May 1, 2024 at 05:51Contents
- 1 🤖 Hong Kong authorities have taken up the use of AI in the financial market
- 2 🌠 A prominent trader has predicted Bitcoin to fall to $35,000.
- 3 🆙 Renzo Protocol has announced the next major upgrade in May
- 4 🪙 Coinbase launches Lightning Network support
- 5 🥲 Trader lost $152,000 in 30 minutes due to insider trading
- 6 🔑 Key crypto market highlights (May 1-8)
- 7 💵 Ideas
Hello, fellow crypto enthusiasts! 👋 As we embark on another week in the ever-evolving crypto space, let’s delve into the latest news, insights, and ideas that await us.
The Hong Kong government will soon publish its policy stance and recommendations on the application of artificial intelligence in the financial market.
🌠 A prominent trader has predicted Bitcoin to fall to $35,000.
Trader Peter Brandt believes BTC may have already peaked and predicts it could fall to around $35,000.
🆙 Renzo Protocol has announced the next major upgrade in May
The next major Renzo upgrade, which will enable ezETH withdrawals, is scheduled for May 2024. Once live, the code will have been successfully reviewed by three auditors.
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🪙 Coinbase launches Lightning Network support
In partnership with Lightspark, Coinbase has rolled out support for the Lightning Network enabling instant, low-cost bitcoin transfers. Users will have the option to choose between using Lightning for faster and cheaper Bitcoin transactions or processing their transactions on the traditional Bitcoin network.
🥲 Trader lost $152,000 in 30 minutes due to insider trading
A trader lost $152,000 in half an hour after falling victim to insider trading of the CoolCoin (COOL) meme coin on the Solana network. According to Lookonchain analysts’ observations, he spent $1,600 worth of SOL to buy 2.2 million COOL but managed to sell it for only 532 SOL in half an hour.
🔑 Key crypto market highlights (May 1-8)
- Ethena (ENA) token unlocks – 53.6M coins, or 3.76% of the circulating supply (01.05).
- ZKFair will launch EIP-4844 on the mainnet (01.05).
- Nym (NYM) token unlocks – 45.63M coins, or 6.36% of the circulating supply (03.05)
- Sui (SUI) to unlock 34.62M tokens, or 1.48% of the circulating supply (03.05).
- Memecoin (MEME) token unlocks – 5.63B coins, or 33.56% of the circulating supply (03.05)
- Galxe (GAL) to unlock 5.18M tokens, or 5.76% of the circulating supply (05.05).
- Heroes of Mavia (MAVIA) token unlocks – 7.66M coins, or 25.53% of the circulating supply (06.05)
- Solama (SOLAMA) will be listed on BingX (07.05).
- Hashflow (HFT) to unlock 13.85M tokens, or 3.52% of the circulating supply (07.05).
- Lyra Finance has announced that all LYRA balances will be snapshotted and migrated to LDX (08.05).
💵 Ideas
[1] 🔔 New Tabi quests
Tabi has released a new batch of quests for which users can get a GG token.
The quests (here) are quite simple, you can farm Phoenix Feather (PF) for them, which can then be exchanged for GG (a tradable and valuable on-chain asset) and open chests. The more rare the chest, the more valuable it is. The link to the leaderboard is here.
Chests
- Iron Artifact – 20 PF;
- Copper Artifact – 200 PF;
- Silver Artifact – 1000 PF;
- Gold Artifact will be given to the top 500 participants;
- Diamond Artifact — to the top 50 participants.
Invite codes for Tabi
- 8GXQK pimnP ooP77 148X5
- s2PNJ RfyFI qcnE7 hsVyY
- d2o7E srfcl ulZQg BIxhy
- 7KXF6 idm4W Tn4tl 8ysT3
- sif44 TKaEa gVWxL Hji77
[2] 🔔 Closely following Starknet (STRK)
According to trytofeelpositive`s technical analysis, Starknet (STRK) is waiting for a few waves, and it is worth taking advantage of it. Traders can orient themselves on the pattern below.
- Entry: market and lower.
- Targets: $1.5, $1.75, $2.1.
- After reaching the first target, move the stop to breakeven.
- Stop: depending on your risk.
*Any technical analysis, in the long run, cannot accurately predict the movement because now is a very tough market and the news can swing currencies in all directions.
[3] 🔔 Getting a drop from the Aethir project
Aethir is a cloud network where all content is rendered in a decentralized manner. Aethir creates a scalable decentralized cloud infrastructure (DCI), and their network helps various companies deliver their product to users, regardless of their hardware to their geolocation.
Complete the Galxe and Layer3 quests to farm points to get the ATH token. Minimally, on Galxe users have to gain 1000+ points to qualify for the drop. Right now, 700 are available, but new quests are coming soon. Deadline is May 12.
What to do?
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