Crypto Bulletpoint #12 – May 11th

The Day after the Crypto Armageddon, The Luna and UST road to ruin


📉Market Movers 📈

  • BTC seems to be weak during the first trading hours of the day and is failing to regain the $32k line
  • It seems like UST will need some more time to get back to $1 as it retraced again during the past 24hrs to the $0.73-$0.82 Region
  • Terra UST has dropped 94 percent in the last five weeks as the LUNA Foundation liquidates all of its $BTC holdings
  • LUNA is heading to $0.5 as UST is struggling to survive
  • Due to the crash of UST Maker’s token MKR rose 30% as its stablecoin DAI became the fourth largest stablecoin by market cap
  • Fears cause Avalanche to decrease 30% as investors fear that Terra’s LFG will drop AVAX next
  • 8.3% CPI was announced , 8.1% was expected… $BTC dropped touching $28.959 before bounce back
  • Luna seems to bounce at $0.9
  • Stablecoins dominance reached ATH
  • $27660 its the new BTC Low
  • ApeCoin, Avalanche, Solana, Shiba Inu crashed more than 20% in the continuation of the Crypto nosedive

📰Today’s News📰

  • Sweatcoin recently announced a cooperation with the NEAR Foundation to establish the SWEAT token and 4 million new wallets have been created since then
  • Binance apparently cultivated links with Russian officials, according to a Reuters report
  • The VeChain Foundation has released its financial report for Q1 2022, revealing that the project accumulated a $1.2 billion in the vault but only $4.1 million was spent throughout the quarter
  • 33% of ETH investors are at lost
  • To soothe investors and traders, Do Kwon announced the introduction of a strategy that was supposed to save the market, but 15 hours have passed and no real plan has been released.
  • Shiba Inu introduced Shibarium, it’s main financial components which is currently developing stablecoin SHI and Shibarium Financial Ecosystem SHIBFE that will be launched shortly
  • Following the LUNA Crash, TRON DAO deploys $2 billion to protect TRX
  • Coinbase blames India Central Bank for exit from the country
  • As the crypto market bleeds, in-profit Bitcoin addresses have dropped to a 2-year low
  • In Germany a new law states that Bitcoin and Ethereum are now tax-free if the asset is hold for more Ethan a year
  • Gemini has rejected claims that it lent BlackRock and Citadel $100,000 BTC, valued at the time around $3B
  • Australia’s first Bitcoin and Ethereum spot ETFs is now live

👍Adoption👍🏾

  • With the addition of $5 million in Bitcoin to its balance sheet, Townsquare Media, a New York-based digital marketing and radio station company, has become the latest enterprise to back the original cryptocurrency
  • Continental Diamond in Minnesota has become the state’s first jewelry store to accept Bitcoin
  • Nubank, a Brazilian fintech business, has announced a partnership with Paxos, a cryptocurrency exchange

📢Opinions📢

  • Nothing has happened yet… 🤖

👩‍💻Blockchain👨🏽‍💻

  • Nothing has happened yet… 🤖

🖼NFTs🖼

  • After a 50% price drop owing to claims of rug pulling against the creator, Azuki non-fungible token (NFT) sales increased by more than 800% in the last 24 hours
  • According to Zuckerberg, Meta will first test non-fungible tokens (NFTs) on Instagram and then Facebook before expanding to other platforms

🗺Metaverse🗺

  • Nothing has happened yet… 🤖

🎮CryptoGaming🕹

  • Nothing has happened yet… 🤖

⛏Mining⛏

  • On Wednesday, Bitcoin mining difficulty reached a new all-time high, up 4.9 percent from the last adjustment last month

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