📊 Ether and bitcoin derivatives traders are losing confidence in the potential for higher prices, analyst says

According to The Block's Data Dashboard, implied volatility (IV) for ether ATM options has dropped from over 88% to a current IV of around 60% for one week, one month and multi-month expires. IV for bitcoin ATM options for the same expiry ranges has also fallen, from a mid-month high of over 77% to a current reading of below 51%.

Source

https://www.tg-me.com/Crypto Market Time/com.CryptoMarketTime

💰 Celsius Network burns entirety of its CEL holdings, eliminating 94% of total supply

Celsius Network burned its CEL holdings, representing the majority of the token supply, on April 30. Etherscan indicates the company burned 652.2 million CEL by sending it to a null address. The burned amount represents 94% of the previous total supply, which amounted to 692.8 million CEL, valued at roughly $83.2 million at current market price. The transaction originated from a wallet controlled by Celsius, based on Arkham Intelligence data.

Source

https://www.tg-me.com/Crypto Market Time/com.CryptoMarketTime

🟠 Binance co-founder Changpeng Zhao says crypto industry has 'entered a new phase'

Binance co-founder Changpeng Zhao, commonly known as CZ, expressed his thanks to his supporters following his sentencing to four months in prison over breaking compliance rules. Zhao was sentenced in Seattle on Tuesday after pleading guilty to anti-money laundering violations. He has also agreed to pay a $50 million fine. The former Binance CEO said that he plans to spend the next chapter of his life on education, where he has started a project called Giggle Academy.

Source

https://www.tg-me.com/Crypto Market Time/com.CryptoMarketTime

💰 Jito becomes largest protocol on Solana with $1.4 billion in TVL

Liquid staking and MEV infrastructure project Jito has become the largest protocol on Solana, with $1.4 billion in total value locked. At the equivalent of around 10 million SOL, Jito accounts for some 38% of the Solana ecosystem’s $3.7 billion TVL, according to DeFiLlama data. Staking protocol Marinade is second with $1.37 billion in TVL, followed by Kamino, Raydium, and Marginfi at $1 billion, $613 million, and $424 million, respectively.

Source

https://www.tg-me.com/Crypto Market Time/com.CryptoMarketTime

💰 Marathon Sets New Record by Mining Bitcoin’s Largest Block, Showcasing the Logos’ Manifesto

Marathon has once again set a milestone by mining the largest block ever recorded on the Bitcoin blockchain. Namely, block 841,886, showcased a manifesto of a decentralized technology initiative called Logos, featuring just four transactions with the manifesto. For their efforts, Marathon’s mining pool earned a reward of 3.16977148 BTC, including 0.04477148 BTC, or $2,654.55, collected in transaction fees.

Source

https://www.tg-me.com/Crypto Market Time/com.CryptoMarketTime

💰 BTC-e crypto exchange operator pleads guilty to money laundering in the 🇺🇸 U.S.

Alexander Vinnik, a Russian national who operated the crypto exchange BTC-e, pled guilty to charges of money laundering conspiracy in the US on May 3, according to a Bloomberg report. BTC-e was one of the world’s largest crypto exchanges between 2011 and 2017. According to the prosecutors, it processed transactions worth $9 billion and had a customer base of over 1 million worldwide. The prosecutors added that BTC-e was used by cyber criminals to transfer, launder, and store criminal proceeds from illegal activities.

Source

https://www.tg-me.com/Crypto Market Time/com.CryptoMarketTime

💰 Bernstein’s Bitcoin Price Prediction of $150K Reaffirmed by Analysts

Analysts at investment research firm Bernstein have reaffirmed their prediction that bitcoin (BTC) would hit $150,000 in this bull cycle despite the asset’s retracement in recent weeks. According to a recent report, Bernstein analysts Gautam Chhugani and Mahika Sapra said Bitcoin metrics show the network is in a healthy cycle still in its early stages. Notwithstanding the latest dip, the leading cryptocurrency is far from done.

Source

https://www.tg-me.com/Crypto Market Time/com.CryptoMarketTime

💰 Two Big Bitcoin Catalysts Could Drive MicroStrategy Stock Gains, TD Cowen Says

Bitcoin (BTC) has significant upside potential this month thanks to two big catalysts and Michael Saylor's MicroStrategy (MSTR) stock could surge, too, on its way toward getting "meaningfully higher" by the end of the year, TD Cowen analyst Lance Vitanza said in a note Monday. MicroStrategy reported a net operating loss of $53.1 million for the first quarter of 2024 after taking a digital asset impairment charge of $191.6 million.

