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THE WAY TO WIN IS TO APPLY PATIENT AND CORRECT BUYING STRATEGY
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DID YOU HEAR...
Lost password of million-dollar Bitcoin wallet found after 10 years
The lost password of the wallet where $3 million worth of Bitcoin was stored was found after many years of efforts. The owner of the Bitcoins said that he would sell some of them and keep most of them until the price reached 100 thousand dollars. The lost password of the wallet in which 43.6 BTC, purchased in 2013 and worth approximately 3 million dollars at today's prices, was stored was found years later. The people who discovered the password were two hackers who specialize in this field.
He couldn't access his Bitcoins after the encrypted file got corrupted
A man named Michael, whose identity is kept secret, set up his wallet in 2013 and used the RoboForm platform to generate passwords. Michael, who did not want to store the password he created in RoboForm due to security concerns, kept it in an encrypted file. After a while, the encrypted file was corrupted and the owner could not access the 20-character password and therefore the 43.6 BTC in the wallet.
According to the video published on YouTube, Michael contacted the hacker named Joe Grand for help in 2022. Grand was previously famous for recovering lost Bitcoins kept in the Trezor brand wallet.
They tried countless times until they found the correct password.
Grand began working with a friend named Bruno to crack RoboForm's software. They discovered a vulnerability in the software's password generator. Allegedly, the password was set according to a specific date and time on the computer where the password was created. Although the company closed the vulnerability in 2015, previously created passwords could be accessed this way. While Michael did not remember when he created the password, hackers determined that Bitcoins were transferred to the wallet on April 13, 2013. Then, they tried many passwords one by one until they found the correct one.
Lost password of million-dollar Bitcoin wallet found after 10 years
The lost password of the wallet where $3 million worth of Bitcoin was stored was found after many years of efforts. The owner of the Bitcoins said that he would sell some of them and keep most of them until the price reached 100 thousand dollars. The lost password of the wallet in which 43.6 BTC, purchased in 2013 and worth approximately 3 million dollars at today's prices, was stored was found years later. The people who discovered the password were two hackers who specialize in this field.
He couldn't access his Bitcoins after the encrypted file got corrupted
A man named Michael, whose identity is kept secret, set up his wallet in 2013 and used the RoboForm platform to generate passwords. Michael, who did not want to store the password he created in RoboForm due to security concerns, kept it in an encrypted file. After a while, the encrypted file was corrupted and the owner could not access the 20-character password and therefore the 43.6 BTC in the wallet.
According to the video published on YouTube, Michael contacted the hacker named Joe Grand for help in 2022. Grand was previously famous for recovering lost Bitcoins kept in the Trezor brand wallet.
They tried countless times until they found the correct password.
Grand began working with a friend named Bruno to crack RoboForm's software. They discovered a vulnerability in the software's password generator. Allegedly, the password was set according to a specific date and time on the computer where the password was created. Although the company closed the vulnerability in 2015, previously created passwords could be accessed this way. While Michael did not remember when he created the password, hackers determined that Bitcoins were transferred to the wallet on April 13, 2013. Then, they tried many passwords one by one until they found the correct one.
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#nelerolacak $SOL $ETH $BTC A significant change has occurred in the crypto ETF market. BlackRock's iShares Bitcoin Trust (IBIT) has overtaken Grayscale Bitcoin Trust (GBTC) and become the world's largest spot Bitcoin ETF. Crypto ETFs hold 5% of the circulating BTC supply
While there was an outflow of 105 million dollars from GBTC in yesterday's transactions, this amount was recorded as one of the highest outflows in single-day transactions in May. However, while a net inflow of $45.14 million was realized across the ETF market yesterday, the positive inflow series reached 11 days and the positive outlook continued.
Currently, the amount of Bitcoin held in ETFs has exceeded 1 million BTC, corresponding to approximately 5% of the total BTC supply. According to CoinShares data, as of last week, more than $1 billion of funds entered the crypto ETF market, based in the USA. After spot Bitcoin ETF trading in the USA started in January, GBTC began to rapidly lose funds due to its high commission rate and arbitrage. While BlackRock's ETF started to rapidly attract funds in approximately 5 months, IBIT became the largest spot Bitcoin ETF in the market as of yesterday.
While its peers offered an average commission of 0.2%, the recommended offer rate for GBTC funds remained constant at 1.5%. This approach caused the ETF, which initially held 620 thousand BTC, to fall below 290 thousand BTC.
While there was an outflow of 105 million dollars from GBTC in yesterday's transactions, this amount was recorded as one of the highest outflows in single-day transactions in May. However, while a net inflow of $45.14 million was realized across the ETF market yesterday, the positive inflow series reached 11 days and the positive outlook continued.
Currently, the amount of Bitcoin held in ETFs has exceeded 1 million BTC, corresponding to approximately 5% of the total BTC supply. According to CoinShares data, as of last week, more than $1 billion of funds entered the crypto ETF market, based in the USA. After spot Bitcoin ETF trading in the USA started in January, GBTC began to rapidly lose funds due to its high commission rate and arbitrage. While BlackRock's ETF started to rapidly attract funds in approximately 5 months, IBIT became the largest spot Bitcoin ETF in the market as of yesterday.
