European Bitcoin exchange-traded products are losing ground this year due to increased competition overseas from US rivals. Morningstar data shows European Bitcoin funds have lost more than $500 million since the start of the year, despite rising demand for Bitcoin.

At the same time, ETPs for other cryptocurrencies such as Ether have raised $42 million in the region. WisdomTree's Pierre Debrou says client interest in European crypto ETPs has "increased significantly" since the launch of US Bitcoin ETFs in January.

However, these same ETFs have brought unprecedented competition, creating a "new fee environment in Europe" that has forced European issuers to lower their fees. For example, BlackRock and Fidelity have lowered annual fees to 0.25%, offering even larger temporary discounts for early buyers.

In response to this, European Bitcoin ETP providers such as Invesco, WisdomTree and CoinShares have reduced their previous fees from levels above 0.9% to below 0.4%.

Polkadot has recently faced significant selling pressure at key resistance levels, including the 100-day moving average and the critical $7.4 level. This resistance has led to a possible continuation of the bearish trend. 👀📉

Technical analysis shows that on the 4-hour chart, Polkadot buyers failed to break through the critical resistance zone defined by the 0.5 ($7.4) and 0.618 ($7.8) Fibonacci levels, facing increased selling pressure.

Currently, Polkadot price is in a critical range, with resistance around $7.4 and support around $6.5. Any breakout from this range could trigger a cascade of liquidations, potentially amplifying the move and leading to a breakout from the range.

Bitcoin price has been consolidating for almost 3 months after reaching a new all-time high of around $74K. Despite the lack of a new peak, a new rally may soon begin. 📈

Technical analysis shows that the asset is testing the upper boundary of the channel and the $68K level. Although it has not yet managed to break out to the upside, momentum is still bullish and such a breakout could happen at any time. In this case, the market could rise to an all-time high of $75K and potentially set a new one. 🚀

Blockchain analysis shows that the Bitcoin exchange's reserve ratio has dropped sharply since February, which is considered a bullish signal as it essentially reduces supply. This tightening in supply has been one of the factors contributing to the recent rally. A reduction in the exchange's reserves could be exactly what the market needs.

The US Bitcoin exchange-traded fund (ETF) market has seen a long streak of inflows last seen in February. Bitcoin ETFs have been on a 13-day streak of inflows since May 13, 2024, according to Farside Investors. This demonstrates investor confidence in Bitcoin's potential and the continued flow of capital into the ecosystem, despite BTC's failure to set a new all-time high.

May was a good month for the Bitcoin ETF market. Three days ago, BlackRock's IBIT became the world's leading ETF by assets under management, overtaking GBTC. Additionally, the global Bitcoin ETF market now manages over one million BTC. 📈🌐

The SEC has required potential issuers to submit amended Forms S-1 by Friday, May 31, according to people familiar with the matter. This follows the approval of Forms 19b-4 on May 23, a significant milestone in the process. 📝

Despite the potential delays, JPMorgan analysts remain optimistic that ETF trading on Ethereum will begin well before November. They view ETF approval and the broader crypto landscape as increasingly politicized ahead of the 2024 US presidential election. 🗳️

Split Capital co-founder Zahir Ebtikar said the surprise announcement caught many by surprise and an immediate launch would have led to more volatile pricing. He noted that the delay allows traders to wait and prepare for potential inflows of funds.

Shibarium, the Shiba Inu network, has achieved a new record for the total number of blocks processed. Additionally, the burn rate of SHIB has increased by 350%, which could reduce supply and potentially increase cost. 🚀🔥

Shibarium, Shiba Inu's layer 2 scaling solution, has processed more than five million blocks since launching last August. The total number of transactions on the L2 blockchain exceeded 417 million, and the number of wallets exceeded 1.8 million.

The combustion mechanism of Shiba Inu is also worth noting. The burn rate has increased by 350% in the last 24 hours, resulting in the destruction of almost 10 million tokens. The Shiba Inu team has already burned approximately 41% of the maximum total supply of 999,982,356,918,347 coins.

