🥀May 8: Red Market, SEC Takes New Actions & Fundraising Projects (powered by iCrypto.ai)
🔸 $BTC - In trading session on May 7, ~-$19 million was withdrawn from Bitcoin Spot ETFs, and #Bitcoin is currently hovering ~$62.7k. Most altcoins show a general decline, #Memes and #AI are trying to maintain their current price.
🔸$ETH - The SEC has postponed its decision on the Invesco Galaxy Ethereum SPOT ETF to July 5, 2024. Grayscale unexpectedly withdraws its proposal for an Ethereum Futures ETF, which was intended to persuade the SEC to approve an ETF for Ethereum Spot.
🔸 $FTT - #FTX is expected to distribute assets ranging from $14.5 billion to $16.3 billion. Creditors may receive at least 118% of the compensation demand.
🔸$ERN - Ethernity Chain has launched a Layer 2 Ethereum specialized in blockchainizing brands.
🔸$MODE - Mode Network announces Season 2 and S1 details, and the airdrop claim is now live. The price dropped from 0.17 to 0.05 due to market decline.
🔸 $BLAST - Blast L2 introduces Blast Jackpot.
🔸 $XLM - Stellar has announced a Testnet upgrade to Protocol 21 scheduled for May 14, with a Mainnet vote planned for June 18.
🔸 $ZK - Polyhedra has teased that $ZK Staking is coming soon.
🔸$PEAQ - Layer1 blockchain Peaq Network will launch PEAQ tokens on CoinList from May 9 to May 16.
🔸$ENA - @Ethena Labs jumps 8% as Bybit endorses USDe token as collateral for derivatives trading.
MACRO NEWS
- FED Kashkari suggests that interest rates may remain at current levels longer than market expectations, depending on upcoming data.
- SEC Chairman: After issuing notices to multiple crypto entities, investors did not receive important disclosures.
- The new South Korean leadership will push for Bitcoin ETF trading.
- Crypto trading firm Wintermute to provide liquidity for Hong Kong Bitcoin and Ether ETFs.
FUNDRAISING
- Modular blockchain Lava raises an additional $11M from Animoca Brands, Gate, and others.
- BotanixLabs raises $11.5M from Polychain, Placeholder Capital, and others to develop Bitcoin Layer-2
