6 May 2025, 20:46

Bitwise Filed an S-1 Form for NEAR ETF— Yet Near Price See No Pump

The post Bitwise Filed an S-1 Form for NEAR ETF— Yet Near Price See No Pump appeared first on Coinpedia Fintech News Bitwise, one of the biggest U.S. fund managers with $12 billion in assets under management, has taken a massive step in a NEAR ETF application. Bitwise has officially filed a Form S-1 with the U.S. Securities and Exchange Commission (SEC) to launch a NEAR-based ETF. If approved, this could be a major turning point for NEAR, pushing its price to the next level. Meanwhile, other giant institutions are also eying now for Near ETF. Bitwise Files for NEAR ETF On May 6, Bitwise sent a filing to the U.S. SEC to launch a new ETF called the Bitwise NEAR ETF. This fund will follow the price of NEAR, the native token of the NEAR blockchain. The NEAR tokens will be held by Coinbase Custody, a trusted company that keeps digital assets safe. They are licensed in New York and already work with big crypto projects. Bitwise has filed a Form S-1 with the U.S. SEC to launch the Bitwise NEAR ETF, which will track the value of NEAR held by the trust, net of operating expenses and liabilities. https://t.co/dUCKFpx5i7 — Wu Blockchain (@WuBlockchain) May 6, 2025 If the SEC approves it, this would become the first U.S. ETF linked to NEAR, a fast and developer-friendly blockchain. Meanwhile, this will let people invest in NEAR without needing to buy or store the token themselves. More Filings Incoming For NEAR ETF Last month, on April 25th, Bitwise registered the Bitwise NEAR ETF in Delaware. This is usually the first step before filing with the SEC to launch a real ETF that tracks NEAR’s price. Bitwise isn’t the first to show interest. Before this, Grayscale and 21Shares have already made NEAR investment products. But Bitwise jumping in now could bring more attention, money, and new investors to NEAR. Technical Indicators Show Mixed Signals Despite the positive news, Near protocol native token NEAR’s price hasn’t reacted strongly yet. As of now, it is trading around $2.30, reflecting a drop of 1.6% seen in the last 24 hours. However, the short-term technical indicators suggest some caution. The MACD is signaling bearish momentum, while the RSI is now at 90 , suggesting that NEAR is overbought. This setup hints that a price drop could be near. Unless the bulls manage to defend the key support at $2.10 and push NEAR back up toward the $2.70 resistance zone.

6 May 2025, 20:30

Boop.fun token launches fall by 90% despite bid to outcompete Pump.fun

Boop.fun was all the rage in the past week, attempting to take the crown of Pump.fun as the next big Solana meme launchpad. Within days, the creation of tokens slowed down significantly, despite the heavy promotion. Boop.fun launched with flying colors and big promises as the second meme launchpad on Solana. The platform offered additional perks missing on Pump.fun, such as profit-sharing. On the first day after its launch, Boop.fun created 10,877 tokens, of which 154 graduated to DEX. This activity level resembled Pump.fun on one of its weaker days, but has been the best day for Boop.fun so far. Soon after launching, the daily token creation sank by 90%, with as low as 1,072 tokens on May 4. The platform was heavily promoted by crypto influencers and gained exposure in the very first days after its launch. So far, Boop.fun has interacted with around 85,000 unique wallets. Between May 106, the platform had a total of 22,643 tokens, less than a day’s worth of launches on Pump.fun. The platform is still in its early stages, and is the first rival of Pump.fun to launch on Solana. Other contenders like TRON’s SunPump and Four.meme on BNB Chain have also tapped only a fraction of the Pump.fun traffic. Boop.fun is still trying to attract users to its trenches, this time with the promise of sharing fees with token creators. The platform also attracts key opinion leaders (KOLs) as the main source of token creation. Influencers from X created meme tokens of their own brand as a way to receive BOOP tokens and promote Boop.fun | Source: Boop screener The big difference with Pump.fun is that any BOOP holder can stake the token and get a share of the platform’s fees. At the same time, KOLs and crypto celebrities will only get more BOOP if they launch a meme token and promote it. This has created a new category, where KOLs use their brand to launch a new meme token. The success of those assets is yet to be proven and to see if crypto celebrities on X can sway some of the traffic from Pump.fun. Binance’s Changpeng ‘CZ’ Zhao dampens enthusiasm for Boop.fun One of the major sources of attention for Boop.fun was its addition to Binance Alpha, the regular list of curated tokens. Following the exposure, BOOP rallied close to $0.40. The token is still in its early stage and is extremely volatile due to low volumes. The asset still relies on DEX trading, including PancakeSwap and Orca. However, the attention from the Binance ecosystem was not entirely positive. Binance’s founder Changpeng ‘CZ’ Zhao commented on the information that the project’s founder had a leadership role with the Binance exchange. The founder of Boop.fun, known as Dingaling on X, has participated in the creation of PancakeSwap , though reportedly, he has never held an executive position with the company. The additional exposure from ‘CZ’ Zhao did not help Boop.fun in its initial run. The coming days will show if KOLs will work well as token creators and replace the ‘trenches’ on Pump.fun. KEY Difference Wire helps crypto brands break through and dominate headlines fast

