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Kinobi Now Supports Core Generation of Anchor Types on Metaplex

According to Odaily, Metaplex, a Solana ecosystem NFT platform, has announced that Kinobi now supports the generation of Anchor types for Core. This development aims to streamline integration by eliminating Rust hacks and enhancing compatibility. The move is expected to increase development speed and simplify workflows. The integration of Kinobi with Metaplex's platform is a significant step towards improving the overall functionality and user experience. By supporting the generation of Anchor types for Core, Kinobi is expected to provide a more seamless and efficient development process. The elimination of Rust hacks is a crucial aspect of this update. It is anticipated to reduce potential issues and obstacles that could hinder the development process. Furthermore, the enhancement of compatibility is expected to facilitate smoother integration, thereby improving the overall workflow. This development is a testament to Metaplex's commitment to continually improve and innovate their platform. The integration of Kinobi and the support for Core generation of Anchor types is a significant move that is expected to positively impact the platform's functionality and user experience.
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Aave Community Proposes Creation of New Safety Module Category for Gyroscope

According to Odaily, the Aave community has proposed the creation of a new safety module (SM) category for Gyroscope, based on Balancer v2. The proposal, known as 'Safety Module - Creation of GHO/USDC E-CLP Category' (ARFC), suggests the inclusion of GHO/USDC E-LCP in FastPass. The Aave community's proposal aims to enhance the security and efficiency of transactions within the platform. By creating a new safety module category for Gyroscope, the community hopes to provide a more secure environment for users. The proposed GHO/USDC E-CLP category is expected to streamline operations and improve the overall user experience. The inclusion of GHO/USDC E-LCP in FastPass is another significant aspect of the proposal. FastPass is a feature that allows for quicker and more efficient transactions. By including GHO/USDC E-LCP in FastPass, the Aave community aims to further enhance the speed and efficiency of transactions on the platform. The proposal is currently under review by the Aave community. If approved, it could mark a significant step forward in improving the security and efficiency of the platform. However, it is important to note that the final decision will be made by the Aave community, and the implementation of the proposal will depend on their approval.
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Binance Market Update (2024-05-25)

The global cryptocurrency market cap now stands at $2.50T, down by -3.81% over the last day, according to CoinMarketCap data. Bitcoin (BTC) has been trading between $66,922 and $69,250 over the past 24 hours. As of 09:30 AM (UTC) today, BTC is trading at $69,077, up by 2.85%. Most major cryptocurrencies by market cap are trading higher. Market outperformers include GFT, BB, and REN, up by 34%, 31%, and 20%, respectively. Top stories of the day: Glassnode Data: Over 80% of ETH Tokens Unmoved in Past 6 Months, Indicating Long-Term Investor Sentiment Bloomberg ETF Analyst: Ethereum ETF Lacks A Simple Narrative to Appeal to Baby Boomers US Bank Foresees Inflation Risks Due to Strong Service Sector Spending Bitcoin and Altcoins Experience Price Fluctuations, Uniswap and PEPE See Significant Gains BlackRock's Ethereum ETF Listed By Depository Trust And Clearing Corporation QCP Capital Advises Investors: Accumulate Ethereum Before ETF Launch Major US Stock Indexes Close Higher with Technology Stocks Leading the Rise Three Major Investment Firms Make Significant Investments in Bitcoin ETFs in Q1 Goldman Sachs Predicts Fed Rate Cuts in September and December Amid Stubborn Inflation Concerns Crypto Analyst: Institutional Capital Likely to Surge Following Approval of Ethereum ETF Market movers: ETH: $3751.31 (+2.39%) BNB: $602.9 (+1.43%) SOL: $169.21 (+2.65%) XRP: $0.5356 (+2.21%) DOGE: $0.1676 (+6.12%) ADA: $0.4635 (+0.91%) AVAX: $38.33 (+2.79%) SHIB: $0.00002493 (+4.53%) WBTC: $69075.54 (+2.70%) DOT: $7.295 (+2.11%) Top gainers on Binance: GFT/USDT (+34%) BB/USDT (+31%) REN/USDT (+20%)
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South Korean Regulators Face Pressure to Approve Cryptocurrency ETFs

