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Coinbase Institutional has officially filed with the U.S. Commodity Futures Trading Commission (CFTC) to self-certify futures contracts for XRP through its subsidiary, Coinbase Derivatives. This filing aims to launch XRP futures on April 21, 2025, offering both institutional and retail investors a regulated way to gain exposure to XRP in a more capital-efficient manner.

The filing marks a significant development for XRP’s broader market acceptance, especially in regulated environments where futures contracts provide both liquidity and opportunities for risk management.

XRP Futures: Regulatory Developments and Market Entry

Through self-certification with the CFTC, Coinbase is allowed to bring in XRP futures without waiting for an explicit green light from the agency, so long as it complies with the necessary rules. This approach is normally used by exchanges especially when they are introducing new corporate securities in the market place.

In launching XRP futures into its product line, Coinbase Derivatives is placing into the market a new structured trading product, which may enhance the liquidity and invite more institutional investors into the asset.

We're excited to announce that Coinbase Derivatives has filed with the CFTC to self-certify $XRP futures – bringing a regulated, capital-efficient way to gain exposure to one of the most liquid digital assets.

We anticipate the contract going live on April 21, 2025.

Stay tuned… pic.twitter.com/nKUPjjnMKW

— Coinbase Institutional (@CoinbaseInsto) April 3, 2025

The futures contracts are useful for the purposes of hedging or speculation, they can make XRP more accessible to new investors.

At the same time, one of the largest US-based crypto exchange, Kraken, incorporated Ripple USD (RLUSD) among cryptocurrencies traded on the platform. Before that list, RLUSD was available only in Bitstamp exchange. The integration of Kraken into the list of XRP trading platforms increases trading volume in the asset and deepens the pool of institutional actors interacting with the asset.

XRP Price Trend Amid New Futures Announcement

At the time of this writing, various technical levels was observed for XRP. Earlier last night, in a live stream, experts pointed out that XRP price tested .382 retracement level which was a major resistance level. This level was tested on the higher end before being rejected and the current focus now lies at the possibility of a downside towards the $1.95 price level.

Lately, $1.90 has been considered as another important support level, and in case of the XRP drop below this level, further correction should be expected. However, if XRP manages to establish or maintain a price above these levels, it can be expected that the market is positioning for a bounce, especially if there is the bullish RSI divergence.

Source: X

Consequently, the next XRP price move is critical. A successful retest of these lower levels, coupled with signs of strength from the relative strength index (RSI), could suggest that XRP is nearing a bottom before a potential breakout. If the price holds steady at $1.90, a strong rally into a new wave higher may be on the horizon.

Community Reaction To Coinbase Filing

Although the filing has attracted attention, it has also caused controversies in the cryptocurrency community. Coinbase first publicly mentioned the futures product as “Ripple futures” in a now-removed tweet which angered XRP holders.

This confusion occurred because Ripple is the name of the company that developed the XRP blockchain, XRP on the other hand refers to the token itself.

A user by the name of Adam on X (previously twitter) was able to differentiate the two and wrote to Coinbase asking them to edit the terms. In his response, he stressed that one should differentiate between Ripple and XRP by stating that “Ripple is a private company while XRP is its digital asset,” he said. Coinbase immediately amended the error and confirmed that it is actually offering XRP futures.

Meanwhile, late last month, Crypto Options and Futures Exchange Bitnomial announced the launch of its XRP futures contract. This new product has been on the exchange’s radar since at least October 2024.

The post Coinbase Institutional Files To Launch XRP Futures With CFTC appeared first on CoinGape.

3 Apr 2025, 8:04 pm

While predictions for Cardano to $1 may seem like a far cry, a cryptocurrency expert has injected new life into the claims. Cardano’s price is headed below 50 cents in search of a new support zone that can serve as a springboard to reach new highs.

Cardano Price Can Still Clinch $1 Despite Price Slump

Market technician Jonathan Carter in an analysis on X predicts that Cardano’s price can reclaim the $1 price point in the coming months. According to Carter, the recent ADA correction will not be a hindrance for Cardano’s price to reach $1.

ADA has lost a jarring 13% over the last week and trades at $0.64 in an unremarkable week for the cryptocurrency. On the daily charts, prices have generally moved sideways, underscoring a lack of investor enthusiasm.

For Carter, Cardano’s recent decline has seen it fail to stay above the $0.65 support level. The analyst opined that a downtrend is the offing for the Cardano price that could see a new support zone of $0.59. Carter says the new $0.59 support zone will hurl Cardano price to reach $1.

“Despite the long correction, the price still has a chance to bounce off this support and rise towards $1,” said Carter. “Otherwise, we will fall to the lower border of the broadening wedge.”

While some investors are eyeing an ADA bounce to $0.70, a plausible play will be a slump below $0.60 before the start of a rally.

A Slew Of Positives For ADA

Despite the pervading negative sentiment around ADA price, the cryptocurrency has a wave of positive fundamentals going for it. Cardano price spiked following Charles Hoskinson’s confirmation of Ripple’s RLUSD on ADA.

Furthermore, Charles Hoskinson reveals that Cardano will play a major role in Bitcoin decentralized finance (DeFi) application. In more positive technicals, Cardano price is forming a cyclical pattern from 2024 that can send prices to astronomical proportions in May.

While the prediction pegged prices at $2.5, optimists say ADA price to $10 is not a crazy hypothesis. The report cites present solid fundamentals and ADA’s over 1,000% spike to set its all-time high back in 2021 as pointers for the seismic rally to $10.

 

The post Cardano Price Can Clinch $1 As It Eyes Bounce From New Support Zone appeared first on CoinGape.

3 Apr 2025, 6:51 pm

Despite the general digital assets market downturn, Binance Coin’s (BNB) price has held strong. The market outlook shows that while other coins like Bitcoin, Ethereum, and Solana have reached new lows after a recent selloff, BNB’s price has maintained its resilience. Per its price outlook and ecosystem trend, the possibility of the coin reclaiming its ATH price appears high.

BNB Price Outlook and Growth Catalyst

As of press time, CoinMarketCap data show that Binance Coin was trading at $587.96, down 2.77%. Amid the market rout, BNB’s price recovered from its low price of $579.44 to its current level. Despite the downturn, the coin’s trading volume jumped by 28.03% to $2.22 billion in the last 24 hours.

On April 1, $115 billion asset manager VanEck filed for a BNB ETF, the latest among its list of crypto ETF filings. This move helped give BNB a major headstart at the start of the month.

BNB’s recent price performance was driven by its utility within the Binance ecosystem, which is understandable given the coin’s ties to the Binance ecosystem.

According to reports, since February, BNB Chain has benefited from an increase in Total Value Locked (TVL), rising activity in decentralized finance (DeFi), and growing daily active users (DAUs) on BNB Chain.

Binance Coin Validation Amid Market Weakness

In a recent post on X, market analyst Elja shared his review of BNB’s prospects amid the ongoing market rout. 

