Global #cryptocurrency

A prominent figure in the cryptocurrency community suggests that the markets have yet to fully absorb the impact of Bitcoin's recent halving, which halved the rewards for BTC miners.

In recent weeks, the leading cryptocurrency has seen increased volatility, surging from approximately $61,000 on May 14 to surpass $71,000 by May 21. However, this upward momentum was interrupted by a corrective phase, causing the asset to dip below the $67,000 mark on May 24.

In a surprising development within the Bitcoin mining realm, a notable decrease in Bitcoin's mining difficulty has opened doors for more cost-effective miners to secure a greater share of the market.

The recent approval of Ethereum exchange-traded funds (ETFs) may lead to a shortage of available Ethereum on the market, potentially impacting the second-largest cryptocurrency by market capitalization.

Blockchain data indicates that Bitcoin whales, who are significant holders of the cryptocurrency, are increasingly inclined towards accumulating more coins, suggesting a renewed confidence in the bull market.

Coinbase utilized ongoing political developments in the U.S. Congress to strengthen its interlocutory appeal against the SEC. In a court filing dated May 24, Coinbase contended that the SEC attempted to "bypass" the Howey test, a legal standard used to identify securities. The crypto sector and the SEC have long disputed the application of this test to digital assets.