BNB stumbles; US equity futures are flat ahead of the Fed’s interest rate decision as BTC, ETH, and LTC rise

On 3rd May 2023, both Bitcoin (BTC) and Ether (ETH) experienced a significant surge in trading activity in Asia. The leading non-stable currencies displayed mixed results. Litecoin (LTC) emerged as a profitable digital currency, with the exception of BNB, which suffered losses. In contrast, regional lender stocks experienced increased selling following a series of bank failures since March 2023, including First Republic Bank over the weekend. Investors are closely monitoring for any signals of potential rate hikes prior to the Federal Reserve’s planned increase in interest rates in May 2023. In order to see more, you can visit https://bitcoin-freedom.com/

Cryptocurrency

According to Coinmarketcap’s data, bitcoin prices increased by 2.13% against the US dollar, reaching 28,684 as of May 3rd. It has become the biggest cryptocurrency in the world as its price has seen an increase of up to 1.36% in seven days. Due to a number of concerns that have begun to arise in the banking sector, bitcoin has begun to grow very quickly. The global financial crisis “banks appeared to suffer just at a time when there was a greater need for liquid assets that are reliable, peer-to-peer, and do not require intermediaries.” By the end of the year, says Kendrick, bitcoin might reach $60,000; he also predicted that by the end of 2024, it might reach $100,000.

Charlie Lee, the developer of Litecoin and a former Google Engineer, stated on Twitter on 2nd May 2023 that the coin’s next halving will take place in the next 92 days and may rise to 10 percent of Bitcoin’s value. Token creation results in a decrease in supply and a potential price increase. The biggest cryptocurrency exchange in the world, Binance, will launch in the United States this year. preparing to open. The Commodity Futures Trading Commission filed a lawsuit against it for allegedly breaking federal regulations, and the Securities and Exchange Commission opened an investigation into the matter.

Equities

At 8:00 AM in Hong Kong on 3rd May, stock futures displayed mixed results. While Dow Jones Industrial Average futures showed a 0.033% rise and the S&P 500 futures index saw a 0.018% increase, Nasdaq-100 futures seemed to drop by 0.047%. With inflation at 5%, analysts at CME Group estimate an 86.7% probability of an interest rate change. In regular Tuesday trading, all three indices ended down due to a sell-off in regional US banks caused by concerns about the instability of the country’s banking system.

NFT

To make a new investment in NFTs, Blend is coming up with the P2P Lending Protocol, introduced to the world on 1st May 2023 and launched by Blur, the largest NFT marketplace. According to data from the crypto platform Dune Dashboard, since its launch, the protocol has facilitated more than 900 loans valued at over U.S. $19.2 million in Ether. With Blend, users can provide collateral to purchase expensive NFTs, which the developers liken to a mortgage used to buy a home. In a separate announcement, American sports magazine Sports Illustrated revealed on Tuesday that it has partnered with blockchain company ConsenSys to launch an NFT ticketing platform on the Polygon Network called “Box Office by SI Tickets.” The platform will offer tickets for live sports events, complete with exclusive deals and loyalty benefits.

Brian Boisjoli, the product manager at NFT industry data aggregator CryptoSlam, stated, “Blr has launched Blend, which enables users to purchase NFTs worth up to 15 ETH with only a 2 ETH down payment, complete with interest rates. It’s evident to me that this lending protocol will bring in more capital.”