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ETHFI Price Jumps 7% Amid Major Ether.fi Listing Update
In the dynamic cryptocurrency market, Ether.fi (ETHFI) has surged 7% following a major listing update on Paribu Box. This development marks a significant milestone for ETHFI, highlighting its growing relevance and potential within the digital asset landscape. Let’s explore the implications of this update and the future prospects of Ether.fi (ETHFI).
ETHFI Price Surges Amid Paribu Box Integration
Amidst significant developments in the cryptocurrency market, the price of ETHFI surged by 7% following a major listing update on Ether.fi. Deposits have commenced on Paribu Box for ether_fi (ETHFI), marking a significant milestone for traders and investors alike. This surge in price underscores the growing interest and confidence in Ether.fi’s ecosystem. Investors are increasingly recognizing the potential of ETHFI as a valuable asset within the digital currency landscape.
Paribu Box, created to facilitate the buying and selling of crypto assets belonging to projects in their early development stages, has added considerable value to ETHFI. Their support for ETHFI reinforces its credibility and potential within the market. Paribu Box’s stringent selection criteria, focusing on promising early-stage projects, further validates the significance of ETHFI’s listing update. This integration not only expands ETHFI’s accessibility but also enhances its reputation among traders and investors seeking promising investment opportunities.
Also Read: Binance, KuCoin Becomes India FIU-Registered Crypto Exchanges
Current State and Future Prospects of Ether.fi (ETHFI)
As of today, May 10th, Ether.fi (ETHFI) is priced at $3.91 with a 24-hour trading volume of $121.3 million. This represents a remarkable 6.26% increase in the last 24 hours and a 6.07% increase over the past 7 days, signaling strong bullish momentum. With a circulating supply of 120 million ETHFI, Ether.fi boasts a market cap of $450.2 million.
Furthermore, ETHFI Derivatives Data Analysis reveals impressive figures, with volume soaring by 7.93% to $315.06 million and open interest increasing by 8.52% to $91.30 million. The Relative Strength Index (RSI) stands at 62.39%, indicating robust growth potential. Ether.fi’s roadmap highlights plans for Stake, Liquid, and Cash products aimed at enhancing the DeFi user experience. These innovative products simplify staking, liquidity provision, and digital currency transactions, positioning Ether.fi as a frontrunner in DeFi innovation.
The unique features of Ether.fi, such as its liquid restaking protocol on Ethereum, distinguish it from other DeFi protocols. Offering a non-custodial approach and allowing users to retain control over their keys, Ether.fi minimizes counterparty risk. Users receive eETH tokens for staking ETH or other liquid staking tokens, which are automatically restaked on EigenLayer for profits.
Also Read: EigenLayer Token Sparks Frenzy, Excludes US and China Users
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Chainlink whales have taken the crypto market by storm, accumulating colossal amounts of LINK amid a weekly correction taken by the token. In a post shared by the renowned crypto market analyst Ali Martinez today, July 8, it was pointed out that whales bagged a staggering 6.2 million LINK over the past week.
This on-chain data has glimmered significant optimism on the crypto’s future price run. Here’s a brief report on the data and why it adds a bullish tint to LINK.
Whales Sack $76M Worth Coins
According to data spotlighted by Ali Martinez, Chainlink whales took action to hoard over 6.2 million LINK, worth $76.88 million, in the past seven days. LINK’s weekly chart illustrated a 9.71% fall at press time, with price dipping as low as $11.17 in the past seven days, per CoinMarketCap’s data.
This waning price action appears to have urged a potential buy-the-dip strategy among crypto market whales, driving the abovementioned accumulation. Usual market sentiments convey optimism for the crypto, hinting at large-scale investors’ confidence in the asset’s potential to pump ahead.
Meanwhile, recent data by Santiment highlighted that LINK’s 30-day MVRV rested at 11.1%, hinting that the asset is an opportunity zone. For context, the lower the MVRV, the more undervalued an asset, paving the path for buyers to enter the LINK market and pump the coin.
Also, despite the weekly dip in price, LINK has regained an upward momentum today, aligning with the accumulations and MVRV.
Also Read: XRP Whale Moves 37M Tokens As Lawyer Reveals Ripple Vs SEC Timeline
LINK Price Soars
At press time, the LINK price showed a 4.71% upswing in the past 24 hours and is currently resting at $13.44. The token’s 24-hour slumps and peaks were $11.83 and $13.44, underlining the presence of turbulency in tandem with broader market trends.
Nonetheless, Coinglass data spotlighted a market uptrend for Chainlink, as its Futures OI and derivatives volume surged remarkably. LINK’s OI jumped 5.60% to 157.16 million, whereas the derivatives volume surged 56.70% to $423.68 million. This data indicated increased investor interest in the asset and increased derivatives market activity.
However, the RSI rested along the 46 mark, hinting at broader asset neutrality. This hints at an uncertain movement for the token ahead, although on-chain data has projected a ray of optimism on the coin’s long-term prospects.
