⚠️Crypto exchange Bithumb may delist Litecoin
📊South Korean exchange Bithumb has announced the possible delisting of Litecoin (LTC). In a statement, the exchange’s representatives wrote that after the MimbleWimble Extension Blocks (MWEB) upgrade, transactions on the network became more private. Because of this, the coin is no longer compliant with the regulators’ rules, particularly KYC (“know your customer”) and KYT (“know your transaction”).
https://getblock.net/en/news/crypto-exchange-bithumb-may-delist-litecoin/
📊South Korean exchange Bithumb has announced the possible delisting of Litecoin (LTC). In a statement, the exchange’s representatives wrote that after the MimbleWimble Extension Blocks (MWEB) upgrade, transactions on the network became more private. Because of this, the coin is no longer compliant with the regulators’ rules, particularly KYC (“know your customer”) and KYT (“know your transaction”).
https://getblock.net/en/news/crypto-exchange-bithumb-may-delist-litecoin/
👮♂️South Korean police suspected Terra of embezzling investors’ funds
🔒The Seoul Metropolitan Police Department has asked the local exchanges to block the possibility of any corporate funds being withdrawn by the non-profit organization Luna Foundation Guard (LFG). This is due to an investigation into the rate collapse of the TerraUSD (UST) stablecoin and its backing token LUNA.
https://getblock.net/en/news/south-korean-police-suspected-terra-of-embezzling-investors-funds/
🔒The Seoul Metropolitan Police Department has asked the local exchanges to block the possibility of any corporate funds being withdrawn by the non-profit organization Luna Foundation Guard (LFG). This is due to an investigation into the rate collapse of the TerraUSD (UST) stablecoin and its backing token LUNA.
https://getblock.net/en/news/south-korean-police-suspected-terra-of-embezzling-investors-funds/
🚀CoinDesk announced the launch of the DESK token for rewards
💻CoinDesk, an information portal, has announced the launch of its social token, DESK, with beta testing taking place as recently as last year. The main idea behind DESK is to create a loyal and engaged community by providing incentives to interact with CoinDesk’s content and each other. The token will also give newcomers an opportunity to learn about blockchain technology and gain experience with a crypto wallet. The full launch will take place during the Consensus 2022 festival, which will be held in Austin, Texas, from June 9 to 12.
https://getblock.net/en/news/coindesk-announced-the-launch-of-the-desk-token-for-rewards/
💻CoinDesk, an information portal, has announced the launch of its social token, DESK, with beta testing taking place as recently as last year. The main idea behind DESK is to create a loyal and engaged community by providing incentives to interact with CoinDesk’s content and each other. The token will also give newcomers an opportunity to learn about blockchain technology and gain experience with a crypto wallet. The full launch will take place during the Consensus 2022 festival, which will be held in Austin, Texas, from June 9 to 12.
https://getblock.net/en/news/coindesk-announced-the-launch-of-the-desk-token-for-rewards/
❌Coinbase began blocking accounts of Russians
🇷🇺Russian clients of cryptocurrency exchange Coinbase have begun to restrict access to the platform. This is reported by social media users with reference to letters coming from Coinbase. In them, the exchange motivates its decision by the need to comply with the requirements of the US Financial Crimes Enforcement Agency (FinCEN).
https://getblock.net/en/news/coinbase-began-blocking-accounts-of-russians
🇷🇺Russian clients of cryptocurrency exchange Coinbase have begun to restrict access to the platform. This is reported by social media users with reference to letters coming from Coinbase. In them, the exchange motivates its decision by the need to comply with the requirements of the US Financial Crimes Enforcement Agency (FinCEN).
https://getblock.net/en/news/coinbase-began-blocking-accounts-of-russians
📝Updated draft law on mining in Russia submitted to the State Duma
⛏A new version of the law “On Mining in the Russian Federation” has been registered in the State Duma of the Russian Federation. The previous version of the document was shelved, and a number of provisions on the register and tax amnesty for mining participants were also removed from it.
https://getblock.net/en/news/south-korean-police-suspected-terra-of-embezzling-investors-funds/
⛏A new version of the law “On Mining in the Russian Federation” has been registered in the State Duma of the Russian Federation. The previous version of the document was shelved, and a number of provisions on the register and tax amnesty for mining participants were also removed from it.
