"Solana Blockchain Performs Strongly in This Bull Market Cycle"

Former NBA star Paul Millsap said that he has recently conducted in-depth research on blockchain technology, especially the Solana ecosystem, and has purchased multiple Meme tokens such as JUP, WIF, SC, NUB, MICHI, and WEN.

The Solana blockchain has had one of the strongest performances of this bull cycle, with a significant increase in network activity and integrations despite experiencing outages and technical challenges in the past.

Data shows a record 55 million new addresses were created between March and April, helped by the MemeCoin craze and increased activity on decentralized applications such as DePINs.

One of the latest companies to join the Solana ecosystem is PayPal. The fintech company integrated its stablecoin PayPal USD (PYUSD) into the network on May 29, aiming to expand its utility in daily transactions. Interoperability protocol LayerZero has also included Solana in its network of over 70 chains. According to LayerZero, Solana’s high throughput and low transaction fees make it suitable for “decentralized applications, especially in the DeFi, NFT and gaming sectors.”

Solana's growth has not been without challenges. There are still concerns about cyber resiliency in the ecosystem, especially after a series of outages. According to its foundation, a full version of the Firedancer upgrade will be released in the coming months.

👽 Personally, I believe that with the continuous expansion of the Solana ecosystem and the emergence of innovative projects, every correction of Solana is an opportunity to buy regular quotas.
#SOLANA #meme板块关注热点

"Powered by Bitcoin and AI, El Salvador's GDP could grow 10 times in the next five years"

Cathie Wood said she met with Salvadoran President Booker to discuss the possibility of using Bitcoin and artificial intelligence to promote economic and educational reforms. President Bukele plans to expand El Salvador's GDP tenfold during his next five-year term.

At present, El Salvador's GDP base is relatively low, about US$30 billion, and the average monthly income is only US$450. President Bukele is familiar with the Laffer Curve and readily accepted the proposal to introduce ARK Educate’s technologically innovative curriculum, including robotics, energy storage, artificial intelligence, blockchain and multi-omics, into El Salvadoran schools.

President Bukele is determined to make El Salvador an oasis for the Bitcoin and Artificial Intelligence communities, two of the largest economic and technological revolutions in history. Wood believes these initiatives will drive El Salvador's GDP growth tenfold over the next five years.

👽 Personally, I think Bitcoin has high security and programmability. Fast payments and decentralized AI governance are possible through Bitcoin L2 technology. El Salvador can use these advantages to attract global scientific and technological talents and investment, enhance its position in the digital economy and smart technology fields, and promote rapid economic growth.

#BTC #AI $BTC

"Global Bitcoin ETF manages over 1 million BTC"

Bitcoin is about to break through its previous high and head towards $75,000? !
According to Boldreport, all Bitcoin ETFs worldwide collectively hold more than 1 million Bitcoins, a milestone first achieved on March 12. These ETFs are located in various countries including the United States, Sweden, Hong Kong, Germany, Switzerland, Canada, Brazil, and Australia.

U.S.-based Bitcoin ETFs lead the way, with Grayscale GBTC holding about 292,000 BTC, followed by BlackRock IBIT holding about 280,000 BTC and Fidelity FBTC holding 162,000 BTC. Together, these three giants hold approximately 734,000 BTC. Total net inflows into U.S. Bitcoin ETFs have now reached $13.7 billion, according to data from Farside.

According to Lookonchain monitoring, U.S. spot Bitcoin ETF data on May 27 showed:
- Grayscale GBTC increased its holdings of 216 Bitcoins, worth approximately $15 million, and currently holds a total of 289,041 Bitcoins, worth approximately $20.2 billion;
- BlackRock increased its holdings of 2,642 Bitcoins, worth approximately $89.7 million, and currently holds a total of 287,168 BTC, worth approximately $20.08 billion;
- Nine U.S. Bitcoin ETFs added a total of 3,028 Bitcoins worth approximately $211.8 million.

👽 Personally, I believe that the magnitude of Bitcoin’s retracement may become smaller and smaller. If it breaks through again and stands at $70,000, it will reach a new high. Be sure to hold on to the small coins in hand, don't fall down before dawn.

