Tag: Live

  • FLOKI eyes 70% rally as first ETP goes live in Europe

    FLOKI eyes 70% rally as first ETP goes live in Europe

    • Floki price is up 2% after giving up some gains following a surge to above $0.000089.
    • This came as Valour Floki ETP goes live in Europe
    • FLOKI’s current price of $0.000086 but bulls could eye $0.00015 or higher amid a bullish Q4.

    Floki (FLOKI) rose slightly on Friday, hitting intraday highs of $0.000088.

    The gains came as the broader crypto market cheered its latest uptick, with Floki up as the cryptocurrency project hit a major milestone with the trading launch of its first exchange-traded product (ETP) in Europe.

    With the move likely to bolster FLOKI’s adoption as crypto builds momentum into a historically bullish Q4 cycle, bulls could ride overall sentiment to eye gains to $0.00015 – levels last seen in July.

    Valour launches first Floki ETP in Europe

    Valour, a subsidiary of DeFi Technologies, introduced the Valour Floki (FLOKI) SEK ETP in September.

    The ETP is now live on Sweden’s Spotlight Stock Market, a platform with multiple digital asset ETPs listed.

    Floki’s ETP begins trading in Europe just days after Valour announced the listing of several crypto ETPs on the Spotlight exchange.

    These included exchange-traded products for Pepe, Flare, Virtuals Protocol, Optimism, Story (IP), Immutable and Quant.

    Apart from Floki, the firm also launched a crypto-product on The Graph, Theta, IOTA, and Hyperliquid.

    According to details the launch of Valour’s Floki ETP marks a milestone for the BNB Chain-based project.

    In particular, Floki is now the first BNB Chain project, aside from BNB, to secure such an ETP listing in Europe.

    Valour’s crypto product on the memecoin goes live a couple of months after Floki became the first Markets in Crypto Asset compliant token in Europe.

    It followed the project’s launch of a MiCA-compliant white paper with the European Securities and Markets Authority (ESMA) in July.

    That, and this ETP, together point to Floki’s growing adoption.

    A similar trend is anticipated after the flagship metaverse game Valhalla went live.

    Floki price outlook: bulls eye a 70% bounce

    As Bitcoin pumped to above $120,000 and top altcoins tracked the uptick, Floki jumped to highs of $0.000089.

    While not a major breakout as happened with tokens like Zcash, PancakeSwap and Ether.fi, the gains signaled a potential upward flip for the memecoin.

    FLOKI’s current price of $0.000086 is near this level, with 24-hour uptick of 2% and 9% in the past week.

    However, bulls are down 5% over the past month after the downside action that hit cryptocurrencies in September.

    The technical outlook nonetheless suggests a potential accumulation zone near current levels.

    Floki price chart by TradingView

    Although the Relative Strength Index (RSI) at 45 suggests indecisiveness, the Moving Average Convergence Divergence (MACD) is signaling a potential bullish crossover.

    If this strengthens, a flip in the daily RSI could align with a possible reversal.

    Price targets on the upside include the key levels of $0.00011 and $0.00015.

    This could mean an initial 70% rally in coming months, mainly buoyed by overall market conditions.

    Notably, a successful break above $0.00015 could confirm a sustained upward trend and bring $0.00025 into play.

    The key short-term support level will be around $0.000063.



    Source link

  • PENDLE token goes live on BeraChain and HyperEVM to expand cross-chain utility

    PENDLE token goes live on BeraChain and HyperEVM to expand cross-chain utility

    • The coin has expanded its presence beyond Ethereum.
    • Users can now enjoy streamlined cross-chain swaps through Stargate Finance.
    • Pendle boasts the highest positive sentiment in all DeFi coins in the past seven days.

    Digital tokens painted price charts red on Wednesday as markets brace for the Fed’s rate policy.

    Pendle extended its weekly losses to over 6% after losing 2% in the past 24 hours.

    Intensified profit-booking after the recent growth contributes to PENDLE’s weakness.

    However, the altcoin appears poised for a significant rebound as bullish catalysts emerge.

    The team has confirmed that PENDLE is officially live on HyperEVM and BeraChain.

    It represents a key step in Pendle’s multi-chain ambitions as it aims to push boundaries in decentralized finance (DeFi) yield trading.

    Meanwhile, the expansion comes as the altcoin experiences bullish sentiments.

    Data show PENDLE had the highest positive sentiments across all DeFi currencies over the past week.

    With more individuals exploring Pendle, is a significant breakout on the horizon?

    Pendle smoothens cross-chain access

    The best thing about this development is the Stargate Finance integration.

    It allows users to bridge between Ethereum, HyperEVM, and BeraChain smoothly.

    That means users can access Pendle’s flourishing ecosystem regardless of their chain.

    Moreover, the integration promises less friction, faster access, and fewer fees.

    This is a game-changer for investors and DeFi enthusiasts.

    Stargate’s bridge promises smoother capital flow across chains to solve one of the primary bottlenecks in DeFi – interoperability.

    Furthermore, the move unlocks more utility for the PENDLE token in new liquidity hubs as HyperEVM and BeraChain protocols navigate Pendle’s yield markets.

    Positive sentiments dominate the Pendle ecosystem

    Multiple tracking platforms show PENDLE was the most positively discussed DeFi project over the past week.

    It is beyond price actions.

    The trend reflects the depth and tone of conversations about Pendle on crypto forums and social platforms like X and Telegram groups.

    Such sentiments often indicate market direction.

    It shows smart money watching the assets and possibly repositioning before bullish catalysts surface.

    Rising bullish chatter and listing on new platforms shows Pendle is attracting attention and confidence as it solidifies its presence in the DeFi industry.

    PENDLE price outlook

    The altcoin traded in red, losing over 2% in the past 24 hours.

