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Discover the excitement and rewards that await you at Xtreme.game with a 100% deposit bonus!Crypto Market UpdateTable of ContentsBitcoin and Major CryptocurrenciesBitcoin Defies Global Downturn, Targets $82KEther Faces Volatility Ahead of May ExpiryUniswap Faces SEC Scrutiny, Vows DefenseMarginFi CEO Resigns Amid Solana CongestionCrypto Exchange and Platform DevelopmentsBitfinex Securities Launches Tokenized Debt in El SalvadorPepe Coin Jumps 10% on Coinbase Futures ListingBitget Records Stellar Trading Volumes in Q1 2024Kraken Phases Out Monero in EU Due to Privacy Token BanGBTC ETF Experiences Net Outflows Amid Market RecoveryBlockchain Innovations and IntegrationsChainlink Introduces Transporter for Secure Cross-Chain TransfersPancakeSwap Integrates Orbs Protocols to Enhance TradingNEAR Protocol Enhances Ecosystem with AI IntegrationCircle Extends USDC Reach to zkSync NetworkVenture Funding and Financial RecoveryCommunity Labs Invests $35M in Arweave EcosystemVoyager Digital Secures $484M to Repay CreditorsMarket Movements and MilestonesBittensor Token Soars After Binance ListingBitcoin's Ordinals NFTs Generate $458M in FeesBitcoin Defies Global Downturn, Targets $82KDespite global market downturns and the ECB maintaining steady interest rates, Bitcoin has shown resilience, notably increasing by 1.5% to a trading price of above $70,000. This upward trend continued even as major stock indices fell. U.S. President's optimism for a U.S. rate cut before year-end sparked further recovery, pushing Bitcoin prices up. Market analysts remain bullish, setting Bitcoin's next price target at $82,000, fueled by expectations of an upcoming halving event that historically boosts prices. While U.S. CPI remains high, the market anticipates two Federal Reserve rate cuts in 2024, influencing Bitcoin and other risk assets. Bitcoin’s strong performance has overshadowed other major assets, with its RSI reaching the highest level since 2021, signaling potentially overbought conditions but also underscoring its dominant market position.Ether Faces Volatility Ahead of May ExpiryEther options for May expiry indicate anticipation of significant price swings, reflecting doubts about the approval of a spot ether ETF. Derivatives trader Gordon Grant notes a reversal in the valuation of May options after a recent ether spot price rally. Ether's 24-hour change is a modest -0.36%, trading at $3,521, while the GM 30 Index has risen by 0.19%. Uniswap Faces SEC Scrutiny, Vows DefenseUniswap's token UNI suffered significant price drops, approximately 20%, after receiving a Wells Notice from the SEC, indicating potential enforcement actions. The decentralized exchange (DEX) and its leadership vowed a strong legal defense, emphasizing the legal and innovative nature of their products. Industry leaders, including those from Coinbase and Haun Ventures, have publicly supported Uniswap, criticizing the SEC’s approach as "regulation by enforcement" and harmful to innovation.MarginFi CEO Resigns Amid Solana CongestionMarginFi's CEO Edgar Pavlovsky resigned amid internal conflicts and operational issues within the Solana-based decentralized lending platform, triggering massive withdrawals. The Solana network's congestion exacerbated the situation, affecting transactions and the protocol's operation. MarginFi faced a total of $214 million in withdrawals, with $100 million occurring on the day of Pavlovsky's resignation. This turmoil led to $155 million in net outflows, and the platform's total value locked plummeted from $738 million to $524 million. Competitors like Solend capitalized on MarginFi's instability by offering airdrops to attract disenchanted users. Issues with token distribution and public disagreements added to the strife, affecting partnerships and operations. Despite these challenges, MarginFi affirmed its operational stability and attempted to reconcile with partners like SolBlaze, which had accused MarginFi of bad faith in token handling.Bitfinex Securities Launches Tokenized Debt in El SalvadorBitfinex Securities introduces El Salvador's first tokenized debt to fund a new Hilton hotel, aiming to raise $6.25 million with a 10% coupon over 5 years, using the Liquid Network for issuance. The project includes an 80-room hotel complex with amenities. Meanwhile, over 5 million Salvadorans' personal info, linked to Chivo wallet, was leaked, including comprehensive personal details from a database initially thought to be vaccination data, raising security concerns regarding data handling and cryptocurrency wallet registration processes.Pepe Coin Jumps 10% on Coinbase Futures ListingPepe Coin surged nearly 10% after Coinbase International announced plans to list perpetual futures for it, hinting at a potential spot listing for the $3 billion market cap meme coin. Bitcoin's rise to $70,000 enhanced meme coins' profitability, outperforming large-cap altcoins. Santiment highlights speculative asset growth, with meme coins like DOGE, TRUMP, AIDOGE, and SPX seeing up to 70% gains. Large-cap altcoins lag, with Ether only up 6%. Analysts predict a major altcoin rally post-Bitcoin halving, traditionally a bullish event for the crypto market.Bitget Records Stellar Trading Volumes in Q1 2024Bitget's futures and spot trading volumes in Q1 2024 soared to $1.4 trillion and $160 billion, respectively, marking significant growth from Q1 2023. With