https://getblock.net/en/news/south-korean-police-suspected-terra-of-embezzling-investors-funds/
🌐Terra representatives proposed creating new network instead of holding a hard fork
📢Terra representatives revealed that the proposal to revive the ecosystem does not involve a hard fork. Instead, a new Terra 2.0 (LUNA) blockchain will be created, with no shared history with the old Terra Classic (LUNC) network. If the proposal is approved, assets and decentralized applications (dApps) will need to be migrated to the new blockchain.
https://getblock.net/en/news/terra-representatives-proposed-creating-new-network-instead-of-holding-a-hard-fork
📢Terra representatives revealed that the proposal to revive the ecosystem does not involve a hard fork. Instead, a new Terra 2.0 (LUNA) blockchain will be created, with no shared history with the old Terra Classic (LUNC) network. If the proposal is approved, assets and decentralized applications (dApps) will need to be migrated to the new blockchain.
https://getblock.net/en/news/terra-representatives-proposed-creating-new-network-instead-of-holding-a-hard-fork
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💥Guggenheim Partners allowed the possibility of the bitcoin price to fall to $8 000
📉Guggenheim Partners Chief Investment Officer Scott Minerd said that the bitcoin rate could fall as low as $8 000. He attributed this to the US Federal Reserve System’s (Fed) hiking of interest rates and tightening of monetary policy.
https://getblock.net/en/news/guggenheim-partners-allowed-the-possibility-of-the-bitcoin-price-to-fall-to-8-000
📉Guggenheim Partners Chief Investment Officer Scott Minerd said that the bitcoin rate could fall as low as $8 000. He attributed this to the US Federal Reserve System’s (Fed) hiking of interest rates and tightening of monetary policy.
https://getblock.net/en/news/guggenheim-partners-allowed-the-possibility-of-the-bitcoin-price-to-fall-to-8-000
💥 Cryptocurrency price Dynamics 25.05.2022💥
Most crypto-assets in the top 10 by market capitalization are in the green zone today:
⬆️ Tron showed the biggest gain overnight: +3.8%;
⬇️ Avalanche showed the biggest decrease: -3.3%.
🟢 BTC - $ 29872.42 (+1.6%)
🟢 ETH - $ 1988.03 (+0.1%)
🟢 BNB - $ 331.42 (+1.1%)
🔴 XRP - $ 0.408774 (-0.3%)
🔴 ADA - $ 0.519498 (-0.2%)
🔴 SOL - $ 49.15 (-1.5%)
🟢 DOT - $ 10.02 (+0.5%)
🔴 DOGE - $ 0.083180 (-1.4%)
🔴 AVAX - $ 28.46 (-3.3%)
🟢 TRX - $ 0.081038 (+3.8%)
Most crypto-assets in the top 10 by market capitalization are in the green zone today:
⬆️ Tron showed the biggest gain overnight: +3.8%;
⬇️ Avalanche showed the biggest decrease: -3.3%.
🟢 BTC - $ 29872.42 (+1.6%)
🟢 ETH - $ 1988.03 (+0.1%)
🟢 BNB - $ 331.42 (+1.1%)
🔴 XRP - $ 0.408774 (-0.3%)
🔴 ADA - $ 0.519498 (-0.2%)
🔴 SOL - $ 49.15 (-1.5%)
🟢 DOT - $ 10.02 (+0.5%)
🔴 DOGE - $ 0.083180 (-1.4%)
🔴 AVAX - $ 28.46 (-3.3%)
🟢 TRX - $ 0.081038 (+3.8%)
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💻eBay to launch NFT collection with famous athletes
🏒eBay will release an exclusive NFT series as part of its partnership with OneOf, an eco-friendly non-fungible tokens platform. eBay’s first-ever “Genesis” NFT collection will include 3D and animated interpretations of photos of famous athletes featured on Sports Illustrated covers. Tokens featuring Canadian hockey player Wayne Gretzky are already available for purchase on the company’s website.
