Author: Monicah W

Ethereum Price Reacts As Vitalik Buterin Co-Unveils Ethereum Foundation’s Vision

Monicah W

ETH Price: Vitalik Buterin Take on Ethereum Foundation Vision

The price of Ethereum, is back in the spotlight after new updates from the Ethereum Foundation. Vitalik Buterin and other key leaders of the foundation have shared a fresh vision to strengthen the network’s future. The announcement comes as the Ethereum price shows signs of bullish consolidation.

The Ethereum Foundation Vision: Key Takeaways

The Ethereum Foundation announced significant leadership changes on April 28, 2025. As part of the many transitions, Aya Miyaguchi, who had led the organization as Executive Director, has stepped into the role of President. Notably, Vitalik Buterin spoke on EF leadership change and what to expect earlier in the year.

Hsiao-Wei Wang and Tomasz K. Stańczak have been named Co-Executive Directors. The move follows community pressure for more transparency and more decisive technical leadership.

According to the update, the Foundation plans to focus even more on scaling Ethereum while protecting its core values under this new structure. 

Wang and Stańczak will focus on areas like improving Ethereum’s mainnet. In addition, they will work on boosting Layer 2 performance and creating an environment for developers to build and grow. The leadership says the goal is to keep Ethereum resilient while helping the wider community lead future developments.

It is essential to add that the Foundation clarified that decentralization remains a priority. They intend to guide Ethereum price growth without taking complete control, describing their role as stewards rather than rulers.

Implications For Ethereum Price

The Ethereum vision shared by the protocol’s core leaders has not impressed the community, as seen in the price outlook. CoinMarketCap data shows that ETH’s price has been fluctuating. It is currently trading at $1,767.59, down 1.82% daily. 

However, historical data shows that May tends to be a strong month for the Ethereum price. This is because activity always increases, often driving the Ethereum price to see a potential 30% rally. Analysts are watching closely to see if the pattern repeats.

Whale investors have also made significant moves recently. According to a CoinGape report, traders holding between 1,000 and 10,000 ETH added around 10 million tokens to their holdings over the past 24 hours.

It is worth noting that a new proposal, EIP 9698, could further support Ethereum’s growth by increasing the gas limit. This will allow the network to record up to 2,000 transactions per second. If this improvement moves forward, it could give Ethereum an edge over rival blockchains.

Ethereum Ecosystem Updates in View

Beyond price moves, the Ethereum ecosystem is expected to benefit from the Foundation’s new approach. Plans to improve developer tools, Layer 2 connections, and application support are underway.

The leadership aims to make Ethereum easier for developers, improve its performance, and make it more appealing to users globally. If these goals are achieved, Ethereum could become a more dynamic and resilient platform in the years ahead.

Notably, the conversations around visions for the protocol come when the ecosystem is waiting for the next major upgrade after the Dencun update. After months of development, the Ethereum Pectra upgrade is set to go live on the mainnet in May. The upgrade will bring more scaling developments to the protocol moving forward.

The post Ethereum Price Reacts As Vitalik Buterin Co-Unveils Ethereum Foundation’s Vision appeared first on CoinGape.

FOMC Meeting: Will The FED Cut Interest Rates On May 7th?

Monicah W

FOMC Meeting: Will The FED Cut Interest Rates On May 7th?

The crypto community has its eyes on the next FOMC meeting holding in May, with discussions on whether Jerome Powell and the Fed will cut interest rates. However, traders are betting against this happening and instead, expect the US Central Bank to hold rates steady despite calls from US President Donald Trump.

Will The Fed Cut Rates Following The May FOMC Meeting?

CME FedWatch data shows there is only a 9% probability of the Fed cutting interest rates to between 400 and 425 basis points (bps) following the FOMC meeting, which will take place between May 6 and 7. Meanwhile, there is a 91% chance that the Fed will keep rates steady between 425 and 450 bps.