While its peers offered an average commission of 0.2%, the recommended offer rate for GBTC funds remained constant at 1.5%. This approach caused the ETF, which initially held 620 thousand BTC, to fall below 290 thousand BTC.
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DID YOU HEAR..
After the prison sentence of FTX founder Sam Bankman-Fried was approved, Ryan Salame, who worked in FTX's Bahamas unit and co-chairman of FTX Digital Markets, became the second person sentenced to prison in the case.
Ryan Salame has been accused of illegally contributing to campaigns in the United States and engaging in unlicensed money transfer activities in recent years.
It is known that Salame, who did not speak out against Bankman-Fried, cooperated with prosecutors. The court also accused the senior executive of helping to hide deficits in FTX's balance sheet, thus contributing to the stock market crash. In addition, it was recorded that Salame withdrew approximately 5 million dollars from FTX while the stock market was going bankrupt.
In his defense, Ryan Salame continued to insist that he had good intentions while apologizing to FTX customers and his family. However, he admitted that the method he used was completely illegal.
Decision awaited for FTX's other three senior executives
During the ongoing lawsuit, all eyes are now on the punishment that three other senior executives of FTX will receive.
These executives are co-founder Gary Wang, chief technical officer Nishad Singh, and Caroline Ellison, CEO of FTX's hedge fund Alameda Research. All three executives pleaded guilty to the charges before the trial began, cooperated with prosecutors, and testified against Sam Bankman-Fried as per the agreement.
After the prison sentence of FTX founder Sam Bankman-Fried was approved, Ryan Salame, who worked in FTX's Bahamas unit and co-chairman of FTX Digital Markets, became the second person sentenced to prison in the case.
Ryan Salame has been accused of illegally contributing to campaigns in the United States and engaging in unlicensed money transfer activities in recent years.
It is known that Salame, who did not speak out against Bankman-Fried, cooperated with prosecutors. The court also accused the senior executive of helping to hide deficits in FTX's balance sheet, thus contributing to the stock market crash. In addition, it was recorded that Salame withdrew approximately 5 million dollars from FTX while the stock market was going bankrupt.
In his defense, Ryan Salame continued to insist that he had good intentions while apologizing to FTX customers and his family. However, he admitted that the method he used was completely illegal.
Decision awaited for FTX's other three senior executives
During the ongoing lawsuit, all eyes are now on the punishment that three other senior executives of FTX will receive.
These executives are co-founder Gary Wang, chief technical officer Nishad Singh, and Caroline Ellison, CEO of FTX's hedge fund Alameda Research. All three executives pleaded guilty to the charges before the trial began, cooperated with prosecutors, and testified against Sam Bankman-Fried as per the agreement.
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While Nvidia's (NVDA) share price increased by over 7% on May 28, AI-related cryptocurrencies have fallen in the last 24 hours. However, a cryptocurrency investor said that the decline will not last forever.
âNVDA is rising, AI tokens are quiet now but that won't last long,â investor Matthew Hyland wrote in his X post on May 28. said.
Nvidia's AI impact on crypto tokens
Artificial intelligence companies run AI models on computer processors made by Nvidia. As NVDA's performance is seen as a barometer of the market's attitude towards AI, crypto investors are considering its share price as a prediction of how AI tokens may move.
Nvidia gained 22% in the last five trading days and closed at a record high of $1,140 on May 28; The stock is up nearly 137% since the beginning of the year.
Nvidia's first-quarter revenue beat expert estimates by about 5.6%, up 18% from the fourth quarter of 2023 and 262% from the same quarter last year.
Meanwhile, some of the largest intelligence-based artificial cryptocurrencies have crashed in the last week, unlike Nvidia.
Render (RNDR), fetch.ai (FET), and SingularityNet (AGIX) lost 8.14%, 11.39%, and 11.19%, respectively, over the past seven days, according to CoinMarketCap.
Although artificial intelligence-based cryptocurrencies did not follow the increase, some investors think that this situation may change with the decline in Nvidia's share price. âWhen NVDA starts selling, it will take other mega-cap tech names with it for at least a few days,â anonymous crypto investor Triplexx wrote in a post shared on May 28. Then, whatever crypto's attitude is, it will pull crypto with it. âBe ready.â said.
Investment guru Lyn Alden noted on May 25 that Nvidia was one of the few stocks to outperform Bitcoin over the past decade.
âNVDA is rising, AI tokens are quiet now but that won't last long,â investor Matthew Hyland wrote in his X post on May 28. said.
Nvidia's AI impact on crypto tokens
Artificial intelligence companies run AI models on computer processors made by Nvidia. As NVDA's performance is seen as a barometer of the market's attitude towards AI, crypto investors are considering its share price as a prediction of how AI tokens may move.
Nvidia gained 22% in the last five trading days and closed at a record high of $1,140 on May 28; The stock is up nearly 137% since the beginning of the year.
