Crypto investment products recorded $932 Million in inflows last week. Inflows recorded after US inflation data were released accounted for 89% of total flows.
🗞️ The US Department of Justice (DOJ) appointed a London-based consulting firm as an external auditor of Binance, after finding Binance, the world's largest crypto exchange, guilty in court on charges of violating US money laundering (AML) regulations and sanctions laws.
🗞️ Ripple is opening a B2B business development position in Japan.
Is the decline in XRP over yet? The cryptocurrency market is facing a rebound over the weekend, according to CoinStats.
CoinStats' XRP chart<br /> XRP/USD
XRP price has remained almost unchanged since yesterday.
Image: TradingView<br />
On the hourly timeframe, XRP price touched the $0.5032 support once again. In case of a breakout, there are chances to see the $0.5020 zone soon. Image: TradingView<br /> On the daily chart, the price made a false breakout at yesterday's candle top. If the bar closes near the low, investors could witness a continued decline to $0.50 next week.
According to Famous Analyst: The Danger in Bitcoin Will End on This Date!
Latest analysis shows that the decline in Bitcoin's price after the halving in April is almost over. Bitcoin's price continues to fluctuate after the halving and is currently
It stands at $60,890. BTC is once again testing the support at the $60,000 level at the end of the week. BTC price holds above $60,000!
Data from TradingView showed that BTC price fell as low as $60,190.
There was a sudden decline that led to a break of the upper support near $63,000.
Ethereum's Value Fluctuation and Volatility Concerns: Glassnode Report Review
This poor performance compared to Bitcoin over the last two years is also an indicator of the weakening of the ETH/BTC rate. According to analytics firm Glassnode, Ethereum's cryptocurrency ETH has performed poorly compared to Bitcoin in the last market cycle. In their May 7 newsletter, “The Week On-Chain,” they discussed the impact of speculators on ETH prices and the ongoing challenges facing Ethereum following Bitcoin’s block reward halving in April.
In April, 138 memecoins reached record levels, according to CoinMarketCap data, and a total of 2,229 memecoins had a market value exceeding $50 billion. That's nearly equal to the market cap of JPMorgan and Tesla. While Memecoins have been criticized for their lack of use cases, analyst Arthur Hayes thinks they are important to the growth of the crypto ecosystem and could attract engineers to the space.
Solana has become a popular platform for memecoins because it is cheaper and faster compared to Ethereum. The memecoin frenzy in the first quarter pushed the price of Solana (SOL) above $200 for the first time since November 2021. Memecoin activity has shifted to blockchains like Solana and Base due to high gas fees on Ethereum. Especially Bonk in Solana and Bald in Base became popular.
On the other hand, meme token pepe (PEPE) has surged in popularity along with Bitcoin's choppy price movements in recent days, rising 17% in seven days to become the ninth best-performing cryptocurrency on the CoinMarketCap list. According to data from Kaiko, PEPE has the second highest consolidated futures open interest (OI) ratio by market capitalization ratio. The highest rate is held by another memecoin, Dogwifhat (WIF).
In Kaiko's weekly newsletter, it is stated that PEPE and WIF are performing twice as well as other altcoins. This high OI/market cap ratio indicates that an asset is well positioned in the derivatives market and price discovery occurs more intensively in consolidated futures.
In the digital asset market, cryptocurrency trading volumes fell for the first time in seven months due to rising geopolitical tensions and slowing adoption of U.S.-listed spot ETFs.
Despite Concerns About 260 Thousand SOL Sales, Solana Expects a Strong Recovery. Solana (SOL) is trying to survive in a nervous market. Due to the decline in the market, SOL is unable to surpass the psychologically important $160 level. According to CoinMarketCap, the price of Solana at the time of writing was $138.27. Concerns about big investors continue in Solana. Solana has long been associated with large investors (whales) who transfer large amounts of SOL to exchanges. Investors and small investors don't know when the next big sell-off will happen. This keeps Solana on edge because those holding the SOL do not want to be victims of big fluctuations.
🗞️ According to reports, the Australian Taxation Office has asked cryptocurrency exchanges to provide personal data and transaction details of up to 1.2 million accounts.
🗞️ The United States Department of Justice has filed a lawsuit against a Russian national accused of developing the LockBit ransomware and orchestrating its use. It is stated that this person obtained $100 million worth of Bitcoin through the use of this software.
🗞️ Binance CEO called on the Nigerian government to release Tigran Gambaryan, head of the crypto exchange's Financial Crime Compliance team.
🗞️ KBW says Robinhood will likely win the case at the SEC.
(KBW is an investment bank called “Keefe, Bruyette & Woods” focusing on the financial services sector. Specializing in investment and research, this company provides financial analysis and advisory services.)
Cryptocurrency Security: Threats, Precautions and Good Practices
Cryptocurrency is a digital asset class that has become increasingly popular in recent years. Bitcoin, Ethereum and other cryptocurrencies have been rapidly adopted thanks to their decentralized and transparent nature. However, the security and protection of these digital assets is a major concern for users. In this article, we will discuss the main threats to cryptocurrency security, precautions and good practices that can be taken against them. Key Threats to Cryptocurrency Security