☝Binance resumed withdrawals of LUNA and UST
💸The Binance cryptocurrency exchange temporarily suspended withdrawals of Terra (LUNA) token and TerraUSD (UST) stablecoin. According to the company’s announcement, this decision was taken due to “a high volume of pending withdrawal transactions” and “network slowness and congestion.” Traders started selling UST as the stablecoin lost its peg to the dollar, falling to $0,66. At the same time, its backing token LUNA has lost 50% of its value over the past 24 hours, trading at $30,52 as of 13:00 Moscow time. Withdrawals on Binance have already resumed.
https://getblock.net/en/news/binance-resumed-withdrawals-of-luna-and-ust/
💸The Binance cryptocurrency exchange temporarily suspended withdrawals of Terra (LUNA) token and TerraUSD (UST) stablecoin. According to the company’s announcement, this decision was taken due to “a high volume of pending withdrawal transactions” and “network slowness and congestion.” Traders started selling UST as the stablecoin lost its peg to the dollar, falling to $0,66. At the same time, its backing token LUNA has lost 50% of its value over the past 24 hours, trading at $30,52 as of 13:00 Moscow time. Withdrawals on Binance have already resumed.
https://getblock.net/en/news/binance-resumed-withdrawals-of-luna-and-ust/
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💰El Salvador added $15 million worth of bitcoins after the crypto market collapses
🗣On May 9, El Salvador’s President Nayib Bukele announced on his Twitter the purchase of 500 BTC. According to the president, the purchase was made while the currency exchange rate was falling at a price of $30 744 for a total of $15,3 million. Including the new funds, El Salvador owns 2301 BTC ($72 million at the exchange rate as of May 10, 2022, according to Binance).
https://getblock.net/en/news/el-salvador-added-15-million-worth-of-bitcoins-after-the-crypto-market-collapses/
🗣On May 9, El Salvador’s President Nayib Bukele announced on his Twitter the purchase of 500 BTC. According to the president, the purchase was made while the currency exchange rate was falling at a price of $30 744 for a total of $15,3 million. Including the new funds, El Salvador owns 2301 BTC ($72 million at the exchange rate as of May 10, 2022, according to Binance).
https://getblock.net/en/news/el-salvador-added-15-million-worth-of-bitcoins-after-the-crypto-market-collapses/
🏁ARK Invest’s head predicted the end of a bear market
💭ARK Invest founder Cathie Wood has said that the increasing correlation between the price of cryptocurrencies and traditional assets indicates the approaching end of a bear market. In her new YouTube video, Wood stated that the “bottom” for the price of bitcoin and other digital assets is probably near. The value of the first cryptocurrency is falling along with the stock market, which according to Wood is a temporary phenomenon.
https://getblock.net/en/news/ark-invests-head-predicted-the-end-of-a-bear-market
💭ARK Invest founder Cathie Wood has said that the increasing correlation between the price of cryptocurrencies and traditional assets indicates the approaching end of a bear market. In her new YouTube video, Wood stated that the “bottom” for the price of bitcoin and other digital assets is probably near. The value of the first cryptocurrency is falling along with the stock market, which according to Wood is a temporary phenomenon.
https://getblock.net/en/news/ark-invests-head-predicted-the-end-of-a-bear-market
☝Peter Schiff called the condition for the bitcoin price to fall below $10 000
📉The head of the brokerage firm Euro Pacific Capital Inc. Peter Schiff suggested that the price of bitcoin could fall below $10 000 if the rate of the first cryptocurrency continued to decline past the $30 000 mark. He conducted a poll on his Twitter to determine what the owners of the asset would do. Schiff noted that he left out the option of buying more bitcoins in the current market situation. In his view, it is a bad decision. However, the investor is confident that many hodlers will do just that until they run out of money. Schiff himself considers the best tactic to sell assets in order to then buy them back when the value falls. The stockbroker also urged crypto market participants not to make rash decisions.
