News
Stay up-to-date on the most trending topics in crypto with our professional and in-depth news.
GameStop-themed memecoins GME and Roaring Kitty spiked 10% and 42%, respectively, in the past 24 hours. In the same period, GameStop’s stock fell around 20% to $22.22 per share. The firm posted net sale losses in first-quarter preliminary results on Friday.
May spot bitcoin ETF inflows have already made up for April’s negative outflows, notes senior ETF analyst Eric Balchunas.The last two months exhibit why traders shouldn’t get “emotional” over inflows and outflows; it’s a “part of ETF life,” he adds.
Zksync said Friday in an X post that it would soon roll out its v24 upgrade, as it aims to further decentralize its protocol this summer. The announcement fueled rumors that an airdrop from the Layer 2 solution could come as early as June.
The macro environment remains a key driver for crypto performance, evidenced by the rebound in bitcoin prices after April’s softer CPI print, a Coinbase report said.
Bitcoin is dishing out the bull signals on lower timeframes, but can BTC price action overcome key resistance?
Coinbase analyst David Han said the market may be “underestimating” the timing and odds of a potential spot Ethereum ETF approval.The mismatch leaves room for “surprises to the upside,” with no major sources of supply-side overhangs, he added.
- 12:34Research: Central Banks Worldwide Should Adopt Bitcoin as a Reserve AssetNews on October 27, according to Cointelegraph, the Bitcoin Policy Institute recently published a paper titled "The Case for Bitcoin as a Reserve Asset". The paper argues that central banks around the world should adopt bitcoin as a reserve asset to hedge against rising inflation, geopolitical risks, capital control risks, sovereign defaults, bank failures and international sanctions imposed by the U.S. government. The author of the paper, economist Matthew Ferranti believes that due to the weak correlation between decentralized assets and other financial instruments, bitcoin is an "effective portfolio diversification tool". Bitcoin lacks counterparty risk and can effectively hedge against sovereign default (including financial sanction risk), which Ferranti refers to as a "selective default", affecting countries like Venezuela and Russia. Ferranti clarified that allocating bitcoin and gold may not be the answer for every central bank; however, emerging digital assets have value storage and hedging properties similar to gold - especially in cases of rapid currency depreciation.
- 12:28Top trader Eugene: The market will continue to rise after the election, bullish on SolanaTop trader Eugene Ng Ah Sio analyzed the current market situation on social media as follows: 1. The speculative long positions in October have basically been wiped out. 2. I believe most people plan to avoid risk in the election about a week after November 5th. This catalyst just advanced the time by a few days (which is why I was defensive a few days ago.) 3. Considering everything that's happening on Solana today, since the AI memecoins craze, SOL is undoubtedly a clear asset choice. 4. From a technical analysis perspective, SOL has retested its resistance level of six months and turned it into support after showing extreme relative strength, which is where to buy in. Now that positioning is clear and prices have risen sharply, we think we can continue an upward trend after the election.
- 12:27Su Zhu: Already long on ETH and SOLSu Zhu posted on X stating that he has gone long on ETH at $2475 and long on SOL at $175.
