BitMEX co-founder Arthur Hayes believes the ongoing period of price consolidation in the cryptocurrency market presents an excellent chance to accumulate crypto before the next bull market phase. In an interview with Cointelegraph, Hayes emphasized that individuals with fiat and spare cash should consider investing in crypto during this stable period, as he expects inflationary monetary policies to soon propel Bitcoin and other cryptocurrencies to new heights.

Hayes foresees major economies worldwide increasing money supply significantly in the next 18 to 24 months. He believes this trend will fuel the next bullish run in the cryptocurrency market, particularly Bitcoin. Furthermore, Hayes predicts that the upcoming U.S. presidential elections will serve as a bullish catalyst, as financial authorities may ease monetary policies to bolster President Joe Biden’s re-election chances.

Historically, periods of monetary expansion have led to crypto rallies. Hayes notes that governments can easily print money, borrow, and distribute it in various forms, boosting the crypto market.

Source

Ethereum (ETH) has made a remarkable rebound, surpassing the $3,200 mark over the weekend. The network experienced an extraordinary surge in growth, with 196.71K new Ethereum addresses being created on May 4, 2024. This is the largest single day of network growth seen since October 8, 2022.

The influx of new wallets is a positive indicator for the network, highlighting increased adoption and usage. This significant growth suggests a growing confidence in the Ethereum network, despite recent market volatility. As the number of non-empty wallets reaches 121.17 million, it emphasizes the expanding adoption of ETH among new users and investors.

With Ethereum’s network growth reaching a 19-month high, market sentiment remains positive. This sharp increase in new wallet addresses is being seen as a bullish sign, reflecting heightened interest and optimism in Ethereum’s future prospects. The latest data points to a strengthening network that is potentially laying the groundwork for further growth.

Santiment

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Kraken, a leading global cryptocurrency exchange, has unveiled its strategic move to enter the German market in partnership with DLT Finance, a regulated financial institute specializing in digital assets custody. The collaboration aims to introduce a suite of tailored crypto products to meet the diverse needs of German clients, marking a significant step in Kraken’s European expansion strategy.

Starting July 10, Kraken plans to roll out a range of crypto services nationwide, leveraging DLT Finance’s expertise and infrastructure. This move follows Kraken’s recent acquisition of a Virtual Asset Service Provider (VASP) registration from the Dutch Central Bank, signaling its commitment to expanding its footprint across Europe.

David Ripley, Kraken’s CEO, emphasized the importance of collaborating with industry leaders to drive global crypto adoption. With over 5% of Germans already invested in crypto assets, Kraken aims to offer innovative products supported by localized client service, tapping into the growing mainstream interest in cryptocurrencies across Europe. This development intensifies the competition among major crypto exchanges vying for dominance in the global market.

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