Welcome to your daily crypto news digest. Here's what's making waves in the blockchain world today.
The TON Foundation has officially announced that the Toncoin Bridge will cease operations on May 10, 2025. After this date, users will no longer be able to bridge Toncoin between the TON blockchain, Ethereum, or BNB Smart Chain. However, assets that have already been bridged before the closure will remain claimable.
While bridging out of TON will be discontinued, the TON Foundation has clarified that bridging into TON will continue to be available temporarily. The end date for this functionality is yet to be announced and will be communicated in the future.
This decision marks a significant shift in TON's cross-chain interoperability strategy, and users are advised to make necessary adjustments before the shutdown date.
KuCoin, one of the leading global cryptocurrency exchanges, has officially launched a fully licensed crypto trading platform in Thailand. This move positions KuCoin as one of the few international exchanges to receive approval from the Thai Securities and Exchange Commission (SEC).
This development demonstrates KuCoin's commitment to expanding its global footprint while maintaining compliance with local regulatory frameworks. It also enables Thai users to access a trusted platform for cryptocurrency trading, which supports both local and international assets.
The launch underscores the growing interest and adoption of cryptocurrency in Southeast Asia, a region that has been increasingly favorable for blockchain innovation and fintech growth.
Ethereum's market dominance has significantly declined, now standing at just 7.4%, a level not seen since 2020. This trend highlights the shifting dynamics within the cryptocurrency market, as Ethereum struggles to maintain its position amidst growing competition and market evolution.
In 2021, the value of 1 ETH was equivalent to 0.08 BTC, illustrating a strong comparative performance. However, as of now, 1 ETH is valued at only 0.018 BTC, marking a four-fold decrease in its value relative to Bitcoin. This stark decline reflects a combination of market factors, including Bitcoin's resilience and Ethereum's challenges in sustaining its growth trajectory.
Ethereum's reduced dominance and declining ETH-to-BTC ratio could signal shifting investor sentiment or increased competition from other blockchain platforms and Layer 2 solutions. The coming months will reveal whether Ethereum can regain its lost momentum or if these trends will persist.
Michael Saylor’s enterprise software company, MicroStrategy, has achieved a significant milestone as its Bitcoin portfolio surpassed $50 billion for the first time. This marks a new all-time high for the firm, which has been one of the most prominent institutional investors in Bitcoin.
MicroStrategy has consistently increased its Bitcoin holdings over the years, often citing its belief in Bitcoin as a superior store of value compared to traditional fiat currencies. The company’s strategic decision to convert a substantial portion of its cash reserves into Bitcoin has made it a key player in the cryptocurrency market.
This achievement reflects not only the company’s confidence in Bitcoin's long-term potential but also the broader market’s recent bullish sentiment. Bitcoin’s price rally has contributed significantly to MicroStrategy’s portfolio valuation, pushing it past the $50 billion mark.
This development is expected to further solidify MicroStrategy’s position as a leading advocate for institutional Bitcoin adoption.
MicroStrategy continues to set benchmarks in the crypto space, reaffirming the growing influence of institutional players in the Bitcoin market.
In a significant policy shift, the U.S. Federal Reserve has withdrawn its 2022–2023 guidance that required banks to seek prior approval before engaging in cryptocurrency or stablecoin-related activities. This decision aligns the Federal Reserve with the Federal Deposit Insurance Corporation (FDIC) and the Office of the Comptroller of the Currency (OCC), creating a unified regulatory stance.
The move is seen as part of a broader effort to promote financial innovation, a stance that harks back to initiatives championed during the Trump administration. By stepping back from restrictive oversight, the Federal Reserve aims to balance innovation with risk management in the rapidly evolving digital asset space.
This policy reversal is expected to have significant implications for how traditional financial institutions approach cryptocurrency and stablecoin integration.
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