The price of Ether could rally to $4,500 before the official approval of the first spot Ether exchange-traded funds (ETFs), according to Arthur Cheong, founder and CEO of DeFiance Capital.
In a May 26 X post, Cheong informed his 167,000 followers: “4.5k before spot ETF goes live for trading [in my opinion].”
As of 10:56 am UTC, Ether was trading at $3,903, up 2.57% in the previous 24 hours.
If Cheong’s prediction proves accurate, Ether’s price would need to increase by over 15% to reach the $4,500 mark, based on data from CoinMarketCap.
This prediction follows the U.S. Securities and Exchange Commission (SEC) approval on May 23 of the 19b-4 filings for eight spot Ether ETF issuers, allowing these ETFs to be listed and traded on their respective exchanges.
The first batch of approved ETFs includes filings from VanEck, BlackRock, Fidelity, Grayscale, Franklin Templeton, ARK 21Shares, Invesco Galaxy, and Bitwise.
While the 19b-4 filing approval is a positive sign from the SEC, ETF issuers still need approval for their S-1 filings, which could take months.
Bloomberg ETF analyst James Seyffart noted in a May 20 X post: “It could be weeks to months before we see S-1 approvals and thus a live ETH ETF… That said, if we’re correct and we see these theoretical approvals later this week. It should mean that S-1 approvals are a matter of ‘When’ not ‘If’…”
Ether’s price has shown strong upward movement following these developments related to spot Ether ETFs.
A potential rally to $4,500 seems plausible with further positive news, bringing Ether’s price within 8% of its all-time high of $4,891, reached on Nov. 16, 2021.
However, ETH faces significant resistance at the $4,000 and $4,100 levels.
Moving above $4,100 would liquidate over $500 million worth of leveraged short positions across all exchanges, according to CoinGlass data.
According to Andrey Stoychev, head of prime brokerage at Nexo, the ETF approval could be a major price catalyst during the current bull cycle, potentially propelling Ether’s price to $10,000.
Stoychev told Cointelegraph: “ETH ETFs in the U.S. and similar products in Asia could be the driver that helps the asset reach $10,000 by end-2024, catching up with Bitcoin’s performance post-ETF.”
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Early investors in memecoins like Shiba Inu (SHIB), Bonk (BONK) and Dogecoin (DOGE) made astronomical returns, and Daddy Trump (DADTRUMP) presents a similar opportunity for a limited time.
Daddy Trump (DADTRUMP), a newly launched Solana memecoin, is poised to explode over 17,000% in a matter of days, as former Shiba Inu (SHIB), Bonk (BONK) and Dogecoin (DOGE) investors pour funds into this new token.
DADTRUMP 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 Daddy Trump.
Currently, Daddy Trump 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 DADTRUMP on these platforms, users need to connect their Solflare, MetaMask or Phantom wallet, and swap Solana for Daddy Trump by entering its contract address – J3XpyA765g6ZxW5QpGRHahvA4uE3m7cq5Gw5CxkGMZCZ – in the receiving field.
DADTRUMP 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.
Elon Musk’s artificial intelligence venture, xAI, has successfully completed a $6 billion Series B funding round.
This funding round saw significant participation from investors such as Valor Equity Partners, Vy Capital, Andreessen Horowitz, Sequoia Capital, Fidelity Management & Research Company, and Prince Alwaleed Bin Talal through Kingdom Holding.
This milestone has propelled xAI’s valuation to $24 billion, achieved just 11 months after its launch in July 2023.
In comparison, OpenAI, the creator of ChatGPT, stands at a valuation of $80 billion, having launched in December 2015, giving it an eight-year lead over xAI.
The newly raised funds will be utilized by xAI to enhance the research and development of its AI systems aimed at societal benefits and to expedite the launch of its first product.
The announcement highlighted:
“xAI is primarily focused on the development of advanced AI systems that are truthful, competent, and maximally beneficial for all of humanity.
