Hiya, to those anticipating Friday! The buidlbee’s crypto community team did the best (as we usually do) and gathered for you the juiciest stuff. Below, you will read briefly about the main events in the market, their analytics, and a selection of interesting ways to earn on the activities.
Here is a more extensive recap:
And now on to the highlights of the day:
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Shares of 100% of all regional banks in the United States today, for the first time in the history of the U.S., are in the red. Some are doing quite badly, and trading on them has been stopped; some are just starting to fall and have reached a modest -15%.
All this chaos comes the day after Federal Reserve Chairman Jerome Powell said that the U.S. banking system is stronger than ever.
Nearly half of the 4,800 U.S. banks have already used up their capital reserves and are operating with negative capital. They may be able to find creative ways not to report these losses under U.S. accounting rules, but that won’t make them solvent — a recent report from the Hoover Institution says so.
That report also indicates that more than 2,315 U.S. banks have assets that are worth less than their liabilities. The market value of their loan portfolios is $2 trillion below their reported book value. While the smartest take their money out of the dying banks, the rest can be advised to buy some popcorn while waiting for the interesting events ahead.
The world of cryptocurrencies has its own problems; the most pressing right now is the huge commissions, and this applies to both Bitcoin and Ethereum at the same time.
Due to the hype around meme coins, Ethereum fees have reached an annual high. The average cost per transaction on Ethereum has now exceeded $15.82.
The situation with Bitcoin, where the effective fee is currently around $7-9, is more confusing. So far, different researchers have cited three very different reasons for the increase in the network’s load:
And finally, the third reason — the spam attack on the Bitcoin network that is carried out in the form of crypto-dusting (that we wrote about here) — is the so-called spam storm. In the last few days, a huge amount of unconfirmed transactions (~300k) accumulated in the Bitcoin network’s mempool. That hasn’t happened for a long time! And most of the coins used for the attack come from the Binance exchange.
The new #TURBO meme, created by ChatGPT, quickly surpassed its $50M capitalization and now has about 10k holders. You can read more about it here. The initial stage of the #TURBO promotion is very similar to the hype surrounding other meme coins. If you like the success of #PEPE (but missed its launch), here’s another opportunity to catch the next rocket.
JasmyCoin (JASMY) is a cryptocurrency project of Jasmy Corporation, a Tokyo-based Internet of Things (IoT) company. Jasmy specializes in buying/selling data, and the Jasmy platform combines two categories: service providers and data users.
JASMY forms another retest of the strong resistance line. The previous attempt to break through the resistance resulted in a retest of the strong support at $0.005742.
Analyst RLinda paid attention to the support, which might indicate that the whales were actively gaining liquidity in these areas. Another retest of the resistance is forming now.
If the breakout attempt is successful, then it will have bullish potential with further growth to $0.008325 and $0.01200.
Aurora helps Ethereum and dApps users easily migrate to the NEAR blockchain. It allows you to do two different things: upload Solidity smart contracts and interact with them on the NEAR blockchain; and move assets (including ERC-20 tokens) between Ethereum, NEAR, and Aurora via Rainbow Bridge.
Aurora has launched quests on the Zealy platform (formerly called Crew3) and 2048. They will give experience (XP) for completing the activities, which can be exchanged for Aurora tokens at the end of May.
The campaign will be active for one month. Don’t forget that many tasks are updated daily!
Don’t forget to subscribe to our newsletter and do your own research (DYOR)! See you again on May 9!
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