Global Impact on Crypto During This Week

If we decide to call the week with a specific name, it can be the week of central banks with no doubt. The influence of the central bank policies and the economic data will boost the fear and uncertainty while the red days keep going in the short term.

Both the Euro Zone and the U.S. data are crucial. For the market, the most important day is May 1 as the interest rate decision by the FED will be released. In addition to that, there are several important parameters regarding the current situation of the economies in the developed countries.

Inevitably, the markets started to react to that fear from the last weekend. Today, the market sentiment is cautious and fearful. The downtrend in the crypto assets continues while Gold and Silver are slowly losing value. Meanwhile, promisingly bullish news lost its value, too.

The number of countries that approved the spot Bitcoin ETFs has been increasing. It is hotly discussed in several other ones such as Australia. It is speculated that there is a growing demand on the spot Bitcoin ETFs and the policy makers are not too far from this idea. Australian Securities Exchange is said to approve them by the end of 2024.

In addition to the regulatory side, the long - waited Web3 Dubai Conference is taking place.. Such conferences are pretty crucial for the crypto projects to find new community members, holders, investors or partners by introducing themselves. Hive blockchain's nearly-instant and free transactions for DeFi, GameFi and SocialFi need to be addressed clearly.

Non - KYC projects may not be able to survive in the traditional service providers. Due to the lack of security and privacy aspects of several projects, the policies of Google PlayStore and App Store get harsher. Today the mobile application of Trust wallet was removed from Google PlayStore for security reasons as people say. Now, application is restored but this made people question the security of using mobile phones rather than laptops or computers.

The investors are fearful of almost everything. Most of the crypto investors do not even move their funds to buy more coins or take profit from the existing ones. We see the growth of the number of new dApps and other projects but noone is willing to move their funds at all. Eventually, we are experiencing very cheap Ethereum mainnet transactions. Under normal conditions, the density of Ethereum maiinet transactions was an indicator of healthy market conditions in crypto.

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