“The company’s mission is to understand the true nature of the universe.”
Following the funding announcement, Musk reached out to his 184 million followers, urging them to consider joining his AI venture.
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He stated in a May 27 X post:
“Join xAI if you believe in our mission of understanding the universe, which requires maximally rigorous pursuit of the truth, without regard to popularity or political correctness.”
Last November, xAI introduced its first AI chatbot, Grok-1, on X.
This was followed by Grok-1.5 on April 12, which added image-understanding capabilities to process documents, diagrams, charts, screenshots, and photos.
Additionally, in March, the network architecture of Grok-1 was open-sourced.
While Grok is still in its early stages compared to OpenAI’s ChatGPT, Musk anticipates that it could become a competitor by the end of this year.
Speaking at Viva Tech Paris 2024, he noted:
“xAI is a new company so it still has a lot of catching up to do before it has an AI that is competitive with Google DeepMind and OpenAI. Maybe towards the end of the year, we will have that.”
Despite his forward-looking goals, Musk has expressed concerns about the rapid development of AI.
“In March, over 2,600 tech experts, including Musk, signed an open letter calling for a pause on AI development, citing “profound risks to society and humanity.”
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Overpriced Pizza (OVERPIZZ) could turn early investors into multi-millionaires if it becomes a mainstream coin, like Shiba Inu (SHIB) and Dogecoin (DOGE).
Overpriced Pizza (OVERPIZZ), a new Solana memecoin that was launched this week, is poised to explode over 14,000% in price in the coming days.
This is because OVERPIZZ 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, Overpriced Pizza 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 Overpriced Pizza could become the next viral memecoin.
Overpriced Pizza launched with over $4,000 of locked liquidity, giving it a unique advantage over the majority of other new memecoins, and early investors could make huge gains.
To buy Overpriced Pizza on Raydium or Jupiter ahead of the KuCoin listing, users need to connect their Solflare, MetaMask or Phantom wallet, and swap Solana for Overpriced Pizza by entering its contract address – G443b8EoLKhAvoyMErW9Tqum2pR4Z57EPMQzVJMKS3Sf – 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 OVERPIZZ.
The rapid adoption of Worldcoin, an AI-centric identification project with its own cryptocurrency, has raised alarms among privacy advocates and regulators.
The project claims over 5 million individuals have participated in scanning their irises via a silver sphere, resembling a bowling ball.
In return, users receive online ID verification and are rewarded 25 WLD, approximately $115 in value.
By April 11, Worldcoin’s World App had garnered over 10 million sign-ups.
Sam Altman, the founder of Worldcoin and CEO of OpenAI, stated the project aims to create “a global financial and identity network based on proof of personhood,” essential in an AI-driven world.
However, since its inception, Worldcoin has faced significant criticism from privacy advocates like Edward Snowden.
Despite leveraging cryptocurrency and blockchain technology, the crypto community has shown tepid support.
Vahan P. Roth, an executive board member at Swissgrams AG, remarked that Worldcoin “blatantly contradicts the central ethos of cryptocurrencies – the core principles of anonymity and decentralization on which Bitcoin and its peers were founded.”
Regulators in several countries have banned the project, citing the collection of biometric data as a critical privacy threat.
This raises the question: is Worldcoin’s biometric data collection genuinely dangerous, or is it misunderstood?
Biometric data is highly sensitive and more concerning than other personal information.
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Rory Mir from the Electronic Frontier Foundation emphasized that biometric data is “largely unchangeable and difficult to obscure,” highlighting the need for strict protections and explicit consent.
In 2023, regulators in India, South Korea, Kenya, Germany, and Brazil began investigating Worldcoin’s practices.
Spain banned Worldcoin’s biometric data collection on March 18, 2024, and Hong Kong followed on May 22, halting operations due to unjustified data retention for AI training.
The Spanish Data Protection Agency (AEPD) cited reports of insufficient information and unauthorized data collection.