#BTC
#WeAreMars

"Spot Ethereum ETF finally passed, trading may start in a few weeks"

The SEC officially approved the 19b-4 filings for eight spot Ethereum ETFs, including BlackRock, Fidelity, Grayscale, Bitwise, VanEck, Ark Investment, Invesco Galaxy, and Franklin Templeton. Although these ETFs have been approved by the 19b-4 document, the issuer cannot start trading until the S-1 registration statement becomes effective. The SEC is currently discussing the details of the Form S-1 with the issuer, a process that is expected to take several weeks.

James Seyffart said that the approval of the spot Ethereum ETF was issued through an authorized body, which means that no public committee vote is required, but any committee member can challenge it and request a review or vote. Nonetheless, these approvals are a done deal. Dissenting committee members may vote against it based on their opposition to a Bitcoin ETF. He also mentioned that while it was hoped that requesting a review would not change any decisions, it might provide more insight into the decision-making process over the past week, with the only possible reason being political.

Bloomberg ETF analyst James noted that typically this process takes several months, sometimes as long as five months. But Eric, another ETF analyst, believes the process may be accelerated this time.

In the past 24 hours, the entire network liquidated 363 million U.S. dollars, and the amount of ETH liquidated
Super BTC. Data shows that long positions were liquidated at US$262 million, and short orders were liquidated at US$100 million. The liquidation of BTC was US$70.2129 million, and the liquidation of ETH was US$137 million.

#ETH #BTC $ETH

"Happy Bitcoin Pizza Day"

🍕The origin of Bitcoin Pizza Day began on May 22, 2010, which was the first physical transaction in Bitcoin history. Programmer Laszlo Hanyecz used 10,000 Bitcoins to buy two pizzas.

At the time, Bitcoin was still in its early stages of development, and this transaction demonstrated the practical application of Bitcoin as a payment method. At that time, 10,000 Bitcoins were worth approximately $41, but today, those Bitcoins are worth approximately $700 million.

Bitcoin Pizza Day is not only an important anniversary for the cryptocurrency community, but also a landmark day. Let's celebrate together!

#BTC
#BitcoinPizzaDay $BTC

Bitcoin broke through $68,000 last night and once again stood at $71,000.
Ethereum ETH has increased by 20.74% in the past 24 hours and is now trading at $2,715.

"Spot Ethereum ETF approval chance increased from 25% to 75%? 》

The SEC will approve the 19b-4 filing for the spot Ethereum ETF as soon as Wednesday.

Bloomberg senior analyst Eric Balchunas said that the approval probability of the spot Ethereum ETF has increased to 75%. However, this is a 19b-4 filing for the VanEck deadline of May 23. We also need to wait for the S-1 filing to be approved, a process we expect could take anywhere from a few weeks to a few months. Even so, if theoretical approval materializes later this week, it should mean approval of the S-1 filing is only a matter of time.

19b-4 documents are filed by exchanges and usually relate to changes in the rules for the exchange's operations, such as the introduction of new products or modifications to trading mechanisms. The SEC will review the proposal and solicit public comment before deciding whether to approve it. The S-1 document is a registration statement that a company must submit before issuing shares to the public. It details key information such as the financial status, operating conditions, market environment, preliminary pricing, and risk factors of the issuing company.

The chief legal officer of Variant Fund believes that if the spot Ethereum ETF is approved, it may mark a major shift in U.S. cryptocurrency policy. He noted that everyone close to this process in Washington would be shocked. Approval following the SAB 121 vote could be more significant than the ETF itself and mean a significant change in U.S. cryptocurrency policy.
$BTC $ETH #以太坊ETF批准预期 #ETH #BTC

"SOL price could return to $200 by the end of this month? ! 》

Bitcoin hit $67,450 on Friday, with ETH and SOL also rising.

🧬 Solana hit $174, a new high in more than a month, before easing back slightly to $170, up more than 40% from its early May bottom.

🕵️‍♂️ The co-founder of digital asset hedge fund Syncracy Capital said SOL’s performance in this rally has been incredible. He is increasingly confident that SOL can regain $200 by the end of the month and reach new all-time highs soon. SOL reached an all-time high of $260 at the peak of the bull market in November 2021.