CME Fed Rate Cut

Polymarket traders are also betting on the Fed keeping interest rates steady. Data from the prediction platform shows that there is a 90% chance that the interest rates will remain unchanged following the May meeting. There is a 9% and 1.2% chance that the FOMC will cut rates by 25 basis points and 50 basis points, respectively.

FOMC Meeting

It is worth mentioning that Bank of America earlier this month predicted that there would be four Fed rate cuts this year. They expect the first rate cut to come in May, with the others coming in July, September, and December.

However, it is understandable why traders are betting against a rate cut happening at the next FOMC meeting. In a recent speech, Fed Chair Jerome Powell suggested that they have no intention to cut rates until they determine the extent to which Trump’s tariffs could impact the economy.

In his speech, Powell also suggested that the tariffs will likely lead to higher inflation, which is why they are cautious about rushing to ease monetary policy.

Meanwhile, US President Donald Trump has insisted that this is the right time for Powell and the Fed to cut interest rates. Trump warned of a slowdown in the US economy if Powell and his committee refuse to cut rates.

Why The Fed Is Unlikely To Cut Rates

In an X post, market expert Kevin Green stated that prices are up, new orders are down, and general activity is cratering, which is why the Fed is unlikely to cut interest rates at the May FOMC meeting.

He remarked that the US Central Bank isn’t cutting rates without a significant crack in the labor market. The expert also suggested that the Fed is unlikely to cut rates at the June FOMC meeting, stating that time is running out for the datapoint to justify a June cut.

Market participants will have their eyes on the US GDP and PCE inflation reports, which will be released on April 30. These data could impact the odds of the Fed’s decision at the May meeting.

While a rate cut looks unlikely at the moment, a potential cut would undoubtedly be bullish for the Bitcoin price and the broader crypto market. The easing of monetary policy leads to more injection of capital into these risk assets.

The post FOMC Meeting: Will The FED Cut Interest Rates On May 7th? appeared first on CoinGape.

Chainlink Price Analysis: $10 or $19 Next for LINK?

Monicah W

Chainlink Golden Cross Alert! LINK Price Attempts a Breakout Eyeing to Smash a New ATH

The post Chainlink Price Analysis: $10 or $19 Next for LINK? appeared first on Coinpedia Fintech News

  • Chainlink price failed to breach a crucial resistance level above $15 in the recent mild crypto recovery.
  • Chainlink adoption rate has gradually grown in the past months, possibly bolstering possible bullish sentiment.

The wider altcoin market, including Chainlink (LINK), experienced low bullish sentiment on Monday, as Bitcoin (BTC) price got rejected again above $95k. More than 113k crypto traders were liquidated over $267 million, mostly involving long traders.

As a result, the heating up crypto leveraged market slightly cooled down, amid anticipated bullish sentiment. The total crypto Open Interest (OI) had dropped around 1 percent in the past 24 hours to hover about $119 billion on Monday, during the mid-North American session.

What Next for Chainlink Price

Since October 2023, Chainlink price has signaled bullish sentiment, after consistently closing above the resistance range between $8.3 and $9.5 and subsequently converting it to a robust support level.

However, the large-cap altcoin, with a fully diluted valuation of about $14.7 billion and a 24-hour average trading volume of about $420 million, recently revisited the support level of around $10. With LINK price having formed lower lows and lower highs YTD, fears of further capitulation are palpable.

From a technical analysis standpoint, LINK price has already breached the daily falling logarithmic trend, signaling the bulls have regained control. Furthermore, the daily MACD line crossed above the zero line in the past week, for the first time since February 2025. Additionally, the daily Relative Strength Index (RSI) pumped above the 50 percent level in the past few days, for the first time since February.

According to crypto analyst Ali Martinez, LINK price is well primed for a momentum shift, with a potential pump above $18 soon.

Growing Ecosystem Favors Bullish Sentiment 

The Chainlink network has grown into a robust ecosystem bolstered by rising adoption by institutional investors. In the past few weeks, the Chainlink network announced 18 integrations across its services. Some of the notable recent Chainlink network interactions include with ApeChain, Avalanche, Base, BNB Chain, Celo, Ethereum, Gnosis Chain, Hemi, Lisk, MegaETH, Metal L2, Mint, Monad, Optimism, Polygon, Ronin, Soneium, Superseed, and Zora.