Nvidia's first-quarter revenue beat expert estimates by about 5.6%, up 18% from the fourth quarter of 2023 and 262% from the same quarter last year.
Meanwhile, some of the largest intelligence-based artificial cryptocurrencies have crashed in the last week, unlike Nvidia.
Render (RNDR), fetch.ai (FET), and SingularityNet (AGIX) lost 8.14%, 11.39%, and 11.19%, respectively, over the past seven days, according to CoinMarketCap.
Although artificial intelligence-based cryptocurrencies did not follow the increase, some investors think that this situation may change with the decline in Nvidia's share price. âWhen NVDA starts selling, it will take other mega-cap tech names with it for at least a few days,â anonymous crypto investor Triplexx wrote in a post shared on May 28. Then, whatever crypto's attitude is, it will pull crypto with it. âBe ready.â said.
Investment guru Lyn Alden noted on May 25 that Nvidia was one of the few stocks to outperform Bitcoin over the past decade.
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$BTC $ETH Spot Bullish appetite in Bitcoin ETFs: 10 out of 10
The recently increasing bullish appetite has continued the positive streak of spot Bitcoin ETFs. Last week, there was a total net inflow of $1.06 billion into spot Bitcoin ETFs.
The upward price movement continues in the cryptocurrency market. The positive news flow and the impact of spot Etherem ETFs brought altcoins to the fore.
The bullish appetite of crypto investors was also accompanied by corporates. Spot Bitcoin ETFs experienced net inflows on all five trading days of the past week. Total net money inflow series increased to 10 trading days. Record series: Bitcoin's stronghold in the USA is very strong!
Spot Bitcoin ETFs have experienced net inflows for two weeks in a row. BlackRock led the way in the 10-day record series.
Spot Bitcoin ETFs witnessed net inflows of $1.06 billion last week. BlackRock's IBIT constituted $719.35 million of this amount. IBIT increased its total BTC assets to $19.79 billion. Grayscale's GBTC, on the other hand, performed poorly last week. GBTC achieved a net outflow of $20.46 million in the past week. Grayscale's ETF drew zero on three of the five trading days. Another notable ETF product of the week was Fidelity's FBTC. FBTC hosted a net inflow of $227.21 million last week. FBTC increased its BTC holdings to $11.14 billion.
The remaining 8 issuers contributed to the week with a net money inflow of 113.44 million dollars.
All eyes turned to BlackRock in spot Bitcoin ETFs, which started the new week with a 10-day money inflow series. This week, IBIT's performance will determine the course of spot Bitcoin ETFs traded in the US.
The recently increasing bullish appetite has continued the positive streak of spot Bitcoin ETFs. Last week, there was a total net inflow of $1.06 billion into spot Bitcoin ETFs.
The upward price movement continues in the cryptocurrency market. The positive news flow and the impact of spot Etherem ETFs brought altcoins to the fore.
The bullish appetite of crypto investors was also accompanied by corporates. Spot Bitcoin ETFs experienced net inflows on all five trading days of the past week. Total net money inflow series increased to 10 trading days. Record series: Bitcoin's stronghold in the USA is very strong!
Spot Bitcoin ETFs have experienced net inflows for two weeks in a row. BlackRock led the way in the 10-day record series.
Spot Bitcoin ETFs witnessed net inflows of $1.06 billion last week. BlackRock's IBIT constituted $719.35 million of this amount. IBIT increased its total BTC assets to $19.79 billion. Grayscale's GBTC, on the other hand, performed poorly last week. GBTC achieved a net outflow of $20.46 million in the past week. Grayscale's ETF drew zero on three of the five trading days. Another notable ETF product of the week was Fidelity's FBTC. FBTC hosted a net inflow of $227.21 million last week. FBTC increased its BTC holdings to $11.14 billion.
The remaining 8 issuers contributed to the week with a net money inflow of 113.44 million dollars.
All eyes turned to BlackRock in spot Bitcoin ETFs, which started the new week with a 10-day money inflow series. This week, IBIT's performance will determine the course of spot Bitcoin ETFs traded in the US.
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#TON TON blockchain exceeds $300 million in two months
The Open Network (TON) blockchain has reached over $300 million in total assets locked (TVL), thanks to the impact of the incentive program launched in March.
New trends are emerging in the crypto ecosystem, which has grown exponentially since January. In particular, The Open Network (TON) has introduced a different category to the crypto industry with its Telegram support. TON, which managed to create a social blockchain through the social media platform, became the focus of millions of users in a short time.
TON blockchain reached $315 million TVL in two months, accompanied by increasing demand and number of users. This amount was close to 20 million dollars in March.
The Open Network (TON) blockchain has reached over $300 million in total assets locked (TVL), thanks to the impact of the incentive program launched in March.
New trends are emerging in the crypto ecosystem, which has grown exponentially since January. In particular, The Open Network (TON) has introduced a different category to the crypto industry with its Telegram support. TON, which managed to create a social blockchain through the social media platform, became the focus of millions of users in a short time.
