Coinedition

The Altcoin Season Index registered 60, signaling strength in altcoins versus Bitcoin. Bitcoin’s rally is driven by institutional demand, limiting fresh liquidity for altcoins. Altcoins need independent strategies and real-world utility to attract new capital.

HYPE token launch decentralizes Hyperliquid with advanced staking and trading integration. Community rewards and future emissions dominate HYPE’s one-billion-token distribution. HYPE secures Hyperliquid’s consensus, fuels HyperEVM and enhances trading operations.

SEC’s ETP review highlights growing institutional focus on crypto, including XRP. Ripple backs Bitwise XRP ETP, showcasing confidence in XRP’s market potential. BITW’s ETP shift may boost XRP’s role in regulated crypto investment portfolios.

Starknet’s TVL has surged 550% in 2024, reaching $252 million, fueled by the STRK token launch. The DeFi Spring program and diverse protocol participation have driven a 300% quarterly TVL increase. Starknet’s stablecoin market grew 64.1% QoQ, with USDC and USDT dominating over 98% of liquidity.

Hong Kong has publicized plans to widen its tax-exemption net. The recent proposal highlights Hong Kong’s intention to attract more business. Hong Kong aims to expand tax concessions to include crypto investments.

AVAX faces key resistance at $43.81, challenging a potential bullish reversal. A breakdown below $42.00 could push AVAX towards the next support at $40.00. Decreased trading volume signals cautious sentiment, limiting potential price recovery.

WazirX founder announces asset distribution will be in crypto tokens based on users’ holdings. Users can calculate their claims using the Rebalancing Calculator. The restructuring plan aims to resolve outstanding debts and maximize value for users and creditors

Institutional investors are warming up to Ethereum ETFs. Millennium hedge fund accounted for over 2% of the total value of BlackRock’s ETHA. Growing ETF demands lead to surging ETH prices.