On Monday, Chainlink network welcomed Kamino Finance, a top-tier lending DeFi platform on the Solana (SOL) ecosystem with over $2 billion in total value locked (TVL). 

Consequently, the organic demand for LINK will continue to rise exponentially, and eventually trigger parabolic growth in the coming months.

The post Chainlink Price Analysis: $10 or $19 Next for LINK? appeared first on Coinpedia Fintech News
Chainlink price failed to breach a crucial resistance level above $15 in the recent mild crypto recovery. Chainlink adoption rate has gradually grown in the past months, possibly bolstering possible bullish sentiment. The wider altcoin market, including Chainlink (LINK), experienced low bullish sentiment on Monday, as Bitcoin (BTC) price got rejected again above $95k. More …

XRP Price Prediction 2025: XRP Price Testing Key Range, Breakout Could Reach New ATH at $10

Monicah W

The post XRP Price Prediction 2025: XRP Price Testing Key Range, Breakout Could Reach New ATH at $10 appeared first on Coinpedia Fintech News

XRP price is referred to as a sleeping giant, as the crypto has demonstrated some monstrous moves in the last 12 months. Over the past few weeks, the XRP price has exhibited volatility, reflecting broader uncertainties within the crypto space. Currently, the price is approaching key resistance levels between $2.45 and $2.71, and a breakout from the range is expected to trigger a fine upswing. 

Two potential reasons why the XRP price is expected to demonstrate gigantic moves are legal developments with the SEC lawsuit, institutional adoption, and the regulatory environment. A favorable ruling in the SEC vs. Ripple lawsuit is expected to provide clarity and potentially boost investor confidence. Meanwhile, the first-ever approved spot XRP ETF by Franklin Templeton indicates the growing institutional interest. On the other hand, the Trump administration’s proposal to include XRP in the US crypto reserve could enhance its legitimacy and adoption. 

Now that the market sentiments have slightly turned greedy from being in fear, will the XRP price maintain a consolidated ascending trend to reach fresh highs?

The upswing that it held since the start of the day has helped the token to rise above a bearish pattern. The price has risen above the resistance of the descending triangle due to a massive influx of buying liquidity as the traders turn optimistic. However, Bollinger bands have squeezed, suggesting not only a drop in volatility but also a major breakout incoming. On the other hand, th MACD displays a rise in the buying volume while the levels are heading back into the positive range. 

The current trade setup and the technical point towards the price preparing for a massive movement shortly. If the XRP price breaks through the $2.45 to $2.71 resistance zone, it could pave the way for a rally towards $3 or above. Once the token settles above this range, a new ATH could be imminent for the XRP price rally. 

The post XRP Price Prediction 2025: XRP Price Testing Key Range, Breakout Could Reach New ATH at $10 appeared first on Coinpedia Fintech News
XRP price is referred to as a sleeping giant, as the crypto has demonstrated some monstrous moves in the last 12 months. Over the past few weeks, the XRP price has exhibited volatility, reflecting broader uncertainties within the crypto space. Currently, the price is approaching key resistance levels between $2.45 and $2.71, and a breakout …

Cardano Price Forecast: Here is What Historical Data Reveals

Monicah W

Cardano (ADA) Price Prediction for March 25

The post Cardano Price Forecast: Here is What Historical Data Reveals appeared first on Coinpedia Fintech News

  • Several technical indicators suggest the YTD correction for ADA price has already hit the bottom.
  • Cardano price has experienced a high correlation with BTC in the recent past, signaling potential bullish sentiment ahead.

Ahead of the much-anticipated altseason for the 2025 crypto bull market, Cardano (ADA) has emerged as a potential contender. Driven by institutional investors’ adoption and global liquidity expansion, ADA price action has mirrored that of major altcoins led by Dogecoin (DOGE).

