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A new spot Bitcoin exchange-traded fund (ETF) tied to Truth Social, the media platform owned by Donald Trump, has been filed for listing on the New York Stock Exchange. NYSE Arca submitted a Form 19b-4 to the U.S. Securities and Exchange Commission (SEC) on June 4, for the ETF’s approval. The fund aims to track
The post Just In: Donald Trump Company Truth Social Files To Launch Spot Bitcoin ETF appeared first on CoinGape.
The Ethereum price recovery falls short as the sideways move dominates the altcoin. Despite the bullish attempts and whales’ involvement, the bearish trend remains active. Besides, the rest of the altcoins are in a similar state, struggling amid growing market uncertainty, but what’s fueling the ETH price’s downfall? Let’s discuss.
With the investors’ declining interest and other factors working against Ethereum, its price has crashed by 1.5% today. However, this is a second dip in the last 24 hours, currently trading at $1,803 with $10.52 billion in trading volume, up by 12%, showcasing high volatility.
The ETH price declined from $1,840 to $1,785 before making a complete recovery, but crashed again a few hours later, showcasing dominating bearish trends. The Coinglass data reports that the traders are being wiped out amid massive liquidation, where $37.45 million positions have been liquidated.
This happened as the long overleveraged position was wiped out amid the pullback. Moreover, the open interest is declining, suggesting a forceful closing of positions as traders bet on the upside, and the downward move ruins the trade.
There’s strong uncertainty in the market as Vitalik Buterin highlights Layer-2 security concerns, but the long-term outlook is bullish.
Various crypto analysts’ Ethereum price predictions have put this altcoin on a make-or-break trajectory. As a result, the price is supposed to move higher or lower depending on the maintenance of critical support between $1,772 and $1,824.
However, the recent dip has caused the ETH price to fall to $1,803.72, failing to break out. As the token moves down the support, the possibility of a crash to $1,500 builds. However, the confirmation would happen if it moved down the $1,774 break line.
Ethereum at a Crossroads Crossroads: $1,500 Plunge or $2,100 Surge?
ETH price action has been wild lately.
After a brief rally above $1,800, April ended in the red.
This marks the *fourth* straight month of losses for ETH.
On-chain data suggests we’re at a…
— Traiders Technologies (@TonyTraider) May 5, 2025
However, crypto analyst Michael pointed out that Ethereum is outpacing Bitcoin in the ETH/BTC pair, signaling growing support. Moreover, other points at the breakout from the falling wedge pattern formation, before predicting recovery.
If ETH price ends up moving up amid the buyers’ activity, it could recover and move toward $2,000 or higher.
The post Why is Ethereum (ETH) Price Crashing Today? appeared first on CoinGape.
After an impressive earnings report in Q1 for Robinhood, Ark Invest has splurged $10M to acquire HOOD stock. Despite predicting a massive Bitcoin rally in the coming months, the investment firm is diversifying its holdings to include Robinhood, AMD, 10X Genomics, and altcoins.
Cathie Wood’s Ark Invest has increased its footprint in the markets over the last day with significant investment in a raft of companies. According to an X post by Ark Invest Daily, the investment firm has splurged nearly $10 million to purchase 210,714 shares of Robinhood Markets Inc. (HOOD).
The heavy stock acquisition follows the release of Robinhood’s earnings report for Q1 2025. Robinhood’s earnings beat Wall Street expectations with total revenue within inches of $1 billion in the first three months of 2025.
Ark Invest scooped up 210,714 HOOD at a premium as shares traded at $46.62, a 5% drop over the last day. The sizable investment was made by the Ark Innovation ETF (ARKK), a fund investing in disruptive technologies.
Apart from buying Robinhood shares, the ARKK fund acquired 186,812 shares of Guardant Health for $9.1 million. The fund made sizable purchases in Advanced Micro Devices and 10X Genomics over the last day.
However, Ark Invest has sold off significant holdings in Roblox Group, Veracyte, and Palantir in the last 24 hours. The Ark Autonomous Technology & Robotics ETF purchased 184,742 shares of Aurora Innovation Inc. while selling 37,591 in Kratos Defense and Security Solutions Inc.