TON blockchain reached $315 million TVL in two months, accompanied by increasing demand and number of users. This amount was close to 20 million dollars in March.
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$BNB $ETH Bitcoin meeting from El Salvador and Argentina officials
Following the election of Javier Milei, senior officials of Argentina and El Salvador, led by Nayib Bukele, held a Bitcoin meeting, which seriously devalued the country's currency and reduced the number of civil servants in institutions that were a burden on the state. The meeting took place in the building of CNV, the securities regulatory authority in the city of Buenos Aires.
Juan Carlos Reyes, president of the National Digital Assets Commission (CNAD) of El Salvador, which made Bitcoin its official currency in 2021 and was the first in the world in this sense, met with the country's securities president Roberto Silva and vice president Patricia Boedo in Argentina.
The main topic of the meeting held at the building of Argentina's National Securities Regulatory Authority (CNV) in the capital Buenos Aires was Bitcoin. El Salvadoran official Juan Carlos Reyes explained his country's Bitcoin experience since 2021 to Argentinian officials.
The parties also talked about the ever-growing role of Bitcoin for global economies.
Roberto Silva, head of the Argentine Securities Regulatory Authority, praised El Salvador's progress in the Bitcoin world and said:
âEl Salvador has established itself as a global leader not only in the use of Bitcoin, but also in the broader field of digital assets. âWe aim to strengthen our ties with them and further increase possible cooperation agreements.â
Juan Carlos Reyes also said that Argentina is a country that is developing day by day in the field of technology and that they will seriously increase their cooperation with them in this sense.
The new president of Argentina, Javier Milei, who is known for his harsh words against central financial institutions and especially the Central Bank of Argentina, defends the view that Bitcoin is a natural reaction to inflation due to its limited supply.
Following the election of Javier Milei, senior officials of Argentina and El Salvador, led by Nayib Bukele, held a Bitcoin meeting, which seriously devalued the country's currency and reduced the number of civil servants in institutions that were a burden on the state. The meeting took place in the building of CNV, the securities regulatory authority in the city of Buenos Aires.
Juan Carlos Reyes, president of the National Digital Assets Commission (CNAD) of El Salvador, which made Bitcoin its official currency in 2021 and was the first in the world in this sense, met with the country's securities president Roberto Silva and vice president Patricia Boedo in Argentina.
The main topic of the meeting held at the building of Argentina's National Securities Regulatory Authority (CNV) in the capital Buenos Aires was Bitcoin. El Salvadoran official Juan Carlos Reyes explained his country's Bitcoin experience since 2021 to Argentinian officials.
The parties also talked about the ever-growing role of Bitcoin for global economies.
Roberto Silva, head of the Argentine Securities Regulatory Authority, praised El Salvador's progress in the Bitcoin world and said:
âEl Salvador has established itself as a global leader not only in the use of Bitcoin, but also in the broader field of digital assets. âWe aim to strengthen our ties with them and further increase possible cooperation agreements.â
Juan Carlos Reyes also said that Argentina is a country that is developing day by day in the field of technology and that they will seriously increase their cooperation with them in this sense.
The new president of Argentina, Javier Milei, who is known for his harsh words against central financial institutions and especially the Central Bank of Argentina, defends the view that Bitcoin is a natural reaction to inflation due to its limited supply.
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DO YOU KNOW..
OKX is also withdrawing from Hong Kong: The reason is not disclosed
OKX, which is considered the world's largest exchange after Binance, has decided to withdraw from the Hong Kong market. Deposits and transactions will be terminated as of May 31, but withdrawals will continue until August 31. The stock exchange did not provide any information about withdrawing from the Hong Kong market, other than saying "It was a strategic decision."
As of June 1 last year, another exchange decided to withdraw from Hong Kong, which introduced new crypto regulations and introduced strict compliance rules. OKX, one of the most important and largest stock exchanges in the world, announced that it will not be in the Hong Kong market as of May 31.
In the statement, it was stated that the virtual asset provider (VASP) license was withdrawn, but no detailed reason was given. OKX customers in Hong Kong will continue to use their Web3 wallets but must withdraw their assets from the exchange by August 31. As of May 31, only withdrawal transactions will be possible.
Hong Kong is known for being the jurisdiction in the world that quickly established its regulations in the field of crypto and opened Bitcoin and Ether futures-spot transactions. However, as set by regulatory bodies; It is known that anti-money laundering, cyber security protocols and governance standards rules are equally strict.
SFC, the regulatory authority of Hong Kong, which is also stated to be China's gateway to the world in terms of crypto, has so far licensed only two exchanges, OSL and HashKey. Both of these exchanges are headquartered in Hong Kong.
OKX is also withdrawing from Hong Kong: The reason is not disclosed
OKX, which is considered the world's largest exchange after Binance, has decided to withdraw from the Hong Kong market. Deposits and transactions will be terminated as of May 31, but withdrawals will continue until August 31. The stock exchange did not provide any information about withdrawing from the Hong Kong market, other than saying "It was a strategic decision."
