The state is not you friend. They aren't going to help this industry or regulate it fairly. They aren't going to do the right thing. They punish projects for competing against tradfi banks. Terra and UST will only be used as an excuse to attack not just our industry, but your fundamental liberty. Take a…
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submitted by /u/surffreak336 [link] [comments]
There's a run on Coinbase. Hysteria in r/Coinbase, you'd think there's blood running in the streets. As I myself can attest, many people are unable to get their USD or coins out of Coinbase. Mysterious error messages happen if you try. (I can put money in and buy though.) Why? This is speculation but you…
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Several major financial services firms, including Citi, Wells Fargo, and BNY Mellon, are investing in institutional digital asset technology provider Talos, which aims to remove “the barriers to wide-scale crypto adoption.” The latest funding round values the company at $1.25 billion. Citi, Wells Fargo, BNY Mellon Participate in $105M Funding Round for Digital Asset Tech […]
Projects associated with Terra suffer losses of more than 80% as contagion spreads. Meanwhile, Maker (DAI) gets a boost as traders look for other decentralized stablecoin options.
Rostin Behnam and Gary Gensler make their positions clear in keynote addresses at the annual meeting of the ISDA with Sam Bankman-Fried in attendance.
I'm so sick of people being tricked into buying dips and betting their life on crypto. You need to understand that these founders that created these coins don't actually care about the coins they created and they certainly don't care about you losing your money. These founders sold their initial tokens to VC early for…
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$160 million of which was just from TerraLuna. 1 billi gone In the past 24 hours , 358,222 traders were liquidated, the total liquidations come in at $1.01 billion. The largest single liquidation order happened on Binance – ETHUSDT value of $17.77M. As we know shorts are not the only ones getting destroyed by using…
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Cryptocurrencies’ values have been diving due to the current bloodbath in the crypto market. Likewise, the largest and most popular cryptocurrency, Bitcoin, also continues to lose its value. The coin has consecutively dropped since the year 2022 has turned. Per the statistics provided by Tradingview.com, the market value of the giant Bitcoin was fledging around $883.89 billion on January 1. However, after the continuous downtrend in the value, its market capitalization as of May 10 stands around $568.55 billion. Related Reading | Market Downtrend Trigger Bitcoin Inflows From Institutional Investors It means that the Bitcoin market cap has lost more than 35% by outflowing $315 billion since the beginning of the year. The DeFi asset’s drop in price has similarly declined the DeFi market cap. Meanwhile, Bitcoin faced an ever-decreasing price falling from $46,726 on January 1 and trading at $29,865 as of May 11. In other words, the BTC price at the time of writing had lost 35%. Or say the price has decreased by $17,861 compared to its value before the year started. Crypto Bloodbath Occurs Amidst Bitcoin’s Growing Adoption Bitcoin’s inability to capitalize on the crypto adoption of 2022 across the global industries, became the reason for these year-to-date (YTD) losses. It also encircles the recent adoption of Bitcoin in the Central African Republic (CAR), the second country after El Salvador to make Bitcoin a legal tender. In terms of the adoption, the Bitcoin network has reportedly installed 3,000 ATMs in 2022 where users can buy and sell Bitcoins. The number of such machines is 37,338 as of May 11. Players in the industry put their efforts in 2021 to spread the growth of Bitcoin, installing over 10,000 ATM machines globally. It is not only Bitcoin that recorded increasing adoption; nearly 700 new cryptocurrencies and 30 crypto exchanges have rolled out solely in March. At the time of writing this news piece, 19,384 cryptocurrencies are circulating in 525 total crypto exchanges. Cryptocurrency Is Now Linked With Stocks Cryptocurrencies’ relationship with stocks has grown up since many financial institutions have adopted blockchain technology over the past year. Traditional financial markets, alongside the crypto industry, have been seeing a big sell-off due to tightening monetary policies of the Federal Reserve spreading fear. Therefore, Wall Street is having difficulty, and its index has decreased by 3.75%. Related Reading | Bitcoin Long-Term Holders Start Capitulating Amid Panic Bitcoin’s price lastly went below $30,000 in July 2021 when its value reached the $29,301 mark before rebounding. “Bitcoin could perhaps receive a mini-bounce near $35,000, but unless we break the trend line at around $37,000, I’m predicting for $29,000 in the coming weeks or week,” said Wendy O, a crypto analyst, in a new social media video. Many investors called BTC the gold of the digital era and a potential safety investment posing inflation hedge. But, seeing the volatile price actions of cryptocurrencies, the market doesn’t consider virtual assets as a reliable value repository. Featured image from Pixabay and chart from TradingView.com
“The same rules that apply to investments in the physical world continue to apply to investments in virtual worlds,” said the regulators.
