Bitcoin recovered to $67,000, inflation in the United States slowed down, the listing of Notcoin took place, Vitalik Buterin proposed a new type of gas for transactions and other events of the outgoing week.
The price of bitcoin has returned to the level of $67,000
The first cryptocurrency started the week below $61,000. On Monday, May 13, digital gold rose to $63,000, but returned to $61,000 the next day.
On Wednesday, May 15, bitcoin soared to $66,000. On Friday, May 17, the first cryptocurrency gained a foothold above $67,000.
At the time of writing, digital gold is trading at $66,800.
The BTC/USDT hourly chart of the Binance exchange. Data: TradingView.Most of the digital assets from the top 10 by capitalization ended the week in the "green zone". The exceptions were BNB (-2.8%) and Toncoin (-8.4%).
Data: CoinGecko.The total capitalization of the cryptocurrency market is $2.53 trillion. The Bitcoin dominance index is 56.1%.
Inflation in the United States has slowed down
Annual inflation in the United States slowed from 3.5% to 3.4% in April, which is in line with the consensus forecast.
On a monthly basis, the consumer price index increased by 0.3% against expectations of 0.4% and the same value in March.
The indicator, excluding food and energy prices, increased by 0.3% compared to the previous month and by 3.6% compared to April last year. A month earlier, the values were 0.4% and 3.8%, respectively. The monthly dynamics slowed down for the first time in the last six months.
Analysts expected a slowdown in annual rates to 3.6%, monthly rates to 0.3%.
The Notcoin listing took place. The price of the coin dropped to $0.005
On May 16, at 15:00 Kyiv/Moscow time, the largest cryptocurrency exchanges Binance, Bybit and OKX listed the NOT token of the Notcoin gaming Web3 project. The total issue is 102.7 billion coins.
At the start of trading, the price of the token on the Binance exchange was $0.012, then soared to $ 0.037 and began to decline.
At the time of writing, NOT is trading at $0.005.
The NOT/USDT hourly chart of the Binance exchange. Data: TradingView.The Notcoin team reported that users sent 1,030,383,291,362 NOT ($6.8 million at the time of the transaction) to Telegram founder Pavel Durov. This feature was provided in the in-game interface until the completion of the mining phase.
Notcoin explained the donation as a desire to thank the messenger developers for their work and the opportunities provided for development.
Durov said that he intends to keep the received coins until their price rises to $ 680 million, after which he will buy additional servers for Telegram with them.
https://forklog.com/news/soosnovatel-notcoin-otvetil-na-voprosy-soobshhestva-i-anonsiroval-szhiganie-notWhat should I discuss with my friends?
$61 million worth of bitcoins, which had been "sleeping" for 10 years, began to move.KITTY's meme coin grew by 6,000% after waking up the "sleeping" X account.The trader earned $46 million on PEPE against the background of the ATH meme token.Controversial blogger Andrew Tate announced the rejection of fiat in favor of bitcoin.Vitalik Buterin has proposed a new type of gas for transactions
Ethereum co-founder Vitalik Buterin has released EIP-7706, which adds a new type of gas for some transactions.
The max_basefee and Priority_fee functions are used as the main vector. They calculate the cost of gas for execution, calldata, and BLOB operations.
To accept the changes, it is necessary to make edits to EIP-1559 in order to use the same settlement mechanism for all three types of transactions.
Buterin has already discussed a similar idea, putting forward a proposal to introduce "multidimensional" pricing for gas. He wanted to divide the various operations in Ethereum into different types in order to save blockchain resources.
On May 8, the programmer presented another proposal — EIP-7702. It allows ordinary Ethereum wallets to temporarily switch to smart contract mode in a single transaction. This approach simplifies the implementation of account abstraction.
The analyst called the condition for bitcoin at $100,000 in 2024
To achieve the first cryptocurrency exchange rate of $ 100,000, only one factor is needed, which depends on the US Federal Reserve System (FRS). This was stated by Timothy Peterson, an analyst at Cane Island Alternative Advisors.
"The rate of high-yield US bonds of the speculative category serves as an excellent indicator. In fact, it needs to fall below 6% or 7% for bitcoin to start a steady movement to an all—time high," he explained.According to YCharts, at the time of writing, the figure is 7.38%.
According to Peterson, if the yield rates fall to the designated range, bitcoin will rise to $100,000 in the fourth quarter of 2024 or in the first quarter of 2025.
Interest rates are perceived as an important indicator for crypto traders, since their decrease usually leads to a drop in the profitability of investors in traditional securities.
The expert claims that, in general, markets in the period from September to October are usually "stable and volatile." However, this time there may be "uncertainty" due to the US presidential elections, which will be held in early November.
Also on ForkLog:
The trader earned more than $2 million in less than a day on the 1DOL token.El Salvador has mined almost 474 BTC in three years.OpenAI has announced a "more human" version of ChatGPT.Robert Kiyosaki predicted the collapse of the dollar and again reminded about bitcoin
The author of the bestseller "Rich Dad, Poor Dad" and entrepreneur Robert Kiyosaki explained why it is urgently necessary to invest in bitcoin, gold and silver.
According to him, while in South Africa, he again heard a lot of rumors about the upcoming launch of a gold-backed stablecoin by the BRICS group.
The member countries of the association - Brazil, Russia, India, China and the Republic of South Africa — first announced such an opportunity in 2019.
In July 2023, Kiyosaki, with reference to the specific date of the appearance of the digital currency of the international organization, predicted the collapse of the dollar and the achievement of $ 120,000 by bitcoin.
"If the BRICS crypto gold turns into trillions of counterfeit money, US paper dollars will flood back home, which will cause hyperinflation and eventually destroy the American currency," the entrepreneur wrote this time.To protect his savings from collapse, Kiyosaki repeated the traditional call to invest in the first cryptocurrency and precious metals.
What else should I read?
This week, ForkLog told how to build a successful DAO on grants and how to extract "pearls" from Swell.
https://forklog.com/exclusive/internet-computer-shvejtsarskij-nozh-dlya-oblachnyh-vychislenijThe traditional digest contains the main events of the week in the field of cybersecurity.
The cryptocurrency industry is attracting an increasing number of institutional players. This is evidenced by new investments in infrastructure, and the increasing attention that companies are paying to bitcoin as an asset class. The most important events of recent weeks are in the ForkLog review.
https://forklog.com/exclusive/mozgi-v-banke-ili-smert-gosti-ath-o-tom-kem-ili-chem-stanet-chelovek-budushhego