RichBeak News [EN]:Michael van de Popp: "I sold all my bitcoins to get even more BTC"Cryptocurren

RichBeak News [EN]:
Michael van de Popp: "I sold all my bitcoins to get even more BTC"

Cryptocurrency analyst and founder of MN Trading said that he sold all his bitcoins to get even more BTC this year. According to the expert, there is a bull cycle in the market and one should buy altcoins.

Michaël van de Poppe said that there are several options to make more significant profits in bitcoin during the bull cycle. The analyst offered several trading strategies for consideration.

One of the simplest methods is to accumulate bitcoins that are bought with profits made outside of the cryptocurrency market. However, van de Popp opted for the riskiest method - trading altcoins.

"I sold all my bitcoins as I plan to get more back later this year. It's a bull cycle, we can't deny that," the analyst stated.

From a trader's perspective, altcoins are under undue pressure at the moment. Therefore, it is time to invest in them in order to make significant profits.

He emphasized that he chose the most risky way, as he has been trading on the market since 2017 and has the relevant experience and knowledge.

The expert admitted that the total value of his portfolio has decreased by 20% in the last two weeks, but he still expects to make a profit in bitcoins of 300-900% in the next twelve months.

Note that 30% of his portfolio is ether, and the remaining 70% is divided among seven altcoins (10% per coin): OP, ARB, LINK, NEAR, W, SEI and SUI.

Notcoin holders donated more than 1 billion NOT to Pavel Durov

The team of gaming Web3 project Notcoin reported that users have poisoned 1,030,383,291,362 NOT ($6.8 million at the time of the transaction) to Telegram founder Pavel Durov. This possibility was provided in the in-game interface until the completion of the mining phase.

Notcoin explained the donation by the desire to thank the messenger developers for their work and development opportunities.

"There is no shame in standing on the shoulders of giants. 552,586 notcoiners have sent 1,030,383,291,362 NOTs to Paul's account. 203,303 people donated all their hard-earned Notcoins (sic!)," they wrote in a tweet from February.

Earlier, Pavel Durov commented on the start of the NOT token trading. He said that on the day of listing the coin entered the top 10 cryptocurrencies in terms of trading volumes, and its capitalization reached $700 million.

"This amazing success story shows how effective the Telegram and TON ecosystems are for app developers. They provide more freedom for social interactions and viral distribution," Durov wrote.

The entrepreneur noted "how powerful are the clutches" of the Notcoin project, which has pioneered many mini-apps based on the TON blockchain.

At the time of writing, NOT is trading at $0.006825, according to CoinGecko.

Recall that on May 16, after the start of Notcoin trading on cryptocurrency exchanges Binance, Bybit, OKX and others, the price of the token sagged by almost 65%.

About a month after the listing, the project is planning a massive NOT burn.

The U.S. Congress is about to repeal the rule of one hundred percent reservation of crypto-assets on the balance sheet of banks

The U.S. Senate has passed by a majority vote a bill to repeal the Securities and Exchange Commission's SAB 121 directive, which shut down the ability of U.S. banks to act as custodial custodians of their customers' digital assets.

In 2022, the Securities and Exchange Commission (SEC) amended SAB 121 to require financial institutions that provide cryptocurrency custody services to customers to establish a 100 percent reserve for potential losses. The SEC required banks to account for this type of asset as a liability to customers.

On May 8, during the voting stage of the document in the U.S. House of Representatives, President Joe Biden promised to veto the bill to "protect investors in cryptoasset markets and the U.S. financial system as a whole." If the president vetoes it, the document will return to Congress for a second debate. Overriding the veto would require the support of a two-thirds majority.

In early May, former US President Donald Trump said at a meeting with his supporters at the Mar-a-Lago residence in Palm Beach that the current head of the White House has very little idea of what cryptocurrencies are.

ZkSync, an Ethereum Layer-2 network, hints at Airdrop by the end of June

- ZkSync said the upcoming v24 update will be the last before handing over control of the network to the community.
- The total blockchain value of the Tier-2 blockchain (TVL) is $141 million.

Zero-disclosure merger (ZK) zkSync suggested that the distribution of control tokens will take place at the end of June.

Airdrop rumors have been circulating since last March, when investors plugged in more than $8 million worth of tokens to zkSync to be eligible to participate. According to DefiLlama , the total blocked value (TVL) has since risen to $141 million.

"The upcoming v24 release is the last planned protocol update required before handing over control of the network to the community. The remaining missing pieces are expected to be installed by the end of June," zkSync wrote on X.

ZkSync is a Tier 2 network designed to scale Ethereum, providing cheaper transactions by performing computations and storing data off-chain; taxonomically, it is classified as a subtype of Tier 2 known as ZK aggregation , which is based on zero-disclosure cryptography, considered ONE of the most promising new technologies in blockchain.

Transaction fees have become significantly cheaper since the March update to Ethereum Dencun, which allowed Layer 2 networks such as zkSync to compress transactions before batching them to the main Ethereum network .

The planned release of the management token comes after a series of giveaways over the past year where companies such as EigenLayer, Renzo, Ethena and Wormhole decided to reward first-time users rather than traditional token sales.

Matter Labs, the developers of zkSync, have raised a total of $458 million in multiple funding rounds from the likes of Blockchain Capital and Dragonfly Capital.