https://getblock.net/en/news/peter-schiff-called-the-condition-for-the-bitcoin-price-to-fall-below-10-000
📉The head of the brokerage firm Euro Pacific Capital Inc. Peter Schiff suggested that the price of bitcoin could fall below $10 000 if the rate of the first cryptocurrency continued to decline past the $30 000 mark. He conducted a poll on his Twitter to determine what the owners of the asset would do. Schiff noted that he left out the option of buying more bitcoins in the current market situation. In his view, it is a bad decision. However, the investor is confident that many hodlers will do just that until they run out of money. Schiff himself considers the best tactic to sell assets in order to then buy them back when the value falls. The stockbroker also urged crypto market participants not to make rash decisions.
https://getblock.net/en/news/peter-schiff-called-the-condition-for-the-bitcoin-price-to-fall-below-10-000
💥 Cryptocurrency price dynamics 11.05.2022💥
All crypto-assets in the top 10 by market capitalization are in the "red zone" today:
⬇️ Avalanche showed the biggest drop overnight: -21.0%.
🔴 BTC - $ 30,663.20 (-5.2%)
🔴 ETH - $ 2,309.00 (-4.4%)
🔴 BNB - $ 303.27 (-7.6%)
🔴 XRP - $ 0.503347 (-5.3%)
🔴 SOL - $62.74 (-12.5%)
🔴 ADA - $0.607533 (-11.5%)
🔴 DOGE - $ 0.104022 (-8.9%)
🔴 DOT - $10.59 (-12.0%)
🔴 AVAX - $37.02 (-21.0%)
🔴 SHIB - $ 0.00001520 (-9.9%)
All crypto-assets in the top 10 by market capitalization are in the "red zone" today:
⬇️ Avalanche showed the biggest drop overnight: -21.0%.
🔴 BTC - $ 30,663.20 (-5.2%)
🔴 ETH - $ 2,309.00 (-4.4%)
🔴 BNB - $ 303.27 (-7.6%)
🔴 XRP - $ 0.503347 (-5.3%)
🔴 SOL - $62.74 (-12.5%)
🔴 ADA - $0.607533 (-11.5%)
🔴 DOGE - $ 0.104022 (-8.9%)
🔴 DOT - $10.59 (-12.0%)
🔴 AVAX - $37.02 (-21.0%)
🔴 SHIB - $ 0.00001520 (-9.9%)
☝US Fed warned about the risks associated with stablecoins
📊The US Federal Reserve System (Fed) has drawn attention to the risk of a fall in the stablecoin market. The Fed has stressed that stablecoins, along with some money market funds (MMFs) and bonds, are risk areas in the current financial system, particularly in the field of funding. This is reported in the regulator’s report.
https://getblock.net/en/news/us-fed-warned-about-the-risks-associated-with-stablecoins
📊The US Federal Reserve System (Fed) has drawn attention to the risk of a fall in the stablecoin market. The Fed has stressed that stablecoins, along with some money market funds (MMFs) and bonds, are risk areas in the current financial system, particularly in the field of funding. This is reported in the regulator’s report.
https://getblock.net/en/news/us-fed-warned-about-the-risks-associated-with-stablecoins
Let’s take a closer look at the wedge formed on the daily timeframe. Support is at the level of $28-30 000, below which bitcoin last traded at the end of 2020. The upper boundary of the wedge is around $38 000. There is also an important resistance there, so the asset is unlikely to be able to overcome this range at the first attempt.
Bitcoin is likely to reach $37-38 000 in the coming weeks but then fall back to the lower boundary of the wedge. It should be taken into account that, at any moment, bitcoin can break out the wedge either upward or downward, under the influence of various unforeseen events.
The material is not an investment recommendation and is published for information purposes only. Remember: technical analysis does not guarantee successful trading, as it is based on historical data only.
https://getblock.net/en/market-analysis/btc-review-dated-11052022
#BTC #Analytics
Bitcoin is likely to reach $37-38 000 in the coming weeks but then fall back to the lower boundary of the wedge. It should be taken into account that, at any moment, bitcoin can break out the wedge either upward or downward, under the influence of various unforeseen events.
