Crypto market

BTC — $26478 +1%. Bitcoin bounced back to $26.5k. The alt market is mixed. Ether is trading at $1815. Altseason index 4, investor interest 49 (neutral). Trading volume — $27.8 billion.

 

Growth leaders among altcoins are PLS, PLSX, HEX.

Fall leaders are BGB, NEO, TON.

BTC dominance is 47.75%.

 

Litecoin and Dogecoin set records on the network thanks to Ordinals

The Litecoin network has reached its highest daily transaction volume ever (584,000 per day). As for Dogecoin, the network reached record transactions on May 18 — 1.2 million per day

 

MetaMask does not confiscate crypto to pay taxes

There was an uproar in the networks about the updated rules of ConsenSys (the owner of MetaMask). The company announced that it reserves the right to collect state taxes and fees. Many saw this as a threat to MetaMask users. And they even wrote that "decentralization is dying"

 

Solana launches ChatGPT plug-in to help users interact with its network

The Solana Foundation, the nonprofit organization behind the layer-1 blockchain Solana, has officially integrated AI into its network with a ChatGPT plug-in developed by Solana Labs, the team exclusively told TechCrunch+. (Solana Labs is the team building products and tools for the blockchain.)

 

The plug-in, which was teased by Solana Labs in late April, will be geared toward end users initially, with a focus on helping them onboard into the web3 space. It can be used to buy and list NFTs, transfer tokens, check out transactions, interpret data and find NFT collections by floor price, Solana Foundation shared.

 

Bitcoin surpassed Solana to become the second most popular NFT blockchain

Bitcoin’s surpassing of Solana to become the second most popular NFT blockchain signifies a significant milestone in the world of cryptocurrencies and blockchain technology. The rise of Bitcoin’s NFT market, fueled by memecoin trading and the emergence of BRC-20 tokens, has opened up new opportunities for artists, collectors, and investors. This growth not only diversifies the NFT ecosystem but also contributes to the mainstream adoption of blockchain technology. As Bitcoin’s NFT market continues to flourish, it is crucial for stakeholders to stay updated and embrace the potential of this evolving landscape. The convergence of NFTs, memecoins, and Bitcoin creates a dynamic environment that promises continued innovation, creativity, and economic opportunities for all involved.

 

Hong Kong Securities Regulator to Accept License Applications for Crypto Exchanges Starting June 1

Hong Kong's Securities and Futures Commission (SFC) will begin accepting applications for crypto trading platform licenses on June 1, according to a Tuesday announcement.

The regulator has agreed to allow licensed virtual asset providers to serve retail investors, provided that operators assess understanding of the risks involved, according to a report on its consultation on policy recommendations released Tuesday. The SFC opened its initial policy recommendations to public feedback in February.

Under the rules, crypto exchanges are to maintain at all times no less than 5,000,000 Hong Kong dollars ($640,00) in capital, and at the end of each month, submit the platform's available and required liquid capital, a summary of bank loans, advances, credit facilities as well as a profit and loss analysis to the SFC. Approved tokens on regulated exchanges need a 12 month "track record," according to the rules.

 

China’s Metaverse Is All About Work

Nanjing, the capital city of China’s Jiangsu Province, has established the China Metaverse Technology and Application Innovation Platform to spearhead R&D in subjects related to the Metaverse. The new state-backed initiative aims to unlock synergies with academic institutions and enterprises, setting an ambitious target of creating a US$20B dollar industry by 2025.