Inflation Concerns, Strong Jobs Data Put Bitcoin on the Defensive
A strong May jobs report on Friday could set the crypto up for further declines.
Nearly $275 Million in Ether Burnt This Month Amid Deflationary Trend
During the last month, over 143,830 ether worth $275 Million has been burnt, according to tracker ultrasound.money. The network is forecasted by the tracker to burn 2,441,000 ether this year, or approximately $4.5 billion worth. CoinDesk's Jenn Sanasie presents "The Chart of the Day."
Sell Crypto Volatility in May, and Go Away?
The recent calm in bitcoin (BTC) and ether (ETH) should not lull market participants into a false sense of security.
First Mover Asia: Nearly $275 Million in Ether Burnt This Month as It Continues Deflationary Trend
Also: Bitcoin and volatility have a tricky relationship.
Crypto Exchange bitFlyer Aligns Itself With FATF 'Travel Rule' With New Restrictions
Restrictions targeting 21 countries include only allowing select crypto and transfers to platforms that comply with Coinbase-led Travel Rule Universal Solution Technology (TRUST).
First Mover Asia: Does Crypto’s Success Depend on the Upcoming Presidential Election?
ALSO: The Commitment of Traders report shows that asset managers have increased their open long positions in bitcoin after falling in the two prior weeks.
First Mover Asia: Bitcoin Rises Past $28K on Debt Ceiling Deal
ALSO: A Chinese governmental agency released a paper over the weekend that outlined suggestions for China's Web3 policy, but it didn't broach must new ground. Still, the paper represented progress for a country that is keen to write the next generation of technology standards
Bitcoin Moves Little on the Week Despite Debt Deal, Inflation Concerns
Bitcoin trades flat to move one step closer to logging its first losing month of 2023. Ether rises slightly but also seems headed for a negative May.
Glassnode Data Reveals Ether Held in Exchanges at Lowest Since July 2016
Data from Glassnode shows that 14.85% of all ether was held in wallets owned by centralized exchanges as of Thursday, the lowest level the market has seen since the summer of 2016. Typically, low exchange balances are a bullish sign, indicating that the supply of ether available for purchase is limited, thus putting pressure on prices to increase. CoinDesk's Jenn Sanasie presents "The Chart of the Day."
Ether Balance on Exchanges Nears All-Time Low
The drop comes as the number of staked ether has surged.