The material is not an investment recommendation and is published for information purposes only. Remember: technical analysis does not guarantee successful trading, as it is based on historical data only.
https://getblock.net/en/market-analysis/btc-review-dated-11052022
#BTC #Analytics
👾DeFi protocol Fortress lost all funds in hack
💻On May 9, Fortress, a DeFi protocol, was hacked, resulting in the theft of all of the platform’s funds ($3 million). The stolen cryptocurrency was diverted from the Binance Smart Chain to Ethereum and mixed using the Tornado Cash transaction mixer. This was made possible due to a decentralized autonomous organization (DAO) and the manipulation of a price oracle. The quorum votes on Fortress Credits governance contract was 400 000 FTS ($18 000 at the time of the hack).
https://getblock.net/en/news/defi-protocol-fortress-lost-all-funds-in-hack
💻On May 9, Fortress, a DeFi protocol, was hacked, resulting in the theft of all of the platform’s funds ($3 million). The stolen cryptocurrency was diverted from the Binance Smart Chain to Ethereum and mixed using the Tornado Cash transaction mixer. This was made possible due to a decentralized autonomous organization (DAO) and the manipulation of a price oracle. The quorum votes on Fortress Credits governance contract was 400 000 FTS ($18 000 at the time of the hack).
https://getblock.net/en/news/defi-protocol-fortress-lost-all-funds-in-hack
🤔Galaxy Digital CEO called the future of the crypto market “volatile and difficult”
📉Galaxy Digital CEO Michael Novogratz expects the digital asset market to be “volatile and difficult” over the next few quarters. He attributed this to the fact that the crypto market is dependent on changes in US company share prices. Novogratz added that cryptocurrencies would remain correlated to the NASDAQ exchange until they reach a new equilibrium. According to the investor, the industry expects losses in a highly volatile environment.
https://getblock.net/en/news/galaxy-digital-ceo-called-the-future-of-the-crypto-market-volatile-and-difficult/
📉Galaxy Digital CEO Michael Novogratz expects the digital asset market to be “volatile and difficult” over the next few quarters. He attributed this to the fact that the crypto market is dependent on changes in US company share prices. Novogratz added that cryptocurrencies would remain correlated to the NASDAQ exchange until they reach a new equilibrium. According to the investor, the industry expects losses in a highly volatile environment.
https://getblock.net/en/news/galaxy-digital-ceo-called-the-future-of-the-crypto-market-volatile-and-difficult/
👍Talos raised $105 million led by General Atlantic
💰Talos, a cryptocurrency platform, raised $105 million in a Series B funding round led by the investment firm General Atlantic. Other investors include BNY Mellon, Citi, Wells Fargo Strategic Capital, DRW, SCB 10x, and Matrix Capital Management. Among other investors also are Andreessen Horowitz (a16z), PayPal Ventures, Fidelity Investments, and others. The value of Talos has reached $1,25 billion. This is reported in the company’s press release.
https://getblock.net/en/news/talos-raised-105-million-led-by-general-atlantic/
💰Talos, a cryptocurrency platform, raised $105 million in a Series B funding round led by the investment firm General Atlantic. Other investors include BNY Mellon, Citi, Wells Fargo Strategic Capital, DRW, SCB 10x, and Matrix Capital Management. Among other investors also are Andreessen Horowitz (a16z), PayPal Ventures, Fidelity Investments, and others. The value of Talos has reached $1,25 billion. This is reported in the company’s press release.
https://getblock.net/en/news/talos-raised-105-million-led-by-general-atlantic/
💵Luna Foundation Guard to raise $1 billion to support UST stablecoin
📊The Luna Foundation Guard (LFG), a non-profit organization, plans to raise $1 billion to support the UST algorithmic stablecoin, which lost parity to the US dollar on May 9, 2022. This is reported by The Block.
https://getblock.net/en/news/luna-foundation-guard-to-raise-1-billion-to-support-ust-stablecoin/
📊The Luna Foundation Guard (LFG), a non-profit organization, plans to raise $1 billion to support the UST algorithmic stablecoin, which lost parity to the US dollar on May 9, 2022. This is reported by The Block.
https://getblock.net/en/news/luna-foundation-guard-to-raise-1-billion-to-support-ust-stablecoin/
❗IMF confirmed the effectiveness of cryptocurrencies to circumvent sanctions
📄The semi-legal status of cryptocurrencies and the high degree of decentralization allow them to be used to circumvent sanctions. These findings are contained in a paper on the participation of cryptocurrencies in capital flows published on the International Monetary Fund’s (IMF) website.