a user base exceeding 25 million, the exchange listed 186 new tokens. Meanwhile, the EU watchdog ESMA warns that the crypto market is highly concentrated, with about 90% of transactions processed by just 10 exchanges. Binance dominated half of this market, though its share dropped to 40% by December 2023. The forthcoming MiCA regulation aims to mitigate risks by introducing a comprehensive crypto asset oversight framework, emphasizing the industry's concentrated nature and its potential systemic risks.Kraken Phases Out Monero in EU Due to Privacy Token BanKraken, in response to the EU ban on privacy tokens, including Monero (XMR), is winding down support for XMR in Ireland and Belgium. Trading and deposits will halt on May 10, with full delisting on June 10. Users' remaining XMR will be automatically converted to Bitcoin. The token's price remains stable at around $132.35. GBTC ETF Experiences Net Outflows Amid Market RecoveryGrayscale Bitcoin Trust ETF (GBTC) saw a record low of $17.5 million net outflows, helping end a two-day net outflow streak across the US spot bitcoin ETF segment, which then notched net inflows of $124 million. Despite GBTC’s cumulative net outflows since becoming an ETF on Jan. 11, reaching nearly $16 billion, the broader segment has seen $12.5 billion of net inflows over three months. On the other hand, VanEck CEO reported that spot Bitcoin ETFs have primarily attracted retail investors, accounting for 90% of inflows, with significant capital inflows but minimal traditional financial institutions' participation. Despite billions of dollars of inflows, the landscape remains nascent, with expectations of eventual significant institutional investments.Chainlink Introduces Transporter for Secure Cross-Chain TransfersChainlink has launched Transporter, a secure cross-chain transfer app for cryptocurrencies across various networks like Ethereum and Polygon. With its CCIP protocol, it aims to enhance security, user experience, and transparency in crypto bridging activities. Users can monitor transactions in real-time, ensuring peace of mind with minimal transaction fees. PancakeSwap Integrates Orbs Protocols to Enhance TradingPancakeSwap has integrated Orbs' dLIMIT and dTWAP protocols, introducing limit orders and divisible order functions. This enhances users' trading experience, promoting efficiency while maintaining decentralization. The DEX handles nearly $8 billion in weekly trading volume and expands its trading options across multiple EVM-based chains. The integration aligns with Orbs' focus on decentralized, permissionless, and composable solutions. NEAR Protocol Enhances Ecosystem with AI IntegrationNEAR Protocol is integrating AI into its ecosystem by hiring AI engineers within a 3-6 month roadmap. Co-founder Illia Polosukhin, an AI expert, aims to offer user-owned AI. They will utilize near.ai to surface AI data and prioritize open-source initiatives. NEAR's focus is on simplifying multichain usage through AI advancements for enhanced development efficiency. Circle Extends USDC Reach to zkSync NetworkCircle has introduced native USDC stablecoin on zkSync, expanding its accessibility to developers and users without the need for bridging. This move brings USDC support to a total of 16 blockchain networks. The advantages include stability, regulatory compliance, seamless integration, and its potential application in various financial operations, such as trading, borrowing, and lending. Community Labs Invests $35M in Arweave EcosystemCommunity Labs is launching AO Ventures, pledging $35M for the Arweave ecosystem. The 10-week program aims to support Web3 projects, offering access to funding, mentorship, and technical workshops. It emphasizes inclusivity by welcoming projects using the AO Computer. Arweave, storing vast data, tackles data impermanence through its unique Blockweave blockchain variant. Voyager Digital Secures $484M to Repay CreditorsVoyager Digital has raised $484 million to repay creditors, primarily from the FTX settlement, representing 25% of total claims. Amid bankruptcy, settlements with FTX, D&O Insurance, and Three Arrows Capital have been secured. Efforts include recovering assets post former CEO accusations, with ongoing efforts in litigations and asset liquidations for creditor compensation. Bittensor Token Soars After Binance ListingBittensor (TAO) surged to $747 post-Binance listing, near its $757 ATH. The decentralized machine learning blockchain protocol experienced over 400% increase in 24-hour trading volume ($363 million). Binance's listing elevated the token's visibility and could potentially drive the price towards $1,000, positioning TAO as a leader in the AI crypto market with a $4.5 billion market cap. Top Altcoin Gainers and LosersGainers:NEO NEO (+18.06%) Bittensor TAO (+12.12%) JasmyCoin JASMY (+8.06%) Losers: Uniswap UNI (-19.38%) Nervos Network CKB (-16.43%) Fantom FTM (-9.57%) NFT Market MapBitcoin's Ordinals NFTs Generate $458M in FeesBitcoin's Ordinals NFTs surpassed 65 million inscriptions before the imminent halving, generating $458 million in network fees. The milestone signals high demand for Bitcoin block space, prompting the rise of Bitcoin decentralized finance (BTCFi) and layer-2 solutions. Experts anticipate Bitcoin DeFi's growth to rival Ethereum, offering expanded functionality and potential innovation in the ecosystem. This article has been refined and enhanced by ChatGPT.