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Hamster Kombat (HMSTR) is going through a rough patch after losing 17% in under 24 hours. Several factors are contributing to the HMSTR price crash, including massive whale sell-offs and waning enthusiasm for the project. Hamster Kombat Loses 17% in a Single Day The Telegram-based Tap-to-Earn project Hamster Kombat has seen HMSTR tumble by over
The post Here’s Why Hamster Kombat (HMSTR) Price Crashed 17% Today appeared first on CoinGape.
The SUI price is showing signs of a breakout as cryptocurrency ETP provider 21Shares made a major announcement regarding a SUI ETF. The company’s latest filing with the Securities and Exchange Commission (SEC) for an SUI exchange-traded fund in the United States has pushed the coin’s price high today.
According to the company’s announcement, this filing is “a first step in expanding exchange-traded access to SUI.” The news comes alongside a newly formed partnership between 21Shares and the Sui blockchain network. Institutional interest is driving the expansion of the Layer-1 protocol’s global reach.
21Shares has formed a partnership with the Sui blockchain network while simultaneously filing for a SUI ETF with the SEC. The Switzerland-based company, headquartered in Zurich, is expanding its focus to the U.S. market after building an extensive suite of digital asset services across Europe.
We’ve filed with the SEC for a SUI ETF in the U.S. — a first step in expanding exchange-traded access to SUI.@SuiNetwork https://t.co/06X49EaiFN
Materials provided herein are intended solely for educational purposes only. These materials should not be construed as… pic.twitter.com/dgFpgybwSZ
— 21Shares US (@21shares_us) May 1, 2025
“Since our earliest research into Sui, we believed it could become one of the most exciting blockchains in the industry, and we’re seeing that thesis play out,” said Duncan Moir, President of 21Shares. The company stated that its decision to pursue Sui products is based on both conviction in the technology and growing investor demand.
The partnership will include product collaborations, research reports, and other initiatives designed to increase accessibility to the Sui ecosystem. Kevin Boon, President at Mysten Labs, the original contributor to Sui, stated that “Sui was designed to become the global coordination layer for digital assets.”
The SUI price has shown strong price performance amid the ETF filing news, with an 11% surge in the last 24 hours. This recent jump adds to its 56% gain over the past 30 days and approximately 230% increase over the last year.
Technical analysis from crypto analyst Ted suggests SUI is approaching a critical price point. He mentioned that SUI is approaching a key resistance level. Ted said that the $3.8-$4 zone was rejected last time, and it is now attempting another breakout.
$SUI is approaching a key resistance level.
Last time it got rejected from the $3.8-$4 zone, and it’s attempting another breakout.
If SUI manages to break above $4, it could soon hit a new ATH. pic.twitter.com/cGOVKjTUyC
— Ted (@TedPillows) May 1, 2025
If SUI successfully breaks above the $4 mark, Ted suggests it “could soon hit a new ATH.” The price chart shows an upward trendline that has been supporting the price since late April. CoinGape has also released its price prediction for SUI, which shows a 49% bullish prediction.
The post SUI Price Eyes Breakout As 21Shares Files For Sui ETF appeared first on CoinGape.
Bitcoin’s price remains volatile as traders react to major economic events, including Trump’s crypto reserve, tariffs, and the Federal Reserve’s latest stance.
Bitcoin’s price has experienced significant volatility over the past week, influenced by various economic and political developments. As of Saturday, Bitcoin is trading at approximately $86,000, reflecting a 7% decline from its peak earlier in the week.
Several key factors have contributed to this price movement, including President Donald Trump’s announcement of a strategic cryptocurrency reserve, the implementation of new tariffs, the outcomes of a White House summit on digital assets, and the latest U.S. Non-Farm Payrolls (NFP) report.
On March 2, President Trump unveiled plans for a U.S. strategic cryptocurrency reserve, dubbed the “Digital Fort Knox,” aiming to bolster the nation’s position in the digital asset space. This reserve is set to include major cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Solana (SOL), and Cardano (ADA).
The announcement led to a swift market reaction, with Bitcoin surging 13% moving from local lows around $78,200 to hit a monthly time frame peak of $95,000 within 48 hours of Trump’s crypto strategic reserve announcement . Altcoins like XRP and Cardano saw even more substantial gains, with XRP rising by 40% and Cardano doubling in value.
While the inclusion of altcoins sparked debate among Bitcoin purists, the administration defended the decision as a move to support a diverse range of blockchain projects.
However, further market events prompted short-term traders to take profits, causing Bitcoin’s momentum to record 4 consecutive losing days as the week unfolded.
On March 3, President Trump announced a 25% blanket tariff on all imports from China and Mexico, aiming to protect domestic industries. This policy shift rattled global financial markets, leading to a sharp sell-off in risk assets, including cryptocurrencies. Bitcoin’s price retraced its earlier gains, dipping to a weekly low of $81,400 by March 4.
In response to retaliatory measures from the affected countries and domestic pushback, the administration partially rolled back the tariffs. On March 6, the U.S. Secretary of Commerce announced exemptions for Mexican imports and a one-month delay for auto import tariffs. This policy reversal provided a relief rally for Bitcoin, contributing to consecutive days of price appreciation.
