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The macro environment remains a key driver for crypto performance, evidenced by the rebound in bitcoin prices after April’s softer CPI print, a Coinbase report said.
Bitcoin is dishing out the bull signals on lower timeframes, but can BTC price action overcome key resistance?
Coinbase analyst David Han said the market may be “underestimating” the timing and odds of a potential spot Ethereum ETF approval.The mismatch leaves room for “surprises to the upside,” with no major sources of supply-side overhangs, he added.
Telegram CEO Pavel Durov appeared to endorse the viral web3 clicker game Notcoin following its token launch on the TON blockchain yesterday. Notcoin is an “amazing success story,” reaching “almost $700 million in market capitalization,” Durov wrote in his Telegram channel.
Synthetix’s decentralized stablecoin, sUSD, fell below its $1 peg — reaching as low as $0.92 due to increased selling on decentralized exchanges. The price later recovered slightly to $0.96. Chaos Labs identified that the de-pegging was triggered by a major liquidity provider withdrawing from the sBTC/wBTC liquidity pool on the Curve.
Bitcoin is holding above the $66,000 mark, despite a downturn in Asian and European stocks, and U.S. stock futures.
- 00:12Data: Large amounts of PYTH, AVAX, 1INCH and other tokens will be unlocked this weekAccording to Token Unlocks data, six projects will undergo large one-time token unlocks this week, totaling over $1.1 billion. Among them: Pyth Network will unlock 2.13 billion PYTH tokens at 22:00 Beijing time on May 20, accounting for 141.67% of the circulating supply, worth approximately $812 million. Avalanche will unlock 9.54 million AVAX tokens at 08:00 Beijing time on May 22, accounting for 2.49% of the circulating supply, worth approximately $340 million. SPACE ID will unlock 18.49 million ID tokens at 08:00 Beijing time on May 22, accounting for 4.29% of the circulating supply, worth approximately $14.26 million. 1inch will unlock 21,430 1INCH tokens at 16:00 Beijing time on May 23, worth approximately $8,520. Euler will unlock 64,000 EUL tokens at 00:17 Beijing time on May 24, accounting for 0.34% of the circulating supply, worth approximately $36,100. Acala will unlock 4.66 million ACA tokens at 08:00 Beijing time on May 25, accounting for 0.48% of the circulating supply, worth approximately $507,000.
- 2024/05/19 23:56The number of new Bitcoin wallets has dropped to its lowest level since 2018According to data from The Block, the seven-day moving average of new addresses on the Bitcoin network was close to its historical high six months ago, but has now fallen to its lowest level since 2018. Over the past week, an average of only 275,000 addresses were added to the Bitcoin network each day, compared with 625,000 six months ago.
- 2024/05/19 23:56The SEC will make a decision on the spot EthETF this weekAccording to Golden Finance, Nate Geraci, President of ETF Store, stated on platform X that the SEC will make a decision on spot EthETF this week. The SEC must approve 19b-4s (exchange rule changes) and S-1s (registration statements) before an ETF can be launched. Technically speaking, the SEC could approve 19b-4s and then slow down the execution speed of S-1s (especially considering reported lack of participation here).
