Kraken to List Cardano Memecoin SNEK Big Win for ADA Ecosystem
Kraken, a major cryptocurrency exchange, will list the Cardano-based memecoin SNEK on April 28. Deposits and withdrawals for SNEK are already enabled for users where regulations allow, but trading will begin on the 28th. Following the announcement, SNEK's price increased by over 17%, trading around $0.00357, with a fully diluted valuation of approximately $273 million and a 42% gain over the past week. The listing is viewed as a significant step for the Cardano ecosystem, potentially leading to more listings of Cardano-native tokens on major exchanges.
$XLM Is Climbing: Massive Moves Incoming?
Stellar (XLM) is currently trading around $0.29 and is attempting to break through a resistance level of $0.30. Analysts believe that if XLM successfully breaks and holds above $0.30, it could trigger a bullish market structure, potentially leading to a price increase towards $0.63 in the coming weeks. Investor sentiment is improving, partly due to new partnerships, including a collaboration with AEON to expand Web3 mobile payments across Southeast Asia using XLM and Stellar-USDC. Stellar's market capitalization is over $8.86 billion, and it has increased by over 150% in the past year, reaching a peak of $0.57 before a pullback.
Bitcoin Advanced Sentiment Index Signals Strength Bears Face Risks As Bulls Take Control
Bitcoin's market sentiment is shifting positively after reclaiming the $90,000 level, indicating a potential recovery rally. CryptoQuant's Bitcoin Advanced Sentiment Index shows rising confidence at 67%, historically linked to bullish trends. Bulls are currently in control of short-term price action, but the sustainability of this rally is uncertain due to global tensions, particularly US-China trade relations. Bitcoin is trading around $94,200, facing a key resistance zone between $95,000 and $96,000; a breakout above this level could lead to $100,000. Analysts suggest a possible consolidation phase below $95,000 before the next move. Maintaining support above $90,000-$91,000 is crucial for sustaining bullish momentum.
Trumps Fed chair pick-in-waiting slams Powell for systematic errors
Kevin Warsh, a potential replacement for Jerome Powell as Federal Reserve chair being considered by Donald Trump, criticized the Fed's recent performance, claiming it made significant errors that led to high inflation. He argued the Fed expanded its focus beyond its core mission, enabling excessive government spending due to the Fed's bond-buying programs which kept financing costs artificially low. Warsh also pointed to the Fed's involvement in climate change and social inclusion initiatives as examples of mission creep. Trump has previously expressed dissatisfaction with Powell, but later indicated he wouldn't fire him, easing market concerns about the Fed's independence. Treasury Secretary Scott Bessent suggested the search for a new Fed chair will begin this fall with Warsh and Kevin Hassett as leading candidates. Despite supporting the Fed's operational independence in setting interest rates, Warsh believes the Fed should face scrutiny when its policies lead to poor economic outcomes.
Heres What Needs to Happen for XRP to Reach $100
The article discusses the possibility of XRP reaching a price of $100, a significant increase from its current value around $0.52. While some analysts believe this is possible in the long term, the article points out that for XRP to reach $100 with its current supply of 99 billion tokens, its market capitalization would need to be $9.9 trillion. Even if Ripple burned its escrowed tokens, leaving 63 billion in supply, the market cap would still need to reach $6.3 trillion for XRP to reach $100. To make this feasible, the overall cryptocurrency market would need to grow substantially, potentially reaching a valuation of $113.33 trillion, which would also imply a Bitcoin price of $3.4 million. The article contrasts XRP's recent performance with Bitcoin's, noting that XRP has not experienced the same level of recovery.
$HBAR on the Edge: Why Are Analysts Eyeing a Bullish Reversal?
Hedera's $HBAR is currently trading around $0.19, with analysts observing a falling wedge pattern suggesting a possible upward price movement. If $HBAR breaks through the $0.20 resistance level, analysts predict a potential rise to $0.36. Market sentiment is mixed, with positive signals coming from increasing use and new partnerships, but the SEC's delay in deciding on a Hedera ETF is causing some investor hesitation. Hedera, with a market cap of $8.2 billion, has increased in value by 58% over the past year and is designed as a platform for decentralized applications.
