Correlation between Bitcoin and Ethereum, lowest since 2021 / Ethereum staking demand surges[5/13-5/19topnews]| coindesk JAPAN | Coindesk Japan

G7 finance ministers and central bank governors announced that they discussed crypto-asset regulation at their May 13 meeting in Niigata ahead of the G7 summit — a digest of the week’s top news.

The developers of the Ethereum blockchain just launched a successful upgrade, “Shapella,” in April that allowed them to withdraw staked Ethereum (ETH). But it’s already preparing for the next big upgrade. It’s “Dencun”.

At the official online meeting on May 11th, the developers delved into the technical details of EIP4844.

Bitcoin (BTC)’s 63% year-to-date gain could be the first step towards a bull market.

“Looking at realized and realized prices for long-term holders, we are approaching a bullish cross that has pinpointed the bottom of past bear markets,” Blockware Solution said in its May 12 weekly report. stated in the newsletter.

The G7 (major seven countries) has adopted the soon-to-be-issued norms of the Financial Stability Board (FSB) to regulate crypto-assets (virtual currencies) and the recommendations of the International Monetary Fund (IMF) on Central Bank Digital Currencies (CBDC). promised to implement.

After Musk tweeted the NFT image with the words “There is no meme, I love you,” the price of the controversial collection jumped 60%.

Bakkt, a subsidiary of the Intercontinental Exchange (ICE) in the United States that provides crypto asset services, has decided to sell many crypto assets, including well-known DeFi (decentralized finance) tokens ( virtual currency) was delisted.

Dogecoin (DOGE) daily transactions rose to about 10 times its normal level on May 14, following the introduction of a new mechanism that enables token issuance on the Dogecoin blockchain. recorded the highest.

Crypto investors looking to hold Ethereum (ETH) for yield will have to wait nearly a month before being set up as validators on the Ethereum network.

According to data from two sources, Ethereum’s staking latency spans 640 hours, or about 26 days. On the other hand, it takes only 0.026 hours, or 1.5 minutes, to exit the network.

As of May 15, the 30-day rolling correlation between Bitcoin and Ethereum price movements was 77%, the lowest since 2021, according to cryptocurrency data provider Kaiko, which was seen two months ago. % is significantly weaker.

Chinese prosecutors have warned that collections of NFTs (non-fungible tokens) share “attributes of cryptocurrencies” banned in the country.

The People’s Republic of China’s Supreme People’s Procuratorate issued guidelines on handling NFTs on May 15, recommending strengthening “risk investigation and judgment” and “accurately punishing crimes.”

The pressure on zero-yielding bank deposits is expected to continue, making ether (ETH) yields more attractive, Bernstein said in a May 15 research report.

RIZAP announced on May 15 that it has started a project jointly with HashPalette with the goal of releasing a “Workout to Earn” product for building a Web3 healthcare ecosystem. .

A groundbreaking cryptocurrency regulatory framework was signed into law by the European Union (EU) Finance Ministers on May 16.

The EU Council, representing 27 member states, unanimously approved the Markets in Crypto-Assets Act (MiCA), making the EU the first major judicial authority in the world to have a crypto-assets licensing regime. decided to become They also agreed on new anti-money laundering measures for fund transfers using crypto assets.

Weekly trading volume on the BNB chain’s decentralized exchange (DEX) has reached a one-year high, according to data from DefiLlama.

In the week starting May 7, BNB’s DEX trading volume reached $5.11 billion (approximately ¥700 billion, converted to ¥135 to the dollar), the highest level since early May 2022 (last November, It also climbed to just over $5 billion in the week immediately following the FTX crash.)

Cryptocurrency of P2E (Play to Earn) game Axie Infinity (AXS) announced that CoinDesk has announced that its card-based strategy game has debuted on Apple’s App Store. It rose after reporting.

Tether, the company behind the USDT stablecoin, has announced that it will use a portion of its profits to regularly buy bitcoin starting this month as part of a new investment strategy focused on bitcoin (BTC). bottom.

Ripple is launching a Central Bank Digital Currency (CBDC) platform that allows central banks, governments and financial institutions to issue their own digital currencies.

The platform builds on the company’s Private Ledger, launched in 2021 for CBDC issuance, and is based on the XRP Ledger.

In order to counter illicit financial flows through crypto-assets (virtual currencies), G7 countries must take the lead in implementing the recommendations of the Financial Action Task Force (FATF). said in a May 18 letter.

｜Text and editing: coindesk JAPAN editorial department
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