Crypto Bulletpoint #15 – May 16th

Another week in Crypto and the bankers are talking Bitcoin in El Salvador


📉Market Movers 📈

  • Bitcoin closed its 7th weekly red candle straight
  • The circulating quantity of Terra’s LUNA has increased by approximately 1.9 million percent in the previous seven days after losing 100% of its value
  • The Bitcoin Dominance Rate (BTCD) has broken out of a nearly yearlong declining resistance line after forming a bullish pattern, but will this be enough?
  • Despite the volatility, the number of addresses containing more than one Bitcoin has reached a new all-time high
  • MakerDAO recovers as DAI maintains its peg and investors seek stablecoin security.
  • Terra’s LUNA had reached zero during last week’s market slump as $1.2 billion worth of Bitcoin was liquidated wiping out some BTC holdings

📰Today’s News📰

  • The operator of a significant validator node on Terra is dissatisfied with how the chain’s demise transpired and expects that a new blockchain will be built to replace it.
  • Economic Daily, a Chinese state tabloid, condemns crypto and the LUNA crash while applauding the crypto ban.President Nayib Bukele of El Salvador stated on Twitter that 32 central banks and 12 financial authorities from 44 nations will meet on Monday, May 16 to discuss financial inclusion and El Salvador’s Bitcoin acceptance and benefits.
  • UK crypto trading platform Elwood recently received funding by Goldman Sachs and Barclays as the two banking giants dive further into institutional crypto orientated investments
  • The Luna Foundation Guard (LFG) has spoken out about the health of its crypto assets, stating that it will seek to recompense customers for losses incurred due to the failure of its algorithmic stablecoin, not LUNA.
  • The LUNA Foundation has revealed that it has sold over 80,000 Bitcoin reserves for UST
  • Currently 937 projects are being built on Cardano
  • Grayscale’s cryptocurrency exchange-traded fund (ETF) will be listed on the London Stock Exchange, as well as in Germany and Italy
  • A GoDaddy exploit saw attackers hack multiple DeFi protocols, which have just come back to regular functionality
  • Following the crash of TerraUSD, DEI, DEUS Finance’s algorithmic stablecoin, plummets below $0.60.
  • Justin Sun, the founder of Tron, has promised to set aside $10 million in USD to help the average UST investor hurt by the stablecoin’s depegging.
  • Do Kwon proposes forking Terra into a new chain without stablecoins with both new and old chains coexisting
  • Dozens of open positions on Binance and Binance US suggest that the company aims to strengthen its legal team

👍Adoption👍🏾

  • Financial regulators in South Korea are apparently conducting an emergency examination of digital assets after the LUNA crisis in order to expedite the implementation of the “Digital Asset Basic Act”
  • Fernando Medina, Portugal’s Finance Minister, has stated that the country would begin taxing bitcoin
  • B3, the Brazilian stock exchange, will begin trading bitcoin futures contracts within the next three to six months
  • Law firms, schools and many several other business niches are starting accepting BTC in Dubai

📢Opinions📢

  • Vitalik Buterin believes that any proposed repayment mechanism for the collapsed Terra LUNA project should prioritize small hodlers above whales
  • After reclaiming a crucial support level, analyst Justin Bennett via Twitter that Bitcoin has likely printed a temporary bottom.
  • Bitcoin will continue to be the leading currency in the digital asset market and will outrun its competition, according to equity research analyst and investment strategist Lyn Alden.
  • Bitcoin, according to the billionaire CEO of the FTX exchange, has no future as a payment method
  • Bitcoin is likely reaching a “deep value” range, according to cryptocurrency researcher Lyn Alden, as some parameters begin to imply a bottom.
  • Bitcoin on-chain transparency, according to crypto influencer Anthony Pompliano, will be the next key selling factor for investors.

👩‍💻Blockchain👨🏽‍💻

  • Following the collapse of Terra’s ecosystem, the Polygon, Juno, and Fantom blockchains are attempting to attract Terra-based applications

🖼NFTs🖼

  • Nothing has happened yet… 🤖

🗺Metaverse🗺

  • Nothing has happened yet… 🤖

🎮CryptoGaming🕹

  • Square Enix announced in its Q1 results report that as part of its medium-term business strategy in 2022, it will include NFTs into more game products

⛏Mining⛏

  • Cryptocurrency lending platform Celsius Network plans to list its Bitcoin mining subsidiary on the stock exchange.

🛠Tools & Links

Nothing has happened yet… 🤖

  • Bitcoin
  • Ethereum
  • Tether
  • Cardano
  • Xrp
  • Polkadot
  • Binance coin
  • Dogecoin
Scan to Donate Bitcoin to 1AgYmxBzPC5Wfe7ossiD5p2vNRxSEPAvAU

Buy us a coffee! Donate Bitcoin to this address

Scan the QR code or copy the address below into your wallet to send some Bitcoin

Scan to Donate Ethereum to 0xcb463e61ef9dc1296f3848dd6feb6e85bad8c6c4

Buy us a coffee! Donate Ethereum to this address

Scan the QR code or copy the address below into your wallet to send some Ethereum

Scan to Donate Tether to 0xcb463e61ef9dc1296f3848dd6feb6e85bad8c6c4

Buy us a coffee! Donate Tether to this address

Scan the QR code or copy the address below into your wallet to send some Tether

Scan to Donate Cardano to DdzFFzCqrhsk7rWSaM5rsCg3Gz5Acr4SVteHizDiqmGw1nbNSuPhcyWt8Sd41zZaD2h6Kq8t2hhpSZpCE8pmeyAkrPiwgGu8ToeFtPbk

Buy us a coffee! Donate Cardano to this address

Scan the QR code or copy the address below into your wallet to send some Cardano

Scan to Donate Xrp to rEb8TK3gBgk5auZkwc6sHnwrGVJH8DuaLh

Buy us a coffee! Donate Xrp to this address

Scan the QR code or copy the address below into your wallet to send some Xrp

Tag/Note:- 478557515
Scan to Donate Polkadot to 15ksKScY2X2fAw4sL3sVs2unR7KNo6z239ky1sHpepwgTaJp

Buy us a coffee! Donate Polkadot to this address

Scan the QR code or copy the address below into your wallet to send some Polkadot

Scan to Donate Binance coin to 0xcb463e61ef9dc1296f3848dd6feb6e85bad8c6c4

Buy us a coffee! Donate Binance coin to this address

Scan the QR code or copy the address below into your wallet to send some Binance coin

Scan to Donate Dogecoin to DBJHwE8YvW9Kho8PhXLY2dEfEhqa5nYtB9

Buy us a coffee! Donate Dogecoin to this address

Scan the QR code or copy the address below into your wallet to send some Dogecoin