#FederalReserve’s actions, specifically its interest rate decisions, serve as an external catalyst that influences #BTC #Bitcoin’s price movements, as noted by Swissblock. More: https://buff.ly/3qjcR6c

Despite a drop in #volatility, #BTC's risk-adjusted returns are now less than #Nasdaq's.

BTC outperformed in risk adjusted terms in the first four months of the year, but it has recently fallen behind tech stocks.

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According to #GrandViewResearch, #DEFI Global Decentralized Finance Market was valued at USD 13.61 billion in 2022 and is projected to expand at a compound annual growth rate (CAGR) of 46.0% from 2023 to 2030.

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#Bitcoin triggered the alarms by breaking the weekly support of $26436.81 (MA200W1), together with the value of the EMA50 at exactly $25874.66.

Read The Complete Article: https://buff.ly/42qwy9u

#Ripple #XRP open interest has steadily increased in May, hovering around yearly highs of over $500 million.

XRP prices have also regained some ground, suggesting that the token is gaining momentum ahead of the long-awaited court decision in the legal dispute between XRP's issuer Ripple and the U.S. SEC.

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The market cap of #crypto projects directly developing #AI models on blockchain, applying AI to decentralized applications or solving for AI-related issues is still fairly low at only 0.07% of the total across all tokens. Source

After the #FTX collapse, #Etherum #ETH #futures #trade volume collapsed to just ~$7.5B/day, according to #Glassnode.

Volumes have seen a comeback in 2023, however the 30-day average ($12.0B/day) remains well below the yearly average ($21.5B/day).

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#BNB and #ETH were the only deflationary tokens during Q1’23 at -5.4% and -0.2%, respectively, according to #messari.

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#Bitcoin supply held by entities in Asia increased by 9.9% in 2023, as the region begins introducing crypto-friendly regulation and U.S. tightens its regulatory stance, according to #cryptoslate.

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Tokens associated with early #DeFi projects such as #Link (LINK), #Synthetix (#SNX), #Curve (#CRV), #Uniswap (#UNI), #MakerDAO (#MKR), #Aave (#AAVE), and #Compound (#COMP) registered their lowest combined volume in since January 2020 last month.

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U.S. crypto market share remains dominant but has fallen from 85% at the start of 2023 to 70% today — link

Derivatives volumes decreased by 14.4% in May to $1.92tn.

The #derivatives #market now represents 79.5% of the entire crypto market (vs 78.3% in April).

This is a new all-time high for the market share of derivatives, highlighting the increased usage of leverage as the price of major crypto assets remains rangebound, after struggling to break key support and resistance levels. 👇🏻

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#Bitflyer is Japan's largest crypto exchange, with a market share of 38.0% and a trading volume of $1.51 billion in May 2023.

This represented a -28.8% month-on-month (MoM) decline, having recorded $2.12 billion in April 2023. More: https://buff.ly/42nOv8V

#Ethereum #ETH #Crypto futures contracts in healthy markets should trade at a 4 to 8% annualized premium, wrote #cointelegraph.

According to the futures premium, known as the basis indicator, professional traders have been avoiding leveraged longs (bullish bets). 👇🏻

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#WallStreet Braces For $1 Trillion Treasury Issuance - This Is Good For #Crypto

Following President Joe Biden's signature on legislation to suspend the federal debt ceiling, the U.S. Treasury is readying a flood of new bonds that could impact the market significantly.

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📍Next Week we have

• CPI & PPI numbers
• FED Interest Rate Decision
• FOMC Press Conference

Be ready for the incoming volatility😉

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After contracting for two consecutive quarters, the entire #eurozone region fell into a recession in Q1 2023.

Both consecutive quarters saw negative quarters in Q4 2022 and Q1 2023.

At the end of May, it was reported that Germany went into a recession.

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#Gaming saw a 66% increase in total funding amount and a 240% increase in the number of deals announced in May compared to April.

That being said, total #Web3 game investments are still down by 37% compared to February

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#Binance’s #Spot #Market Share Falls for the Third Consecutive Month

The halting of zero-fee trading for #USDT pairs, combined with general weakness in the market and increased scrutiny from regulators, has led to Binance’s spot market share falling for the third consecutive month, to 43.0% in May.

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#Binance’s #liquidity has fallen from $30mn before the announcement to $22mn today.

It has almost exactly the same amount of liquidity as the next 39 exchanges combined (minus the other exchanges charted).

#Coinbase, meanwhile, has been nearly unaffected by the regulatory action. However, its liquidity had previously halved back in April.

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