Global #cryptocurrency

The Financial Conduct Authority (FCA) in the UK has taken a significant step towards aligning with other financial hubs regarding digital assets.

With U.S. financial markets on pause for Memorial Day, the crypto markets have had a relatively calm start to the week, except for one standout: Chainlink (LINK). As the 14th largest cryptocurrency by market cap, LINK has surged over 10% in the past day, now trading at $18.75, according to CoinGecko data.

Former US President Donald Trump has thrown his support behind cryptocurrencies, expressing enthusiasm for "all things related to this new and burgeoning industry."

A prominent figure in the cryptocurrency community suggests that the markets have yet to fully absorb the impact of Bitcoin's recent halving, which halved the rewards for BTC miners.

In recent weeks, the leading cryptocurrency has seen increased volatility, surging from approximately $61,000 on May 14 to surpass $71,000 by May 21. However, this upward momentum was interrupted by a corrective phase, causing the asset to dip below the $67,000 mark on May 24.

In a surprising development within the Bitcoin mining realm, a notable decrease in Bitcoin's mining difficulty has opened doors for more cost-effective miners to secure a greater share of the market.

The recent approval of Ethereum exchange-traded funds (ETFs) may lead to a shortage of available Ethereum on the market, potentially impacting the second-largest cryptocurrency by market capitalization.

Blockchain data indicates that Bitcoin whales, who are significant holders of the cryptocurrency, are increasingly inclined towards accumulating more coins, suggesting a renewed confidence in the bull market.

Coinbase utilized ongoing political developments in the U.S. Congress to strengthen its interlocutory appeal against the SEC. In a court filing dated May 24, Coinbase contended that the SEC attempted to "bypass" the Howey test, a legal standard used to identify securities. The crypto sector and the SEC have long disputed the application of this test to digital assets.

Recent developments in China indicate that cryptocurrencies are still being used despite the government's ban. Chinese police have conducted multiple raids, uncovering illicit transactions worth billions of dollars involving cryptocurrencies.

New data from HODL15Capital indicates a substantial increase in spot market Bitcoin (BTC) exchange-traded funds (ETFs), with ten consecutive days of inflows amounting to over $1.68 billion.

XRP, the native token of the XRP Ledger, might experience a surge from its current price level around $0.53 following significant developments in the cryptocurrency space.