Bitcoin
The momentum has brought bitcoin out of the narrow range in which it has been trading for the past two weeks. In the coming days, the asset is likely to correct and test the $31 00 level as support. After that, there are prospects of growth up to $34 000 and higher. This will only happen if buyers dominate the market.
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-31052022
#BTC #Analytics
The momentum has brought bitcoin out of the narrow range in which it has been trading for the past two weeks. In the coming days, the asset is likely to correct and test the $31 00 level as support. After that, there are prospects of growth up to $34 000 and higher. This will only happen if buyers dominate the market.
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-31052022
#BTC #Analytics
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☝Survey: more than 60% of retail investors used borrowed funds to buy cryptocurrencies
📊More than two-thirds of the investors surveyed borrowed money to buy cryptocurrencies. 64% of crypto investors used one or more loans to get the amount they needed. This is evidenced by data from an online survey of 2000 people conducted in autumn 2021 by KIS Finance.
https://getblock.net/en/news/survey-more-than-60-of-retail-investors-used-borrowed-funds-to-buy-cryptocurrencies
📊More than two-thirds of the investors surveyed borrowed money to buy cryptocurrencies. 64% of crypto investors used one or more loans to get the amount they needed. This is evidenced by data from an online survey of 2000 people conducted in autumn 2021 by KIS Finance.
https://getblock.net/en/news/survey-more-than-60-of-retail-investors-used-borrowed-funds-to-buy-cryptocurrencies
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📉Interest in NFT decreased by 74% since the beginning of the year
🖼The collapse of the cryptocurrency market has led to a 74% drop in global interest in non-fungible tokens (NFTs) since the beginning of 2022. This is reported by Be[In]Crypto, citing its own research and Google Trends data. In addition, the total monthly sales volumes on major NFT marketplaces fell by 75% to $4 billion in May compared to January. The figure reached an all-time high of $16,54 billion at the beginning of the year. The most popular collections were Bored Ape Yacht Club (BAYC), Mutant Ape Yacht Club (MAYC), and Axie Infinity.
https://getblock.net/en/news/interest-in-nft-decreased-by-74-since-the-beginning-of-the-year
🖼The collapse of the cryptocurrency market has led to a 74% drop in global interest in non-fungible tokens (NFTs) since the beginning of 2022. This is reported by Be[In]Crypto, citing its own research and Google Trends data. In addition, the total monthly sales volumes on major NFT marketplaces fell by 75% to $4 billion in May compared to January. The figure reached an all-time high of $16,54 billion at the beginning of the year. The most popular collections were Bored Ape Yacht Club (BAYC), Mutant Ape Yacht Club (MAYC), and Axie Infinity.
https://getblock.net/en/news/interest-in-nft-decreased-by-74-since-the-beginning-of-the-year
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⚡Lightning Network capacity exceeded 3 900 BTC
📈The capacity of the Lightning Network (LN) has reached an all-time high of 3 915,776 BTC ($120 million as of May 30), according to Bitcoin Visuals. On April 18, there was a drop in LN throughput, which fell by 7,7% from 3 687,051 to 3 402,273 BTC in just a week. However, the figure recovered on May 2, reaching 3 718,351 BTC.
https://getblock.net/en/news/lightning-network-capacity-exceeded-3-900-btc
📈The capacity of the Lightning Network (LN) has reached an all-time high of 3 915,776 BTC ($120 million as of May 30), according to Bitcoin Visuals. On April 18, there was a drop in LN throughput, which fell by 7,7% from 3 687,051 to 3 402,273 BTC in just a week. However, the figure recovered on May 2, reaching 3 718,351 BTC.
https://getblock.net/en/news/lightning-network-capacity-exceeded-3-900-btc
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❗Analysts reported Celsius Network’s involvement in Terra’s collapse
⛓Analytics firm Nansen has conducted an investigation, which resulted in a claim that the Celsius Network, a DeFi lending platform, was involved in the collapse of the Terra (LUNA) ecosystem. The experts stressed that the depegging of the TerraUSD (UST) stablecoin from the US dollar cannot be attributed to a single attacker, but rather to the actions of a small number of crypto market players. To do so, the experts analyzed blockchain data between May 7 and May 11.
