BENCHMARK
Indices | LTP | Change (%) |
---|---|---|
BITCOIN | $29163 | 0.39% |
ETHEREUM | $1892 | 0.42% |
CRPTO STATS(24H)
Indices | VALUE | Change (%) |
---|---|---|
MARKET CAP | $1.25 T | 0.40% |
TRADING VOLUME | $39.40 B | 51.05% |
TOP 5 GAINER
Indices | LTP | Change (%) |
---|---|---|
Zombie Inu(OLD) | $0.000000000030 | 981.93% |
FreeRossDAO | $0.00038 | 203.10% |
CluCoin | $0.0.00000000083 | 112.60% |
Metacourt | $0.00035 | 77.51% |
Fantohm | $1.61 | 61.07% |
TOP 5 LOSER
Indices | LTP | Change (%) |
---|---|---|
PalGold | $0.000023 | 47.33% |
PegazyStone | $0.0030 | 45.62% |
ArbiSmart | $0.046 | 38.99% |
LocalTrade | $0.021 | 38.41% |
Bread | $0.0043 | 38.39% |
Bitcoin and the wider cryptocurrency market are experiencing an upward trend today, which can be attributed to the market's anticipation of a pivot. Despite the efforts of Powell, the market is expecting a pause in rate hikes at the upcoming FOMC meeting on June 14th.
Major Events Around the World
During its meeting on May 4th, the European Central Bank (ECB) announced a 25 basis point increase in its key interest rates, signalling a slower pace of policy tightening. This move comes as the Euro Area's inflation rate reached a staggering 7% in April, with the core rate remaining near an all-time high at 5.6%. Interestingly, the crypto market reacted positively to the ECB rate hike, which was expected after the U.S. Federal Reserve also raised rates by 25 basis points. As a result, Bitcoin's price remains over $29,000, while Ethereum's price has jumped over $1,900.
Deloitte Switzerland has recently announced its partnership with Polkadots KILT protocol to enhance its Know-Your-Customer (KYC) solution. This exciting development highlights the growing interest in the use of blockchain technology to improve compliance processes, particularly within the financial industry. The use of blockchain in KYC has the potential to significantly reduce costs, speed up processing times, and increase data security, making it a game-changer for the industry. This partnership is a testament to Deloitte's commitment to innovation and its dedication to providing its clients with cutting-edge solutions that meet their evolving needs. With this collaboration, Deloitte Switzerland is poised to revolutionise the KYC landscape and set a new standard for compliance processes.
In the midst of mounting pressure on the US banking industry, Western Alliance, the most recent bank rumoured to be on the brink of collapse, released a statement on Thursday. The bank's management unequivocally stated that it was not considering a sale and had not engaged an advisor to explore strategic options. Despite this reassurance, the bank's shares continued to plummet, experiencing a staggering 39% drop in value. Earlier reports had suggested that Western Alliance was indeed exploring a potential sale, adding to the uncertainty surrounding the bank's future.
COIN GABBAR Views: Bitcoin has witnessed a notable surge in its value, whereas the performance of other leading non-stablecoin cryptocurrencies in the top 10 has been uneven. As May approaches, some investors might be contemplating whether it is prudent to follow the traditional advice of "sell in May and go away" this year. Please stay tuned with us www.coingabbar.com
Also read: Curve Finance's Algorithmic Stablecoin Mints $22M Since Mainnet Launch
Disclaimer: Crypto is not regulated and can offer considerable risks. There may be no regulatory remedies available in the event of any losses resulting from price analysis. As a result, before engaging in any transactions involving crypto products, each investor must perform in-depth examination or seek independent advice.