As of June 1 last year, another exchange decided to withdraw from Hong Kong, which introduced new crypto regulations and introduced strict compliance rules. OKX, one of the most important and largest stock exchanges in the world, announced that it will not be in the Hong Kong market as of May 31.
In the statement, it was stated that the virtual asset provider (VASP) license was withdrawn, but no detailed reason was given. OKX customers in Hong Kong will continue to use their Web3 wallets but must withdraw their assets from the exchange by August 31. As of May 31, only withdrawal transactions will be possible.
Hong Kong is known for being the jurisdiction in the world that quickly established its regulations in the field of crypto and opened Bitcoin and Ether futures-spot transactions. However, as set by regulatory bodies; It is known that anti-money laundering, cyber security protocols and governance standards rules are equally strict.
SFC, the regulatory authority of Hong Kong, which is also stated to be China's gateway to the world in terms of crypto, has so far licensed only two exchanges, OSL and HashKey. Both of these exchanges are headquartered in Hong Kong.
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WHAT'S GOING ON..
The price of a wrong keystroke at Citigroup was heavy: $322 billion was deleted
This time, a Citigroup employee made the wrong typing errors, which are seen from time to time in the crypto world. This mistake cost the company dearly. As a result of the investigation, which ended approximately 2 years later, Citigroup was fined $78 million.
Same period as the Terra LUNA crisis
In this incident, which took place in May 2022, when the cryptocurrency world was experiencing a major collapse due to the Terra LUNA crisis, the Citigroup trader caused a major collapse in the first minutes of the markets opening in Europe.
$322 billion was deleted
The transaction, which brought a major decline in the OMX Stockholm 30 Index (OMXS30), an index that includes the stocks of the 30 largest and highest volume companies traded on the Stockholm Stock Exchange, caused $322 billion to be deleted from the index.
58 million dollars, 58 million units!
According to the information provided by the US media Bloomberg, the trader actually wanted to "hedge" his company's position in the MSCI World Index. The trader, who wanted to create a total basket of 58 million dollars from some stocks, mistakenly wrote 58 million in the quantity section. This actually caused the company to open a huge transaction worth $444 billion.
In fact, Citi also had a control mechanism for such errors. Although most of the transaction was canceled by this mechanism, some of it was realized and a transaction worth 1.4 billion dollars was implemented.
âThe error could not be detected by the systemâ
The Bank of England Prudential Regulation Authority, one of the UK regulators, completed its investigation on the issue and stated that the error was not detected "instantly" by the systems that should work automatically, but by the person who opened the transaction, 15 minutes after the transaction started.
The price of a wrong keystroke at Citigroup was heavy: $322 billion was deleted
This time, a Citigroup employee made the wrong typing errors, which are seen from time to time in the crypto world. This mistake cost the company dearly. As a result of the investigation, which ended approximately 2 years later, Citigroup was fined $78 million.
Same period as the Terra LUNA crisis
In this incident, which took place in May 2022, when the cryptocurrency world was experiencing a major collapse due to the Terra LUNA crisis, the Citigroup trader caused a major collapse in the first minutes of the markets opening in Europe.
$322 billion was deleted
The transaction, which brought a major decline in the OMX Stockholm 30 Index (OMXS30), an index that includes the stocks of the 30 largest and highest volume companies traded on the Stockholm Stock Exchange, caused $322 billion to be deleted from the index.
58 million dollars, 58 million units!
According to the information provided by the US media Bloomberg, the trader actually wanted to "hedge" his company's position in the MSCI World Index. The trader, who wanted to create a total basket of 58 million dollars from some stocks, mistakenly wrote 58 million in the quantity section. This actually caused the company to open a huge transaction worth $444 billion.
In fact, Citi also had a control mechanism for such errors. Although most of the transaction was canceled by this mechanism, some of it was realized and a transaction worth 1.4 billion dollars was implemented.
âThe error could not be detected by the systemâ
The Bank of England Prudential Regulation Authority, one of the UK regulators, completed its investigation on the issue and stated that the error was not detected "instantly" by the systems that should work automatically, but by the person who opened the transaction, 15 minutes after the transaction started.
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DID YOU HEAR...
$BTC
US Presidential candidate Donald Trump said he will ensure that the future of crypto and#Bitcoinis developed in the USA.
$BTC
US Presidential candidate Donald Trump said he will ensure that the future of crypto and#Bitcoinis developed in the USA.
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$ETH According to Foresight News, the latest data from Dune Analytics reveals that the total amount of Ethereum (ETH) staked on the Ethereum Beacon Chain has reached 32,540,181 ETH. This represents 27.15% of the total ETH supply. Liquidity staking protocol Lido accounts for a significant portion of this, with a staking share of 28.56%.
There has also been a net inflow of 14,374,191 ETH since the Shanghai upgrade. This data shows growing interest and participation in Ethereum's staking ecosystem, especially following significant network upgrades. Ethereum Beacon Chain is a Proof of Stake (PoS) network that is part of Ethereum 2.0, the next iteration of the Ethereum blockchain.
