Altcoin
Bitcoin Faces Threat As Spot Ethereum ETF Debuts: Peter Schiff
In a recent warning towards the crypto market, Peter Schiff says that Bitcoin faces a new threat as Spot Ethereum ETFs begin trading in the U.S. Schiff, known for his anti-BTC stance, has sparked significant debate among investors with his recent statements, highlighting potential shifts in market dynamics. Notably, the launch of Ether ETFs is seen as a game-changer by many, drawing substantial investor attention.
Peter Schiff Sounds Alarm Amid Spot Ethereum ETH Launch
Peter Schiff, a well-known Bitcoin skeptic, has issued a stark warning about the implications of Ether ETFs. In a recent post on X, he noted that the introduction of multiple Ethereum ETFs is a critical event for the cryptocurrency market.
According to him, the market could experience a “buy the rumor, sell the fact” scenario for Ether, which could impact ETH’s performance in the coming days. In addition, he highlighted that the advent of Spot Ethereum ETFs might lead to a bearish trend for BTC, as investors would reallocate their funds.
Meanwhile, the quick uptake of Ether ETFs supports Schiff’s concerns. Bloomberg’s senior ETF analyst, Eric Balchunas, reported an impressive $461 million trading volume within the first 90 minutes of launch. This substantial interest suggests that ETH ETFs are rapidly gaining traction, potentially at the expense of BTC.
Also Read: Worldcoin Taps JPMorgan-Backed Elliptic For World Chain Integration
What’s Next For Bitcoin?
The market’s reaction to Ethereum ETFs has been swift and significant. Experts like Anthony Pompliano believe that while Ether ETFs will boost ETH prices, the overall impact might be more subdued compared to U.S. Spot Bitcoin ETFs. Pompliano suggests that investors will likely use Spot Ethereum ETFs to diversify their portfolios, possibly adopting a 70/30 split between BTC and ETH.
Meanwhile, this diversification strategy is appealing to Wall Street, which typically prefers holding a mix of assets. The rapid uptake of Ether ETFs indicates that investors are eager to explore this new avenue. However, the true long-term impact of Bitcoin remains uncertain.
Notably, Schiff’s warning highlights a pivotal moment for the cryptocurrency market. As investors weigh their options, the competition between BTC and ETH is poised to intensify. Ethereum’s growing appeal could challenge the flagship crypto’s dominance, leading to significant market shifts.
Despite that, the recent robust outflow and rumors over Donald Trump announcing Bitcoin as a strategic reserve asset in the US have made BTC more appealing to traders. Having said that, if the rumors hold true, it could potentially boost BTC’s performance.
Meanwhile, as of writing, BTC price was down 2% and traded just above the $66K mark, with its trading volume declining 26%. On the other hand, Ethereum price dipped 1.4% to $3,412, despite the hefty inflow noted just after the ETF debut on Wall Street.
Besides, BTC Futures Open Interest (OI) also fell over 2.5%, indicating that the market is taking a cautious stance before putting further bets into the flagship crypto.
Also Read: XRP Lawyer John Deaton Slams Sen Warren’s Bill To Overturn Chevron Ruling
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.
Solana’s Jupiter exchange has announced the acquisition of SolanaFM and Coinhall at the ongoing 2024 Solana Breakpoint conference. The decentralized exchange (DEX) also announced the imminent launch of its Jupiter Mobile, which will help easily onboard millions of users into the Solana ecosystem.
Jupiter Exchange Acquires SolanaFM And CoinHall
The decentralized exchange has acquired the native Solana data explorer, SolanaFM. The DEX aims to use this move to increase its data and infrastructure capabilities, providing its users with real-time information. DappRadar data shows Jupiter is one of the largest decentralized trading platforms on Solana, and this move is expected to help increase its market dominance.
Jupiter has also acquired Coinhall, a leading aggregator on the Cosmos Chain. Coinhall will integrate its Solana integration into the exchange’s products as part of the acquisition. The aggregator will bring its expertise in “pro-trading terminals, real-time infrastructure, and cross-chain” to the Solana DEX.
Furthermore, the decentralized exchange and Coinhall have collaborated to launch the Ape’s Pro trading terminal, focusing on meme coin trading. The platform will feature real-time streaming of new tokens, data, and charts for traders. Traders will also enjoy “superior transaction execution through dynamic Jito fees and MEV protection.”
The Solana DEX also plans to launch the Jupiter Mobile soon to onboard millions of users into the Solana ecosystem. The platform will boast zero fees, and users can buy SOL using Apple Pay, Google Pay, or credit cards. The decentralized exchange further revealed that the platform will boast a one-tap swap feature, ensuring it is straightforward to buy crypto.