Recent market activities by Ark Invest suggest that the company is diversifying its portfolio. A month ago, the company halted its Bitcoin purchase in favour of other altcoins in a frenzied diversification push.
Ark Invest has gained its first exposure to Solana (SOL) as it continues its diversification strategy. The recent plays in the stock market are accentuating a changing stance for the investment giant.
The company may be diversifying and reducing its BTC exposure in anticipation of a coming US recession, as predicted by Cathie Wood. Another reason for halting BTC purchases may be part of a rebalancing of its portfolio or nimble market maneuvering to seize fresh opportunities.
Despite the change in stance, Ark Invest says Bitcoin can break $1 million by the end of the decade. Conservative estimates see the firm predict a base case of $710,000 per BTC and a bear case of $300,000 by 2030. At the moment, Bitcoin price is trading at the $96,000 mark in a strong show of bullishness over the last week.
The post Cathie Wood’s Ark Invest Buys $10M In HOOD Stock After Robinhood’s Robust Earnings appeared first on CoinGape.
Airdrop tokens are under the spotlight as Kadena (KDA), Huma Finance (HUMA), and Sophon (SOPH) face volatile market reactions following their recent distributions.
Kadena kicked off a Galxe campaign with a $55,000 prize pool but remains down 14.4% in the last week. HUMA has dropped over 51% in just three days after its Season 1 airdrop, despite strong investor backing. Meanwhile, SOPH plunged 33% within 24 hours of launch due to a massive token unlock and continues to test key support levels amid high leverage and limited utility.
Kadena leads the list of top crypto airdrops for the final week of May, raising over $35 million with backing from major investors like Multicoin Capital, CoinFund, and SV Angel.
The project, a Layer 1 Proof-of-Work blockchain focused on scalability, launched a confirmed airdrop campaign through Galxe with a 100,000 KDA prize pool—valued at around $55,000.
Users can participate by completing tasks such as connecting wallets, joining social channels, or holding KDA tokens. The campaign runs until August 24, offering a strong incentive for community engagement and ecosystem growth.
Despite the airdrop buzz, Kadena’s price has struggled, down 14.4% over the past seven days and currently trading below $0.60.
If the current downtrend continues, KDA could fall toward support at $0.507.
However, if sentiment shifts and buying pressure returns, the token may retest resistance at $0.54, with further upside potential toward $0.621 and $0.677.
Huma Finance recently unveiled its full tokenomics and Season 1 airdrop details, allocating 5% of the total 10 billion HUMA token supply to early users.
Backed by major investors like Circle and HashKey Capital, Huma is positioning itself as a first mover in the emerging PayFi sector. It aims to merge instant payments with DeFi and real-world assets.
Despite raising over $46 million and planning a second airdrop of 2.1% post-TGE, the project faced criticism for its relatively low initial airdrop allocation.
The team insists this is just the beginning, but market engagement has been modest, signaling shifting user preferences toward newer airdrop models.
Since the airdrop, HUMA has plunged more than 51% in just three days, reflecting a lack of buying support following the airdrop. If the current downtrend continues, the price could fall below $0.0503, testing new lows.
However, if sentiment shifts and the token finds support, it could rebound to challenge resistance at $0.055. A stronger rally could even push HUMA up toward $0.0596, though sustained momentum would be needed to reverse the early bearish pressure.
Sophon’s SOPH token dropped over 33% within 24 hours of its debut and Binance listing, primarily due to the sudden release of 900 million airdropped tokens.
Despite strong backing—including over $70 million in funding and support from Binance Labs—the token’s limited immediate utility and the overwhelming supply shock triggered a sharp sell-off.
Adding to the volatility, Binance assigned SOPH a “seed tag” and enabled futures trading with up to 75x leverage, amplifying price swings.
SOPH is now hovering near a key support level at $0.056, which may be tested soon if pressure continues. Should the token regain bullish momentum, it could challenge resistance at $0.059.
A strong uptrend could push SOPH further to $0.061, $0.064, and possibly $0.067.
The post 3 Latest Airdrop Tokens to Watch for the First Week of June appeared first on BeInCrypto.
