Daily News | Altcoins Fall, Market Fluctuated; Ripple CEO Stated that "the US Government is Pursuing Tether"; Famous Traders Returning to Drive PEPE to a New High

Crpto Dail Digest: Ripple CEO stated that "the US government is pursuing Tether"; Famous trader returns, driving PEPE to a new high

First, let's examine the trading activit of Bitcoin ETFs. According to Farside Investor data, on Ma 13, among the major Bitcoin spot ETFs, the Fidelit Bitcoin spot ETF (FBTC) inflow was $38.6 million, and the Bitwise Bitcoin spot ETF (BITB) inflow was $20.3 million.

On Frida, Ma 10, Wells Fargo, the third largest bank in the United States, disclosed its exposure to Bitcoin ETFs in a document submitted to the Securities and Exchange Commission. Wells Fargo Bank holds ProShares Bitcoin Strateg ETF, Grascale Bitcoin Trust, and Bitcoin Depot stocks with a total value of $143,111.

Afterwards, the largest bank in the United States, JPMorgan Chase, also announced its shareholding situation. Surprisingl, despite JPMorgan Chase CEO Jamie Dimon's repeated public condemnation of crptocurrencies, the bank still holds approximatel $1.2 million in ETF stocks. This attracted widespread attention and discussion in the crpto communit.

Ripple CEO Brad Garlinghouse stated that the US government is clearl "pursuing" stablecoin issuer Tether, which could have unpredictable impacts on the crpto market. In the World Class program on Ma 10, he believed that the crpto market is 100% likel to see another Black Swan event similar to the FTX bankruptc and subsequent fraud exposure.

"I think Tether is a ver important part of the ecosstem," Galinghouse said. He added that he cannot predict the specific impact of potential regulator actions b the United States on Tether on the crpto ecosstem. B the wa, these comments were made at a time when Ripple was planning to launch its own stablecoin in 2024.

Tether Holdings is a parent compan with multiple subsidiaries established globall, responsible for issuing and managing stablecoins. According to market cap, Tether (USDT) is the world's largest stablecoin. The previous regulator authorities' special attention to Tether is traceable.

In October 2023, US Senator Cnthia Lummis and Representative French Hill urged the Department of Justice to carefull evaluate the extent to which Binance and Tether provided material support and resources to support terrorism in a letter. Tether responded to this letter, stating that it has been assisting law enforcement agencies at the time of inquir and is full committed to continuing to cooperate with global authorities.

In November 2022, Bloomberg reported that US prosecutor Damian Williams in New York took over an earlier investigation b the Department of Justice into Tether's alleged concealment of crpto related funds from banks used for cash transfers.

In addition, Tether was criticied for its lack of transparenc in supporting USDT's reserves and released quarterl third-part audit reports in recent ears. In October 2021, regulator authorities reported that Tether had distorted its reserve holdings to clients, resulting in Tether paing a fine of $41 million to the Commodit Futures Trading Commission.

After the famous GameStop stock trader Keith Gill returned to social media platform X under the name "Roaring Kitt," PEPE reached a historic high. PEPE surged 34% in the past 24 hours, reaching a record high of $0.00001119, and its market value jumped to $4.31 billion, becoming the 23rd largest crptocurrenc b market value.

Keith Gill's social media account has been dormant since June 2021. He was at the center of the 2021 meme fren, when stock prices of companies such as GameStop and AMC Entertainment soared b over 1,000% in a short period of time.

On Ma 12, the Roaring Kitt account posted a photo of a man holding a controller and sitting in a chair, indicating a high level of attention to PEPE. This trend sparked great interest and enthusiasm in the market for PEPE.

On Ma 13, PEPE's rebound momentum was strong, with prices rebounding from the upward trend line since mid April, breaking through ke resistance levels and further driving its market performance. This trend demonstrates the strong growth potential of PEPE in the market.

Market Trends: Altcoins generall fell, and the overall market was still in a volatile range

BTC rebounded to around $63,000 but Altcoins generall fell, and the overall market remains volatile. On the macroeconomic front, the US stock market was volatile. The former leader of the US retail investor movement, GME, surged several times.

