Crypto

Crypto Market Analysis

Crypto Market Analysis | 31 May 2024 

Crypto Market Analysis

The TRUMP meme coin plummeted by up to 35% following the jury’s verdict on all 34 counts in New York.

Aptos will be the first blockchain to integrate Chainlink’s services using the Move coding language. This development will enhance the capabilities of developers building decentralized applications (dApps) on the Aptos network.

A16z and Ripple have each invested nearly $50 million into U.S. political action committees (PACs).

Bitcoin remained steady at around $67,800, while altcoins like SHIB and DOGE dropped up to 5% ahead of today’s anticipated U.S. inflation data release. Traders are cautious, as higher-than-expected inflation could push Bitcoin down to $65,000. The yield on the U.S. two-year note is approaching 5%, which may draw investors looking to secure yields and hedge against a potential economic slowdown. On the other hand, Bloomberg analysts believe the listing of a spot Ether ETF by the end of June is a “legit possibility.”

Disclaimer: Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. The information provided in this post is not to be considered investment/financial advice from CoinSwitch. Any action taken upon the information shall be at the user’s risk.

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