Now it's official: May was the worst month in Bitcoin history with a 35% drop. Cryptocurrency market capitalization decreased by $ 935 billion π±
Yesterday's recovery in BTC to $ 37,000 gave altcoins a good boost. Ethereum, Cardano, BNB, XRP and even DOGE have grown well. The market shows that buyers have a great interest in altcoins specifically, based on a higher profitability π€
Analysts continue to paint a picture of an imminent bullish reversal. Arguments: miners and hodlers accumulate BTC, only market newcomers who have entered the highs sell them. Also, many are waiting for the recovery of institutional demand through the purchase of shares of the Grayscale crypto fund. It would be nice π€
πΉ Top 3 in 24 hours:
Kusama - $ 367.84 (β 20.09%)
Aave - $ 381.21 (β 18.46%)
THORChain - $ 12.44 (β 15.54%):)
Yesterday's recovery in BTC to $ 37,000 gave altcoins a good boost. Ethereum, Cardano, BNB, XRP and even DOGE have grown well. The market shows that buyers have a great interest in altcoins specifically, based on a higher profitability π€
Analysts continue to paint a picture of an imminent bullish reversal. Arguments: miners and hodlers accumulate BTC, only market newcomers who have entered the highs sell them. Also, many are waiting for the recovery of institutional demand through the purchase of shares of the Grayscale crypto fund. It would be nice π€
πΉ Top 3 in 24 hours:
Kusama - $ 367.84 (β 20.09%)
Aave - $ 381.21 (β 18.46%)
THORChain - $ 12.44 (β 15.54%):)
Ray Dalio: the digital yuan will become a reserve currency instead of the dollar π€¨
According to billionaire, founder of Bridgewater Associates, Ray Dalio, the United States is losing to China in the race for digital national currencies.
He believes that over time, the crypto-yuan will take the place of the dollar as a reserve currency. China is now the world center of trade, and the United States is only engaged in printing money, increasing its own national debt:
"A lot has to do with what China is doing. It has to do with what the dollar is doing."
Recall that China is already testing the digital yuan in full growth, and the Fed is just going to work out the issue of the digital dollar π΅
According to billionaire, founder of Bridgewater Associates, Ray Dalio, the United States is losing to China in the race for digital national currencies.
He believes that over time, the crypto-yuan will take the place of the dollar as a reserve currency. China is now the world center of trade, and the United States is only engaged in printing money, increasing its own national debt:
"A lot has to do with what China is doing. It has to do with what the dollar is doing."
Recall that China is already testing the digital yuan in full growth, and the Fed is just going to work out the issue of the digital dollar π΅
πΈ The Chinese authorities will give away $ 6.2 million (40 million digital yuan) to Beijing residents as part of the next digital yuan test.
Each participant will receive 200 digital coins (~ $ 31).
To participate, it is enough to download the corresponding applications - this is how the authorities introduce the digital yuan among their citizens.
China is winning crypto so far.
Each participant will receive 200 digital coins (~ $ 31).
To participate, it is enough to download the corresponding applications - this is how the authorities introduce the digital yuan among their citizens.
China is winning crypto so far.
π Elon Musk started writing messages about Bitcoin again, posting a meme with the words of Linkin Park's song βIn the Endβ.
Musk's tweet was accompanied by the tag "Bitcoin" and emoji with a broken heart. The cryptocurrency reacted with a decline of more than $ 1,000 within an hour.
A little later, the Dogecoin co-founder wrote to Musk that he believed in him, to which Elon sent a meme about the Fed's printing press.
Analyze your own assets and be prepared for price turbulence, accepting everything without unnecessary emotions.
Musk's tweet was accompanied by the tag "Bitcoin" and emoji with a broken heart. The cryptocurrency reacted with a decline of more than $ 1,000 within an hour.
A little later, the Dogecoin co-founder wrote to Musk that he believed in him, to which Elon sent a meme about the Fed's printing press.
Analyze your own assets and be prepared for price turbulence, accepting everything without unnecessary emotions.
π Square, launched by the creator of Twitter, plans to launch a new hardware wallet to market securely for cryptocurrencies.
"If we do this, we will create a completely open device, from software to hardware, with the community."
"If we do this, we will create a completely open device, from software to hardware, with the community."
Tesla CEO Elon Musk made several different posts about cryptocurrencies this morning from his Twitter account. One of Musk's tweets related to both Dogecoin and the US dollar
The first of Elon Musk's consecutive posts was the Linkin Park meme, which he shared with the bitcoin tag, and the following posts were about Dogecoin (DOGE).
"Dogecoin is a coin with unlimited supply"
Cryptocurrencies like bitcoin have a maximum supply of 21 million. A few years ago, while the idea of ββlimiting the total DOGE to 100 billion was discussed, Jackson Palmer, one of the founders of Dogecoin, announced in 2014 that they would not set such a limit.
According to the current functioning of the system, 10,000 DOGE block rewards are distributed every minute. Thus, approximately 14.4 million pieces are put into circulation every day. About 5.2 billion new DOGEs are introduced annually. Some of the criticisms leveled at DOGE were about its unrestricted proposal.
