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Crypto Prices Today 29 Apr: Crypto World Awaits FED Decision

29-Apr-2024 By: Lokesh Gupta
Crypto Prices Today

Cryptocurrency values plunged in the last 24 hours

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Crypto News Key Highlights:

  • Google Cloud expands into Web3 , launching a portal with testnet tools, blockchain datasets, and tutorials. It aims to support developers in building decentralized applications (dApps) and implementing Web3 solutions. However, mixed responses from the crypto industry emerge, with some criticizing Google's focus on Web3 over Bitcoin.

  • Cryptocurrency investment products saw three weeks of consecutive outflows totaling $435 million, primarily due to US spot Bitcoin ETFs. Grayscale led the outflows, totaling $440 million, while new issuer inflows slowed. Altcoins and multi-coin products attracted $7 million in inflows, while Bitcoin faces resistance at $65,600, potentially influenced by the upcoming FOMC meeting.

  • Circle's USDC stablecoin has surpassed Tether's USDT in transaction volume, reaching $456 billion last week, as reported by Visa. This marks a significant milestone and indicates USDC's global impact since 2024. Despite USDT's larger circulation, USDC's usage surge reflects its growing adoption and influence.

  • OpenAI, led by Sam Altman, faces legal action from NOYB for alleged GDPR violations due to misinformation on ChatGPT. Despite past scrutiny, OpenAI has been reluctant to comply. NOYB filed a complaint with the Austrian data protection authority, potentially impacting AI governance in the EU. Meanwhile, Altman joins the U.S. AI safety board.

  • Hong Kong's much-awaited spot Bitcoin ETFs launch tomorrow, led by HashKey Capital and Bosera. Analyst Willy Woo highlights Asia's significant market landscape, though Chinese restrictions may hinder inflows. Initial estimates suggest $1 billion inflows, but competition from local players and limited Chinese investments pose challenges for Hong Kong's ETFs.

  • ARK Invest CEO Cathie Wood remains bullish on Tesla, emphasizing its robotaxi network's potential and Elon Musk's ambitious vision. Wood highlights Tesla's differentiation through innovation and dismisses reports of reduced investment. She warns against short-term focus among investors, advocating for recognition of disruptive innovation's long-term value.

  • South Korea plans to upgrade its Joint Virtual Asset Crime Investigation Unit to an official department to combat rising crypto-related crimes. Amid regulatory efforts, the country faces a surge in illicit transactions, prompting the implementation of stricter regulations and influencing political discourse ahead of parliamentary elections.

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 - Crypto Prices April 29: Bulls vs Bears in Battle for Control

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