Dig Deeper, Invest Smarter
The Dogecoin supporter, Elon Musk, is all set to launch an X App trading platform this year. CEO Lica Yaccaino has confirmed that the platform is rolling out “investment or trading,” which is part of Musk’s plan to turn X from just a simple social media platform to a super-app. However, with the launch time
The post Will Dogecoin Be Part of Elon Musk’s X App Trading Launch in 2025? appeared first on CoinGape.
According to the official announcement from the US Securities and Exchange Commission (SEC), President Donald Trump’s nominee, Paul Atkins, has officially assumed office as the 34th Chairman of the SEC.
His appointment follows confirmation by the US Senate earlier this month, with the vote concluding in a 52-44 majority.
In his statement, Atkins expressed gratitude for President Trump’s and the Senate’s trust in him. He emphasized his goal of ensuring the US is the most secure and attractive place in the world for investment and business.
“As I return to the SEC, I am pleased to join with my fellow Commissioners and the agency’s dedicated professionals to advance its mission to facilitate capital formation; maintain fair, orderly, and efficient markets; and protect investors,” the new SEC chair said.
Previously, during the Senate hearing, Atkins stressed that crypto regulation would be a “key priority” for him. He succeeds Gary Gensler, who is known for his staunch criticism of the industry, especially altcoins.
Last week, Gensler reiterated his stance, arguing that sentiment, not fundamentals, drives the majority of cryptocurrencies. He believes this makes them unsustainable and prone to losing value over time.
Notably, Gensler’s tenure at the SEC was marked by roadblocks for several altcoin exchange-traded funds (ETFs). However, that changed after his exit.
Since Genler’s resignation, there has been a surge in crypto ETF applications. As BeInCrypto reported earlier, 72 crypto-linked ETF filings with the SEC are currently awaiting approval to list or offer options.
“Full serving of ETF-related items on his plate including: 1) In-kind creation and redemption for spot btc & eth ETFs, 2) Staking in spot eth ETFs, 3) Dozens of crypto-related ETF filings. Should start seeing real movement,” wrote Nate Geraci, President of The ETF Store.
Analysts suggest that the surge in filings may be a result of companies testing the limits of the SEC. Yet, Atkins’ decision on the long list of altcoin and meme coin ETFs could set a new precedent for future crypto-related filings.
“The SEC in the United States is officially a pro-crypto administration!” an analyst stated.
The optimism extends beyond the ETFs. Under the Trump administration, many companies, including Coinbase, Uniswap, Yuga Labs, Kraken, and Ripple, had SEC investigations or lawsuits closed. BeInCrypto highlighted that these companies and several others donated over $85 million to the President’s inauguration, raising concerns about potential conflicts of interest.
Now, Atkins’ experience and market-friendly approach are expected to be critical as the SEC navigates the challenges of the $2.8 trillion crypto market. Investors and policymakers will closely watch his leadership, particularly as the SEC works to strike a balance between encouraging innovation and enforcing strong oversight.
The post Paul Atkins Appointed SEC Chairman: What His Leadership Means for Crypto appeared first on BeInCrypto.
HBAR has made a solid attempt at recovery recently, but broader market cues are pulling the altcoin back.
Trading at $0.156, HBAR is likely to face some correction in the coming days as weak inflows and bearish sentiment weigh on its price action. Despite this, the token remains a focal point for potential future growth.
The Chaikin Money Flow (CMF) indicator has struggled to close above the zero line, signaling weak inflows into HBAR. This is a concerning signal, as the CMF’s failure to sustain positive movement reflects investor skepticism and a lack of strong buying interest. Although HBAR briefly crossed into the positive CMF zone for the first time in over a month, the overall market sentiment remains weak.
This struggle with the CMF suggests that investor confidence is fragile, with many hesitant to commit to HBAR at higher levels. As a result, the chances for continued upward momentum appear limited, and the likelihood of further gains remains low unless broader market conditions improve or a surge in buying interest occurs.
On a more positive note, technical indicators like the Relative Strength Index (RSI) are showing bullish momentum for HBAR. Currently sitting above the neutral 50.0 mark, the RSI indicates that buying pressure is gaining strength. This shift suggests that, despite the weak inflows, there may still be potential for HBAR to experience a positive price move if the momentum continues to build.
