As inflation peaks, bitcoin traders should be wary of reading too much into data. Source
Past-Peak Inflation Might Be Misleading as Price Pressures Continue to Mount
Day: May 10, 2022
BITCOIN AND CRYPTO REACTS TO INFLATION AND ROBINHOOD
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Environmental Groups Call on US Government to Implement Stringent Bitcoin Mining Regulations
Local and national activists are banding to limit what they consider are the industry’s adverse effects on the environment. Original
Erratic Bond Yields, Lockdowns, and War — 3 Reasons Why Economic Recovery Won’t Happen Quickly – Economics Bitcoin News
The global economy looks bleak as inflation continues to rise, and a wide array of financial investments continue to shudder in value. Since May 2, 2022, the crypto economy has dropped more than 15% from $1.83 trillion to today’s $1.54 trillion. The price of gold has lost 5% in 30 days, and major stock market indexes have seen record lows during the past two weeks. While many people hope the world’s financial markets will see a turnaround, there are three major obstacles impeding the path to recovery. 3 Factors That…
Can You Really Build a ‘Crypto Empire’ in the Empire State?
Can you really build a crypto empire in New York? New York City Mayor Eric Adams wants to lure crypto companies to the Big Apple – but there are a host of obstacles in his way. Source
Polygon reaches level that last time triggered a 275% MATIC price rally — will history repeat?
Polygon (MATIC) price reversed course to the upside on May 10 after testing $0.794 as its interim support, thus rising by up to 25% to $0.99. The rebound occurred a day after the token slumped over 17% to reach $0.787, its lowest level since July 2021, amid a global market crash led by the U.S. Federal Reserve’s hawkish policies. MATIC price rebounded after undergoing five days of relentless declines, attracting buyers around the same support level that had preceded a 275% bull run last year. MATIC/USD weekly price chart. Source: TradingView A…
Bitcoin Is Down, but You Don't Have to Be
Bitcoin Is Down, but You Don't Have to Be Source
LUNA Loses 50% of Its Value, While XMR and AXS Declines Continue – Market Updates Bitcoin News
LUNA was down by over 50% in today’s session as markets continued to react to UST losing its parity with USD. As such traders lost faith in the stablecoin founded by Do Kwon, which dropped to its lowest point since September. Whilst LUNA stole the headlines, XMR and AXS also saw recent losses extended. Terra (LUNA) LUNA fell by over 50% during today’s trading session, as markets reacted to stablecoin UST losing its parity with the U.S. Dollar. After trading at a peak of $57.44 to start the week, LUNA/USD…
Bitcoin Holding Support at $30K, Resistance at $35K
Bitcoin (BTC) is stabilizing around $30K, which is the bottom of a year-long trading range. There are initial signs of capitulation, evidenced by an uptick in volume, albeit not as extreme as previous sell-offs. Upside remains limited. Source
Polkadot’s 16th Parachain Slot Secured in Crowdloan Round
On the 6th of May, Polkadot’s most recent auction round came to an end, generating over $13.8 million and bringing a new platform to the system. The winner of this auction, Polkadex, put up 973,324 DOTs across over 6000 community member donations, demonstrating the incredible community push that was behind this win. Polkadot is an interoperable blockchain ecosystem that offers high levels of security, user-driven governance, high energy efficiency, and is readily built for rapid scalability. Part of this scalability comes through its interoperable parachains, with many different blockchain systems…