https://getblock.net/en/news/ebay-to-launch-nft-collection-with-famous-athletes/
🏒eBay will release an exclusive NFT series as part of its partnership with OneOf, an eco-friendly non-fungible tokens platform. eBay’s first-ever “Genesis” NFT collection will include 3D and animated interpretations of photos of famous athletes featured on Sports Illustrated covers. Tokens featuring Canadian hockey player Wayne Gretzky are already available for purchase on the company’s website.
https://getblock.net/en/news/ebay-to-launch-nft-collection-with-famous-athletes/
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Bitcoin
The global picture remains uncertain. The asset has already formed eight red weekly candles in a row (a historical record). It is likely that it will be the ninth red candle by the end of this week. Usually, a bounce follows in such situations, as bitcoin is in the extremely oversold zone and there is maximum fear in the market.
The current situation is complicated by uncertainty in the financial markets, a decline in stock indices amid tightening US monetary policy, and the high correlation of the crypto market with the S&P 500 and NASDAQ 100.
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-25052022
#BTC #Analytics
The global picture remains uncertain. The asset has already formed eight red weekly candles in a row (a historical record). It is likely that it will be the ninth red candle by the end of this week. Usually, a bounce follows in such situations, as bitcoin is in the extremely oversold zone and there is maximum fear in the market.
The current situation is complicated by uncertainty in the financial markets, a decline in stock indices amid tightening US monetary policy, and the high correlation of the crypto market with the S&P 500 and NASDAQ 100.
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-25052022
#BTC #Analytics
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⚠️IMF called unbacked stablecoins a pyramid scheme
💭International Monetary Fund (IMF) Executive Director Kristalina Georgieva said that stablecoins that are not backed by assets are a pyramid scheme. She said this in the wake of the recent collapse of the Terra (LUNA) ecosystem. Georgieva explained that a stablecoin can be called stable if it is backed with assets at a ratio of 1:1. And if “it is not backed with assets, but it is promised to deliver 20% return, it’s a pyramid.” Georgieva noted that such schemes collapse over time. She said this during a discussion at the World Economic Forum (WEF) in Davos.
https://getblock.net/en/news/imf-called-unbacked-stablecoins-a-pyramid-scheme
💭International Monetary Fund (IMF) Executive Director Kristalina Georgieva said that stablecoins that are not backed by assets are a pyramid scheme. She said this in the wake of the recent collapse of the Terra (LUNA) ecosystem. Georgieva explained that a stablecoin can be called stable if it is backed with assets at a ratio of 1:1. And if “it is not backed with assets, but it is promised to deliver 20% return, it’s a pyramid.” Georgieva noted that such schemes collapse over time. She said this during a discussion at the World Economic Forum (WEF) in Davos.
https://getblock.net/en/news/imf-called-unbacked-stablecoins-a-pyramid-scheme
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🤑Which altcoins to buy right now. Three coins from the analyst
🗣Crypto analyst Michaël van de Poppe spoke about the probability of growth in the rates of three altcoins: Chainlink (LINK), Decentraland (MANA), and THORChain (RUNE). He urged to buy the assets as soon as possible and spoke about each of them in more detail on Twitter.
https://getblock.net/en/news/which-altcoins-to-buy-right-now-three-coins-from-the-analyst
🗣Crypto analyst Michaël van de Poppe spoke about the probability of growth in the rates of three altcoins: Chainlink (LINK), Decentraland (MANA), and THORChain (RUNE). He urged to buy the assets as soon as possible and spoke about each of them in more detail on Twitter.
https://getblock.net/en/news/which-altcoins-to-buy-right-now-three-coins-from-the-analyst
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🔮Analyst predicted bitcoin rally amid its following the 2018 market structure
📈Crypto analyst and trader Benjamin Cowen predicted a rise in the price of bitcoin to $40 000-$42 000 from June 2022. He attributed this assumption to bitcoin following a market structure from 2018. According to him, the asset had seen higher lows in the $9 000-$11 000 range in January 2018. Cowen notes that bitcoin eventually crashed and set a new low of around $5 800.
