Kraken is making a significant push into Europe with its new MiFID II-compliant crypto derivatives platform, positioning itself as a strong competitor to OKX as the latter eyes European expansion. With this move, the exchange offers retail and institutional customers in the European Economic Area access to perpetual and fixed maturity crypto futures contracts. It’s noteworthy that the exchange’s European expansion is unfolding against a backdrop of speculation about a potential native token launch and IPO. “We’re excited to announce our launch of regulated crypto derivatives in Europe, providing our clients and partners with access to a full suite of liquid futures instruments – all within a recognized regulatory framework,” the exchange said via an official blog post. Kraken Launches Crypto Derivatives Platform in Europe According to a May 20 announcement, Kraken has launched the largest regulated crypto derivatives trading platform in Europe. Compliant with the Markets in Financial Instruments… Read More at Coingape.com
The cryptocurrency market has always been a place for bold moves and unprecedented success stories. In recent years, two names have captured the spotlight: Dogecoin, a coin that started as a joke but rose to fame thanks to its passionate community, and Skyren DAO, a decentralized airdrop collection platform that has quickly gained momentum. As the next Bitcoin bull market approaches, both projects stand out for different reasons, yet their rise echoes similar themes of community support, innovation, and market impact.
The Meteoric Rise of Dogecoin
Dogecoin’s journey has been remarkable. Launched as a lighthearted take on cryptocurrency, it quickly gained a cult following with its Shiba Inu mascot and the viral “Doge” meme. However, Dogecoin’s success goes beyond its fun image; it has established itself as a staple of the crypto world.
Dogecoin’s value surged in 2021, driven by support from high-profile figures like Elon Musk, who called it the “people’s crypto.” This endorsement, combined with the strong Dogecoin community, propelled it to new heights. Despite its meme origins, Dogecoin has found real-world applications in tipping creators and enabling microtransactions due to its low fees and fast transaction times.
Skyren DAO: A New Approach to Decentralized Finance
Skyren DAO offers a different vision for the crypto market. As the world’s first airdrop collection DAO, Skyren focuses on providing its token holders with passive income opportunities by collecting and distributing airdrops from multiple blockchain projects. The project emphasizes transparency, decentralization, and financial rewards.
What makes Skyren DAO stand out?
Airdrop Collection: Holders of the SKYRN token automatically qualify for airdrops from partner projects.
High APY Returns: Skyren anticipates an average return of 216% APY with all earning events included.
DAO Governance: Token holders have a voice in key decisions, ensuring transparency and a community-driven approach.
Automated Income: The platform leverages smart contracts to automate income distribution.
Skyren DAO’s presale Phase 5 is currently live, with the price at $0.048 per SKYRN token, set to increase to $0.052 in the next phase. With a total of 5,000,000 tokens available and a projected launch price of $0.16, early investors are positioning themselves for significant potential returns.
Audits from Cyberscope and Solidproof demonstrate the platform’s commitment to security and transparency.
What Crypto Enthusiasts Are Saying About Skyren DAO
Skyren DAO has generated positive attention in the crypto community, with influencers and analysts praising its innovative approach. For example, Crypto Chino has highlighted the project’s focus on airdrop rewards and DAO governance, showcasing it as a unique and promising opportunity in the rapidly evolving DeFi space.
In addition, Skyren’s dedication to security and transparency is backed by multiple audits, ensuring investor confidence and trust.
Dogecoin and Skyren DAO: A Tale of Two Crypto Success Stories
Dogecoin and Skyren DAO may have different origins and approaches, but both projects showcase the power of community and innovation in the crypto market. While Dogecoin has captured hearts with its playful image and accessibility, Skyren DAO has carved a niche for itself by focusing on airdrop rewards and decentralized governance.
As the next Bitcoin bull market approaches, these two projects offer unique opportunities for investors seeking growth, rewards, and financial empowerment.
The post Dogecoin Popularity Echoes Skyren DAO’s Rise in Bitcoin Bull Market appeared first on Coinpedia Fintech News
The cryptocurrency market has always been a place for bold moves and unprecedented success stories. In recent years, two names have captured the spotlight: Dogecoin, a coin that started as a joke but rose to fame thanks to its passionate community, and Skyren DAO, a decentralized airdrop collection platform that has quickly gained momentum. As …
CAKE, the native token of decentralized exchange (DEX) PancakeSwap, is today’s top gainer, defying broader market trends.
The token has recorded a modest 3% gain over the past 24 hours, outperforming leading assets like Bitcoin (BTC) and Ethereum (ETH), which are both down by roughly 1% each during the same period. Technical indicators suggest that the rally could continue as it is backed by significant demand from market participants.
