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Home > News
Published: 31/03/2024
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Author: Leexim
Institutional Buying of Bitcoin Resumes in the US
The widening Coinbase premium suggests significant institutional buying of Bitcoin, while the potential surge in spot Bitcoin ETF inflows indicates a substantial increase in capital entering the market.
Azcnews Breaking (1)
Bitcoin continues to hover around the $70,000 mark. The cryptocurrency market has witnessed subdued activity amidst economic events, including signs of overheating in the US with the release of the PCE inflation data. However, the Coinbase insurance fee delta indicates that institutional investors are buying back in.
Institutional buying activity began to emerge on March 27, and the Coinbase insurance fee delta turned green again by the end of March 29, following the Fedâs preference for the PCE inflation measure. Analyst Maartunn revealed that since the morning of March 30, the Coinbase insurance fee delta has exceeded 50. He affirmed that US institutions have started buying back Bitcoin.
These figures are often used to determine when US institutions start buying Bitcoin, as it is a highly accurate indicator. This suggests the likelihood of increased capital flow into Bitcoin ETFs in the coming week, ahead of the Bitcoin halving expected in mid-April.
quicktake-image
The Coinbase premium is the difference between the Coinbase Pro price and the Binance price. A higher value typically indicates strong buying pressure from US investors on the cryptocurrency exchange Coinbase. Traders can closely monitor data and trading volumes to confirm market direction.
Analysts at Ryze Labs revealed that the gap between hedge funds and asset managers continues to widen. This difference indicates that while asset managers continue to buy Bitcoin futures contracts, hedge funds are short-selling. In the current price uptrend, this move hints at a potential short liquidation phase, which could fuel the next upward movement of Bitcoin.
Related: BlackRock CEO Very Bullish as Bitcoin ETF Hits $17B
Analyst Michael van de Poppe noted that Bitcoinâs sideways action has kept it around $70,000. However, he assures that Bitcoin is still following its four-year cycle. This cycle may come as a surprise to many. Over a five-year period, $70,000 per Bitcoin is considered a cheap price.
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3.0/5
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Avatar of Sabiu saminu rabiu
Sabiu saminu rabiu
31/03/2024 at 4:06 am
Thank you and Done
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Azcnews Breaking
News | Altcoin | Editor Choice 31/03/2024
MEW â Another Memecoin on Solana Impresses Investors
Yet another memecoin on the Solana network has impressed investors as its Market Cap has surpassed 500 million in just a mere 5 days since its launch. This meme is called Cat in a Dogs World (MEW).
Azcnews Breaking
News | Altcoin | Editor Choice 30/03/2024
Vitalik Buterin Shares Views on Memecoins
The cryptocurrency market is heating up day by day, especially with Memecoins, a type of cryptocurrency that lacks many utilities but is proving to be a force to be reckoned with. Recently, Ethereum CEO Vitalik Buterin shared his perspective on this type of coin.
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What is Dusk Network? Information about DUSK Token?
Privacy and security rights in digital platforms always receive significant attention from the cryptocurrency community. Dusk Network has been developed to address this issue. So, what is Dusk Network? Let's find out right away!
Azcnews Breaking
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What is Ethena (ENA)? Information about ENA Token?
Recently, Binance announced the listing of Ethena (ENA) as its 50th Binance Launchpool project. So, what is Ethena (ENA)? Let's explore ENA Token.
Azcnews Breaking1
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Home > News
Published: 31/03/2024
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Author: Kane
MEW â Another Memecoin on Solana Impresses Investors
Yet another memecoin on the Solana network has impressed investors as its Market Cap has surpassed 500 million in just a mere 5 days since its launch. This meme is called Cat in a Dogs World (MEW).
Azcnews Breaking
Table of Contents
The cryptocurrency world has just welcomed a new phenomenon â a brand new meme coin called MEW (Cat in Dogs World) is making waves on the Solana network. Within just 24 hours, the value of MEW has surged by nearly 170%, becoming the center of attention for the cryptocurrency investment community.
The surprising allure of MEW
Whatâs noteworthy is that even major crypto whales are attracted to this emerging meme coin. According to a recent report, a Solana whale investor has transferred a large amount of funds from the âhotâ BOME coin to MEW, causing a stir within the community. Specifically, this whale has accumulated up to 9.6 billion MEW tokens, accounting for 10.8% of the total supply, demonstrating strong confidence in the potential of the new token.
This event has sparked unprecedented excitement in the cryptocurrency investment world. Even before the whaleâs pivot, BOME also experienced a significant price surge. Clearly, these fluctuations reflect the optimistic sentiment among investors and confidence in the profit potential of new meme tokens.
Related: Investor Loses $147,000 Playing Memecoins on Solana
The âmemecoinâ race on Solana
MEWâs price breakthrough is seen as the next phase of the dizzying price trend that other meme coins like WIF, BONK, and BOME have experienced on the Solana network. This makes MEW a formidable competitor in the vibrant âmeme tokenâ race.
Meme Mew On Solana
Memecoin Mew On Solana
As of now, MEWâs price has increased by 142.95% in the past 24 hours, reaching $0.0076. Market capitalization has reached $639.45 million, up 140.78% from the previous day. 24-hour trading volume has also surged by 322.97%, reaching $448.602 million, indicating the growing appeal of the new token.
