Stalemate at $30,000 Bitcoin milestone, number of unique addresses reaches record high


Macroeconomics and financial markets

In the US NY stock market on the 17th of the previous weekend, the Dow Jones Industrial Average was 76 dollars (0.22%) higher than the previous day, and the Nasdaq Index was 131 points (0.93%) higher.

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Virtual currency market

In the crypto asset (virtual currency) market, the Bitcoin price is 0.55% lower than the previous day at 1 BTC = $ 30,148.

BTC/USD daily

With the US Federal Open Market Committee (FOMC) coming up, is it becoming a wait-and-see trend? As long as the Bitcoin ETF (exchange-traded fund) is not approved, we cannot deny the impression that it will lack a decisive blow to break the major resistance line (upper resistance line) of about $32,000.

According to The Block’s data dashboard, the number of unique addresses on the Bitcoin network has reached a year-to-date high, confirming its activity. The weekly average of newly created wallet addresses surpassed 499,000 on April 8 and reached 500,000, the highest level since May 2021.

The block

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Regulatory response

SEC Chairman Gensler made his first public comment on the district court’s ruling in the XRP case at an event hosted by the National Press Club in Washington, D.C., on Wednesday, expressing his regret.

In December 2020, the SEC filed a securities lawsuit against Ripple for selling “unregistered securities.” In response, after two and a half years of negotiations, a US district court ruled in summary judgment that the retail sale of XRP does not constitute securities (does not constitute an investment contract). granted a partial victory.

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However, it also acknowledges that XRP is a security when sold directly to institutional investors under specific written agreements.

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Major cryptocurrency exchange Binance is considering laying off up to a third of its workforce after being sued by the U.S. Securities and Exchange Commission (SEC), some analysts say. He said the Wall Street Journal report raised concerns about its financial health.

Employee benefits will also be reduced starting June 19, citing lower operating margins as a result of the current market and regulatory environment.

For Binance’s native token BNB, open interest (OI) in perpetual futures contracts has hit a record high.

With the Funding Rate (Funding Rate) significantly negative, some voiced concerns about bad news surrounding the US Department of Justice (DOJ).

Binance is under investigation by the U.S. Department of Justice (DOJ) for alleged anti-money laundering (AML) violations and Russian sanctions violations, Bloomberg reported in May.

However, Udi Wertheimer pointed out that this is due to the token sale of Binance IEO Launchpad Arkham (ARKM), which may be resolved after the BNB is unlocked. Since the number of tokens that can be purchased during the token sale depends on the average BNB holdings during the event, large BNB holders are hedging price fluctuations by shorting perpetual futures contracts, he said.

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