Demand for Grayscale Investments’ Chainlink Trust has pushed its premium to an all-time high.There are several reasons why its difficult for traders to arbitrage the price gap.Shares of Grayscale Investments’ Chainlink Trust are trading at their highest premium ever amid an institutional crypto land grab fueled by the approval of 11 Bitcoin spot exchange-traded funds in January.On March 11, shares of the Chainlink Trust, which each represent a little over 0.92 of a LINK token, traded at a market price of $170.99. That’s a more than 700% premium based on LINK’s $20.54 price on crypto exchanges.Shares of Grayscale Investment’s Chainlink…
Author: Web3 Daily Press Staff
Staking in crypto has emerged as a popular method for generating passive income, offering investors the opportunity to earn rewards by participating in blockchain networks. Among the myriad options available, Scorpion Casino (SCORP), Cardano (ADA), and Avalanche (AVAX) stand out as some of the best choices for those looking to make money in crypto while enjoying the benefits of passive income. Scorpion Casino: Revolutionizing Passive Income Scorpion Casino emerges as an enticing avenue for generating passive income. Employing blockchain technology, the platform guarantees transparency, efficiency, and security, rendering it an appealing prospect for investors seeking stable returns. This has enabled…
Bitcoin Cash receives an average long-term technical score of 62 from InvestorsObserver’s research based on historical trading patterns. The proprietary scoring system weighs price movement from recent months to a year, analyzes the coin’s support and resistance levels, and where it is relative to long-term averages to determine whether it’s a strong buy-and-hold investment opportunity. BCH currently holds a superior long-term technical analysis score than 62% of cryptos in circulation. This ranking metric is most useful to buy-and-hold type investors looking for strong steady growth when allocating their assets. coins with a high long and short-term technical score can help…
Binance Coin (BNB) has reignited its price surge this week after undergoing key technical tests. With Bitcoin’s stagnation above $72,000 contrasting with BNB’s sudden spike above $500, the top exchange token looks poised to retest critical upper resistance levels soon. After retracing last year, BNB spent considerable time centering around $300 support. However, this lateral price action has given way to a renewed uptrend recently. Binance Coin is currently trading at approximately $538, which represents a 66% increase over the past 30 days. Technical indicators suggest the asset is in an overbought state. However, current market sentiment appears to favor a continuation of…
ETH might face mild resistance but a climb to $5,000 looked almost certain. Rising confidence in the altcoin reinforced the bullish prediction. The price of Ethereum [ETH] might soon hit $5,000, according to analyst Ali Martinez. But the altcoin has to break through the supply wall between $4,522 and $4,646. A supply zone is a cumulation of buy orders. In this instance, the intention is to create a barrier that prevents the price from going down. Martinez, who used IntoTheBlock’s data, noted that 600,000 addresses bought 1.63 million ETH around that region. Source: X The season is already here Therefore,…
Ethereum has a four-in-five chance of hitting a new record high in 2024, according to bettors on Polymarket.At the same time, analysts and online punters’ hopes for an Ethereum ETF approval are dwindling.So what’s driving the surge?Online punters put the odds of Ethereum breaking a record this year at 79%, according to a bet on crypto predictions platform Polymarket. That’s up from 31% in mid-February.Yet bettors and analysts are putting slim chances of a Securities and Exchange Commission approval of a spot Ethereum exchange-traded fund.The deadline for an SEC decision on VanEck’s application is on May 23.Bettors on Polymarket give…
The founder of Bitcoin Fog, a long-running cryptocurrency mixer, was convicted by a federal jury in Washington on Tuesday of facilitating the laundering of over 1.2 million bitcoins (BTC) – worth about $860 million at today’s prices – tied to darknet marketplaces.Roman Sterlingov, 35, a dual Russian-Swiss citizen, was arrested at Los Angeles International Airport in April 2021 and charged with money laundering, operating an unlicensed money transmitting business, and money transmission without a license. Following his arrest, Sterlingov was also charged with conspiring to launder money.Sterlingov is the latest person tied to crypto mixing services to face prison, as authorities in…
© Reuters. Cryptocurrency Litecoin Decreases More Than 6% Within 24 hours Benzinga – by Benzinga Insights, Benzinga Staff Writer. Litecoin’s (CRYPTO: LTC) price has decreased 6.73% over the past 24 hours to $97.35. This is contrary to the coins performance over the past week where it has experienced an up-trend of 24.0%, moving from $77.9 to its current price. The chart below compares the price movement and volatility for Litecoin over the past 24 hours (left) to its price movement over the past week (right). The gray bands are Bollinger Bands, measuring the volatility for both the daily and weekly…
Shiba Inu Coin Price Prediction: SHIB has recently captured the spotlight in the cryptocurrency market, marking a significant bullish trend. This meme coin soared past the $0.00003 resistance level, achieving an impressive 250% increase this month. This remarkable growth has drawn widespread interest from both crypto enthusiasts and investors. Despite its remarkable ascent, Shiba Inu has seen some price volatility on the last day and is undergoing a slight correction. In the past day, Shiba Inu’s value has dipped to $0.00003067, with a 5% decline.Shiba Inu Price Prediction: Analyzing the Recent Market CorrectionOver the last week, its price has fluctuated, showing…
While VeChain (VET) traded in the red in the past few hours, canceling last week’s gains, a renowned market watcher believes the asset remains on track to $1.8. VeChain bulls appear to be running out of steam as VET battles bearish volatility over the past 24 hours, causing it to sink below the $0.5 threshold. VET has crashed 6% to a low of $0.04784, but its seven-day bullish trajectory still holds up with a positive gain. While VeChain’s performance slightly lags behind the broader bullish trend in the market, prominent EGRAG remains confident about its performance. EGRAG firmly believes that…