According to Odaily, following the recent approval of the Ethereum ETF19B-4 form by the U.S. Securities and Exchange Commission (SEC), South Korean regulators are facing increasing pressure to approve cryptocurrency ETFs. The SEC's decision on Ethereum is expected to put pressure on South Korean financial regulators, forcing them to reconsider their stance on digital assets. Unlike the U.S., the Financial Services Commission (FSC) and the Financial Supervisory Service (FSS) in South Korea have been cautious about introducing crypto asset trading in traditional securities markets. According to FSC regulations, ETFs must strictly comply with the Capital Markets Act, which stipulates that ETFs must only be linked to traditional underlying assets. These assets include mature financial instruments, securities, international currencies, and commodities, which provide the basis for financial derivatives. Xangle, a digital currency data provider based in Seoul, has publicly opposed the ban on digital assets in traditional securities markets, calling it 'outdated' and in need of revision to adapt to the increasingly important role of digital assets in modern finance. Jung Eui-jung, head of the Korean Stockholders’ Alliance, also emphasized the importance of Seoul following the U.S. and approving Bitcoin and Ethereum ETFs. Jung warned that if South Korean regulators continue to make no progress while the U.S. is making advances, investors may shift their funds to the U.S. market, stating that 'it is only a matter of time before the U.S. fully opens the door to other cryptocurrencies with smaller trading volumes.'
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Bitcoin and Altcoins Experience Price Fluctuations, Uniswap and PEPE See Significant Gains

According to CryptoPotato, Bitcoin's price has seen notable fluctuations in recent days, dropping to under $66,500 before rising to just over $69,000. Altcoins have also seen a slight increase, with Uniswap (UNI) experiencing a significant 20% surge, pushing its value over $10. PEPE, another altcoin, has reached a new all-time high. The US Securities and Exchange Commission's approval of eight spot Ethereum ETFs on Thursday has been a major development in the cryptocurrency industry this week, primarily impacting Ethereum (ETH). This news, coupled with the surrounding hype, triggered a substantial rally for ETH, which rose from $3,100 on Monday to over $3,900 mid-week before slightly retracing to its current position of $3,750. Several other altcoins have also seen substantial gains this week, including PEPE, which increased by another 12% in the past day, reaching a new all-time high of $0.00001538. Uniswap's native token, UNI, has also seen a significant increase, soaring by 20% and now trading close to $11. Other altcoins such as XRP, DOGE, TON, SHIB, DOT, IMX, and NEAR have also seen increases. The total crypto market cap has recovered over $60 billion since yesterday and now sits close to $2.7 trillion. Bitcoin's price was also affected by the Ethereum ETF news, rising from $67,000 to a multi-week peak of $72,000 on Monday and Tuesday before retracing in the following days. The most significant price decline came on Thursday, just hours before the US SEC announced its decision, dropping BTC to under $66,500. However, the asset bounced back, experienced further fluctuations, and began to rise again last night, reaching just over $69,200. Currently, Bitcoin trades just below $69,000, with a market cap of $1.350 trillion and a dominance over the altcoins of 50.2%.
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Ethereum ETF Approval Not Enough to Boost Market, Further Approvals Awaited

According to U.Today, the recent approval of the Ethereum ETF was not met with the anticipated market reaction. Despite the approval, Ethereum has struggled to surpass the local resistance level and has even retraced further. The current approval only pertains to 19b-4s and not the more significant S-1s. This means that while a step has been taken toward greater acceptance, the bigger, more impactful approvals are still pending. The market is aware of this and is not showing much excitement until the S-1s are also approved. This is a classic case of the market pricing in expectations — partial approval is good but not groundbreaking. The ETF approval was handled by the Division of Trading and Markets using 'delegated authority.' This suggests that a commissioner could still challenge the decision within the next 10 days. There is a sense of uncertainty in the market, knowing that this approval might not be the final word. It seems like they are trying to sneak this through, keeping the vote somewhat under the radar due to its political nature. These factors create a situation where the Ethereum ETF approval, while positive, is not a guaranteed ticket to the moon. There remains political maneuvering, and further approvals needed to solidify the move. Additionally, against the backdrop of broader regulatory and economic uncertainties, investors are playing it safe for now. Despite the lack of momentum, Ethereum is still looking well positioned for a rally; above numerous key technical resistances, cheap network fees might attract more activity and a fair price level ahead of the major $4,000 threshold.
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Kabosu, The Iconic Face Of Dogecoin, Passes Away At 19

