Data from CryptoQuant shows that approximately 797,000 Ether, valued at $3.02 billion, was removed from exchanges between May 23 and June 2.
This reduction in exchange reserves suggests fewer coins are available for sale as investors move their assets to self-custody for purposes other than immediate selling.
Leon Waidmann, an analyst at BTC-ECHO, highlighted that Glassnode data reveals the percentage of Ether held on exchanges has dropped to its lowest level in years, now at just 10.6% of the circulating supply.
Bloomberg ETF analyst Eric Balchunas recently suggested that Ether ETFs have a “legit possibility” of launching by late June.
Some analysts predict that the introduction of spot Ether ETFs could drive Ether to surpass its November 2021 all-time high of $4,870 due to increased demand, mirroring the effect seen with Bitcoin after the launch of spot Bitcoin ETFs in January.
READ MORE: President Biden Vetoes Repeal of SAB 121 as ABA Urges Support for Digital Asset Safeguarding
Michael Nadeau, a DeFi report crypto analyst, noted on May 28 that Ether might benefit more from demand pressures than Bitcoin because it lacks the same “structural sell pressure.”
Unlike Bitcoin miners, who must sell BTC to cover mining costs, Ethereum validators do not face similar operational expenses.
However, there are concerns about the potential impact of Grayscale’s Ethereum Trust (ETHE), which manages $11 billion in funds.
If it mirrors the Grayscale Bitcoin Trust (GBTC), which experienced $6.5 billion in outflows in the first month post-approval, it could significantly influence Ether’s price action.
Currently, Ether is trading at $3,781, marking a 0.82%
decrease over the past 24 hours and is down around 23% from its all-time high, according to CoinMarketCap.
To submit a crypto press release (PR), send an email to sales@cryptointelligence.co.uk.
Investing Cat could turn early investors into multi-millionaires, like Shiba Inu (SHIB) and Dogecoin (DOGE) did.
Investing Cat (INVESCAT), a new Solana memecoin that was launched today, is poised to explode over 14,000% in price in the coming days.
This is because INVESCAT has announced its first centralized exchange listing, which will be on KuCoin.
This will give the Solana memecoin exposure to millions of additional investors, who will pour funds into the coin and drive its price up.
Currently, Investing Cat can only be purchased via Solana decentralized exchanges, like Jupiter and Raydium, and early investors stand to make huge returns in the coming days.
Early investors in SHIB and DOGE made astronomical returns, and Investing Cat could become the next viral memecoin.
Investing Cat launched with over $3,000 of locked liquidity, giving it a unique advantage over the majority of other new memecoins, and early investors could make huge gains.
To buy Investing Cat on Raydium or Jupiter ahead of the KuCoin listing, users need to connect their Solflare, MetaMask or Phantom wallet, and swap Solana for Investing Cat by entering its contract address – HvHUQXE4HffWYTJQpzJrf6nztyHoi9CajD3M58Hut3Ra – in the receiving field.
In fact, early investors could make returns similar to those who invested in Shiba Inu (SHIB) and Dogecoin (DOGE) before these memecoins went viral and exploded in price.
If this happens, a new wave of memecoin millionaires could be created in a matter of weeks – or potentially even sooner.
The Solana memecoin craze continues amid larger memecoins, like Shiba Inu (SHIB), Dogecoin (DOGE) and DogWifHat (WIF) trading sideways in recent weeks and losing momentum.
This is why many SHIB, DOGE and WIF investors are instead investing in new Solana memecoins, like INVESCAT.
The GameStop (GME) stock price surged over 19% in overnight trading after Keith Gill, known as “Roaring Kitty,” revealed on Reddit that he’s holding $181.4 million worth of GME stock and call options.
Gill, a key figure in the 2021 GME short squeeze, posted on Reddit via his “DeepFuckingValue” account on June 2, marking his first activity since April 2021.
He shared a screenshot showing his purchase of 5 million GME shares for $115.7 million and an investment of $65.7 million in call options, betting that GME would be at least $20 a share by June 21.
His screenshot indicated a gain of over $9.3 million on his GME holdings, although he was experiencing a loss of nearly $2.5 million on his call options.
Following Gill’s post, GME surged by 19.19% in 20 minutes, reaching $27.58 in Robinhood’s overnight markets.
GameStop closed at $23.14 on Friday, May 31, with shares up 38.8% in 2024, according to Google Finance. This increase appears to be influenced by Gill’s return.
Additionally, Gill posted a cryptic green Uno reverse card to X, adding to the mysterious posts and memes he’s shared since his return in May.
During the COVID-19 pandemic, Gill was seen as a central figure in the GameStop saga, where Reddit traders countered hedge funds shorting the struggling brick-and-mortar game store.
