What Happened On The Crypto Market While Everyone Was Asleep – Review From May 28 From BeInCrypto

© Reuters. What happened on the crypto market while everyone was asleep – review from May 28

In the US, they submitted another application for the launch of Ethereum-ETF, in South Korea they doubt the safety of margin trading, the “whale” bought large volumes – these and other news on the morning of May 28 in our review.

Bitcoin (BTC) started the last day of the working five-day period with a fall. As of 06:28 (Moscow time), the cryptocurrency is trading at $ 37,871. Yesterday, the bitcoin rate was above $ 40,000.

The second largest cryptocurrency by capitalization – – also started Friday with a fall. As of this writing, the coin is trading at $ 2703.

Most of the cryptocurrencies from the top 10 of the CoinMarketCap resource capitalization rating showed positive dynamics of movement within 24 hours. The best daily growth was recorded at (+ 10.72%). During the week it grew more actively than others (+ 8%). The largest losses over the past 7 days were recorded in (-16.9%).

In the top 100 most capitalized cryptocurrencies, Helium (+ 34.93%) recorded the best daily growth, and Livepeer (+ 54.14%) over the week. Over the past 24 hours, Revain (-5.61%) has been the most actively losing market. The largest losses for the week were recorded at Terra (-40.12%).

Breaking news on the morning of May 28

  • An unknown large investor bought bitcoin for $ 3 billion, taking advantage of the price drawdown Analysts at Chainalysis write about this.

According to researchers, the “whale” (a large investor) acquired BTC at the time the cryptocurrency rate fell to $ 30 thousand.

  • WisdomTree has filed an application with the US Securities and Exchange Commission (SEC) to launch an Ethereum-based Exchange Traded Fund (ETF).

Information about this appeared on the official website of the regulator. The WisdomTree Ethereum Trust plans to launch Ethereum-ETF trading on the Cboe BZX Exchange. Previously, the VanEck team submitted an application for the issue of a similar derivative.

Recall that no one has yet managed to get SEC approval to launch a crypto ETF in the United States. Former head of the Commission, Jay Clayton, considered the financial instrument not safe enough.

New Chief Commissioner Gary Gensler is known for his interest in the crypto industry. Investors hope that under his leadership the regulator will approve the financial instrument. This is largely why, against the backdrop of a change in the head of the SEC, many market participants resumed the race to launch the first crypto ETF in the United States.

  • South Korean regulators believe that leveraged cryptocurrency trading harms the banking system. This was stated by the head of the Bank of Korea Lee Joo Yeol, reports The Korea Herald.

According to South Korean regulators, leveraged cryptocurrency trading exposes market participants to the risk of losing money. At the same time, local authorities do not consider trading in digital assets without leverage to be safe either.

“We expect that [увеличение объема криптоторговли] will have a negative impact on the financial system in any case, ”said Li Zhu Yele.

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