Tag: Cryptocurrencymarkets

PEPE: Assessing the Memecoin’s Breakout as Bullish Momentum Strenghtens

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PEPE has broken out of a descending channel pattern with a heightened trading volume and price surge, suggesting a price reversal.

 

Following days of price downtrend, PEPE is flashing signs of a bullish price reversal. The memecoin has broken out of its descending channel formation on the 4-hour chart, surging 5.3% in price. According to CoinMarketCap data, the memecoin’s trading volume is steadily surging, and stands at 21.54%, at press time.

Looking at the chart, PEPE’s price has broken out and is consolidating above the $0.00000800 resistance zone, which acts as its new support. The breakout is confirmed by candles closing above its descending trendline as buyers step in, strengthening PEPE’s bullishness.

Source: TradingView

 

The MACD level (12,26), the short-term and mid-term moving averages flash “buy” as the bulls charge for a rally following the breakout. The Relative Strength Index (RSI) stands at 51 (neutral zone). This suggests PEPE buying has started, but the memecoin is not yet overbought.

Following this breakout, PEPE is poised for a rally towards $0.00000850 while targeting $ 0.00000900 in the long run. These are previous key resistance levels. One should watch for buying volume and derivatives data for further insights.

 

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BTC Institutional Adoption Wave: Revolut,Strive Capital, JetKing and More!

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May 7 Update: Institutional Bitcoin adoption is surging at an unprecedented rate as the King of Cryptocurrencies joins traditional balance sheets. Here is what’s up.

 

Bitcoin and crypto adoption are on the rise as governments and institutions seek to strategically position themselves in the digital assets market and the next financial revolution. On May 7, the market saw major institutions reveal their stance and plans in regards to BTC adoption. The following are today’s major updates:

  • Revolut, the $488 billion fintech giant with over 50 million user base, has revealed intentions to integrate the Bitcoin Lightning Network, enabling large-scale, faster and cheaper BTC transactions.
  • Jetking, a public Indian company, is raising billions to acquire 18,000 BTC as per its CEO, Harsh Bharwani, suggesting new Bitcoin Interest from Asia.
  • Strive Capital, the $2 billion firm backed by Ohio gubernatorial candidate Vivek Ramaswamy, plans to go public as a Bitcoin Treasury Company, starting with $1 billion worth of BTC

 

In other stories, the CEO of Strike, Jack Mallers, has told CNBC that Bitcoin is “humanity’s biggest tech opportunity”. According to him, BTC is targeting $500 trillion in global wealth. Additionally, Trump’s adviser, David Bailey, is reportedly raising $300 million for a Public Bitcoin Treasury Company, suggesting a heated institutional BTC adoption.

 

 

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BlackRock Weekly Bitcoin Accumulation Hits $2.5 Billion

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Blacrock has been accumulating Bitcoin at a high rate, signaling heightened institutional demand and adoption.

 

BlackRock, the world’s largest asset manager, with around $11.58 trillion in assets under management, has caught the market’s attention following its bold Bitcoin strategy. The institution’s rate of BTC acquisition has raised eyebrows as investors anticipate a bullish rally and potential market supply shock driven by demand.

According to on-chain data, Blacrock has acquired BTC worth $2.5 billion in just one week. In the past 7 days, there have been multiple transactions from Coinbase Prime to the IBIT ETF wallet, suggesting aggressive accumulation.

 

Source :X

 

What does this mean for BTC?

As traditional investors seek exposure to Bitcoin through ETFs, institutional acquisition of BTC is projected to rise in the following months.  With Bitcoin exchange supply draining steadily, the market could see a supply shock triggering a BTC rally towards the $100k mark and beyond.

Additionally, this suggests growing mainstream crypto adoption. Bitcoin is joining traditional balance sheets while positioning itself as a hedge against inflation and economic uncertainity.

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Kucoin BTC Reserves Plunge 77% After Mandatory KYC Announcement

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Kucoin exchange has seen its Bitcoin reserves drop by over 77% following a recent mandatory KYC requirement.

 

Kucoin, the Seychelles-based cryptocurrency exchange, resolved its criminal charges in January 2025, paying $3oo million in fines. This came after admitting to charges of operating an unlicensed money transmitting business while ignoring anti-money laundering protocols on its platform.  The worst crypto hack of the year 2020 left Kucoin bleeding $281 million in losses after a major security breach.