Their actions sent GameStop’s stock price soaring over 1,000% in under a month. Some believe the GameStop short squeeze set the stage for the surge in memecoins like Dogecoin and Shiba Inu after retail investors shifted their focus.
Previously, Gill posted on the r/wallstreetbets subreddit, now famous for its role in the GameStop short squeeze.
However, the forum has since distanced itself from GME content, with moderator “zjz” stating on June 3 that “this is not a GameStop subreddit.”
Gill’s latest post was on the r/Superstonk subreddit, which mainly speculates on GME.
Gill’s previous post on April 16 on r/wallstreetbets showed he owned 20,000 GME shares at a buy price of $55.17 per share, holding a gain of $19.9 million at that time.
To submit a crypto press release (PR), send an email to sales@cryptointelligence.co.uk.
Trump Loves Crypto (TRUMPCRY) could become a viral memecoin, like Shiba Inu (SHIB) and Dogecoin (DOGE).
Trump Loves Crypto (TRUMPCRY), a Solana memecoin that was launched this week, is aiming to challenge other memecoin giants, such as Shiba Inu (SHIB) and Dogecoin (DOGE).
Early investors in SHIB and DOGE made astronomical returns, and Trump Loves Crypto presents a similar opportunity.
Trump Loves Crypto has a market cap below $15,000 at the moment, meaning that when it just reaches a modest market cap of $400,000-$800,000, early investors would generate returns of 2,000%-5,000% in a matter of days or hours.
The exciting memecoin is poised to rally 16,000% in the coming two days, and Trump Loves Crypto could potentially reach a multi-million dollar market cap within a few weeks.
Currently, Trump Loves Crypto can only be purchased via Solana decentralized exchanges, like Jupiter and Raydium, and early investors stand to make huge returns in the coming days.
To buy Trump Loves Crypto on these platforms, users need to connect their Solflare, MetaMask or Phantom wallet, and swap Solana for Trump Loves Crypto by entering its contract address – C6NUpDLHJT7eZbUwzv8Fu4Rx3X8CD4MapRGD6pZ6YfrH – in the receiving field.
In fact, early investors could make returns similar to those who invested in Shiba Inu (SHIB) and Dogecoin (DOGE) before these memecoins went viral and exploded in price.
If this happens, a new wave of memecoin millionaires could be created in a matter of weeks – or potentially even sooner.
The Solana memecoin craze continues amid larger memecoins, like Shiba Inu (SHIB), Dogecoin (DOGE) and DogWifHat (WIF) trading sideways in recent weeks and losing momentum.
This is why many SHIB, DOGE and WIF investors are instead investing in new Solana memecoins, like TRUMPCRY.
Cat Wif USD (CATUSD) could become a viral memecoin, like Shiba Inu (SHIB) and Dogecoin (DOGE).
Cat Wif USD (CATUSD), a Solana memecoin that was launched today, is aiming to challenge other memecoin giants, such as Shiba Inu (SHIB) and Dogecoin (DOGE).
Early investors in SHIB and DOGE made astronomical returns, and Cat Wif USD presents a similar opportunity.
Cat Wif USD has a market cap below $13,000 at the moment, meaning that when it just reaches a modest market cap of $400,000-$800,000, early investors would generate returns of 2,000%-5,000% in a matter of days or hours.
The exciting memecoin is poised to rally 11,000% in the coming two days, and Cat Wif USD could potentially reach a multi-million dollar market cap within a few weeks.
Currently, Cat Wif USD can only be purchased via Solana decentralized exchanges, like Jupiter and Raydium, and early investors stand to make huge returns in the coming days.
To buy Cat Wif USD on these platforms, users need to connect their Solflare, MetaMask or Phantom wallet, and swap Solana for Cat Wif USD by entering its contract address – 4MyaakzbNjk2ibjahcWzeB7fK4EWWJvS9K933C6P8JLb – in the receiving field.
In fact, early investors could make returns similar to those who invested in Shiba Inu (SHIB) and Dogecoin (DOGE) before these memecoins went viral and exploded in price.
If this happens, a new wave of memecoin millionaires could be created in a matter of weeks – or potentially even sooner.
The Solana memecoin craze continues amid larger memecoins, like Shiba Inu (SHIB), Dogecoin (DOGE) and DogWifHat (WIF) trading sideways in recent weeks and losing momentum.
This is why many SHIB, DOGE and WIF investors are instead investing in new Solana memecoins, like CATUSD.
The upcoming European Union elections this week could significantly impact crypto regulations and the approval of spot Ether exchange-traded funds (ETFs).