CoinGape Media’s recent price analysis hinted that Chainlink (LINK) price might even be poised to hit $20 amid bullish support gained by on-chain factors.
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The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
With all eyes on a spot Ethereum ETF approval for listing and trading by the U.S. SEC, experts predict high odds of approval this month. Crypto financial services firm Matrixport believes the Securities and Exchange Commission might approve Ether ETF by this week as the deadline for issuers to submit amended S-1 filings is Monday.
Ethereum ETF Approval Likely This Week
In a new update on July 8, Matrixport reported that the SEC will likely approve Ether ETF this week. The United States will have an exchange-traded fund tracking the spot price of Ethereum.
Matrixport expects swift progress similar to May when the SEC suddenly asked spot Ethereum ETF issuers to revise their applications. After 19b-4 filings by issuers, the SEC instantly approved them in the next three days. The S-1 applications were probably delayed due to the July 4 holiday and the long weekend.
CoinGape reported that the SEC delayed Ethereum ETF launch with a few comments, pushing the S-1 deadline to July 8. ETFstore President Nate Geraci said the last round of S-1 revisions was quite “light” and believes Ethereum ETFs will start trading in the next two weeks.
BlackRock, Fidelity, Grayscale, Hashdex, VanEck, and Invesco are anticipated to submit S-1 filing to the U.S. Securities and Exchange Commission (SEC).
Also Read: EtherFi Foundation Buys ETHFI, Passes Major Staking Proposal On Ethereum Mainnet
ETH Price To Witness Massive Rally?
Matrixport predicts a recovery in Ethereum price to $3,400 after the approval by SEC. The company forecasting a nearly 12% sharp jump based on analysis that ETH price rallied 20% after the SEC approved 19-b filings.
Whereas, $725 billion asset manager Bernstein earlier gave a long-term ETH price target of $6,600. The firm reported that ETH will reach this price after spot Ethereum ETFs approval by the SEC. Notably, the estimate is based on a 75% rally in Bitcoin products in January following weeks of ETFs approval. Bernstein analysts expect a similar price action for Ethereum.
ETH price rose 2% in the past 24 hours, with the price currently trading at $3,068. The 24-hour low and high are $2,826 and $3,090, respectively. Furthermore, the trading volume has increased further by 57% in the last 24 hours, indicating a rise in interest among traders.
Also Read: XRP Whale Moves 37M Tokens As Lawyer Reveals Ripple Vs SEC Timeline
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
XRP is showing signs of a strong recovery, buoyed by substantial whale accumulation and renewed investor confidence. Having dipped below $0.41 recently, XRP has rebounded to around $0.44, reflecting a positive shift in sentiment.
Meanwhile, this resurgence is driven by notable market movements, including a significant purchase by a whale and speculation surrounding Ripple’s ongoing legal battle with the U.S. SEC.
Whale Accumulation Sparks Market Optimism
The crypto community has been abuzz with reports of a massive XRP accumulation by a whale identified as “rPz2q…N4iNf.” According to Whale Alert, this whale acquired 300 million coins from Binance, worth approximately $130.13 million. Such significant purchases often signal confidence in a crypto asset, potentially indicating expectations of future price increases.
Meanwhile, this whale activity comes amid broader market turbulence, where recent crashes have created buying opportunities for investors. Pro-XRP lawyer Bill Morgan recently stated that he has increased his XRP holdings during the price dip.
Besides, Morgan also mentioned his plans to accumulate more if prices decline further, highlighting a bullish outlook among XRP enthusiasts. In addition, the ongoing legal saga between Ripple and the U.S. SEC has added another layer of intrigue.
The anticipation of Ripple soon achieving a favorable outcome has fueled speculation and optimism among investors. Historical patterns suggest that positive legal developments have previously led to robust gains for XRP.
Having said that, investors are now closely watching for any signs that could signal the conclusion of this high-profile case, potentially driving further price recovery.
Also Read: Solana Outperforms Ethereum Amid $441M Money Inflow Into Crypto
XRP Price Soars
The Ripple vs. SEC case continues to be a focal point for the XRP community. Anticipation around the possible conclusion of this legal battle by July has heightened market interest.
On the other hand, the XRP enthusiasts argue that the crypto has reached a price floor, suggesting it is poised for a rally. Bill Morgan noted that favorable rulings in the past have significantly boosted XRP’s price, and a similar outcome in the current case could yield comparable results.
The market’s attention is also on Judge Torres, who previously issued a ruling that positively impacted XRP holders. A favorable decision for Ripple could potentially replicate those gains, boosting investor sentiment and driving the price higher.
During writing, XRP price soared past the $0.44 mark with an increase of 1.55%. The crypto has touched a low of $0.4047 in the last 24 hours. Furthermore, its trading volume rocketed 86% from yesterday to $1.33 billion.
Besides, CoinGlass data showed that XRP Futures Open Interest recovered from yesterday, potentially indicating that the market is regaining confidence towards the crypto.
Also Read: Ronin Network Adds PHPC Stablecoin, Boosting Filipino Crypto Adoption
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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