The large-cap altcoin, with a fully diluted valuation of about $31.8 billion and a 24-hour average trading volume of about $913 million, gained around 14 percent in the last seven days to trade about $0.7092 on Monday, during the mid-North American trading session.

Top Reasons Why Cardano Price Gained

According to market data analysis from Intotheblock, Cardano has depicted a correlation of 0.87 out of 1 with Bitcoin in the past 30 days. With Bitcoin (BTC) price attempting to rally beyond a crucial resistance level above $95k, ADA’s price is well positioned to break out in tandem.

Since U.S. President Donald Trump announced on April 9 via Truth Social that it was an opportune time to buy, Cardano’s Futures Open Interest (OI) has surged from $603 million to around $802 million at the time of this writing.

Midterm Targets for ADA 

From a technical analysis standpoint, Cardano price is following a similar fractal pattern to DOGE in the 2017 cycle. Worth noting that the first explosive rally for altcoins in 2017 happened during the second quarter.

In the 3-day timeframe, ADA price has formed a symmetrical falling channel, which could be breached in the near future. According to crypto analyst Ali Martinez, ADA price is well positioned to rally towards 88 cents, if it consistently closes above the resistance level around 74 cents.

The post Cardano Price Forecast: Here is What Historical Data Reveals appeared first on Coinpedia Fintech News
Several technical indicators suggest the YTD correction for ADA price has already hit the bottom. Cardano price has experienced a high correlation with BTC in the recent past, signaling potential bullish sentiment ahead. Ahead of the much-anticipated altseason for the 2025 crypto bull market, Cardano (ADA) has emerged as a potential contender. Driven by institutional …

Breaking: Arizona Passes Strategic Bitcoin Reserve Bill in the House and Senate

Monicah W

The post Breaking: Arizona Passes Strategic Bitcoin Reserve Bill in the House and Senate appeared first on Coinpedia Fintech News

  • The push for the Arizona Governor, Katie Hobbs, to sign the SBR has already begun. 
  • Bitcoin price has signaled bullish sentiment, with the next target above $99k.

After months of lobbying and speculation, Arizona has become the first state in the United States to pass a strategic Bitcoin reserve (SBR) bill in both houses. On Monday, during the late North American session, the Arizona House passed the Bitcoin Reserve Bill SB 1025, with 31 yes against 25 nays. 

As a result, the state of Arizona will invest 10 percent of the public funds annually in Bitcoin to hedge against inflation and macroeconomic uncertainties. Meanwhile, the SB 1025 bill is now awaiting final approval from Arizona’s governor Katie Hobbs, a Democratic Party member.

The Final Push for Bitcoin SBR’s Implementation in Arizona

As Coinpedia previously reported, Governor Hobbs threatened to veto all bills until a disability funding bill was passed by both houses. Amid the controversy, Dennis Porter, CEO and Co-founder of Satoshi Action Fund, requested American voters to push their elected leaders to implement the strategic Bitcoin reserves Bills as soon as possible.

Market Impact

Following the announcement, a ripple effect is expected in other states debating the SBR bills. Furthermore, the Donald Trump administration has laid significant emphasis on the importance of Bitcoin and digital assets thriving in the United States.

Bitcoin price gained around 1 percent to trade at about $94.5k at the time of this writing. The rising demand for Bitcoin by whale investors will play a crucial role in its rally beyond the resistance range between $95k and $99k in the coming weeks.

The post Breaking: Arizona Passes Strategic Bitcoin Reserve Bill in the House and Senate appeared first on Coinpedia Fintech News
The push for the Arizona Governor, Katie Hobbs, to sign the SBR has already begun.  Bitcoin price has signaled bullish sentiment, with the next target above $99k. After months of lobbying and speculation, Arizona has become the first state in the United States to pass a strategic Bitcoin reserve (SBR) bill in both houses. On …

News

Tether’s $1 Billion USDT Mint Fuels Bull Run Optimism

Monicah W

Tether minted $1 billion in USDT on the Tron network today, bringing its total minted tokens since January to 12 billion. This reflects growing demand for crypto and could signal bullishness.

