After the approval of Bitcoin ETFs, Bloomberg expects Ethereum ETFs to follow. How has the market reacted?
These are festive days for crypto enthusiasts, marked by much positive news. Following the approval of Bitcoin ETFs yesterday evening, many now anticipate EthereumETFs. This may be why its price has surged in recent hours.
What will happen in the coming days? Will the anticipated spot ETFs on Ethereum in May arrive? Find out all the latest news on this topic in this article!
Ethereum ETFs: Are They Coming Soon?
According to Eric Balchunas, one of the world’s leading ETF experts, there’s a 70% chance that Ethereum ETFs will arrive. This may be why the SEC’s announcement initially positively impacted Ethereum’s price more than BTC. The most capitalised crypto in the market had already partly priced in the event, although in the last hours, it’s recording a +9% increase compared to yesterday.
In any case, the long-term outlook for the entire market is optimistic; the bear market is officially over, and large investment funds are ready to inject significantamounts of money to offer their “brand new” financial instruments.
The first helpful deadline for Ethereum ETFs, which could grant another victory to the crypto world, is May 23rd. We will see if the SEC and its chairman, Gary Gensler, will set aside their reservations about the crypto created byVitalik Buterin.
The Impact on Charts of ETF Approval
Those expecting a tumultuous price movement immediately after the ETF approval might be disappointed; Bitcoin’s value in the hours following the announcement remained between $44,500 and $47,000. It’s probably because the whole world expected an affirmative response from the SEC. The situation changed after trading on the ETFs began, which recorded more than 2 billion in volumes in a few minutes. Bitcoin has reached nearly $49,000 and now seems intent on reaching the crucial level of $50,000.
However, Ethereum’s rally started earlier. Probably thanks to the words of Bloomberg analyst Eric Balchunas and other commentators on the Ethereum ETFs. The crypto broke through the $2,400 support and reached $2,600 overnight.
The current scenario in which Bitcoin’s price action is placed could further improve thanks to the entry of investment funds. According to estimates by Chartered Bank, BlackRock, VanEck, and Microstrategy, from 40 to 100 billion in the next four years.
The fact that Bitcoin’s price didn’t react super explosively to the announcement could also be an opportunity for retailers, especially those with a strategy to protect themselves from volatility. Our strategy is recurring purchases involving tiny, regular purchases over time; try it in the Moneybox section of our app!
One question remains: when did the trading of ETFs officially begin? These financial instruments are available on three exchanges: The New York Stock Exchange (NYSE), NASDAQ, and the Chicago Board Options Exchange (CBOE).
Trading on the most famous, BlackRock’s iShares Bitcoin Trust listed on NASDAQ, began a few hours ago, while for the Galaxy Bitcoin ETFby Invesco, available on the CBOE, it was already possible to set purchase orders from last night. The volume counter generated by these financial instruments has gone crazy; at the time of writing, more than 2 billion dollars in spot ETFs on Bitcoin have already been traded.
These are all the latest essential news on ETFs on Ethereum and Bitcoin. Continue following our blog so you do not miss any updates.
The approval for Bitcoin spot ETFs has finally arrived. Here’s everything you need to know. When will trading begin?
The Bitcoin spot ETFs have been approved over six months since BlackRock’s approval request, followed by those of many significant American investment funds.
A few minutes ago, the SEC announced that these financial instruments meet the guidelines. Here are all the details on the approval of the Bitcoin spot ETFs. When will trading of these financial instruments begin, and what will happen to the price of BTC?
Impacts of the approval
The approval of the Bitcoin spot ETFs, widely anticipated in recent months, has finally arrived today, January 10, 2024.
The SEC has approved the applications of ARK 21Shares, Invesco Galaxy, VanEck, WisdomTree, Fidelity, Valkyrie, BlackRock, Grayscale, Bitwise, Hashdex, and Franklin Templeton. The document is available on the SEC’s website.
New institutionalplayers will now be able to offer Bitcoin to their clients, radically changing the perception of the leading cryptocurrency and the entire sector. This development opens up new possibilities based on a more robust image and a positiveperception from the general public. Inevitably, the rest of the crypto industry will benefit from this change and the exposure to a new public segment, introducing alternative dynamics.
The crypto world expects the most significant influx of capital in its history. According to some estimates, between 100 and 300 billion dollars could enter the market in the next four years thanks to these financial instruments. If this happens, the impact on the price of Bitcoin will be, to say the least, explosive.
