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As the next Bitcoin halving nears, users look forward to increased market volatility and a capital influx that could push the market higher. If that happens, the total crypto market cap may discover new levels and establish another all-time high (ATH).
Although the value has dropped slightly, crypto users expect a resurgence soon, especially with the anticipation of a bull run.
In a May 25 Ask Me Anything (AMA) on r/India community on Reddit, Nailwal was asked what he sees as some genuine at-scale “real life” use cases for blockchain other than trading and payments.
Sandeep Nailwal, the co-founder of the Ethereum-scaling platform, Polygon, believes Web3 gaming will eventually become one of the biggest drivers of mass crypto adoption.
Gabor Gurbacs shared that Tether is holding a substantial reserve of $3.4 billion in gold.
Tether’s strategy advisor compared the coin to the 25th largest holder of U.S. treasuries.
During his discussion, Saylor touched upon several key points. Firstly, he addressed the growing skepticism surrounding cryptocurrencies, emphasizing that Bitcoin, in particular, stands out as a commodity that lacks a central issuer.
When delving into MicroStrategy’s integration of Bitcoin into its operations, Saylor expressed his belief in Bitcoin’s ability to rectify profit and loss (PnL) issues and enhance overall product quality. In essence, he sees Bitcoin as a potential solution that can bring improvements to MicroStrategy’s financial standing and product offerings.
Santiment mentioned that many traders and investors expect the halving event to have a positive impact on LTC’s price. Furthermore, Santiment noted that discussions around LTC started increasing around 1 May 2023.
#Litecoin recently saw the largest spike in active addresses, where more than 832,000 $LTC addresses were interacting in the network as senders or receivers.
In a tweet earlier today, the crypto trader and analyst Ali shared that the LTC network saw its largest spike in active addresses over the past few days.
The crypto portfolio tracker Accointing by Glassnode shared a series of Twitter threads clarifying the misconceptions about MetaMask’s tax clause. Countering the rumors about MetaMask’s tax clause that stated the platform has the “right to withhold taxes where required,” Accointing pointed out that the clause is applicable only “to users who purchase products or services from MetaMask.”
The crypto community had been alarmed by the new tax clause in MetaMask’s Terms of Services.
Incidents like the collapse of FTX in 2022 have raised awareness of the need for a secure way to store Ethereum and Ethereum tokens such as stablecoins, Lopp said:
The collaboration will provide companies the ability to accept and pay bills with USDT (USDT), as well as pay a percentage of employee salaries with the stablecoin. The Central Market supplies over 12 million people per month and is home to over 500 wholesale companies, according to the city of Buenos Aires. It also employs over 2,000 people.
Technical indicators suggested that SUI’s price would soon flip the support level into resistance.
The digital Hong Kong dollar will start off with six potential uses cases; comprehensive payments, programmable payments, offline payments, tokenized deposits, Web 3.0 transaction settlements, and tokenized asset settlements. The CBDC is scheduled for a three-stage approach, with the novel pilot program being an important aspect of the second stage.
On May 18, the Hong Kong Monetary Authority (HKMA) announced the launch of the cyber Hong Kong dollar pilot project. According to officials, 16 selected companies from the financial payment and technology sectors will conduct the first round of trials this year on the feasibility of a Hong Kong dollar central bank digital currency (e-HKD). Companies included in the pilot include Alibaba (NYSE:BABA) Group’s Alipay Financial, Mastercard (NYSE:MA) Asia, Ripple Labs, Visa (NYSE:V), and HSBC.
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WillBTCBreak100KSoon
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$BTC Bitcoin is currently facing two significant resistance zones that could impact its upward momentum. The first major selling zone is around the $90,000 mark, which presents substantial selling pressure. However, an even stronger resistance level awaits at approximately $103,000, which I believe will be the heaviest hurdle for Bitcoin’s price to overcome.
As we approach these critical levels, it’s essential to remain cautious. It’s always wise to secure profits incrementally rather than holding out for an ideal peak. Overconfidence and greed can be detrimental, as we saw in 2021 when many held onto their assets too long, hoping for even higher returns, only to face sudden drops when the market turned. The key is to approach this rally strategically, taking profits along the way to protect gains and avoid potential losses if the market shifts unexpectedly.
#WillBTCBreak100KSoon
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