BNB’s price has decoupled from the performance of Bitcoin, Ethereum, and top altcoins. While these assets have printed new lows from their high price points, BNB remains 18% higher than that level. 

As he noted, this strong performance is driven by speculation and BNB’s real utility. The coin serves as the fuel for Binance and BNB Chain. Since February, BNB Chain has experienced growth in TVL, daily active users, and DEX volumes. 

Elja’s post disclosed that Binance handles 44% of global crypto trading volume. This presents a solid foundation that can power BNB’s growth. 

What Next for Price?

According to the current update, the Binance Coin is at a crucial spot. In an earlier Binance Coin price analysis, analysts laid out conditions for the coin to hit a fresh ATH of $720. For this to happen, the Binance-linked asset must maintain sustained support above $600.

However, there are concerns that regulatory challenges could pose risks, and the coin may need to continue to prove its value in the Binance ecosystem. 

While the future remains uncertain, BNB could reach $700 by the end of 2025 per projections. However, the possibilities around the asset leave room for surprises.

The post BNB Price Can Reclaim ATH If This Trend Plays Out appeared first on CoinGape.

3 Apr 2025, 2:23 pm

Shiba Inu price is on a strong bearish trend, with price indicators recording losses in all time frames. The highly popular meme token now threatens to add an additional zero to its value if the current bear run continues for much longer. Even with Shibarium, SHIB’s layer-2, reaching the milestone of 1 billion transactions recently, the token’s price has not responded positively to this milestone.

Falling Shiba Inu Price Affects Holder Profitability

According to current data, SHIB is down 4.6% in the past 24 hours, 14.7% over seven days and a substantial 54.9% over the past year.

The current context for the SHIB price appears tough for the majority of investors. Based on on-chain analytics, 62% of SHIB investors are at the moment in a loss, while merely 34% are in profit and 4% are breaking even as per IntoTheBlock data.

SHIB has fallen 85.9% from its all-time high of $0.00008616 on October 28, 2021, over three years ago. This extended period of decline has made many of the investors who bought during the bull run in 2021 underwater on their holdings.

The token reflects a high ownership concentration with 74% of SHIB owned by major holders. The concentration may be behind price volatility. This is due to the fact that the moves by the large holders tend to have disproportionate impacts on the market. Major volume trading in the last week has hit $184.02 million which indicates sustained activity even as the price goes down.

Shibarium Milestone Fails To Reverse Trend

Despite Shiba Inu’s layer-2 scaling solution, Shibarium recently achieved a major milestone of 1 billion transactions. However, this accomplishment has not translated into positive price action for SHIB. This disconnect between ecosystem development and token price shows the current market’s focus on overall trends rather than project-specific achievements.

Shibarium is a key component of the Shiba Inu ecosystem that focuses on reducing transaction fees, increasing processing speed, and enabling more advanced applications within the SHIB ecosystem.

The continued negative price action despite reaching such a substantial transaction milestone raises questions about what catalysts might eventually reverse SHIB’s downward trend.

Will Shiba Inu Token Burns Aid In Price Pump?

The Shiba Inu community has historically highlighted token burns as one possible method of driving scarcity and price support. Recent burn behavior has been spotty and inadequate to have any real effect on the enormous Shiba Inu token supply.

After a recent spike in burn rate of more than 12,000%, the last 24 hours have seen the burn rate decline by 60%. During this period, only 37.6 million SHIB tokens were removed from circulation as per Shibburn data.

Token burns continue to be a mainstay narrative among the SHIB community. However, the volume of burning has to rise in order to have an effect on the token’s supply that can be measured. The 17.88% hike in trading volume in the last 24 hours to $311.14 million gives some indications of market action. This potentially could be being driven by the larger holders stockpiling at lower prices.

The post Here’s Why Is Shiba Inu Price Crashing Daily? appeared first on CoinGape.

3 Apr 2025, 1:33 pm

Crypto analyst CasiTrades has provided a roadmap for the XRP price, revealing what could happen before the altcoin reaches a new all-time high (ATH). Based on her analysis, XRP could still witness a price decline before it potentially rallies past its current ATH of $3.4.

XRP Price Could Drop To $1.9 Before Rally To New Highs

In an X post, CasiTrades stated that in the event of a deeper flush, the XRP price could wick down to $1.90, suggesting that the altcoin could visit this low before it rallies to new highs. She believes XRP will ideally hold above this $1.90 and avoid dropping to new lows.

The crypto expert noted that the next move is critical. She claimed that if XRP gets that flush with bullish RSI divergence, it could mark the bottom before the altcoin rockets into Wave 3. However, CasiTrades warned that a break below $1.90 could force a reset of the entire new trend count.

Meanwhile, there is still the possibility that the XRP price might not drop to as low as $1.90. CasiTrades stated that $1.95 is the prime target, with subwaves heavily aligning there and a drop to $1.90 only likely to occur in the event of a deeper flush.

It is worth mentioning that US President Donald Trump recently announced reciprocal tariffs on all countries, a move which is set to ignite a global trade war and is bearish for XRP and the broader crypto market. As such, this development could be what sparks the deeper flush and send the altcoin to as low as $1.90.

A Drop To $1.4 Is Also The Cards

In an X post, crypto analyst Brandon asserted that the XRP price is about to have a massive breakout, to the downside. His accompanying chart showed that XRP could drop to as low as $1.4.

On the other hand, crypto analysts such as Ali Martinez have provided a bullish outlook for the XRP price. In an X post, he stated that XRP could be setting up for a rebound. The analyst further remarked that the altcoin is holding above $2 while the TD Sequential flashes a buy signal.

Crypto analyst Javon Marks also recently predicted that Ripple’s coin could surge 44x and reach as high as $99. He alluded to the 2017 bull run as the reason why he is confident that the altcoin could record such a parabolic rally.

The post Expert Reveals XRP Price Could Drop To $1.90 Before Rally To New Highs appeared first on CoinGape.

3 Apr 2025, 1:02 pm

Genius Group, a Singapore-based education and technology company, must sell its Bitcoin holdings following a US court order. The decision is part of its legal dispute that has blocked the company from raising funds, issuing shares, or making further Bitcoin purchases. 

The Genius Group Lawsuit

In a major development, a United States court ruling has placed strict financial restrictions on Genius Group, preventing it from issuing shares or raising capital. 

The firm’s announcement shows that the American District Court for the Southern District of New York approved a preliminary injunction halting its ability to generate revenue through stock sales.

The dispute was a precedent from a collapsed agreement between Genius Group and Fatbrain AI. Genius attempted to cancel a deal with Fatbrain AI, leading to fraud accusations from shareholders and an SEC investigation. 

The legal dispute, as described by the firm, has now come with a Temporary Restraining Order (TRO), blocking access to investor funds and forcing the company to start selling its Bitcoin holdings.

Reports indicate that Moe and Ritz were accused of orchestrating a scheme to extort millions from Genius Group by misusing legal processes, including the Temporary Restraining Order (TRO) and Preliminary Injunction (PI). On February 14, 2025, they filed for a TRO and PI to prevent Genius from selling any shares, raising funds, or utilizing its $150 million ATM funding, specifically blocking the purchase of Bitcoin. 