According to U.Today, Kabosu, the Shiba Inu dog who became the face of Dogecoin and a significant meme figure, has passed away in Japan at the age of 19. The news was reported by her owner, Atsuko Sato, marking a significant moment for the meme community and cryptocurrency enthusiasts globally. Kabosu gained internet fame in 2010 when her photos went viral, leading to the creation of the 'Doge' meme. This meme, characterized by Kabosu’s expressive face and humorous captions in broken English, became a cultural phenomenon. In 2013, Kabosu's image was adopted as the mascot for DOGE, a new cryptocurrency initially started as a joke. However, it soon grew into a serious player on the crypto market. Dogecoin’s official account paid tribute to Kabosu, highlighting her immeasurable impact on the world. They noted that she was a symbol of happiness and love, whose spirit touched and shaped many lives globally. Since its launch over a decade ago, Dogecoin (DOGE) has achieved significant milestones, becoming the eighth largest cryptocurrency with a market capitalization of $22.85 billion and a daily turnover in the billions. The popularity and success of Dogecoin can be largely attributed to Kabosu’s endearing presence on its logo, which captured the hearts of many. Kabosu played a crucial role in uniting a diverse community of cryptocurrency enthusiasts. Without her, the landscape of meme-based cryptocurrencies, a sector now worth $58 billion, might not exist.
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Shiba Inu Struggles Amidst Market Uncertainty and Decreased Whale Activity

According to U.Today, Shiba Inu's recent price performance has been less than positive, with the asset struggling to maintain its position above the local support level of approximately $0.000025. This is indicative of a market that is not yet ready for a growth phase. Shiba Inu has succumbed to strong selling pressure, causing the price to fall below key support areas to around $0.0000239. This coincides with a decrease in large transactions, suggesting a drop in activity by large holders, also known as whales. Over the past week, there has been a significant decrease in the number of high-value transactions. From a seven-day high of 341 transactions, only 82 large transactions have been conducted in the last 24 hours. This suggests that whales are reducing their positions, which weakens the buying pressure needed to maintain higher prices. In the past 24 hours, the volume of large transactions amounted to 3.36 trillion SHIB, compared to a seven-day peak of 5.7 trillion SHIB. This indicates some relief in the activity of large holders, but it also hints at continued bearish pressure. Adding to the concerns surrounding the token, only 61% of holders remain profitable at the current price level, while 35% are at a loss. The concentration by large holders remains high at 73%, but the decreasing transaction volume suggests increased activity among these large holders. Another potential issue is the possible bearish cross of the 50-day and 100-day EMAs. A break below such a level could increase selling pressure, potentially pushing SHIB to further lows of support around $0.000022 and possibly even down to $0.000018.
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AI Crypto Products Surge Amid High Demand for Compute Power

According to U.Today, the demand for compute power is currently experiencing a significant increase, which is reflected in NVIDIA's recent earnings report. This has led to a rise in AI crypto products. The NEAR Protocol, which is working on building the largest AI consumer chain for users, has increased its efforts in this direction. The protocol is considering an AI developer incubation program to attract developers and provide support in various AI subsectors. This could potentially boost innovation and adoption within the NEAR ecosystem. Another example is AO, which combines data storage on Arweave with the horizontal scaling of computation in an extremely efficient layer. This combination addresses common issues such as memory usage and compute workloads, while expanding the potential use cases for on-chain agents. Several projects are already being developed on top of AO, including Autonomous AF, 0rbitco, and aox_xyz. The AO ecosystem is expected to make a major announcement in early June, which could provide further incentives for development. The Ora Protocol has created a model that can be tokenized through its Initial Model Offering (IMO). Token holders are incentivized through revenue sharing, using the Ora-pioneered ERC-7461 standard for the fair and transparent distribution of ETH rewards. The team is also proposing additional standards based on AI to support the sector's growth. However, despite the presence of many 'Web3 Hugging Faces', none offer sufficient incentives to contributors to support the sustainability of these models, a problem that the Ora Protocol aims to solve.
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