Currently, the total market value of the Solana ecosystem is $224.8 billion, and the 24-hour transaction volume is $64.3 billion. The Solana meme coin has a total market capitalization of $7.7 billion and a 24-hour trading volume of $1.2 billion.

The Solana ecology continues to heat up, and the multi-pronged approach of meme coins and NFTs has made the encryption market realize that this "Ethereum killer" who was once considered the most likely is back?

I personally believe that the meme coin craze on the Solana chain is one of the main driving forces behind its rise.
#Solana⁩

"U.S. core CPI monthly rate cools for first time in 6 months"

The United States released CPI data for April, with an annual rate of 3.4% without seasonally adjustment, in line with market expectations. In addition, the core CPI monthly rate in April reached 0.3%, the lowest level since December last year.

🕵️‍♂️ Market expectations that the Federal Reserve may cut interest rates in September and December have become firm. But Fed Chairman Powell said yesterday that the Fed will "need to be patient and let restrictive policies work." Some policymakers don't expect any interest rate cuts this year.

📊 After the CPI data was released, the U.S. dollar index DXY fell sharply by nearly 40 points in the short term and is currently at 104.2. At the same time, the price of Bitcoin BTC has fluctuated greatly, rising by US$5,000, or 7.7% in the past 24 hours, and is currently at US$66,331.

Typically, risk assets prefer a weaker dollar. The U.S. Dollar Index DXY is critical to Bitcoin’s cycle as it reflects the market’s expectations for liquidity in real time. Market liquidity is currently increasing. We need to keep a close eye on DXY’s 101-102 level, as a break below this level could push Bitcoin prices to previous highs above $70,000 this cycle.

👽 My personal opinion is that it is not advisable to chase prices easily under the current circumstances, because as long as the U.S. stock market has not yet cut interest rates, opportunities for bargain hunting still exist. Pay attention to the daily MA30 indicator of Bitcoin. If the price falls back to support and stands firm, there will be a good upward trend. Remember that every dip can be used as an opportunity to gradually build a position.
#美国4月CPI数据回落 #BTC

Meme coin TRUMP exceeded $5.8, with a 24-hour increase of over 34%. It is currently quoted at $5.7, with a 24-hour increase of 28.5%.

Former U.S. President Trump stated at an impromptu press conference that he would stop the United States’ hostility towards cryptocurrencies and stated that he would embrace cryptocurrencies. Trump said he had "no problem" with cryptocurrencies and mocked Biden for not even knowing what cryptocurrencies are. He also hinted that if you support cryptocurrencies, you’d better vote for him.

Currently, Trump’s presidential campaign does not accept cryptocurrency donations, but during a press conference, when asked if he could donate using cryptocurrency, Trump said that if you can’t, he will make sure that you can do it.

At the same time, BODEN is a token named after US President Joe Biden. After former President Trump answered a reporter's question, BODEN broke through $0.44 in the short term and is now trading at $0.366.

💡Before the election, you can buy some of both for self-defense before the correction!
#Meme币你看好哪一个？
#Meme代币

Yesterday, spot Bitcoin ETF GBTC had a net inflow of US$3.9 million, the second consecutive trading day; ARKB had a net inflow of US$76 million; BITB had a net inflow of US$2 million.

According to HODL15Capital data, the U.S. Bitcoin ETF had a net inflow of $218 million.

Since its listing, the Hong Kong Bitcoin Spot ETF has held 4,388 BTC, with a total fund management scale of approximately US$276 million.

💡The price of BTC rose to $65,500 yesterday and then fell back to $62,700. In the 4-hour chart, the MA120 has gained support and once again challenges the resistance level of $65,000. If it successfully breaks through, the next resistance level will be $68,000. For short-term operations, you can reduce your position and arbitrage, leaving a bottom position.

⚠️It should be noted that the 5 days before and after the new moon may be a periodic high, which means that it is not easy to chase higher during this period.
#BTC

BTC once again stood back at $60,000, breaking through $64,500. The total market value of cryptocurrencies rose back to more than $2.45 trillion, with a 24-hour increase of 5.6%.

"Tesla website adds Dogecoin as a payment method"

Tesla announced on its website that Doge has been added as a payment method.

For products that can be purchased with Dogecoin, you will see the Dogecoin symbol next to the order button and simply transfer the Dogecoin to your Tesla Dogecoin wallet and pay.

