Day: February 27, 2025

Brutal 20% Ethereum price sell-off is not over, but is there a silver lining for ETH?

admin

Ether (ETH) price stabilized near $2,300 after a sharp 20% drop over three days, hitting a low of $2,255. This decline shook market sentiment, as Ether hadn’t traded at these levels since October 2024. However, the ETH derivatives market is showing early signs of recovery and strength, suggesting a potential rebound to $2,800. Ether 30-day futures premium, annualized. Source: Laevitas.ch The 30-day ETH futures are now trading at a 7% premium over the spot market, up slightly from 6% two days ago. Premiums between 5% and 10% are considered neutral,…

Bitcoin on-chain indicators at bull-bear boundary, warns CryptoQuant CEO

admin

Key Takeaways Bitcoin on-chain indicators are at the bull-bear boundary, needing more data for trend confirmation. Ki Young Ju forecasts the bull market could extend until April 2025, despite current uncertainty. Share this article CryptoQuant CEO Ki Young Ju warned today that Bitcoin on-chain indicators are hovering at the bull-bear boundary and that the next month or two will be a key turning point for the BTC market. #Bitcoin on-chain indicators are at the bull-bear boundary. I expect this to be the longest bull run in history, but I could…

Pakistan considers ‘National Crypto Council’ to adopt digital currencies

admin

The Finance Ministry of Pakistan is considering forming a “National Crypto Council” to explore the legalization of cryptocurrencies in the country, according to a report from local publication Dawn. The change in position came after Finance Minister Muhammad Aurangzeb had a meeting on digital assets with a foreign delegation that included US President Donald Trump’s advisers. According to the report, the crypto council will be made up of key government representatives, regulatory authorities and industry experts. It will oversee policy development, address regulatory challenges, and ensure that the country’s crypto…

Texas Strategic Bitcoin reserve bill advances to Senate floor

admin

Texas Senate Bill 21 (SB-21), establishing a Bitcoin and cryptocurrency strategic reserve, passed the Texas Senate Banking Committee on Feb. 27 in a 9–0 vote and now advances to the Senate floor for further deliberation. The bill gives the Texas Comptroller of Public Accounts the authority to acquire, sell and trade any investment “that a prudent investor exercising reasonable care, skill, and caution would acquire.” The bill also read: “Bitcoin and other cryptocurrencies can serve as a hedge against inflation and economic volatility, and the establishment of a strategic bitcoin…

Bitcoin futures and spot ETF traders capitulate as BTC looks for a bottom

admin

Bitcoin’s (BTC) daily chart registered a bearish three-blind mice pattern over the past three days, taking BTC’s value outside the long-term established range between $110,000 and $90,000. Bitcoin 1-day chart. Source: Cointelegraph/TradingView Over the past 24 hours, Bitcoin tested the fair value gap, but BTC has struggled to establish bullish momentum from the $82,000 range low. Spot Bitcoin ETFs bleed $3.4 billion in February Between Feb. 24 and Feb. 27, Bitcoin registered a significant drawdown of 12.48%, which was accompanied by an extensive period of spot BTC ETF outflows. Data…

Pump.fun launches down more than 80% from peak

admin

Successful new token listings on memecoin platform Pump.fun are down more than 80% from January highs, according to data from Dune Analytics.  The daily number of tokens completing Pump.fun’s “bonding curve,” a prerequisite to listing on a decentralized exchange (DEX), is down to about 200 on Feb. 26 from as high as nearly 1,200 on Jan. 23 and 24, according to data from Dune Analytics.  Bonding involves bootstrapping trading liquidity in Solana (SOL) tokens directly on Pump.fun before a memecoin migrates to Raydium, Solana’s most popular DEX.  Overall Pump.fun token…

Bitcoin could hit $500K before Trump leaves office — Standard Chartered

admin

US President Donald Trump’s first month in office has been highly volatile for risk assets, but his administration will likely be a net positive for Bitcoin in the long run, according to Standard Chartered. In a Feb. 27 interview with CNBC, Standard Chartered’s head of digital assets research, Geoffrey Kendrick, said he expects Bitcoin’s (BTC) price to reach $200,000 this year before surging to $500,000 before President Trump concludes his second term. He cited growing institutional adoption and the potential for clearer regulations as positive catalysts.  Geoffry Kendrick responds to…

Changing political landscape brings huge crypto opportunity — US Rep. Steil

admin

The United States has a huge opportunity to embrace blockchain technology, Web3 and crypto through legislation under a changing political landscape, Representative Bryan Steil said during a Feb. 26 interview. “My broader philosophical goal here is [as a policymaker]: How do we make sure that the United States is in a position to out-compete the rest of the world?” Steil said in an interview with Chainlink Labs. “And while we do that, there are reasonable consumer protections and focusing on making sure that we are the leader in this environment,”…

Consensys and SEC reach agreement to dismiss MetaMask securities case

admin

Key Takeaways The securities watchdog has agreed to drop the lawsuit it brought against Consensys in June 2024. The crypto firm is eager to return their full focus to building and developing their technology. Share this article Consensys, the developer of MetaMask, has reached an agreement “in principle” with the US SEC to dismiss the enforcement case against the popular crypto wallet, Consensys founder Joseph Lubin announced today. The case will be formally closed upon approval by the SEC Commission. I’m pleased to announce that Consensys and the SEC have…

Sixth Street backs blockchain lender Figure with $200M investment

admin

Global investment firm Sixth Street has invested $200 million in Figure Technology Solutions, a US-based lender that uses blockchain technology to boost efficiencies and lower costs in the lending market.  According to a Feb. 27 report by The Wall Street Journal, the investment will allow Figure to issue up to $2 billion in new loans. It will also help the company expand into other lending markets.  Figure Technology primarily issues home improvement loans but also offers business loans and debt consolidation services. It also operates a personal lending business that…