Tether has issued 1 billion USDT. What this means for bitcoin

The treasury of Tether - the issuer of the largest USDT stablecoin by capitalization - has released a significant amount of new coins to the market. Let's break down how this will affect the dynamics of bitcoin (BTC) and the whole market

According to onchain statistics, Tether released 1 billion USDT into circulation on May 16 at 16:50 UTC (13:50 MSC). Given Tether's leading position in the stablecoin segment, many believe that such a large-scale issuance could affect the dynamics of the cryptocurrency market.

USDT issue and its implications
Paolo Ardoino, CEO of Tether, explained the reasons behind such a large-scale issue. He noted that 1 billion USDT will serve as a reserve in the Tron network. Ardoino also stressed that this was an authorized transaction, not a committed transaction.

"This means that the amount will be used as a reserve for future requests for issuance and exchange between networks," he added.

Tether released new stablecoins to the market a month earlier, on April 16, when the market was experiencing a lack of liquidity. According to a report by analytics platform Lookonchain, Tether's Treasury issued 31 billion USDT on the TRON and Ethereum blockchains last year.

Study: 95% of tokens in the NFT market have almost depreciated in value

A new report from analytics portal invezz shows a pessimistic picture - since 2021, NFT trading volume has fallen by 97%, and 95% of projects now have zero market value.

Today, the average value of a single NFT struggles to cross the $200 mark. More than 75% of non-replaceable tokens are valued below $100. Daily sales have plummeted from $87,000 in 2021 to just $2,000 in 2024.

Experts attribute the decline in interest in NFT to several factors at once, including the prolonged "cryptozyme", economic uncertainty and geopolitical tensions.

In addition, analysts point to the oversaturation of the NFT market with low-quality projects that emerged against the backdrop of a boom in interest in the assets in 2021. Their emergence was driven by hype rather than real value.

Despite the sad indicators, NFT has a future, experts believe. In 2024, the global market capitalization of non-replaceable tokens exceeded $193.84 billion. This indicates that investors are set for a recovery in the asset market.

According to invezz forecasts, the number of NFT holders will reach 16.35 million by 2028. The key reason for the growth of the indicator will be the growing awareness of people about cryptocurrencies and blockchain.

Blockchain games received nearly $990 million in funding in April

In the first quarter of 2024, blockchain gaming startups received just $288 million in funding. This is a 57% decrease compared to the period between October and December 2023. However, the second quarter should be much more successful for the sector.

According to data compiled by DappRadar, April saw an "unprecedented $988 million in capital inflows" into the web3 gaming sector, a new record since January 2021.

DappRadar blockchain analyst Sarah Gergelas noted that April's surge in investment "has already exceeded the entire second quarter of 2023, which was the best-performing period of that year and brought the sector $973 million."

This influx of capital comes at a critical time for the gaming industry, which has experienced significant turbulence, including 20,000 employee layoffs over the past year and a half," Sarah Gergelas wrote.

About 89% of the money received in April went to investment funds, with 7% going to support blockchain infrastructure and another 5% to web3 games. A major funding milestone was a $600 million gaming fund launched by venture capital fund Andreessen Horowitz as part of a larger $7.2 million fundraising effort.

Morgan Stanley's latest bank will disclose spot Bitcoin ETF holdings to clients

- As of March 31, Morgan Stanley owned nearly $270 million worth of GBTC.
- The investment was likely made on behalf of clients, rather than as a bet on Bitcoin by the bank itself.

According to 13F , Morgan Stanley owned $269.9 million worth of Grayscale's Bitcoin Trust (GBTC) as of March 31.

Other banking giants, including JPMorgan, Wells Fargo and UBS, also disclosed their holdings in spot Bitcoin exchange-traded funds in the first quarter.

It is important to note that these purchases T necessarily reflect the banks' views on the direction of the Bitcoin price, but rather were likely either made on behalf of the banks' asset management clients or necessary to establish a market and/or authorized ETF participant. duties.

Morgan Stanley opened spot allocations of Bitcoin ETFs to its clients shortly after their approval in January, but only on a voluntary basis, meaning that the client had to offer the investment to the broker.

The price of Chainlink (LINK) could return to the $15 mark

Breaking down why Chainlink (LINK) price may correct in the coming days after recent gains

Chainlink (LINK) surprised the market with a rise. However, investors who contributed to that growth may now want to lock in profits.

Chainlink investors are skeptical
The price rose above a key support level, thanks to general market trends: LINK rose along with bitcoin and other crypto assets. However, whales also helped this rally.

Addresses owning between 100,000 and 1 million LINK have been consistently adding to their wallets for a while now. However, two days ago, they suddenly accelerated this process. The gain amounted to 2.5 million tokens, which is equivalent to $41.5 million. In this situation, there is a high probability of profit taking.

Purchases during a bull run are driven either by investor confidence or by plans to inflate prices and lock in profits, and in the case of this cohort it is the latter. Such selling could halt the rally.

In addition, retail investors have lost interest in Chainlink. The onchain metric of participation in the network is declining. Currently, the average number of active addresses conducting transactions on the network has fallen to 2,000 versus the April average of 4,400. The departure of LINK holders suggests that they were not expecting a rally, and the price rise is likely to have little impact on these investors. However, if they become active again, the price will benefit.