Tesla also added that products that can be paid with Dogecoin will be clearly displayed with the Dogecoin price (including tax). In addition, Tesla only supports Dogecoin for virtual asset payments. The market situation shows that DOGECOIN exceeded $0.17, with an intraday increase of more than 20%.
#BTC #DOGE

When BTC prices consolidate in a triangle, investors should be wary of a potential false breakout. The latest correction has brought Bitcoin’s relative strength down to 40%, similar to three previous corrections since early 2023. Redefining the bull/bear market price line may change the previous market view, which was previously regarded as a bearish signal at $68,300.

Personally, I believe that if Bitcoin can rise back above $60,000 and remain stable, it may usher in a good rebound. Another scenario is that the price falls below US$58,000 to US$56,000 and continues to consolidate and repair, which will provide investors with sufficient time to make fixed investment purchases.

[BitMEX co-founder Arthur Hayes said in his latest blog post titled "Danger in May" that he is optimistic about the trend of Bitcoin. 】

He analyzed the potential impact of recent changes in U.S. monetary policy on the crypto market. He pointed out that the Federal Reserve decided to reduce the monthly balance sheet shrinkage rate from US$95 billion to US$60 billion, which is equivalent to US$35 billion in new liquidity per month.

At the same time, the U.S. Treasury Department revealed in its latest quarterly borrowing and repayment report that in order to meet funding needs before the end of May, it will issue additional short-term Treasury bonds with maturities of 4, 6 and 8 weeks in the near future, which is expected to bring additional liquidity to the market. USD liquidity.

He mentioned that after Republic First Bank, a small U.S. bank, went bankrupt, the FDIC used insurance funds to protect the interests of all depositors in order to avoid a run on deposits. This means that the U.S. authorities have essentially added $6.7 trillion in contingent liabilities to the banking system across the country.

He believes that these factors will continue to inject dollars into the market, reduce the downward pressure on cryptocurrencies, and promote Bitcoin to stabilize and rebound in the coming months. He predicted that Bitcoin may have bottomed near $58,600, and will then return to above $60,000 and consolidate in the $60,000-70,000 range until the end of the northern hemisphere summer. He also revealed that he is optimistic about the rebound market and is currently buying SOL and other tokens at low prices.
#BTC

"Americans are buying BTC, while ETH is being bought by Sun Ge, born in the 1990s. 》

The most honest thing about Brother Sun is his actions on the chain. Lookonchain monitoring shows that Brother Sun once again purchased 21,547 ETH, totaling approximately US$67.5 million. Since April 8, he has purchased 176,117 ETH at an average price of $3,172, for a total amount of $559.7 million.

The crypto VC market continued to recover in March and April 2024, with 161 separate deals completed in March, setting a 12-month record, with total investment exceeding $1 billion, a 52% increase from the previous month. Although April is not over yet, 90 transactions have been completed so far, attracting more than US$820 million in investment and financing.

#ETH #BTC

"Bitcoin is still on track to hit $150,000 by the end of the year⁉️"

Data shows that the BlackRock Spot Bitcoin ETF has achieved net inflows for 70 consecutive days, reaching $19.8 million, making it one of the ETFs with the longest daily inflows. Grayscale’s spot Bitcoin ETF GBTC has been one of the largest cryptocurrency funds, maintaining its lead despite facing continued outflows.

Analysts pointed out that Bitcoin miners continue to lose money compared to BTC and are highly dilutive to shareholders.
Within 6 months after the 2020 halving, miners experienced a 50% decline, followed by explosive 150% excess returns that lasted 3 months to March 2021.
The ratio chart of market cap to equal weighted index shows a bias toward larger companies, with listed miners accounting for over 30% of the hash rate, with large miner MARA growing rapidly. He believes that Bitcoin miners are good trading tools but have poor value storage capabilities.
Things may change as large miners take on more hashrate and the industry consolidates. However, in the long term, this is concerning. He hopes more small-scale and nation-state recognition of emerging markets will help offset this trend.

Meanwhile, the United Arab Emirates leads the Middle East in cryptocurrency adoption, with 72% of local users invested in Bitcoin. Last year, daily cryptocurrency trading volume in the region grew by 166%, with an average of 500,000 local cryptocurrency traders in 2024. Standard Chartered analysts say Bitcoin is still on track to reach $150,000 by the end of the year.

