Crypto News Today: Crypto Tumble on Expected Inflation News

Crypto market dips slightly, total value at $2.67 trillion

• Franklin Templeton establishes a significant precedent for spot Ethereum ETFs with a 0.19% sponsor fee.

• Post-Trump conviction, a surge in deepfake videos raises concerns in the crypto industry regarding digital security and scam threats

Crypto Fear and Greed Index:

The Crypto Fear and Greed Indicator shows a "Greed" sentiment at 72, slightly lower than yesterday's 73 and last week's 75.

Crypto experienced a significant surge in the last 24 hours

TOP 5 Gainers Coins

Latest Market Update: 

• On Saturday, crypto markets saw a decline in trading activity, in line with anticipated inflation statistics.

• Popular altcoins, such as #Beam ($BEAM), #Pepe ($PEPE), #Lido DAO ($LDO), and #Ondo ($ONDO), saw increases in their value.

• The #Jasmycoin ($JASMY) token emerged as the top gainer, soaring by over 17.09% within 24 hours.

• Conversely, #Uniswap experienced the most significant loss, dropping by over 6.81% in the same 24-hour period.

• Total crypto market volume over the last 24 hours is $75.07B, a 9.51% decrease.

• DeFi volume is $5.26B, representing 7.01% of the total crypto market 24-hour volume.

• Stable coins volume is $70.92B, making up 94.48% of the total crypto market 24-hour volume.

• Bitcoin’s dominance is 52.77%, a 0.30% decrease from the previous day.

Major Worldwide News Update:

• The Core PCE Price Index rose by 0.2% month-over-month in April, meeting expectations but slightly below the previous month's 0.3% increase. While this may alleviate some inflation worries for the Fed, sustained readings are needed to consider a potential rate cut by September. Additionally, the Chicago PMI fell to 35.4, lower than the expected 41.1, signaling a decline in manufacturing activity.

• Lawmakers requested President Biden to revoke SEC's SAB 121, but he vetoed the bill despite House and Senate approval. Biden stressed consumer and investor protection, signaling support for SEC's crypto regulations. The decision disappointed Ripple CEO Brad Garlinghouse, who urged the administration to demand Gary Gensler's resignation for crypto reform.

• Franklin Templeton's Ethereum ETF sets a precedent with a 0.19% sponsor fee, sparking a potential fee war. After SEC approval, updates to S-1 filings pave the way for trading. This fee aligns with their Bitcoin ETF's reduced rate, hinting at fierce competition. Other issuers may follow suit, shaping market dominance.

• Coinbase warns of deepfake scams surging in crypto amid security concerns. Following Trump's conviction, AI-generated images flood social media, aiming to manipulate perception. Coinbase's CISO, Jeff Lunglhofer, highlights YouTube's vulnerability. He advocates for advanced security measures like multi-sig signing and passkeys to combat rising threats.

• Crypto influencer Ansem stirs controversy with posts engaging Ethereum's Vitalik Buterin. Discussions arise on Ethereum's efficiency versus Solana. Ansem faces criticism over the Davido token crash, prompting apologies. Buterin's retweet sparks further debate. Ethereum supporters affirm its dominance despite challenges from Solana.

• Ripple CEO Brad Garlinghouse urges firing SEC Chairman Gary Gensler to solidify the U.S. administration's support for crypto. Mixed reactions from Crypto X members: some agree, others doubt feasibility. Concerns arise over Gensler's influence and potential repercussions for the government's operations.

• DMM Bitcoin reported a loss of around $300 million in a major unauthorized bitcoin leak from its digital wallet. Chainalysis labeled it one of the largest crypto hacks ever. Japanese authorities are investigating, following past cryptocurrency scandals like Mt. Gox and Coincheck.

COIN GABBAR Views: Is BTC price consolidation ongoing, signaling a potential run towards new all-time highs? What's causing Ethereum's price to remain below $3,800? Could there be significant developments on the horizon? To get latest news Stay tuned us at coingabbar

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