https://getblock.net/en/news/analyst-predicted-bitcoin-rally-amid-its-following-the-2018-market-structure/
📈Crypto analyst and trader Benjamin Cowen predicted a rise in the price of bitcoin to $40 000-$42 000 from June 2022. He attributed this assumption to bitcoin following a market structure from 2018. According to him, the asset had seen higher lows in the $9 000-$11 000 range in January 2018. Cowen notes that bitcoin eventually crashed and set a new low of around $5 800.
https://getblock.net/en/news/analyst-predicted-bitcoin-rally-amid-its-following-the-2018-market-structure/
📊Crypto analyst said the bitcoin rate ready for a bounce
🙌Crypto analyst and trader Kevin Svenson believes that the bitcoin price is ready for a bounce along with the US stock market. According to him, the asset has recently demonstrated an almost 90% correlation with the S&P 500 index. The analyst told that the S&P 500 is reaching “extremely oversold levels” on the weekly relative strength index (RSI), a metric that measures trend strength. Svenson notes that the index has not reached such a low level since the market crash in early 2020, caused by COVID-19.
https://getblock.net/en/news/crypto-analyst-said-the-bitcoin-rate-ready-for-a-bounce
🙌Crypto analyst and trader Kevin Svenson believes that the bitcoin price is ready for a bounce along with the US stock market. According to him, the asset has recently demonstrated an almost 90% correlation with the S&P 500 index. The analyst told that the S&P 500 is reaching “extremely oversold levels” on the weekly relative strength index (RSI), a metric that measures trend strength. Svenson notes that the index has not reached such a low level since the market crash in early 2020, caused by COVID-19.
https://getblock.net/en/news/crypto-analyst-said-the-bitcoin-rate-ready-for-a-bounce
📢IMF said the danger of cryptocurrencies
🤔Gita Gopinath, Deputy Managing Director of the International Monetary Fund (IMF), described cryptocurrencies as an extremely risky asset class and noted that they need to be regulated. She also stressed that over the past six months, the capitalization of the digital assets market has dropped from $3 trillion to $1,5 trillion, making cryptocurrencies a huge risk and cannot be classified as a high-yield investment. Gopinath said this during the World Economic Forum (WEF) in Davos.
https://getblock.net/en/news/imf-said-the-danger-of-cryptocurrencies/
🤔Gita Gopinath, Deputy Managing Director of the International Monetary Fund (IMF), described cryptocurrencies as an extremely risky asset class and noted that they need to be regulated. She also stressed that over the past six months, the capitalization of the digital assets market has dropped from $3 trillion to $1,5 trillion, making cryptocurrencies a huge risk and cannot be classified as a high-yield investment. Gopinath said this during the World Economic Forum (WEF) in Davos.
https://getblock.net/en/news/imf-said-the-danger-of-cryptocurrencies/
🚀Terra 2.0 network will launch on May 27. Who will get the new LUNA tokens
💻According to the developers' blog, Terra 2.0 will launch on May 27. The “pre-attack” snapshot is considered May 7, 2022, and there will also be a snapshot before the launch of the new network. Based on these two snapshots, a drop of new tokens will be conducted.
https://getblock.net/en/news/terra-20-network-will-launch-on-may-27-who-will-get-the-new-luna-tokens
💻According to the developers' blog, Terra 2.0 will launch on May 27. The “pre-attack” snapshot is considered May 7, 2022, and there will also be a snapshot before the launch of the new network. Based on these two snapshots, a drop of new tokens will be conducted.
https://getblock.net/en/news/terra-20-network-will-launch-on-may-27-who-will-get-the-new-luna-tokens
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📊Macroeconomist calls business models of most altcoins unsustainable
📢Macroeconomist Lyn Alden said that most altcoins are based on unsustainable business models. She explained that many projects intentionally sell assets at lower prices to make more profits. According to Alden, in such models, after an initial explosive phase of revenue growth, altcoin developers may raise prices. However, this will only work if the asset is in demand for its own sake, not because it is underpriced.
https://getblock.net/en/news/macroeconomist-calls-business-models-of-most-altcoins-unsustainable
📢Macroeconomist Lyn Alden said that most altcoins are based on unsustainable business models. She explained that many projects intentionally sell assets at lower prices to make more profits. According to Alden, in such models, after an initial explosive phase of revenue growth, altcoin developers may raise prices. However, this will only work if the asset is in demand for its own sake, not because it is underpriced.