6 May 2025, 20:28

Standard Chartered Reveals Its 2028 Price Prediction for BNB – Hard-to-Believe Numbers

Standard Chartered has published an analysis of Binance’s native coin BNB, predicting that the coin’s price could reach $2,775 by the end of 2028. This forecast indicates an increase of over 360% from current levels. “BNB has been almost exactly in line with an unweighted basket of Bitcoin and Ethereum in terms of both return and volatility since May 2021. We expect this relationship to continue and the price to rise from around $600 to $2,775,” said Geoffrey Kendrick, Head of Digital Assets Research at Standard Chartered, in the report published by the bank. Kendrick sees BNB as a “benchmark-like” asset in the cryptocurrency market. Kendrick acknowledged that it may be weaker in terms of absolute returns and circulating market cap compared to Bitcoin and Ethereum, but stated that BNB will maintain its long-term value thanks to its deflationary structure and close relationship with the Binance exchange. Related News: Two Mysterious BTC Whales Who Bought Bitcoin Below $1,000 Have Woken Up - Here's What We Know BNB Chain’s “proof of staked authority” consensus model, which works with just 45 validators, unlike decentralized networks like Ethereum, means the network is highly centralized. Kendrick said this structure has resulted in much lower developer activity compared to rivals like Avalanche and Ethereum. However, he said the recent Pascal hardfork and the Maxwell upgrade expected in June could increase developer interest over time. BNB continues to see strong user demand thanks to its use cases, which provide benefits such as reduced trading fees on the Binance exchange. According to Kendrick, the dominance of decentralized applications like PancakeSwap on the BNB Chain plays a key role in maintaining the network’s effectiveness despite increasing competition from rival ecosystems like Solana. Kendrick also said that BNB’s deflationary supply model and regular token burn mechanism contribute to it trading at a “high” value based on Standard Chartered’s preferred market cap-to-GDP ratio for Layer 1 projects. *This is not investment advice. Continue Reading: Standard Chartered Reveals Its 2028 Price Prediction for BNB – Hard-to-Believe Numbers

6 May 2025, 20:24

Tether adds Chainalysis tokenization platform for compliance, monitoring

Tether, the issuer of the world’s largest stablecoin by market cap USDt ( USDT ), has announced a partnership with Chainalysis that will integrate the company’s compliance and monitoring tools onto Tether’s tokenization platform. The move comes amid expanding oversight across the crypto industry. Launched in November 2024 , the Hadron by Tether platform is designed for institutions, corporations and governments, entities that may be interested in tokenizing real-world assets ranging from financial instruments and real estate to debt and commodities. The months following the launch have seen increased adoption of real-world asset (RWA) tokenization. According to RWA.xyz, the total RWA market amounts to $22.1 billion, up 10.5% in the past 30 days. There are a total of 100,115 holders of RWA tokens, up 5.6% in the same time frame. “By integrating Chainalysis directly into the platform, we’re offering institutional-grade transparency, compliance, and risk mitigation without compromising on decentralization or control,” Tether CEO Paolo Ardoino said in a statement. According to the announcement, Hadron by Tether users will now have risk detection, real-time transaction monitoring, and Know-Your-Transaction (KYT) support. Terms of the deal were not disclosed. Tether raked in $13 billion in profits in 2024 , and posted $1 billion in operating profit for Q1 2025 . Related: What is Hadron? Exploring Tether’s asset tokenization platform Chainalysis acquisitions and predictions Chainalysis, a blockchain data platform, is known for its security tools and real-time monitoring. Among its partners include exchanges Crypto.com and Bitfinex, payment processor MoonPay, and bank BBVA. Chainalysis has recently beefed up its technology stack, acquiring Web3 security firm Hexagate in December 2024 and Alterya, an AI fraud detection startup , in January this year. The company, founded in 2014, predicted that 2025 would be the biggest year ever for crypto scams due to the rise of artificial intelligence. Magazine: Lazarus Group’s favorite exploit revealed — Crypto hacks analysis