Market Hotspots:

The prices of PEPE, FLOKI, MAGA, MOG, POPCAT, and MANKEI in the Meme concept rose. PEPE broke through $0.00001, reaching a historic high. After the sharp rise of GME in 2021, it drove Meme coins such as DOGE and FLOKI to rise doens of times. The funds for purchasing GME highl overlap with the funds for purchasing Meme coins.

The new Bouncebit token BB on Gate.io hit a high of $0.9 at opening, but has now fallen back to around $0.45. Bouncebit is a BTC re-staking protocol developed b the Auction team. After halving BTC, BTC ecosstem tokens generall performed poorl, with Merlin, Runstone, and others hitting new lows.

This week, a large number of tokens will be unlocked, with IMX unlocking nearl $60 million, STRK unlocking nearl $80 million, and ARB unlocking over $90 million. Before and after unlocking the huge amount of tokens, the market ma experience significant fluctuations.

The crpto market is currentl in a stage of volatile adjustment, and investors should remain cautious, especiall when dealing with highl volatile assets. Investors are advised to closel monitor market trends, especiall the performance of Meme coins. Meanwhile, users should strengthen risk management, adjust investment strategies in a timel manner, and make corresponding decisions based on market changes.

Macro: Investors await ke data release, global market performance remains stable

On Wall Street, Ma 13, the S&P 500 index closed slightl lower, ending three consecutive weeks of gains. Investors are taking a break before the release of ke inflation data and earnings reports for this week. The S&P 500 index fell 0.04%, the Dow Jones Industrial Average fell 0.15%, and the Nasdaq Composite Index rose 0.27%.

According to a surve b the Federal Reserve Bank of New York, Americans expect the inflation rate to rise from 3% in March to 3.3% in the next ear, while the expect the inflation rate to be 2.8% in three ears. Last week, the Nasdaq Composite Index and the S&P 500 Index rose for the third consecutive week, benefiting from strong earnings reports and signs of a cooling labor market, which raised expectations for the Federal Reserve to cut interest rates once or twice this ear.

However, investors appeared cautious on Monda as the waited for the April Consumer Price Index (CPI) data to be released on Wednesda. At the same time, the will also pa attention to the Producer Price Index, retail sales data, weekl unemploment claims, and revenue reports for large retailers.

Among the 11 major industr sectors in the S&P 500 index, onl two sectors rose on Monda. Apple (AAPL.O) was the largest index contributor of the da, with its stock price rising 1.8% due to reports of an agreement with OpenAI to use ChatGPT technolog on the iPhone. In addition, OpenAI announced the release of a new artificial intelligence model that can engage in realistic voice conversations and interact across text and images.

On Ma 14, Asian stock markets hovered near a 15-month high on Tuesda, with the US dollar strengthening ahead of the highl anticipated release of US inflation data, while Japanese bonds were squeeed b the central bank's slight withdrawal of bond purchase plans.

In earl trading, Hong Kong stocks rose slightl and reached their highest level since earl 2023, marking the fourth consecutive week of strong gains. The Hang Seng Index in Hong Kong has risen b 30% from its Januar low and surged nearl 20% within a month. Recent news and data include the rise of consumer prices for the third consecutive month, better than expected import data, record low credit growth and the issuance of trillion uan of special treasur bond, all of which are regarded as positive demand signals and growth support measures.

The Nikkei Index remained unchanged in Japan. The ield of Japan's benchmark 10-ear treasur bond rose 1 basis point to 0.95%, the highest ield since November, and the ield of five-ear treasur bond hit 0.555%, the highest level since 2011.

In the mone market, the investigation of tension and inflation expectations prevented the decline of the US dollar. The US dollar hit its highest level against the Japanese en since the beginning of this month, when traders believed that the Japanese authorities were intervening to bu the en.

The main focus of this week is the release of the US Real Consumer Price Index (CPI) data on Wednesda to understand whether some unexpected increases in the first quarter are temporar or sustained trends. It is expected that the core CPI will slow down from an annual rate of 3.8% in March to 3.6% in April.

Regarding commodities, oil and gold have also remained relativel stable, with Brent crude oil futures prices at $83.40 per barrel and spot gold prices at $2,339 per ounce.