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