How To Price Bitcoin? BlackRock Exec Explains
BlackRock's US Head of Equity ETFs, Jay Jacobs, suggests Bitcoin should be valued as an uncorrelated asset that performs well during times of global uncertainty. He notes that Bitcoin's long-term correlation with US stocks is minimal, around 2-3%, and that Bitcoin's value increases when equities decline due to uncertainty and geopolitical risks. This perspective is tied to significant inflows into Bitcoin, particularly into BlackRock's iShares Bitcoin Trust (IBIT), which recently saw a record one-day inflow of $643 million, bringing its total assets to approximately $54 billion. Jacobs also links the interest in Bitcoin to a broader trend of central banks diversifying their holdings away from the US dollar and towards assets like gold and Bitcoin, driven by geopolitical fragmentation. Bitcoin traded at $94,510 at press time.
Why BlackRock Is Not Filing XRP ETF?
BlackRock, the world's largest asset manager, has not filed for an XRP ETF because it's currently focused on its successful Bitcoin and Ethereum ETFs, with the Bitcoin ETF holding over $30 billion in assets and the Ethereum ETF surpassing $1 billion in two months. The company is waiting for stronger institutional demand for XRP and is monitoring how competitors like Grayscale and Franklin Templeton navigate the XRP ETF space. Grayscale has filed for an XRP ETF, signaling growing confidence among smaller asset managers. The SEC's stance on XRP ETFs is uncertain due to the ongoing Ripple vs. SEC legal battle, which significantly impacts the potential approval timeline for an XRP ETF. An XRP ETF would allow investors to gain exposure to XRP's price without directly buying the cryptocurrency.
Altcoins To Wait As Bitcoin Price Eyes $110,000 Breakout Arthur Hayes
Arthur Hayes, former BitMEX CEO, predicts Bitcoin's price could surge past $110,000, potentially reaching $200,000 due to U.S. fiscal and monetary policies injecting liquidity into markets. Hayes' firm, Maelstrom, increased its Bitcoin holdings when the price dropped from $110,000 to $74,500. Hayes believes U.S. Treasury strategies and Federal Reserve actions are creating a favorable environment for Bitcoin. He sees Bitcoin acting as a safe haven asset, like gold, amid economic uncertainty. Hayes suggests altcoins will rally after Bitcoin surpasses $110,000, anticipating Bitcoin dominance to increase first. Bitcoin has recently shown positive movement, breaking the $88,000 resistance and potentially heading towards $100,000, with pullbacks considered buying opportunities.
XRP ETF News: Brazil Worlds First Spot XRP ETF XRPH11 is Now Live!
Brazil has launched the world's first spot XRP ETF, named XRPH11, on its stock exchange B3. Issued by Hashdex and managed by Genial Investimentos, the ETF tracks the Nasdaq XRP Reference Price Index, allocating at least 95% of its assets to XRP, including spot holdings and futures. This launch contrasts with the U.S., where regulatory delays persist for similar products. Hashdex aims XRPH11 at institutional investors, emphasizing transparency and investor protection. Globally, XRP-focused ETFs currently hold about $950 million in assets, with recent inflows showing increased interest. Analysts estimate potential inflows of up to $8 billion into XRP ETFs over time. The U.S. SEC is expected to decide on several XRP spot ETF applications by May 22, 2025, with high market optimism for approval. Hashdex is also planning to include other altcoins such as Solana (SOL), Cardano (ADA), Chainlink (LINK), Avalanche (AVAX), Litecoin (LTC), and Uniswap (UNI) in future ETF offerings. XRPH11's performance could influence XRP's price in the short term, with potential for both upward price movement and volatility.
Ethereum To Hit $5k Before Its 10th Birthday, Justin Sun Says
Justin Sun, founder of the Tron blockchain, predicts Ethereum will reach $5,000 before its 10th anniversary in July 2025. Currently, Ethereum is valued around $1,789. Sun suggests the Ethereum Foundation halt ETH sales for three years, use lending and staking for funding, streamline its team, and focus on Layer 1 network development. The Ethereum Foundation is planning global events to celebrate the anniversary and will reimburse up to $500 for local events. Ethereum is preparing for the Pectra upgrade in May 2025, which aims to lower transaction fees and improve contract execution.