The high level of staking activity, especially from protocols like Lido, shows the Ethereum community's confidence in the future of the network. The Shanghai upgrade, which aims to increase the scalability and security of the Ethereum network, appears to have a positive impact on the amount of ETH staked.
There has also been a net inflow of 14,374,191 ETH since the Shanghai upgrade. This data shows growing interest and participation in Ethereum's staking ecosystem, especially following significant network upgrades. Ethereum Beacon Chain is a Proof of Stake (PoS) network that is part of Ethereum 2.0, the next iteration of the Ethereum blockchain.
The high level of staking activity, especially from protocols like Lido, shows the Ethereum community's confidence in the future of the network. The Shanghai upgrade, which aims to increase the scalability and security of the Ethereum network, appears to have a positive impact on the amount of ETH staked.
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Share to Win is back with BIGGER rewards where verified users can participate to unlock over 100 USDT in rewards.Â
Activity Period: From 23.05.2024 09:00 (UTC) to 06.06.2024 09:00 (UTC)
Activity 1: Share Binance Square Links with Your Referrals to Earn Up to 100 USDT in Crypto Red Bundle
When your friend clicks on any Square content link you share, you and a friend can unlock up to 2 USDT in the red packet!
Enjoy BIGGER rewards when you send to a friend who just joined Binance!
Event 2: New Users Only - Sign Up on Binance and Complete Challenges to Earn up to 5.5 USDT in extra Rewards
1. Open any of the ten unique Binance Square links when you log in to your Binance account.
2. Complete a trade of at least 100$ equivalent in Spot, Futures, Margin, Options or Conversion.
This Event may not be available in your area.Â
Rewards for both Activities are distributed on a first-come, first-served basis and are subject to limited redemption.
Activity Period: From 23.05.2024 09:00 (UTC) to 06.06.2024 09:00 (UTC)
Activity 1: Share Binance Square Links with Your Referrals to Earn Up to 100 USDT in Crypto Red Bundle
When your friend clicks on any Square content link you share, you and a friend can unlock up to 2 USDT in the red packet!
Enjoy BIGGER rewards when you send to a friend who just joined Binance!
Event 2: New Users Only - Sign Up on Binance and Complete Challenges to Earn up to 5.5 USDT in extra Rewards
1. Open any of the ten unique Binance Square links when you log in to your Binance account.
2. Complete a trade of at least 100$ equivalent in Spot, Futures, Margin, Options or Conversion.
This Event may not be available in your area.Â
Rewards for both Activities are distributed on a first-come, first-served basis and are subject to limited redemption.
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$ETH Ether ETF optimism fuels crypto market rally
The price of Ether, the cryptocurrency that powers the Ethereum blockchain network, rose 8% to $3,775 on Tuesday, reaching its highest level in the last two months. This rise follows a significant 13.8% jump on Tuesday. The positive market movement comes as investors remain hopeful about the U.S. Securities and Exchange Commission's (SEC) upcoming decisions on applications for spot exchange-traded funds (ETFs) that track ether.
Leading cryptocurrency Bitcoin also experienced a rise, rising 2.2% to $71,000. It's currently approaching its March high of $73,803.25, falling just 4% short of that record value.
The market's optimism is partly attributed to rumors suggesting the SEC may approve the highly anticipated ether ETFs. This speculation led to the biggest two-day gain for ether in nearly two years. Previously, market consensus was that these applications would likely be rejected.
The SEC's approval of several spot bitcoin ETFs earlier this year led to a sharp rally in the price of bitcoin, and the ETFs attracted billions of dollars in inflows. While bitcoin has gained 67% in value since the beginning of 2024, ether has fallen behind with a 60% increase.
âEthereum took pole position in the latest crypto rally ahead of Thursday's first SEC deadline to decide on the ETH ETF,â said Ben Laidler, global markets strategist at eToro. He added that final approval was unlikely, but any positive indication from the SEC would be important for the market.
Applicants for spot ether ETFs include VanEck and ARK Investment Management. The SEC is expected to rule on their applications by May 23 and May 24, respectively.
Joseph Edwards, director of research at Enigma Securities, said the SEC has requested exchanges update their applications for ether ETFs.
The price of Ether, the cryptocurrency that powers the Ethereum blockchain network, rose 8% to $3,775 on Tuesday, reaching its highest level in the last two months. This rise follows a significant 13.8% jump on Tuesday. The positive market movement comes as investors remain hopeful about the U.S. Securities and Exchange Commission's (SEC) upcoming decisions on applications for spot exchange-traded funds (ETFs) that track ether.
Leading cryptocurrency Bitcoin also experienced a rise, rising 2.2% to $71,000. It's currently approaching its March high of $73,803.25, falling just 4% short of that record value.
The market's optimism is partly attributed to rumors suggesting the SEC may approve the highly anticipated ether ETFs. This speculation led to the biggest two-day gain for ether in nearly two years. Previously, market consensus was that these applications would likely be rejected.