Previously, major stablecoin issuances have led to a bullish cycle. With fresh inflows, the market sentiment is trending towards Greed, and Tether may facilitate more bullishness.

Tether’s Major USDT Minting

Tether, the world’s largest stablecoin network, has been steadily minting USDT tokens for the past few months. It minted 19 billion in a spree between November and December last year and added another billion less than a week later.

Today, Tether’s new action on Tron could have a powerful impact on the market.

Tether Minted 1 Billion Tokens
Tether Minted 1 Billion Tokens. Source: Tronscan

This new USDT minting could have broad market implications for a few reasons. Major net issuances often reflect growing demand from institutions and OTC desks that need large blocks of stablecoins for cross-border settlements or build-up before buying digital assets.

For example, when it issued 1 billion USDT a little over a year ago, this caused Bitcoin’s price to spike.

In isolation, this single issuance could push the needle in a bullish direction. However, since Lookonchain data shows a pattern of major mintings, Tether could spur a lot of optimism.

Despite recently hitting a three-year low, the Crypto Fear and Greed Index has been trending upward. It’s currently in Neutral but briefly exhibited Greed yesterday.

Crypto Fear and Greed Index
Crypto Fear and Greed Index. Source: Alternative

In other words, the market is primed to accept a bullish signal, and Tether’s major minting may provide it.

Still, not every mint equates to immediate market deployment. True bullish pressure arrives only when those new USDT hit exchange wallets. Luckily, that seems like a very achievable goal.

Tether has a long history of using Tron’s blockchain for USDT mintings, and the two firms enjoy active cooperation today. Hopefully, this will help ensure these new tokens quickly reach exchanges and the broader market.

If so, Tether could aid a preexisting trend of fresh inflows to the crypto sector.

The post Tether’s $1 Billion USDT Mint Fuels Bull Run Optimism appeared first on BeInCrypto.

News

Top 3 Bittensor Ecosystem Tokens to Watch For The First Week Of May

Monicah W

Three Bittensor subnet tokens — Chutes, Proprietary Trading Network, and Targon — are among the top projects to watch this week.

Chutes remains the largest subnet token by market cap despite recent price pressure, while Proprietary Trading Network is gaining attention through the DeFAI narrative. Targon, meanwhile, is trading at deeply oversold levels and could be setting up for a potential rebound. Here’s a closer look at each of these Bittensor-based tokens heading into the first week of May.

Chutes

Chutes is a serverless AI compute platform built by Rayon Labs. It is designed to deploy, run, and scale any artificial intelligence model within seconds.

Users can interact directly with the Chutes platform or integrate it easily through a simple API, offering fast and flexible AI infrastructure without the complexity of traditional server management.

Chutes is currently the largest Bittensor Subnet token by market cap, but it has faced pressure recently, falling nearly 18% over the past seven days.

Chutes Token Performance.
Chutes Token Performance. Source: Tao Stats.

After rallying 67% between April 7 and April 12, the token has since dropped about 30% from its peak. Its Relative Strength Index (RSI) is now at 23.78, signaling deeply oversold conditions.

This setup could mean that Chutes is nearing a potential reversal zone.

If the project manages to recover its earlier momentum, being the biggest Subnet on Bittensor could amplify its gains through network effects, potentially triggering a strong uptrend that could drive the price back toward the $0.40 range.

Proprietary Trading Network

Proprietary Trading Network, or Taoshi, is a decentralized finance platform operating within the Bittensor ecosystem. It builds dynamic subnetworks where decentralized AI and machine learning models analyze data across multiple asset classes.

Its mission is democratizing access to sophisticated trading strategies, combining AI, blockchain, and finance to deliver advanced data that helps users make more informed financial decisions.

Proprietary Trading Network’s market cap is close to $50 million, with its trading volume jumping nearly 160% in the last 24 hours to reach $3 million.

