Day: November 9, 2023

BlackRock’s move towards Ethereum ETF spurs crypto market surge

BlackRock takes initial steps toward an Ethereum ETF.
BlackRock’s move signals the growing institutional interest in cryptocurrency investments.
The SEC’s cautious stance on crypto ETFs presents regulatory challenges despite increasing industry enthusiasm.

On Thursday, the website for Delaware’s Division of Corporations revealed the registration of an “iShares Ethereum Trust.” This move closely mirrors the steps taken by BlackRock in June when the company filed for a Bitcoin ETF, with a similar notice for the “iShares Bitcoin Trust.” 

BlackRock has made first step towards filing for a spot Ether ETF. I just confirmed on the website myself. Nice catch by @SummersThings https://t.co/mLKIhKdiI6

— Eric Balchunas (@EricBalchunas) November 9, 2023

The iShares product, managed by BlackRock, holds a dominant position in the exchange-traded funds sector, boasting more than $2.3 trillion in assets under management. However, the company has not yet provided an official statement regarding its plans for an Ether ETF, leaving the cryptocurrency community and investors eager to learn more about the development.

Ethereum’s price surge

In response to the news of BlackRock’s potential interest in launching an Ethereum ETF, the price of Ethereum (ETH) experienced a 7% increase, reaching a value of over $2,000.

This surge is reminiscent of Bitcoin’s price movements when asset managers began pursuing ETF launches during the summer.

SEC’s stance on crypto ETFs

While BlackRock’s registration signals the increasing acceptance of cryptocurrencies within the financial industry, it is important to note that the U.S. Securities and Exchange Commission (SEC) has not yet approved a Bitcoin ETF.

Historically, the SEC has maintained a cautious stance and opposed the creation of such funds. Notably, the SEC had previously blocked Grayscale’s attempts to convert its Bitcoin trust into an ETF. However, a court ruling in August overruled this decision.

While the SEC did not appeal the court’s decision, it retains the authority to potentially halt Grayscale’s conversion or other Bitcoin ETF proposals for various reasons.

In the event that the SEC does approve Bitcoin ETFs, it is anticipated that Ether ETFs could follow suit, given that Ethereum is the second most popular cryptocurrency after Bitcoin.

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Kaspa (KAS) price soars to new all-time high amid spike in hashrate

Kaspa (KAS) price rose to $0.092917, a new all-time high.
Meanwhile, Bitcoin hit highs of $36,800 and Ethereum breached $2,000 amid BlackRock related sentiment.

Kaspa (KAS) price soared to a new all-time high on November 9 as the bullish momentum across the crypto market pushed most altcoins past key resistance areas.

As Bitcoin hit prices above $36,800 and Ethereum crossed the $2,000 mark, Kaspa’s native token skyrocketed from around $0.070986 to hit the all-time high of $0.092917.

Why is Kaspa price sharply up today?

The price of KAS has slipped after the ATH, currently trading around $0.086249 as profit taking across crypto follows the price spikes. However, KAS/USD is still 21% up in the past 24 hours, with the outlook for this proof-of-work cryptocurrency likely to strengthen to the upside.

This is because the proof-of-work (PoW) blockchain project tapped several positive catalysts in recent weeks. The latest is an integration with the OKX Wallet, which adds to other such collaborations with crypto platform Poloniex, Bybit and Coinone.

Also notable is the official listing of KAS on CoinMarketCap. Kaspa bulls have been quick to note the development, setting in motion speculation over whether major crypto exchange Binance is looking to add trading support for the token.

Such a move is likely to increase the buy pressure for KAS, as Kaspa’s fair launch means exchanges have to buy off the market to get the liquidity needed before listing.

Another signal of an upward trajectory is the network strength for this GHOSTDAG protocol. According to on-chain data, the network’s hashrate jumped to a new all-time high of 54.96 PH/s. Kaspas Genesis Block launched on November 7, 2021, meaning the spike in hashrate comes as the blockchain platform celebrates two years of steady development.

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SEC chair hints at FTX comeback, while Memeinator presales enter stage 6

SEC has suggested FTX revival if it follows the rules.

Memeinator has caught the attention of investors with its meme promise.

Memeinator will deliver a 132% ROI in its presale.

The controversial FTX exchange, which collapsed in late 2022, could be on its way to resurgence. SEC Chair Gary Gensler hinted at a possible reboot amid ongoing legal tussles. Of essence is the optimism the revival brings to a battered crypto sector. This allows quality projects like the upcoming meme project Memeinator to thrive. But how does FTX’s latest cryptocurrency news impact the investment landscape?

