Good morning crypto insiders, in this article we provide a summary of the most important events relevant to the world of cryptocurrencies that occurred last night.
This means you can quickly follow the latest developments. More detailed articles on these topics will appear on Crypto Insiders throughout the day.
Bitcoin recovers, AI crypto surges
Bitcoin (BTC) managed to close the week in the green for the first time since March. The price recovery is accompanied by a recovery in market sentiment.
However, right now, it looks like the $64,500 level is offering plenty of resistance for further recovery. Meanwhile, coins for AI projects are rising like rockets. Read more about this in this morning’s price update.
Bitcoin ETFs Break the Trend
Bitcoin actually started to rally over the weekend, accompanied by a rebound in inflows into new US Bitcoin ETFs.
The stock market has seen a net outflow for seven straight trading days, but last Friday we saw a break in the trend and finally another… net flow. A whopping $378.3 million flowed into Bitcoin ETFs on May 3.
Bitcoin reaches 1 billion transactions
Bitcoin reached another milestone this weekend. On May 5, the network processed its billionth transaction.
This historic transaction was recorded on block 842,241. This comes after the launch of the Bitcoin network 15 years ago and four months ago on January 3, 2009.
#Bitcoin It has officially processed over 1 billion transactions. pic.twitter.com/kS704YYoW5
— Wicked (@w_s_bitcoin) May 5, 2024
Will stablecoins overtake Visa in terms of volume?
According to research agency Sacra, stablecoins may be able to support Visa in terms of volume this year Transgression.
Stablecoins are very popular in cryptocurrency trading and act as a bridge to the traditional financial world. They are also becoming increasingly popular in cross-border payments due to their low costs and fast processing times.
However, Visa doesn’t believe it. In fact, the massive payment processor says that 90% of all stablecoin transactions don’t come from real people, but Especially from robots.
Cardano wants to integrate with Bitcoin Cash
Charles Hoskinson, founder of Cardano (ADA), asked an eye-opening question on Twitter last weekend.
In a hypothetical poll, he suggests merging Bitcoin Cash (BCH) with Cardano.
According to the founder, this would make Bitcoin Cash the fastest and most useful Proof of Work (PoW) network.
14,000 people have already voted, 68% of whom said yes.
Virtual survey:
Would you like to see Bitcoin Cash become an upgraded Cardano partner chain with the useful proof-of-work technology Leios, NiPoPoWs, and Ergo, thus being the fastest and most useful proof-of-work chain ever created?
– Charles Hoskinson (IOHK_Charles) May 4, 2024
Post views: 1,397
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