While the cryptocurrency markets were flat, Chainlink (LINK) and Tezos (XTZ) became high-demand altcoins this week with the significant developments in their ecosystems.

The US annual inflation rate was 8.6 percent, the highest level in the last 40 years, and the May inflation rate was announced as 1 percent. After the announcement of inflation figures in the crypto money markets, a downward volatility occurred, while the total market value decreased to $ 1.81 trillion. During the day, the total value stood at an average of $1.21 trillion.

Police are getting new information as the LUNA investigations continue. As you know, after the collapse of LUNA and UST, investigations are being carried out against Terraform Labs in South Korea, where Terra's headquarters are located. As these investigations continue, the police are getting new information.

We have prepared a news summary that we have compiled among the prominent developments in the crypto money industry.

Panama has given its first approval for the bill regulating cryptocurrencies. Panama Congressman Gabriel Silva is the leading figure in the bill that will pave the way for the use of crypto assets as a means of payment.

Telegram, whose crypto project was vetoed by the SEC in the past years, now seems to be returning to its crypto activities.

US stocks were higher after the close on Thursday, as gains in the Technology, Oil & Gas and Consumer Services sectors led shares higher.

While the crypto markets have been on a recovery trend for the last 2 days, the losses at the beginning of the week have not been compensated yet. Bitcoin (BTC) continues to change hands below $40,000, while Ethereum (ETH) continues to find buyers below its psychological level of $3,000.

Many people who closely follow the case between Ripple and the SEC think that the case will end in Ripple's favor. However, Ripple CEO Brad Garlinghouse made statements about what could happen otherwise.

Following the debate between the CFTC and the SEC about which regulatory watchdog should be best suited to regulate cryptocurrencies, Ripple CEO and founder Brad Garlinghouse has given his opinion on the matter.

European stock markets fell heavily on Wednesday. Investors are weighing escalating geopolitical tensions, weakening global growth outlook and mixed quarterly corporate reports.

While there was an average of 5 percent decrease in the crypto money markets for the last 24 hours, the same recovery was seen in the US trading hours the previous day.

An exchange-traded product (ETP) containing gold and Bitcoin, which is a first in Europe, will be launched as of today. The product, which was launched for a long-term investment and inflation protection, is considered a first in the world by combining two popular investment tools such as Bitcoin and gold.

The Shiba Inu interest of the top 1000 crypto investors with the most Ethereum in their portfolio is on the rise again.

Argentina's Central Bank (BCRA) made its fourth rate hike this year as inflation rose above 55 percent. BCRA raised the benchmark rate by 250 basis points.

Ethereum developer and cryptocurrency expert Virgil Griffith was found guilty of helping North Korea evade US sanctions and was sentenced to more than five years in prison.

The dominance of Bitcoin, the largest cryptocurrency in the market, is declining. Will altcoin prices, which have lost an average of 70% from their peaks, enter the recovery process.

Ava Labs, the parent company of smart contract platform Avalanche, has found a new $350 million in funding. With this amount of funds raised, Ava Labs' market capitalization will increase to $5.25 billion.

As well as the comments that Bitcoin will exceed the level of 100 thousand dollars by the end of the year, important predictions continue to be made about the second largest cryptocurrency Ethereum. Arthur Hayes, the former CEO of the BitMEX exchange, joined those who expected a serious price movement, especially after the "2.0 update" or, as the project team said, "Merger". Hayes also targeted the end of the year for ETH and claimed that the price level of 10 thousand dollars will be exceeded. The former CEO also said, "MicroStrategy should buy Ethereum instead of Bitcoin."

The Nasdaq exchange, known for listing the stocks of tech companies, conducted a survey on the spot cryptocurrency ETF with 500 financial investors. 72% of participating advisors indicated that they would most likely invest client funds in the asset if a spot ETF were accepted in the US.