Crypto Update

In brief Fold launched its Bitcoin Bonus Program, enabling employers to offer recurring Bitcoin bonuses without custody responsibilities. Steak ‘n Shake became the flagship partner, providing Bitcoin bonuses to over 10,000 hourly workers across its restaurant chain. The B2B program targets mainstream employers beyond crypto-native companies, focusing on large-scale hourly workforces. Bitcoin financial services company…

Ether’s (ETH) 33% rally from its sub-$1,800 multi-year lows appears to be cooling, but several key metrics suggest the top altcoin may be primed for a bigger rally toward $6,000 or higher. Key takeaways: Ether is currently displaying a technical setup similar to past cycles that ignited a massive rally in ETH price.  Supply squeeze…

Key takeaways: US government bail out plans and currency swap lines with the UAE are easing global liquidity fears and lowering credit crisis risks. Record Bitcoin ETF inflows and rising BTC miner profits suggest strong bullish momentum despite the ongoing war in Iran. The total cryptocurrency market capitalization surged to an 11-week high on Wednesday…

Ether (ETH) futures on Binance have risen to a near two-month high as aggressive buyers stepped into the market over the past week. Buy-taker volume rose above $5 billion, and the current setup suggests the ETH rally is poised to continue. On Binance, the 24-hour cumulative net taker volume reached $5.5 billion, rising 72% from…

US-listed spot Bitcoin exchange-traded funds (ETFs) have been gaining momentum amid Bitcoin’s price recovery, showing steady inflows since mid-April. Spot Bitcoin (BTC) ETFs logged $335.8 million in inflows on Wednesday, marking the seventh consecutive day of inflows, according to Farside data. During the inflow streak, the ETFs drew around $1.9 billion in total inflows, surpassing…

Flying Tulip, a decentralized finance (DeFi) platform founded by DeFi developer Andre Cronje, has added a circuit breaker that can delay or queue withdrawals during abnormal outflows, as April DeFi losses climbed amid a string of major exploits.  According to Flying Tulip’s documentation, the mechanism is designed to slow funds leaving the protocol if outflow…