Newsletter 73

3Verse Global
6 min readMay 10, 2024


10th May 2024


Seven-figure loss for trader as a result of 0L Network hard fork
“Theft is forking out wallets without community input,” the trader, who represents 0l Network’s marketing team, asserts. The anonymous trader said that before to joining the system to help with marketing, he had bought 147 million Libra tokens in February 2023, for a total estimated value of $1.47 million. According to CoinGecko data, Libra’s value has decreased by more than 58% since May 3 and is currently trading above $0.001 as of 12:35 PM UTC.

Three things to consider before the next Bitcoin boom starts Although the market is down, the bull run is still ongoing. Some objects will run a little more than others when it starts to go upward again. Investing in household names like Bitcoin and Ethereum is a common first step for novices. Generally speaking, you can buy Bitcoin and hold onto it for at least half a year before seeing if its value has increased enough to sell. But buying Bitcoin won’t make you a fortune if you only have a few thousand dollars to invest. The growth potential in the near to mid-term is two to three times the existing value.

The SEC is reviewing the NYSE American stock listing of Exodus, a provider of cryptocurrency wallets.
Exodus reported that its planned uplisting to NYSE American on Thursday morning has been postponed.

According to an online survey by blockchain giant Digital Currency Group, over 20% of voters in a number of swing states believe that cryptocurrencies will play a significant role in the next US elections. According to the poll, more and more politicians on both sides of the debate are prepared to support or oppose cryptocurrencies, which is the most recent indication that the topic is turning into an electoral one.

A 3% increase in Ether’s price would wipe out $345 million in short positions as traders rush to short the cryptocurrency when Grayscale withdraws its Ether futures ETF proposal. As the next deadline of May 23 draws near, commentators are growing less certain that the SEC would approve a spot Ether ETF, despite their early optimism this year.


Total Crypto Market Cap : $2.65T

Bitcoin Market Cap : $ 1.32T

Ethereum Market Cap : $ 421.48B

ETH/BTC Ratio : 0.05

Ethereum Gas Price : 5 gwei

DeFi TVL : $169.27b

Fear and Greed Index : 55 (Extreme Greed)

Federal Reserve Balance Sheet : $7.36 T


Bitcoin price holds at $62K as investors experience “boredom” following the halving.
Though its price behavior on short timeframes is uninspiring, Bitcoin might be readying itself for a trend continuation. At almost $62,300 for the daily close, there was a growing chance that BTC/USD might lose more of its recent gains.

Cryptocurrency Markets Under Pressure as $11 billion in Bitcoin Distribution and $2 billion worth of Altcoin Tokens Unlock
Late on Wednesday, bitcoin dropped 2.5% to $61,500, while both solana and bitcoin cash saw increases of almost 7%.

Bitcoin Recovery Is Expecting $100K from Crypto Options Traders
There are a lot more active bitcoin call contracts than puts, which suggests that the market is optimistic. Since Federal Reserve Chairman Jerome Powell ruled out additional tightening or rate hikes as the next policy move last Wednesday, the leading cryptocurrency by market value has increased by almost 12% to $63,470, according to CoinDesk statistics.

BTC, ETH, BNB, SOL, XRP, DOGE, TON, ADA, AVAX, and SHIB prices are analyzed. The boring range-bound movement of Bitcoin is probably not going to end for a few more days as bulls and bears compete to control the price of BTC.

The price of bitcoin will “maintain” at $265K when tedious consolidation concludes. Analysts predict that Bitcoin will rise to $265,000, but investors may need to wait longer. According to the figure, there has been a notable increase in Bitcoin’s hash rate to market value ratio in 2024, indicating a potential uptick in market activity and investor interest. The rise of mining activity in relation to market capitalization is evaluated by the hash rate to market cap ratio. Young Ju stated that this ratio may “potentially sustain” the price of Bitcoin at $265,000.


The global cryptocurrency market witnessed selling pressure for the second consecutive day. At 4 p.m., the IC15 Index was down 1,981 points to 78,274. All the coins in the Index were trading down except Tron, which was up 2.35%. Avalanche, Solana, Dogecoin, and Shiba Inu were the major losers in the 4–7% range.

Indonesia’s commodities regulator, the Commodity Futures Trading Regulatory Agency, formed a dedicated committee with government, regulators, and industry representatives to monitor the crypto industry’s operation and compliance. Likewise, the Hong Kong Monetary Authority (HKMA) also formed a working group to develop standards for its tokenization market, focusing on wholesale CBDC

South Korea’s Democratic Party will request the Financial Services Commission (FSC) to reconsider its stance on spot Bitcoin ETFs to fulfil its campaign promise. Colombia’s largest bank, Bancolombia, moves to the digital asset space with the launch of its crypto exchange and stablecoin after a decade of research and study by the bank

Telecom provider Vodafone plans to use SIM cards to bring blockchain technology to smartphones to convert smartphones into digital wallets and bring Web3 closer to mainstream users. The crypto venture capital funding landscape is witnessing a remarkable growth trajectory. For the second consecutive month, April attracted a $1 billion investment with 161 investment rounds. In the first quarter of 2024, the industry attracted $2.49 billion from 603 deals. This surge in funding is a testament to the growing interest and confidence in the crypto market. In another milestone, Bitcoin has processed over 1 billion transactions 15 years after its launch.

The IC15 Index was up 1,619 points to 81,611 at 4 p.m. All the coins in the Index were in green, with Solana, Avalanche, Chainlink, and Polygon being the major gainers in the 5–7% range.

Weekly Spotlight

For the second day in a row, there was selling pressure on the bitcoin market worldwide. The IC15 Index dropped 1,981 points to 78,274 at 4 p.m. With the exception of Tron, which was up 2.35%, every coin in the Index was trading down. Among the top losers in the 4–7% bracket were Avalanche, Solana, Dogecoin, and Shiba Inu.

The Commodity Futures Trading Regulatory Agency, Indonesia’s commodities regulator, established a special committee of government, regulators, and business representatives to oversee the functioning and adherence of the cryptocurrency sector. Similar to this, the Hong Kong Monetary Authority (HKMA) established a working group with a focus on wholesale CBDC to create guidelines for its tokenization market.

The Democratic Party of South Korea intends to carry on a campaign pledge by asking the Financial Services Commission (FSC) to reevaluate its position on spot Bitcoin ETFs. Following ten years of investigation and analysis, Bancolombia, the biggest bank in Colombia, enters the digital asset market with the introduction of its stablecoin and cryptocurrency exchange.

Vodafone, a telecom company, intends to deploy SIM cards to enable blockchain technology on cellphones, turning them into digital wallets and bringing Web3 closer to the general public. The venture capital investment landscape for cryptocurrency is expanding at an impressive rate. With 161 investment rounds, April brought in $1 billion in investment for the second straight month. 603 agreements in the first quarter of 2024 brought in $2.49 billion for the industry. The increased interest and confidence in the cryptocurrency sector is demonstrated by this increase in funding. 15 years after its debut, Bitcoin has completed over 1 billion transactions — an additional significant milestone.