12 May: Price Is A Liar


“The secret of success is constancy of purpose.”
-Benjamin Disraeli

--NO TAX ON CRYPTO PROFITS!-- 

Happy Thursday Folks! When it's bad, it's really bad in Crypto. However, the games isn't over, this isn't the end of Bitcoin, all is not lost unless you've sold. As Mark Yusko has said many times before "Price is a Liar" - so much is happening at the same time it's getting lost in the noise. Regulation and Adoption is continuing and developers are building. Global Blockchain funding hit $9B for the seventh consecutive quarter. Shift your focus and you will see that in years to come many will look back on this time the way they did 2013, 2017, 2020, etc. Tune in to The Wolf of All Streets video below!

MOST COVERED

BREAKING

  • Chinese high court rules Bitcoin has economic value and is legally protected (Finbold | BIC)

LUNA/STABLECOIN SAGA

  • Fitch Says Terra Collapse Will Accelerate Calls for Regulation (UToday)
  • Binance will delist LUNA/USDT contracts as price falls below 0.005 (Cointelegraph)
  • Untethered: Here’s everything you need to know about TerraUSD, Tether and other stablecoins (Cointelegraph)
  • Billions of Luna minted as supply grows 20-fold in four days (TB)
  • $1M LUNA 3 Days Ago is Now $185: Price Crashes Far Below the ICO Price (CryptoPotato)
  • Crypto’s Long Night: Market Bleeds As LUNA Nears $0 (Forbes)
  • Luna token supply hits 25 billion — up by nearly 24 billion today (TB)
  • Who Killed Luna? (Trustnodes)
  • Crypto Exchange Gemini Responds To Rumors That It Orchestrated UST Crash (Bitcoinist)

CRYPTO MARKET WATCH

  • Bitcoin’s price collapse eats away at the wealth of major crypto billionaires (Finbold)
  • More than $200 billion erased from entire crypto market in a day as sell-off intensifies (CNBC)
  • MicroStrategy's bitcoin bet turns negative, triggering $330 million paper loss (TB | CryptoPotato | Bitcoinist)
  • Stocks and Bitcoin fall in unison as inflation numbers spook markets (Finbold)

BITCOIN

  • Will Bitcoin (BTC) Hold the Confluence Floor Model at $27,688? (BIC)
  • Bitcoin fights to hold $28,000 as experts project more red ahead (Finbold)
  • Bitcoin Hits Lowest Price Since 2020 as Ethereum Nears $2,000 (Decrypt)
  • Bitcoin Risks Plunging To $20,000 As LUNA Fatally Crashes To $0 — Over $1.28 Billion Liquidated In Hours (ZyCrypto)
  • Bitcoin ‘kisses’ $24K realized price after 2nd highest seller losses in history (Cointelegraph)
  • Bitcoin Drops To $26K As Crypto Sell-Off Continues – Will The Slide Approach $25K? (Bitcoinist | UToday)
  • Bitcoin tumbles below $30,000 as negative sentiment spreads in wake of UST de-peg (TB)

WHAT SETS BITCOIN APART FROM OTHER CRYPTOCURRENCIES

ALTCOINS

  • Ether plunges 13% while Bitcoin pushes BTC dominance to 2022 high — more pain ahead? (Cointelegraph)
  • Dogecoin eyes 'oversold' bounce as DOGE price gives up 90% of yearly gains (Cointelegraph)
  • Shiba Inu Becomes Second-Most Held Cryptocurrency by Top-100 Ethereum Wallets (BIC)
  • XRP Breaks Down and Approaches 2021 Lows – Multi-Coin Analysis (BIC)
  • ApeCoin rebounds after APE price crashes 80% in two weeks: dead cat bounce or bottom? (Cointelegraph)
  • WAVES Is at Risk of Breaking Down From 679-Day Support Line (BIC)
  • Meme Stocks Surge Despite Market Selloff: GameStop Trading Halted, AMC Jumps 15% (Forbes)

CBDCs/STABLECOINS

  • US Treasury Secretary Yellen: a CBDC Might Diminish the Proliferation of Stablecoins, but Both can Coexist (EWN)

ANALYST'S CORNER

  • Michael van de Poppe: Bitcoin could target $32K, says trader as LUNA crashes below one penny (Cointelegraph)
  • Charles Hoskinson: Cardano’s CEO Predicts How Long This Crypto Winter Will Last (CryptoPotato)
  • Raoul Pal: How long will the crypto bear market last? Raoul Pal's macro analysis (Cointelegraph | CryptoPotato)
  • Santiment: Here Might Be Something to Watch for on Ethereum Price as ETH Dips Under $2K (UToday)
  • Willy Woo: Bitcoin (BTC) Hodlers Capitulating As Stock Market Turmoil Grips BTC: On-Chain Analyst (TDH)