You can now buy, sell, and hold TIA on Young Platform! Learn about this innovative project and the purpose of its token!
Celestia: everything you need to know
Celestia is a distinct modular blockchain infrastructure designed to enhance the scalability and flexibility of networks developed on it.
TIA serves a dual purpose as both a utility and governance token. It’s essential for paying fees on the network and the Layer 2 platforms that will be developed in the upcoming months, and it’s also vital for participating in protocol governance votes.
The project, launched in October 2023, began with its prototype in 2019. The founding team includes Mustafa Al-Bassam, CEO and co-founder of Chainspace (acquired by Meta), Ismail Khoffi, John Adler, and Nick White. Celestia raised $55 million across two distinct funding rounds, earning it the status of a unicorn startup (valued at over $1 billion). Its venture capital supporters include prominent names like Coinbase Ventures, Jump Crypto, Placeholder, Galaxy, and Delphi Digital.
Interested in Learning More?
Delve deeper into Celestia in the Academy.
How to Use TIA on Young Platform
Explore the full range of features for Celestia (TIA) available on Young Platform and Young Platform Pro:
Buy and sell with EUR
Set up recurring purchases
Deposit from another wallet or send via the Celestia network
Starting today, you can buy a new cryptocurrency on Young Platform: learn about Render (RNDR)!
From now on, you can buy, sell, and store RNDR on Young Platform! Learn how this innovative project works and what the token is used for to decide if it’s right for you!
Render: everything you need to know
Render Network is a unique protocol in its field, as well as one of the fastest-growing blockchain platforms currently.
It is built on Ethereum and leverages blockchain technology to democratise access to the necessary resources, predominantly graphics cards (GPU), for content rendering.
RNDR serves both as a utility and a governance token: it is essential for accessing the platform’s decentralised rendering service as well as for participating in voting on the future of the protocol.
The project, created in 2017 by Jules Urbach, then CEO of OTOY, a company specialising in rendering and computer graphics, stems from an ambitious idea: to use blockchain technology to revolutionise graphic rendering.
Want to learn more? Dive deeper into Render Network on Academy!
How to use RNDR on Young Platform
Here are all the features available for Render (RNDR) on Young Platform and Young Platform Pro:
Buying and selling with EUR
Recurring purchase
Deposit from another wallet or send through the Ethereum network
Step’s evolution into a crypto game continues: discover the new Hub and Journey, with new challenges and lessons
Last summer we introduced the first elements of Step 3.0: levels, profile and experience points.
Today the crypto game takes another important evolutionary step. In a nutshell, in the Home you will find a guided path to discover cryptos (and more). But let’s go step by step, and delve into all the new features.
The Journey
You will find an entirely new Home, which will guide you through the blockchain maze, showing you the way.
You will be the protagonist of a futuristic journey, for which you only need two things: a great deal of curiosity… and downloading the Step update!
You will be teleported on a path that is first gentle and then gradually more challenging: you will start as a Newbie, then become Analyst and finally Master.
During this adventure you will develop various skills and habits such as walking, analysing markets and acquiring new knowledge.
It doesn’t matter if you already know Web3 like the back of your hand, or if you’ve never heard of it, in the ‘Education’ challenges you will find both the basics andtrivia and insights into crypto. All of this, in highly digestible pills.
Missions
On the way, you will meet a robot who will reveal a secret to you: if you take a little detour, you can accumulate extra XP and YNG. Just follow the signs for Missions.
You may have already used them, in fact they have been live for quite some time now, but we have not yet given them the recognition they deserve. On the other hand, the Step community has appreciated them very much and we are very happy about that.
For those unfamiliar with them, they are events lasting a few weeks, which allow you to win YNG if you complete all the required Quests.
Try them, we’re sure you’ll enjoy them. It’s not over yet, continue below to find out how we rearranged Step.
Hub and navigation
We have not forgotten about seasonal cleaning and renovation: user experience is crucial and we always keep an eye on it.
Thus the Step sections became three, making the app more essential, but at the same time richer.
The Home section is dedicated to the Journey, and there you will always find your personal achievements and profile.
Missing the old features? You can find them all in the Hub. Here you can redeem steps, make forecasts and complete Quests also outside the Journey, in the order you want.
