📊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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Bitcoin
On the hourly timeframe, a descending triangle pattern can be seen. If it materializes, the bitcoin rate is likely to fall below $29 000. As the asset is locked in a narrower range, impulsive movements both upward and downward can be expected.
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-26052022
#BTC #Analytics
On the hourly timeframe, a descending triangle pattern can be seen. If it materializes, the bitcoin rate is likely to fall below $29 000. As the asset is locked in a narrower range, impulsive movements both upward and downward can be expected.
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-26052022
#BTC #Analytics
📝South Korean regulator to audit Terra
🔍The Financial Supervisory Service (FSS) of South Korea will conduct an on-site audit of Terraform Labs and financial services related to the TerraUSD (UST) stablecoin and its backing token LUNA. The FSS also said it intends to bring in a third-party organization to enhance monitoring of the cryptocurrency market. The regulator plans to introduce a classification of digital assets by types of risks and analyze the “unfair” operating conditions of local cryptocurrency exchanges.
https://getblock.net/en/news/south-korean-regulator-to-audit-terra
🔍The Financial Supervisory Service (FSS) of South Korea will conduct an on-site audit of Terraform Labs and financial services related to the TerraUSD (UST) stablecoin and its backing token LUNA. The FSS also said it intends to bring in a third-party organization to enhance monitoring of the cryptocurrency market. The regulator plans to introduce a classification of digital assets by types of risks and analyze the “unfair” operating conditions of local cryptocurrency exchanges.
https://getblock.net/en/news/south-korean-regulator-to-audit-terra
👍Kawasaki will start using augmented reality technology from Microsoft
🇯🇵Japanese technology corporation Kawasaki will start using Microsoft’s “industrial metaverse” technology. The company’s employees will wear a HoloLens headset with augmented reality (AR) technology, CNBC reports. The device overlays digital images on top of real things.
https://getblock.net/en/news/kawasaki-will-start-using-augmented-reality-technology-from-microsoft/
🇯🇵Japanese technology corporation Kawasaki will start using Microsoft’s “industrial metaverse” technology. The company’s employees will wear a HoloLens headset with augmented reality (AR) technology, CNBC reports. The device overlays digital images on top of real things.
https://getblock.net/en/news/kawasaki-will-start-using-augmented-reality-technology-from-microsoft/
🛰SpaceX to launch crypto satellite into low-Earth orbit
👩🚀SpaceX will launch the world’s first nanosatellite on a Falcon 9 rocket to connect blockchain networks and other Web 3.0 protocols. A coffee mug-sized satellite is called Crypto1 and was developed by Cryptostat. According to Cointelegraph, the technology has already been trialed on the International Space Station (ISS), the launch of the satellite will take place on May 25 from the spaceport in Florida, USA.
https://getblock.net/en/news/spacex-to-launch-crypto-satellite-into-low-earth-orbit
👩🚀SpaceX will launch the world’s first nanosatellite on a Falcon 9 rocket to connect blockchain networks and other Web 3.0 protocols. A coffee mug-sized satellite is called Crypto1 and was developed by Cryptostat. According to Cointelegraph, the technology has already been trialed on the International Space Station (ISS), the launch of the satellite will take place on May 25 from the spaceport in Florida, USA.
https://getblock.net/en/news/spacex-to-launch-crypto-satellite-into-low-earth-orbit
💵Andreessen Horowitz raises $4,5 billion to invest in crypto projects
💪Venture capital fund Andreessen Horowitz (a16z) announced a new $4,5 billion fund to support crypto and blockchain companies. This is the fourth a16z fund for this asset class, and its total investment in cryptocurrencies and blockchain has reached $7,6 billion.
https://getblock.net/en/news/andreessen-horowitz-raises-45-billion-to-invest-in-crypto-projects
💪Venture capital fund Andreessen Horowitz (a16z) announced a new $4,5 billion fund to support crypto and blockchain companies. This is the fourth a16z fund for this asset class, and its total investment in cryptocurrencies and blockchain has reached $7,6 billion.