https://getblock.net/news/analysts-reported-celsius-networks-involvement-in-terras-collapse/
⛓Analytics firm Nansen has conducted an investigation, which resulted in a claim that the Celsius Network, a DeFi lending platform, was involved in the collapse of the Terra (LUNA) ecosystem. The experts stressed that the depegging of the TerraUSD (UST) stablecoin from the US dollar cannot be attributed to a single attacker, but rather to the actions of a small number of crypto market players. To do so, the experts analyzed blockchain data between May 7 and May 11.
https://getblock.net/news/analysts-reported-celsius-networks-involvement-in-terras-collapse/
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⚠️US regulator warned of potential USDT vulnerability
🗣The Tether (USDT) stablecoin may not be a safe means of storing capital. According to Michael Hsu, the head of the US Office of the Comptroller of the Currency (OCC), without regulation USDT has the same vulnerability as the previously collapsed algorithmic stablecoin TerraUSD (UST).
https://getblock.net/en/news/us-regulator-warned-of-potential-usdt-vulnerability/
🗣The Tether (USDT) stablecoin may not be a safe means of storing capital. According to Michael Hsu, the head of the US Office of the Comptroller of the Currency (OCC), without regulation USDT has the same vulnerability as the previously collapsed algorithmic stablecoin TerraUSD (UST).
https://getblock.net/en/news/us-regulator-warned-of-potential-usdt-vulnerability/
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📈LUNA token price raised by 2500% after listing on Binance
💰On May 31, at 09:00 Moscow time, the new LUNA token was listed on the Binance crypto exchange. The initial price was about $1. Shortly after the listing, the value of LUNA reached a peak of $25 (+2500%), but then began to drop rapidly and by 09:30 it was down to $8,75 per 1 LUNA.
https://getblock.net/en/news/luna-token-price-raised-by-2500-after-listing-on-binance
💰On May 31, at 09:00 Moscow time, the new LUNA token was listed on the Binance crypto exchange. The initial price was about $1. Shortly after the listing, the value of LUNA reached a peak of $25 (+2500%), but then began to drop rapidly and by 09:30 it was down to $8,75 per 1 LUNA.
https://getblock.net/en/news/luna-token-price-raised-by-2500-after-listing-on-binance
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👜Prada to release its own NFT collection
🖼Italian brand Prada has announced the release of its Timecapsule NFT collection based on the Ethereum fork called Quorum. The project was implemented jointly with artist Cassius Hirst and blockchain consortium Aura.
https://getblock.net/en/news/prada-to-release-its-own-nft-collection
🖼Italian brand Prada has announced the release of its Timecapsule NFT collection based on the Ethereum fork called Quorum. The project was implemented jointly with artist Cassius Hirst and blockchain consortium Aura.
https://getblock.net/en/news/prada-to-release-its-own-nft-collection
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💡Insider: Terraform Labs CEO develops new stablecoin on Terra 2.0
💻Terraform Labs (TFL) founder Do Kwon is working on a new algorithmic stablecoin on the Terra 2.0 blockchain. This was reported on Twitter by Terra Research Forum user FatMan, citing “a verified insider” close to TFL.
https://getblock.net/en/news/insider-terraform-labs-ceo-develops-new-stablecoin-on-terra-20
💻Terraform Labs (TFL) founder Do Kwon is working on a new algorithmic stablecoin on the Terra 2.0 blockchain. This was reported on Twitter by Terra Research Forum user FatMan, citing “a verified insider” close to TFL.
https://getblock.net/en/news/insider-terraform-labs-ceo-develops-new-stablecoin-on-terra-20
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👾Mirror Protocol app on the old Terra blockchain lost $92 million in hacks
💸Mirror Protocol, a decentralized application (dApp), faced two major attacks that resulted in a loss of $92 million. The first attack, as reported by Terra Research Forum user FatMan, occurred in the fall of 2021 and the second in May this year.
