Bitcoin continues to rebound and is already above $21k, on 4H we can talk about the end of the active correction phase, for a similar statement on 1D, growth up to $25k is needed 🤔
There is still almost a whole week for BTC to close above $22,500 where 200 WMA runs. Historically, this is the bottom level of bitcoin and I don’t want to turn it into resistance at all 😬
Altcoins continue to please, especially Celsius, which paid Compound $10 million and the market regarded this move as a hint of a future restoration of solvency 🤑
🔹 Top 3 in 24 hours:
Celsius - $1.54 (↑133.51%)
Compound - $42.20 (↑32.62%)
1inch Network - $0.7027 (↑22.39%)
The fall in the Ethereum exchange rate, along with the rest of the market, had a noticeable effect on ETH holders. According to IntoTheBlock analysts, with a cryptocurrency exchange rate of $1,100, only 36.7 percent of all addresses can sell coins in plus.
This was last seen in April 2020.
Breaking: Three Arrows Capital Dumps $33 Mln Staked Ethereum (stETH)
https://bit.ly/3MOfWB0
Celsius Network has 17,919 WBTC liquidations at $22,584 per BTC 👀
The next 4% decline in BTC will result in $450 million in liquidation.
UPD: liquidation price moved up by $20,727
Bitcoin broke the vicious cycle of red weeks and started Monday with a $31k gain 🤑
The situation for BTC is very similar to May 30, there is an upward price momentum on the lower timeframes 1H and 4H, but on the daily chart the spring is still compressed and what the direction of the shot will be is not completely clear 🤔
ETH bears shed bitter tears, they received liquidations of $ 700 million in 24 hours. But ETH bulls are waiting for news about the successful merger of POS and POW algorithms in the test network 😇
🔹 Top 3 in 24 hours:
Theta Network - $1.36 (↑13.71%)
Cardano - $0.6384 (↑13.59%)
Helium - $10.66 (↑13.22%)
Bitcoin longs peaked at 88.8k BTC on Bitfinex 📈
A significant increase in open longs began from the beginning of May after the fall of bitcoin by $30k.
Added the BTC rate to the chart in orange. It is noticeable that when longs are at their peak, bitcoin is near the bottom. And vice versa.
Just In: Former OpenSea Executive Charged With NFT Insider Trading
https://bit.ly/3m5OLqc
⚡️ LUNA 2.0 trading has started on Bybit
The LUNA 2.0 airdrop was credited to everyone on Terra Station wallets, there is no need to stigmatize anything. To see the drop, just switch to the Phoenix-1 network in Terra Station.
We accrued 30%, the remaining 70% are in vesting and staking. Their users will receive after 6 months during the next year.
Exchanges have not yet distributed the drop.
Developer activity in NFT peaked twice in 10 days 📈
What does it say?
Despite the market downturn, the NFT sector has attracted teams and developers ready to create cool products. Especially now, when the competition is lower.
For those who do not believe in the market, let me remind you:
All niche leaders in crypto were created during the bear market: Coinbase, Ethereum, OpenSea, Uniswap.
🚨Edain marked the start of the biggest and most awaited competition so far!
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Just-In: Crypto Exchange FTX Launches Stock Trading For U.S. Customers
https://bit.ly/3sJ9bcc
Yesterday the fear index dropped to 8 points - extreme fear 🔻
The last time such an indicator was in March 2020 during the corona dump.
Now this is provoked by a lunadump and a drop in confidence in stables, DeFi and many altcoins.
After the panic sell-off, the market calmed down. Most likely for a couple of months. Summer is coming, a historically sluggish month for economic activity.
The strategy for the current market is to survive!
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USDD continues to depeg against the dollar despite a slight market bounce 📉
Given the cunning Justin Sun, it is best not to touch projects from the Tron ecosystem at all, except for USDT.