As a result, the court placed a temporary restraining order on Genius Group, blocking access to investor funds and forcing the company to begin selling its Bitcoin holdings.

Unfortunately, Genius Group said its BTC reserves have dropped from 440 BTC to 430 BTC. If the legal battle continues, potential sales may follow. Since the ruling, Genius’ share price has dropped 53% from $0.47 to $0.22, and the Company’s market capitalization is currently 40% of the value of its Bitcoin Treasury.

Genius Group Bitcoin Pivot and Related Firms

Genius Group is one of the growing number of corporate institutions investing in Bitcoin. In November 2024, the Genius Group implemented a bold Bitcoin-first strategy, allocating Bitcoin as its treasury reserve asset.

Chief Executive Officer Roger James Hamilton has advocated for Bitcoin, positioning Genius Group as a Bitcoin-first company. The company adopted cryptocurrency as a financial strategy, borrowing MicroStrategy’s BTC playbook. 

Earlier, it approved a $33 million rights offering to buy BTC. However, the court order may force it to change its approach to Bitcoin acquisition.

Firms like Strategy, Metaplanet, and Tesla have added Bitcoin to their balance sheets, seeing it as a hedge against inflation and economic uncertainty. Strategy has been more aggressive with its Bitcoin acquisition campaign. Recently, MicroStrategy acquired 22,048 BTC for $1.92 billion at an average price of $86,969 per Bitcoin.

Should Pro-Bitcoin Firms be Concerned?

Meanwhile, the legal case against Genius Group raises concerns for other companies holding Bitcoin. 

While firms like MicroStrategy continue to accumulate Bitcoin, Genius Group’s case shows the legal risks involved. Many experts believe that as long as an organization adheres to the stipulated guidelines set by the authorities, there is nothing to fear regarding lawsuits. 

While this may not have been the case with the previous administration, the current US SEC leadership has maintained a largely pro-crypto stance.

The post Genius Group Forced to Liquidate Its Bitcoin Holdings, Here’s Why appeared first on CoinGape.

3 Apr 2025, 12:08 pm

Binance founder Changpeng Zhao (CZ) has inked a deal with Kyrgyzstan’s National Investment Agency to trigger Web 3 adoption metrics. Both parties have reiterated a commitment to integrate Web 3 technologies into every facet of the local economy leaning on CZ’s expertise.

Kyrgyzstan Turns To Binance Founder CZ For Web 3 Direction

According to an X post by Kyrgyzstan President Sadyr Zhaparov, the Central Asian country has inked a deal with CZ. The Binance founder and the National Investment Agency signed a Memorandum of Understanding (MoU) to develop the local Web 3 ecosystem.

Signed with the consent of the president, parties will commit to building out a thriving cryptocurrency ecosystem for residents. To achieve this, the National Investment Agency will lean on Zhao’s expertise as the Binance founder takes on an advisory role.

“The signing of the Memorandum opens new horizons for the development of digital technologies and the blockchain ecosystem in the country,” said President Zhaparov.

Furthermore, CZ says the MoU will extend to distributed ledger technology (DLT) and real-world application of blockchain outside of speculation. However, while not expressly stated, pundits theorize that the founder of the top cryptocurrency exchange will explore cross-border use cases and other financial utility for cryptocurrencies.

There are plans to train residents on blockchain, cybersecurity, virtual asset management, and other emerging technologies. The economic impact of the Web 3 initiative is far-reaching and will contribute a chunk to Kyrgyzstan’s GDP by 2030.

CZ Excited To Take On The Advisory Role

CZ has expressed his commitment to the advisory role, noting that Kyrgyzstan is the latest in a line of MoUs. The Binance founder has previously provided advisory services in both official and unofficial capacities on cryptocurrency regulatory frameworks and real-world DLT applications.

“I find this work extremely meaningful,” said CZ.

Amid reciprocal tariffs affecting crypto prices, CZ disclosed that his advisory services to countries do not extend to geopolitics.

Apart from his advisory role, Zhao has donated a portion of his wealth to disaster relief in affected regions. The latest is a hefty donation of over $1 million to earthquake relief efforts in Myanmar and Thailand. Beyond charitable donations, the Binance founder has downplayed the impact of exchange listing on token prices.

The post Binance Founder CZ Signs MoU With Kyrgyzstan For Web 3 Development appeared first on CoinGape.

3 Apr 2025, 11:43 am

The United States Securities and Exchange Commission (SEC) has officially acknowledged the filing for a spot Solana Exchange-Traded Fund (ETF) submitted by Fidelity Investments. The application, which aims to list the fund on the Cboe BZX Exchange, represents a new step in Fidelity’s continued expansion into digital asset products.

This development comes during a time of market uncertainty, as broader financial markets saw declines following an announcement from former President Donald Trump about new global tariffs. Solana (SOL), the token proposed for the ETF, dropped over 12% in the past 24 hours.

Fidelity Proposed Solana ETF Filing

Fidelity’s proposal outlines the creation of a spot Solana ETF, named the Fidelity Solana Fund, which would hold physical SOL tokens. According to the filing, the fund also plans to stake a portion of its holdings through verified third-party providers.

The ETF would be listed and traded under Cboe BZX Rule 14.11(e)(4), which covers Commodity-Based Trust Shares. FD Funds Management LLC, an affiliate of Fidelity, is listed as the sponsor of the trust. The shares will be registered under the Securities Act of 1933 through Form S-1.

The Cboe BZX Exchange amended the original filing with a revised version submitted on April 1, 2025. This Amendment No. 1 updated the March 25, 2025 filing to provide additional technical details and clarify specific elements of the rule change proposal. The SEC has now published the notice and invited public comment.

Solana Price Dips Amid Tariff Concerns

Solana’s price decline follows a broader market downturn triggered by Trump’s statement on global tariffs. The sudden dip in cryptocurrency and traditional markets coincided with the SEC’s acknowledgement of the ETF filing.

Despite the decline in price, Fidelity’s filing argues that Solana’s market depth and liquidity are sufficient for ETF structure. The document notes Solana’s $2 billion daily trading volume and its $90 billion fully diluted market capitalization over the past 180 days. Fidelity and Cboe BZX believe these figures demonstrate that the token is resistant to manipulation, even without a surveillance-sharing agreement.

The ETF’s introduction could expand access to Solana for retail and institutional investors if approved, but the SEC’s review is still ongoing.

SEC Leadership and Crypto Regulation Direction

This filing comes at a time when the SEC is shifting its approach toward crypto regulation. On the same day as the ETF acknowledgment, the Senate Banking Committee voted 13-11 to advance Paul Atkins as the nominee for SEC Chair.

Atkins, a former SEC Commissioner and founder of Patomak Global Partners, has expressed his intent to support clearer rules for digital assets.