https://getblock.net/en/news/imf-confirmed-the-effectiveness-of-cryptocurrencies-to-circumvent-sanctions
📄The semi-legal status of cryptocurrencies and the high degree of decentralization allow them to be used to circumvent sanctions. These findings are contained in a paper on the participation of cryptocurrencies in capital flows published on the International Monetary Fund’s (IMF) website.
https://getblock.net/en/news/imf-confirmed-the-effectiveness-of-cryptocurrencies-to-circumvent-sanctions
⚖️ BitRiver to sue US Treasury over sanctions
☝The Russian operator of mining centers BitRiver may sue the US Treasury Department because of the sanctions imposed in April 2022. The company told RIA Novosti reporters about this.
https://getblock.net/en/news/bitriver-to-sue-us-treasury-over-sanctions/
☝The Russian operator of mining centers BitRiver may sue the US Treasury Department because of the sanctions imposed in April 2022. The company told RIA Novosti reporters about this.
https://getblock.net/en/news/bitriver-to-sue-us-treasury-over-sanctions/
📉UST stablecoin rate dropped to $0,22
📊Over the past 24 hours, the rate of the algorithmic stablecoin TerraUSD (UST) has been declining to a low of $0,22. As of May 11, 13:00 Moscow time, the coin is trading at $0,45 (according to Binance). The cryptocurrency’s collapse began on May 8, when the stablecoin temporarily lost its peg to the dollar.
https://getblock.net/en/news/ust-stablecoin-rate-dropped-to-022/
📊Over the past 24 hours, the rate of the algorithmic stablecoin TerraUSD (UST) has been declining to a low of $0,22. As of May 11, 13:00 Moscow time, the coin is trading at $0,45 (according to Binance). The cryptocurrency’s collapse began on May 8, when the stablecoin temporarily lost its peg to the dollar.
https://getblock.net/en/news/ust-stablecoin-rate-dropped-to-022/
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💰Kraken CEO called the condition for investing all his funds in bitcoin
📉The CEO of the Kraken cryptocurrency exchange Jesse Powell said that he is ready to spend all his funds to buy bitcoin if the asset is worth $20 000.
https://getblock.net/en/news/kraken-ceo-called-the-condition-for-investing-all-his-funds-in-bitcoin/
📉The CEO of the Kraken cryptocurrency exchange Jesse Powell said that he is ready to spend all his funds to buy bitcoin if the asset is worth $20 000.
https://getblock.net/en/news/kraken-ceo-called-the-condition-for-investing-all-his-funds-in-bitcoin/
💰MicroStrategy refused to sell bitcoins to secure loans
❌MicroStrategy has no plans to sell bitcoins from its cryptocurrency reserves to secure previously taken loans. This was announced by the company’s head Michael Saylor on his Twitter account.
https://getblock.net/en/news/microstrategy-refused-to-sell-bitcoins-to-secure-loans
❌MicroStrategy has no plans to sell bitcoins from its cryptocurrency reserves to secure previously taken loans. This was announced by the company’s head Michael Saylor on his Twitter account.
https://getblock.net/en/news/microstrategy-refused-to-sell-bitcoins-to-secure-loans
📉Coinbase’s first quarter 2022 losses amounted to $430 million
📄The management of the Coinbase cryptocurrency exchange has submitted its quarterly report for the first quarter of 2022 to the US Securities and Exchange Commission (SEC). According to the document, the company had total revenue of $1,65 billion and a net loss of $430 million. The total trading volume fell to $309 billion, compared to $547 billion in the fourth quarter of 2021.
https://getblock.net/en/news/coinbases-first-quarter-2022-losses-amounted-to-430-million
📄The management of the Coinbase cryptocurrency exchange has submitted its quarterly report for the first quarter of 2022 to the US Securities and Exchange Commission (SEC). According to the document, the company had total revenue of $1,65 billion and a net loss of $430 million. The total trading volume fell to $309 billion, compared to $547 billion in the fourth quarter of 2021.