FTX reboot and what it means to the sector

Gensler’s comments come when several investors declare interest in buying FTX. In an interview during the DC Fintech Week, Gensler responded in regard to FTX. “If Tom or anybody else wanted to be in this field, I would say, ‘Do it within the law.”

The views of the SEC chair suggest a soft stance towards digital assets and cryptocurrency exchanges. The crypto firms have recently been in a running battle with the regulator since the FTX exchange. Coinbase and Binance are some of the firms that are currently battling it out with the SEC.

Gensler says the sector is littered with fraudsters, calling for more work to protect investors. The SEC chair has indicated that as long as FTX follows the law, there is no barrier to its rebirth. Former NYSE president Tom Farley is among the investors to express interest in buying FTX.

Gensler’s view reflects ongoing sector reforms calling for regulation and market control over cryptocurrencies. The inevitable market grip could clear the sector of uncertainty and give room for quality projects to thrive. Undoubtedly, Memeinator capitalises on this shift to position itself for domination in a new crypto era.

Memeinator: The ultimate meme crypto terminator

Think of catastrophic meme crypto failures, like the once famous squid game crypto. These rug pulls vanished with millions of dollars of investors’ money. But that is coming to an end, thanks to a new crypto sensation, Memeinator.

Forged from a futuristic society of 2077, Memeinator understands that not every meme deserves attention. Memeinator features cutting-edge AI technology that enables it to clean the meme sector. As such, Memeinator applies a ruthless meme-targeting system that identifies and crushes scamming memes. Non-original, weak, pathetic, and ugly memes will fall under Memeinator’s axe. 

Memeinator also has a goal to dominate and become the most popular meme cryptocurrency. The goal is to reach a $1 billion market cap, utilising powerful marketing assisted by AI. The team will invest in powerful branding and marketing to ensure everyone is talking about Memeinator. That includes tapping into influencer power to gain traction for the project. This way, the project will attain a huge market cap, generating high returns to investors.

Also, the team has lined up an exciting product portfolio to enable Memeinator to attain a high market value. These include a game, community NFTs, and a staking feature in favour of regular token yields for investors. The limitless opportunities endear Memeinator as an exciting meme project challenging for a top meme spot.

Is Memeinator’s presale attractive?

The worthy role that Memeinator plays in the meme sector is what could have attracted investors. In a few weeks since launching a presale, investors have bought over $1.2 million of the tokens. The presale is currently in Stage 6. At the end of the 29-stage presale, Memeinator will be set for listing on tier 1 exchanges. This makes the presale attractive to investors seeking to capitalise on early post-listing gains.

The ROI is also attractive for Memeinator presale buyers. The token joined Stage 1 at $0.01 and rose to $0.0133 in Stage 6. The presale ends at $0.0485, representing a 132% ROI for early investors. The exciting aspect is that the gains are made at each stage, making it attractive for investing early.

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Spot ETF optimism boosts Bitcoin to $37K while Shiba Memu presale buying interest grows

A potential spot Bitcoin ETF has raised optimism in crypto markets.

Shiba Memu has crossed the $4.4 million barrier in presale.

Shiba Memu could experience high speculation after the token is listed.

A renewed hope is creeping into crypto markets. Bitcoin tapped $37,000 on Thursday, its highest since May 2022, as investors placed bets on potential spot ETF. Meanwhile, the sentiment has boosted the rest of the sector, as most cryptos remained green. The sentiment is positive for upcoming digital assets like Shiba Memu (SHMU). 50 days before the presale closes, investors have bought over $4.446 million worth of the tokens.

Spot Bitcoin ETF increasing interest in risky assets

The prospect of the first spot Bitcoin ETF is seen as the primary driver of growing interest in digital assets. Optimism increased after reports the SEC had opened discussions with Grayscale for its spot ETF application. The development comes after Grayscale won a case ruling against the regulator over its spot product filing. 

Analysts are expecting a potential ETF approval will boost Bitcoin price. So far, market indicators suggest that a higher Bitcoin price is on the horizon. Bitcoin’s one-month call-put skew has risen above 10%. The level is the strongest bullish bias for the asset since April 2021. The metric measures call option prices in relation to puts expiring in a month. Calls outpacing puts is interpreted as a bullish bias.