In recent weeks, the SEC has moved to reduce enforcement actions and reverse some earlier policy decisions. The agency also formed a crypto-focused task force, which is expected to support a faster review process for digital asset ETF applications.

Fidelity’s Growing Presence in Crypto ETFs

Fidelity has increased its presence in the digital asset investment space since launching its first crypto ETF in 2024.

The Fidelity Wise Origin Bitcoin Fund (FBTC) has gathered nearly $17 billion in Bitcoin assets. In addition, its second offering, the Fidelity Ethereum Fund (FETH), currently manages over $975 million.

The firm continues to develop crypto-focused services for its clients. Fidelity recently introduced a retirement account that allows direct investment in digital assets like Bitcoin, Ethereum, and Litecoin. This is part of a broader strategy to offer diversified options for investors seeking regulated exposure to cryptocurrencies.

The post Breaking: US SEC Acknowledges Fidelity’s Filing for Solana ETF appeared first on CoinGape.

3 Apr 2025, 11:10 am

Crypto analyst Titan of Crypto has provided a bearish outlook for the Bitcoin price, predicting it could drop below $60,000. This comes amid Donald Trump’s announcement of reciprocal tariffs, which could trigger this price crash.

Bitcoin Price Could Drop Below $60,000 If It Fails To Hold This Level

In an X post, Titan of Crypto warned that the Bitcoin price could drop below $60,000 if it fails to hold above $81,872. He remarked that BTC must hold within this range, stay above the 50-week Exponential Moving Average (EMA), and keep the weekly RSI above key support.

He warned that the flagship crypto could witness a deeper correction if it fails to hold above those levels. His accompanying chart showed that a drop below $60,000 could occur as part of this correction, with Bitcoin touching $58,500.

This bearish outlook for Bitcoin follows US President Donald Trump’s announcement of reciprocal tariffs on all countries. This move could spark this downtrend for BTC, especially as a global trade war heats up. The flagship crypto has already dropped from as high as $88,000 following this announcement and could soon lose the $80,000 range.

In the long term, Titan of Crypto believes the Bitcoin price could still rebound. He highlighted a Falling Wedge pattern, which was forming for the flagship crypto. The analyst remarked that over the next couple of months, the CPI and Core PCE will likely improve as Trueflation data shows inflation cooling off significantly. He then raised the possibility of this setting the stage for a “strong” BTC bounce by May.

Macro fundamentals continue to heavily impact Bitcoin’s price and the broader crypto market. A CoinGape market analysis highlighted the Nonfarm Payrolls (NFP) report and Fed Chair Jerome Powell’s speech as two key macroeconomic events to watch this week.

Bullish Scenario For BTC

Amid this persistent downtrend for the Bitcoin price, analysts are still providing bullish predictions for BTC. Crypto analyst Crypto Caesar stated that his bullish scenario for the BTC price is a rally to $120,000, which will mark a new all-time high (ATH) for the flagship crypto. He suggested that this price level would mark the top for BTC in this cycle.

Meanwhile, crypto analyst Trader Tradigrade asserted that the Bitcoin price is poised for the final surge. He remarked that a surge begins whenever BTC’s RSI breaks the ascending triangle. Interestingly, his accompanying chart showed that Bitcoin could reach as high as $650,000 on this final surge, although this looks likely to happen next year.

The post Analyst Warns Bitcoin Price Could Drop Below $60k Amid Trump’s Reciprocal Tariffs appeared first on CoinGape.

3 Apr 2025, 10:28 am

Ethereum developers have officially announced a new deadline for the upcoming Pectra upgrade. The core developers made the final decision in a recent call after passing the third and last testnet implementation without any problems.

The upgrade, previously delayed by bugs encountered in previous test runs, had successfully run its third and last testnet implementation.

Key Improvements In The Ethereum Pectra Upgrade

The Pectra update has a bundle of 11 Ethereum Improvement Proposals (EIPs) intended to enhance the usability and effectiveness of the network. All the changes will be made at the same time to tackle a number of elements within the Ethereum environment.

One of the standout additions is adding “smart contract” functionality to wallets. This will make wallets simpler to use and recover. This will alleviate a widespread issue for Ethereum users who have previously had issues with wallet recovery and management options.

For validators in Ethereum, EIP-7251 introduces a dramatic shift in the staking process. In this proposal, the upper limit of ETH that can be staked will be raised from the current threshold of 32 ETH to a much higher value of 2,048 ETH.

This adjustment is tailor-made to enhance staking efficiency for those running several validators. It will enable them to organize their activities in a single node instead of operating separate nodes per validator.

Pectra’s Testing Journey And Implementation Timeline

The road to Pectra’s mainnet launch has been met with several challenges. The upgrade went through three separate testnet implementations before developers felt confident enough to set a mainnet launch date.

Even though the final test on the Hoodi testnet proceeded without any issues, the two earlier test runs encountered bugs that forced developers to delay the upgrade. These technical challenges brought forth more testing and tweaks prior to proceeding with the mainnet deployment plan.

In the call among the core developers, the group approved the May 7 target date following an assessment of the successful Hoodi testnet.

Now that the May 7 date has been finalized, users, developers, and validators all have a set schedule by which to ready themselves for the changes. Node operators and staking services in particular will need to update their software to remain compatible with the network once Pectra goes live.

Ethereum Struggles At $1,700

Ethereum’s price has been underperforming on all time frames leading up to the Pectra upgrade announcement. The data indicates ETH has dropped 6.2% over the last 24 hours, with deeper declines of 12.6% in the last seven days and 14.7% in the last 30 days. Ethereum price has also dropped 47.1% in the last 12 months.

Currently trading in the $1,700 range, ETH has not seen a positive market reaction to the upgrade news. Analysts have mixed views on Ethereum’s price outlook.

Ito Shimotsuma pointed to potential bullish signals, noting on X: “ETH is forming a bullish divergence on the 12H timeframe. RSI is slowly reaching neutral territory while price is going down. On top of that, a lot of shorts are building up, which is always a good signal if you hold an Altcoin.”

$ETH is forming a bullish divergence on the 12H timeframe.

RSI is slowly reaching neutral territory while price is going down.

On top of that, a lot of shorts are building up, which is always a good signal if you hold an Altcoin.

All we need to see is a little bit of strength… pic.twitter.com/qr8avm0p0a

— Ito Shimotsuma (@ItoShimotsuma) April 3, 2025

Taking a much more optimistic long-term view, analyst CryptoElites stated: “Ethereum to $10K by 2025—minimum! The path is clear, just stay focused and trust the process!”

The announcement is coming just after Trump announced the reciprocal tariffs, and the upgrade could provide a bullish outlook for ETH. Inflows into spot Bitcoin ETFs have surged once again as investors chose to look past the Trump reciprocal tariffs. As per the data, net inflows across all US ETFs for Bitcoin stood at $220 million yesterday.

The post Ethereum Pectra Upgrade Set for May 7: What to Expect appeared first on CoinGape.