https://getblock.net/en/news/mirror-protocol-app-on-the-old-terra-blockchain-lost-92-million-in-hacks/
💸Mirror Protocol, a decentralized application (dApp), faced two major attacks that resulted in a loss of $92 million. The first attack, as reported by Terra Research Forum user FatMan, occurred in the fall of 2021 and the second in May this year.
https://getblock.net/en/news/mirror-protocol-app-on-the-old-terra-blockchain-lost-92-million-in-hacks/
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⚖️Moscow court seized the crypto wallet of the alleged administrator of the Hydra darknet marketplace
🇷🇺A Moscow court has seized the cryptocurrency wallet of the alleged administrator of the Hydra darknet marketplace, Dmitry Pavlov. The suspect stated that he is cooperating with the investigation, but he refused to provide login details for the wallet, according to the Mash Telegram channel. The investigation suggests that there may be hundreds of millions of dollars worth of bitcoins on the blocked address.
https://getblock.net/en/news/moscow-court-seized-the-crypto-wallet-of-the-alleged-administrator-of-the-hydra-darknet-marketplace
🇷🇺A Moscow court has seized the cryptocurrency wallet of the alleged administrator of the Hydra darknet marketplace, Dmitry Pavlov. The suspect stated that he is cooperating with the investigation, but he refused to provide login details for the wallet, according to the Mash Telegram channel. The investigation suggests that there may be hundreds of millions of dollars worth of bitcoins on the blocked address.
https://getblock.net/en/news/moscow-court-seized-the-crypto-wallet-of-the-alleged-administrator-of-the-hydra-darknet-marketplace
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📝Russian bankers discussed draft law on crypto regulation with Finance Ministry
🏦The Association of Russian Banks (ARB) has discussed with the Ministry of Finance the draft law on the regulation of cryptocurrencies. During the meeting, the issues of setting areas of responsibility for financial institutions and other market participants were considered, the ARB’s press service reports.
https://getblock.net/en/news/russian-bankers-discussed-draft-law-on-crypto-regulation-with-finance-ministry
🏦The Association of Russian Banks (ARB) has discussed with the Ministry of Finance the draft law on the regulation of cryptocurrencies. During the meeting, the issues of setting areas of responsibility for financial institutions and other market participants were considered, the ARB’s press service reports.
https://getblock.net/en/news/russian-bankers-discussed-draft-law-on-crypto-regulation-with-finance-ministry
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💳️Mastercard CEO: national cryptocurrencies will be able to replace SWIFT
🗣Mastercard CEO Michael Miebach has said that the SWIFT cross-border payment system may be replaced by central bank digital currencies (CBDCs). At the World Economic Forum in Davos, Miebach was the only one to respond in the negative to a question about the viability of SWIFT, CoinDesk reports. In his view, the system of cross-border payment may cease to exist in 5 years.
https://getblock.net/en/news/mastercard-ceo-national-cryptocurrencies-will-be-able-to-replace-swift
🗣Mastercard CEO Michael Miebach has said that the SWIFT cross-border payment system may be replaced by central bank digital currencies (CBDCs). At the World Economic Forum in Davos, Miebach was the only one to respond in the negative to a question about the viability of SWIFT, CoinDesk reports. In his view, the system of cross-border payment may cease to exist in 5 years.
https://getblock.net/en/news/mastercard-ceo-national-cryptocurrencies-will-be-able-to-replace-swift
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💥 Cryptocurrency price dynamics 01.06.2022💥
Almost all crypto assets in the top 10 by market capitalization are in the "red zone" today:
⬆️ Tron showed the biggest gain overnight: +3.4%;
⬇️ Avalanche showed the biggest decrease: -7.2%.