On the right hand side you will find ‘Explore‘, where you can read and view lots of new content by endlessly scrolling. Read market news, watch in-depth videos, or brush up on theory.
That’s all for now. In the meantime, we are excited to hear what you think of these new features. For our part, we will never stop improving Step by following the advice of the community and will accept all kinds of comments.
The real journey? Building Step together, so that it may stay the most effective and fun way to learn about cryptocurrencies!
From today, a new crypto is available on Young Platform: find out all about the listing of Lido DAO (LDO)!
Now you can finally buy, sell and store Lido DAO (LDO) on Young Platform. Check out the main features of this DeFi project and its crypto, to find out if it’s right for you!
Lido DAO: all you need to know
Lido is among the leading projects in the DeFi landscape today, as the most widely used liquid staking protocol for Ethereum.
In a nutshell, thanks to Lido, it is possible to stake ETH or MATICs and receive tokens in return that can be used on the most popular DeFi services, including DEXs and Yield Farming platforms.
LDO, on the other hand, is the governance token: itmeans that whoever owns it can vote in the decisions that govern the operation of the protocol. At the time of writing, the token ranks 35th by market capitalisation.
Also thanks to its token, Lido DAO is a particularly decentralised service, being governed precisely by a DAO. The latter is a decentralised autonomous organisation, which enables the management of a project in an automated and participative manner.
The project stems from the desire to solve the limitations of ETH staking, which were particularly acute during the run-up to the Merge between 2020 and 2022. Specifically, by some developers and personalities from the Ethereum community such as Stani Kulechov and Jordan Fish (@cobie on Twitter).
The 3 investment rounds that enabled the development of the project were led by Paradigm and a16z. Not only that, the protocol was verified through technical audits by no less than 14 bodies.
One of the community’s most requested features has arrived: the conversion of ‘Dust’ into YNG tokens!
You know when, after a sale, you are left with a few cents of a cryptocurrency, which you will probably never buy again?
Doesn’t it bother you, every time you scroll through your wallet and see a microscopic balance, those pennies you can never sell?
It’s finally time to get rid of them!
From today, those forsaken cents find a utility: you can convert them into YNG tokens with the new Dust feature.
How does it work?
You can convert all cryptocurrencies available on the exchange into YNG. This means that a cryptocurrency is only compatible with the Dust function if you can buy and sell it normally. Consequently, cryptos listed only to support airdrops and delisted cryptos are excluded.
Converting Dust is very easy (and also quite satisfying):
Go to the Wallet section of the app or website
Click on the button ‘Turn small balances into YNG’.
Select the cryptocurrencies you want to convert
Click on ‘Convert’ to complete the procedure and receive YNG.
We know you can’t wait: tidy up your wallet and collect YNG!
Only one person has the right to know what you do online: you. Discover the exclusive offer from NordVPN and the discount just for your Club.
At Young Platform, we are huge advocates for both online security and privacy. We believe that being tracked online is never a pleasant experience, even if you have nothing to hide. That’s why we’ve arranged exclusive discounts—up to 78%—on two-year plans from NordVPN, a global leader in Virtual Private Networks (VPNs).
What is NordVPN?
The main purpose of a VPN is to hide your IP address and allow you to browse privately, even on websites with geographical restrictions.
NordVPN uses a worldwide network of over 8,100 servers in 163 locations—including physical servers in Rome and Milan. But there’s more. All plans also include these services:
Unlimited web access: Explore the internet from anywhere in the world.
Secure browsing: Stay safe even when connected to public Wi-Fi.
Worry-free file sharing: Work or play online with others without a second thought.
Protection from malware, online trackers, and malicious ads.
More advanced plans even include NordPass, a password manager, and NordLocker, an encryptedfile storage service.
In short, NordVPN has thought of everything, so you can browse without a worry in the world, in complete control of your sensitive data.
Exclusive Benefits for Our Clubs
NordVPN offers three packages: Basic, Plus, and Ultimate. Each of these already has a discount available on the official website.
On top of these, Young Platform Clubs add an extra cumulative discount, applicable only to the two-year plans.
By combining the two promotions and including any extra months, you get:
Bronze and Silver: Up to 75% total discount
Gold and Platinum: Up to 78% total discount
How to Apply the Discount
First, join a Club or upgrade to a more advantageous one through the Young Platform app. Then, access the Club section of your account, select the NordVPN benefit, and click “Get code.” You will receive an email from Young Platform with the promo code and instructions for use.
