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July 30, 2015, is the launch date of the popular blockchain network Ethereum. Its native token, ETH, is the second biggest cryptocurrency in the world, with $460.33B in market capitalization and global adoption. Notably, the token is anticipated to take over Bitcoin one day, while that’s still far, its 60% rally in July captivated investors.
The post Ethereum Turns 10 Today: Here’s How it Surged 60% in July appeared first on CoinGape.
India’s Ministry of Finance has confirmed that cryptocurrency tax rules will remain unchanged, dashing hopes for a more favorable crypto regulation. The government has also ruled out approving Bitcoin or crypto ETFs in the near future. India’s 30% Crypto Tax Rate Remains According to the latest reports, India’s Ministry of Finance maintains strict crypto regulations,
The post India’s Crypto Tax Rules Remain Unchanged, No Bitcoin ETF Approval Expected appeared first on CoinGape.
Solana price today continues its climb. It sits above the important resistance point at $150, and is in the fourth straight week of gains. It has jumped by 61% from its April low, and one analyst predicts that it is on the verge of a strong comeback as Ethereum struggles to hit the psychological point at $2,000.
Technical chart patterns points to a strong Solana price surge. In a recent X post, Ali Martinez noted that it had formed a “textbook perfect cup and handle pattern” on the weekly chart. This is a crucial continuation sign that leads to a strong surge, especially when it moves above the cup’s upper side.
The weekly chart below confirms this claim. It shows that the upper side of the cup was at $260, its highest point in November 2021. It was also the highest swing in November last year. However, it also formed a false breakout that pushed it to the year-to-date high of nearly $300. Solana price is in the process of forming the handle section of this pattern.
One way of measuring the price target of an asset in a C&H pattern is to measure its depth, and then the same distance from the cup’s upper side. In this case, the upper side is at $260, while the lower side is at $8.35 or 96%.
Now, extrapolating this target from $260 brings the SOL price forecast to $510. This means that the coin may surge by 240% from the current level. Such a move would bring the diluted market cap of Solana to $302 billion. This valuation is achievable in a strong bull run.
SOL price has key catalysts that could significantly enhance its long-term performance. The SEC may approve a spot SOL ETF this year, leading to substantial demand from Wall Street investors.
Further, the market cap of all stablecoins in the Solana ecosystem has jumped to $13 billion, a record high. That is a sign that more investors are interacting with its network. Solana may also benefit from the ongoing Solana meme coin surge, which has led to a higher volume in its DEX platforms.
The value of SOL is surging as Ethereum remains below $2,000. Worse, the weekly chart shows that the coin has formed a triple-top pattern at $4,080. It remains below the neckline of this pattern at $2,118, its lowest level in August last year.
The Solana price target of a triple top is established by measuring the distance from the upper high to the neckline. One then measures the same distance from the neckline. In Ethereum’s case, this distance is about 48%. Measuring that level from the neckline brings the price target to $1078.
A drop to that target would bring Ethereum’s market cap from the current $216 billion to $129 billion. Such a move would make Solana a bigger cryptocurrency than Ethereum by a big margin.
The caveat in all this is that the Solana and Ethereum prices forecast will take time to form since they are in the weekly chart.
The post Crypto Pundit Predicts $500 Solana Price Target While Ethereum Struggles to Hit $2,000 appeared first on CoinGape.
The co-founders of President Trump-backed World Liberty Financial (WLFI)—Zach Witkoff, Zak Folkman, and Chase Herro—met with Binance co-founder Changpeng Zhao (CZ) in Abu Dhabi.
Their conversation centered on developing strategic initiatives to standardize and expand the cryptocurrency industry worldwide.
WLFI highlighted the meeting in a post on X (formerly Twitter). The organization stressed that the move marked the start of a broader initiative to drive innovation in the industry. The meeting agenda centered on strategies to accelerate the global adoption of cryptocurrencies.
It also covered the creation of new industry standards. Finally, the participants discussed initiatives to push the crypto sector into its next phase of growth and development.
“The future belongs to the builders, not the bystanders. We’re just getting started,” Witkoff stated.
In a separate post on X, CZ highlighted that he also met with Bilal Bin Saqib, CEO of the Pakistan Crypto Council (PCC), alongside Witkoff. Notably, the meeting comes shortly after WLFI and PCC’s latest collaboration.
BeInCrypto was the first to report that the DeFi project signed a letter of intent with the council to enhance blockchain development, stablecoin adoption, and DeFi growth in the country. Previously, in early April, CZ had joined PCC as a strategic advisor.
“Our goal is to work alongside industry leaders and showcase Pakistan as a global case study in how emerging markets can harness blockchain to create transformative opportunities,” Saqib said.
Zhao also expressed optimism about the meeting. However, he cautioned that traditional media might frame the event negatively.
“I have a feeling the trad media will try to make up some negative story about this. But we keep building,” CZ wrote.
This statement aligns with his recent disputes with mainstream outlets like Bloomberg. CZ criticized Bloomberg’s coverage of his advisory roles with governments like Pakistan, Kyrgyzstan, and Malaysia on crypto policy.
Zhao argued that Bloomberg negatively framed his efforts by emphasizing his past legal issues rather than focusing on his current work.
Meanwhile, the criticism isn’t limited to CZ. World Liberty Financial has also been the center of substantial scrutiny, given its ties to the President. US senators have raised concerns about potential conflicts of interest. In fact, previous reports emerged about the Trump family possibly acquiring a stake in Binance—claims that CZ strongly refuted.
Despite external scrutiny, the high-profile meeting affirms the involved parties’ commitment to building a more solid and collaborative future for the cryptocurrency sector.
The post World Liberty Financial Co-Founders Meet Binance’s CZ to Discuss Global Crypto Expansion appeared first on BeInCrypto.