The strengths of Bitcoin are positive for crypto as the asset sets the mood for the sector. As such, new projects like Shiba Memu are likely to generate more interest, boosting the post-listing prices.

Shiba Memu capitalises on meme interest

Meme cryptocurrencies are an exciting asset class. Although they often lag major cryptos when a bullish market sets in, their movement can be parabolic. This has seen investors buy the meme tokens in anticipation of these market moves for quick and high returns.

Shiba Memu seeks to capitalise on the trends in meme assets to generate high ROI for investors. However, unlike its peers, which experience frequent pumps and dumps, Shiba Memu seeks sustainability. 

As such, Shiba Memu taps into the rapidly growing world of AI. The project relies on AI to self-market itself and become powerful. For instance, the AI can scan the web to find creative ideas and write its own marketing copy. In the future, Shiba Memu will become more intelligent and powerful to deliver high ROI to investors.

Shiba Memu is a socially engaging meme project

One of the exciting aspects of memes is their ability to captivate the minds of their enthusiasts. Terms like the “Doge army” and “Shiba army” are common among enthusiastic meme communities. That’s because memes are mostly social projects and derive value from engagements and social chatter.

But unlike its predecessors, Shiba Memu takes the engagement game a notch higher. The project features an AI dashboard where users can hold meaningful discussions with the AI. They can query the AI about the latest in marketing strategies. They can also give suggestions on how to improve the project. The engagement ensures Shiba Memu dominates using social metrics, helping its value to grow. 

Is Shiba Memu a good investment?

Shiba Memu’s strong presale shows interest in the project is very high. The potential pst-listing gains are expected to be huge due to high speculations. Similarly, analysts have lauded the token as a potential 10x investment, given the investors’ interest.

Shiba Memu also features a very attractive presale. The token’s price rises daily at 6 PM GMT, delivering persistent returns to early birds. For example, while the token launched at $0.011125 price, it is now $0.039700. More gains are expected to increase during the remaining 50 days of the presale. 

Also, there are other noteworthy methods to generate passive income with Shiba Memu. These include a staking program. Investors earn yields from their staked tokens. This makes Shiba Memu a potentially viable investment for 2023 and beyond. 

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Zircuit, new ZK rollup backed by pioneering L2 research launches public testnet

Grand Cayman, CAYMAN ISLANDS, November 9th, 2023, Chainwire

Zircuit, a new zero-knowledge rollup backed by pioneering L2 research, today announced the launch of its public testnet. Zircuit is fully EVM compatible, supports existing Ethereum dApps and wallets and allows any dApp on Ethereum to deploy on Zircuit with minimal changes. To celebrate the launch, Zircuit will be hosting a multi-day event during Devconnect that begins on Monday, November 13th.

Over the last one and a half years, the Zircuit team has been pioneering various research initiatives such as rollup security tooling, rollup compression, and scaling cryptography. This work led to grants awarded by the Ethereum Foundation for Layer 2 (L2) research. Zircuit’s upcoming testnet synthesizes the team’s research advances and new technology to create an evolved L2 environment for developers.

Harnessing these research advancements, Zircuit uses a hybrid approach that combines the latest zero-knowledge proofs with optimistic infrastructure. More efficient proof generation results in reduced fees and the development of new compression algorithms increases transaction speeds and saves users gas. This state-of-the-art integration allows developers to move popular dApps directly over to Zircuit without making costly changes.

Zircuit provides the perfect place for developers to battle-test their dApps before launching on Ethereum mainnet. By having security at the sequencer level, Zircuit will block any malicious transactions while still allowing developers to see an attempt to hack. Transactions on Zircuit are cheap and setup on Zircuit takes minutes making it a quick, low-risk solution for developers who want to experiment.

The unique combination of rollup and ZK technology in Zircuit provides a streamlined experience for end users as well. Ethereum applications can seamlessly deploy onto Zircuit without learning a new programming language or framework which makes it so Zircuit can easily stay up to date when popular Ethereum applications have updates. This compatibility gives users the ability to enjoy the new features, speed, and cost benefits of these dApps without having to learn anything extra.

“Our research on rollups led us to create an L2 scaling solution that is breaking new ground and paving the way for a new generation of rollups. It’s taking the existing technology further and easing use for both developers and dApp users,” said Dr. Jan Gorzny, Head of L2 Scaling at Zircuit.

Zircuit invites developers and projects from across the web3 ecosystem to participate in its testnet. Projects will receive assistance and incentives such as onboarding, readiness support, and developer workshops.

