Traders on Binance are taking advantage of the opportunity to buy Bitcoin when the price drops. Recent data shows that almost 70% of such traders buy BTC, demonstrating a very bullish attitude among elite traders on the platform.

As of August 1, 2024, 69.3% of accounts had Long positions and 30.7% had Short positions, according to Binance order allocation. This figure shows a Long/Short ratio of 2.26. The significant support for long positions implies that the best traders see Bitcoin's current decline as a temporary setback and anticipate a rebound.

VanEck predicts Layer-2 Ethereum tokens will reach a capitalization of $ 1,000 billion by 2030
Harry

Predictions are made by VanEck through analysis of transaction fees, developer and user experience, reliability assumptions, and ecosystem scale.

VanEck predicts Layer-2 Ethereum tokens will reach a capitalization of $ 1,000 billion by 2030

As is known, throughout its development process, Ethereum has repeatedly faced significant challenges in terms of scalability, high transaction fees and slow processing times during "peak hours".

Therefore, the emergence of Layer-2 technologies is becoming a promising solution that can overcome these problems while maintaining the inherent security of Ethereum.

According to a report from investment firm VanEck conducted by two senior analysts Patrick Bush and Matthew Sigel, Ethereum's Layer-2 segment has the potential to reach a capitalization of at least $ 1,000 billion by 2030.

Investment bank Oppenheimer raised its Coinbase stock price target to $ 276
Harry

The SEC's approval of the Bitcoin spot ETF in January spurred increased liquidity in the digital sector, causing Coinbase's stock price to surge.

Investment bank Oppenheimer raised its Coinbase stock price target to $ 276

Investment bank and financial company Oppenheimer headquartered in New York (USA) has raised the price target of Coinbase (COIN) shares to 276 USD, up from the previous target of $ 200, while maintaining maintain a "BUY" rating for this stock.

The new target price of 276 USD is about 10% higher than the closing price of 251.58 USD of Coinbase shares recorded after the end of the trading session on April 3, 2024.

During the trading session on April 4, 2024 (US time), COIN stock price reached the 257.9 USD mark, continuing to extend the increase of more than 263% since the beginning of November 2023.

Ethena allows Bitcoin to be used as collateral for stablecoin USDe

Ethena Labs aims to bring the total supply of USDe to 5 billion USD with the move to support the use of Bitcoin as collateral for this stablecoin.

Ethena allows Bitcoin to be used as collateral for stablecoin USDe
Decentralized stablecoin project Ethena (ENA) said it has begun accepting the world's largest cryptocurrency Bitcoin (BTC) as collateral for USDe, in addition to Ethereum (ETH) and liquid tokens. staking of ETH previously.
Excited to announce that Ethena has onboarded BTC as a backing asset to USDe
Ethena has repeatedly mentioned its intention to accept BTC as collateral, with the goal of attracting more inflows to increase the USDe supply from 2 billion USD at the time of writing to the target spend 5 billion USD in 2024, and beyond that is 10 billion USD.

The project's phase 2 shards reward program is also designed to incentivize DeFi users to use Bitcoin to issue additional USDe. Ethena's ENA governance token in early April was airdropped to users based on the shards reward of the period using ETH as collateral.

SEC seeks public opinion on proposed Ethereum spot ETF by Grayscale, Bitwise and Fidelity
Parallel
Although the SEC is following the correct review process, market optimism about the prospect of an Ethereum ETF being approved is gradually fading.

SEC seeks public opinion on proposed Ethereum spot ETF by Grayscale, Bitwise and Fidelity

According to a notice posted on April 3 (US time), the US Securities and Exchange Commission (SEC) will begin asking for public opinion on proposals to establish an Ethereum spot ETF from 3 units. are Grayscale, Bitwise and Fidelity.

All three proposals will receive feedback from the American public within 21 days.

There are currently up to 10 American companies intending to do the same with the world's second largest cryptocurrency, Ethereum (ETH). Notably, Grayscale and Fidelity are two parties that want to use ETH held in the fund to participate in staking.

Ethereum spot ETF proposals pending SEC approval (excluding Bitwise)

On Thursday (April 4), Ripple announced plans to deploy stablecoins on two blockchain networks, Ethereum and Ripple.

Ripple announced plans to issue new stablecoins

It is known that the above stablecoin will be released later this year with collateral assets being USD, short-term US Government bonds and other "cash equivalent" assets. Ripple said there will be monthly asset reconciliation and audited by a third party.