https://getblock.net/en/news/macroeconomist-calls-business-models-of-most-altcoins-unsustainable
🔌Hydropower plant in China fined for supplying energy for mining
🇨🇳Chinese authorities fined a hydropower plant in Hubei province 43 493 yuan ($6516 at the exchange rate on May 25) for illegally supplying electricity for mining cryptocurrencies.
https://getblock.net/en/news/hydropower-plant-in-china-fined-for-supplying-energy-for-mining
🇨🇳Chinese authorities fined a hydropower plant in Hubei province 43 493 yuan ($6516 at the exchange rate on May 25) for illegally supplying electricity for mining cryptocurrencies.
https://getblock.net/en/news/hydropower-plant-in-china-fined-for-supplying-energy-for-mining
💥How the Terra ecosystem collapsed. Full timeline of events
📉The editorial staff of GetBlock Magazine collected the most important news after the collapse of the LUNA token and UST stablecoin
https://getblock.net/en/articles/how-the-terra-ecosystem-collapsed-full-timeline-of-events
📉The editorial staff of GetBlock Magazine collected the most important news after the collapse of the LUNA token and UST stablecoin
https://getblock.net/en/articles/how-the-terra-ecosystem-collapsed-full-timeline-of-events
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💥 Cryptocurrency price dynamics 26.05.2022💥
Almost all crypto assets in the top 10 by market capitalization are in the "red zone" today:
⬆️ Tron showed the biggest gain overnight: +2.0%;
⬇️ Avalanche showed the biggest decrease: -8.3%.
🔴 BTC - $ 29,715.26 (-0.5%)
🔴 ETH - $ 1,924.36 (-3.2%)
🔴 BNB - $ 317.56 (-4.1%)
🔴 XRP - $ 0.401556 (-1.6%)
🔴 ADA - $ 0.503206 (-3.0%)
🔴 SOL - $ 46.60 (-5.1%)
🔴 DOGE - $ 0.080988 (-2.6%)
🔴 DOT - $ 9.63 (-3.6%)
🔴 AVAX - $ 26.11 (-8.3%)
🟢 TRX - $ 0.082655 (+2.0%)
Almost all crypto assets in the top 10 by market capitalization are in the "red zone" today:
⬆️ Tron showed the biggest gain overnight: +2.0%;
⬇️ Avalanche showed the biggest decrease: -8.3%.
🔴 BTC - $ 29,715.26 (-0.5%)
🔴 ETH - $ 1,924.36 (-3.2%)
🔴 BNB - $ 317.56 (-4.1%)
🔴 XRP - $ 0.401556 (-1.6%)
🔴 ADA - $ 0.503206 (-3.0%)
🔴 SOL - $ 46.60 (-5.1%)
🔴 DOGE - $ 0.080988 (-2.6%)
🔴 DOT - $ 9.63 (-3.6%)
🔴 AVAX - $ 26.11 (-8.3%)
🟢 TRX - $ 0.082655 (+2.0%)
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🇺🇸FTX CEO to donate up to $1 billion in US presidential election
💰The head of the FTX cryptocurrency exchange Sam Bankman-Fried has revealed that he intends to fund the 2024 US presidential election. The planned budget is between $100 million and $1 billion, Bankman-Fried said on the podcast “What’s Your Problem?” The FTX chief believes that the incumbent President Joe Biden can face off in a rematch with his rival in the last election, Donald Trump.
https://getblock.net/en/news/ftx-ceo-to-donate-up-to-1-billion-in-us-presidential-election/
💰The head of the FTX cryptocurrency exchange Sam Bankman-Fried has revealed that he intends to fund the 2024 US presidential election. The planned budget is between $100 million and $1 billion, Bankman-Fried said on the podcast “What’s Your Problem?” The FTX chief believes that the incumbent President Joe Biden can face off in a rematch with his rival in the last election, Donald Trump.
https://getblock.net/en/news/ftx-ceo-to-donate-up-to-1-billion-in-us-presidential-election/
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