Cryptocurrencies Price Prediction: Ethereum, Bitcoin & Meme Coins — Asian Wrap 06 June

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Ethereum open interest surges by 50%, SEC Chair says ETH ETF launch will take more time

Ethereum (ETH) price hovered around $3,860 on Wednesday following Securities & Exchange Commission (SEC) Chair Gary Gensler expressing his opinion that the launch of spot ETH ETFs may be delayed. Meanwhile, Ethereum derivatives products on exchanges have seen a surge in open interest (OI).

Bitcoin ETFs set for new wave of adoption as Marathon Digital sells portions of its mined coins

Bitcoin (BTC) hit $71,000 on Wednesday as Marathon Digital revealed it sold almost 63% of the coins it mined in May. Meanwhile, US spot Bitcoin ETFs continue to set new records.

Ethereum's Buterin suggests new framework for celebrity meme coins

Following the recent craze surrounding celebrity meme coins, Ethereum co-founder Vitalik Buterin highlighted approaches he believed would be safer when launching these tokens. This follows a post suggesting rapper Iggy Azalea's MOTHER token may be showing potential amid criticism surrounding other celebrity meme tokens.

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Avalanche struggles near $12 as Grayscale files updated form for ETF

Avalanche trades close to $12 by press time on Wednesday, extending the nearly 2% drop from the previous day. Grayscale filed an updated form to convert its Avalanche-focused Trust into an ETF with the US Securities and Exchange Commission.

Bitcoin slips below $87,000 as ETF outflows intensify, whale participation declines

Bitcoin price continues to trade around $86,770 on Wednesday, after failing to break above the $90,000 resistance. US-listed spot ETFs record an outflow of $188.64 million on Tuesday, marking the fourth consecutive day of withdrawals.

Michael Selig assumes role as new CFTC Chair, what does this mean for crypto?

Michael Selig has been sworn in to serve as the 16th Chairman of the Commodity Futures Trading Commission. Selig was confirmed by the US Senate to head the commission last week, following his October nomination by the US President Donald Trump.

Crypto.com hires sports trader for event prediction market-making

Crypto.com plans to recruit a quant trader for the sports market-making team to buy and sell financial contracts related to these events. Opponents argue that internal trading desks put operators or their affiliates on the opposite side of customer trades.

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Bitcoin: Fed delivers, yet fails to impress BTC traders

Bitcoin (BTC) continues de trade within the recent consolidation phase, hovering around $92,000 at the time of writing on Friday, as investors digest the Federal Reserve’s (Fed) cautious December rate cut and its implications for risk assets.

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