Proprietary Trading Network Token Performance.
Proprietary Trading Network Token Performance. Source: Tao Stats.

With DeFAI emerging as one of the hottest narratives for 2025, Proprietary Trading Network is well-positioned to leverage its exposure to trending sectors like AI, Bittensor subnets, and trading.

If the current momentum strengthens, the token could soon rise to retest the $0.20 and $0.25 resistance levels, supported by growing attention across these sectors.

Targon

Manifold Labs developed Targon, which is a Bittensor Subnet token that is building an AI cloud platform that enables users to run inferences on AI models at high speed and low cost.

Through its Playground and API, Targon offers many models optimized for completion and chat tasks.

The platform emphasizes fast performance, high scalability, and cost-efficiency, allowing developers and companies to deploy and scale AI models while minimizing infrastructure complexity easily.

Targon Token Performance.
Targon Token Performance. Source: Tao Stats.

Targon’s market cap currently sits around $47 million, with daily trading volume reaching $1.33 million.

Targon’s price has fallen more than 9% over the past 24 hours. Its RSI is at 19.23, signaling deeply oversold conditions that often precede a rebound.

Targon could gain up to 48% if new momentum builds and retests price levels from 15 days ago.

The post Top 3 Bittensor Ecosystem Tokens to Watch For The First Week Of May appeared first on BeInCrypto.

News

Onyxcoin (XCN) Bullish Momentum Could Be Fading Despite 10% Weekly Gains

Monicah W

Onyxcoin (XCN) has risen more than 3% in the last 24 hours and nearly 12% over the past week, bringing its market cap back to around $640 million.

After a volatile week, XCN’s technical indicators show important shifts that could shape its next move. The token’s RSI, ADX, and EMA structures all suggest a mix of stabilizing momentum and caution signs. Here’s a closer look at the current setup for Onyxcoin heading into the first week of May.

Onyxcoin RSI Bounces Back, Setting Neutral Stage for Next Move

Onyxcoin’s Relative Strength Index (RSI) is currently at 48.89, after reaching as high as 75 just five days ago. The RSI had fallen sharply to 34.88 yesterday but has since recovered, suggesting that selling pressure may be easing.

This recent bounce shows momentum is trying to stabilize, although the token remains well below the recent overbought zone it touched earlier in the week.

The shift also signals that Onyxcoin is no longer close to oversold territory, but has yet to show a clear direction for its next major move.

XCN RSI.
XCN RSI. Source: TradingView.

The RSI is a widely used technical indicator that measures the speed and magnitude of an asset’s recent price movements to assess whether it is overbought or oversold.

Typically, an RSI above 70 indicates overbought conditions and potential for a pullback, while an RSI below 30 signals oversold conditions and potential for a rebound.

With XCN’s RSI now sitting at 48.89, the token is in a neutral zone, providing room for further upside if positive momentum continues. If buying pressure increases from here, XCN could build a stronger recovery without immediately facing technical resistance from overbought conditions.

XCN Uptrend Remains, But Trend Strength Weakens

Onyxcoin Average Directional Index (ADX) is currently at 23.64, a significant drop from the 50 level it reached just two days ago.

This sharp decrease suggests that the strength of the recent trend has weakened, even though Onyxcoin remains technically in an uptrend.

The decline in ADX reflects a cooling in momentum after a strong directional move earlier in the week. While the uptrend is still intact, the lower ADX reading signals that the trend’s strength is no longer as dominant as it was a few days ago.

XCN ADX.
XCN ADX. Source: TradingView.

The ADX is a technical indicator that measures a trend’s strength, but not the direction. Values above 25 typically suggest a strong trend, while values below 20 point to a weak or directionless market.

With XCN’s ADX now sitting at 23.64, the trend is still moderately strong but close to losing strength if the reading continues to fall.

This means that while Onyxcoin’s uptrend remains, it may require renewed buying pressure soon to avoid slipping into a period of consolidation or sideways movement.