The value of SHIB rose slightly today, following the recovery in the meme coin sector.

A US court has dismissed the Securities and Exchange Commission's (SEC) case against Digital Licensing, operating under the name Debt Box. 🏛️ The SEC was ordered to pay approximately $1.8 million in attorney and registry fees.

Debt Box confirmed the dismissal of the case, saying that any future action by the SEC must go through Judge Shelby. The decision comes after a court in March found the SEC guilty of "bad faith" in relation to the temporary restraining order and asset freeze on Debt Box.

The case has sparked debate in the cryptocurrency community, with many considering it an example of regulatory overreach. The SEC is engaged in legal battles with several cryptocurrency companies, including Binance, Kraken, Ripple and Coinbase.

The Debt Box team celebrated the court's decision, calling it a "monumental victory" for their company, the industry, and their community. 🎉

Riot Platforms Inc., a leader in the cryptocurrency mining industry, announced its intention to acquire Bitfarms Ltd., another major player in the Bitcoin mining industry. Riot has already acquired a 9.25% stake in Bitfarms and plans to make a public offer, despite the recent refusal of the company's board of directors.

Riot has proposed an acquisition price of $2.30 per share in cash and stock, valuing Bitfarms at approximately $950 million. The proposed deal will create the world's largest Bitcoin miner with a total capacity of 1 gigawatt (GW) and a mining capacity of 19.6 exahashes per second (EH/s). .

Riot's strong financial position, with minimal debt, over $700 million in cash and 8,872 Bitcoin, is a key factor in the proposed acquisition. Riot expects this to support Bitfarms' growth and provide better access to stock markets.

The proposed acquisition comes at a critical time for the Bitcoin mining industry, which is undergoing a rapid merger after Bitcoin mining rewards were halved.

In May 2024, the stablecoin ecosystem rebounded, reaching a market capitalization of $161 billion, up 0.63% from the start of the month. 📈

This is the highest level since April 2022, following eight months of steady growth, according to CCData.

However, stablecoin dominance fell slightly from 7% in March to 6.07% this month due to a recovery in crypto asset prices following the surprise approval of an Ethereum ETF in the US.

On May 29, Tether (USDT), the industry's largest, reached a record capitalization of $111 billion, increasing its dominance in the stablecoin industry to 69.3%. 💰

It is also noted that Circle’s USDC capitalization increased for six months in a row, reaching $32.6 billion in May. This coincides with increased demand as USDC pairs recorded record monthly trading volume in March.

The report highlights the recovery of the stablecoin market after losses due to the collapse of the Terra Luna ecosystem and the unpinning of the algorithmic stablecoin TerraClassicUSD (USTC), which initiated a seventeen-month decline.

This year we've seen an explosion of meme coin launches, many of which are controversial. Lookonchain data highlights the dangers of trading meme coins, especially those endorsed by celebrities, as in the case of JENNER from American celebrity Caitlyn Jenner. 🚀📉

Despite doubts about the legitimacy of the token, some traders still bought and traded JENNER tokens. One of the traders who previously made huge profits from trading the BOME token lost a significant portion of his wealth on JENNER.

Meme coins continue to attract attention, but their rapid proliferation has raised concerns among experts who believe these tokens are negatively impacting the industry and overshadowing the efforts of teams developing legitimate products.

The significant rise in the frog-themed meme coin Pepe (PEPE) has brought profits to most of its holders. According to a tweet from IntoTheBlock, over 96% of cryptocurrency users who own PEPE are now in the black. 🐸💰

Over the past month, PEPE has repeatedly updated its all-time highs. Despite the slight drop in Pepe's value, IntoTheBlock stated that the cryptocurrency is currently the most profitable among the major meme coins, with almost all of its holders making a profit.

PEPE started the year with a market capitalization of approximately $500 million. However, as of this writing, this figure has increased to $6.11 billion. Three days ago, PEPE reached a new all-time high of $0.00001717 and its market cap rose to $7 billion.

