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Bitcoin trading during market hours in the United States hit an all-time high, accounting for 46% of this year's cumulative volume through April, according to Bloomberg. This data comes from a study conducted by Kaiko Research, a cryptocurrency research company. The study suggests that the increased share of trading could be associated with the launch of Bitcoin spot exchange-traded funds (ETFs) in January. Volume saw an increase towards the start and end of US trading hours.

Kaiko Research points out that ETFs calculate their net asset value each weekday at the close of U.S. exchanges, which improves price discovery and arbitrage trading. Thursday has been identified as the day with the highest share of trading during these hours, with almost 15% of the cumulative daily volume. Since their launch four months ago, ETFs have generated nearly $13 billion in net inflows, making them one of the most successful early product categories in the industry's history.

However, demand has slowed recently, with only $925 million net entering funds in May. The crypto market is currently focused on whether US regulators will approve or reject ETFs that invest directly in Ether, the second largest cryptocurrency. A decision from the Securities and Exchange Commission on at least one spot-Ether ETF application is expected by May 23.

While Bitcoin trading volume during U.S. trading hours has largely returned to 2022 levels, volume during Asian trading hours remains significantly lower. Bitcoin's performance during US market hours also indicates that the volatility of the cryptocurrency is less compared to previous hours. This demonstrates the impact that these ETFs have had, not only on Bitcoin's correlation with the S&P, but also on its potential decorrelation with other altcoins and other cryptos.

US Market Hours Dominates Bitcoin Trading, Hits All-Time High

According to Odaily, the IRIS Network community has launched a new proposal, Prop#88, suggesting the approval of binding ERC20 contracts with its native token, IRIS. If the proposal is approved by vote, IRIS and its ERC20 contracts could be traded transparently in a 1:1 ratio.

Furthermore, it was announced yesterday that IRISnet 3.0 had been launched on the X platform. This update is important because it marks a new phase in the development of the IRIS network. Details of new features and improvements in this version have not yet been disclosed.

The proposal and launch of IRISnet 3.0 are considered strategic measures of the IRIS network aimed at improving its platform and increasing its competitiveness in the market. However, the final decision on the proposal will be determined by the community through a voting process. The outcome of this vote could have significant implications for the future direction of the IRIS network.

IRIS Network Proposes New Initiative to Link ERC20 Contracts to Native Token

According to Odaily, New Form Capital, a venture capital firm, has launched a $100 million fundraising initiative. This fundraiser will primarily focus on crypto-related technologies that aim to reshape traditional finance, including trading markets and payment systems.

In addition to this, the fund will also invest in artificial intelligence startups related to cryptocurrency and blockchain. This move by New Form Capital demonstrates the growing interest and investment in the field of cryptocurrency and blockchain technology, particularly in their potential to revolutionize traditional financial systems.

The venture capital firm's decision to invest in artificial intelligence startups related to these technologies further highlights the belief in the transformative power of these digital innovations. However, details of the startups the fund will invest in have not yet been disclosed.

New Form Capital Launches $100M Fundraising Focused on Crypto-Related Technologies

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