In a Twitter response to Billy Markus, one of the founders of Dogecoin, Elon Musk shared a meme about this, saying that the supply of the US dollar could also be unlimited.
Warren Davidson, a Republican congressman in the US, commented on the amount of money the Fed has invested in the economy, saying, "The Federal Reserve is pre-coinizing the US dollar."
DOGE starts trading on Coinbase Pro
On the Coinbase Pro platform of the American cryptocurrency company Coinbase Global DOGE, you can trade in USD, EUR, GBP, USDT and BTC parities. According to the current data on the stock market, despite the fact that 14 hours have passed, the volume of 425.1 million DOGE was formed at the DOGE / USD parity. If other pairs are included, that number rises to over 476 million ($ 178.1 million).
The first of Elon Musk's consecutive posts was the Linkin Park meme, which he shared with the bitcoin tag, and the following posts were about Dogecoin (DOGE).
"Dogecoin is a coin with unlimited supply"
Cryptocurrencies like bitcoin have a maximum supply of 21 million. A few years ago, while the idea of ββlimiting the total DOGE to 100 billion was discussed, Jackson Palmer, one of the founders of Dogecoin, announced in 2014 that they would not set such a limit.
According to the current functioning of the system, 10,000 DOGE block rewards are distributed every minute. Thus, approximately 14.4 million pieces are put into circulation every day. About 5.2 billion new DOGEs are introduced annually. Some of the criticisms leveled at DOGE were about its unrestricted proposal.
In a Twitter response to Billy Markus, one of the founders of Dogecoin, Elon Musk shared a meme about this, saying that the supply of the US dollar could also be unlimited.
Warren Davidson, a Republican congressman in the US, commented on the amount of money the Fed has invested in the economy, saying, "The Federal Reserve is pre-coinizing the US dollar."
DOGE starts trading on Coinbase Pro
On the Coinbase Pro platform of the American cryptocurrency company Coinbase Global DOGE, you can trade in USD, EUR, GBP, USDT and BTC parities. According to the current data on the stock market, despite the fact that 14 hours have passed, the volume of 425.1 million DOGE was formed at the DOGE / USD parity. If other pairs are included, that number rises to over 476 million ($ 178.1 million).
"Whales" added 50 thousand bitcoins to their wallets in ten days
According to the analytical service Santiment, large cryptocurrency holders have returned to the accumulation of digital coins
The largest bitcoin holders, whose addresses contain from 100 to 100 thousand digital coins, have added 50 thousand bitcoins to their wallets over the past ten days ($ 1.8 billion at the current exchange rate). This is indicated by the data of the analytical service Santiment.
Thus, the trend in which the "whales" got rid of bitcoin was disrupted. Santiment indicated that in the period from April 14, when the main cryptocurrency peaked at $ 64.8 thousand, until the coin fell to $ 30 thousand, which happened on May 19, the "whales" sold about 130 thousand bitcoins.
The accumulation of digital coins by "whales" usually indicates an upcoming rise in quotations, while the sale of cryptocurrency by large holders is perceived by investors as a signal for a fall. A similar situation was observed last month.
The collapse of quotations on May 19 was preceded by a record inflow of bitcoins to the largest crypto exchanges since March 2020. After the collapse, digital coins began to be withdrawn from the platforms. As a result, the largest outflow of digital coins was recorded in a year. Users of crypto-exchanges per day brought about 175 thousand bitcoins to cold wallets for $ 7 billion at the exchange rate at that time.
The next day, it became known that during the fall in the price of bitcoin to $ 30 thousand, large investors and funds began to buy it. After that, the number of bitcoins on cryptocurrency exchanges reached a minimum in the last four months.
According to the analytical service Santiment, large cryptocurrency holders have returned to the accumulation of digital coins
The largest bitcoin holders, whose addresses contain from 100 to 100 thousand digital coins, have added 50 thousand bitcoins to their wallets over the past ten days ($ 1.8 billion at the current exchange rate). This is indicated by the data of the analytical service Santiment.
Thus, the trend in which the "whales" got rid of bitcoin was disrupted. Santiment indicated that in the period from April 14, when the main cryptocurrency peaked at $ 64.8 thousand, until the coin fell to $ 30 thousand, which happened on May 19, the "whales" sold about 130 thousand bitcoins.
The accumulation of digital coins by "whales" usually indicates an upcoming rise in quotations, while the sale of cryptocurrency by large holders is perceived by investors as a signal for a fall. A similar situation was observed last month.
The collapse of quotations on May 19 was preceded by a record inflow of bitcoins to the largest crypto exchanges since March 2020. After the collapse, digital coins began to be withdrawn from the platforms. As a result, the largest outflow of digital coins was recorded in a year. Users of crypto-exchanges per day brought about 175 thousand bitcoins to cold wallets for $ 7 billion at the exchange rate at that time.
The next day, it became known that during the fall in the price of bitcoin to $ 30 thousand, large investors and funds began to buy it. After that, the number of bitcoins on cryptocurrency exchanges reached a minimum in the last four months.