20 May 2025, 04:04

Ethereum’s Exchange Supply Falls Below 4.9% for First Time in History, Bitcoin Drops to 7.1%

On May 20th, COINOTAG News reported a significant milestone in the cryptocurrency landscape, highlighting a profound decline in Ethereum’s supply on exchanges, now below 4.9% for the first time in

20 May 2025, 03:18

Ethereum Price Flashes Bullish Signal, But Can It Power Through Obstacles?

Ethereum price found support at $2,320 and started a fresh increase. ETH is now rising and might aim for a move above the $2,650 resistance zone. Ethereum started a decent increase above the $2,450 and $2,500 levels. The price is trading above $2,500 and the 100-hourly Simple Moving Average. There was a break above a connecting bearish trend line with resistance at $2,530 on the hourly chart of ETH/USD (data feed via Kraken). The pair could gain strength if it clears the $2,650 resistance in the near term. Ethereum Price Regains Traction Ethereum price started a downside correction below the $2,450 level, unlike Bitcoin . ETH traded below the $2,400 and $2,350 support levels. However, the bulls were active near the $2,300 zone. A low was formed at $2,308 and the price started a fresh increase. There was a move above the $2,450 and $2,500 levels. The price surpassed the 61.8% Fib retracement level of the downward move from the $2,583 swing high to the $2,308 low. Besides, there was a break above a connecting bearish trend line with resistance at $2,530 on the hourly chart of ETH/USD. Ethereum price is now trading above $2,540 and the 100-hourly Simple Moving Average. The price is also above the 76.4% Fib retracement level of the downward move from the $2,583 swing high to the $2,308 low. On the upside, the price could face resistance near the $2,580 level. The next key resistance is near the $2,600 level. The first major resistance is near the $2,650 level. A clear move above the $2,650 resistance might send the price toward the $2,720 resistance. An upside break above the $2,720 resistance might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $2,780 resistance zone or even $2,840 in the near term. Another Decline In ETH? If Ethereum fails to clear the $2,650 resistance, it could start a fresh decline. Initial support on the downside is near the $2,520 level. The first major support sits near the $2,450 zone. A clear move below the $2,450 support might push the price toward the $2,420 support. Any more losses might send the price toward the $2,320 support level in the near term. The next key support sits at $2,250. Technical Indicators Hourly MACD – The MACD for ETH/USD is gaining momentum in the bullish zone. Hourly RSI – The RSI for ETH/USD is now above the 50 zone. Major Support Level – $2,450 Major Resistance Level – $2,650

20 May 2025, 03:00

Bithumb grabs 25% of Korea’s crypto market ahead of $1B IPO

South Korea’s biggest crypto exchange by trading volume, Bithumb, has bounced back, easily regaining more than a quarter of the country’s total digital currency trading volume ahead of its anticipated $1 billion IPO in late 2025. The rise is a welcome return to form for Bithumb, which has had a torrid 12 months. Founded in 2014 under the name Xcoin and rebranded in 2015, Bithumb once ruled the roost in South Korea with over 70% of trading volumes. However, the exchange began to fade after suffering hacks, including one in 2018 that saw it lose about $30 million. Meanwhile, rival Upbit rose to prominence after partnering with internet-only Kbank, which could help process new exchange users digitally. But by 2024, Bithumb came roaring back. It raised marketing expenses more than tenfold to 192 billion won in 2024, from 16 billion in 2023. Data from market data provider Kaiko shows that Bithumb held 36% of the trade in January 2024. Though those figures have since waned, the firm has maintained around 25%. That’s quite a bit higher than its high single-digit market share at the start of 2023. Bithumb’s sudden resurgence is throwing the market into disarray in a country where Upbit has long held a near-monopoly. For years, Upbit was a primary growth driver with Kbank, and it was able to roll out a digital onboarding process for customers. The return of Bithumb, however, indicates that the market is now better positioned to compete. Bithumb sets the stage for public listing Bithumb is presently in preparation for IPO . The exchange is now racing to reach 1 billion dollars in IPO goals. A listing is scheduled for the second half of 2025, with Samsung Securities as the lead underwriter. The bourse plans to list South Korea’s KOSDAQ stock market and is considering a dual listing of the cryptocurrency exchange operator on the United States’ NASDAQ market to attract more global investors, KRX said. Bithumb has already broken its non-exchange businesses into smaller units to make the company easier to manage ahead of the IPO chase. NYC 5G (Bithumb A) was spun off on 31 July 2025. This move is intended to simplify its corporate setup and remove core trading functions from other projects, such as “blockchain research, consulting, and NFT efforts.” Solid financials back Bithumb, and its upcoming IPO is seen as a strategic step toward greater transparency. The move comes as the company works to rebuild trust following past controversies, including investigations into former executives over allegations of fraud and embezzlement. Bithumb remains under regulatory scrutiny Despite a few recent wins, Bithumb remains under intense regulatory scrutiny. South Korea enforces some of the world’s strictest crypto regulations , where violations can result in severe penalties. In the first half of 2025, Bithumb was warned about potential regulatory suspension due to Know Your Customer (KYC) regulations. The Financial Services Commission had to develop a countermeasure for over 400 suspected user accounts. That backdrop has pushed many smaller Korean crypto exchanges out of the business. Only two big players remain in the country: Bithumb and Upbit. International exchange players like Binance also encountered challenges from the authorities, and the tight data privacy law proved difficult to sidestep. KEY Difference Wire helps crypto brands break through and dominate headlines fast

