Planet Daily | Ethereum network gas fee drops to 2gwei; Solana chain DEX transaction volume yesterday surpassed the sum

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Planet Daily | Ethereum network gas fee drops to 2gwei; Solana chain DEX transaction volume yesterday surpassed the sum

Headlines

Ethereum network gas fee drops to 2 gwei

Etherscan data shows that the Ethereum network gas fee has dropped to as low as 2 gwei today and is currently reported at 4 gwei.

Solana鈥檚 on-chain DEX transaction volume yesterday exceeded the sum of five chains including Ethereum, BSC, and Arbitrum

DefiLlama data shows that the transaction volume of Solanas on-chain DEX on May 11 increased by more than three times from the previous day to US$2.995 billion, ranking first; exceeding the sum of the transaction volumes of five on-chain DEXs including Ethereum, BSC, Arbitrum, Base, and Optimism.

CME Fed Watch: The probability of the Fed keeping interest rates unchanged in June is 96.5%

According to CMEs Fed Watch: The probability that the Federal Reserve will keep interest rates unchanged in June is 96.5%, and the probability of a 25 basis point rate cut is 3.5%.
The probability that the Federal Reserve will keep interest rates unchanged by August is 74.6%, the probability of a cumulative interest rate cut of 25 basis points is 24.6%, and the probability of a cumulative interest rate cut of 50 basis points is 0.8%.

Solana鈥檚 on-chain DEX鈥檚 weekly trading volume exceeded US$9.5 billion, ranking first, with a 7-day increase of 26.26%

DeFiLlama data shows that the transaction volume of Solanas on-chain DEX in the past 7 days was US$9.533 billion, ranking first, with a 7-day increase of 26.26%.
The transaction volume of DEX on the Ethereum chain in the past 7 days was US$9.325 billion, a 7-day decrease of 28.12%.
The transaction volume of BSC on-chain DEX in the past 7 days was US$4.329 billion, with a 7-day increase of 6.67%.
The transaction volume of Arbitrum on-chain DEX in the past 7 days was US$2.838 billion, a 7-day decrease of 27.19%.
The transaction volume of Base chain DEX in the past 7 days was US$1.608 billion, a 7-day decrease of 33.55%.

Industry News

Bitcoin volatility is lower than Tesla and Nvidia stocks, and the future price may exceed $100,000

As of May 11, Bitcoins annual volatility was approximately 44.88%, which has fallen below well-known technology stocks such as Tesla, Meta, and Nvidia (whose annual volatility exceeds 50%), marking its gradual transformation into a more mature and stable asset class.
According to a report by Fidelity Investments, Bitcoins volatility has been lower than 33 of the approximately 500 companies in the SP 500 index, showing its stability.
In addition, the decline in Bitcoins volatility indicates that investor sentiment is shifting in a positive direction, which may trigger a sharp rise in prices. With the approval of multiple Bitcoin spot ETF products in the United States, it is expected that major institutional investors will join in the coming months. Robert Mitchnick, head of digital assets at BlackRock, pointed out that sovereign wealth funds, pension funds, and endowment funds may see Bitcoin spot ETF transactions in the coming months.
Institutional investors typically have strict risk management regulations, and low-volatility asset classes are more consistent with their investment strategies.
Independent market analyst Scott Melker said: It is important to remember that this will take time; these companies are just beginning their due diligence… A large influx of institutional funds will drive Bitcoin prices to all-time highs. Melker expects that due to the expected ETF inflows, Bitcoin prices are expected to rise to the $100,000 to $150,000 range in the future. (Cointelegraph)

Philippine central bank approves peso-pegged stablecoin PHPC

The Philippines central bank has approved the Philippine peso-pegged stablecoin PHPC, aimed at facilitating cost-effective remittances.
PHPC is backed by cash and equivalents from Philippine banks and will initially be launched on the Coins.ph platform, with plans to expand to other platforms. PHPC will be a peso-backed stablecoin for retail use, offering real-time transactions 24/7. (Bitcoin.com)

Project News

LayerZero co-founder: At least 30,000 people have exposed themselves as witches

LayerZero co-founder and CEO Bryan Pellegrino responded to a community user in the official Telegram channel about how many people have admitted to being witches. He replied: Last time I checked, there were 30,000 people. It should be more now.

BounceBit mainnet will be launched tomorrow

BounceBit posted on social media that the mainnet will be launched tomorrow.
According to previous news, the BounceBit points snapshot has been completed and the settlement phase will be carried out on the BounceBit mainnet.

Character*Voice

Former PayPal President: All Companies Will Eventually Use Bitcoin Lightning Network to Settle Transactions

David Marcus, former president of PayPal and current CEO of Lightspark, said that every company in the world will eventually use the Bitcoin Lightning Network to settle transactions. (Bitcoin Magazine)

Survey: Some people see Nvidia and other technology stocks as inflation hedging tools comparable to gold

According to the latest Bloomberg Markets Live Pulse survey, some respondents said that the largest U.S. technology stocks are not only a bet on innovative industries, but also a possible hedge against inflation.
Gold, a safe-haven asset for decades, is still seen as the best protection against rising prices, according to 46% of respondents, but nearly a third said tech giants were their top choice.
The reaction highlights the dominant role that companies like Nvidia, Amazon and Meta play in U.S. financial markets as they expand their influence over major sectors of the U.S. economy. That allows them to generate steady profits, sparking rallies and convincing investors that they will continue to be sources of steady earnings. (Bloomberg)

Investment and Financing

AI-integrated DeFi platform 0x Gen completes strategic financing

Multi-chain staking platform StakedGain announced the completion of a $500,000 seed round of financing, but the investor information has not yet been disclosed.
StakeGain currently supports more than 10 blockchains, including EVM-compatible chains and Layer 2 solutions, to help users achieve cross-chain DeFi staking and improve liquidity efficiency. (Accesswire)

This article is sourced from the internet: Planet Daily | Ethereum network gas fee drops to 2gwei; Solana chain DEX transaction volume yesterday surpassed the sum of Ethereum, BSC, Arbitrum and other five chains (May 13)

Related: The Biggest Crypto Predictions for April 2024

In Brief Bitcoin price is expected to mark a new all-time high with the halving around the corner. Solana price could make a run to $250 given the rising institutional interest and performance of its DEX Jupiter. Fantom is projected to dive by 20% in the coming month, owing to the first bearish signal in two months. April is expected to be a big one for the crypto market as a major event in the Bitcoin (BTC) halving is scheduled. This will also have an impact on other assets, such as Solana (SOL) and Fantom (FTM). BeInCrypto looks at the ongoing market movements and where you can expect these assets to land. Bitcoin Will Likely Climb to $77,000 Bitcoin price marked a fresh all-time high of $73,750 earlier this month,…

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