As a result of these challenges, Kucoin is trying to improve its Know Your Customer (KYC) checklist. This will require gathering more information about its exchange users and their operations. On-chain data by Cryptoquant has revealed that the exchange’s reserves have dropped 77.6% following a mandatory KYC policy.

 

Source: X

 

Bitcoin reserves have dropped from 18,300 BTC to 4,100 BTC, a 14,200 BTC outflow.  This is a significant outflow from a major exchange in the crypto market.

The drop in BTC reserves suggests that users have been reacting to strict compliance requirements and could be shifting to cold storage or other platforms. This is because privacy concerns and custodial risks are major considerations for crypto investors and enthusiasts on crypto service platforms.

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Ripple Increases Bid for Circle to $20B After $5B Offer Rejection

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Ripple Labs is reportedly increasing its bid for the stablecoin issuer, Circle, in a bid to increase its stablecoin market dominance.

 

Ripple Labs, the technology company offering blockchain-based payment solutions and the creator of the XRP ledger, has caught the market’s attention due to its strategic moves. The company is seeking dominance in the stablecoin market, potentially rivaling the current King of stablecoin, Tether. RippLe has recently issued its stablecoin RLUSD, backed 1:1 by USD reserves.

However, to gain significant market dominance, the company moved ahead to bid $5 billion to buy Tether’s rival, Circle. Following an offer rejection, Ripple is reportedly offering $20 billion to secure the USDC stablecoin issuer. According to Roundtable Network on X (formerly Twitter):

 

Ripple is going big – reportedly increasing its bid to #acquire #Circle from $5B to $20B after being turned down the first time.

Ripple could be poised for growth

Looking at the market sentiment, Ripple’s XRP has surged 4.76% over the past month, signalling rising investor confidence. Additionally, Whales have been accumulating XRP in the same period.

 

Source: X

 

Per the on-chain data, Whales have bought 900 million XRP coins in the past 30 days. Considering a positive outcome on the SEC Case against the company, Ripple’s on-chain data and fundamentals hint at long-term growth.

 

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Russia Ranks as the Most Profitable Bitcoin Mining Region Globally

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Russia has emerged as a very profitable Bitcoin mining region based on electricity and mining costs per BTC.

 

Bitcoin mining has been a profitable sector since the birth of the cryptocurrency market. However, as miner rewards decrease after every Bitcoin halving event and the cost of mining equipment rises, investors have to be strategic about their firm locations. This is due to varying costs of electricity, tax policies, and other factors that slash profit margins across different regions.

A recent report by NFT Evening has analyzed mining costs across different regions globally, considering electricity costs in each location. According to the data, Russia has ranked as the most profitable BTC mining region. It costs approximately $39k to mine 1 BTC, worth $95k in the current market price.

 

Source: NFT Evening

 

A country like Germany costs $230k while the U.S costs $85K per Bitcoin mined. There exists a significant profit margin for investors mining in Russia due to affordable energy, as Western nations face low cost-efficiency in the mining process.

Russia’s energy advantage could reshape the BTC mining industry and global hashpower distribution.

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Crypto Market Capital Inflows Surges $13.5 Billion in 10 Days

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The crypto market capital inflows have soared from 1.5 billion to $15 billion between April 19 and april 29 signalling new investor optitmism.

 

Global markets are flashing signs of economic recovery and stability driven by cooling trade war tensions. As a result, economic policies by national governments across the globe are providing liquidity in the market. The global liquidity index is projected to rise in the coming months. Historically, the crypto market tends to rise as investors consider risky and rewarding assets in their portfolio.

Recent data by Glassnode has revealed a major shift in the crypto market capital inflows. According to the on-chain data, the market capital inflows surged from 1.5 billion from  April 19 to April 29. Such a sharp spike in capital inflow signals heightened investor optimism towards digital assets.

Source X

 

The net position change for BTC and ETH has increased, signaling an accumulation phase among investors. Stablecoins have gained substantial inflows, suggesting fresh liquidity in the market, awaiting deployment in digital assets. The market could be gearing up for new highs and a significant comeback.

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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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Mastercard Launches Global Stablecoin Payment System

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Mastercard is set to onboard its 1.1 billion users in the crypto market and Web3 using an integrated global stablecoin payment system. Continue reading Mastercard Launches Global Stablecoin Payment System

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