20 May 2025, 02:55

Chart Decoder Series: RSI – The Easiest Way to Spot Overbought and Oversold Markets

Welcome back to the Chart Decoder Series, where we break down the world of technical analysis into tools you’ll actually use. In our previous entries, we covered moving averages and MACD , great for identifying trends and momentum. Now let’s look at RSI , a tool many traders use to time their trades with better confidence. What is RSI? RSI stands for Relative Strength Index. It helps you see if a coin has been bought or sold too much recently and might be ready to reverse. It’s plotted as a line that moves between 0 and 100. Most traders use it with a 14-period setting. Depending on your chart’s timeframe, this could mean 14 days, 14 hours, or even 14 minutes. Unlike price-following indicators, RSI doesn’t just track where price is. It tells you how extreme recent buying or selling pressure has been . That way, you can figure out if the market’s about to flip before it actually does. How to Read It: RSI above 70 = Overbought → Market may be due for a correction RSI below 30 = Oversold → Market may be due for a bounce RSI between 40–60 = Neutral → No strong signal Example in Action: RSI (Purple Panel): Overbought Alert RSI is sitting above 70 , signalling classic overbought conditions . This suggests that Bitcoin’s recent bullish run may be losing steam or approaching a natural correction. What Traders Are Watching: RSI dropping back below 70 could mean a pullback is starting. If BTC remains strong, RSI might stay overbought. This is a behavior common in strong uptrends but also a risky zone for late buyers. For better accuracy, use RSI together with MACD and Moving Averages to make more informed decisions. MACD : Bullish, but Momentum Slowing? MACD Line (Blue): 4,142 Signal Line (Orange): 3,536 Histogram: Positive but starting to flatten, hinting that momentum is slowing down . The MACD remains bullish with the blue line comfortably above the orange, but keep an eye on that histogram. If those bars start to shrink, it’s often the first clue that bullish momentum is fading. Moving Averages : Is BTC Overextended? 50-Day EMA (Yellow Line): 92,570 200-Day SMA (Blue Line): 91,673 BTC is trading well above both these critical moving averages, which confirms the strength of the current uptrend. But this also raises a flag: Is the market overstretched? When price pulls too far away from these averages, a healthy correction often follows, bringing price back toward the 50 EMA , a level many traders view as dynamic support in a bull market. Final Takeaways: Should You Act Now or Wait? Current Trend: Strongly bullish but potentially overextended. RSI: In overbought territory, exercise caution. MACD: Still bullish, but showing early signs of slowing momentum. Strategy: If you’re already in profit, this is a great time to consider securing gains or tightening your stop-losses. If you’re waiting to enter, watch for a pullback toward the 50 EMA for a stronger, lower-risk entry point. Pro Tips for Using RSI Like a Pro RSI is simple, but using it well is where it really counts. Here’s how experienced traders make the best of RSI: Understand Market Context RSI works beautifully in sideways or ranging markets , where price bounces between support and resistance. But in strong trends (like a bull run), RSI can stay overbought or oversold for weeks. So don’t hit that sell button just because RSI hits 70. Look at the bigger picture first. Combine It with Other Indicators RSI works best when it’s part of the conversation. Try pairing it with: MACD to check if momentum agrees with what RSI is telling you. Moving Averages (like the 50 EMA) to see if price is stretched too far from key support levels. Watch for Divergence If price makes a new high , but RSI doesn’t? That’s called bearish divergence , momentum could be slipping. If price makes a new low , but RSI doesn’t? That’s bullish divergence , a bounce might be around the corner. Divergence doesn’t always play out immediately, but it’s one of those clues that serious traders don’t ignore RSI Is an Early Indicator, Not a Direct Call to Action Just because RSI is flashing overbought or oversold doesn’t mean you need to rush into action. Use it as an early warning, not as a reason to panic-buy or panic-sell. Play with Timeframes to Refine Your Strategy RSI readings change based on the timeframe you’re looking at. If the daily RSI shows overbought , but the 1-hour RSI is cooling off , this often means the market is in a short-term pullback within a larger uptrend. Smart traders use this to their advantage, waiting for the short-term RSI to reset before jumping back into the larger trend. This approach helps you avoid chasing tops and gives you better, lower-risk entry points. Always check multiple timeframes before making your move. See RSI in action Coming soon in Chart Decoder Series: Bollinger Bands – How to Trade Volatility Like a Pro Bitfinex. The Original Bitcoin Exchange. The post Chart Decoder Series: RSI – The Easiest Way to Spot Overbought and Oversold Markets appeared first on Bitfinex blog .

20 May 2025, 02:37

XRP Dominates Korean Trading with 13.67% of Upbit’s $20.48 Billion Volume

According to recent data from CoinGecko, reported on May 20, Upbit has witnessed a remarkable trading volume of $20.48 billion within a 24-hour period. Notably, the XRP/KRW trading pair has

20 May 2025, 02:32

Binance Seeks Arbitration for Class Action Lawsuit, Citing Waived Rights in Terms of Service

Binance faces significant legal scrutiny as it seeks arbitration for a class-action lawsuit, emphasizing its terms of service to shield itself from litigation. The exchange contends that its updated terms