Select the two-year plan and choose your preferred package.
Clicking “Get” takes you directly to the payment page.
Next, enter your email address.
Click on “Have a discount code?“
Enter the discount code you received via email.
Verify that the code has been accepted.
Select a payment method (they even accept cryptocurrencies!).
Complete the payment.
For any issues, you can contact NordVPN customer service at [email protected]. If you are not satisfied with the service, you can request a refund within 30 days.
The third quarter YNG Token report, with an in-depth look at Clubs and the latest news coming soon!
What happened in the last quarter? How many tokens have been issued, bought and sold, what goals have we achieved and what are the next steps? You can find a complete overview in this report, compiled in October 2023.
The numbers of Young Platform Clubs
YNG is Young Platform’s utility token and grants access to Clubs: the subscription plans that offer exclusive benefits dedicated to our biggest supporters.
The Clubs, at the moment, consist of 1400 people, divided into:
1031 for the Bronze Club;
167 for the Silver Club;
121 for the Gold Club;
81 for the Platinum Club.
To join a Club, a certain amount of YNG must be blocked on the Young Platform exchange. The number of registered members is therefore important for analysing the distribution of the token, especially since the more people join a Club, the lower the selling pressure on YNG will be. What is the main consequence? A greater stability of the price of YNG. Since the last report, Club members have decreased by 9% but Platinum members have increased by 11%.
Distribution of the YNG token
The number of YNG in circulation at the end of June was about 22.7 million. The circulating supply at the beginning of October was about 23.1 million, which means that there was a net increase of about 400,000 tokens, or 1.7%.
These tokens were distributed via the Young Platform Step app in different ways:
76,049 through the completion of Quizzes, Quests and Up&Down (prior to the implementation of the levels);
331,830 through the completion of the Levels.
The YNG token market is run through an algorithm that defines the exchange rate by means of two underlying liquidity pools in EUR and YNG respectively. Initially, these pools contained:
1M Euro;
4M YNG.
Considering the token sales and purchases handled in the past months, as of October 2023, the pools contain:
771K Euro;
5.43M YNG.
This configuration is the result of purchases and sales during the third quarter, summarised below together with the price trend:
Goals achieved and next steps
During Q3 2023, we achieved a large number of goals and released as many new features. First of all, we successfully launched and concluded buyback operations, which, together with a modest amount of purchase volume, breathed new life into the Young token (YNG). In addition, our dedicated business services and the tax advice section of the site with expert accountants arrived.
The community section also saw big news! Two new channels were opened: Telegram and WhatsApp, and activity on the Discord server increased. Finally, Club members can be, in part, satisfied; thanks to new benefits in the form of vouchers issued. Here are all the goals achieved during this quarter and the challenges that lie ahead for the next one.
Buyback
The buy-back operations were successfully completed. We purchased a total of €62,000 of tokens through spot trades and then supported the price through limit orders. Young’s (YNG) price increased by 15% from the beginning of July and by 40% from the February lows.
Listing
We are still considering listing the Young token (YNG) on other exchanges. We are currently in negotiations with several centralised exchanges but are also considering opening up to the decentralised market (DEX).
Token tracking (CoinMarketCap and CoinGecko)
The weekly reminders sent to CoinMarketCap and Coingecko have, unfortunately, not produced any more results than those achieved in Q2 2022. We are currently listed as an exchange on CoinMarketCap, while the YNG token appears on CoinGecko, although, for the time being, no exchange volumes are available for both pages. The situation will probably unblock, at least as far as the token is concerned, when we list on another exchange.
Small balances
Spoilers!
By popular demand, a new feature is coming soon, allowing you to convert small crypto balances into Young tokens. This way you can give new life to small amounts of cryptocurrency that you would not use.
Multi Network
This function, although it may seem secondary to some, is very important. Especially for those who intend to geek out with DeFi’s decentralised applications. It will soon be possible to deposit and withdraw Ethereum, USDT and USDC, also via the Arbitrum, Optimism and BSC networks. In this way you will be able to make the most of the opportunities offered by Web3 with very low deposit and withdrawal costs.
In the coming weeks, the Polygon zkEVM and Base networks, Layer 2, developed by Coinbase, will also arrive.