CAKE Climbs as Trading Volume Soars 88%
Amid the lull of the broader market over the past week, CAKE has managed to record gains. Currently trading at $2.48, the token has climbed by 9% since May 31.
This bullish trend continues today, evidenced by the trading volume surge accompanying CAKE’s price growth. The token’s trading volume is up 88% over the past day, pointing to heightened investor interest and growing demand for the DeFi asset.
When an asset’s trading volume rises alongside its price, it signals strong buying interest and confirms the strength of the upward price move. This combination suggests growing investor confidence in CAKE and hints that the upward trend may continue in the near term.
Moreover, readings from the altcoin’s BBTrend indicator support this bullish outlook. Observed on a one-day chart, the indicator is currently at 12.76, posting only green histogram bars since May 9.
The BBTrend measures the strength and direction of a trend based on the expansion and contraction of Bollinger Bands. When it returns red bars (negative values), the asset’s price consistently closes near the lower Bollinger Band, reflecting sustained selling pressure and hinting at the potential for further downside.
Conversely, as with CAKE, when BBTrend values are positive, it typically signals a strong uptrend. At 12.76, the momentum indicator confirms increasing bullish pressure among CAKE holders, suggesting that the current rally may have further room to run.
Bullish Indicators Emerge for CAKE, But Will $2.81 Hold?
CAKE’s rising Relative Strength Index (RSI) lends credence to this bullish outlook. As of this writing, the indicator is at 54.75 and in an upward trend.
The RSI indicator measures an asset’s overbought and oversold market conditions. It ranges between 0 and 100. Values above 70 suggest that the asset is overbought and due for a price decline, while values under 30 indicate that the asset is oversold and may witness a rebound.
CAKE’s current RSI setup shows a steady rise in token accumulation, a pattern that could drive further price growth.
If current sentiment and volume levels persist, CAKE could extend its gains to $2.81 in the near term.
The crypto market has become more unpredictable as investors wait for the Federal Reserve’s decision on interest rates. Recently, the price of SOL went up and got close to $150, but it couldn’t break through and was pushed back down. This caused a drop in some key on-chain metrics, as investors started diverting their investment. Experts believe that if the Fed lowers interest rates, it could help the market recover and reduce the current selling pressure for SOL.
Solana’s Network Activity Plunges Hard
Solana has been going through a period of high price swings in the last several hours. After failing to stay above the $150 mark, a large wave of liquidations took place, according to data from Coinglass. In the past 24 hours, over $7 million in Solana positions were wiped out. Of that, about $1.61 million came from buyers who were betting on prices going up (long positions), while sellers closed around $5.42 million worth of positions.
One reason Solana’s price is struggling to rise is the decline in network activity. Data from The Block shows that the number of active addresses on Solana has fallen sharply in recent weeks: from a high of 4.12 million to a low of 3.31 million. The number of new addresses has also taken a hit, dropping from 4.11 million to 3.2 million. This overall decline in usage is making it harder for Solana to break through its current price resistance.
The market is now closely watching today’s U.S. Federal Reserve meeting, which could bring new volatility. While Donald Trump’s recent comments have sparked positive hope, the CME FedWatch Tool shows only a 2.3% chance of a rate cut happening today. Most experts expect the Fed to keep interest rates steady at 4.25% to 4.50%.
If the Fed cuts rates, Solana could jump above $150. If rates stay the same, SOL will likely keep moving sideways within its current trend.
What’s Next for SOL Price?
Solana is currently getting support around the 20-day EMA, showing that buyers are stepping in during price dips. However, bears are strongly defending a push above the resistance of $150-$160. As of writing, SOL price trades at $145.8, surging over 1.4% in the last 24 hours.
Buyers are likely to try pushing the price above the $150 resistance again. If they succeed, SOL could climb to $180. This will create a broad trading range within $110 and $215.
On the other hand, if sellers manage to push the price below the 20-day EMA, SOL might drop toward the $133 level. In that case, the price could stay stuck between $105 and $150 for some time.
The long/short chart for Solana shows a noticeable drop in the ratio, now sitting at 0.5122. This means about 66% of traders are betting that SOL’s price will continue to fall.
The post Solana Faces On-Chain Weakness After $150 Rejection: Is a Price Pullback Ahead? appeared first on Coinpedia Fintech News
The crypto market has become more unpredictable as investors wait for the Federal Reserve’s decision on interest rates. Recently, the price of SOL went up and got close to $150, but it couldn’t break through and was pushed back down. This caused a drop in some key on-chain metrics, as investors started diverting their investment. …
