US Inflation Data to be Announced at 15.30 on Tuesday
Inflation data will be released in the US today at 15.30. Inflation, which has retreated significantly with the tightening policies for months, came in at 4.9% in April against expectations of 5.0%. The expectation for May is seen as 4.1%. Fed officials and Chairman Powell have repeatedly stated that the main inflation target is below 2%.
New Record from Shibarium
Shibarium, Shiba’s layer-2 testnet launched in March, has set a new record. The number of transactions going through Shibarium continues to rise at a rapid pace. According to the data, the total number of transactions on Shibarium exceeded 20 million. It was also seen that the number of wallets on the Shibarium test network broke a new record and reached over 16 million. With the Shibarium test network, known as Puppynet, breaking these records, it remains to be seen when the main network will be launched.
Tether Mints 1 Billion USDT
USDT issuer Tether has minted 1 billion USDT to support cross-network exchange on the Ethereum network. This is Tether’s 2nd stock price in the last 2 months. billion in USDT minting. According to the statements of Tether CTO Paolo Ardoino, he stated that Tether works with third-party organizations and tries to help them balance their liquidity.
Version 2.0 Introduced on Polygon
Polygon Labs has released an announcement for Polygon 2.0 on their social media accounts and website. His vision is to build the Internet’s Value Layer, a basic protocol that allows everyone to create value.
Binance.US Continues to Lose Depth
Binance.US, which had troubled days after the SEC lawsuit, finally announced that deposits and withdrawals through banks would be stopped and some parities would be delisted. According to the incoming data, it is seen that the loss of depth on the Binance.US side is gradually increasing. According to The Block’s post, there is a deep loss of 78%. The main reason for this is considered to be the lack of liquidity and people’s aversion to trading.
BlockFi Gives Date for Customers’ Withdrawals
BlockFi, the crypto lending company, announced its bankruptcy last year and filed for bankruptcy and bailout without being able to deliver the funds of many of its customers. In a statement yesterday, BlockFi said that customers can start withdrawing their funds in the summer. BlockFi communicated this news to its customers via email. BlockFi stopped customer withdrawals on November 13th and customers have not been able to access their assets since then.
US Drafts Bill to Remove Gensler from Office
US lawmakers Warren Davidson and Tom Emmer aim to simplify the US Securities and Exchange Commission (SEC) and remove Gary Gensler from office with a new bill called the SEC Stabilization Act. Another important part of the bill is the appointment of a new SEC director alongside the new administrator, who will oversee day-to-day operations.
Circle CEO Says Stablecoin Legislation Must Come
Jeremy Allaire, CEO and co-founder of Circle, a USDC issuer, will address lawmakers at a meeting of the US House of Representatives Financial Services Committee on Tuesday in an effort to protect the safety and primacy of the US dollar. In his post, Allaire stated that stablecoins have helped the dollar’s lead and that stablecoin legislation should become a national priority.
BITCOIN [BTC]
Bitcoin is priced at $ 26,085 with a 0.70% gain in value as of today morning hours. We are seeing an upward movement in Bitcoin in the short term after the weekend drop. After rising above the 26,000 level in the morning hours, it managed to stay above 26,000, although it saw a resale. We would like to say that we may see upward and downward volatility before the inflation data to be released today, and then depending on how far the data has moved away from the expected level of 4.1%, we would like to say that we may see volatility in the market, especially short-term investors should be careful.
ETHEREUM [ETH]
ETH, which gained 0.49% as of morning hours, is priced at $ 1750. Ethereum started to make a horizontal movement in the range of 1720-1770, seeing support at the level of 1720 after the weekend drop. We can also say that the 1720 level in Ethereum is also a critical support level in the long term and that it will not be easy to break, so different opportunities may be encountered, especially before the data, but in case of a 1720 break, there is a possibility of encountering great selling pressure.
AVALANCHE [AVAX]
AVAX, which gained 0.49% as of morning hours, is priced at $ 11.65. When we look at the 3-day chart in AVAX, we see that the region we show in red is the critical support zone and that it has realized a turn from here for now. In the medium-term assessment of AVAX, we can say that the target level will be primarily in the $ 14 region. For investors who trade short-term, we can say that a horizontal movement took place in the range of 11.20-11.80 and that this movement can be benefited from.
