So.. are we back?

M6 Labs Alpha Bytes 🚨: 16th May

The crypto markets were lit today, with major coins pumping hard. Bitcoin (BTC), Solana (SOL), and NEAR Protocol (NEAR) led the charge, raking in the biggest gains. This rally is mostly thanks to the news that US inflation eased up compared to last month.

So...are we back?

BTC $66,213 (+3.86%), ETH $2,991(+1.55%), SOL $162.16 (+9.15%)

Project Updates 

Threads 

Crypto News 

  • Binance launches funding rate arbitrage bot 

  • Deutsche Bank joins Project Guardian to explore asset tokenization applications 

  • US inflation falls to 3.4%: RadarHits

  • Department of Justice indicts MEV bot operators for wire fraud and money laundering

  • Robinhood announces the launch of Solana staking in Europe 

  • Web3 social network Lens is migrating to zkSync and planning to scale 

  • Re raises $7 million in funding led by Electric Capital 

  • US brothers arrested for stealing $25m in crypto in just 12 seconds 

  • ETH-BTC ratio slides to lowest levels since April 2021 

  • India’s SEBI open to oversight of crypto trading, unlike the Reserve Bank 

  • Industry experts foresee massive growth for the crypto market 

  • Wallet recovery firms abuzz as locked out crypto investors panic amid Bitcoin boom 

  • Canada’s “crypto king” and associate arrested, charged with fraud in alleged $30 million Ponzi scheme 

  • Ethereum struggling to keep pace with crypto market rally 

  • FTX repayments could cause crypto buying pressure 

That's a wrap for today!

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