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South Korea’s banking heavyweights are making a bold play for digital dominance, teaming up to launch a won-backed stablecoin. According to recent reports, eight major South Korean banks are collaborating with the Open Blockchain and DID Association and the Financial Settlement Institute on the stablecoin project. South Korean Bank Consortium to Launch Won-Linked Stablecoin As
The post South Korea’s Banking Giants Team Up For Won-Backed Stablecoin Project appeared first on CoinGape.
In a groundbreaking revelation, 21Shares announced a significant reduction in the management fees for its Bitcoin Ethereum Core ETP (ABBA). In addition, the ETP provider listed ABBA on the Xetra exchange, effective March 12, 2025, aiming to make crypto investments more affordable and accessible.
Notably, 21Shares’ ABBA offers investors a cost-effective way to invest in both Bitcoin and Ethereum, with the added security of being fully backed by these two leading cryptocurrencies. Let’s now unveil how the latest development will provide advanced investment opportunities in Bitcoin and Ethereum.
According to a press release, 21Shares, one of the world’s largest ETP providers, announced the reduction of management fees for its Bitcoin and Ethereum Core ETP (ABBA) to 0.49%.
Significantly, the fee reduction coincides with the listing of ABBA on the Xetra exchange, which took effect on March 12, 2025.
The post Breaking: 21Shares Reduces Fees for Bitcoin Ethereum Core ETP, Lists on Xetra appeared first on CoinGape.
The post BONK Could Face 40% Decline, Despite Bullish Divergence Signal appeared first on Coinpedia Fintech News
Bonk (BONK), the popular Solana-based meme coin, is on the verge of a massive price crash. This bearish outlook emerges during a period when major cryptocurrencies are experiencing massive sell-offs and price crashes.
According to expert technical analysis, BONK appears bullish but is currently at a make-or-break level of $0.0000095. The daily chart shows multiple bullish signals, such as bullish divergence and the formation of a bullish double-bottom price action pattern.
However, the ongoing market sentiment and downward momentum in major assets like Bitcoin (BTC) and Ethereum (ETH) seem to be influencing other cryptocurrencies, especially those with a small market cap like BONK.
Based on recent price action and historical momentum, this key level has consistently acted as strong support. Since December 2023, BONK has experienced multiple upward moves after bouncing from this level. Meanwhile, experts and traders are also expecting a similar move in the meme coin.
However, given the current unfavorable market sentiment, BONK’s bullish outlook appears to be challenging.
The daily chart reveals that if BONK fails to hold this level and closes a daily candle below $0.0000088, it could drop by 38% to reach the next support at $0.0000055 in the future. However, if the meme coin holds this level, there is also a possibility that history will repeat and BONK will once again see an upside rally.
At press time, BONK is trading near $0.000009677 and has recorded a price decline of over 5.50% in the past 24 hours. Meanwhile, during the same period, its trading volume dropped by 55%, indicating lower participation from traders and investors, potentially due to the current market sentiment.
Given the strong bearish market and downward momentum in BONK, traders seem to be dominating the asset by heavily betting on the bearish side, as reported by the on-chain analytics firm Coinglass.
Data reveals that traders are over-leveraged at $0.0000095 on the lower side (support), where only $11.30K worth of long positions have been built. In contrast, $0.00001062 is another over-leveraged level on the upper side (resistance), where traders have built $271.30K worth of short positions.
Examining this on-chain metric, it appears that short sellers are currently dominating, with minimal interest in going long on BONK. This could easily push the meme coin lower and lead to a breach of its support level.
The post BONK Could Face 40% Decline, Despite Bullish Divergence Signal appeared first on Coinpedia Fintech News
Bonk (BONK), the popular Solana-based meme coin, is on the verge of a massive price crash. This bearish outlook emerges during a period when major cryptocurrencies are experiencing massive sell-offs and price crashes. BONK Technical Analysis and Upcoming Level According to expert technical analysis, BONK appears bullish but is currently at a make-or-break level of …
Kraken exchange may be the next crypto firm to go public, after Justin Sun’s Tron and Jeremy Allaire’s Circle recently.
The IPO (Initial Public Offering) flywheel continues accelerating, with more crypto firms following the trend.
In November 2024, Cathie Wood’s Ark Invest saw an IPO window for two crypto-related firms under Trump, Circle and Kraken exchange.
“Among the possibilities are…the re-opening of the initial public offering (IPO) window for late-stage digital asset companies like Circle and Kraken…,” read a paragraph in the newsletter.
Fast-forward nine months, Circle has already gone public, and now Kraken’s IPO is in the pipeline. Reports indicate that the US-based crypto exchange is seeking $500 million in funding at a $15 billion valuation for its IPO rails.
BeInCrypto saw it coming. A cryptic video on May 17 raised speculation after revealing the symbol KRAK in the caption “KRAK the World” without providing any context.
$KRAK the world
pic.twitter.com/LWbo2yLWsQ
— Kraken (@krakenfx) May 17, 2025
This post hinted that the exchange was either considering a possible public listing, launching a native token, or both.
Beyond the speculation, Bloomberg hinted at a Kraken IPO in early 2026, citing a friendlier regulatory environment under President Trump. This followed former US President Joe Biden’s administration, alongside Gary Gensler’s tenure, stifling IPO ambitions for several crypto firms, including Kraken and Gemini.
However, under President Trump, regulatory actions against Gemini and Kraken, among other crypto firms, dropped. This set the tone for public listings, with more industry firms now seeing an opportunity to enter public markets.
Moreover, the FBI recently ended its crackdown against Kraken founder Jesse Powell.
Kraken’s financial highlights for 2024 revealed revenues reaching $1.5 billion and adjusted earnings of $380 million. The firm also showed $472 million in Q1 2025 revenue, up 19% YoY, and a 29% trading volume jump.
While the US-based crypto exchange has not made any formal filing, it has already laid some groundwork. These include cutting staff, streamlining operations, and expanding into stock and derivatives trading.
Elsewhere, crypto custody firm BitGo recently filed for an IPO, although confidentially, following Circle’s debut and filings by Bullish and Grayscale.
Circle’s IPO highlighted the wealth generated through early-stage investments and its exclusivity to institutional investors. Its IPO momentum could help it challenge Tether’s dominance in the stablecoin market.
Similarly, Kraken’s prospective IPO could boost its ranks in the US stablecoin market against peers like Coinbase and Binance.US.
The post Another Crypto Giant Eyes Wall Street with $15 Billion Valuation appeared first on BeInCrypto.
