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Today is the day, the long-awaited launch of the next Ethereum killer SUI is taking place at 8:15 am EST (12:15 UTC). From a purely technical standpoint, SUI does a few things differently compared to Ethereum, and therefore the expectations are high. In addition to the bankrupt exchange FTX, the project has numerous notable backers, including Circle, Binance Labs, and Electric Capital.

The designated proof-of-stake (dPoS) blockchain has an entirely new architecture that is supposed to outshine even the high-speed blockchain Solana. Many of Suis developers previously worked on the Meta (Facebook)-launched project Diem, which was scrapped some time ago due to regulatory headwinds.

The developers behind Sui, Mysten Labs, are one of two spinoffs from Diem, the second being none other than Aptos, which celebrated its mainnet launch last October. The former Meta employees founded Mysten Labs back in 2021 to develop Sui.

One of the things that sets the Sui blockchain apart is its tremendous processing speed of data, which no other layer-1 blockchain can match. In testing, Sui already brought it to more than 300,000 transactions per second (tps). This far exceeds even Solana (65,000 TPS). Likewise, Sui has a big speed advantage in transaction confirmation time.

While Solana needs around 20 seconds, Suis is only 450 milliseconds. In terms of scalability, Mysten Labs says that the system design is designed to allow horizontal scalability, which is not capped.

In addition to Suis high throughput and low latency, the project also touts a third advantage: the ability to process arbitrary amounts of data on chain. To do this, SUI makes use of a storage fund that redistributes fees for past transactions to future validators.

In other words, users pay upfront fees for both computation and storage. When storage requirements on-chain are high, validators receive additional rewards to offset their costs. Conversely, when storage requirements are low.

These three benefits are meant to take the use cases of blockchain technology to the next level.

While IOUs were already trading on smaller exchanges ahead of the official launch of the blockchain at 8 am EST (2 pm CET), well-known crypto exchanges such as Binance, OKX, KuCoin, and ByBit have announced the listing of the new token as soon as liquidity requirements are met.

Binance, for example, said it expected to begin trading SUI/BTC, SUI/USDT, SUI/TUSD and SUI/BNB at 8:15 am EST.

SUIs token supply has a cap of 10 billion tokens. As stated by the Sui Foundation, a portion of the total supply is expected to be liquid when the mainnet launches today. The remaining tokens will be transferred or distributed as future reward grants for shares in the coming years.

In the Sui economy, the token has four purposes. It can be used to participate in the proof-of-stake mechanism. It is the asset required to pay gas fees to conduct transactions and other operations.

Furthermore, the token is an asset that supports the entire economy with its value. Ultimately, the token plays an important role in governance as it serves as the right to participate in voting on-chain.

Featured image from PixelPlex

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New Ethereum Killer SUI Launches Today, What You Need To Know - NewsBTC

The Federal Reserve decided to raise its benchmark interest rate by 25 basis points on Wednesday. But it was the U.S. central bank's statement on a possible path forward that had markets waiting with bated breath.

To cool an overheated economy and tame soaring prices, the Fed has now delivered a steady barrage of 10 consecutive interest rate hikes since March 2022. That brings bringing its federal funds rate to a range of 5% to 5.25%.

An increase of a quarter of a percent waswidely expected, according to the CME FedWatch tool, which earlier today showed investors gave the rate hike an 85% chance of happening.

Inflation has moderated somewhat since the middle of last year, Federal Reserve Chairman Jerome Powell said Wednesday during a press conference. Nonetheless, inflation pressures continue to run high, and the process of getting inflation back down to 2% has a long way to go.

While Bitcoin was slightly down prior to the Fed's move, it clawed back losses and settled around $28,634, according to CoinGecko. Ethereum reversed course as well, pushing higher on the back of the Feds statement to $1,886, a gain of 1.2% in the past day, according to CoinGecko.

So far this year, Bitcoin and Ethereum have notched gains of roughly 70% and 50%, respectively, in part on the notion that the Fed could put rate hikes on pause soon or even cut interest rates later in the year. That's because traders tend to avoid risky assets, like BTC and ETH, when they expect the U.S. central bank to continue its aggressive monetary policy in order to get inflation under control.

Over the same period, the Nasdaq Composite has risen around 17%.

For several months, Powell has said repeatedly that ongoing increases would be needed to send inflation back down to the Feds target of 2%. Inflation soared to 9.1% in June 2022, the highest it's been since 1981.