3 Apr 2025, 10:02 am

Bitwise has announced the launch of three active option income strategy exchange-traded funds (ETFs). Designed to ride the inherent volatility of the cryptocurrency market, Bitwise’s ETFs will target the performance of MSTR, COIN, and MARA.

Bitwise Trio Of ETFs Designed To Ride Crypto Volatility

According to an announcement on X, crypto investment firm Bitwise says it is rolling out three active option income strategy ETFs. Per the announcement, Bitwise has its sights on supporting investors to capitalize on market volatility with the trio of ETFs.

Active option income ETFs are funds that generate additional income from selling covered calls and distributing the premium on sold options.

The Bitwise ETFs with the tickers $IMST, $ICOI, and $IMRA, will operate as active option income strategy funds, providing monthly returns to investors. The fund will allow investors to have exposure to Strategy (MSTR), Coinbase (COIN), and MARA, firms with significant Bitcoin holdings. Early in the week, MicroStrategy acquired 22,048 BTC, with the trio holding over 500,000 BTC.

“IMST, ICOI, and IMRA aim to distribute monthly income to investors while thoughtfully participating in the performance of MSTR, COIN, and MARA,” read the statement.

Bitwise has tapped its Head of Alpha Strategies, Jeff Park, and three top members of its portfolio team to write the options. The lean team will still maintain a long position on MSTR, COIN, and MARA while considering key fundamentals and option pricing.

A Streak Of Crypto-related ETFs For Consumers

Bitwise has a red-hot streak of ETF activity in the cryptoverse in recent weeks. The crypto investment firm launched the OWNB ETF to track corporate Bitcoin holders, including Strategy and MARA holdings. Fold and Bitdeer also recently joined the OWNB index.

Riding on the wave of ETFs, Bitwise submitted an S-1 filing for an Aptos ETF, building on its impressive streak. Before Aptos, Bitwise filed a Dogecoin ETF, following up with a proposal for its Ethereum ETF staking.

Bitwise has donated $150,000 to the Bitcoin community, proceeds from its Bitcoin ETF for open-source development. Furthermore, the firm has dabbled into decentralized finance (DeFi) striking a partnership with Maple for on-chain credit.

The post Bitwise Launches Active Option Income Strategy ETFs For MSTR, COIN, MARA appeared first on CoinGape.

3 Apr 2025, 8:52 am

Dogecoin price today continues to crash, and hovers near its lowest level since November last year. This drop is mostly because of the ongoing fear among investors after Donald Trump implemented sweeping tariffs. It has also crashed as the odds that Elon Musk will abandon the DOGE project this year rose on Polymarket.

Dogecoin Price Today at Risk as Odds of Elon Musk Leaving DOGE Rise

Polymarket traders believe that Elon Musk, the wealthiest person in the world, will abandon his position this year. A poll with over $131k in assets shows that these odds have soared to a record high of 77%, up from 55% on April 1. 

These odds have jumped after a Democratic judge won a seat in Wisconsin in a sharp rebuke to Musk who spent billions of dollars in the campaign. Also, the probability has jumped as he watches his Tesla stock implode. It has crashed by over 40% this year, erasing over $1 trillion in value.

The probability that he will leave the DOGE position explains why the Tesla stock price jumped by over 5% on Wednesday. Analysts believe that leaving DOGE would let him focus fully on his company. 

Musk’s exit from the DOGE project would have a minor impact on the Dogecoin price, leading to its retreat. That drop would mostly be from a psychological perspective since he is its most prominent promoter. However, any price drop after he leaves the Department of Government Efficiency would be temporary.

DOGE Price Technical Analysis Hints to a Rebound

The ongoing Dogecoin price crash could ultimately result into a strong rebound. One crypto analyst predicted that DOGE will jump by 250% in the long term if it holds above $0.15. 

On the daily chart, the coin seems to be forming a double-bottom point at $0.1440, and whose neckline is at $0.2058. A double bottom is a popular bullish reversal sign in technical analysis.

The coin has also formed a giant falling wedge pattern. This pattern comprises two descending and converging trendlines, which have already converged. Another positive is that the Bollinger Band Trend (BBTrend) indicator has formed a bullish divergence pattern.

DOGE Price Today Targets

Therefore, the most likely scenario is where the Dogecoin price falls slightly to the double bottom at $0.1441. It will then bounce back, potentially to the 50% retracement point at $0.2820, up by 80% above the current level. 

 A drop below the double-bottom at $0.1441 will invalidate the bullish DOGE price forecast, and boost the odds of it falling to $0.1.

The post Dogecoin Price Today: Will It Crash if Elon Musk Leaves Trump’s DOGE? appeared first on CoinGape.

3 Apr 2025, 8:08 am

The U.S. Senate Banking Committee has approved Paul Atkins as President Donald Trump’s nominee to lead the Securities and Exchange Commission (SEC). The vote took place on Thursday, advancing Atkins’ nomination with a 13-11 vote, where all Democratic members opposed the selection.

Senate Banking Committee Approves Paul Atkins Nomination

Paul Atkins, a former SEC commissioner, has been nominated to replace Gary Gensler as SEC chair. This conclusion came after the committee session where many Republicans testified in favor of Atkins while Democrats opposed him based on his beliefs and practices of the past.

Senator Tim Scott, the chairman of the committee, expressed much appreciation for Atkins over the experience he has in capital markets and his driver to facilitate regulations on digital assets.

Speaking to the committee’s vote, Scott said, “Paul Atkins will advance the capital formation agendas and bring the much-needed direction to the digital assets.” While the nominee was endorsed by the Republicans, the Democrats, particularly Senator Elizabeth Warren, faulted Atkins for his policies before the 2008 financial crisis. Warren also raised concerns about his connection to the collapsed crypto exchange FTX.

Next Steps for Atkins’ Confirmation

The nominee, Atkins will now wait for the full senate to vote on the decision made by the committee. Given that republicans now have a narrow majority in the Senate, Atkins’ confirmation is likely to go through a smooth process.

If affirmed, Atkins is set to assume the position of SEC chair and potentially influence resolutions regarding different financial issues, including cryptocurrencies.

Paul Atkins’ draft has previously indicated an interest in creating a legal framework for digital assets, a topic that has generated much interest in the current discourse surrounding the future of cryptocurrencies and the use of blockchain. His leadership is expected to shape how the SEC will approach regulation of cryptocurrencies moving forward.

Criticism and Opposition from Democrats

While Paul Atkins’ confirmation is gaining momentum, the nomination has not been without controversy. During the Senate confirmation hearing, several Democrats raised concerns over his past actions at the SEC.

Senator Warren, in particular, has been vocal about her opposition, accusing Atkins of deregulating financial markets in favor of Wall Street. She has stated that Atkins’ record during the financial crisis shows a pattern of policy decisions that negatively impacted the broader economy.

Furthermore, Warren and other Democrats took issue with Atkins’ involvement in advising FTX, which is central to ongoing debates about crypto regulation. “Mr. Atkins was dead wrong in the lead-up to the worst financial crisis in a generation,” Warren said. Despite these criticisms, the Republican members of the committee have stood behind Atkins, supporting his nomination as a step toward improving the regulatory framework for financial markets, including cryptocurrencies.

