Bitwise Asset Management has filed an application with the U.S. Securities and Exchange Commission (SEC) to launch a spot exchange-traded fund (ETF) tracking the SUI token, according to regulatory documents. The suggested ETF would provide traders with exposure to the price of the native token, SUI, of the Sui Layer 1 blockchain and the returns would be net of operational costs. Coinbase Custody Company is the selected custodian of the fund. The filing failed to reveal the ticker symbol of the ETF and the sponsor fee. Competition Intensifies Around SUI ETFs Bitwise’s move adds to a growing list of asset managers seeking regulated exposure to SUI in U.S. markets. Canary Capital submitted the first SUI ETF application in March, followed by 21Shares, which recently launched the 21Shares 2x SUI ETF, according to regulatory filings. None of the SUI-related ETF applications have received SEC approval so far. SUI currently ranks 31st by market capitalization among cryptocurrencies, based on m...

PENGU outperformed the broader crypto market on Tuesday, staging a short-term rebound after the Pudgy Penguins brand appeared on the Las Vegas Sphere, one of the world’s most prominent advertising venues. The token has been under pressure for most of December, falling more than 18% since Dec. 10 amid a wider market slowdown. That trend briefly reversed after the Pudgy Penguins campaign went live on the LED-covered dome on Dec. 24. From its local low, PENGU climbed roughly 7.5% before giving back some gains. https://twitter.com/pudgypenguins/status/2003870406340760026 At the time of writing, PENGU was still up more than 6% over the past 24 hours, outperforming major cryptocurrencies including Ethereum, BNB, XRP, and Solana, which were largely flat or posted marginal gains of between 0% and 2%. Pudgy Penguins is a digital collectibles brand launched in 2021, best known for its collection of 8,888 uniquely generated penguin NFTs. Despite a cooling NFT market in recent months, the project...

TLDR: The multi-month bullish divergence is an indicator of losing control by the sellers and gaining a prospective extreme reversal of the trend by SHIB. The increasing open interest is an indicator of solid positioning as traders brace up against volatility around the SHIB critical resistance zone. Taker Buy CVD Strengthening indicates long-term buyer action, which promotes early accumulation at the time of SHIB momentum change. Liquidation clusters around $0.0000084–$0.0000087 could fuel upward acceleration if SHIB breaks the resistance levels. The technical indicators of Shiba Inu (SHIB) have shown signs of losing downward momentum as it continues to decline. The recent upward movement of the momentum indicators has indicated a reversal of market control and suggests a change of direction for Shiba Inu. The divergence of the technical indicators from the actual price of Shiba Inu at this time has sparked considerable interest from traders, as it typically develops at th...

The debut of the first-ever XRP spot exchange-traded fund (ETF) on Nasdaq has ignited intense enthusiasm across the digital asset sector. Yet, contrary to widespread expectations of an immediate rally, XRP slipped roughly 8% following the launch an unexpected move for investors anticipating a swift bullish breakout. While the ETF’s inaugural trading session drew strong inflows, analysts noted that the capital was still insufficient to meaningfully influence a cryptocurrency boasting a market valuation exceeding $138 billion. ETF Inflows Reach $245 Million on Launch Day The XRP ETF had about 245 million net inflows and about 60 million trading volume on its listing date. The numbers were a historic watershed in XRP investment products, being the first attention to exceed the initial attention of the BlackRock IBIT and Bitwise BITB, which DrBullZeus of the market observer. The data is in: Canary's #XRP ETF ($XRPC) recorded $245M net inflows day one. That’s MORE than the debut of Bl...