However, Powells tone began to shift in March after turmoil emerged in the U.S. banking sector that saw lenders toppled like Signature Bank and Silicon Valley Bank.

Instead of saying that ongoing [interest rate] increases will likely be needed, Powell said, some additional policy firming may be appropriate at the U.S. central banks previous Federal Open Markets Committee.

Now, the Fed is confronted with a potential debt ceiling crisis, where the U.S. risks defaulting on its debt for the first time in history. Treasury Secretary Janet Yellen warned that could happen as early as June 1 if Congress cant reach an agreement.

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Bitcoin, Ethereum Flat as Fed Issues 10th Consecutive Interest Rate Hike - Decrypt

The largest cryptocurrency exchange in the United States announced today the launch of the Coinbase International Exchange, expanding access to digital assets for institutional clients. The new venture follows regulatory approval from the Bermuda Monetary Authority (BMA), and the new exchange will initially offer Bitcoin and Ethereum perpetual futures.

The Coinbase International Exchange is another step on our plans to scale globallygoing broad and deep, lighting up the mapfirst announced in May of 2022, Emmanuel Goh, Head of Coinbase International Exchange, told Decrypt in an email.

Unlike traditional futures, where buyers and sellers are obligated to execute the deal on a set date regardless of market conditions, perpetual futures dont have an expiration period, meaning that traders can hold their positions indefinitely.

Our international expansion drive will focus on high-bar regulatory jurisdictions, a Coinbase spokesperson told Decrypt in March. We remain focused on offering our products in a safe, compliant way, with sound risk management at the core.

Coinbase said it is committed to the U.S., but observed that countries worldwide are increasingly moving forward with responsible, crypto-forward regulatory frameworks as they attempt to position themselves as crypto hubs.

We would like to see the U.S. take a similar approach instead of regulation by enforcement, which has led to a disappointing trend for crypto development in the U.S., Coinbase said. The Coinbase International Exchange is an expansion, bringing the safest, most trusted name in crypto to the global market.

Coinbase said trades on the Coinbase International Exchange will be settled in USD Coin (USDC), and that the new exchange will have several security features, including real-time 24/7 risk management, dynamic margin requirements, and rigorous compliance standards.

Institutional clients in eligible non-US jurisdictions can also access the platform directly through an API, Coinbase said, although retail customers will not initially have access.

As more and more markets are moving forward with regulatory frameworks to become crypto hubs, we believe the moment is right to launch this international exchange, Coinbase said.

Coinbase has been in a war of words with the U.S. Securities and Exchange Commission and its chair Gary Gensler since the agency charged ex-Coinbase product manager Ishan Wahi and his brother Nikhil with insider trading in July 2022and hinted in a court filing that nine digital assets on the exchange were unregistered securities.

In April, Coinbase asked a federal court to compel the SEC to respond to its request for clearer regulations. Last week, Coinbase CEO Brian Armstrong took to Twitter to rally crypto community support for a campaign demanding clearer industry regulationssharing that he minted a Stand with Crypto NFT from the Zora marketplace.

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Coinbase Launches International Exchange with Bitcoin and Ethereum Perpetual Futures - Decrypt

The TMS Network Presale has captured the attention of supporters of both Ethereum and Ripple. These two blockchain networks have been at the forefront of the industry for years, with Ethereum leading the way in smart contract capabilities and Ripple focusing on cross-border payments. Despite the success and long-term standing of Ethereum and Ripple, a new project is gaining the attention of the entire crypto market the TMS Network. But whats special about this new project? This piece will reveal why the attention of the coin market is focused on TMS Network.

Ethereum is a decentralized blockchain platform that enables developers to create smart contracts and decentralized applications (dApps). It was the first blockchain network to introduce smart contracts, which are self-executing contracts with the terms of the agreement between buyer and seller being directly written into code. This enables developers to create dApps that can automate many tasks, making them more efficient and cost-effective. Ethereums features made it the top choice for blockchain developers looking for a reliable platform to host their applications or cryptocurrencies. But Ethereum is currently one of the most expensive blockchains to use.

Ripple, on the other hand, is a blockchain network that is focused on cross-border payments. It offers a fast and low-cost way to send money across borders, making it an attractive option for businesses and individuals who need to make international payments. Ripples network uses its cryptocurrency, XRP, as a bridge currency to facilitate these transactions. Ripples unique selling point is that it can process crypto and fiat transactions. After Ripples case with the SEC, the project has grown from strength to strength.

