📊 Daily Crypto Market Update 📊
1. Market Overview
Global Market Cap: $3.39 trillion (previously $3.45 trillion) according to Coingecko
Key Movers: KEKIUS, HYPE, LEO, ENA, LTC, FTN
2. Trends in the Altcoin Market 📈
Most altcoins have taken a temporary break while meme coins still capture the majority's attention.
The venture capital wave (VC Meta) remains strong, with Pastirnak promoting multiple projects like PCULE and SUBY.
However, the Ethereum chain has started to gain momentum with the MORPHIS project, which could revive the 'AI Summer' — so keep an eye on this trend in the coming months.
3. Top News Headlines 📰
Regulations: Crypto companies in the UK have been asked to report every user and every transaction or face strict penalties
Partnerships / Integrations: Cooperation between NVIDIA, OpenAI, and the UAE to build one of the largest AI data centers in the world
Major Developments: Moody's downgrades the U.S. credit rating for the first time in history from AAA to AA1
4. Upcoming Events ⏩
Bitcoin Conference in Las Vegas: May 27-29
Distribution of $11.4 billion to FTX creditors begins: May 30
5. Summary ✍️
The market saw a slight decline before the weekend, but it still looks very strong with altcoins and memes continuing to attract attention.
The implications of the U.S. credit rating downgrade remain unclear (its effect will be seen when the stock market opens on Monday), but the crypto market seems indifferent.
In my opinion, it’s not significant. There’s no likelihood of the U.S. defaulting on its debts given the current economic situation. Remember, these are the same rating agencies that gave Lehman Brothers a AAA rating just two days before its bankruptcy, so I don’t place much weight on their decisions.
Regarding the negotiations between Russia and Ukraine, an agreement has been reached to exchange 1000 prisoners of war from each side, although they did not specify the execution date.
Otherwise, I continue to gradually buy strong coins at key support levels and will take advantage of any upcoming volatility.
Since it's the weekend, I expect a lot of activity.