The RSI moving into bullish territory is a critical signal for investors, as it shows that the market is not entirely bearish. The increasing momentum could eventually work in favor of HBAR, potentially counteracting some of the challenges presented by weak inflows and broader market uncertainty. The key will be whether this momentum can sustain itself over time.
HBAR’s price has been stuck under a two-week-long downtrend, currently trading at $0.156. To escape this trend, HBAR will need to show further signs of strength, both from technical indicators and market sentiment. If the conditions outlined above improve, the token may break free from its downward trajectory.
The first major hurdle for HBAR is breaking and flipping the $0.163 level into support. This is crucial as it would pave the way for the altcoin to reach the $0.180 resistance level. Investors will need to hold their positions through this critical phase, as any premature selling could derail the potential for further gains.
However, if investor sentiment shifts to selling, whether for profit-taking or due to increased uncertainty, the bullish outlook could be invalidated. Losing the $0.154 support level would likely result in a drop toward $0.139, ending HBAR’s hopes for a continued recovery in the short term.
The post HBAR Price Struggles to Break Out: What’s Holding the Altcoin Back? appeared first on BeInCrypto.
Decentralized perpetual exchange (DEX) Hyperliquid (HYPE) has reached a significant milestone, surpassing $1 trillion in total perpetual contract (perps) trading volume.
This achievement comes despite a broader market downturn, where major sectors have posted losses. While there has been slight growth today, it remains minimal, highlighting the market’s challenges.
According to data from DeFiLlama, Hyperliquid perps’ cumulative trading volume has surged to $1.1 trillion. This rise in activity highlights its growing appeal among traders.
Furthermore, as reported by Dune Analytics, weekly volumes have ranged between $40 billion and $50 billion. In fact, the platform now commands over 60% of the market share among perps platforms, solidifying its position as a powerhouse in decentralized finance (DeFi).
Besides its market dominance, Hyperliquid has made headlines for being central to a major development. As BeInCrypto reported, the platform gained widespread attention after a whale trader opened a 40x leverage BTC short position worth $423 million, triggering a “whale hunt.”
Nonetheless, the developments have not done much for the platform’s native token, HYPE. Instead, it has been underperforming, maintaining a consistent downtrend.
Over the past day, it has depreciated by 3.4%. At press time, it traded at $12.9, marking lows not seen since December 2024. Moreover, the platform has faced increased scrutiny following concerns about potential money laundering.
Despite these struggles, an analyst predicted that HYPE could reach $50-$100, citing its status as the leading crypto DEX and its high-throughput Layer 1 blockchain.
In the latest X (formerly Twitter), he highlighted Hyperliquid’s impressive growth. The platform averages $6.7 billion in daily volume, a significant increase from $1.1 billion in October. This surge has increased its market share relative to Binance, jumping from 2% to 9% in just six months.
“If Hyperliquid can maintain just a fraction of its growth rate, we could see it reach ~20% of Binance’s volumes by the end of the year,” the post read.
According to the analyst, this expansion could significantly boost the HYPE token’s valuation.
“If Hyperliquid is able to reach 20% of Binance’s volume, I think we could easily see $40-50 HYPE with the uptick in earnings and a slight multiple expansion,” he said.
He also highlighted several factors that could fuel Hyperliquid’s continued success. The recent addition of native spot Bitcoin (BTC) trading, coin margin functionality, and the possibility of launching a delta-neutral stablecoin are seen as major catalysts for future growth.
Another key development is the evolution of Hyperliquid’s Layer 1 blockchain ecosystem. The platform has attracted over 50 projects and holds over $2.3 billion in USDC and BTC deposits.
The analyst added that Hyperliquid has a strong potential to establish itself as the third most used blockchain, following Ethereum (ETH) and Solana (SOL), within the next few years.
“Given ETH and SOL are worth $230 billion and $75 billion, respectively what does that make Hyperliquid’s potential L1 valuation? Even at 15-25% of ETH or SOL, that adds another $10-50 to the token price. $50 for the perps/spot/stablecoin product + another $50 for the L1 and $100 HYPE seems possible,” he predicted.
The post Hyperliquid Surpasses $1 Trillion in Perps Volume, but HYPE Token Continues to Struggle appeared first on BeInCrypto.