Crypto

Crypto Market Analysis

Crypto Market Analysis | 27 May 2024 

Market Analysis

The ETH price, which was up more than 20% in the past week, fell 4% after the listing approval, mirroring the trend observed after Bitcoin ETF approvals earlier this year. If these ETFs gain approval for trading, we can anticipate a substantial influx of institutional capital. Standard Chartered projects potential inflows of up to $45 billion within the first 12 months.

On Friday, popular meme coins Dogecoin (DOGE) and Shiba Inu (SHIB) saw significant spikes following a tweet from Elon Musk about the passing of Kabosu, the dog that inspired these tokens.

In a notable political development in the US, Donald Trump has announced his full support for crypto and self-custody. This move could help him attract pro-crypto voters.

Disclaimer: Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. The information provided in this post is not to be considered investment/financial advice from CoinSwitch. Any action taken upon the information shall be at the user’s risk.

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