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Crypto News Today: BTC and ETH Steady as Notcoin Takes Lead

Key Takeaways
  • Bitcoin is trading above $68,000, while Ethereum is trading below $3,800
  • The cryptocurrency market experienced a 1.20% decrease, reducing the total market capitalization to $2.69 trillion
30-May-2024 By: Lokesh Gupta
Crypto News Today: B

Cryptocurrency market down 1.20%, total cap $2.69 trillion

  • The market closely watches key economic indicators like quarterly GDP, unemployment claims, monthly pending home sales, and the upcoming US Personal Income and Outlays Report.

  • BlackRock revises S-1 filing for iShares Ethereum Trust, indicating a significant step toward launching an Ethereum ETF.

Major Events To Watch

forex factory

Crypto Fear and Greed Index:

fear and greed index

The Crypto Fear and Greed Indicator shows a current market sentiment of 73, up by 1 point from yesterday's 72. Last week's sentiment was slightly higher at 74.

Cryptocurrency plunged in the last 24 hours significantly

TOP 5 Losers Coins

Indices LTP Change (%)
Bonk $0.00003681 13.73%
FLOKI $0.000272 10.78%
BOOK OF MEME $0.01414 10.13%
Pepe $0.00001492 8.54%
Ondo $1.18 6.73%

Latest Market Update: 

  • #Bitcoin ($BTC) fell below $68,000 early Thursday, continuing its volatile journey.

  • Other popular altcoins like #Ethereum ($ETH), #Dogecoin ($DOGE), #Ripple ($XRP), #Solana ($SOL), and #Ondo ($ONDO) experienced minor declines.

  • #Notcoin ($NOT) token saw the biggest gain for the third consecutive day, rising over 16% in 24 hours.

  • $BONK suffered the largest loss, dropping over 11% in 24 hours.

  • The total crypto market volume in the last 24 hours is $80.98 billion, marking a decrease of 9.41%.

  • DeFi volume stands at $6.17 billion, representing 7.62% of the total crypto market 24-hour volume.

  • Stablecoins account for $75.66 billion in volume, making up 93.44% of the total crypto market 24-hour volume.

  • Bitcoin dominance increased by 0.27% over the day, currently at 52.72%.

Major Worldwide News Update:

  • BlackRock's updated S-1 filing for iShares Ethereum Trust signals a strong push towards a spot Ethereum ETF, post-SEC approval. Alongside major players like VanEck and Fidelity, BlackRock leads with detailed disclosures, setting a launch projection for June/July. Seed capital investment underscores confidence, while the ticker symbol "ETHA" enhances accessibility and transparency.

  • Vanguard Group distances itself from cryptocurrency, rejecting spot Bitcoin and Ethereum ETFs, citing immaturity. BlackRock's revised S-1 filing for an Ethereum ETF awaits SEC approval, likely by July 4th. Vanguard CEO Salim Ramji maintains focus on traditional assets. ARK Invest's Cathie Wood sees Ethereum ETF approval as an election issue.

  • CME denies plans for Solana futures, halting expectations for a Solana ETF. Regulatory hurdles and Solana's security classification complicate ETF creation. Despite operational concerns, Cyber Capital's Justin Bons defends Solana. Analysts speculate on Solana's ETF prospects, contingent on regulatory clarity. Recent FIT21 bill and potential SEC stance shifts could impact future approvals.

  • Senator Cynthia Lummis champions crypto's economic role, urging pro-crypto legislation. With momentum building pre-election, optimism surges. Lummis highlights Senate education efforts on digital assets. Financial innovation caucus fosters crypto framework. Bitcoin gains as hedge against inflation. Ethereum gains recognition. SEC's approval of Ethereum ETFs and bipartisan support signal positive regulatory shifts.

  • At Consensus, Rep. Tom Emmer criticized SEC Chair Gary Gensler's leadership, alleging overreach and hindrance to innovation. Emmer advocated for the CBDC Act to safeguard privacy, aiming to prevent CCP-style surveillance. He highlighted the rising influence of crypto voters and defended the FIT21 Act for fostering internet innovation and American leadership.

  • SEC warns of rising crypto scams, exploiting investors through fake securities, social manipulation, and deepfake tech. Scammers impersonate, groom victims, vanish post money collection. Pump and dump schemes surge, demanding extra payments for account unlocking. Investors advised to research thoroughly, verify identities, and consult reliable sources. DOJ charges two Chinese citizens in $73M crypto scam.

COIN GABBAR Views: Will Bitcoin, the leading cryptocurrency, kickstart a fresh increase amidst its struggles? As a critical Bitcoin level is breached, could this spark a mass liquidation? How deep will the BTC price plummet as it drops to $67,000? Is this sell-off continuing, or does it present a buying opportunity? To get latest news Stay tuned us at coingabbar

Disclaimer: Coingabbar's guidance and chart analysis on cryptocurrencies, NFTs, or any other decentralized investments is for informational purposes only. None of it is financial advice. Users are strongly advised to conduct their research, exercise judgment, and be aware of the inherent risks associated with any financial instruments. Coingabbar is not liable for any financial losses. Cryptocurrency and NFT markets could be highly volatile; users should consult financial professionals and assess their risk tolerance before investing.

Also Read: Dogecoin Price Prediction: Is DOGE Ready to Make History?

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