Other Notable Announcements At Solana Breakpoint
The decentralized exchange also announced the launch of the Metropolis API platform at the Solana Breakpoint to make building on the DEX much easier. The update includes the Swap, Price, and Token API, which anyone can access via Metropolis. The DEX added that the goal is to allow developers to easily integrate with Solana’s liquidity and build a sustainable business on the platform.
The Solana DEX has also launched the Jupiter RFQ to help improve Solana’s liquidity. This move will ensure that the DeFi platform continues to provide the best prices across all platforms.
RFQ delivers an avenue for market makers who use centralized exchanges like Binance to provide liquidity on Solana easily. This update is expected to go live with a beta version next week. The DEX revealed that they are also working on integrating it into the main platform’s Routing.
The DeFi platform already has a reputation as one of the top decentralized exchanges for leverage trading and is set to solidify its position with its perps v2 platform. The v2 platform features three significant updates. It will boast a limit order, Dove Oracle standard, and gasless transactions for Perps trading.
These updates undoubtedly provide a bullish outlook for the Solana ecosystem. The announcement comes just a day after Solana revealed its new Seeker mobile. Meanwhile, as Coingape reported, the ZK Compression is live on the Solana mainnet.
Boluwatife Adeyemi
Boluwatife Adeyemi is a well-experienced crypto news writer and editor who has covered topics that cut across DeFi, NFTs, smart contracts, and blockchain interoperability, among others. Boluwatife has a knack for simplifying the most technical concepts and making it easy for crypto newbies to understand. Away from writing, He is an avid basketball lover and a part-time degen.
Disclaimer: 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.
As the cryptocurrency market evolves, it’s becoming evident that hype alone can’t sustain a token’s value. This realization has led some of the largest Bonk (BONK) holders, known as “whales,” to diversify their portfolios by investing in GoodEgg (GEGG). Experts are now predicting a potential 100x return on GoodEgg (GEGG), with some of the most prominent Bonk (BONK) whales taking early positions in the token’s presale.
More Than A Memecoin: Bonk Whale Shift to GEGG
One of the largest Bonk (BONK) holders, previously known for their substantial investments in the meme coin space, has recently made headlines by becoming an early investor in GoodEgg (GEGG). This shift comes as Bonk (BONK) continues to face declining momentum, losing 2% in value over the last 24 hours, with weekly losses stacking up to 10%. The whale’s move reflects a growing sentiment that the current meme coin market is becoming oversaturated, with investors searching for projects that offer more than just speculative gains.
Bonk (BONK), once a rising star on the Solana network, has seen a significant reduction in trading volume, and many analysts believe that its future will depend heavily on finding new utility or partnerships to maintain investor interest. While the Bonk (BONK) community remains hopeful, the shift of whales to projects like GoodEgg (GEGG) highlights a growing trend among larger investors who prioritize long-term growth over short-term gains.
GoodEgg’s Strong Fundamentals
In contrast, GoodEgg (GEGG) offers more than just hype. It is a utility-driven project with an AI-based dating platform that leverages blockchain for security and privacy. The project’s innovative approach to online dating has sparked interest from investors who see it as a real-world solution with significant potential for user adoption.
GoodEgg’s presale has already raised over $495,000, showing that investors are eager to get in early on this project. The platform’s combination of blockchain security and AI matching technology provides a fresh approach in a saturated online dating market, which is expected to grow significantly in the coming years.
Experts Predict 100x Gains and Long-Term Scalability
Market analysts are now predicting that GoodEgg (GEGG) has the potential to generate 100x returns for early investors, particularly as its platform begins to attract more users and integrates additional features. The scalability of GoodEgg (GEGG) in the dating industry, combined with its AI-driven capabilities, gives it an edge over traditional meme coins like Bonk (BONK).
While Bonk (BONK) struggles to maintain its market position, GoodEgg (GEGG) is gaining traction among both retail and institutional investors. The whale’s entry into GoodEgg (GEGG) has further validated the project’s potential, with many now looking at it as the next big thing in the crypto space.
As the presale continues, those who missed out on Bonk (BONK) during its early days are now looking at GoodEgg (GEGG) as their next opportunity for massive gains. With strong fundamentals and a clear roadmap, GoodEgg (GEGG) is positioned to become a major player in the crypto market, leaving Bonk (BONK) in the dust as it builds a long-term, sustainable future.
