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Bitcoin rises 1.5%, Ethereum breakthrough at $5,000 and
New York City, NY, May 17, 2024 (GLOBE NEWSWIRE) —
The cryptocurrency market is abuzz as Bitcoin surges 1.5%, signaling strong momentum for the leading cryptocurrency. Meanwhile, Ethereum is on the verge of a significant breakthrough, with analysts predicting that it could soon reach the $5,000 mark. Amidst these developments, a new and captivating player, Furrever token, is emerging as a potential game-changer in the crypto space. Combining the allure of feline-themed content with blockchain technology, Furrever Token offers a unique investment opportunity with the promise of astronomical returns. As Bitcoin and Ethereum continue to grab headlines, don’t overlook the irresistible allure and innovative potential of the Furrever Token, the next big thing in cryptocurrency.
Bitcoin Rises 2%: Institutional Investments in Bitcoin ETFs Skyrocket
Bitcoin (BTC) is currently trading at around $65,738.46, up nearly 2% from yesterday. Over the past week, more than 600 companies have disclosed substantial investments in Bitcoin spot exchange-traded funds (ETFs) in their 13F filings with the U.S. Securities and Exchange Commission (SEC).
According to archival data, professional investment firms reported holding $3.5 billion worth of Bitcoin ETFs. Major players include Morgan Stanley, JPMorgan, Wells Fargo, UBS, BNP Paribas, Royal Bank of Canada, and hedge funds such as Millennium Management and Schonfeld Strategic Advisors.
Millennium Management leads the pack with $1.9 billion invested in various Bitcoin ETFs, including BlackRock’s iShares Bitcoin Trust (IBIT) and Fidelity’s Wise Origin Bitcoin Fund (FBTC). Schonfeld Strategic Advisors follows with an investment of $479 million, primarily in the BlackRock and Fidelity funds. Boothbay Fund Management and Pine Ridge Advisers also declared significant holdings in spot Bitcoin ETFs.
Morgan Stanley stands out with a $269.9 million investment in Grayscale Bitcoin Trust (GBTC), making it one of the largest holders. Other notable investors include Aristeia Capital, Graham Capital Management, CRCM and Fortress Investment Group, each with substantial investments in IBIT.
Spot Bitcoin ETFs, launched in January, saw massive demand in the first three months. Despite the recent slowdown in inflows, sustained interest from hundreds of financial institutions highlights growing institutional confidence in Bitcoin’s potential. As the price of Bitcoin continues to rise, these substantial investments highlight the growing mainstream acceptance and adoption of the leading cryptocurrency.
Ethereum’s potential surge amid anticipation of SEC decision
Ethereum (ETH) is currently trading at around $2,950.80, down 0.5% from yesterday, but is poised for a potential near-term bullish rally after a five-day stagnation. This momentum is fueled by discussions of declining revenue on the ETH mainnet and the SEC’s impending decision on ETH spot ETFs.
Opinions are divided on the SEC’s verdict on VanEck’s ETF spot filing, due May 23. ETF Store’s Nate Geraci believes a rejection is unlikely, citing past approvals of ETH futures ETFs and the removal of staking options. However, some speculate a denial due to ongoing investigations into Ethereum’s security classification.
SEC review began in April 2023, but ETH futures ETFs were approved in September, highlighting regulatory complexity. Ethereum now aims to surpass $3,000, facing resistance at $3,103 and $3,161. Short-term bullish sentiment is evident, with ETH long liquidations decreasing, open interest rising to 1.97%, and anticipation of more price volatility ahead of the SEC’s decision.
Furrever Token: Analysts Predict the Next Big Thing in the Cryptocurrency Industry
Furrever Token (FURR) is capturing the attention of the cryptocurrency world, and analysts predict it could be the next big thing. Built on the BNB-20 blockchain, Furrever Token stands out by combining blockchain technology with the universal appeal of cute cat images. This unique approach transforms everyday crypto interactions into delightful experiences, with charming cat-themed stickers, emojis, and images enhancing user engagement.
One of the main features that spark interest in Furrever Token is its engaging community challenges. These regular events encourage users to share their love of cuteness and participate in fun activities, fostering a warm and inclusive community atmosphere. The project also promises future exclusive content, ensuring the community remains excited and engaged with new and delicious surprises.
Security and compliance are top priorities for Furrever Token. The smart contract has been vetted by Securi Lab, providing a secure and reliable platform for all users. Additionally, the team’s tokens are locked for one year, demonstrating commitment to the longevity and stability of the project.
Furrever Token’s impressive tokenomics includes a total supply of 9 billion tokens, with 65% allocated for pre-sale, 25% for DEX allocation, and 10% for the team. The pre-sale has already raised over $1.1 million, nearing the end of its stages and aiming to raise $1.9 million. With a current price of $0.000648, Furrever Token offers an attractive entry point for investors.
Additionally, Furrever Token has launched a contest for the highest total purchases of $20,000, where 10 lucky winners will share the prize. The competition will run until May 27, 2024, providing an additional incentive for new investors to join the community.
Furrever Token has achieved organic growth with nearly 4,000 members in its active Telegram channel. This growing community and the project’s innovative approach positions Furrever Token as a promising investment opportunity, fusing the allure of cats with the cryptocurrency’s potential for unparalleled rewards. Don’t miss the chance to be part of this lovely revolution in the world of cryptocurrencies!
Join the Furrever token presale now:
Official website of the Furrever token
Enter the $20,000 Furrever Token Giveaway
Join the official Telegram group
Follow the official X account
Media contact:
Roberto Smith
https://furrevertoken.com/
support (at) furrevertoken.com
Disclaimer: The information provided in this press release does not constitute a solicitation for investment, nor is it intended as investment advice, financial advice or business advice. We strongly recommend that you practice due diligence, including consulting with a professional financial advisor, before investing in or trading cryptocurrencies and securities.