Let's meet the international fintech ZEN! It will accept and convert digital assets to fiat upon receipt. Currently, the service supports Bitcoin (including instant transfers and top-ups), Ethereum, and USD-T, as well as Litecoin (only transfers from fiat account to an exchange or a wallet). Convert also digital assets to EUR or other currencies and spend funds conveniently with your Mastercard. One of the attractive features of the service is its competitive pricing. Top-ups, meaning sending the assets from an exchange or a digital wallet to an EUR currency account at ZEN incurs a fee of 0.5% (Platinum plan) or 0.9% (Gold plan). This is a no-brainer. ccess to Gold plan costs EUR 0,99 monthly, while Platinum is just EUR 4,99 monthly.
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Celsius Added Liquidity and 'Moved the Liquidation Price of 24k WBTC by $16,852'
Next target for BTC? 🤔
Inflation in the US is breaking records again: the value for May is 8.6%, while the forecast is 8.3% 😬
The slowdown in inflation in April turned out to be only temporary, the data is again above market expectations and this is a reason for the Fed to further tighten monetary policy.
Bitcoin on these data has already walked by $ 29,500, we are waiting for the opening of the US stock market and the Fed's comments (if any).
Shortists lost $799 million in a day 📈
Of these, almost $700 million is short Ethereum, and only $50 is BTC 😮
This is the biggest Ethereum liquidation in 3 years...
Spot trading volume up 15% in May 📊
I even know one coin that had a big impact on it...
Blockchain Map by Kyros Ventures 🌏
The Foundation made an interesting blockchain infographic in the form of continents and submitted it in the report.
STEP stats 📊
- The number of users in the BSC network grew by 15% in a day and by 95% in a week.
- Today, the net inflow of funds in the BSC network amounted to $7 million and grew by 304% per day.
- According to Solana: 520k GST wallets. Up 12% in a week. Yesterday, 13 thousand new users were added per day - the average number per week.
- Tokenomics: GMT circulation decreased by 0.4%, while GST circulation grew by 2.4% per day 🤔
🔹 Conclusion:
Application activity remains at the level. Players prefer the BSC network. This may continue to negatively affect the GST (Sol) rate.
However, developers are likely to split the energy for each network separately. This will help keep the GST (sol) rate + "cool" the BSC rate a little.
The capitalization of the crypto market is $1.276 trillion and is near the minimum value over the past 12 months. At the same time, the share of BTC in the market is growing, while ETH maintains its positions, which indicates a gradual outflow of funds from other cryptocurrencies. Although alts shoot on occasion, but in the long term, there is less and less faith in them 😉
Since May 13, Bitcoin has been stuck in the sideways range of $31.3k - $28.6k. As the meme wisdom says, “the spring is compressing”, but now we are not talking about X, the buyer’s activity is low and this does not allow BTC to continue recovering after the local bottom on May 12 🤔
🔹 Top 3 in 24 hours:
Kyber Network Crystal v2 - $2.66 (↑27.07%)
Monero - $175.60 (↑12.01%)
Cosmos - $11.41 (↑11.58%)
The crypto market has lost $1 trillion since the beginning of the year 📉
The rest of the financial markets are also in a drawdown of 17-24% since the beginning of the year.
▶️ Voting has started on the launch of the Terra 2.0 blockchain
Suggestion: Rename the old network to Luna Clasic (LUNC) and revive the new LUNA blockchain.
The new LUNA will be distributed among LUNC holders, UST and application developers.
At the moment, 88% of voters support the proposal.
❗️ If the offer is successful, a final snapshot of the Terra Classic network in block 7790000 will be taken (May 27, 2022 at 03:59:51+08:00) and a new network will be created.
Volatility History of Algorithmic Stablecoins 📊
Of all of them, only FRAX has not yet lost its binding, by more than a few%.
And the most reliable "stable" of all time is Bitcoin.
CZ (Binance) criticized the Terra team and their actions
CZ writes that he usually does not interfere in the affairs of other projects, but this time he will make an exception:
Binance has completely suspended LUNA and UST trading.
Breaking: Terra’s Do Kwon Plans To Sacrifice LUNA To Support UST Peg
https://bit.ly/3w1HbTd