Crypto Bulletpoint #11 – May 10th

Terra Luna and the Lost Peg Armageddon, What a Monday!!!! the crypto market is completely on its knees after a 3 days of crypto blood, is the worse passed or still to come? Read the most important news happened in one of the most difficult days in Crypto History…


📉Market Movers 📈

  • LUNA trades at $28, UST at $0.80 as a dramatic turn of events pull the Terra Ecosystem to its knees
  • Polkadot’s most recent auction round came to a close, raising almost $13.8 million and introducing a new platform to the system with Polkadex as the winner.
  • BTC is hardly moving over the $31k line, a Lower low at this time may be catastrophic
  • 40% of Bitcoin Investors Are Now Sitting on Unrealized Losses

📰Today’s News📰

  • Australia will soon launch five bitcoin exchange-traded funds to choose from, with Cosmos and 21Shares funds launching this week and 3iQs right after
  • More than a third of AMC Theaters’ online transactions are processed using crypto or digital forms.
  • Binance has temporary suspended LUNA and UST withdrawals due to market volatility.
  • AAVE accounts shrink from 87k users to neither 2k
  • Bitcoin (BTC) drops to a 10-month low, causing over $1,000,000,000 in cryptocurrency to be liquidated in only 24 hours
  • Expectations for Coinbase earnings were shattered by the crypto crash and the related stock price
  • US Treasury Secretary Yellen takes notice of UST depegging and calls for stablecoin regulation by the end of the year
  • In its current Financial Stability Report, the Fed expresses concern regarding stablecoins
  • Hivemind and Algorand have announced the acquisition of Napster, a peer-to-peer audio file sharing service that was popular in the early 2000s

👍Adoption👍🏾

  • The Federal Reserve of the United States has stated that a rise in interest rates and the use of stablecoins could endanger the US economy
  • The Jamaica Digital Exchange or Jam-Dex, Jamaica’s central bank’s digital currency, is slated to be available to the public this summer

📢Opinions📢

  • MicroStrategy could pledge’some other collateral’ in addition to 115,109 BTC, according to Michael Saylor and BTC will never be sold in red
  • Emin Gün Sirer, the founder of Avalanche and current CEO of Ava Labs, has expressed hope for UST’s future, saying that after the dust settles, he is bullish on the stablecoin
  • Coinbase CEO has ‘never been more bullish’ even after $430M Q1 loss

👩‍💻Blockchain👨🏽‍💻

  • Polkadot’s most recent parachain auction round, the 16th, came to a close raising almost $13.8 million and introducing a new platform to the system with Polkadex as the winner.

🖼NFTs🖼

  • Ethereum NFT Prices Bounce Back After Crypto Crash

🗺Metaverse🗺

  • Metaverse lands price is also falling along with the whole crypto market

🎮CryptoGaming🕹

  • Nothing has happened yet… 🤖

⛏Mining⛏

  • Bitcoin Mining Hash Price Hits Multi-year Lows

🛠Tools & Links

Nothing has happened yet… 🤖

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