A Look at How May Got Started for the Crypto World

[ad_1]

The first week of this month was extraordinary in the case of some exclusive developments. One of the most important things seen during this week took into account the establishment of a new record by Bitcoin (BTC) in terms of transfers made in one day. On top of that, the crypto industry is once again pushing its boundaries with the acquisition of the latest licenses and regulatory investments. Exclusive funding rounds and token listings were also the focus this week.

Bitcoin Witnesses Exclusive Record in One-Day Transfer Process

Bitcoin ordinals played an important role in processing additional transfers within a day. As a result, on the 1st of this month, Bitcoin saw the highest number of transfers processed in a single day in the main cryptocurrency’s 14-year history. On that day, transfers processed daily reached the sum of approximately 568,300.

This figure is well above the former record high of 78,000 transfers seen in 2017. Of the cumulative transfers, more than 307,000 were related to ordinals. This made an exclusive high in 1 day. On top of that, it also represented an increase of up to sixteen percent from the old record set just the day before, according to data offered by the Dune dashboard.

BitOasis Obtains First MVP Broker-Dealer License from Dubai Regulator

BitOasis, a Middle East-based crypto exchange, has successfully secured the broker-dealer’s initial minimum viable product license from the Dubai regulatory agency. The crypto exchange is pioneering with great focus on the United Arab Emirates and the Middle East. The Dubai Virtual Asset Regulatory Authority was established in 2022 to administer and nurture the promising virtual asset industry within the jurisdiction.

The respective achievement is attested after BitOasis obtained the provisional approval in March 2022. As no entity has yet succeeded in obtaining the Full Market Product (FMP) phase, as mentioned on the VARA website, the achievement of BitOasis is always remarkable. With VARA and other progressive initiatives such as the BitOasis listing, Dubai is signaling that its jurisdiction is open for business and welcomes the future of finance.

OKX Ventures will be the last investor for the Cetus protocol

Well-known crypto exchange OKX Ventures said on May 2 that the company is investing in the Cetus protocol, which is a decentralized exchange. The investment aims to provide a resilient and adaptable liquidity network that would facilitate the trading of assets on the Sui and Aptos platforms.

Henry Du, the co-founder of Cetus, mentioned that the support from OKX Ventures will enable the platform to give wider access to a wide range of consumers existing in the Web3 space. Therefore, the respective initiative will potentially break the margin between the on-chain and off-chain sectors, he added.

Bitdeer and Bhutan’s DHI to raise $500m for mining operations

Nasdaq-listed mining network Bitdeer Technologies Group and standalone investment arm Druk Holdings and Investments (DHI) have formed a new collaboration. This initiative is launched to develop environmentally friendly and carbon-free mining operations for digital assets in Bhutan.

As stated by DHI and Bitdeer, the goal of the partnership is to raise up to $500 million. Subsequently, at the end of this month, collaborators will launch global investment fundraising campaigns. Bitdeers Chairman Jihan Wu affirmed that the partnership will play a vital role in stabilizing Bhutan’s internal economy.

Top crypto exchanges like OKX, Bybit and Binance List SUI Token and Network

Renowned crypto exchange platforms such as OKX, Poloniex, Bybit, and Binance have listed the SUI crypto token. All these crypto exchanges announced the list of tokens on the 3rd of this month. On OKX, 10,000,000,000 was the figure set for the supply of SUI tokens while the company mentioned that 528,273,717 tokens would be the circulating supply.

Poloniex, OKX and Bybit have announced offering trading with the SUI/USDT token pair. Nonetheless, Binance said it trades SUI/EUR, SUI/BTC, SUI/TRY, SUI/USDT, and SUI/TUST token pairs to provide variety to consumers. This diversity of trading options is focused on increasing the adoption of SUI tokens.

Pepe Coin witnessed a big increase in market capitalization, almost $1 billion

The meme-inspired cryptocurrency Pepe (PEPE) has seen a remarkable increase in its market capitalization which is approaching the $1 billion mark. On May 5, the token experienced a fifty percent increase in market capitalization in just 24 hours to $830 million. Moreover, the transaction volume of the token has also reached $752 million in the meantime.

The increased trading volume and market capitalization of Pepes may signify its potential to offer significant returns. Nevertheless, some concerns remain about market manipulation. Therefore, investors should be careful and do thorough research as meme tokens are highly volatile.

[ad_2]