The Federal Reserve vs Monopoly ETFs vs Mutual Funds on the Blockchain

Headline

▌Musk compares the Federal Reserve to Monopoly

According to Bitcoin Magazine on the X platform, Musk compared the Federal Reserve to Monopoly.

▌Franklin Templeton: All ETFs and mutual funds will eventually appear on the blockchain

Jenny Johnson, CEO of Franklin Templeton, said that he is a big fan of blockchain technology. Blockchain is a very efficient technology. He believes that blockchain will bring many new investment opportunities. All ETFs and mutual funds will eventually appear on the blockchain.

Market

As of press time, according to Coingecko data:

BTC's latest transaction price is $60,991.64, with a daily increase or decrease of -0.08%;

ETH's latest transaction price is $2,917.12, with a daily increase or decrease of -0.52%;

BNB's latest transaction price is $592.5, with a daily increase or decrease of +0.55%;

SOL's latest transaction price is $145.9, with a daily increase or decrease of -0.86%；

DOGE's latest transaction price is 0.1441 US dollars, and its intraday change is -0.98%；

XPR's latest transaction price is 0.5064 US dollars, and its intraday change is +0.23%。

Policy

▌Trump declared support for cryptocurrency and criticized the Biden administration

At the NFT event held in Florida, former US President Trump claimed to support cryptocurrency and criticized current President Biden and his administration. He said that voters who support cryptocurrency will support him and promised to accept cryptocurrency donations. Trump also promoted his NFT at the event and called himself an advocate of cryptocurrency. At the same time, he criticized the Biden administration's position, saying that its attitude towards cryptocurrency was vague. Trump's remarks have attracted widespread attention from the cryptocurrency community.

Blockchain Applications

▌dYdX: dYdX Chain is completely decentralized and governed by the community

On May 12, dYdX tweeted that dYdX Chain is completely decentralized and governed by the community.

▌Layer2's share of Ethereum ecosystem transaction activities has risen to 82%

On May 11, Haun Ventures partner Sam Rosenblum shared data on the X platform and said that 82% of the activities in the Ethereum ecosystem currently occur on Layer2 such as Arbitrum, Optimism, and Base.

▌JPMorgan Chase will open its permissioned blockchain Onyx to third-party applications

JPMorgan Chase plans to open its permissioned blockchain Onyx to allow third parties to deploy applications, which will also enable others to tokenize assets on the JPMorgan Chase blockchain. It is reported that the JPM Coin Systems team, a blockchain-based account solution, is focusing on building Onyx Digital Assets and working with third parties in this field. In addition, JPMorgan Chase Vice President Stephanie Lok revealed that the Onyx blockchain has now processed more than $1 trillion in nominal transactions and up to $2 billion in transactions per day.

Cryptocurrency

▌Jack Kong: Hong Kong is the core hub of the Bitcoin ecosystem

Jack Kong, founder of Nano Labs and director of Hong Kong Cyberport Management Co., Ltd., posted on the X platform that Hong Kong is the core hub of the Bitcoin ecosystem. The East and the West have worked together to promote the development of this round of Bitcoin ecology. The Bitcoin ecosystem will give birth to the king of memes. The prosperity of the first layer will give rise to the opportunity of the second layer.

▌Uniswap founder: rogue attacks on cryptocurrencies will increase Biden's risk of losing the election

Hayden Adams, founder of Uniswap, posted on social media that authorities are risking losing the election by letting rogue regulators try to ban "internet money", not to mention that 40% of adults in the United States are already holders of such money, and regulators will eventually lose anyway.

Important Economic Dynamics

▌CME Fed Watch: The probability of the Fed keeping interest rates unchanged in June is 96.5%

On May 11, according to CME Fed Watch data, the probability of the Fed keeping interest rates unchanged in June is 96.5%, and the probability of a cumulative interest rate cut of 25 basis points is 3.5%.

▌Former Bloomberg analyst: Assets that go against the market trend are worth paying attention to

Golden Finance reported that former Bloomberg analyst Jamie Coutts CMT said on the X platform that the total market value excluding BTC and ETH has fallen by 11.8% in the past month. The Mkt structure in cryptocurrencies is similar to stocks. When the market falls, the dispersion decreases (correlation increases). Therefore, assets that go against the market trend are worth paying attention to.

Golden Encyclopedia

▌How difficult is it to mine Bitcoin alone?

Mining Bitcoin alone requires a miner to compete with all other miners around the world. Bitcoin's proof-of-work (PoW) consensus protocol makes mining a natural competition. Regardless of the power of the mining equipment, the chances of a solo miner beating the rest of the world's miners to obtain the block target hash value are almost zero.

Disclaimer: As a blockchain information platform, Golden Finance publishes articles for information reference only and is not intended as actual investment advice. Please establish a correct investment philosophy and be sure to raise your risk awareness.