What’s happening in the Crypto Market
- The rulers of Dubai have created a committee that is mandated with tracking the latest developments in the digital economy. The committee is also expected to bolster the rulers’ quest to make Dubai a “key city in the metaverse.” Dubai Rulers’ Vision The Dubai rulers, Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum the crown […]
- Following the Terra blockchain fallout and the great UST de-pegging event, the Terra network ecosystem is now a wasteland of almost worthless tokens and protocols. While both UST and LUNA were top ten crypto market cap contenders, Terra’s decentralized finance (defi) presence was second to Ethereum in terms of total value locked. Today, the remaining […]
- According to current metrics, the Ethereum blockchain has burned 2.35 million ether since the implementation of Ethereum Improvement Proposal (EIP) 1559. The $8.10 billion in value was burned over the course of nine months and during the last seven days, 18,110 ether worth $34.9 million was destroyed. 2.35 Million Ethereum Burned — Ethereum Dev Says […]
- SOL was trading lower to start the weekend, as prices slipped on Saturday. This comes as bears re-entered the market following a week of consolidation. ATOM was one of the biggest movers, falling by 10%. Cosmos (ATOM) After climbing by over 15% on Friday, ATOM was one of the biggest losers on Saturday, as prices […]
- President of the European Central Bank Christine Lagarde has insisted that unlike a digital euro, cryptocurrency has no underlying asset. It should be regulated to prevent people from losing their life savings by speculating on crypto assets, the top ECB official has suggested. Cryptocurrency Is ‘Worth Nothing,’ ECB Governor Claims The head of the eurozone’s […]
- Down 20% from its latest peak, the S&P 500 now meets the definition of bear market territory in a warning sign for risk assets everywhere.
- Recession fears mount as a 20% decline in the S&P 500 places stock in a bear market, increasing the chance that BTC and altcoins will make new lows.
- Declining demand for Tether and negative futures premiums for altcoins reflect a growing disinterest from crypto investors.
- Based on historical tendencies, $22,700 could now mark the next "generational bottom" for Bitcoin, new analysis says.
- An ascending triangle setup promises major price rebound in the Ethereum price in 2022.
What’s happening with Crypto Policy & Regulation
- Scams are shattering mainstream confidence in crypto, perhaps irreparably. A large-scale, coordinated education initiative can help ensure that they don’t.
- Spoiler: No, stablecoin issuers do not guarantee the legal right for users to claim fiat currency back.
- The Republican congressman is supporting Sen. Tommy Tuberville’s Senate bill and financial services companies that want to include crypto in their 401(k) product offerings.
- The United Kingdom's Economic and Finance Ministry announced in April that it would work to incorporate stablecoins into a regulatory framework on digital assets.
- Binance comes to the rescue of Terra projects, Chainalysis introduces new tools to track stolen crypto funds, Do Kwon's new proposal for a Terra hard fork and more in this week's DeFi newsletter.
- “If the law has clauses related to money laundering activities — Anti-Money Laundering activities — that’s very important for us," said Panama President Laurentino Cortizo.
- The quest continues for the perfect “stand in” for the U.S. dollar. But, UST’s crash suggests that algo stables may be “inherently fragile.”
What’s happening with the Top 10 Cryptocurrencies
- BTC and altcoins produced the occasional relief rally, but technical analysis suggests that the prevailing trend will remain bearish for some time to come.
- Ailing stock markets continue to impact crypto prices and technical analysis suggests BTC is at risk of falling below its recent $25,500 low.
- BTC and most altcoins are facing strong selling at the top of each rally, but the short-term downside could be limited since Bitcoin bulls keep buying each dip.