Crypto News – This week will see several significant events that will continue to shape the rapidly changing cryptocurrency market.
Crypto News of This Week: Crypto Newsletter for the Next 5 Days
Here’s a summary of what market observers might expect, from earnings announcements to big launches and important judicial procedures. With this article as a guide, you can easily find out what might occupy the agenda this week.
ETH Beta Coins Expected to Rise
This week, Ethereum has exhibited signs of strength, indicating a positive outlook for ETH beta plays. The term “ETH beta” describes various altcoins with significant volatility that are built on the Ethereum network. Lido (LDO), Optimism (OP), and Etherfi (ETHFI) are a few well-known instances of this category. As a result, it is anticipated that the value of all ETH beta coins will rise in tandem with Ethereum’s gains.
Coinbase Earnings Report to be Released on May 2
On May 2, Coinbase, a well-known cryptocurrency exchange, will announce its Q1 financial results. Forecasting a rise in earnings driven by the current recovery in the cryptocurrency market, analysts are upbeat. As of this writing, COIN’s closing price on April 30 was $218.16.
Theta Network Will Revolutionize the 3D Render Industry
By creating new jobs for its Theta edge nodes on the Windows platform, Theta Network hopes to transform the 3D rendering business. This hybrid cloud computing technology, called EdgeCloud, will enable a full 3D development workflow. This move might improve Theta’s standing in the tech ecosystem and have a major impact on a variety of industries, including education and entertainment.
FED to Announce Interest Rates on Wednesday
The US Federal Reserve will make its interest rate announcement this Wednesday. This is an important step for cryptocurrencies as well as the financial markets. The cryptocurrency community anticipates steady interest rates.
Tokens to Unlock in May
An important date in the cryptocurrency calendar is May 2024, when token unlocks worth about $3.58 billion are planned for several projects. Such occurrences are probably going to add a significant amount of liquidity to the market. Avalanche (AVAX), Aevo (AEVO), and Pyth Network (PYTH) are token unlocks that would also be interesting to observe.
Renzo Protocol Plans First Airdrop
With the April 30 debut of its REZ token, Renzo Protocol—currently the second-largest liquid blockchain protocol—is grabbing media attention. In response to the overwhelming interest generated by Binance’s Launchpool program, Renzo plans to airdrop 7% of the REZ supply.
KMNO token Launched on April 30
Kamino makes another important breakthrough. On April 30, the prominent money market-based in Solana will launch its KMNO token. A significant amount of the supply is given to essential contributors and advisors, and 35% is devoted to expansion activities.
Changpeng Zhao to Stand Trial
Changpeng Zhao, the former CEO of Binance, will be sentenced for violating the Bank Secrecy Act in a US court in Seattle. The result might have a significant impact on regulatory procedures inside the crypto sector, as federal prosecutors are recommending a three-year prison term and a hefty fine.
Leave a comment