The SEC's approval of several spot bitcoin ETFs earlier this year led to a sharp rally in the price of bitcoin, and the ETFs attracted billions of dollars in inflows. While bitcoin has gained 67% in value since the beginning of 2024, ether has fallen behind with a 60% increase.
âEthereum took pole position in the latest crypto rally ahead of Thursday's first SEC deadline to decide on the ETH ETF,â said Ben Laidler, global markets strategist at eToro. He added that final approval was unlikely, but any positive indication from the SEC would be important for the market.
Applicants for spot ether ETFs include VanEck and ARK Investment Management. The SEC is expected to rule on their applications by May 23 and May 24, respectively.
Joseph Edwards, director of research at Enigma Securities, said the SEC has requested exchanges update their applications for ether ETFs.
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$USTC
Dollar/TL forecast from Bank of America
Bank of America expects dollar/TL to be at 38 at the end of the year.
Bank of America Securities stated that with the tightening of monetary policy in Turkey, both domestic and foreign investors have become more optimistic, while the real sector has seen a significant slowdown in the economy and banks have seen a return to the dollar.
In the report titled "First quarter pessimism out, summer optimism in", published by BofA economists and strategists, including ZĂŒmrĂŒt Ä°mamoÄlu, after their visit to Turkey, it is stated that "The private sector is now feeling the slowdown in the economy and is of the opinion that the monetary stance is tight enough." It was said.
BofA stated that positioning in Turkish lira and Turkish lira-denominated bonds is widespread and that crowded positioning in TL and inertia in inflation are seen as the most important sources of concern. "Domestic foreign exchange demand has reversed since the local elections, and in our meetings with banks, they said that they see both individual investors and corporate companies on the sales side," the report said, adding, "If the TL stabilizes, the trend of reversal of dollarization may continue in the summer months. "Given the high inflation level, we expect that there may be some nominal depreciation in TL when capital inflows slow down."
BofA expects Dollar/TL to be at 38 at the end of the year.
Dollar/TL forecast from Bank of America
Bank of America expects dollar/TL to be at 38 at the end of the year.
Bank of America Securities stated that with the tightening of monetary policy in Turkey, both domestic and foreign investors have become more optimistic, while the real sector has seen a significant slowdown in the economy and banks have seen a return to the dollar.
In the report titled "First quarter pessimism out, summer optimism in", published by BofA economists and strategists, including ZĂŒmrĂŒt Ä°mamoÄlu, after their visit to Turkey, it is stated that "The private sector is now feeling the slowdown in the economy and is of the opinion that the monetary stance is tight enough." It was said.
BofA stated that positioning in Turkish lira and Turkish lira-denominated bonds is widespread and that crowded positioning in TL and inertia in inflation are seen as the most important sources of concern. "Domestic foreign exchange demand has reversed since the local elections, and in our meetings with banks, they said that they see both individual investors and corporate companies on the sales side," the report said, adding, "If the TL stabilizes, the trend of reversal of dollarization may continue in the summer months. "Given the high inflation level, we expect that there may be some nominal depreciation in TL when capital inflows slow down."
BofA expects Dollar/TL to be at 38 at the end of the year.
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Inflation comment from Fitch
International credit rating agency Fitch Ratings stated that global inflation rates have fallen, but the stubborn increase in service sector prices has disrupted these declines.
In the statement made by Fitch, it was stated that inflation slowed down rapidly, with the help of the reversal of the increase in food and energy prices.
The statement emphasized that core inflation has also fallen and returned to its pre-pandemic trend or generally stable levels in many countries, but it was stated that there is little sign that core goods prices will fall directly, which means that services inflation must fall further for inflation to return to the target in a sustainable manner. .
In the statement, it was noted that Fitch's analysis showed that services inflation would remain "sticky", that global inflation rates decreased, but these declines were disrupted due to the stubborn increase in service sector prices.
In the statement of the organization, it was pointed out that housing costs also contribute to high services inflation, especially in developed economies.
International credit rating agency Fitch Ratings stated that global inflation rates have fallen, but the stubborn increase in service sector prices has disrupted these declines.
In the statement made by Fitch, it was stated that inflation slowed down rapidly, with the help of the reversal of the increase in food and energy prices.
The statement emphasized that core inflation has also fallen and returned to its pre-pandemic trend or generally stable levels in many countries, but it was stated that there is little sign that core goods prices will fall directly, which means that services inflation must fall further for inflation to return to the target in a sustainable manner. .
In the statement, it was noted that Fitch's analysis showed that services inflation would remain "sticky", that global inflation rates decreased, but these declines were disrupted due to the stubborn increase in service sector prices.
In the statement of the organization, it was pointed out that housing costs also contribute to high services inflation, especially in developed economies.
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Inflation and balance sheet reduction message in Fed minutes
Minutes of the Fed's meeting showed that officials were concerned about inflation and that some members were ready to tighten monetary policy if inflation risks increased. Messages were also given in the minutes regarding the speed of balance sheet reduction.
The minutes of the Fed's April 30-May 1 meeting have been published. The minutes signaled that Fed officials did not have enough confidence to cut interest rates.