🔴 BTC - $ 31,649.68 (-0.1%)
🔴 ETH - $ 1,936.95 (-2.2%)
🔴 BNB - $ 318.17 (-0.3%)
🔴 ADA - $ 0.603956 (-7.0%)
🔴 XRP - $ 0.421559 (-0.9%)
🔴 SOL - $ 44.81 (-5.6%)
🔴 DOGE - $ 0.080988 (-2.6%)
🔴 DOT - $ 10.33 (-1.3%)
🟢 TRX - $ 0.083148 (+3.4%)
🔴 AVAX - $ 25.64 (-7.2%)
Almost all crypto assets in the top 10 by market capitalization are in the "red zone" today:
⬆️ Tron showed the biggest gain overnight: +3.4%;
⬇️ Avalanche showed the biggest decrease: -7.2%.
🔴 BTC - $ 31,649.68 (-0.1%)
🔴 ETH - $ 1,936.95 (-2.2%)
🔴 BNB - $ 318.17 (-0.3%)
🔴 ADA - $ 0.603956 (-7.0%)
🔴 XRP - $ 0.421559 (-0.9%)
🔴 SOL - $ 44.81 (-5.6%)
🔴 DOGE - $ 0.080988 (-2.6%)
🔴 DOT - $ 10.33 (-1.3%)
🟢 TRX - $ 0.083148 (+3.4%)
🔴 AVAX - $ 25.64 (-7.2%)
⚠️CryptoLaw chief warned Elon Musk of the possible consequences of Dogecoin promotion
🗣CryptoLaw chief and lawyer John Deaton has warned Elon Musk in his Twitter post about the possible consequences of the meme cryptocurrency Dogecoin (DOGE) promotion. Deaton suggests that the US Securities and Exchange Commission (SEC) may recognize DOGE as security and link the asset to Tesla and SpaceX, which Musk heads.
https://getblock.net/en/news/cryptolaw-chief-warned-elon-musk-of-the-possible-consequences-of-dogecoin-promotion
🗣CryptoLaw chief and lawyer John Deaton has warned Elon Musk in his Twitter post about the possible consequences of the meme cryptocurrency Dogecoin (DOGE) promotion. Deaton suggests that the US Securities and Exchange Commission (SEC) may recognize DOGE as security and link the asset to Tesla and SpaceX, which Musk heads.
https://getblock.net/en/news/cryptolaw-chief-warned-elon-musk-of-the-possible-consequences-of-dogecoin-promotion
Bitcoin
Bitcoin price moved into a wider range of $31-34 000. The asset will need time to accumulate strength after the recent momentum. Short-term decreases to $31 000 are likely. If this support level fails - bitcoin will return to the narrow range, in which it has been trading in recent weeks.
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-01062022
#BTC #Analytics
Bitcoin price moved into a wider range of $31-34 000. The asset will need time to accumulate strength after the recent momentum. Short-term decreases to $31 000 are likely. If this support level fails - bitcoin will return to the narrow range, in which it has been trading in recent weeks.
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-01062022
#BTC #Analytics
📈Celsius CEO predicted rebound of the crypto market by the end of the week
📊Celsius Network CEO Alex Mashinsky said that he believes the cryptocurrency market will recover soon. In an interview with Kitco News, Mashinsky stressed that even inflation is not a long-term problem for digital assets. He also believes that a rebound in the cryptocurrency market will occur over the coming weekend and continue into next week.
https://getblock.net/en/news/celsius-ceo-predicted-rebound-of-the-crypto-market-by-the-end-of-the-week
📊Celsius Network CEO Alex Mashinsky said that he believes the cryptocurrency market will recover soon. In an interview with Kitco News, Mashinsky stressed that even inflation is not a long-term problem for digital assets. He also believes that a rebound in the cryptocurrency market will occur over the coming weekend and continue into next week.