Source

https://www.tg-me.com/Crypto Market Time/com.CryptoMarketTime

💰 Bitcoin’s April plunge leads to $2.92 billion in spot outflows

Bitcoin faced massive selling pressure in April 2024, recording its most significant monthly decline of 15% since November 2022, when it dropped over 16%. CryptoSlate previously analyzed the factors contributing to the dip, finding that the conclusion of the US tax season, compounded by various economic factors, prompted the sell-off. However, Bitcoin rebounded most of its losses in April and May.

Source

https://www.tg-me.com/Crypto Market Time/com.CryptoMarketTime

🪙 Proposal for Grayscale's Ethereum Futures Trust ETF has been withdrawn

A proposal to list and trade shares of Grayscale's ether futures exchange-traded fund has been withdrawn, according to a new document filed on Tuesday. The application for the Grayscale Ethereum Futures Trust ETF, which was filed by NYSE Arca, Inc., in September last year, was withdrawn on May 3, according to a Securities and Exchange Commission filing.

Source

https://www.tg-me.com/Crypto Market Time/com.CryptoMarketTime

🪙 Vitalik Buterin proposes EIP-7702 aiming to refine account abstraction on Ethereum

Ethereum co-founder Vitalik Buterin, together with co-authors Sam Wilson, Ansgar Dietrichs, and Matt Garnett, have proposed Ethereum Improvement Proposal (EIP) 7702 as an alternative to EIP-3074, aiming to refine account abstraction on the Ethereum network. EIP-7702 suggests a novel transaction type that enables externally owned accounts (EOAs) – normal Ethereum account addresses – to temporarily function as smart contract wallets during a transaction, with their original state restored afterward.

Source

https://www.tg-me.com/Crypto Market Time/com.CryptoMarketTime

⚪️ Robinhood's Q1 Crypto Trading Volume Surged 224% as SEC Action Looms

Robinhood (HOOD) saw a first-quarter notional crypto trading volume of $36 billion, up 224% from year-ago levels. That led to a 232% increase in crypto-related a revenue to $126 million, a primary factor, said the company, in driving overall first quarter transaction-based revenue up 59% year-over-year to $329 million.

Source

https://www.tg-me.com/Crypto Market Time/com.CryptoMarketTime

📊 Crypto Monthly Trading Volume Drops for First Time in Seven Months to $6.58T

Cryptocurrency trading volume cooled in April, registering the first decline in seven months as escalating geopolitical tensions and slower inflows into U.S.-listed spot ETFs weighed over the digital assets market. The cumulative volume in spot and derivatives markets fell by 43.8% to $6.58 trillion, a sharp retracement from March’s record high of $9.12 trillion, according to a report by London-based digital assets data provider CCData.

Source

https://www.tg-me.com/Crypto Market Time/com.CryptoMarketTime

🇳🇬 Nigeria claims 🟠 Binance’s bribery allegations are ‘blackmail’

The Nigerian government has refuted bribery allegations made by crypto exchange Binance, which were described as baseless and an attempt to distract from the company’s legal challenges in the country, according to a press statement released on May 8. Binance CEO Richard Teng recently alleged that Nigerian officials demanded $150 million in crypto to settle an ongoing criminal investigation against the company.

Source

https://www.tg-me.com/Crypto Market Time/com.CryptoMarketTime

💰 Bitcoin Advocate Says ASIC Devices’ Inflexibility Makes AI Involvement Unlikely for Bitcoin Miners

According to Joe Downie, the chief marketing officer at Nicehash, bitcoin miners struggling to stay afloat after the halving are unlikely to support or become involved with artificial intelligence (AI). This is because their application-specific integrated circuit (ASIC) miners now “only allow for mining on one algorithm.” Furthermore, Downie argued that bitcoin mining devices are not “designed for flexibility,” and hence, they cannot be used to support AI infrastructure.

Source

https://www.tg-me.com/Crypto Market Time/com.CryptoMarketTime

🪙 Ethereum transaction fees hit record low as Layer-2 networks siphon activity

The average transaction fee on Ethereum has reached record lows as more activity moves to the Layer-2 (L2) networks on the chain. According to Ultrasound.money data, the average gas has dropped to 4.81 Gwei — the lowest level since the network completed the Merge event in 2022. Market observers attributed this decline to increasing activity on L2 networks following the completion of the Dencun upgrade. The Dencun upgrade significantly reduced fees for L2 networks, making transacting on the base layer less attractive.

Source

https://www.tg-me.com/Crypto Market Time/com.CryptoMarketTime