https://getblock.net/en/news/andreessen-horowitz-raises-45-billion-to-invest-in-crypto-projects
☝️Binance and Huobi crypto exchanges supported the launch of the Terra 2.0 network
✅Binance and Huobi cryptocurrency exchanges have announced that they will support the launch of the new Terra 2.0 network. On Twitter, Binance representatives noted that they are in close contact with the blockchain’s developers to work on a recovery plan.
https://getblock.net/en/news/binance-and-huobi-crypto-exchanges-supported-the-launch-of-the-terra-20-network
✅Binance and Huobi cryptocurrency exchanges have announced that they will support the launch of the new Terra 2.0 network. On Twitter, Binance representatives noted that they are in close contact with the blockchain’s developers to work on a recovery plan.
https://getblock.net/en/news/binance-and-huobi-crypto-exchanges-supported-the-launch-of-the-terra-20-network
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📢Alan Howard spoke about the strategy of investing in cryptocurrencies
🤔British billionaire Alan Howard believes that investments in cryptocurrencies should be made “in a highly diversified manner.” As it is an emerging asset class, funds should be directed across the entire ecosystem, he explained. Howard also added that the priority investment areas for his company, BH Digital, are metaverses, games, stablecoins, trading platforms, DeFi, and cross-chain tools.
https://getblock.net/en/news/alan-howard-spoke-about-the-strategy-of-investing-in-cryptocurrencies/
🤔British billionaire Alan Howard believes that investments in cryptocurrencies should be made “in a highly diversified manner.” As it is an emerging asset class, funds should be directed across the entire ecosystem, he explained. Howard also added that the priority investment areas for his company, BH Digital, are metaverses, games, stablecoins, trading platforms, DeFi, and cross-chain tools.
https://getblock.net/en/news/alan-howard-spoke-about-the-strategy-of-investing-in-cryptocurrencies/
💰JPMorgan called the fair value of bitcoin
☝️Analysts at JPMorgan, a financial holding company, said that bitcoin’s fair price is at $38 000 and noted the potential for further growth in the value of the asset and the cryptocurrency market as a whole. This is reported by Business Insider.
https://getblock.net/en/news/jpmorgan-considers-38-000-fair-price-for-bitcoin/
☝️Analysts at JPMorgan, a financial holding company, said that bitcoin’s fair price is at $38 000 and noted the potential for further growth in the value of the asset and the cryptocurrency market as a whole. This is reported by Business Insider.
https://getblock.net/en/news/jpmorgan-considers-38-000-fair-price-for-bitcoin/
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❗️Ethereum network fees hit their low since July 2021
💵On May 24, the average fee per transaction on the Ethereum network was $2,54, this is the lowest since July 2021. Analytics firm Santiment noted that “historically, ETH prices rise after average transactions dip below $5.”
https://getblock.net/en/news/ethereum-network-fees-hit-their-low-since-july-2021
💵On May 24, the average fee per transaction on the Ethereum network was $2,54, this is the lowest since July 2021. Analytics firm Santiment noted that “historically, ETH prices rise after average transactions dip below $5.”
https://getblock.net/en/news/ethereum-network-fees-hit-their-low-since-july-2021
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💥 Contest from GetBlock Magazine
We continue our contest, where everyone can win 100 USDT. Just like last time, you need to predict as accurately as possible the Bitcoin exchange rate as of June 2 at 16:00 (Moscow time) according to the Binance exchange.
What do you need to take part in the contest?
🔹 To participate, you need to subscribe to our Telegram channel
🔹 Write BTC/USDT exchange rate as of June 2, 2022, 16:00 (Moscow time) according to the Binance exchange in the comments below the post. The rate should be specified with the accuracy of 2 decimal places.
➡️ Example: 45095.98
🔹 Only users can participate, no comments from channels are accepted.
🔹 Comments marked "Edited" are out of the contest. If you want to change your prediction, delete the old comment and leave a new one.
🔹 You can't post more than one comment. Participants who will have more than one comment at the time of determining the winner will not participate in the drawing.
🔹 Please do not write anything other than the prediction in the comment. Any comments other than the price prediction will be deleted.
🔹 Responses will be accepted one day before the specified date.
