May 31 Daily report: CBDC Can Be Set Up on Ethereum Network, Bitcoin Bears Are Back, We Could Be In for a Bit of a Cardano Summer, Polygon ($MATIC) Data Now Searchable With Help of Google Cloud’s Big Query and Chainlink (LINK) Price Up 6%

CBDC Can Be Set Up on Ethereum Network, Says Architect of Digital Yuan

During the spring meetings of the 2021 International Finance Forum (IFF), Yao Qian, science and technology supervision bureau head at the China Securities Regulatory Commission (CSRC), said that a central bank digital currency (CBDC) could run directly on the Ethereum network or Facebook-backed blockchain payment system Diem.

Bitcoin Bears Are Back, Here’s Why BTC Could Test $30K

Bitcoin price failed to clear the $37,000 resistance against the US Dollar. BTC is declining and it remains at a risk of more losses below $34,000. Bitcoin made a couple of attempts to clear the $37,000 resistance zone, but it failed. The last swing low was formed near $33,650 before BTC corrected higher. It broke the $34,000 and $35,000 resistance levels.

Crypto Analyst Says ‘We Could Be In for a Bit of a Cardano Summer’

Recently, popular New Zealand-based crypto analyst Lark Davis talked about why he is super bullish on Cardano ($ADA). Cardano Summer, so to speak, with loads of new applications launching in anticipation of the smart contract launch. Cardano and Polkadot are both in this really similar situation right now where there’s this incredible anticipation building up for the launch of really the ecosystems.

Polygon ($MATIC) Data Now Searchable With Help of Google Cloud’s Big Query

The Etheruem layer-two scaling solution Polygon (MATIC) has announced its blockchain datasets have been integrated on Google Cloud, allowing developers, data analysts, and crypto enthusiasts to better understand the Polygon blockchain. With support from Google’s BigQuery, a “serverless, highly scalable, and cost-effective multi-cloud data warehouse designed for business agility,” Polygon’s datasets are now listed on the Google Cloud Marketplace, under the public financial services category.

Chainlink (LINK) Price Up 6%, Will It Break the Resistance Trend line to Set An Upward Journey

LINK, the native cryptocurrency of oracle service provider Chainlink, is trading 6% up today at $28.82 with a market cap of $12.3 billion. Chainlink (LINK) has shown a strong pullback after falling to a low of $17.50 during the recent market correction. After hitting this low last Sunday on May 23, the LINK price doubled to $35 within four days.

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