Join GoodEgg (GEGG) For More Information On Presale, Use links below to join our community:
Visit GoodEgg (GEGG)
Telegram: https://t.me/GEGG_OFFICIAL
X/Twitter: https://x.com/GoodEggToken
FIDA and MEW, cryptocurrencies based on the Solana blockchain, saw noteworthy positive sentiment on Thursday as they secured vital listings. Solana Name Service (FIDA) secured a listing on Binance, whereas cat in a dogs world (MEW) scored a listing on Upbit. These listings have garnered significant attention globally as the tokens’ prices skyrocketed 25%-30% in tandem with the announcement.
Solana Tokens FIDA & MEW Secure Vital Listings On Binance & Upbit
According to official announcements by the mentioned exchanges on September 19, both the tokens are set to witness particular listings today. As per Binance’s official announcement, the crypto exchange is set to launch FIDAUSDT USD-Margined perpetual contract today at 12:30 UTC. Simultaneously, Upbit’s announcement revealed that it listed MEW with BTC and USDT pairs on the same day.
Intriguingly, Binance revealed that it listed FIDA with up to 75x leverage for users on the platform. Further, the crypto exchange set the capped funding rate at +2.00% / -2.00%.
Simultaneously, Upbit Korea listed cat in a dogs world within BTC and USDT markets. The Asian crypto exchange revealed that it will also add transaction support starting today.
The Solana coins listings have primarily sparked market optimism over future movements, paving the way for new money inflow into the tokens.
Tokens’ Prices Rocket Over 25%
Simultaneously, FIDA price gained nearly 45% against the backdrop of Binance’s listing announcement. The coin rested at $0.3243 today with an intraday low and high of $0.2204 and $0.3297, respectively.
Similarly, MEW price pumped nearly 26% to reach $0.00533 riding the back of Upbit listing. The coin’s 24-hour low and high were $0.00407 and $0.005728, respectively.
Meanwhile, the rising price action primarily aligns with today’s listing announcements, as seen with numerous tokens previously. CoinGape Media reported Kadena (KDA) price surged nearly 30% with its futures listing on Binance.
Also, another report reveals that PEPE and BRETT prices pumped notably on their listings on Upbit. Altogether, the exchanges’ listings rationalize today’s massive price gains.
Simultaneously, Coinglass data illustrated an 82% surge in MEW’s futures OI to $76.31 million. Additionally, the coin’s derivatives volume skyrocketed 531% to $735.63 million today. This surge has projected further optimism for the Solana-based token. Also, it’s worth noting that Solana (SOL) price upsurged 8% to trade at $140 today.
Coingape Staff
CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.
Disclaimer: 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 Price Battles Resistance Around $0.60: Will the Struggle End?
Jupiter Exchange Announces Major Acquisitions
Bitcoin Cash Price Jumps 15%: Is This Just the Beginning of More Gains?
Ethereum Price Reaches $2,500 Again: Will The Uptrend Hold?
$26 Million Stolen in BingX Hack Amid Ongoing Crypto Attacks
Bitcoin Price Pushes Higher As The Bulls Set Sights on $65K
TON Foundation’s Plan to Onboard 500 Million Users
Are Solana, Cardano, Polygon Commodities As US SEC Ends Ethereum Investigation?
CFTC Appoints Dr. Ted Kaouk as First Chief AI Officer
New And Upcoming NFT Projects
2.52 Million Altcoins Are Ruining Crypto’s Future
BLUR Is Down 30%, And Whales Are To Blame–Here’s Why
TON Foundation’s Plan to Onboard 500 Million Users
Are Solana, Cardano, Polygon Commodities As US SEC Ends Ethereum Investigation?
CFTC Appoints Dr. Ted Kaouk as First Chief AI Officer
New And Upcoming NFT Projects
2.52 Million Altcoins Are Ruining Crypto’s Future
BLUR Is Down 30%, And Whales Are To Blame–Here’s Why
-
Market3 months ago
TON Foundation’s Plan to Onboard 500 Million Users
-
Altcoin3 months ago
Are Solana, Cardano, Polygon Commodities As US SEC Ends Ethereum Investigation?
-
Regulation5 months agoCFTC Appoints Dr. Ted Kaouk as First Chief AI Officer
-
NFT3 months agoNew And Upcoming NFT Projects
-
Altcoin3 months ago2.52 Million Altcoins Are Ruining Crypto’s Future
-
NFT3 months agoBLUR Is Down 30%, And Whales Are To Blame–Here’s Why
-
Blockchain5 months agoHong Kong’s Securities Association Tips Authorities On Crypto Self-Regulation
-
Market3 months agoEthena (ENA) Whale Faces $13M Loss With 30% Token Drop
✓ Share: