30 May: Dormant Ethereum Wallet

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Happy Tuesday Folks! Yesterday, we observed Memorial Day and the focus this week will be on the debt ceiling deal,
the CME gap, Bitcoin mining difficulty, Hodl trend in continuing to rise, and the MACD crossover; the price of Bitcoin is currently at $27,892.11. The fear and greed index took one step back to 51 and the best performing asset for the past 24 hours is $SOL up 0.51%; in position #10. Let's get on to the news...

As I mentioned last week and over the week, Bitcoin was way to quiet. So, volatility is on the way as Bitcoin is set to move out of equilibrium. Meanwhile, Bitcoin is headed for the first monthly loss in six months; unless it can reach $31K before the end of the day. That said, a historical golden cross is coming indicating the next rally may be imminent.

There is an arbitrage situation with Bitcoin selling for $5K cheaper on Binance Australia if paid in $AUD. Say what you will about NFTs on the Bitcoin Blockchain but Ordinal fad is not fading; 10M inscriptions in less than six months as creator Rodarmor steps down and a bridge to allow Ethereum NFTs has been created.

There will not be a 30% crypto mining tax thanks for the deal on the debt celing. Unfortunately, Texas seems to be moving in the opposite direction. Speaking of mining, Tether doubles down on Bitcoin by indicating that it would begin mining operations in Uruguay. As you can see more and more mining is leveraging renewable energy; it's on a collision course with "Net Zero" promises. The difficulty of mining bitcoin is poised to set a new all-time high this week as miners continue to deploy new mining machines to cash in on recent spike in revenue. 

El Salvador as we know is definitely a beacon of hope and continues to build it's team by adding Saifedean Ammous.

Dormant Ethereum wallet from ICO era abruptly wakes up after eight years with 600,000% gains. KuCoin apparently has accidentally burned millions worth of Ethereum. XRP network activity hits record-breaking levels.

The drama with SBF continues to drag on and it doesn't appear he will get his warrant dismissed and the U.S. government is pushing to have an independent inquiry into the FTX despite concerns over cost. FBI issues warning to Americans, says fake job advertisements force victims to commit Crypto scams.



Podcast of the Day: SLP482 Burak - Ark: A new L2 protocol for Bitcoin | SLP

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The Crypto Curator
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