The National Court upheld the ban, prioritizing data protection over the company’s economic interests.
Christoph Schmon of the EFF explained that European regulation allows cross-border data protection enforcement, with Germany likely leading Worldcoin’s regulatory fate due to its headquarters location.
Worldcoin has responded by making its Orb software open source and introducing a “Personal Custody” feature for data security.
Despite these efforts, the company faces skepticism about the safety and privacy of its biometric data collection.
To regain trust, Worldcoin must demonstrate its commitment to user empowerment and data protection. While regulators need to enhance their understanding of such technologies to avoid misinformed bans, Worldcoin must address concerns to prove its product’s safety and privacy.
Worldcoin did not respond to all inquiries but emphasized its commitment to transparency and ongoing dialogue to clear up misunderstandings.
The core issue remains Worldcoin’s need to build trust and demonstrate the safety and utility of its protocol.
To submit a crypto press release (PR), send an email to sales@cryptointelligence.co.uk.
Pepe The Gay (PEPEGAY) could turn early investors into multi-millionaires, like Shiba Inu (SHIB) and Dogecoin (DOGE) did.
Pepe The Gay (PEPEGAY), a new Solana memecoin that was launched today, is poised to explode over 14,000% in price in the coming days.
Currently, Pepe The Gay 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 Pepe The Gay could become the next viral memecoin.
In fact, many early Shiba Inu and Dogecoin investors have been pouring funds into this new Solana memecoin.
Pepe The Gay launched with over $4,000 of locked liquidity, giving it a unique advantage over the majority of other new memecoins, and early investors could make huge gains.
To buy Pepe The Gay on Raydium or Jupiter ahead of the KuCoin listing, users need to connect their Solflare, MetaMask or Phantom wallet, and swap Solana for Pepe The Gay by entering its contract address – 46miVUNgCmhnBxXsXRwm1QuRg8VDtKjT4vMLEpJqd8vZ – 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 PEPEGAY.
A savvy trader made a staggering $2.7 million profit in just three days with the Donald Trump-themed MAGA (TRUMP) meme token.
The memecoin trader, identified as wallet “0x303,” invested over $535,000 to purchase six billion MAGA tokens on May 25.
This resulted in an over 505-fold return on his initial investment, as reported by Lookonchain on May 27:
“He spent $537.5K to buy 6B $MAGA on May 24 and May 25, then sold 1.5B $MAGA for 744K $USDT to take profits 10 minutes ago.
“He currently holds 4.5B $MAGA, worth $2.51M.”
The trader’s wallet consists entirely of MAGA tokens, which have surged over 82% in the past 24 hours.
The wallet’s value currently exceeds $2.2 million, having been worth over $4 million a few hours earlier, according to CoinStats data.
The MAGA token has experienced significant increases following pro-crypto comments from Republican presidential candidate Donald Trump.
On May 9, MAGA spiked over 78% intraday, with trading volume climbing over 62% to $281 million, after Trump expressed his support for crypto.
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“I’m fine with it. I want to make sure it’s good and solid and everything else. But I’m good with it.
“And if you like crypto in any form (and it comes in many different forms), if you are in favor of crypto, you better vote for Trump.”
The $2.7 million profit achieved by the savvy trader has led to widespread allegations of insider trading on X, with Datawallet commenting:
“No one spends $500k on a memecoin without some ‘extra’ knowledge.”
Last week, Lookonchain noted potential insider selling of MAGA memecoins, pointing out that an insider had previously spent 5.35 Ether to buy 33% of the MAGA supply using 22 different wallets.
However, pseudonymous X user Dominium suggested that the transactions could be due to maximal extractable value (MEV) bot activity, which exploits arbitrage opportunities to generate profits, rather than insider trading.
“That’s MEV bot transactions if you look at it carefully”
Many users have questioned the validity of Lookonchain’s claims, suggesting that the alleged insider could be an MEV bot.
