Bitcoin & Crypto Trading

💰 Sui Token Supply Is Controversial When Over 84% Of Staked Tokens Are Controlled By Founders Despite Sui’s claim of a capped supply of 10 billion tokens, Bons highlighted an imbalance in token distribution. According to Bons, over 84% of the staked Sui token supply is controlled by the founders, raising centralization risks due to the absence of lock-ins and legal guarantees for token holders. He criticized Sui’s communication, labeling the foundation’s published chart as misleading and expressing doubts about transparency. Source @Bitcoin_Blockchain_Trading

💰 Block Is Buying Bitcoin Every Month for Its Balance Sheet Block Inc. has announced its strategy of regularly purchasing bitcoin for its corporate balance sheet via dollar-cost averaging (DCA). The company plans to allocate 10% of its monthly gross profit from bitcoin products towards investments in the cryptocurrency. “We view bitcoin as an instrument of global economic empowerment; it is a way for individuals around the world to participate in a global monetary system and secure their own financial future,” the company stated. Source @Bitcoin_Blockchain_Trading

💰 Arthur Hayes predicts Bitcoin is poised for a steady rise in value Former BitMEX CEO Arthur Hayes expressed optimism regarding Bitcoin’s future trajectory, suggesting that the recent downturn marks a local bottom, with the flagship crypto poised for a gradual ascent over the coming months. Hayes shared his insights in a blog post on May 3, attributing the recent market slump to a variety of factors, including the US tax season, concerns over Federal Reserve policies, the “sell the news” effect following the Bitcoin halving, and a slowdown in spot Bitcoin ETF inflows. Source @Bitcoin_Blockchain_Trading

💰 Spot bitcoin ETFs see reduced daily outflows, totaling $34 million Spot bitcoin exchange-traded funds (ETFs) in the U.S. experienced a net outflow of $34.4 million on Thursday, indicating a slowdown compared to the previous day’s record outflows. BlackRock and Fidelity’s bitcoin funds, which are ranked second and third in terms of total net assets, both recorded zero flows on Thursday. Bloomberg’s ETF analyst James Seyffart previously explained that a day of zero flows is normal in ETFs. Source @Bitcoin_Blockchain_Trading

Tectum team showcases instant #Bitcoin payments using SoftNote. Mass Adoption is already here! Time to buy $TET Tg Group is here!

💰 Terraform Labs' lawyers push back against 🇺🇸 SEC, argue token sales were mostly outside US Lawyers for Terraform Labs pushed back against the Securities and Exchange Commission after the agency requested them to pay billions of dollars in fines. Terraform's offer and sales of tokens happened "almost entirely outside the U.S." the firm's lawyers argued in a brief filed on Wednesday. Meanwhile, the SEC has argued that the firm "targeted U.S. investors" and says they should pay $5.3 billion in fines, most of that being in disgorgement. Source @Bitcoin_Blockchain_Trading

💰 Microstrategy Plans to Launch a Decentralized Identity Solution on Bitcoin According to an unofficial draft on Github, the Orange platform leverages the Bitcoin Inscription DID method (did:btc), which incorporates data inscriptions in Bitcoin’s witness sections to manage decentralized identifiers (DIDs). By utilizing unspent transaction outputs (UTXOs) on the Bitcoin blockchain, Microstrategy Orange aims to ensure a secure and efficient management of digital identities, reducing both transaction fees and block space. Source @Bitcoin_Blockchain_Trading

🥇 VanEck says about $175 billion in bitcoin held by ETFs, nations and companies VanEck said in a new report that a total of roughly $175 billion in bitcoin is currently being held across the various ETFs, nations and public and private companies that have acquired the popular cryptocurrency. "Bitcoin interest among institutional investors has also increased. Hedge funds, asset management firms, and endowments are increasingly recognizing bitcoin’s potential as a store of value," VanEck said in the report. Source @Bitcoin_Blockchain_Trading

💰 Liquidation heatmap shows volatility ahead as Bitcoin drops to $57k Bitcoin teeters around the $57,000 mark, market analysts and traders are glued to liquidation heatmaps, seeking insights into the next big price movements. Recent events have shown how quickly sentiment can shift, with $381 million liquidated in just 24 hours. But what's next? Hidden within layers of data are critical price points laden with massive liquidations waiting to be triggered. Source @Bitcoin_Blockchain_Trading

🇷🇺 Russia to Enact a Ban on Domestic Operations Of Cryptocurrency Exchanges Russia is preparing to enact a ban on the organization of cryptocurrency exchanges in the country via the approval of a bill that regulates mining activities. According to statements made by Russian Duma Financial Market Chairman Anatoly Aksakov, digital financial assets like the digital ruble will be allowed to circulate. Source @Bitcoin_Blockchain_Trading