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According to South Korean media Point Daily, the presidential election on June 3 is approaching, and the ruling and opposition parties have reached a consensus on traditional investment related bills. Winning the votes of virtual asset investors will be crucial to winning the presidential election. The estimated number of virtual asset investors in South Korea is 16 million, accounting for about 36% of the total number of voters in the 22nd general election held on April 10 last year (approximately 44.25 million). Candidates from various political parties have put forward policies related to virtual assets. The Common Democratic Party has pledged to advance the Basic Law on Digital Assets, while the National Power Party has proposed seven major policies, including lifting restrictions on institutional investment and allowing ETF trading. Industry insiders say that due to investors' strong demand for policy relaxation, the voting orientation of virtual asset investors will have a significant impact on the election situation.

According to BlockBeats, on May 4th, Cointelegraph reported that the ETH/BTC exchange rate is approaching the critical level of 0.016- a level that triggered a subsequent 450% surge in ETH/BTC prices in September 2019. The technical structure of the current ETH/BTC exchange rate (approximately 0.019 BTC) is highly similar to that of 2019, with the Relative Strength Index (RSI) in oversold territory and the exchange rate consistently below the key moving average. Ethereum fell by 90% before 2019 due to the collapse of the ICO foam, while it is now down 80% from its peak in 2021. Chart analyst Jimie pointed out that ETH/BTC is attempting to break through the resistance of the "bearish parabola" formed since December 2021. If the breakthrough fails, the exchange rate may drop to 0.016 BTC (bottom of 2019), and if successful, it may initiate a new upward cycle. However, Adam Back, an early developer of Bitcoin, criticized that the Ethereum account system has fundamental design flaws, and the PoS transformation has led to a concentration of power towards large holders. He bluntly said, 'It's better to sell ETH and exchange for Bitcoin before zeroing out.'. This round of Ethereum's decline is mainly due to market doubts about Ethereum's shift towards Proof of Stake (PoS), the rise of competitive public chains, and the increasing dominance of Bitcoin as an institutional asset. In response to challenges, Vitalik Buterin, co-founder of Ethereum, recently proposed a new architecture protocol that aims to achieve Bitcoin level simplicity and maintainability within five years. Analysts believe that this proposal is a significant positive for ETH.

BlockBeats News: On Saturday, May 4th, residents of Boca Chica, Texas overwhelmingly voted to officially register SpaceX Starship Base as the autonomous city of STARBASE, with the majority of 283 eligible voters in the area being SpaceX employees. STARBASE "is a launch site for a collaborative project between SpaceX, the US Department of Defense, and NASA, with the goal of sending astronauts to the moon and even Mars. Musk retweeted the related tweet and said, 'STARBASE in Texas is now a real city.'.

Foresight News reported that according to Eleanor Terrett's monitoring, Senator Ruben Gallego and nine other senators issued a joint statement stating that they cannot support the updated version of the GENIUS bill released last week. The group pointed out multiple issues, including insufficient anti money laundering provisions, concerns about national security and financial system security. It is worth noting that four Democratic senators on the list, Gallego, Warner, Kim, and Blunt Rochester, supported the original version of the bill during the March banking committee review. The co sponsor of the bill, Angela Alssobrooks, did not sign the letter.

Binance BNB/USDT is currently trading at $600.05, with a 24-hour increase of 0.06%. Please pay attention to market fluctuations.