NOTABLE VOICES

  • Michael Saylor: “Bitcoin Price Is Set By Those With More Money,” Says MicroStrategy’s CEO As BTC Struggles Below $30k (ZyCrypto)
  • Charles Hoskinson: Global economy ‘will collapse’ as it ‘cannot sustain itself’ (Finbold | Decrypt)

CEFI/DEFI

  • Anchor contributors consider cutting UST yield to 4% from 19.5% (TB)

ETFs/FUTURES

  • Grayscale Met With The SEC, Tried To Convince Them To Turn The GBTC Into An ETF (NewsBTC)
  • Binance Futures delists coin-margined LUNA perpetual contracts (Cointelegraph)
  • Why the world needs a spot Bitcoin ETF in the US: 21Shares CEO explains (Cointelegraph)
  • Australia's First Bitcoin and Ether ETFs Flop, Here's Why (UToday | Blockworks | TB)

MINING

  • Stock Prices of Bitcoin Mining Companies Tumble Amid Broader Market Downturn (CryptoPotato)

WEB 3

  • Chainsmokers Share New Album Royalties With Fans via NFT Drop in Music Industry First (Decrypt)
  • NFTs Started ‘a Digital Art Renaissance.’ It’s Far From Over (Decrypt)
  • NFT prices crumble as crypto market enters downturn (TB)
  • Azuki NFTs Creator to Refund Investors After Admitting to Multi-Million-Dollar ‘Rug Pulls’ (BIC)
  • Madonna nude NFT launch triggers a mix of emotions from the community (Cointelegraph)
  • Sorare to Launch Major League Baseball Ethereum NFT Fantasy Game (Decrypt)
  • How Web3 is Revolutionizing the Film Industry (Decrypt)

BLOCKCHAINS

  • Ethereum Gas Costs Are Spiking as Lending Platforms Report Increased Gas Consumption (UToday)
  • PancakeSwap governance proposal set to cap CAKE supply at 750M (Cointelegraph)
  • How blockchain archives can change how we record history in wartime (Cointelegraph)

EXCHANGES

  • As Coinbase Stock Drops, Crypto Exchange Preps Insurance Capital Raise (Blockworks)
  • Bitcoin Coinbase Premium Dumps to 3 Year Low (CryptoPotato)
  • Bitcoin Transfers to Exchanges Spikes to Near All Time High (Trustnodes)

MINING

  • Bitcoin miner Hut 8 reports C$53.3 million in Q1 2022 revenues after increasing hardware fleet (TB)
  • As Bitcoin Mining Difficulty Hits 5% ATH, Majority Of Miners Shift To Ethereum (Bitcoinist)

LEGISLATION/REGULATION

  • FSB Chair: Crypto Markets Could Soon Threaten Global Financial Stability (CryptoPotato)
  • Treasury Secretary Yellen Says Stablecoins Pose Financial Stability Risks, Cites Collapse of TerraUSD (UST) (TDH)
  • Yellen says the stablecoin market is still too small to pose systemic risk (TB | Cointelegraph)
  • Crypto needs regulation but should be done right: Report and database (Cointelegraph)
  • SEC Chief Reiterates View That Crypto Assets Are Securities (CryptoPotato)
  • FTX’s CFTC proposal faces Congressional grilling, attacks from CME (TB)
  • Global Crypto Regulator Likely to Emerge in 2023 (UToday | Finbold)
  • Leaked report: South Korea to establish crypto framework by 2024 (Cointelegraph)
  • Brexit May Prove a Blessing in Disguise for UK Crypto Industry (BIC)

FOLLOW DAT MONEY

  • Global blockchain funding hits a record $9 billion growing for the 7th consecutive quarter (Finbold)
  • Former Top Regulators Chris Giancarlo, Brian Brooks Invest In Crypto Risk Monitoring Startup Solidus Labs (Forbes)
  • Aurora launches $90 million developer fund to boost DeFi on NEAR Protocol (TB | EWN)
  • 6th Man Ventures is raising $145 million for a second crypto fund (TB)
  • Chainalysis announces $170M funding round, platform now valued at $8.6 billion (Cointelegraph)

THE BAD

  • Almost All $1.7B Crypto Stolen In 2022 Has Come From DeFi: Chainalysis (Decrypt)

PODCASTS

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TheCryptoCurator
TheCryptoCurator

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The Crypto Curator
The Crypto Curator

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