While Solana continues its upward trend by 5.78% to $196.56, WIF â MEWâs direct competitor â has also climbed to $4.50, up 22.98%. The meme token battle is becoming increasingly intense and heated in the âland of promiseâ Solana.
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#meme coin
#MEW
#Solana
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Azcnews Breaking (1)
News | Bitcoin | Editor Choice 31/03/2024
Institutional Buying of Bitcoin Resumes in the US
The widening Coinbase premium suggests significant institutional buying of Bitcoin, while the potential surge in spot Bitcoin ETF inflows indicates a substantial increase in capital entering the market.
Azcnews Breaking
News | Altcoin | Editor Choice 30/03/2024
Vitalik Buterin Shares Views on Memecoins
The cryptocurrency market is heating up day by day, especially with Memecoins, a type of cryptocurrency that lacks many utilities but is proving to be a force to be reckoned with. Recently, Ethereum CEO Vitalik Buterin shared his perspective on this type of coin.
Azcnews Breaking
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What is Dusk Network? Information about DUSK Token?
Privacy and security rights in digital platforms always receive significant attention from the cryptocurrency community. Dusk Network has been developed to address this issue. So, what is Dusk Network? Let's find out right away!
Azcnews Breaking
News | Altcoin | Editor Choice | Research 29/03/2024
What is Ethena (ENA)? Information about ENA Token?
Recently, Binance announced the listing of Ethena (ENA) as its 50th Binance Launchpool project. So, what is Ethena (ENA)? Let's explore ENA Token.
Azcnews Breaking1
News | Altcoin | Editor Choice 29/03/2024
Binance Announces Listing of Ethena (ENA) on Launchpool
Binance exchange announces its 50th launchpool project, Ethena (ENA), a decentralized protocol issuing stablecoin built on Ethereum.
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Home > Airdrops
Published: 28/03/2024
-
Author: Kane
LuckyX â Easter Egg Hunt on BingX
BingX exchange is hosting the "LuckyX - Easter Egg Hunt" event, where players who reach a trading volume of over 5000 USD will receive one egg to crack open for rewards. Learn more here!
Azcnews Breaking
Recently, on March 27th, the BingX cryptocurrency exchange organized the âLuckyX â Easter Egg Huntâ event to encourage users to increase trading in futures contracts.
In this event, users can receive one âResurrection Eggâ for each standard and perpetual futures contract trading volume reaching 5,000 USDT (only applicable to cryptocurrency trading pairs). Each user can receive a maximum of 20 âResurrection Eggsâ per day.
Bingx 2
Event duration: From 00:00 on March 27, 2024, to 23:59 on March 31, 2024 (UTC+8).
Users can register to participate in the event here.
Notes and Terms on BingX
Rewards are only given once. For each BingX account, trading volume is counted only once for the reward throughout the event period. BingX will provide the highest reward level to users from each event type.
Only trades held for more than 1 minute are counted for this event.
Any users engaging in unfair activities, such as using multiple accounts (same IP address, device, or KYC), will be disqualified from the event.
Users are not allowed to use Trial Fund and Bonus to conduct money laundering trades. If violated, any received rewards will be deducted.
BingX reserves the ultimate right to interpret this event.
Related: How to Participate in the Backpack Airdrop
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#Airdrop
#BingX
4.0/5
(6 votes)
Avatar of Tolulope olugbemiji Israel
Tolulope olugbemiji Israel
28/03/2024 at 7:43 pm
This is a very good project
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Avatar of Nuru Ali Othman
Nuru Ali Othman
28/03/2024 at 11:04 pm
Hi
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Anonymous
29/03/2024 at 5:29 am
It is a good project
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Azcnews Breaking
News | Altcoin | Editor Choice 30/03/2024
Vitalik Buterin Shares Views on Memecoins
The cryptocurrency market is heating up day by day, especially with Memecoins, a type of cryptocurrency that lacks many utilities but is proving to be a force to be reckoned with. Recently, Ethereum CEO Vitalik Buterin shared his perspective on this type of coin.
Azcnews Breaking
News | Altcoin | Editor Choice | Research 29/03/2024
What is Dusk Network? Information about DUSK Token?
Privacy and security rights in digital platforms always receive significant attention from the cryptocurrency community. Dusk Network has been developed to address this issue. So, what is Dusk Network? Let's find out right away!
Azcnews Breaking
News | Altcoin | Editor Choice | Research 29/03/2024
What is Ethena (ENA)? Information about ENA Token?
Recently, Binance announced the listing of Ethena (ENA) as its 50th Binance Launchpool project. So, what is Ethena (ENA)? Let's explore ENA Token.
Azcnews Breaking1
News | Altcoin | Editor Choice 29/03/2024
Binance Announces Listing of Ethena (ENA) on Launchpool
Binance exchange announces its 50th launchpool project, Ethena (ENA), a decentralized protocol issuing stablecoin built on Ethereum.
Azcnews Breaking
News | Altcoin | Editor Choice 29/03/2024
Prisma Finance Hacked for $11 Million
Prisma Finance, a leading decentralized finance (DeFi) protocol, has fallen victim to a sophisticated hack related to the FixFloat exchange, resulting in a loss of $9 million.
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