Headlines
▌Chamath Palihapitiya: Bitcoin will rise to between $200,000 and $500,000 after halving
Billionaire Chamath Palihapitiya had his team do the calculations for the Bitcoin halving and came up with a cycle high target between $200,000 and $500,000.
▌Bitcoin rises 210%, Satoshi Nakamoto may become the world's richest man
Currently, Tesla's Elon Musk is the richest person in the world, according to Forbes' real-time billionaire list for June 1, 2024. However, in the future, Bitcoin creator Satoshi Nakamoto's wealth may surpass Musk. Considering the current value of BTC, the price of Bitcoin only needs to increase by 210% for the anonymous Bitcoin creator to become the richest person in the world.
Quotes
As of press time, according to Coingecko data:
The latest transaction price of BTC is $67,759.56, with a daily change of +0.1%;
ETH's latest transaction price is $3780.41, with a daily change of -0.8%;
BNB's latest transaction price is $602.94, with a daily change of +0.4%;
SOL's latest trading price is $163.15, with a daily change of -1.7%;
DOGE’s latest trading price is $0.1571, with a daily change of -1.9%;
XPR recently traded at $0.5132, with a daily change of -0.9%.
policy
▌VanEck CEO: SEC's ruling on Ethereum ETF may mark a historic shift in crypto investment
Jan van Eck, CEO of VanEck, said there is a major sentiment shift in the cryptocurrency market, which is related to the SEC's approval of a rule change to allow an Ethereum exchange-traded fund. Eck said this is really one of the most amazing things I have seen in securities regulation in my career. There is a real possibility that the SEC will lose jurisdiction over digital assets. So our first reaction was to get the Ethereum ETF green-lighted, but I think there is a bigger reason.
Van Eck said the 21st Century Financial Innovation and Technology Act, passed by the House of Representatives on May 8, is another big step toward regulatory clarity for cryptocurrencies, though he expressed doubts that the bill would make it to the Senate before the election.
▌9 US politicians urged Biden not to veto bill allowing banks and financial institutions to keep Bitcoin
Nine U.S. politicians urged President Biden not to veto a bill that would allow banks and financial institutions to keep custody of Bitcoin.
▌U.S. Senator: It’s time for the president to understand the importance of Bitcoin to America’s future
U.S. Senator Cynthia Lummis said it’s time for the president to understand the importance of Bitcoin to America’s future.
Blockchain Applications
▌Google and Magic Leap team up to create metaverse goggles
Mixed reality startup Magic Leap has announced a "multi-faceted strategic technology partnership" with Google to develop new extended reality technology.
Cryptocurrency
Coinbase: The US SEC is determined to kill the cryptocurrency industry
Cryptocurrency exchange Coinbase declared in a filing with the U.S. Court of Appeals that the U.S. Securities and Exchange Commission (SEC) will continue to take an enforcement regulatory approach to the cryptocurrency industry as much as possible to achieve its goal of "stifling" the industry. The SEC is serious about disrupting digital assets," and the company is continuing its efforts to push the court to force the SEC to begin formulating fair rules for the crypto industry.
Nevertheless, the exchange believes that the agency does not seem willing to sit down and formulate clear and fair guidelines. Giving the agency a chance to further explain is meaningless and extremely unworthy.
▌Goldman Sachs: Bitcoin ETF has achieved amazing success
According to Bitcoin Archive, Goldman Sachs said that the Bitcoin ETF has been a stunning success.
▌Bank of America: Investors put $600 million into cryptocurrencies in the week ending Wednesday
Bank of America cited EPFR data: In the week ending Wednesday, investors withdrew $6.7 billion from cash, put $1.8 billion into stocks and $600 million into cryptocurrencies.
▌A trader made a profit of 2,414 SOL in 10 minutes by trading HAPPY
According to Lookonchain monitoring, a trader just made 2,414 SOL ($398,000) in less than 10 minutes. The address spent 60 SOL ($9,914) to buy 89.18 million HAPPY and sold it for 2,474 SOL ($408,000).
HAPPY was purchased by bazingahappy.sol on Pump.fun for 85 SOL ($1,400) to buy 793 million HAPPY (79.3% of the total supply), currently worth $3.7 million.
▌Bitcoin miner balance drops below 1.81 million BTC
According to Glassnode, Bitcoin miner balances fell from about 1.84 million BTC at the beginning of 2023 to nearly 1.8 million BTC in May 2024. The decrease suggests that miners have increased selling to cover operating costs, which may be exacerbated by the reduction in block rewards after the halving. Transaction fees surged after the halving, accounting for 75% of miner revenue, as miners adapted to lower block rewards by relying more on transaction fees. This shift indicates a fundamental change in miners' revenue sources and may affect their future strategies.
Important economic developments
▌As the European Central Bank is about to cut interest rates for the first time, the global interest rate path will diverge
The European Central Bank could open the door to a fall in the euro on Thursday as its first rate cut would put the region on a different policy path from the United States. A 25 basis point rate cut at this month's meeting is all but certain, with ECB policymakers, led by President Christine Lagarde, insisting they are willing to act separately from the Fed. But officials' tolerance could become important in discussions about further easing, especially after recent reports suggested consumer price pressures are lingering. Currently, some institutions predict that the ECB will cut interest rates by 25 basis points in June, and after pausing in July, there will be similar cuts in September, October and December.
Golden Encyclopedia
What is ERC-404?
ERC-404 is an experimental token standard that combines elements of the ERC-20 and ERC-721 token standards to produce tokens with properties of both fungible and non-fungible tokens. Named after the famous webpage error code "Error 404", the ERC-404 token standard enables NFTs to be subdivided within the limits of the Ethereum network. This is achieved by linking NFTs to fungible tokens to implement fractional division.
Disclaimer: As a blockchain information platform, Golden Finance publishes articles for information reference only and is not intended as actual investment advice. Please establish a correct investment philosophy and be sure to raise your risk awareness.