The week culminated with a White House summit on digital assets, where industry leaders and policymakers convened to discuss the future of cryptocurrencies in the U.S. Prior to the summit, David Sacks, the administration’s crypto and AI policy advisor, criticized the previous administration for missing out on potential profits from seized Bitcoin assets. He highlighted that the government currently holds approximately 200,000 BTC, valued at over $17 billion, acquired through legal seizures.
During the summit, President Trump signed an executive order to formalize the creation of the “Digital Fort Knox,” reinforcing the administration’s commitment to integrating cryptocurrencies into the national financial infrastructure. However, the lack of immediate actionable policies led to a 4% decline in Bitcoin’s value post-summit, reflecting market disappointment over the absence of concrete regulatory guidance.
The latest U.S. Non-Farm Payrolls (NFP) report, released on March 7, revealed an increase in unemployment rates, raising concerns about persistent inflation and the potential for more aggressive monetary tightening by the Federal Reserve. These macroeconomic factors have added downward pressure on Bitcoin, as investors reassess risk exposures in light of potential interest rate hikes.
BTC price stabilization around the $86,000 level suggests a consolidation phase as the market digests recent developments. Traders will closely monitor upcoming economic indicators, Federal Reserve communications, and any further policy announcements related to digital assets will likely dictate the next directional move in the coming days.
Bitcoin price forecast signals on the the 12-hour chart shows Bitcoin trading within a tight range, with Bollinger Bands compressing, indicating lower volatility. The price hovers near the 50-day moving average, acting as immediate support, while the upper Bollinger Band at $93,822 serves as resistance.
Momentum indicators suggest mixed signals. The MACD histogram shows declining bullish momentum, with the signal line approaching a bearish crossover. However, the overall structure remains intact, as long as Bitcoin holds above $85,000.
A break below this level could trigger further downside towards $80,800, the lower Bollinger Band, while a rebound could send Bitcoin toward the $87,346 mid-band resistance before a possible push to the $90,000 psychological level.
Leverage remains a key factor, with increased open interest potentially amplifying Bitcoin’s next move. Traders should watch volume trends and liquidity imbalances, as a sharp liquidation event could define the next major price swing.
The post Bitcoin Price Analysis: 4 Factors Influencing BTC Traders this week, and Next Big Move to Expect appeared first on CoinGape.
HashKey Capital has launched the HashKey XRP Tracker Fund, the first fund in Asia focused exclusively on tracking the performance of XRP.
The fund is now open to professional investors. Ripple is backing the initiative as an early investor.
According to HashKey, XRP offers a faster and more cost-effective alternative to traditional cross-border payment systems. The new tracker fund aligns with HashKey Capital’s goal of connecting conventional finance with digital asset markets.
The fund allows investors to subscribe using either cash or in-kind contributions. Investors can redeem or subscribe to shares on a monthly basis.
CF Benchmarks, known for its role in global ETF markets, will provide the fund’s benchmark.
“XRP stands out as one of the most innovative cryptocurrencies in today’s market, attracting global enterprises who use it to transact, tokenize, and store value. With the first XRP Tracker Fund available in the region, we simplify access to XRP, catering to the demand for investment opportunities in the very best digital assets,” said Vivien Wong, Partner at HashKey Capital.
Most recently, Ripple acquired prime brokerage platform Hidden Road for $1.25 billion. It was one of the largest acquisition deals in the crypto and blockchain space.
Earlier today, Hidden Road secured a broker-dealer license from the Financial Industry Regulatory Authority (FINRA).
HashKey Capital is launching Asia’s first XRP Tracker Fund—with @Ripple as an early investor.
This marks a major step in expanding institutional access to XRP, the third-largest token by market cap.
— HashKey Capital (@HashKey_Capital) April 18, 2025
Meanwhile, XRP continues to gain traction with institutional investors. Standard Chartered recently forecast that XRP could surpass Ethereum by 2028, citing increased demand for efficient cross-border payment solutions and growing disruption in global trade.
“XRP is uniquely positioned at the heart of one of the fastest-growing uses for digital assets – facilitation of cross-border and cross-currency payments. In this way, XRPL is similar to the main use case for stablecoins such as Tether. This stablecoin use has grown 50% annually over the past two years, and we expect stablecoin transactions to increase 10x over the next four years. We think this bodes well for XRPL’s throughput growth, given the similar use cases for stablecoins and XRPL,” Geoff Kendrick, Standard Chartered’s Head of Digital Assets Research, told BeInCrypto.
Interest in XRP ETFs is also increasing. Teucrium Investment Advisors recently received NYSE Arca approval for the Teucrium 2x Long Daily XRP ETF (XXRP), the first leveraged XRP ETF in the United States.
Also, attention is now turning to spot XRP ETFs. Grayscale and 21Shares are both awaiting decisions from the SEC on their XRP-based products.
The SEC has up to 240 days to review the Grayscale XRP Trust and the 21Shares Core XRP Trust, with final deadlines set for October 18 and 19, 2025.
XRP’s price has declined by nearly 20% over the past month, but institutional confidence remains high.
Ripple recently confirmed progress in resolving its long-standing legal battle with the SEC. A joint motion to pause court proceedings was approved, giving both parties 60 more days to finalize a settlement.
The post HashKey Launches Asia’s First XRP Investment Fund for Institutions appeared first on BeInCrypto.
