American wage data confirms continued inflation, with cryptocurrency and US stocks falling
- The total holdings of the US Bitcoin ETF increased by approximately 33.1%
According to Odaily Star Daily, despite the slowdown in inflows of the US Bitcoin ETF spot market, the total holdings of these funds have remained positive since trading began. As of April 29th, the total holdings of BTC ETF were 831,424 BTC, an increase of about 33.1% since January 11th.
- US wage data confirms continued inflation, leading to a decline in cryptocurrency and US stocks
According to Blockworks reports, on Tuesday, as the latest wage data confirmed ongoing inflation, cryptocurrencies and US stocks experienced declines. Bitcoin (BTC) and Ethereum (ETH) fell by about 3% and 5% respectively within 24 hours, erasing gains from Monday. Analysts attributed this decline to lower-than-expected trading volume for spot Bitcoin and Ethereum exchange-traded products that debuted in Hong Kong earlier this week.
Mike Tauckus, Head of Trading and Structuring at BitOoda stated: "The disappointing ETF trading volume in Hong Kong led to significant selling pressure for (Bitcoin and Ethereum), resulting in a drop of around 3.5% at opening." Wage data from the US Bureau of Labor Statistics showed a year-on-year increase of 4.4% in wages and salaries last month. This growth did not convince traders that high inflation is a thing of the past. The Federal Open Market Committee meeting begins today with central bankers set to announce their interest rate decision on Wednesday afternoon.
- Major unlocking tokens announced for May worth over $36.61 billion
According to Wu Shuo's report, TokenUnlocks data shows that major unlocking tokens (unlocking value exceeding $10 million) for May include DYDX, ENA , SUI , MEME , GAL , MAVIA , APT , STRK , AEVO , ARB , APE , IMX ROSE PIXEL PYTH AVAX ID YGG OP PRIME etc., with a total unlocking value exceeding $36 .61 billion.
- Issuance of Hong Kong Bitcoin and Ether Spot ETFs will drive industry-scale development
According to Odaily Star Daily reports，industry insiders believe that issuing Hong Kong Bitcoin Spot ETFs and Ether Spot ETFs will significantly reduce entry barriers，enhancing attractivenessand accessibilityof bitcoinand ethereum.Thiswill continue todirectly bringa large amountof new capitaltothe virtual asset industry,promoting it towards larger scale development。
- Bitwise Chief Investment Officer: Comprehensive stablecoin legislation may drive widespread applicationsof cryptocurrencies
AccordingtoOdailystarDailyreports,BitwiseChiefInvestmentOfficerMattHouganrecentlysaidthatiftheUSCongresspassescomprehensive stablecoinlegislationthisyear,itseffectsmayexceedthelaunchoftheUSspotbitcoinETF.Hougansuggestedthatthisimportant signalhasbeenunderestimatedbythemarket.Houganpredictsthatasthefirst comprehensive cryptocurrency legislation passedbyCongress,thisbillwillallowbankslikeJPMorgantoenterthisfield,millionsindividualsandbusinesseswillhaveaccesstoencryptedwallets,stabl ecoins,andblockchain-basedpaymentchannels,andusingstablecoinsforpaymentsmaybecomecommonplaceinthenextfewyears。
- HKMA releases its annual report for2023,pushingforwardregulationoncryptocurrencyassets
As reported by Odaily Star Daily,theHongKongMonetaryAuthority(HKMA)releasedits"AnnualReport2023,"whichincludesfinancialstatementsforforeignexchange fundsandthe"SustainableDevelopmentReport2023".Theannualreport'sfocusonworkin2024andoutlooksectionincludescryptocurrencyassets(particularlystablecoins).HKMAnotedthatpublicconsultationonregulatingissuersofstablecoinswilltakeplacefromDecember2023toFebruary2024.TheHKMAwillcollaboratewiththegovernmenttopushforwardrelevantlegislative work,andcontinuetocommunicatewithvarious stakeholderswhilepayingattentiontomarketdevelopmentsandrelevantinternationaldiscussionsduringthedesignandimplementationofregulatorysystems。
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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