💡Personal opinion: I think Bitcoin is currently in an upward trend. By adopting a bottom-fixing investment strategy, increasing spot positions, and taking into account macroeconomic factors such as possible interest rate cuts in Q3-Q4 in the United States, it is expected that funds will continue to pour into the crypto market, pushing the price of Bitcoin to climb to $150,000, starting a bull market.
#BTC

"#BTC has completed the fourth halving"

⛏️According to Blockworks news, ViaBTC mined the 840,000th BTC block.

📊Data shows that at 8:09 on April 20, 2024, BTC successfully completed the fourth halving at block height 840000. The mining reward of the Bitcoin network was halved from 6.25 BTC to 3.125 BTC. The last halving occurred. On May 11, 2020.

⛽️Bitcoin halving caused a sharp surge in Bitcoin network transaction fees, with high priority increasing to 1182 sat/vB about $105.08, medium priority increasing to 925 sat/vB, and low priority increasing to 637 sat/vB. The number of unconfirmed transactions on the entire network is 220,116.

🕵️‍♂️It is reported that the first BTC halving time was November 28, 2012, the block height was 210,000, and the maximum increase in the second half of the halving was 2022.26%; the second BTC halving time was July 9, 2016 , the block height is 420,000, and the maximum increase in the second half of the year is 75.70%; the third BTC halving will be on May 11, 2020, the block height is 630,000, and the maximum increase in the second half of the year is 81.37%.
#Bitcoinis the Future! LFG🚀

"Bitcoin halving is not a good event⁉️"

Many believe that the Bitcoin halving will be a positive event, as in previous halving cycles, Bitcoin prices have typically surged to new all-time highs.

🕵️‍♂️ However, 10x research analyst Marcus Thielen said that previous halvings did not directly lead to bull cycles, but were driven by the macro environment.

He believes that the current market lacks catalysts to push prices higher. As macroeconomic uncertainty hangs over the cryptocurrency market, it is expected that Bitcoin may fall to $50,000 in the coming weeks. In addition, spot Bitcoin ETFs have not seen new inflows as investors have already experienced the initial excitement in January, resulting in the loss of the typical drivers of prices from $40,000 to $70,000.

"ETF inflows did not stop suddenly, but stopped around March 12, when the Consumer Price Index and Producer Price Index were released."
📊 Data shows that Grayscale Spot Bitcoin ETF GBTC had a net outflow of US$90 million yesterday (April 18), equivalent to 1,420 Bitcoins. Since GBTC was converted to an ETF, 314,225 Bitcoins have flowed out. Currently, GBTC holds 304,970 Bitcoins, down from 620,000 Bitcoins in January when the fund converted to an ETF. In the past 3 months, GBTC has reduced its holdings of Bitcoin by 51%.

⚠️ From late last year to early 2024, traders generally expected the Federal Reserve to cut interest rates multiple times this year, while expecting inflation to continue to decline. The expectation has driven risk assets such as technology stocks and cryptocurrencies sharply higher. However, the most recent March inflation report showed that inflation remains above the Fed's 2% target, leading the Fed to repeatedly express uncertainty about whether it will be able to cut interest rates this year.

💡 Personally, I believe that although the Bitcoin halving is a positive factor, Bitcoin’s return to new highs may require range consolidation that lasts for several weeks and is affected by the macro environment. Perhaps the market is giving investors an opportunity to accumulate more chips.
#BTC #比特币减半

"There are only about 5 days left before the Bitcoin block reward is halved, and data shows that there are still 738 blocks left. 》

Global cryptocurrency investors are showing increasing interest in the upcoming Bitcoin halving event. A survey of more than 2,000 Australian cryptocurrency investors showed that more than 80% of respondents believed that the halving would be positive for the industry, and more than half expected Bitcoin prices to rise as a result. The Bitcoin halving event occurs every four years and is designed to maintain the scarcity of the coin and combat inflation by reducing mining rewards by 50%.