During Devconnect, Zircuit is hosting a 4-day event where attendees will have the chance to learn more about the testnet launch, engage with the Zircuit team, and mingle with fellow members of the web3 community. Tickets are available at https://lu.ma/zircuitcafe.

To learn more about Zircuit, visit zircuit.com or read the developer docs at docs.zircuit.com.

About Zircuit

Zircuit is a fully EVM-compatible zero-knowledge rollup powering the limitless potential of web3. Backed by pioneering L2 research, the network’s unique hybrid architecture combines optimistic infrastructure with zero-knowledge proofs to give developers the best of both worlds. With cutting-edge performance and security at the sequencer level, users can explore new frontiers with faster transactions, reduced fees, and complete peace of mind.

To learn more visit: zircuit.com and follow Zircuit on both Twitter/X and Discord.

 

Contact

PR Strategist
Jessica Graber
Zircuit
jessica@zircuit.com

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Polygon price surges to 4-month high as Bitcoin hits $36.8k

Polygon’s price traded to $0.84, a level last seen in July.
Meanwhile, Bitcoin (BTC) climbed to $36,800 amid optimism around spot Bitcoin ETF approval.
MATIC is trading higher as continued whale accumulation adds buy pressure to the market.

Polygon (MATIC) price rose early Thursday morning to trade at highs of $0.84 on major crypto exchanges. 

The token’s nearly 6% price jump in the past 24 hours means the native token of the layer-2 Ethereum scaling platform reached a four-month high. The altcoin’s market cap has also increased to $7.6 billion, up more than 5.4% in the past three weeks.

Why is Polygon (MATIC) price up?

Polygon’s price has returned to levels last seen in July as cryptocurrencies hit $1.4 trillion in global market cap and 24-hour trading volume of $77 billion.

Meanwhile, Bitcoin (BTC) price climbed to above $36,800 as the optimism around the ecosystem increased. Analysts are bullish on the flagship crypto amid possible catalysts in spot Bitcoin ETF approval and BTC block reward halving in 2024.

For MATIC, the latest dose of upward sentiment comes amid continued whale accumulation. Polygon whales with between 100k and 10 million MATIC have bought an additional 42.88 million tokens since October 24, market intelligence and analytics platform Santiment noted in a post on X.

📈 With #altcoin milestones continuing to fire off, #Polygon has steadily risen back to $0.80 and increased its market cap by +54% in just 3 weeks. And in the past 2 weeks, the key wallets holding 100K-10M $MATIC have supported this rise by accumulating. https://t.co/i7lMmBgRbX pic.twitter.com/dWGXJ8CzOK

— Santiment (@santimentfeed) November 9, 2023

A total of 161 transactions valued at over $100,000 in one day highlights the appetite by large holders to accumulate the token. The overall outlook is that this trend has coincided with the price of MATIC picking upside momentum.

If bulls lock onto the next target at $1.00, its possible MATIC/USD could rally to year-to-date highs of $1.54 reached in February. The token’s all-time high of $2.92 was reached in December 2021.

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Huobi Token (HT) rises amidst increased trading volume

Huobi Token (HT) rises to a five-month high.
Today’s surge has broken a 12-month downtrend.
Daily trading volume for HT reaches $33.1 million, the highest in months.

The native cryptocurrency of crypto exchange HTX, Huobi Token (HT), has seen a remarkable surge in its price, reaching a five-month high of $3.035.

This sudden price increase comes on the heels of a period where HT experienced a persistent 12-month downtrend. In 2021, HT reached an all-time high of $34.80 but has struggled to regain that momentum.

Huobi Token price chart

 

Record-breaking trading volume

The surge in Huobi Token’s price is accompanied by a substantial increase in its trading volume.

Daily trading volume for HT has hit $33,120,880, marking the highest volume trading day since February. This significant uptick in trading activity is a stark contrast to the previous week when trading volumes ranged between $2 million and $5 million, with HT trading around $2.40.

Most of this recent trading activity took place on the HTX exchange itself, with the HT/USDT trading pair reaching $26 million in volume over the past 24 hours.

The exact reasons behind this surge remain uncertain. Huobi advisor Justin Sun in an address to a leading media outlet has expressed his lack of knowledge regarding the cause. 

However, this surge coincides with a broader sense of optimism in the altcoin market, likely driven by hopes for the approval of a spot Bitcoin (BTC) Exchange-Traded Fund (ETF) by the US Securities and Exchange Commission (SEC).

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