AltSignals Blog

Ether is on track for its biggest weekly gain since May 2021. The rally is being fueled by Ethereum’s Pectra upgrade, major short squeeze, and a spike in mega-whale accumulation. Technical patterns indicate the potential for a 40% surge towards $3,400. Market developments, such as the announcement of a new trade deal between the US and UK, are also boosting sentiment in the crypto market.

Vector Smart Chain introduces a $4 flat rate gas fee model ensuring predictable costs and enhancing network security. Along with this, former CitiGroup executive, Peter Ritchie, has been appointed as Strategic Finance Executive Consultant. This major move comes as VSC focuses on strengthening its integrations with institutional and enterprise clients, while working towards achieving carbon-neutral status.

Ripple Labs and the US SEC have reached a settlement on a lengthy legal battle. The deal involves a $50 million penalty, a part of the initial $125 million fine. The agreement emerges amidst a reversal in the SEC’s stance on crypto investigations under the new leadership of Paul Atkins. The news boosted XRP value by 9% as Ripple maintains silence on the development.

Explore the unrealized potential of using CPUs for AI tasks: they are abundant, underused, and can handle a significant portion of AI workloads efficiently. As the demand for AI grows, decentralized networks could route AI tasks to CPUs, saving time and resources.

Ethereum posts robust growth, surges by 20% in 24 hours backed by an increase in trading activity in the derivatives market. A notable rise in open interest in Ethereum futures indicates fresh capital inflow. Despite a 26% fall this year, the potential for recovery exists. The rally also aligns with Ethereum being undervalued relative to Bitcoin since 2019. However, challenges such as supply pressure, weak demand, and flat activity could impact the rebound. Ethereum’s ongoing underperformance, stagnant network activity, and rising token supply are factors that demand caution.

Alex Mashinsky, founder of the now-defunct Celsius Network, has been sentenced to 12 years in prison for fraud charges related to a scheme that deceived investors and led to the company’s collapse. He was ordered to forfeit $48 million and several real estate properties. The company’s fall resulted in losses amounting to billions for its over 100,000 creditors. This case exemplifies the need for proper regulations and the application of existing anti-fraud rules in the growing digital assets market.

Bitcoin’s price goes above $100,000, boosting stocks linked to cryptocurrency including Coinbase and Bitcoin miners Mara and Riot. This surge is influenced by President Donald Trump’s announcement of a trade agreement between the U.S. and U.K with optimism for more deals. Bitcoin had previously reached a record high of around $109,000 ahead of Trump’s inauguration due to favourable crypto policies. Today’s rally marks a significant recovery from the low of $76,000 in early April.

Bitcoin lending platform Strike has issued over $10 million in loans within days of its launch. The platform allows Bitcoin holders to use their BTC as collateral for loans, aiming to evolve Bitcoin into a mature investment product. The current lending rates remain high due to the early stage of the Bitcoin lending market, but there is a commitment to reduce rates over time.

Explore the latest market update with CoinDesk Indices, featuring a detailed breakdown of the CoinDesk 20 Index performance. Find out about top performing assets, daily trading trends, and key market leaders and laggards. Uncover informative insights on global trading platforms.