The Crypto market fluctuated violently again over the weekend, with the price of Bitcoin once plummeting by more than $6,000, from $67,100 to less than $61,000, and three other currencies fell by more than 30%. According to HODL15Capital news, the mysterious address "Mr.100" once again bought Bitcoin at low prices, with the purchase amount of 200 BTC that day.

According to Arkham’s announcement, the data of seven leading US/Canadian listed mining companies have been integrated, with a total market value reaching US$12.71 billion. These miners hold a total of $2.79 billion worth of Bitcoin in 782 separate wallets, including:
1. Marathon Digital Holdings (MARA): BTC holdings: US$1.13 billion;
2. CleanSpark (CLSK): BTC holdings: US$195.8 million;
3. Riot Platforms (RIOT): BTC holdings: US$583.8 million;
4. Cipher Mining (CIFR): BTC holdings: $88.1 million;
5. Hut 8 Corp (Hut): BTC holdings: $608.8 million;
6. Bitfarms (BITF): BTC holdings: $28.1 million;
7. HIVE Digital Technologies (HIVE): BTC holdings: $156 million.

"New Generation Investment Trends: Gen Z prefers Crypto to traditional stocks"

A new generation of investors, known as Gen Z, is more likely to choose cryptocurrencies over traditional stocks, creating a stark difference from their predecessors, according to a survey conducted by Policygenius. The survey shows that about 20% of Gen Z own cryptocurrencies, while only 18% hold stocks. In comparison, 33% of baby boomers own stocks, but only 5% are invested in cryptocurrencies.

This trend reflects the different approaches to financial planning between younger generations and older generations. They are more willing to take risks and try new types of investments, and cryptocurrency is an area that is getting a lot of attention. However, this shift may also be affected by external factors, such as a growing housing shortage.

The survey also found that younger generations are no less likely to own cryptocurrency than to own real estate. While 13% of Gen Z and 24% of Millennials still own real estate, 45% of Baby Boomers also own property. This reflects the reality that buying a home is becoming increasingly difficult, especially with high interest rates and low inventory.

Another survey conducted by the Financial Industry Regulatory Authority Foundation and CFA Institute came to similar conclusions, with about 56% of Gen Z owning some investments, with about 55% choosing cryptocurrencies and 41% choosing individual stocks. . This shows that cryptocurrencies have become an important part of the new generation of investment portfolios.

💡Personal opinion: The preferences of the new generation of investors are changing, and they are more willing to accept emerging financial tools and technologies to cope with the changing economic environment. Cryptocurrency is an emerging asset class that has attracted the attention of young people. Such as NFT, DeFi ecosystem and Staking. These emerging financial instruments and technologies provide investors with more choices, but they also need to be treated with caution because market volatility and risks cannot be ignored.
#BTC #web3

"Web3 is about to explode on a large scale"

The next ten years will be the "1995 moment" of Web3, which indicates that Web3 applications will usher in an explosion and value discovery in the next ten years. Xiao Feng’s closing speech at the Hong Kong Web3 Carnival pointed out that blockchain technology has completed the stage from 0 to 1 and is now in the critical period from 1 to 10, indicating a large-scale explosion of applications. He believes that 2024 to 2034 will be the golden decade of Web3, similar to the Internet's application explosion period from 1995 to 2005.

The two pillars of Web3 are blockchain and artificial intelligence AI. Blockchain solves the "impossible triangle" problem through layering and sharding technology, and the "universal multi-modal model" of artificial intelligence also provides support for application innovation. He also called for the development of a Web3 "browser" and "graphical operating system," the latter of which may be based on AI's natural language processing technology.

Accounting methods are the cornerstone of economic and social civilization, and blockchain technology represents a fundamental change in accounting methods. Starting from first principles, he explained the three major evolutions of accounting methods in human history: single-entry accounting, double-entry accounting, and the emergence of distributed ledgers. Blockchain technology is regarded as the fourth major evolution, creating an open and transparent "global public ledger" and bringing far-reaching impact to the economy and social civilization.

In my opinion, with the continuous emergence of disruptive innovations such as digital nativeness, digital autonomy and value sharing of the Web3 platform, as well as the leadership of the development model from edge to core, from native to twin, Web3 is expected to achieve application development in the next ten years. Explosion and discovery of value. This outbreak will have a profound impact on the economy, society and culture, shaping new business models and social structures.

#BTC #web3