The EU parliamentary elections, scheduled from June 6 to June 9, present a pivotal moment for future crypto regulations, according to Jag Kooner, head of derivatives at Bitfinex. Kooner told Cointelegraph:
“The elections could see a major shift in the political landscape, with right-wing and populist parties expected to gain substantial ground.
“This shift could influence regulatory stances, potentially leading to more stringent controls or, conversely, more supportive policies depending on the composition of the new parliament.”
Right-wing parties are anticipated to gain more influence during the 2024 elections.
This trend could lead to increased protective measures for the crypto industry, as noted by Marina Markezic, co-founder and executive director of the European Crypto Initiative (EUCI). Markezic told Cointelegraph:
“The right-wing trend will likely leave its mark on the Commission’s activities, including the expected portfolios of the upcoming Commissioners, which might present more visible protectionist tendencies.”
However, Markezic also highlighted that these right-wing parties could become unexpected allies for innovation-friendly crypto regulations:
“This political shift might lead to the adoption of the generally counter-status quo rhetoric of the crypto industry by representatives from the (far) right, presenting a new and unexpected ally for the crypto advocacy topics in Brussels and Strasbourg.”
The election outcomes could also impact the implementation of the Markets in Crypto-Assets (MiCA) bill, the EU’s first comprehensive regulatory framework for cryptocurrencies, set to take full effect in December 2024.
Despite the potential for more conservative crypto regulations, spot Ether ETFs are gaining traction in Europe.
This follows the U.S. SEC’s approval on May 23 for eight spot Ether ETF issuers, allowing their listing and trading on respective exchanges.
This decision has boosted confidence among European financial institutions regarding Ether ETFs. Kooner from Bitfinex remarked:
“The approval of Ethereum ETFs in the EU is gaining traction… VanEck and Franklin Templeton have already listed their ETH ETFs on the DTCC in anticipation of regulatory approval.
This move sets a strong precedent for the EU, where the regulatory framework provided by the MiCA regulation could facilitate similar approvals.”
Some of Europe’s largest banks are entering the crypto space due to the clarity offered by the MiCA bill.
For instance, Germany’s largest federal bank, Landesbank Baden-Württemberg (LBBW), announced it would provide crypto custody services to institutional clients starting in the second half of the year.
Additionally, Austria’s largest community banking group, Raiffeisen, partnered with Bitpanda at the end of April to offer digital asset services to retail banking customers.
To submit a crypto press release (PR), send an email to sales@cryptointelligence.co.uk.
Early investors in memecoins like Shiba Inu (SHIB), Bonk (BONK) and Dogecoin (DOGE) made astronomical returns, and Wall Street Fuks (WALLFUKS) presents a similar opportunity for a limited time.
Wall Street Fuks (WALLFUKS), a newly launched Solana memecoin, is poised to explode over 14,000% in a matter of days, as former Shiba Inu (SHIB), Bonk (BONK) and Dogecoin (DOGE) investors pour funds into this new token.
WALLFUKS will be listed on KuCoin, one of the largest centralized exchanges in the world, within a few days – and this is a massively bullish development for the token, as millions of new investors will easily be able to buy Wall Street Fuks.
Currently, Wall Street Fuks can only be purchased via Solana decentralized exchanges, like Jupiter and Raydium, and early investors stand to make huge returns in the coming days.
To buy WALLFUKS on these platforms, users need to connect their Solflare, MetaMask or Phantom wallet, and swap Solana for Wall Street Fuks by entering its contract address – 9e78F6i3eZ5Rm4jgS7PuRHKMoKcpxfmFeX6N9nF3HNXm – in the receiving field.
WALLFUKS currently has a market cap of just under $10,000, with over $4,000 in locked liquidity, meaning it has huge upside potential.
Early investors could make returns similar to those who invested in Shiba Inu (SHIB), Dogecoin (DOGE) and Bonk (BONK) before these memecoins went viral and exploded in price.
If this happens, a new wave of memecoin millionaires could be created in a matter of weeks – or potentially even sooner.
Bitcoin could potentially reach a peak of $130,000 to $150,000 between late August and early September, following patterns observed in previous post-halving bull markets, according to crypto trader Peter Brandt.
The Bitcoin halving event, which occurred on April 20, is a scheduled event approximately every four years that cuts mining rewards by half. Brandt highlighted in a June 2 report that these halving dates have historically marked significant points in bull market cycles.
Brandt noted that historically, the halving date has been situated roughly halfway between the start of a bull market and its peak.
For instance, the last Bitcoin bull market began about 16 months before the May 11, 2020, halving and concluded around 18 months later, according to his analysis.
The two previous halvings, on July 9, 2016, and November 28, 2012, exhibited similar trends.
Brandt suggested that if this pattern continues, “the next bull market cycle high should occur in late Aug/early Sep 2025.”