In order to reduce the risk of turbulence that may arise from balance sheet reduction, the Fed announced on May 1 that it would reduce the balance sheet reduction amount from 60 billion dollars to 25 billion dollars per month, starting from June. While the minutes show that almost all officials support the balance sheet reduction process, a few officials stated that they may support the balance sheet reduction amount to remain at previous levels.
Referring to the recent rise in inflation, the minutes said, "Participants observed that although inflation slowed down last year, the Committee had difficulty in advancing to the 2 percent target in the last few months. "Gaining greater confidence about inflation will take longer than expected."
It was stated in the minutes that some officials pointed out geopolitical events or other factors that lead to more serious supply bottlenecks or higher transportation costs, and that this situation could create upward pressure on prices and negatively affect economic growth.
In the meeting held after the inflation data exceeding the expectations in the last few months in the USA, the Fed left the interest rates unchanged at 5.25-5.5 percent.
In the minutes, some participants stated that an interest rate increase would be appropriate if inflation risks emerged.
Some members also pointed out the risk that financial conditions were too loose.
Minutes of the Fed's meeting showed that officials were concerned about inflation and that some members were ready to tighten monetary policy if inflation risks increased. Messages were also given in the minutes regarding the speed of balance sheet reduction.
The minutes of the Fed's April 30-May 1 meeting have been published. The minutes signaled that Fed officials did not have enough confidence to cut interest rates.
In order to reduce the risk of turbulence that may arise from balance sheet reduction, the Fed announced on May 1 that it would reduce the balance sheet reduction amount from 60 billion dollars to 25 billion dollars per month, starting from June. While the minutes show that almost all officials support the balance sheet reduction process, a few officials stated that they may support the balance sheet reduction amount to remain at previous levels.
Referring to the recent rise in inflation, the minutes said, "Participants observed that although inflation slowed down last year, the Committee had difficulty in advancing to the 2 percent target in the last few months. "Gaining greater confidence about inflation will take longer than expected."
It was stated in the minutes that some officials pointed out geopolitical events or other factors that lead to more serious supply bottlenecks or higher transportation costs, and that this situation could create upward pressure on prices and negatively affect economic growth.
In the meeting held after the inflation data exceeding the expectations in the last few months in the USA, the Fed left the interest rates unchanged at 5.25-5.5 percent.
In the minutes, some participants stated that an interest rate increase would be appropriate if inflation risks emerged.
Some members also pointed out the risk that financial conditions were too loose.
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$$BTC Dollar analysis from Deutsche Bank
Deutsche Bank announced that it carried its upward expectations for the dollar to the second half of the year.
Deutsche Bank carried its bullish expectation about the dollar to the second half of the year, arguing that if US bond yields remain higher than other developed countries, cuts in US interest rates will have a limited impact on the currency.
"The dollar will remain the second-highest-yielding currency in the developed world, a situation that has historically supported portfolio inflows," George Saravelos, the bank's global head of foreign exchange research, said in a note.
Markets have hawkishly repriced the Fed's and US economic resilience as the #UScurrency has outperformed all G-10 currencies so far this year, lifting the Bloomberg Dollar Spot Index by almost 3 percent.
In his note, Saravelos added that an unexpected weakening of the US economy or a possible Trump administration stance in favor of a weak dollar policy would pose the biggest risks to his view.
On the other hand, Saravelos, who also saw a downward trend in the Swiss franc and Swedish krona, noted that the ECB will start reducing interest rates next month, five months before the Fed.
Deutsche Bank announced that it carried its upward expectations for the dollar to the second half of the year.
Deutsche Bank carried its bullish expectation about the dollar to the second half of the year, arguing that if US bond yields remain higher than other developed countries, cuts in US interest rates will have a limited impact on the currency.
"The dollar will remain the second-highest-yielding currency in the developed world, a situation that has historically supported portfolio inflows," George Saravelos, the bank's global head of foreign exchange research, said in a note.
Markets have hawkishly repriced the Fed's and US economic resilience as the #UScurrency has outperformed all G-10 currencies so far this year, lifting the Bloomberg Dollar Spot Index by almost 3 percent.
In his note, Saravelos added that an unexpected weakening of the US economy or a possible Trump administration stance in favor of a weak dollar policy would pose the biggest risks to his view.
On the other hand, Saravelos, who also saw a downward trend in the Swiss franc and Swedish krona, noted that the ECB will start reducing interest rates next month, five months before the Fed.
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$BTC
IMPORTANT DEVELOPMENTS
Since the growth rate of the US economy is announced to be much lower than expectations, the FED will start to reduce interest rates early. Good luck in advance. Markets are now aware of this and have started to pre-price #BTC. May our path be clear. A new era is beginning in which we will provide high profits.
IMPORTANT DEVELOPMENTS
Since the growth rate of the US economy is announced to be much lower than expectations, the FED will start to reduce interest rates early. Good luck in advance. Markets are now aware of this and have started to pre-price #BTC. May our path be clear. A new era is beginning in which we will provide high profits.