What's Going On Right Now In Crypto? Daily Summary of Crypto News
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Today's cryptocurrency news:
Why is the cryptocurrency market down right now?
After the approval of the ETF, CME Ether Option Volumes Reach All-Time Highs
Users can follow top performers and replicate their strategies with Nansen.
Welcome to the Tezos Ecosystem, World of Women
Why is the cryptocurrency market down right now?
Today has seen yet another dip into the red for the cryptocurrency market.
The $2.78 trillion market valuation of cryptocurrencies worldwide has not moved in the last 24 hours.
But throughout this time, the prices of the bulk of the top 100 coins have dropped.
In this category, FLOKI fell the most, falling 8.6% to $0.000313.
CORE is next, down 7.5% to trade at $1.94.
Meanwhile, Zebec Protocol (ZBC) and BRETT are now performing the best. At $0.02266, they are up 12% and 20%, respectively.
The remaining green coins have increased by 6.5% to 1%.
Of the top 10 coins by market capitalization, just two are up as of right now.
Lido Staked Ether (STETH) and Ethereum (ETH) are both up 1.1% to $3,848.
Toncoin (TON), on the other side, has decreased the most. Now trading at $7.3, it is down 3%.
The majority of other red coins have dropped by about 1%.
BTC, or bitcoin, dropped the least. It is trading at $70,954, down 0.2% from its previous price.
Investors in the US can now access ETFs that follow twice as much Ethereum's daily activity. On June 4, Volatility Shares introduced ETHU, a 2x Ether ETF.
In related news, financial firm VanEck projected that by 2030, the price of ETH would reach $22,000. The revolutionary power of Ethereum and the anticipated income it would bring in for token holders are among the contributing causes.
After the approval of the ETF, CME Ether Option Volumes Reach All-Time Highs
Today's cryptocurrency news
Today has seen yet another dip into the red for the cryptocurrency market.
The $2.78 trillion market valuation of cryptocurrencies worldwide has not moved in the last 24 hours.
But throughout this time, the prices of the bulk of the top 100 coins have dropped.
In this category, FLOKI fell the most, falling 8.6% to $0.000313.
CORE is next, down 7.5% to trade at $1.94.
Meanwhile, Zebec Protocol (ZBC) and BRETT are now performing the best. At $0.02266, they are up 12% and 20%, respectively.
The remaining green coins have increased by 6.5% to 1%.
Of the top 10 coins by market capitalization, just two are up as of right now.
Lido Staked Ether (STETH) and Ethereum (ETH) are both up 1.1% to $3,848.
Toncoin (TON), on the other side, has decreased the most. Now trading at $7.3, it is down 3%.
The majority of other red coins have dropped by about 1%.
BTC, or bitcoin, dropped the least. It is trading at $70,954, down 0.2% from its previous price.
Investors in the US can now access ETFs that follow twice as much Ethereum's daily activity. On June 4, Volatility Shares introduced ETHU, a 2x Ether ETF.
In related news, financial firm VanEck projected that by 2030, the price of ETH would reach $22,000. The revolutionary power of Ethereum and the anticipated income it would bring in for token holders are among the contributing causes.
After the approval of the ETF, CME Ether Option Volumes Reach All-Time Highs
Today's cryptocurrency news
This change is reflected in open interest for ETH instruments, which surged to a new all-time high on derivatives exchanges in the wake of the announcement. The increase to $14.0 billion was 50.3%.
According to the data, the CME's derivatives trading volume decreased for the second time in a row in May, falling 7.42% to $115 billion.
While ETH futures had a 37.5% increase in trading volume to $20.5 billion, BTC futures saw a 140% decline in monthly trading volume. Since November 2021, the latter represents its biggest monthly volume.
At $931 million, the amount of ETH options traded on CME surged 115%, setting a new record for the exchange.
According to the report, the exchange's market share in the derivatives markets increased by 0.4% to 3.11%, the highest level since 2021.
The study's conclusion stated that "the increase in ETH instrument trading activity highlights the heightened institutional interest in the asset following the SEC's abrupt pivot on spot Ethereum ETF applications in the U.S."
Users can follow top performers and replicate their strategies with Nansen.
Major onchain insights supplier for cryptocurrency investors, Nansen, has improved its fund classification system and introduced a new tracking tool for its users.
In order to provide clients with “valuable and actionable insights into the way the top performers allocate funds and make money,” the company has introduced a tool that can monitor the profitability of major investors, according to the press release shared with Cryptonews.
With the PnL tool, users may keep an eye on, follow, and imitate the actions of the most prosperousinvestors on decentralized exchanges such as Ethereum, Avalanche, Base, and Arbitrum, spanning nine distinct chains.
While ETH futures had a 37.5% increase in trading volume to $20.5 billion, BTC futures saw a 140% decline in monthly trading volume. Since November 2021, the latter represents its biggest monthly volume.
At $931 million, the amount of ETH options traded on CME surged 115%, setting a new record for the exchange.
According to the report, the exchange's market share in the derivatives markets increased by 0.4% to 3.11%, the highest level since 2021.
The study's conclusion stated that "the increase in ETH instrument trading activity highlights the heightened institutional interest in the asset following the SEC's abrupt pivot on spot Ethereum ETF applications in the U.S."
Users can follow top performers and replicate their strategies with Nansen.
Major onchain insights supplier for cryptocurrency investors, Nansen, has improved its fund classification system and introduced a new tracking tool for its users.
In order to provide clients with “valuable and actionable insights into the way the top performers allocate funds and make money,” the company has introduced a tool that can monitor the profitability of major investors, according to the press release shared with Cryptonews.
With the PnL tool, users may keep an eye on, follow, and imitate the actions of the most prosperousinvestors on decentralized exchanges such as Ethereum, Avalanche, Base, and Arbitrum, spanning nine distinct chains.
This gives them information about the trades made by whales, notable players in the market, and individual users.
It provides comprehensive statistics and data, including average ROI, win rates, best and worst transactions, and cost basis comparisons amongst the nine blockchains.
It also offers information on market trends and token performance.
The release described the ability for users to create real-time alerts to replicate the investments and positions of investors as "one of the most compelling aspects" of Nansen's Profiler PnL.
They can view their active trades and examine the possible results of selling or closing such positions thanks to this.
Users have the option to investigate top-performing ETFs like Kronos Research0x82e is the address.
Additionally, Nansen updated its fund classification algorithm to take investor and trader performance into account.
It stated that the most reliable and successful organizations are now known as Smart Funds. Some are identified as Funds.
According to the statement, "this enables clients to predict market movements, identify high-potential investment opportunities, and be the first to know when a Smart Money Fund, such as DWF Labs, is purchasing, disposing of, or acquiring a token."
Additionally, users are able to examine the holdings of these investors.
Welcome to the Tezos Ecosystem, World of Women
Today's other crypto news includes the announcement by NFT community World of Women (WoW) of their intention to join the Tezos ecosystem.
Etherlink, an EVM-compatible non-custodial Layer 2 blockchain driven by Tezos Smart Rollups technology, will serve as the foundation for WoW.The release states that "this strategic development sets in motion plans for a shared vision of creating opportunities for women in the next era of the web and accelerating gender parity across web3."
According to the statement, WoW intends to do this through bringing together and assisting female missionaries, builders, and leaders.
The team aims to "propel opportunities for women seeking to shape the digital frontier" by utilizing infrastructure afforded by blockchain technology.
WoW enters the Tezos network
WoW has fought for the depiction of women in the future generation of the web from the release of our first collection about three years ago. Yam's goal of creating an inclusive future has served as our inspiration for all we do.