JPMorgan noted that Bitcoin prices are currently high relative to production costs, leading them to anticipate minimal inflows in the coming months.
By the end of Monday, GME was trading at $24.89, a 62% drop from its two-year high of $61 last Thursday.
At the time of writing, $SOL was changing hands for $159.36. The altcoin has gained popularity due to its high-speed blockchain and reduced transaction costs, appealing to developers and investors alike.
Crypto Regulation, Cryptocurrency
FTX settles colossal $24B IRS claim, enabling swift customer recoveries
This settlement is a crucial development in FTX’s bankruptcy proceedings. It resolves a potential source of prolonged and uncertain litigation between the crypto exchange and its largest creditor.
Currently, $BNB is testing a critical resistance level at around $710. A break to $750 could encourage bulls, making analysts optimistic about $BNB’s price outlook.
Fidelity’s FBTC led the charge with $77.0482 million, while Bitwise’s BITB attracted $14.3145 million.
Coinbase has accused the SEC of stifling the crypto industry through “regulation by enforcement”.
Crypto traders now expect the newly-green lighted ETFs in the US to reduce Bitcoin’s market share, providing altcoins like Ethereum with more room to grow.
Recent updates to BlackRock’s S-1 filing with the SEC have ignited optimism within the crypto community regarding the potential launch of spot Ethereum ETFs.
The auction will follow a “blind auction” format, which differs from the direct sales methods used in previous transactions.