6 May 2025, 20:10

KuCoin releases 30th consecutive proof of reserves report: BTC at 106%, ETH at 116%

KuCoin cryptocurrency exchange has released its 30th Proof of Reserves report. According to the report, all of the top cryptocurrencies on the exchange are overcollateralized and completely reserved as of April 30, 2025. As per the data, Bitcoin reserves are covered at 106%, Ethereum at 116%, USDT at 114%, and USDC at 109%. This transparency initiative comes as exchanges face increased scrutiny over their reserve management practices and amid contradictory claims about KuCoin’s actual holdings. Detailed KuCoin reserve ratios exceed 100% across all major assets The most recent Proof of Reserves report of KuCoin provides a transparent picture of the exchange assets. It indicates that user deposits are fully covered and have excess funds on top of the 100% coverage mandate. Based on the information gathered on April 30, 2025, at 23:59:59 UTC+8, the exchange has assets in its wallets that are higher than the combined deposits by users in all the popular cryptocurrencies. KuCoin explains that there are 9,751.17 BTC stored in users’ accounts and a total of 10,306.78 BTC stored in the total wallets in the case of Bitcoin. That equates to a reserve rate of 106%. What the exchange then effectively has is nearly 555 more BTC than have been deposited by users. With Ethereum, this reserve rate of 116% means there are 145,807.40 ETH stored by users against the total 168,779.13 ETH held in wallets. Source: KuCoin The stablecoin reserves are more than fully collateralized. USDT is backed at a 114% ratio, with 1.18 billion in user assets against wallet assets of 1.34 billion. USDC is backed at a ratio of 109%, with 85.71 million in user assets against wallet assets of 93.42 million. These statistics show that if all the users withdrew simultaneously, KuCoin would have reserves to cover all the withdrawals and still have some assets left over. Conflicting narratives about KuCoin’s actual reserves Although a recent proof of reserves report by KuCoin showed strong overcollateralization, the exchange has become a victim of misleading accusations about the true assets on its balance sheets. Since June 2023, KuCoin’s Bitcoin reserves have decreased by 77.6%, according to CryptoQuant’s Onchain School. That’s when the exchange started enforcing more stringent Know Your Customer (KYC) regulations. The analytics firm found that KuCoin’s Bitcoin reserves dropped from about 18,300 BTC to at least 4,100 BTC. This was following the June 5, 2023, rumors regarding shifting KYC rules and the June 28, 2023, release of a real-name system requirement. KuCoin said the claims are false and objected to the release of what it called “unverified claims.” They also asked CryptoQuant to be more careful when releasing information that can affect trust in the market. The exchange claims that its reserves are sufficient, as demonstrated by its reserve period reports. While proof of reserves reports provide a snapshot of an exchange’s holdings at a specific moment, critics argue these reports may not give the complete financial picture. This included potential liabilities or off-chain arrangements. Cryptopolitan Academy: Coming Soon - A New Way to Earn Passive Income with DeFi in 2025. Learn More

6 May 2025, 20:06

Company That Recently Announced It Would Purchase $200 Million Worth of Bitcoin Has Changed Its Mind: Now Plans to Purchase $500 Million Worth of BTC

Thumzup Media Corporation has increased its maximum issuance amount from $200 million to $500 million in its updated Form S-3 registration statement filed with the U.S. Securities and Exchange Commission (SEC). According to the company’s statement, the net proceeds will be used for general corporate purposes, working capital, and specifically Bitcoin (BTC) purchases. In this regard, Thumzup continues to adopt BTC as its primary treasury reserve asset. Once the registration statement becomes effective, Thumzup will be able to raise up to $500 million in total through various capital raising methods over three years. The securities that can be issued during this period include common stock, preferred stock, notes, warrants and purchase agreements. Related News: HOT MOMENTS: US President Donald Trump Says He Will Make a Big Announcement - The Market Reacts! Here Are the Details Thumzup’s Board of Directors previously authorized the company to allocate up to 90% of its liquid assets to BTC. This strategy makes digital asset investments a core part of the company’s long-term growth plans. The company said it does not currently plan to sell any securities, but will file a separate prospectus with the SEC for each potential future issuance. *This is not investment advice. Continue Reading: Company That Recently Announced It Would Purchase $200 Million Worth of Bitcoin Has Changed Its Mind: Now Plans to Purchase $500 Million Worth of BTC