2 key Ethereum price metrics prove pro traders are behind ETH’s new highs

As Ether (ETH) made a $2,800 all-time on April 29, so did its futures open interest. The $8.5 billion figure marks a 52% monthly increase and shows robust trading activity behind the meteoric price rise. Some analysts might dismiss Ether derivatives, considering CME’s future has $355 million in open interest compared to Bitcoin’s $2.4 billion. However, Ether contracts were only launched a couple of months ago. Both FTX and Deribit require 100% full-KYC for their clients, and these markets hold a combined $2 billion in ETH open interest. Ether futures…

Bitcoin bulls attack $57,000 and altcoins rally as April comes to a close

Bitcoin (BTC) and the overall cryptocurrency market sprang to life on April 30 as an uneventful close to this month’s $4.2 billion options expiry occurred without any signs of controversy.  Data from Cointelegraph Markets and TradingView shows that after a brief dip below the $53,000 support level on April 29, the price of Bitcoin staged a 10% rally back above $57,400 by midday. BTC/USDT 4-hour chart. Source: TradingView The revelation from MicroStrategy CEO Michael Saylor that the company saw a 52% surge in revenue compared to the same quarter last…

Staking giant Lido looks to bring services to Solana

One of the largest ETH 2.0 and Terra staking services is now looking to expand to other proof-of-stake chains, starting with upstart layer 1 Solana.  In a proposal today on Lido’s governance forums, crypto infrastructure provider Chorus One laid out a plan to build “a liquid staking token (for now: stSOL) that will accrue staking rewards and represent staking positions with Lido validators on Solana,” similar to Lido’s current interest-accruing stETH token. Development funding to bring Lido’s services to an additional chain would come from the Lido Ecosystem Grants Organization,…

A $1 billion crypto fund could be on its way from Andreessen Horowitz

Building on its previous crypto involvement, VC firm Andreessen Horowitz is now reportedly gathering thunder for another fund, according to an article from the Financial Times, or FT. “The new fund, Andreessen’s third that is focused on cryptocurrency investments, is aiming to raise between $800m and $1bn from investors, according to four people with knowledge of the process,” FT wrote on Friday. A Venture Capital, or VC, firm, Andreessen Horowitz also operates under the name a16z. The entity is active in the crypto and blockchain sector, and has invested in…

Got crypto? Here are 3 debit cards that let you spend your stack

As blockchain technology and the public’s awareness of cryptocurrency continues to grow, a range of new use cases a coming to market and enhancing the efficacy of legacy financial systems. Despite its many applications, the original use case for Bitcoin (BTC) as a medium of exchange remains one of the most fundamental applications of blockchain technology and while BTC might not be the best asset to use for payments, there are service providers who have eased the process of settling transactions in other cryptocurrencies. For now, the most widely accepted…

Experts debate Bitcoin climate footprint in latest Cointelegraph Crypto Duel

In the latest Cointelegraph Crypto Duel, founder of Digiconomist Alex de Vries and CEO and founder of Blockchain for Climate Joseph Pallant debated the intensity of Bitcoin’s footprint and possible paths forward to reduce it.  As pointed out by de Vries, Bitcoin’s energy consumption has been increasing together with its network.  The analyst predicts its carbon footprint could increase tremendously as Bitcoin gets closer to mass adoption. “I fear that this will quickly get completely out of control if adoption increases a lot more”, he said. According to de Vries,…

Impact of crypto still years out, T. Rowe Price’s head says

Although the crypto space has been around for more than a decade, William Stromberg, CEO of mainstream investment management outfit T. Rowe Price, thinks the asset class is still finding its sea legs.  “It’s early days,” Stromberg told the Baltimore Business Journal in an interview when asked if “T. Rowe Price will ever start investing in cryptocurrencies.” “We have some research going on around it,” the CEO added. “Some companies, just really a handful, have tried to put together products where one can buy and own crypto-related currencies.” So far,…

Bitcoin hits $57K in surprise surge to almost erase April BTC price crash

Bitcoin (BTC) retook $57,000 on April 30 as a surprise bullish end to month took traders by surprise. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView $4.2 billion expiry gives way to big Bitcoin gains Data from Cointelegraph Markets Pro and Tradingview showed BTC/USD climbing 5% in hours on Friday to come within inches of a green monthly close for April. At press time, $57,000 still formed a focus, with the pair needing to clinch $58,800 to avoid April’s monthly candle turning red. On social media, traders pointed to this month’s $4.2 billion…

Nightlife comes to the metaverse as Decentral Games opens Atari Casino

Virtual land governance DAO Decentral Games is continuing to expand into the metaverse nightlife space with the launch of an Atari-branded casino.  The casino will be the third such gambling establishment for the DAO, which purchases land in virtual worlds like Decentraland and opens digital businesses. Using brand assets from Atari, the provably-fair games are designed to be “nostalgia-inducting,” per a press release from Decentral Games. Gamers can play with a wide range of tokens, including DAI, ETH, and Decentraland’s MANA, and a “gaming mining” program is also in effect…