Pepe's success in recent months has propelled it to the top of the meme coin list, making the token the third-largest in the sector, behind DOGE and SHIB.

Research firm Nansen has identified DBS Bank, one of Singapore's largest banks, as a "cryptocurrency whale." According to Nansen, the crypto wallet, allegedly owned by DBS Bank, contains 173,753 Ether (ETH), valued at approximately $650 million at the current market price. 🐋💰

Nansen analysis says the address marked on May 30th has already generated $200 million in paper profits from holding Ether. While DBS Bank has not officially confirmed ownership of ETH, a community member suggested the assets could be owned by its digital exchange that caters to accredited investors.

DBS Bank is not new to the cryptocurrency sector. It offers various services, including custody of digital assets, a trading exchange for securities, and a portfolio management application that integrates traditional and crypto assets.

Since DBS Bank has expanded its digital currency efforts beyond cryptocurrencies, it has taken part in government Web3 projects in Singapore such as Project Guardian.

Shiba Inu (SHIB) recently gained attention by briefly surpassing Cardano (ADA) in market capitalization and becoming a major trend in the crypto community. However, its price soon fell due to a correction in the market. 📉

SHIB emerged as one of the industry's top performers, increasing its price by double digits on May 29th. Its capitalization temporarily exceeded the $17 billion mark, and the asset briefly overtook Cardano to become the 11th largest cryptocurrency. 🚀

Despite the success, experts warn about the volatility of these assets, saying traders can expect big spikes in FOMO and big drops in FUD.

It is worth noting that Shiba Inu is not the only coin that is red today; the entire market was in the red at one point. Bitcoin (BTC) fell to $67,100 but bounced back quite positively, while Ethereum (ETH) fell to around $3,700 before returning to $3,800.

However, despite the current situation, Shiba Inu continues to be one of the most talked about topics in the crypto space, and is often the subject of price predictions.

Large investors actively accumulate Bitcoin during market declines, seeing opportunities to buy and then sell during periods of market recovery or anticipation of increased institutional adoption. 📈🦈

Data shows that the total number of Bitcoins in wallets containing at least 10 BTC has increased significantly over the past five months.

Big sharks and whales began accumulating assets during the October 2019 market decline, continuing to do so post-COVID and into early 2022, according to Santiment's latest analysis.

A massive sell-off began in mid-2022 when US interest rates caused havoc across all markets and pushed BTC below $17,000.

This period lasted until December 2023, after which aggressive sharks and whales began accumulating, likely in anticipation of increased institutional investment.

The addition of another 154,560 BTC over the past five months indicates significant accumulation by large investors during this period.

Typically, when these large Bitcoin holders accumulate more, it heralds a bullish phase with rising prices in the market.

On the other hand, when these holders begin dumping their BTC, it often indicates the start of a prolonged bear market.

Moreover, 50% of the total BTC supply from another group of long-term holders holding BTC for 1-2 years have remained inactive for over a year, indicating a reluctance to sell their tokens for a quick profit.

These observations indicate that Bitcoin may be ready for a new peak in the near future, with some experts predicting that this could happen between October 2024 and March 2025.

Ripple filed to seal data related to the SEC's petition, arguing that its financial records are irrelevant while the regulator says they are critical. 🏛️📊 The SEC filed a lawsuit against Ripple in 2020 for collecting $1.3 billion in unregistered securities. The litigation is ongoing, and Ripple has already achieved some partial victories in court.

After a period of relative inactivity, the legal battle between the US Securities and Exchange Commission (SEC) and Ripple has escalated again. The company recently filed an affidavit in further support of its motion to seal data related to the regulator's motion for judgment and sanctions.

The SEC insists such data could provide more clarity about Ripple's sales of XRP several years ago and play a key role in the lawsuit. However, according to the company, the historical contracts "do not have continuing relevance" as it has made certain amendments to its XRP sales procedures.

