Markets
Crypto market under pressure from Bitcoin
Bitcoin is negatively impacting the overall performance of the crypto market at the moment. However, it has found a lot of interest from buyers in the last two months, dropping to $60,000. A failure below this value could trigger a panic sell-off of sorts. The positive scenario, in our opinion, will become the main one with a rise above $65 thousand, fixing the price at the 50-day moving average and the reversal area at the beginning of May.
Crypto News
American venture capital fund Pantera Capital said it has invested a record amount in TON, which has not yet been disclosed. Pantera attributed the decision to invest in TON to the project’s potential to become one of the largest crypto networks. Toncoin (TON) rose almost 20% during the week, showing the best growth among the top 100 cryptocurrencies.
Ethereum co-founder Joseph Lubin said the US SEC is deliberately stifling innovation, threatening the future of the country’s financial system. According to him, “it appears that the SEC reclassified Ethereum as a security without notifying anyone.”
ARK Invest and 21Shares have removed staking from the app to launch a spot Ethereum-ETF ETF. This situation may indicate an attempt to “fix the paperwork” based on the SEC’s comments, despite the lack of official statements, according to Bloomberg.