What Comes Next for the SEC

The next phase in the confirmation process will see the full Senate vote on Atkins’ nomination. Should he be confirmed, his appointment would mark the beginning of a new era for the SEC. While the SEC’s role in regulating traditional securities is well-established, Atkins’ leadership could bring a more flexible approach to digital asset regulation, an area that has seen rapid growth and increasing regulatory attention.

Atkins has made it clear that regulating digital assets will be a top priority if confirmed. His previous work with industry groups focused on developing best practices for crypto suggests he may seek to create a clearer and more structured regulatory environment for the sector. This shift could offer a more consistent approach to the rapidly evolving crypto market, providing clarity for investors and companies in the space.

The full Senate vote could happen in the coming weeks, depending on procedural considerations. With a likely Republican majority support, Atkins’ confirmation could be finalized shortly, enabling him to assume his role as SEC chair.

The post Just In: US Senate Banking Committee Approves Paul Atkins Nomination For SEC Chair Role appeared first on CoinGape.

3 Apr 2025, 7:55 am

Bitcoin mining firm MARA released robust production numbers for March 2025. The numbers show a 17% gain over February when 706 BTC was produced.

The company also purchased 242 blocks in March, the third highest on record and a 17% jump over February’s 206 blocks. As per the announcement, MARA’s daily average Bitcoin production rose to 26.8 BTC per day, 6% above February’s 25.2 BTC per day.

MARAPool Driving Operational Efficiency

MARA’s own-operated mining pool remains a major differentiator for the firm in the highly competitive Bitcoin mining industry. In the view of CEO Fred Thiel, “MARAPool is the only self-owned and operated mining pool among public miners, providing unique control and efficiency.”

The company touts a number of benefits from maintaining its own pool of mines instead of pooling with third-party pools. By eliminating charges to third-party operators, MARA gets to keep more of its mining dividends and has complete control over mining operations. Its integrated model has translated into quantifiable performance gains.

Thiel noted in the announcement that “MARA Pool’s luck factor has exceeded the network average by over 10% since launch, meaning more blocks mined and higher rewards.” This efficiency metric shows that the company has been more successful at finding blocks than would be expected based solely on its share of the global hashrate.

MARA reported its share of available miner rewards reached 5.8% in March, up from 5.4% in February. In the meantime, fees from transactions represented 1.3% of all mining revenue, a small drop from 1.4% last month.

MARA’s Next Plans In Mining

MARA continues expanding its mining infrastructure with construction of its new 40-megawatt data center in Ohio nearing completion. According to the company’s announcement, this facility is expected to be finished by the end of April 2025, adding to MARA’s geographic diversification and hashrate capacity.

“We will continue to focus on being the dominant player in bitcoin mining while expanding our footprint in energy generation,” said Thiel. He referred to the company’s twin strategy of expanding both its mining activities and energy capacity.

It follows MARA’s continued dominance in the Bitcoin mining sector, with its 54.3 EH/s hashrate accounting for a significant percentage of the world’s Bitcoin network computing power.

While the global Bitcoin hashrate and mining difficulty continues to trend higher, MARA’s mining production has increased. Higher hashrate and mining difficulty, in general, puts miners at a disadvantage when coming to producing blocks. MARA’s increase in production during this phase indicates good management of operational and strategic deployment of allocated mine capacity.

Analysts Say What’s Next for Bitcoin

In terms of market context and the perspectives of analysts, the price of Bitcoin is the continuing determinant for mining companies like MARA, as it has direct consequences on revenue and profitability with market prices. In the cryptocurrency market, analysts have fundamentally different perspectives with regards to Bitcoin’s price direction over the near term.

Analyst CryptoELITES posted a positive outlook on X, saying “Bitcoin’s path to $150K has started! April & May will be explosive—at least $120K is coming.” This positive outlook indicates possible revenue expansion for Bitcoin miners if such price targets are achieved.

Bitcoin's journey to $150K has begun!

April & May will be explosive—at least $120K is on the horizon!

Are you ready for what’s coming?$BTC #Bitcoin #Crypto pic.twitter.com/9AkBiJIvs9

— @CryptoELlTES (@CryptooELITES) April 2, 2025

But not everyone watching the market feels that way. BitBull analyst noted technical hurdles, saying on X, “BTC is at a critical decision point! – Broke out of the wedge but rejected hard – If support fails, $74K could be the next stop.

MARA’s strategy of buying Bitcoin now with over 47,000 BTC positions the company to gain from possible price appreciation. It is also the second largest BTC-holding public company behind Strategy. Interestingly, Strategy just increased their holdings by purchasing 22,048 BTC on March 31.

The post MARA Reports Increased Bitcoin Mining, 829 BTC Mined in March appeared first on CoinGape.

3 Apr 2025, 7:48 am

Ethereum (ETH) price continues to crash, and has now plunged below $1,800. It is down by almost 60% from its November high, and its weak fundamental metrics like falling active addresses, ETF outflows, and fee plunge points to a potential crash to $1,000.

Active Addresses, Fees Plunge, and ETF Outflows Hint at Ethereum Price Plunge

Ethereum price could crash to $1,000 in the near term. On-chain data shows that the number of active addresses has continued to plunge, a sign that some holders are abandoning ship. ETH had over 575k active addresses in January, a figure that has dropped to 333k today. 

More data reveals that the ETH burn rate continues to drop as the fees generated by the network falls. According to TokenTerminal, Ethereum network has made only $222 million, a figure that is much lower than Uniswap, Solana, Jito, Circle, Tron, and Tether. Ethereum used to dominate in fees in 2024.

Additional data reveals that Ethereum ETF outflows soared to $403 million in March, bringing the cumulative figure to $2.36 billion. In contrast, Bitcoin has had over $36 billion in inflows since January last year. 

Analysts have turned bearish on Ethereum price. Just last month, Standard Chartered lowered its ETH price forecast by 60% to $4,000. 

On top of all this, ETH price is battling a period of extreme fear in the market after Trump launched his reciprocal tariffs that have pushed recession odds higher.

Technical Analysis Shows ETH Price May Plummet to $1k

A closer inspection of Ethereum’s weekly chart shows an increasing risk that the coin will continue falling soon. That’s because it formed a triple-top pattern between March 11 and December 16 last year. This pattern is made up of three peaks and a neckline. 

In this case, the peaks were at $4,045, while the neckline was at $2,130. It has now plunged below the neckline, validating the bearish thesis. At the same time, the Average Directional Index (ADX), a popular indicator that measures the strength of a trend, has soared to 30, a sign that the trend is strengthening.

Therefore, measuring the distance between the top and the neckline shows that it is about 50%. A similar measurement from the neckline shows that it may crash to $1,000, which is about 42% below the current level. 

On the flip side, a move above the crucial resistance level at $2,130, the triple-top’s neckline, will invalidate the bearish ETH price forecast. It will raise the odds of the coin rising to $2,500.

