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Crypto De Nostradame
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Cryptocurrency market overview | May 24 🟢 Market cap: $2.63 trillion (+0.26%) 🔴 BTC dominance: 50.37% (-0.15%) ⚡️ Fear and Greed Index: 74 (greed)

Cryptocurrency market overview | May 24

🟢 Market cap: $2.63 trillion (+0.26%)

🔴 BTC dominance: 50.37% (-0.15%)

⚡️ Fear and Greed Index: 74 (greed)

Disclaimer: Includes thrid-party opinions. No financial advice. May include sponsored content. See T&Cs.
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SEC approves spot Ethereum ETFs. The US Securities and Exchange Commission (SEC) has approved spot ETH ETF applications from BlackRock, Fidelity, Grayscale, Bitwise, VanEck, Ark, Invesco Galaxy and Franklin Templeton. Although the SEC approved the applications of 8 companies, the S-1 forms required for the start of transactions must also be approved. This means that even if spot Ethereum ETF transactions are given the green light, transactions will not start immediately. The regulatory body will next begin negotiations on ETF issuers' S-1 forms. It is not yet clear how long this process will take. Some commentators think it could be weeks before the SEC launches Ethereum ETF trading. Until this week, there was a strong belief that the SEC would reject Ethereum ETFs. Rumors in the market were that the SEC's communication with issuers was poor, resulting in a reluctance to approve ETFs. However, at the beginning of the week, after the SEC asked for the application forms to be sent back, the general opinion about ETFs suddenly changed. After the announcement of this decision, which was perceived as a surprise in the market, the Ethereum price made a rapid jump of 20%. While the SEC's decision change was interpreted as an unprecedented situation, some investors commented that the decision could be political. On the other hand, after the #SEC gave trading approval, it became a matter of curiosity how spot #Ethereum ETFs would perform. Bloomberg ETF analyst Eric Balchunas stated that they do not expect Ethereum ETFs to perform similarly to Bitcoin ETFs. While Balchunas estimates that these #ETFs could raise an average of 10% of their Bitcoin counterparts, he still thinks this figure would be a pretty good result. Ethereum quickly moved towards $3,900 after first falling to $3,500 after the SEC's ETF approval. After this volatility, ETH, which remained horizontal in the $ 3,800 band, started to move towards $ 3,600 in the first hours of the day. $BTC $ETH
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🧙‍♂️ According to researcher Noelle Acheson, various indicators show that institutional interest in Ethereum is much lower than in Bitcoin.
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The US House of Representatives banned the Fed from issuing digital currencies. The US House of Representatives made an important decision in May 2024 and passed a bill banning the Federal Reserve (Fed) from issuing central bank digital money (CBDC). The bill was introduced by Republican Party member Tom Emmer and echoed the concerns of members of Congress. These concerns include the possibility that #CBDC could be used to track American citizens and the risk that such a ban would stifle innovation in the public sector. In the voting, the majority of Republican Party members supported the bill, while 3 Democratic Party members voted yes for the ban. The bill was accepted with a total of 216 votes. However, for the law to come into force, it must also pass the Senate. Experts predict that the anti-CBDC bill will face a difficult process in the Senate and is unlikely to be accepted. $BTC
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🧙‍♂️ The most active investment company so far in 2024 has been OKX Ventures. 🧙‍♂️ OKX Ventures invested in 52 projects in total this year.
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Pay attention to these 10 altcoins: They may take flight with Binance listing! As Bitcoin and Ethereum continue their impressive rise, many crypto investors are wondering if they are too late to join the party. As Bitcoin and Ethereum continue their impressive rise, many crypto investors are wondering if they're too late to join the party. Amidst this uncertainty, two elements stand out. Especially the developments in Binance have attracted attention. The first is whether ETH spot ETFs, which have a critical place in the crypto industry, will be approved. In case of a possible approval, it seems that there will be great increases, especially in altcoins. The second was the statement made by Binance recently. Binance published a report on low-volume, high-FDV token launches, stating that these tokens often decline after launch and only benefit developers. To solve this problem, Binance plans to significantly increase mid-cap coins by listing promising projects at lower values. With this development, crypto investors began to investigate which projects Binance could list. 1- Destra Network (DSYNC) 2- Banana Gun (BANANA) 3- Patex (PATEX) 4- KTX Finance (KTC) 5- Propy (PRO) 6- Opulous (OPUL) 7- Verasity (VRA) 8- GamerHash (GHX) 9- Alethea AI (ALI) 10- ChainGPT (CGPT)
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