Regardless of the cause, memecoins are known for their significant risks and price volatility.
For instance, an unfortunate memecoin trader recently lost over $1 million due to the Normie memecoin exploit, resulting in a more than 99% loss on his initial $1.16 million investment.
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 Daddy Trump (DADTRUMP) presents a similar opportunity for a limited time.
Daddy Trump (DADTRUMP), a newly launched Solana memecoin, is poised to explode over 17,000% in a matter of days, as former Shiba Inu (SHIB), Bonk (BONK) and Dogecoin (DOGE) investors pour funds into this new token.
DADTRUMP 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 Daddy Trump.
Currently, Daddy Trump 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 DADTRUMP on these platforms, users need to connect their Solflare, MetaMask or Phantom wallet, and swap Solana for Daddy Trump by entering its contract address – J3XpyA765g6ZxW5QpGRHahvA4uE3m7cq5Gw5CxkGMZCZ – in the receiving field.
DADTRUMP 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.
Santa on Solana (SANTASOL) could turn early investors into multi-millionaires if it becomes a mainstream coin, like Shiba Inu (SHIB) and Dogecoin (DOGE).
Santa on Solana (SANTASOL), a new Solana memecoin that was launched this week, is poised to explode over 14,000% in price in the coming days.
This is because SANTASOL 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, Santa on 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.
Early investors in SHIB and DOGE made astronomical returns, and Santa on Solana could become the next viral memecoin.
Santa on Solana launched with over $6,000 of locked liquidity, giving it a unique advantage over the majority of other new memecoins, and early investors could make huge gains.
To buy Santa on Solana on Raydium or Jupiter ahead of the KuCoin listing, users need to connect their Solflare, MetaMask or Phantom wallet, and swap Solana for Santa on Solana by entering its contract address – 9aKN9xRfKe9gzfA6cC1aVC88DvRpyjPhyBGEnSyLzR2D – 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 SANTASOL.
On May 26, a victim who lost 1,807 liquid staked Ether, valued at $6.91 million, reportedly received a significant portion of the stolen funds back from scammers.
“Yesterday, the old phishing group Inferno Drainer used the permit offline authorization signature to phish away nearly US$7 million in ETH re-pledged assets from a user,” wrote Yu Xian, co-founder of blockchain analytics firm SlowMist.
“Today, they actually got a refund, which is really rare.”
That same day, Scam Sniffer posted on X that the victim recouped 1,445 Ether, or 80% of the stolen funds, after the scammers allegedly kept a 20% bounty.
Analysts explained that the wallet involved had been targeted in a permit phishing attack, where a malicious actor creates a genuine off-chain authorization signature to transfer ERC-20 tokens from a wallet they do not own.
According to SlowMist, this type of attack exploits an overlooked feature in Ethereum permits, introduced through EIP-2612.
This protocol allows users to interact with smart contracts without prior authorization by attaching an authorization signature.
Unfortunately, the permit function can be executed by any account, regardless of ownership.
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This means that if users had previously compromised their wallet signatures on phishing websites, scammers could still use the permit exploit to siphon tokens from their wallets, even without user approval.
To protect against such attacks, SlowMist recommended periodic use of authorization tools like RevokeCash (https://revoke.cash) to identify any abnormal authorizations.
For Uniswap Permit2, they suggested using the authorization management tool at https://app.scamsniffer.io/permit2 for verification.
If any irregular authorizations are detected, it is crucial to revoke them promptly.
Not everyone was sympathetic to the victim in this incident.
“How do you get phished last year for $638K and then again this year for $6.9M? Some people are just careless with their assets,” commented prominent DeFi sleuth ZachXBT.
In March, Cointelegraph reported that cryptocurrency-related scams had increased by 53% within the past year.
According to the FBI, cryptocurrency-related investment fraud accounted for 86% of all investment losses within the United States in 2023.
To submit a crypto press release (PR), send an email to sales@cryptointelligence.co.uk.