The post Ethereum Price Eyes Crash to $1K as Active Addresses & Fees Plunge appeared first on CoinGape.

3 Apr 2025, 6:33 am

Solana price is on the verge of the biggest collapse as the crypto market crash intensifies. With Donald Trump’s tariff announcement, the bearish sentiments remain dominant in the financial market, affecting assets like Solana (SOL) and others. However, as this altcoin moves down the critical support, its three-digit price will likely turn into two with a major crash. How? Let’s discuss this.

Solana Price Crashed 15% Today

With a 61% crash from the ATH, set just 2 months ago, Solana holders are in complete turmoil. Interestingly, it is among the top cryptos of the market, but the downtrend persisted due to the decline in the meme coins hype.

The intensity of the downtrend soared as Donald Trump introduced new tariffs, affecting all the financial markets. Amid the investors’ bearish sentiments, the Solana price has crashed 15%, currently at a month’s low of $116.35.

However, its trading volume has surged 135% to $6.69B, indicating the investors’ high trading as they prepare for SOL’s next move. However, the concerns extend as the token’s declines the crucial $120 support.

Solana Price Moves Down the $120 Support, What’s Next? 

The dominance of the bearish sentiments among the Solana holders has resulted in its prolonged downtrend. As the altcoin has moved down the crucial support of $120, crash fear emerged. A move down this could result in the SOL price’s crash to $90, per crypto analyst XO.

Similarly, other analysts’ Solana price predictions indicate the same, with the majority forecasting a crash to $90 or lower. This is because the altcoin’s chart is showing the formation of a bearish triangle, whose continuation could result in the crash to as low as $58.

However, a recovery is also possible once the token regains the $118 support. Experts believe this is the accumulation zone, where buyers’ dominance could push the SOL price to $1000 in the long term.

It is important to note that this prediction is possible if the SEC approves SOL ETF or the U.S. government discloses Solana holdings.

Is SOL Price Crash Imminent?

Although the entire crypto market, including Bitcoin, crashed, the concerns are higher for Solana. This is due to investors’ declining interest and bearish market sentiments, resulting in analysts anticipating a decline to as low as $58.

Experts believe investors should monitor the SOL price and macroeconomic events. More importantly, the key support levels as the bearish sentiments remain high.

The post Solana Price Risks Crashing to $90 if $120 Support Fails appeared first on CoinGape.

3 Apr 2025, 6:09 am

Alchemy Pay, the leading crypto payment solutions provider, has finally unveiled the long-anticipated timeline for the launch of its own Layer-1 Blockchain, Alchemy Chain.

Revealing its plans in the 2025 roadmap presented on April 2, the crypto payment gateway said that it aims to build the future of global stablecoin ecosystem on Alchemy Chain.

In simple words, with its chain, it is aiming at establishing a seamless global stablecoin ecosystem for enhanced transparency, security, and efficiency in cross-border settlements.

Notably, the launch plans of Alchemy Chain were announced last year in December 2024, however the official launch of it is still pending.

Alchemy Pay’s Layer-1 Blockchain to Unify Stablecoin Transactions

Recognising that the stablecoin market is witnessing an unprecedented growth, Alchemy Pay aims to provide a unified market for the existing scattered mechanisms across various chains for stablecoin transactions.

At the heart of the chain’s security and transparency is an innovative Trusted Proof-of-Authority (TPoA) mechanism, which will ensure the integrity and transaction speed of validating nodes. Its architecture is designed to process transactions rapidly and efficiently for unified stablecoin ecosystem.

Alchemy Pay’s chain will connect all the global and local stablecoins including USDT and USDC for an interoperable and comprehensive network. The timing of its launch, i.e., this year, can prove to be quite strategic and significant.

Recently many entities have come up with their own stablecoin launch. The most prominent being the Trump-associated World Liberty Financial launching its own stablecoin, USD1. It is coming up as a stablecoin backed by short-term U.S. Treasurys, dollar deposits, and other cash equivalents.

The state of Wyoming last week also revealed its plans to introduce the Wyoming Stable Token (WYST), a state-backed stablecoin. Further, Brazil’s largest bank, Itau and Fidelity are also set to launch their respective stablecoin by this year.

Thus, the chain, with a focus on high scalability and seamless integration of on-chain and off-chain operations, is coming at the right time.

Additionally, Alchemy Chain will integrate advanced Layer-2 solutions that will enable seamless account mapping and data synchronization. This will help in minimizing redundant data storage and optimizing scalability.

The third part of the roadmap is about #AlchemyChain is creating an open, borderless infrastructure for #stablecoin transactions, payments, and remittances.
It aims to become the foundation of a truly global stablecoin network.

Aggregating Liquidity Across Stablecoins… pic.twitter.com/NK3rSpx9Jl

— Alchemy Pay|$ACH: Fiat-Crypto Payment Gateway (@AlchemyPay) April 2, 2025

Stablecoin Revenue Mechanism and new Tools among the Features

Central to Alchemy Chain’s ecosystem is its native utility token, $ACH. This token will serve multiple purposes within the platform, including the payment of gas fees.

Users will have the flexibility to cover these fees using either $ACH or fiat currencies, with seamless conversion mechanisms in place.

Furthermore, Alchemy Chain plans to implement a stablecoin revenue mechanism, providing users with opportunities to earn yields effortlessly.​

As it revealed during its launch plan, it will also introduce two critical tools: the Meme Launchpad and the Meme Telegram Bot.

The Meme Launchpad will offer an intuitive platform designed to lower technical barriers, facilitating the creation and launch of meme-based projects. Meanwhile, the Meme Telegram Bot aims to provide a streamlined, “light mode” interface for developers to navigate and interact with the ecosystem effortlessly.

Strengthening Position in Market

Thus, as the stablecoin market gains unprecedented prominence, the soon-to-launched Alchemy Chain can strengthen the status of Alchemy Pay in the Web3 world.

It will also made it the only company to hold both a digital currency license and a cross-border remittance license. Notably, last month only, Alchemy Pay invested in EZPG and secured the Korean Electronic Financial Business Registration.

As per the revelation, the chain is proactively working on securing regulatory compliance licenses in key markets such as AustraliaBut one thing is sure: the already spanned network of Alchemy Pay in 173 countries will work as a solid foundation for its launch.

​

The post Alchemy Pay to Launch Alchemy Chain in 2025 for a Unified Global Stablecoin Ecosystem appeared first on CoinGape.

3 Apr 2025, 5:44 am

Cryptocurrency prices retreated on Thursday, as investors panicked after Donald Trump’s tariffs. Bitcoin (BTC) price dropped to $83,450, while Ethereum (ETH) remained solidly below $2,000. The stock market crumbled, with the S&P 500 index nearing a death cross, while Polymarket recession odds soared to a record high. This crypto price prediction explains what to expect this year.

