Current situation:

1. Interest rates at their highest since 2006

2. Credit card debt set to cross $1 trillion for first time

3. Multiple regional banks on brink of collapse

4. Regulators believe is “system is strong”

5. One month away from US default

How can this end well?

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Binance publishes how they manage when there is surge in traffic:

Our capacity management is peak-driven and embedded in every service lifecycle stage, preventing overload with activities like measurement, setting up priority, alerting and capacity reports, etc. This ultimately is what makes Binance’s processes and needs unique compared to a typical capacity management situation.

The service benchmark obtained from load testing is the focal point of capacity management and planning. It accurately determines the infrastructure resource needed to support current and future business demands. This ultimately had to be performed in production with a unique, Binance-built solution that allowed us to meet our specific needs.

https://www.binance.com/en/blog/ecosystem/ensuring-reliability-and-scalability-at-binance-the-role-of-capacity-management-and-automatic-load-testing-4549014559756022085

Gemini and Coinbase now started offering Perps. Wow!

https://www.gemini.com/blog/gemini-foundation-a-non-us-derivatives-platform-is-now-live

https://www.theblock.co/post/229021/coinbase-launches-perps-exchange

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Binance Unleashes SUI Perpetual Contracts: Market Reels as SUI Price Plummets by 70%

https://www.cryptopolitan.com/binance-unleashes-sui-perpetual-contracts/

Did you short SUI?

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Due to the recent popularity of Ordinals Inscriptions and BRC-20 transactions, the network fee capture on the Bitcoin chain reached US$3.5 million on May 3, the highest since late May 2021, surpassing Uniswap (US$2.32 million) on the same day and second only to Ethereum ($17.23 million).

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Ever happened to you?

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KuCoin announced the latest Proof of Reserves. User assets include 19,495 BTC; 165,986 ETH; 1.26 billion USDT; 111 million USDC.

Read more here: https://www.kucoin.com/proof-of-reserves

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Watch: “Bitcoin benefits when the banking system is not so secure” -Bloomberg

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Related to the recent activity of Memecoins, Uniswap active users hit a high since May 2021. Ultrasound money data shows that the use of Uniswap-related contracts has burned more than 15,000 ETH in the past 7 days.

https://dune.com/rajs/Uniswap-Users

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Nearly a year after the collapse of Terra, volume on Korean exchanges has recovered from a two-year low hit in early January 2023.

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Gas fees on the Ethereum network are through the roof!

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🔥Found new distribution🔥

Galxe | GAL
Token Contract: 0x5faa9...78d9875
Transaction: 0x3668c...c51cb02
From: 0x783c3...cfaebdf to 124 addresses
Total amount: $9,355,289 (8.64% of Market Cap)

Current Price: $1.68
Market Cap: $108,317,999
24h Volume: $12,407,408

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Charles Hoskinson, founder of Cardano, co-founder of Ethereum:

"I'd rather be a crypto guy than a banker right now."

@Coach

Binance Will List FLOKI (FLOKI) and Pepe (PEPE) in the Innovation Zone

https://www.binance.com/en/support/announcement/f68a3bc6eb014ed9bacf1d6c71dc1134

🔥Found new distribution🔥

Mines of Dalarnia | DAR
Token Contract: 0x08113...c7862a3
Transaction: 0x57ec9...4d6a780
From: 0xaa3c1...91a8bf2 to 135 addresses
Total amount: $1,150,453 (2.17% of Market Cap)

Current Price: $0.1600
Market Cap: $52,915,341
24h Volume: $2,265,540

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Winner of the meme season is not $pepe, $mong, $bob, $turbo, etc.

Winner is Ethereum.

What's already a delationary token, the gas guzzlers are burning Ethereum like crazy.

Last week alone we saw 37k ETH being burnt.

Do you hold Ethereum?

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The stablecoin DEI issued by the DeFi protocol DEUS was hacked, and the BSC chain lost $1.3 m, the loss on Arbitrum exceeded $5m. DEUS stated that it has suspended relevant contracts and burned DEI with the help of white hats to prevent further damage. Previously, DEUS Finance had been attacked twice before, losing tokens worth $3 million and $13.4 million.

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“If I put $500 in $PEPE 3 weeks ago it’d be worth over $2M now.”

No.

If you put $500 in 3 weeks ago and watched it go to:

$5k $50k $100k $200k…

and did nothing

Then watched $200k go to $60k

and still did nothing

Then watched $60k go to $750k

and still did nothing

Then watched $750k go to $350k

and still did nothing

The watched $350k go to over $2M

and then for some reason decided to do something…

Then yes, $500 3 weeks ago would be worth over$2M now.

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What type of a trader are you?

🔥 Sell at a loss
❤️ Hold to Zero
🤯 Screw you!!

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The former head of the alliance chain of Tencent, China's largest Internet company, left the company to start a cryptocurrency wallet business called Punk Code, hoping to use Tencent's game experience to create an entertainment-oriented Web3 wallet.

https://m.36kr.com/p/2245763846877059

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