Standard Chartered predicts that the second term of the Trump administration will bring positive prospects for the cryptocurrency industry. Although Trump has expressed negative views on cryptocurrencies during his presidency, his attitude has recently changed. He described Bitcoin as "another form of currency" and acknowledged the popularity of cryptocurrencies. This change in attitude will bring a more relaxed regulatory environment to the cryptocurrency market.
Trump himself also expressed his support for cryptocurrencies, saying that the United States will stop its hostility towards cryptocurrencies and embrace cryptocurrencies. This statement will further boost market confidence and attract more investors to enter the cryptocurrency field. Trump's attitude is of great significance to the development of the cryptocurrency market and will provide strong support for the widespread adoption and acceptance of digital assets.
Michael Sonnenshein, CEO of Grayscale Investments, said that the company will focus on spot Ethereum products and focus on converting its Ethereum Trust Fund into a spot ETF product. Although the Ethereum futures ETF application has been withdrawn, it does not mean giving up. The company is still committed to pushing regulators to allow cryptocurrencies to be further included in the regulatory scope.
Grayscale is optimistic about the SEC's attitude and believes that the SEC will make the right decision for investors. Although the attitude of the US SEC is still uncertain, Grayscale Ethereum Trust has submitted a report to the SEC, indicating that they are willing to cooperate with regulators to promote the development of the industry. Grayscale will focus on the development of spot Ethereum products, showing its confidence in the future of Ethereum and the cryptocurrency market. With the continuous development of the cryptocurrency market and the gradual clarification of the regulatory environment, investors are more optimistic about the prospects of cryptocurrency. As an industry leader, Grayscale's strategy adjustment will have an important impact on the entire cryptocurrency market and deserves close attention.
Musk's artificial intelligence startup xAI is expected to receive financing this week at a valuation of $18 billion. This has attracted widespread attention from the market, showing confidence in the future potential of xAI. As artificial intelligence technology continues to develop, investors are optimistic about the prospects of xAI. This also reflects the recognition of Musk's leadership in the field of artificial intelligence, which is expected to further promote the development of xAI and affect the competitive landscape of the entire artificial intelligence industry.
FTX Estate will hold the third batch of locked SOL auctions on May 9, with a total of about 41 million tokens. This means that a large amount of SOL will be unlocked in the market and is expected to have a certain impact on the price. Considering that the auction amount has not yet been announced, market participants need to pay close attention to the results of this auction.
As these locked SOLs are unlocked, the increase in market supply may cause price fluctuations. Investors should remain vigilant, pay attention to market dynamics, and do a good job of risk management. In addition, the unlocked tokens will be issued staking rewards according to the vesting schedule, which will have an impact on market supply and demand.
Wells Fargo's analysis believes that the Fed will not cut interest rates quickly, which will continue to support the strength of the US dollar. Considering that other G10 central banks cut interest rates before the Fed may take action, the widening of the interest rate gap may further boost the US dollar. In addition, next week's CPI inflation data will be the focus of market attention. Although there is no risk of recession in the economy as a whole, the upside of USD/JPY is still optimistic in the short term.
The strengthening of the US dollar will have an impact on global financial markets, including the cryptocurrency market. Investors should pay close attention to the impact of the US dollar trend on cryptocurrencies and adjust their investment strategies in a timely manner according to market dynamics. At the same time, pay close attention to the release of CPI inflation data to obtain more market signals and reasonably seize market opportunities.
As of May 8, the Hong Kong Bitcoin Spot ETF held a total of 4,343 BTC, an inflow of 101 BTC from the previous day, with a total fund management scale of approximately US$269 million.
The U.S. spot Bitcoin ETF had a net inflow of 185 coins yesterday (May 8), worth $12 million.
BTC: It closed with a small negative line yesterday, and there were upper shadows above for three consecutive days, indicating that the selling pressure above it is far from stopping. The selling pressure at the daily level shows that the short side has signs of weakening. Can it give the long side a chance to counterattack? At this stage, the trend observation is still in a downward channel, and it is currently fluctuating in a wide range. The trend line focuses on 63900, which is the short-term watershed of strength and weakness. The recent trend is particularly tiring and relatively sluggish. Once some weak-willed people leave the market, the real bull market may usher in a main upward wave.
ETH: Linked to Bitcoin trend.
Regarding Shanzhai: Market sentiment has recently shown obvious anxiety and panic. Except for a few Shanzhai that are short-lived, other Shanzhai are in a sluggish trend, unable to rebound, and players' confidence is shaken. More and more voices predict that the market is about to enter a bear market. This view has gradually become mainstream, exacerbating the panic of players. With the increase of these negative voices, the market seems to have entered a hopeless cycle, and player sentiment continues to decline. Everything will look to the big pie. Only when the big pie stabilizes can Shanzhai dare to raise its head. Wait patiently, don't panic, this is a bull market!
Today's hot topics: RWA; Meme.