https://getblock.net/en/news/celsius-ceo-predicted-rebound-of-the-crypto-market-by-the-end-of-the-week
📈Cardano rate raised by 30% per day ahead of Vasil hard fork
💰The Cardano (ADA) rate increased by 30% per day, with the token trading at $0,63 as of 01:30 PM UTC, according to Binance. This may be related to the upcoming Vasil hard fork. The upgrade is scheduled to go live on the public testnet on June 2 and on the mainnet on June 29. The token ranked sixth in the ranking of cryptocurrencies with a market capitalization of $22,2 billion, ahead of Ripple (XRP), according to CoinGecko. However, despite this strong growth, ADA is still 78% below its all-time high of $3,10 recorded in September 2021.
https://getblock.net/en/news/cardano-rate-raised-by-30-per-day-ahead-of-vasil-hard-fork/
💰The Cardano (ADA) rate increased by 30% per day, with the token trading at $0,63 as of 01:30 PM UTC, according to Binance. This may be related to the upcoming Vasil hard fork. The upgrade is scheduled to go live on the public testnet on June 2 and on the mainnet on June 29. The token ranked sixth in the ranking of cryptocurrencies with a market capitalization of $22,2 billion, ahead of Ripple (XRP), according to CoinGecko. However, despite this strong growth, ADA is still 78% below its all-time high of $3,10 recorded in September 2021.
https://getblock.net/en/news/cardano-rate-raised-by-30-per-day-ahead-of-vasil-hard-fork/
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🦷UK dentistry bought plot in the metaverse for virtual practice
🇬🇧The Dental Design Studio, a British dental practice chain, has bought a plot in The Sandbox metaverse. Although patients can not get real dental work done, the company sees prospects for its existence in The Sandbox. The company plans to put interactive images of its offices on the plot. In the metaverse, patients will be able to visit a dentist, get a consultation, talk to the staff and watch dental hygiene videos.
https://getblock.net/en/news/uk-dentistry-bought-plot-in-the-metaverse-for-virtual-practice/
🇬🇧The Dental Design Studio, a British dental practice chain, has bought a plot in The Sandbox metaverse. Although patients can not get real dental work done, the company sees prospects for its existence in The Sandbox. The company plans to put interactive images of its offices on the plot. In the metaverse, patients will be able to visit a dentist, get a consultation, talk to the staff and watch dental hygiene videos.
https://getblock.net/en/news/uk-dentistry-bought-plot-in-the-metaverse-for-virtual-practice/
✅OKX, LBank, and MEXC crypto exchanges to list the Optimism governance token
📊On May 31, OKX, LBank, and MEXC exchanges announced the listing of the Optimism (OP) project governance token. Trading will begin in the OP/USDT pair when the liquidity is met, according to representatives of the cryptocurrency exchanges. The Optimism team has not yet specified listing details.
https://getblock.net/en/news/okx-lbank-and-mexc-crypto-exchanges-to-list-the-optimism-governance-token
📊On May 31, OKX, LBank, and MEXC exchanges announced the listing of the Optimism (OP) project governance token. Trading will begin in the OP/USDT pair when the liquidity is met, according to representatives of the cryptocurrency exchanges. The Optimism team has not yet specified listing details.
https://getblock.net/en/news/okx-lbank-and-mexc-crypto-exchanges-to-list-the-optimism-governance-token
💻Ethereum developers will test blockchain transition to PoS
📢The Ethereum team will conduct a blockchain merge on the Proof-of-Work (PoW) and Proof-of-Stake (PoS) consensus algorithms of the Ropsten test network. This was announced on Twitter by developer Tim Beiko. He added that the release of the “Merge” upgrade, after which Ethereum will switch to PoS, is expected around June 8.
https://getblock.net/en/news/ethereum-developers-will-test-blockchain-transition-to-pos
📢The Ethereum team will conduct a blockchain merge on the Proof-of-Work (PoW) and Proof-of-Stake (PoS) consensus algorithms of the Ropsten test network. This was announced on Twitter by developer Tim Beiko. He added that the release of the “Merge” upgrade, after which Ethereum will switch to PoS, is expected around June 8.
https://getblock.net/en/news/ethereum-developers-will-test-blockchain-transition-to-pos