S&P 500 Index Nears a Death Cross

American stock market plummeted after Donald Trump unveiled his tariffs, leading to heightened recession risks. As shown below, the Polymaket odds of a recession rose to 50%, the highest level since the poll started. These odds stood at 19% in January this year. In a note, a TS Lombard analyst said:

“These tariffs are not a mild stagflationary event, this is a recession-producing turn — if these tariffs stay in place.”

The blue-chip S&P 500 index futures dropped by 200 points, entering a correction since it has now dropped by over 11% from its highest level this year. The Dow Jones futures dropped by 1,200 points, while the Nasdaq 100 fell by over 800 points.

There is a risk that the S&P 500 index will drop further now that a death cross is about to happen. This pattern happens when the 50-day and 200-day moving averages cross each other, leading to further downside. In this case, the spread between the two averages has narrowed and could flip each other soon. Indeed, a death cross has already happened when using the Weighted Moving Average. 

More technicals suggest that the index may also drop further since it has moved below the key support at $5,527, invalidating the double-bottom pattern that has been forming. If this happens, the index may slip to $5,120, the lowest swing on August 5, and down by 7.40% from the current level.

Crypto Price Prediction as S&P Sinks

The S&P 500 index is a highly popular asset in the US. In most cases, its performance has an impact on crypto prices like Bitcoin and Ethereum. As such, there is a likelihood that its crash may trigger more bearish crypto price predictions. 

Bitcoin Price Technical Analysis

As the biggest coin in the industry, Bitcoin has a major impact on crypto prices. It is the engine that drives the crypto market.

On the daily chart, the BTC price has remained below the crucial support at $89,145, its lowest swing on January 14, and the neckline of the double-top pattern. The coin has also formed and retested the rising wedge pattern. 

Worse, the 200 and 50-day weighted moving averages have formed a death cross pattern, meaning that the coin will have a bearish breakdown, potentially to $76,890, its lowest level this year. A move above the resistance at $89,145 will invalidate the bearish view.

ETH Price Technical Analysis

Ethereum is another coin that impacts crypto price prediction. On the daily chart, the ETH coin has moved below the key point at $2,125, the neckline of the triple-top pattern at $4,000. It has also retested that resistance, creating a break and retest pattern that leads to more downside. 

Therefore, the most likely ETH price forecast is where it keeps falling and retests the support at $1,500. This view will be canceled if the coin rises above $2,126. 

Summary on the Cryptocurrency Price Prediction

There are rising odds that the crypto market will keep falling in the coming days as investors panic and sell their coins. They will then bounce back as the Federal Reserve intervenes by cutting rates.

The post Crypto Price Prediction as S&P 500 Death Cross Looms, Polymarket Recession Odds Spike appeared first on CoinGape.

3 Apr 2025, 5:00 am

Influenced by the United States’ changing crypto regulatory landscape, Brazil is considering issuing its own stablecoin. In a recent development, Brazil’s largest bank, Itaú Unibanco, is exploring the launch of a proprietary stablecoin, potentially extending its services to more than 55 million customers.

Significantly, Brazil’s move aligns with the global trend of exploring the potential of stablecoins. Before finalizing the decision, the bank is watching other financial institutions that have already adopted these stable crypto assets.

Largest Bank in Brazil Issues Stablecoin: What To Know?

According to a local report, the largest Brazilian bank, Itaú Unibanco, has taken the initiative to launch an in-house stablecoin. This move comes amid the increasing global interest in stablecoins as an alternative to the highly volatile cryptocurrencies.

Guto Antunes, Itaú Unibanco’s digital asset head, asserted that the bank is open to exploring the possibility of creating a stablecoin pegged to the Brazilian real (BRL). The bank is currently exploring the potential benefits and feasibility these digital assets for their clients. He cited, We are always open to understanding for our client whether it makes sense to have a stablecoin, even one in reals, within Itaú.”

US Crypto Regulations Influence Brazil

The US government has been undergoing a significant regulatory overhaul under President Trump. With the restructuring of the US Securities and Exchange Commission (SEC) the regulatory landscape has seen a major shift, leading to the dismissal of multiple crypto lawsuits.

In addition, the Trump government has given a specific focus on stablecoin regulation and growth. Recently, the US passed the STABLE Act, introducing exclusive guidelines for USD-pegged digital assets like USDT and USDC.

Interestingly, the Brazilian bank’s proposal to issue a stablecoin is primarily driven by the US’ progressive stance on digital assets. Antunes commented that the bank has been influenced by America’s stablecoin developments. He noted,

Of course, it is always on the agenda. The issue of stablecoins has always been on Itaú’s radar. We cannot ignore the power that blockchain has to settle transactions atomically.

Brazil Prohibits Pension Funds from Investing in Crypto

In a recent development, Brazil’s financial policy body, the National Monetary Council (CMN) issued a ban on pension funds’ crypto investments. The organization cited concerns about crypto assets’ inherent risks as the key reason for the decision.

Meanwhile, the Brazilian bank’s plans to issue a stablecoin comes following the Cardano Foundation’s expansion into the country. Recently, Cardano joined hands with SERPRO, the Brazilian government’s information technology company.

The post Brazil’s Largest Bank Itaú Unibanco Eyes Stablecoin Issuance Amid US Regulatory Shift appeared first on CoinGape.

3 Apr 2025, 4:53 am

The recent consolidation in XRP price has created a bearish setup that could lead to double-digit correction should a key support level fail. This outlook fits with the crypto market pessimism observed over the past few weeks. Let’s explore XRP price prediction for today and key levels to watch as Bitcoin holds $82K.

XRP price today trades at $2.02 after dropping 5.35% on April 2. With a market cap of $117 billion as of April 3, will the token bounce from here or crash lower?

XRP’s Head And Shoulders Setup Hints Double-Digit Correction

On the daily chart, the XRP price shows the formation of a clear head-and-shoulders setup. This pattern hints at correction if the key neckline is breached. For Ripple (XRP), this level is $2. A breakdown of this level will complete the pattern and predict a 38% correction for XRP price to $1.23.

The XRP price prediction for today is slightly bearish, assuming the aforementioned level is breached. But will the token fall below this key level? The crypto market outlook also looks bleak with Bitcoin price holding above $82K.

XRP Technical Analysis

The four-hour chart shows the consolidation since December 2, 2024, has created a value area that extends from $2.11 to $2.60. The highest volume for this area was traded at $2.40, making it a key resistance level.

If XRP price defends the selling climax at $1.95, it will be the first sign of a bullish outlook.

The second bullish signal will come if Ripple’s value establishes a support above $2.11, which is the value area’s range low. This development could provide a decent long trade setup, where XRP price could rally 13% until it encounters the critcal resistance level at $2.40. If buyers stay strong, the token could extend up to $2.60, which is the value area’s range high.

On the other hand, a breakdown of this level will confirm the bearish outlook emphasized by the head-and-shoulders pattern. Such a scenario will see XRP price revisit $1.23 support level.

The post XRP Price Prediction Today April 3 appeared first on CoinGape.

3 Apr 2025, 4:48 am