🔹 The participant, whose prediction is the closest to the real rate, either upward or downward, wins. If the predictions coincide, the participant who left his or her comment earlier wins.
🔷 If in 3 days the winner does not get in touch and does not send the wallet for receiving the prize, it goes to the next participant who was the closest to the correct result.
Good luck to everyone! Let's go 😉⬇️
We continue our contest, where everyone can win 100 USDT. Just like last time, you need to predict as accurately as possible the Bitcoin exchange rate as of June 2 at 16:00 (Moscow time) according to the Binance exchange.
What do you need to take part in the contest?
🔹 To participate, you need to subscribe to our Telegram channel
🔹 Write BTC/USDT exchange rate as of June 2, 2022, 16:00 (Moscow time) according to the Binance exchange in the comments below the post. The rate should be specified with the accuracy of 2 decimal places.
➡️ Example: 45095.98
🔹 Only users can participate, no comments from channels are accepted.
🔹 Comments marked "Edited" are out of the contest. If you want to change your prediction, delete the old comment and leave a new one.
🔹 You can't post more than one comment. Participants who will have more than one comment at the time of determining the winner will not participate in the drawing.
🔹 Please do not write anything other than the prediction in the comment. Any comments other than the price prediction will be deleted.
🔹 Responses will be accepted one day before the specified date.
🔹 The participant, whose prediction is the closest to the real rate, either upward or downward, wins. If the predictions coincide, the participant who left his or her comment earlier wins.
🔷 If in 3 days the winner does not get in touch and does not send the wallet for receiving the prize, it goes to the next participant who was the closest to the correct result.
Good luck to everyone! Let's go 😉⬇️
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🚀Bank of Russia accelerated the development of the digital ruble because of sanctions
📢The Bank of Russia announced the launch of a pilot version of the digital ruble project on real transactions and customers in April 2023. The launch had previously been planned for 2024. The accelerated development is linked to anti-Russian sanctions. This is reported by Forbes, citing a speech by the bank’s First Deputy Governor Olga Skorobogatova at a meeting organized by the Association of Russian Banks.
https://getblock.net/en/news/bank-of-russia-accelerated-the-development-of-the-digital-ruble-because-of-sanctions
📢The Bank of Russia announced the launch of a pilot version of the digital ruble project on real transactions and customers in April 2023. The launch had previously been planned for 2024. The accelerated development is linked to anti-Russian sanctions. This is reported by Forbes, citing a speech by the bank’s First Deputy Governor Olga Skorobogatova at a meeting organized by the Association of Russian Banks.
https://getblock.net/en/news/bank-of-russia-accelerated-the-development-of-the-digital-ruble-because-of-sanctions
🇹🇷Media: Turkey to tighten regulation of cryptocurrencies
📝The Turkish authorities are working on tightening legislation in the field of regulation of the cryptocurrency market. Transaction taxes and requirements for foreign companies to register branches in the local market may be introduced.
https://getblock.net/en/news/media-turkey-to-tighten-regulation-of-cryptocurrencies
📝The Turkish authorities are working on tightening legislation in the field of regulation of the cryptocurrency market. Transaction taxes and requirements for foreign companies to register branches in the local market may be introduced.
https://getblock.net/en/news/media-turkey-to-tighten-regulation-of-cryptocurrencies
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✅MetaMask to add Coinbase Pay service to its platform
💪The MetaMask cryptocurrency wallet has announced the integration of Coinbase Pay, a payment service, in the coming weeks. Once it takes place, customers of the decentralized wallet will be able to fund their balances in cryptocurrency using an account on the Coinbase exchange as well as bank cards linked to their account.
https://getblock.net/en/news/metamask-to-add-coinbase-pay-service-to-its-platform
💪The MetaMask cryptocurrency wallet has announced the integration of Coinbase Pay, a payment service, in the coming weeks. Once it takes place, customers of the decentralized wallet will be able to fund their balances in cryptocurrency using an account on the Coinbase exchange as well as bank cards linked to their account.
https://getblock.net/en/news/metamask-to-add-coinbase-pay-service-to-its-platform