Onyxcoin Holds Support, But EMA Gap Signals Caution

XCN gained around 112% in April, making it one of the best-performing altcoins for the month. Its Exponential Moving Average (EMA) lines remain bullish, with the short-term EMAs still positioned above the long-term ones.

However, the gap between the short-term and long-term EMAs has narrowed compared to previous days, indicating that the bullish momentum is losing some strength.

While the general trend remains positive, the shrinking distance between the EMAs suggests that the market is approaching a critical point where a clearer direction could soon emerge.

XCN Price Analysis.
XCN Price Analysis. Source: TradingView.

In the last few days, Onyxcoin successfully tested and held the support zone around $0.018, but this level remains fragile.

If XCN tests this support again and fails to hold it, the price could drop toward the next support near $0.016. On the upside, if buying momentum returns, XCN could rally to test the $0.024 resistance.

A breakout above $0.024 could open the door for a continuation toward $0.027, offering a strong bullish setup if momentum strengthens.

The post Onyxcoin (XCN) Bullish Momentum Could Be Fading Despite 10% Weekly Gains appeared first on BeInCrypto.

News

ProShares XRP ETF Rumors Are Driving Market Confusion – What We Know So Far

Monicah W

Despite rumors that the SEC approved a spot XRP ETF, this is inaccurate. The only new development concerns ProShares’ Leveraged and Short XRP Futures ETFs, which will begin trading on April 30.

It’s unclear how much these false claims impacted XRP’s price today, but they caused a lot of commotion. Fake crypto news has been taking off lately, and this could negatively impact investor confidence.

A US Spot XRP ETF Is Not Here Yet

The crypto industry is full of enthusiasm for an XRP ETF, especially since one began trading in Brazil last week.

However, there’s no shortage of overeager people who can spark and circulate optimistic rumors. ProShares’ new Futures ETF did indeed win approval, but this has no bearing on a Spot ETF:

Bitcoin, the first crypto-centric ETF category, achieved a futures ETF before a spot one. In some ways, the SEC’s approval of an XRP Futures ETF is a positive sign.

The Commission has an impending deadline to reject or confirm these proposals, and experts believe that approval is highly likely. Unfortunately, that does not change the reality today.

XRP’s price has been zig-zagging in the last 24 hours, with notable pullbacks. It isn’t fair to claim that ETF hype is the source of all XRP moves; several circumstances may be contributing to the situation.

Still, rumors have recently had a demonstrable impact on crypto markets, even when they’re completely false. These garbled claims may have affected XRP.

xrp price chart
XRP Daily Price Chart. Source: TradingView

Confusion doesn’t help build a stable industry. Even if false ETF rumors temporarily boost XRP’s performance, that’s not a sign of long-term ecosystem health. Misinformation can significantly damage public trust, especially among retail investors.

For example, Eleanor Terrett commented on these rumors, claiming she’s “getting really sick of all the rude keyboard warriors in this community.”

Apparently, she received online hostility for trying to clarify the news decision despite being both correct and a respected source of pro-crypto journalistic coverage.

Spot ETF vs Futures ETF – What are the Differences?

Spot ETFs directly hold XRP tokens, providing investors with exposure to the actual cryptocurrency.​ These ETFs aim to mirror the real-time market price of XRP. So, there’s a straightforward correlation between the fund’s value and the token’s spot price.​

As of now, spot XRP ETFs are not approved in the US. Applications from firms like Grayscale and Bitwise are under SEC review.

Meanwhile, leveraged futures ETFs do not hold XRP directly. Instead, they invest in futures contracts that speculate on the future price of XRP.

Due to daily resetting of leverage, these ETFs can experience significant volatility and may not be suitable for long-term holding.

Even if these XRP ETF rumors came from a genuine misunderstanding, they’re still dangerous. In the future, the community must be careful to vet its sources and act in good faith to maintain public confidence.

The post ProShares XRP ETF Rumors Are Driving Market Confusion – What We Know So Far appeared first on BeInCrypto.