Despite their different focuses, Ethereum and Ripples supporters are taking notice of the TMS Network Presale. TMS offers a unique combination of high throughput, low fees, sustainability, and scalability, making it a versatile and flexible blockchain solution.

One of the main benefits of TMS is its scalability, which is comparable to Ethereum. It also offers low transaction fees, a significant selling point for Ripple. Additionally, TMS is designed with sustainability, which sets it apart from other blockchains. The TMS team is committed to creating a network that is energy-efficient and environmentally friendly.

The TMS Network Presale has generated a lot of interest in the blockchain community, with Ethereum and Ripple supporters recognizing the potential of this new network. The presale was highly anticipated, with the token sale recording impressive numbers. This demonstrates the high demand for TMS and its potential to become a significant player in the blockchain market.

As the TMS Network develops, it will likely attract even more attention from Ethereum and Ripple supporters. Its unique combination of features makes it a versatile blockchain solution that can be used in a wide range of applications and use cases. As more investors move their investments into TMS, it will likely gain more attention and become a significant player in the blockchain market.

The TMS Network Presale has attracted the attention of Ethereum and Ripple supporters, who recognize the potential of this new blockchain network. With its high throughput, low fees, sustainability, and scalability, TMS promises to be a versatile and flexible blockchain solution for many applications. As more investors move their investments into TMS, it will likely become a major player in the blockchain market.

Presale:https://presale.tmsnetwork.io

Website: https://tmsnetwork.io

Telegram: https://t.me/TMSNetworkIO

Twitter: https://twitter.com/@tmsnetwork_io

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TMS Network (TMSN) Presale Attracts Attention Of Ethereum (ETH ... - Analytics Insight

Bitcoin (BTC) added 2.5% on Friday morning to bring the worlds largest cryptocurrency close to the US$29,100 mark against the greenback.

Bitcoins strong performance in the Asia trading hours was helped in part by Apple Inc's (NASDAQ:AAPL)better-than-expected earnings result, with revenues coming in at around US$95bn for the iPhone maker.

Apple shares have surged 2.5% in pre-market trades on Nasdaq.

Nasdaq-listed cryptocurrency exchange Coinbase Global Inc (NASDAQ:COIN) also posted decent results, managing to limit losses in the first quarter through cost-cutting measures and diversified revenue lines, sending shares over 9% higher in post-bell trades.

Apple and Coinbases solid market performance has likely stirred interest in other tech-adjacent equities and asset classes including bitcoin.

At a more macro level, analysts are noting concerns about trading volumes, with Edward Moya, senior market analyst at OANDA stating that bitcoin isnt seeing the same amount of flows as it did early during all the banking drama with Silicon Valley Bank.

Lower volumes may be contributing to bitcoins inability to break above 30k again, barring a brief stint in April.

Instead, the BTC/USDT pair appear anchored to the 28k to 29k range, and could remain that way barring a strong catalysing event.

Bitcoin (BTC) appears anchored below 30k for the time being Source: currency.com

Binances order book shows strong selling pressure at 30k, while open interest on the futures market shows a dead-even split between buy- and sell-side orders

Ethereum was0.9% higher this morning, just failing to break above US$1,900, which has been acting as the bears defensive positive position for the past two weeks.

Ethereums open interest is also evenly split between buyers and sellers.

Bitcoin and ether are both down around 1.5% over the past seven days.

One thing for certain is that interest in the cryptocurrency markets is heavily skewed toward bitcoin, ether and a handful of others.

Of the top 50 performing cryptocurrencies over the past 90 days, 40 have given investors negative returns.

Only bitcoin, ether, Ripple (XRP), Tron (TRX), and a handful of small-cap outliers remain in the green, with bitcoin adding 22% and ether adding 10%.

Ripple (XRP) was boosted by promising news emerging from its SEC ligitation Source: blockchaincenter.net

Cryptocurrency investors are likely engaging in a flight to quality while avoiding unstable and volatile altcoins without a proven track record of returns.

However, an easing of monetary policy from the major central banks could see an increasing appetite for riskier assets in the near to mid-term.

For the time being, global cryptocurrency market capitalisation currently stands at US$1.19tn after dipping 0.15% overnight, while total value locked in the decentralised finance (DeFi) space added 0.12% to edge above US$49bn overnight.

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Bitcoin and Ethereum: Apple and Coinbase help crypto higher - Proactive Investors UK