💬 Overnight news to wake up to

📈 Hedge fund Millennium Management bought shares in a BTC ETF valued at $2 billion.

💰 Positions of 50,000 traders were liquidated as the price of bitcoin reached $66,000 amidst news of a US rate cut (from 3.5 to 3.4%).

💎 Trading of NOT opens today at 12:00 UTC. Any listings mentioned before this time may only help you lose money.

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Good morning!

The market is on the upside today, with most alts in the green. BTC is now trading around $65,825. ETH is around $3005.

⭕Fear/Greed index: 70 - greed

📈Morning news roundup:

🗣 Ripple and Evmos to launch EVM sidechain for XRPL.

🗣 El Salvador announces investment offerings in BTC sidechain.

🗣 Robinhood launches its first crypto-staking product.

🗣 In numbers: more than 1 million new crypto-tokens issued since April.

🗣 CME Group prepares to launch BTC spot trading amid Wall Street interest.

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🇦🇺 According to Bloomberg, Coinbase is planning to enter the Australian retirement market worth over $600 billion.

The exchange is developing a service aimed at non-governmental pension funds, which make up about a quarter of the country's pension system.

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💰 The largest holders of Bitcoin ETF in the first quarter

1️⃣ Millennium Management ($1.8 billion) - 3% of the portfolio.
2️⃣ Susquehanna ($1.1 billion).
3️⃣ Horizon Kinetics ($989 million).
4️⃣ Bracebridge ($404 million).
5️⃣ Boothbay ($303 million).

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💰 Lookonchain reports that an unknown trader made 137x profit in just 5 minutes.

The trader bought the TOBI shieldcoin on Raydium for 9 SOL and almost immediately sold it for 1,229 SOL.

As a result, he made over $202,000 dollars in just a few minutes.

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🗞Good morning!

Today the market is down, most altcoins are red. BTC is currently trading around $65,465. ETH around $2,950.

⭕️ Fear/Greed Index: 74 - Greed

📉 Morning news roundup:

🟢 BTC supply on exchanges is falling to new lows.

🟢 Institutional investors prefer Solana due to significant profits.

🟢 The Chainlink fund tokenization pilot project is successful with major banks participating.

🟢 Experts link North Korea and Tornado Cash with cryptocurrency laundering.

🟢 937 institutional investors reported holding BTC-ETFs – "ten times more than gold ETFs."

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⚡️ According to Durov, the success of Notcoin demonstrates the effectiveness of the Telegram and TON ecosystems for application developers.

🗣In a short period of time, Notcoin attracted more than 35 million users and entered the top ten cryptocurrencies with the largest trading volume.

🗣Its market capitalization is approaching 700 million dollars.

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⏳ CryptoQuant analyst Ki Yun Joo suggests that the current bull cycle of bitcoin may end by April 2025.

He observes a gap between BTC's market capitalization and its realized capitalization, indicating a possible turning point in the two-year bull cycle.

If this pattern persists, then the current period can be considered as its middle.

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🪙 The cost of bitcoin mining has dropped from $50k to $45K

The more prices drop, the more unprofitable miners are forced to leave the BTC network and the greater the decline in hashrate and mining costs.

A couple fan facts:
🔷Because of the increasing complexity of the blockchain, the remaining 1.36 million BTC will be mined for about 120 more years (until 2140).
🔷It takes 4*10^20 computational operations per second to create a block.
🔷A farm of 36 Nvidia GTX 1070 Ti graphics cards can mine 1 Bitcoin in 705 years 😢

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🏧 Arbitrum offers to integrate MultiVM into its networks, Arbitrum One and Arbitrum Nova.

If ArbitrumDAO approves this proposal, MultiVM integration will improve the functionality and performance of both networks.

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Top news today (May 17)

1️⃣ Tether prints another 1,000,000,000,000 USDT

2️⃣ In an Asian confectionery shop, a customer paid for his purchase with USDT

3️⃣ Turkey develops legal framework to regulate cryptocurrencies

4️⃣Fraudulent Notcoin vouchers are being sent to TON wallet users in masse

5️⃣ Telegram and TON ecosystems drive app growth, as Notcoin success shows

6️⃣ According to BitRiver, Russian miners mined about 54,000 BTC in 2023

7️⃣ Notcoin Foundation donated 1,030,383,291.36 NOT to Pavel Durov

8️⃣ Blum published their roadmap

9️⃣ Kraken exchange considers delisting USDT stablecoin for European users

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