Crypto Bulletpoint #10 – May 9th 2022

📉Market Movers 📈

Almost US$250 billion has been wiped from the cryptocurrency market since last week, Bitcoin and other crypto are touching lowest levels since the first weeks of the year.
BTC Fear and Greed Index is now at 11, Extreme Fear
On the early hours of Monday Bitcoin is fighting to keep the $34k line while the whole market is full of uncertainty, if correlation is a thing the only hope is a positive trading day
A lot of ADA news during the weekend and a lot of developments revealed to come shortly including a promising DEX and a Stablecoin
LINK Dipped below the $10 line for the first time in 18 months
For the first time since 2014, Bitcoin (BTC) has formed a sixth consecutive bearish weekly candlestick
As the crypto market worsens, the Shiba Inu falls to a seven-month low.
BTC touched the $32k region

The Luna Foundation Guard (LFG) said on Monday that it will lend hundreds of millions of dollars in bitcoin and the stablecoin UST to protect the latter’s peg during a period of market turbulence
According to Glassnode, the Bitcoin market appears to be reverting its gains since January, as whales may be fleeing and selling on centralized exchanges
Binance TR, the Turkish branch of cryptocurrency exchange Binance, has issued a warning to investors in the region about an ongoing scam involving bogus Binance-branded billboards and hoardings.
Once again liquidation numbers are a carnage as in the last 24 hours more than $260 million was liquidated to over 69,000 traders
On Tuesday cryptocurrency exchange KuCoin revealed that it had raised $150 million in a fundraising round led by Jump Crypto

NBC News Reported that Over 100k cubans are now using and investing in Cryptocurrencies
In Xiamen and Guangzhou, China, digital yuan can now be used on buses, trains, and public transit cards
Japanese used automobile exporting company SBI Motor has announced that XRP and Bitcoin will soon be accepted as payment methods
At the upcoming GST Council, Indian officials are anticipated to go heavy on crypto, imposing a 28 percent goods and services tax on cryptocurrencies
The Argentinian central bank has announced a prohibition on the use of digital assets in the banking system.
In Louisville, Kentucky, a home was acquired for $65,000 in bitcoin, making it the first real estate transaction in the city’s history.

Kevin Sekniqi, COO of Avalanche AVAX is skeptical that Bitcoin will be able to maintain its position as the most popular cryptocurrency in the next 12-20 years given its current level of adoption and innovation
Charles Hoskinson thinks that we are in bear market and there is nothing to do to make ADA price higher

The NEAR Foundation is supporting Sankore, a Kenyan blockchain community that aims to educate and train blockchain engineers and analysts to help local enterprises expand.
As more developers join the Cardano blockchain it keeps adding over 70 smart contracts per week

Avalanche has unveiled a $290 million incentive plan to encourage metaverse development.

The Department of Justice (DOJ) has accused Luiz Capuci Jr., the CEO and co-founder of crypto mining and investment platform Mining Capital Coin (MCC), with “supposedly orchestrating a $62 million global investment fraud conspiracy.”
ETH mining has passed BTC mining by $224M in April
According to TradingView’s “Bitcoin Production Cost” indicator, Bitcoin has officially become more profitable to buy than mine for cryptocurrency miners as the cryptocurrency market has tumbled