Telegram
We have launched a new Telegram channel! The main objective is to try to counteract the many attempts to defraud our users. In the current group, which is still open but will be permanently closed in a few weeks, malicious actors can view the phone numbers of members who have not specified within the app to be hidden and contact them privately.
Young Platform’s new Telegram channel solves this problem. It is to all intents and purposes a channel (and not a group where the admins are the only ones who can post) and therefore the username and phone number of all members is blacked out.
WhatsApp
We then also ventured into WhatsApp, which introduced Communities. These are larger and more customisable discussion groups than those used to communicate with friends or family. The Young Platform WhatsApp group will, for now, serve the same purpose as the Telegram channel. One more way to learn about all the news concerning our ecosystem and the crypto world.
Discord
Discord is the main place dedicated to our community, featuring a leaderboard where server members are ranked according to the XP (experience points) they possess. This will be used to reward the most active users of the server, those who are most committed to growing our ecosystem. During the quarter just ended, we prioritised other initiatives, but presumably some of the rewards in store for the community will come during this quarter.
We have also created the channel reserved for our biggest supporters, the Platinum Club members, and we are working on creating those for other Club members as well.
Twitter has changed its name, but still remains the main venue for promoting the YNG token. We have, to some extent, strengthened our collaboration with prominent members of the industry, who already support us, and we plan to enter into more. Unfortunately, it has not been possible so far to implement an automatic reward system (via the connection between X and Discord) due to the new policies ofElon Musk’s social network.
On our X profile we post daily content and memes, if you don’t follow us yet you should definitely do so!
In May, we introduced for Italy and France one of the features we are most proud of. We are talking about the ‘Fiscal Report’, a document that simplifies filingcrypto taxes, making it available for download in Pdf format. The Fiscal Report was developed in collaboration with Taxtris and is the first service of its kind offered by an Italian exchange. Please note that the Fiscal Report is discounted for Silver and Gold Club members, and free for Platinum Club members.
Vouchers and Benefits for Clubs
More amazing benefits for Clubs in the form of vouchers arrived in the third quarter of 2023, but this is no time to rest on our laurels. After We Road, a partnership with another famous brand is on the way this week. The theme of the collaboration is privacy, a concept very dear to us; but no more spoilers, at least for now!
Business services
Young Platform’s business services also opened up recently. In recent years, companies are beginning to understand how crypto is key to make their business competitive and scalable,while completing the long needed digital transition.
News on the way!
Finally, two more huge innovations await us in the coming weeks. The first is Young Platform Step, which will see the launch of a brand new education section that will allow users to get YNG in new ways. The second has to do with our exchange, where a feature never seen before in Italy is on the way.
All the key information for considering whether to buy Cosmos (ATOM), available now
Now you can finally buy, sell and hold ATOM on Young Platform. Learn about the key features of this project and the uses of its crypto to find out if it’s right for you!
Cosmos: all the things you need to know
The project was founded in 2017 by two software engineers, Jae Kwon and Ethan Buchman. Its development is supported by the Interchain Foundation, a nonprofit organisation, and the company Ignite (formerly Tendermint). The platform was officially launched in 2019.
What distinguishes Cosmos from most blockchains is its strong interoperability. Indeed, it reminds us of the structure of Polkadot: it is a large ecosystem for simplified development of native blockchains.
In fact, Cosmos more than being a blockchain is an interchain, which is that structure that provides blockchains with a common protocol of operation. Any chain built on Cosmos, therefore, naturally enjoys strong interoperability, scalability and flexibility: you can develop application-specific blockchains without having to worry about developing the fundamental architecture.
One such blockchain is the Cosmos Hub, whose cryptocurrency is precisely ATOM. The token is usable in all other Cosmos blockchains, but it was created specifically for the original Hub.
Other projects built on this platform are Cronos, Kava, Osmosis, ThorChain and soon the new dYdX blockchain.
ATOM crypto can be used in these ways:
To pay transaction fees on the network
To stake themeither as a validator or by delegating
To use itin blockchain and applications built on Cosmos
In the future, it will also be possible to use staked ATOMs, thanks to liquid staking, which is being developed. This will also limit the token’s inflationary pressure, promoting its growth in value. Learn more about how Cosmos works on the Academy!
How to use ATOM on Young Platform?
Here are all the features available for Cosmos (ATOM) on Young Platform and Young Platform Pro:
Buying and selling with EUR
Recurring purchase
Deposit from another wallet or send through the Cosmos network