    PENDLE hovers at $4.37, with a weakening trading volume reflecting dominant bearish tendencies in the broad market.

    Also, it experienced considerable profit-taking after the latest rally from $3.2633 on 4 June to last week’s $4.8747.

    Nonetheless, PENDLE hasn’t ruined its bullish structure. It trades well above the key support barriers of $3.60 and $2.80.

    Continued declines to these levels could catalyze massive buying interest, if history repeats itself.

    Bullish bounce-backs may clear the path for stable rallies toward $5.20 before extending to the psychological barrier at $7.

    That would be an approximately 60% increase from PENDLE’s market price.

    However, the $6.0 – $6.5 region will be a vital breakout area.

    A decisive weekly closing above this zone could trigger intensified buying and propel PENDLE to the target at $12.0 – $14.



    Source link

  • Coinbase’s wrapped Bitcoin token cbBTC goes live

    Coinbase’s wrapped Bitcoin token cbBTC goes live

    Coinbase's wrapped Bitcoin token cbBTC goes live
    • Coinbase launches cbBTC, an ERC20 token backed 1:1 by Bitcoin in its custody.
    • cbBTC allows BTC holders to access DeFi apps like Aave, Compound, and MakerDAO.
    • Over 843,783 Bitcoins back cbBTC, representing 4% of the total Bitcoin supply.

    Coinbase, the largest cryptocurrency exchange in the US, has officially launched its new tokenization product, Coinbase Wrapped Bitcoin (cbBTC), marking a significant development in the tokenization of Bitcoin across blockchains.

    The newly launched ERC20 token is fully backed 1:1 by Coinbase’s Bitcoin holdings, allowing holders to interact with decentralized finance (DeFi) applications on Ethereum and Base.

    The release of cbBTC provides an innovative bridge between Bitcoin and Ethereum’s DeFi ecosystem, giving Bitcoin holders more ways to lend, borrow, and earn yields with their assets.

    cbBTC is backed by Coinbase’s Bitcoin holdings

    Coinbase’s extensive Bitcoin holdings back the entire supply of cbBTC. As of now, Coinbase holds over 843,783 Bitcoins in custody, valued at around $48.7 billion, representing more than 4% of the total Bitcoin supply. This ensures robust liquidity for cbBTC holders.

    The number of cbBTC tokens in circulation will be directly limited by the amount of Bitcoin Coinbase owns.

    How cbBTC works

    The mechanics behind cbBTC are simple yet effective. When users transfer Bitcoin from Coinbase to an address on Base or Ethereum, their BTC is automatically converted into cbBTC at a 1:1 ratio. This conversion happens seamlessly, and the reverse process occurs when cbBTC is sent back to a Coinbase account, transforming the wrapped asset back into Bitcoin.

    Unlike a typical token launch, cbBTC will not have a separate order book or trading pair on Coinbase, but it will be accessible on decentralized exchanges (DEXs) like Aerodrome and Curve. Additionally, third-party exchanges may choose to list cbBTC in the future.

    Expanding decentralized financial access

    The introduction of cbBTC is not just a technical advancement but also part of Coinbase’s broader mission to expand decentralized financial access.

    Will Robinson, Coinbase’s Vice President of Engineering, has highlighted cbBTC’s potential to bring “1 billion people on-chain.”

    By providing Bitcoin holders with access to DeFi applications such as Aave, Compound, and MakerDAO, cbBTC enhances the utility of Bitcoin, helping users integrate their BTC into a wider financial ecosystem.

    With the growing demand for Bitcoin-based DeFi products, cbBTC positions Coinbase as a leader in the tokenization space.

    Notably, Coinbase’s move comes shortly after BitGo’s announcement regarding custody services for wBTC, further fueling competition in the wrapped Bitcoin market.

    With support from major DeFi protocols, cbBTC is could play a key role in shaping the future of decentralized finance.

    Source link

  • Schwab-backed crypto exchange EDX Markets goes live

    Schwab-backed crypto exchange EDX Markets goes live

    new crypto exchange edx markets goes live
    • EDX officially launched trading in bitcoin, ether, litecoin, and bitcoin cash today.
    • The crypto exchange has also completed a second funding round with new investors.
    • EDX has plans of launching a clearinghouse business later this year as well.

    Investors can now trade bitcoin, litecoin, ether, and bitcoin cash on a new digital assets marketplace – EDX Markets.

    EDX Markets is backed by financial giants

    On Tuesday, the crypto exchange that has support from a bunch of Wall Street behemoths, including Fidelity, Charles Schwab and Citadel Securities launched trading in the said digital assets.

    EDX Markets had first revealed plans of launching a non-custodial exchange last year in September. In a press release this morning, its CEO Jamil Nazarali said:

    EDX’s ability to attract new investors and partners in the face of sector headwinds demonstrates strength of our platform and demand for a safe and compliant crypto market.

    It is noteworthy that neither of the four crypto assets available to trade on EDX were dubbed “securities” in the recent complaints the U.S. SEC has filed against Binance and Coinbase.

    EDX will soon launch a clearinghouse business

    In its press release, EDX Markets also confirmed today that it has completed a second round of funding with new investors. CEO Nazarali added:

    We are committed to bringing the best of traditional finance to cryptocurrency markets, with an infrastructure built by market experts to embed key institutional best practices.

    A non-custodial crypto exchange is known to be safer than the custodial wallet. On Tuesday, EDX Markets revealed plans of introducing a clearinghouse business in the coming months as well.

    The news arrives only days after BlackRock officially filed to launch a Spot Bitcoin ETF in the United States (read more), suggesting the long-term institutional demand remains intact despite the FTX fiasco and the ongoing regulatory crackdown.

    Source link