Milk Road has acquired Bitcoin Price! Milk Road is the #1 crypto newsletter that is free and will make you smarter about crypto! | | | | 📈 30 Second Cryptocurrency Price Summary | Current Bitcoin Price: $28,905 | Bitcoin price ventured into the $29,000s for the majority of the last 24 hours, following signs that the Federal Reserve would be easing on rate hikes. | Top-20 altcoins are have seen small gains across the board, as Ether rises 1%, BNB gains less than 1% and Avalanche leads the way with a 2% rise. | Top Stories for May 4, 2022 🔥 | | The US Securities and Exchange Commission (SEC) has been ordered by a US court to respond to Coinbase's complaint about how it applies securities laws to digital assets. | Coinbase argued that the SEC is providing insufficient regulatory guidance for US companies operating in the crypto sector. The SEC has been given a 10-day deadline to provide a legal basis for why it has not responded to Coinbase's 2022 petition asking for formal rule-making within the digital assets sector. | Coinbase has been attempting to launch a pre-emptive strike against the SEC, which said in March it expected to sue the exchange over allegations of offering unregistered securities products. | | Gold prices are close to record highs after signals that the US Federal Reserve may be finished with raising interest rates. | Following the latest rate hike of 0.25%, most-active futures for gold rose 0.5% to around $2,047 a troy ounce, and briefly hit $2,085.40 in early Asian trading. Lower interest rates tend to boost gold as they reduce the opportunity cost of owning a metal that pays no income. | | Average transaction fees on the Ethereum network have reached their highest level since May 2022 due to increased on-chain activity around memecoin trading, with fees jumping to around 87 gwei on May 2. | The rise in transaction costs is largely attributed to increased demand for trading Pepe the Frog-themed tokens on decentralized exchanges on Ethereum, which have attracted the highest level of users since 2021. | As a result, users are increasingly seeking alternatives, with Ethereum Virtual Machine (EVM)-compatible blockchains hitting all-time highs last week due to high transaction fees. | | Today on Milk Road: The Fed raises interest rates, Graphs of the day: 60K ETH burned in April, the impact of Shanghai and Balaji forfeits the million dollar bet. |
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