https://getblock.net/en/news/coinbases-first-quarter-2022-losses-amounted-to-430-million
💰Trader made $760 000 on the UST collapse
📉The co-founder of the bankrupt Canadian exchange QuadrigaCX Michael Patryn made $760 000 on the drop in the rate of the TerraUSD (UST) stablecoin. According to PeckShield, the trader exchanged 2,8 million Tether (USDT) stablecoins for 3,88 million UST when the price of the latter fell to $0,72. After a while, UST recovered its position and approached $1, then Patryn made a reverse exchange and sold 3,88 million UST for 3,56 million USDT.
https://getblock.net/en/news/trader-made-760-000-on-the-ust-collapse/
📉The co-founder of the bankrupt Canadian exchange QuadrigaCX Michael Patryn made $760 000 on the drop in the rate of the TerraUSD (UST) stablecoin. According to PeckShield, the trader exchanged 2,8 million Tether (USDT) stablecoins for 3,88 million UST when the price of the latter fell to $0,72. After a while, UST recovered its position and approached $1, then Patryn made a reverse exchange and sold 3,88 million UST for 3,56 million USDT.
https://getblock.net/en/news/trader-made-760-000-on-the-ust-collapse/
❗️Investors deposited bitcoins worth 1,27 billion on crypto exchanges overnight
📈On May 10, 2022, about 40 620 BTC ($1,27 billion at the Binance exchange rate on May 11) were sent to crypto exchanges. This is the largest inflow of funds to the platforms since December 2019, according to the analytical company Santiment.
https://getblock.net/en/news/investors-deposited-bitcoins-worth-127-billion-on-crypto-exchanges-overnight
📈On May 10, 2022, about 40 620 BTC ($1,27 billion at the Binance exchange rate on May 11) were sent to crypto exchanges. This is the largest inflow of funds to the platforms since December 2019, according to the analytical company Santiment.
https://getblock.net/en/news/investors-deposited-bitcoins-worth-127-billion-on-crypto-exchanges-overnight
⚠️Tether blocks USDT on cold wallets. Why this is happening
👀The issuer of the popular stablecoin regularly adds to its blacklist of addresses. In this article, we will explain which wallets can fall under the company's spotlight.
https://getblock.net/en/articles/tether-blocks-usdt-on-cold-wallets-why-this-is-happening
👀The issuer of the popular stablecoin regularly adds to its blacklist of addresses. In this article, we will explain which wallets can fall under the company's spotlight.
https://getblock.net/en/articles/tether-blocks-usdt-on-cold-wallets-why-this-is-happening
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💥 Cryptocurrency price dynamics 12.05.2022💥
All crypto-assets in the top 10 by market capitalization are in the "red zone" today:
⬇️ Avalanche showed the biggest drop overnight: -34.4%.
🔴 BTC - $ 26,900.47 (-12.3%)
🔴 ETH - $ 1,832.78 (-20.5%)
🔴 BNB - $ 232.91 (-23.3%)
🔴 XRP - $ 0.370979 (-26.4%)
🔴 ADA - $ 0.426583 (-29.6%)
🔴 SOL - $ 40.37 (-35.3%)
🔴 DOGE - $ 0.074061 (-28.8%)
🔴 DOT - $7.65 (-27.5%)
🔴 TRX - $ 0.073270 (-2.6%)
🔴 AVAX - $25.08 (-34.4%)
All crypto-assets in the top 10 by market capitalization are in the "red zone" today:
⬇️ Avalanche showed the biggest drop overnight: -34.4%.
🔴 BTC - $ 26,900.47 (-12.3%)
🔴 ETH - $ 1,832.78 (-20.5%)
🔴 BNB - $ 232.91 (-23.3%)
🔴 XRP - $ 0.370979 (-26.4%)
🔴 ADA - $ 0.426583 (-29.6%)
🔴 SOL - $ 40.37 (-35.3%)
🔴 DOGE - $ 0.074061 (-28.8%)
🔴 DOT - $7.65 (-27.5%)
🔴 TRX - $ 0.073270 (-2.6%)
🔴 AVAX - $25.08 (-34.4%)