READ MORE: Ripple CEO Brad Garlinghouse Predicts Inevitable Crypto ETFs Amid $5 Trillion Market Optimism
Despite the historical patterns, Brandt emphasized that predicting Bitcoin’s cycle high is not foolproof, stating that “no method of analysis is fool-proof.”
However, if the past growth pattern continues, he estimates a bull market high “in the $130,000 to $150,000 range.”
Considering the possibility of Bitcoin already peaking, Brandt’s analysis indicates that the current bull market started on December 17, 2022, when BTC was trading around $16,800.
Since then, it has surged over 300%, reaching $67,882, according to Cointelegraph Markets Pro.
Although Bitcoin has dropped from its all-time high of $73,679 on March 14, Brandt believes there’s a 25% chance that Bitcoin has already reached its bull market top.
He noted that the gains in each bull cycle have been decreasing compared to the previous ones.
Brandt warned that if Bitcoin fails to achieve a new all-time high and falls below $55,000, he would consider the probability of the cryptocurrency undergoing an “exponential decay” to be higher.
To submit a crypto press release (PR), send an email to sales@cryptointelligence.co.uk.
Early investors in memecoins like Shiba Inu (SHIB), Bonk (BONK) and Dogecoin (DOGE) made astronomical returns, and Pepe Loves Solana (PEPELSOL) presents a similar opportunity for a limited time.
Pepe Loves Solana (PEPELSOL), a newly launched Solana memecoin, is poised to explode over 14,000% in a matter of days, as former Shiba Inu (SHIB), Bonk (BONK) and Dogecoin (DOGE) investors pour funds into this new token.
PEPELSOL will be listed on KuCoin, one of the largest centralized exchanges in the world, within a few days – and this is a massively bullish development for the token, as millions of new investors will easily be able to buy Pepe Loves Solana.
Currently, Pepe Loves Solana can only be purchased via Solana decentralized exchanges, like Jupiter and Raydium, and early investors stand to make huge returns in the coming days.
To buy PEPELSOL on these platforms, users need to connect their Solflare, MetaMask or Phantom wallet, and swap Solana for Pepe Loves Solana by entering its contract address – 5wjHhZyWzpCgCr7DtSwctAEH8ujGkJYuyXG9DeQKnX6R – in the receiving field.
PEPELSOL currently has a market cap of just under $10,000, with over $4,000 in locked liquidity, meaning it has huge upside potential.
Early investors could make returns similar to those who invested in Shiba Inu (SHIB), Dogecoin (DOGE) and Bonk (BONK) before these memecoins went viral and exploded in price.
If this happens, a new wave of memecoin millionaires could be created in a matter of weeks – or potentially even sooner.
The GameStop (GME) stock price surged over 19% in overnight trading after Keith Gill, known as “Roaring Kitty,” revealed on Reddit that he’s holding $181.4 million worth of GME stock and call options.
Gill, a key figure in the 2021 GME short squeeze, posted on Reddit via his “DeepFuckingValue” account on June 2, marking his first activity since April 2021.
He shared a screenshot showing his purchase of 5 million GME shares for $115.7 million and an investment of $65.7 million in call options, betting that GME would be at least $20 a share by June 21.
His screenshot indicated a gain of over $9.3 million on his GME holdings, although he was experiencing a loss of nearly $2.5 million on his call options.
Following Gill’s post, GME surged by 19.19% in 20 minutes, reaching $27.58 in Robinhood’s overnight markets.
GameStop closed at $23.14 on Friday, May 31, with shares up 38.8% in 2024, according to Google Finance. This increase appears to be influenced by Gill’s return.
Additionally, Gill posted a cryptic green Uno reverse card to X, adding to the mysterious posts and memes he’s shared since his return in May.
During the COVID-19 pandemic, Gill was seen as a central figure in the GameStop saga, where Reddit traders countered hedge funds shorting the struggling brick-and-mortar game store.
Their actions sent GameStop’s stock price soaring over 1,000% in under a month. Some believe the GameStop short squeeze set the stage for the surge in memecoins like Dogecoin and Shiba Inu after retail investors shifted their focus.
Previously, Gill posted on the r/wallstreetbets subreddit, now famous for its role in the GameStop short squeeze.
However, the forum has since distanced itself from GME content, with moderator “zjz” stating on June 3 that “this is not a GameStop subreddit.”
Gill’s latest post was on the r/Superstonk subreddit, which mainly speculates on GME.
Gill’s previous post on April 16 on r/wallstreetbets showed he owned 20,000 GME shares at a buy price of $55.17 per share, holding a gain of $19.9 million at that time.
To submit a crypto press release (PR), send an email to sales@cryptointelligence.co.uk.