that could trigger financial instabilities. The trade tariff war in April hit miners hard as equipment prices surged. Additionally, reduced block rewards post the Bitcoin halving event meant decreased income.

However, the rising institutional demand for BTC is absorbing the miner supply, and BTC’s rally remains unaffected by the sell-offs.

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partyushgoyal

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Circle Receives Regulatory Approval as Money Service Provider in Abu Dhabi

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Circle, the company behind USDC stablecoin, gets a green light in Abu Dhabi to operate as a money services provider, signalling the UAE’s positive approach to digital assets.

 

Traditional finance is slowly fading in the global payment systems as digital finance gains ground across the world. Major institutions and governments have shifted their approach to digital financial operations to include cryptocurrencies, inspired by their efficiency in cross-border transcations.

 

In the latest market development, USDC stablecoin issuer Circle has received regulatory approval to operate as a money services provider in Abu Dhabi. This means that the company can offer money services such as payment services, issuance, and custody for the Abu Dhabi Global Market (ADGM). This comes as a reflection of the UAE’s stance on digital assets as key elements of the next financial revolution. Per the Circle announcement on X (formerly Twitter);

 

We’ve received In-Principle Regulatory Approval from  @ADGlobalMarket!  We have also entered into a strategic collaboration with @hub71ad, to strengthen innovation within the digital assets space, and advance access to trusted, transparent, and regulated stablecoin infrastructure across the region.

 

 

The  Past week has seen the stablecoin market surge by 4.8 billion, showing growing demand and adoption of crypto payment services. The market is anticipating further exponential growth in the coming months.

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