BlackRock has filed an updated registration statement for its proposed Ethereum ETF. Analysts suggest that US ETFs on Ethereum could be launched by the end of June. 🚀

In an updated statement, BlackRock disclosed that its investor-customer has committed to purchase $10 million worth of shares on May 21, 2024. The investor ultimately received 400,000 shares at a price of $25.00 each.

On the same day, Hashdex withdrew its proposal for an Ethereum ETF, a day after its competitors, including BlackRock and seven other issuers, received approval for it. The reasons for Hashdex's decision were not disclosed.

Competitors such as Fidelity, ARK 21Shares and Franklin Templeton have focused exclusively on Ethereum ETFs, making late amendments such as withdrawing support for ETH staking in response to SEC feedback. 📈

According to an analysis report from 10x Research, Bitcoin price is sensitive to changes in the Consumer Price Index (CPI) compared to the previous month. A higher than expected CPI turns out to be bearish for the cryptocurrency, while a lower than expected CPI turns out to be bullish. 📊

The analysis shows that when the CPI was higher, the asset was bearish, and when the figure was lower than expected, it was bullish. "Traders who know how Bitcoin reacts to CPI should have the confidence to trade in the opposite direction of the CPI change from the previous month." 💹

The study predicts that inflows into Bitcoin ETFs will likely remain strong over the next two weeks leading up to the release of CPI data on June 12, possibly pushing BTC to new all-time highs.

The current price of Bitcoin is trading down 1% on the day, around $68,000. It fell to a daily low of $67,122 but managed to recover during the morning trading session in Asia on Thursday.

On May 28, ENS Labs proposed expanding the Ethereum Name Service to layer-2 scaling protocols as part of the "ENSv2" project 🚀. This isn't just a migration of core parts of the ENS protocol, the team plans to "rethink the architecture from the ground up."

Extension to layer-2 will make ENS more accessible and cheaper for a wide range of users. However, ENS Labs has not yet selected a specific layer-2 network for migration.

Moving to layer-2 offers a number of benefits, including reduced fees for registering and updating .eth names, more control and customization through a hierarchical registration system, and improved multi-chain interoperability by connecting .eth names across networks.

ENS Labs will offer an executable proposal to increase the annual budget by 4 million USDC from the ENS DAO to hire additional developers and cover infrastructure costs associated with development and deployment.

The price of the Ethereum Name Service token did not react to the announcement and traded unchanged throughout the day, standing at around $26 at the time of writing 📈.

Gemini's bankrupt cryptocurrency division successfully recovered virtually all of its clients' assets, one of the most successful recoveries in the industry. Gemini, founded by billionaire entrepreneurs Cameron and Tyler Winklevoss, announced that Gemini Earn clients have "received $2.18 billion in their digital assets." 🎉💰

This means that if you lend one Bitcoin in the Earn program, you will receive one Bitcoin back. And this means that you will receive any profit from your assets from the moment you borrow them.

Both Genesis and Gemini collapsed as a result of the outbreak caused by the split between FTX and Alameda Research in late 2022. Last week, Genesis received court approval for its bankruptcy plan to return more than $3.5 billion to its creditors.

Unlike other crypto firms that have promised to compensate clients 100% in cash, Gemini said its recovery is $1 billion higher than when it froze withdrawals, representing a 232% recovery in US dollar assets. 📈

Long-term Bitcoin holders continue to accumulate BTC despite price fluctuations. 📈 According to CryptoQuant, more than 50% of the total supply of BTC remains inactive on the blockchain for more than a year, indicating holders' confidence in the future value of Bitcoin.

Following the recent price recovery to $56,000, 1 and 2 year holders have moved from selling to accumulating, signaling renewed confidence in Bitcoin's potential. 🚀

However, CryptoQuant notes that a break below the daily Ichimoku cloud could shift market sentiment to bearish, possibly leading to a pullback towards $64,000.

IntoTheBlock estimates that the next market peak could occur within 140-260 days of the start of LTH sales, putting the potential peak window between October 2024 and March 2025.