May 22 Daily report: Rollercoaster By Dogecoin And Elon Musk, Saturday Is Bitcoin Pizza Day, Bitcoin price drops below $34,000, Cryptocurrencies Are Here to Stay and Polygon Became the Indian Tiger of Blockchain Platforms

Cryptocurrencies Are Here to Stay, Says Billionaire David Rubenstein

Billionaire David Rubenstein’s private equity titan has revealed he believes cryptocurrencies like bitcoin are here to stay, dismissing suggestions the market is a fad and could fade away in the future. Speaking to CNBC on ”Squawk Box,” Rubenstein said he hasn’t personally invested in cryptocurrencies directly but has invested in companies that facilitate cryptocurrency trading.

The Real Estate Transaction Turned Rollercoaster By Dogecoin And Elon Musk

Elon Musk strikes again! Via Yahoo! Money we receive the story of Kyle Seyboth, a Rhode Island realtor. He accepted 160,000 DOGE, “worth about $50,000 (or around $0.31 per digital coin) at the time” for a plot of land. While the people involved in the Real Estate deal sorted out the contracts, DOGE went to the moon.

Saturday Is Bitcoin Pizza Day: Here’s How to Take Part

There are several ways to take advantage of promotions, contests, airdrops, and giveaways this year. Participating users can win free pizza, free cryptocurrency, and promotional items from various companies. Saturday, May 22 marks the eleventh anniversary of Bitcoin Pizza Day.

Bitcoin price drops below $34,000, pulling altcoins to multi-month lows

Another round of FUD helped to push Bitcoin price back below $34,000, placing further pressure on altcoins which now trade below multi-month lows. On May 21 the crypto market was hit with a fresh round of fear, uncertainty and doubt (FUD) which sparked another, albeit more muted, sell-off in Bitcoin (BTC) price and a majority of the altcoins. 

Polygon Became the Indian Tiger of Blockchain Platforms

The project that started as a simple idea by a group of developers in Mumbai is now going stellar. Polygon recently saw user numbers increase by 75,000 in one week, many of whom were drawn in by one of the 93 apps running on the network. The success is reflected in the token price, too – MATIC has posted gains above 12,000% since January. Its current market cap is over $13 billion, putting it in the top 20 tokens by global ranking.

Cryptocurrency market

According to cryptocurrency digital assets trading app BuyUcoin.com, Bitcoin rose 19.33 percent to $42,107.19 on May 20, only one day after plunging by over 30%.

Cryptocurrency digital assets

One of the top stories from yesterday was the sudden drop in cryptocurrency rates. On May 20, however, crypto-assets made a strong comeback. According to CoinMarketCap data as of 7 p.m., the overall market cap of the global crypto market had increased by 27.61 percent to $1.87 trillion in the previous day. Crypto assets have been dropping steadily in recent days, with fear evident on May 19, when Bitcoin’s price fell more than 30% to below $31,000. According to CoinDesk, Bitcoin, the most valuable cryptocurrency by market capitalization, once hit an all-time high of $64,829.14. Here’s how the top global cryptocurrencies have fared throughout the last month.

On May 20, 2021, at 7 p.m., the price of Bitcoin had risen 17.12 percent to $42,045.18, with a market capitalization of $786.83 billion. (1-month performance: 24.32 percent decrease)

On May 20, 2021, at 7 p.m., Ethereum’s price had risen 21.18 percent to $2,925.27, with a market cap of $129.26 billion. (20.25 percent increase in one month)

On May 20, 2021, at 7 p.m., the price of XRP soared 7.94 percent to $1.24, with a market cap of USD 123.65 billion. (1-month performance: 11.16 percent decline)

Tether was an outlier, with a market value of $ 60.45 billion and a price drop of -0.05 percent to $1.00. (1-month performance: 0.22% increase)

On May 20, 2021, at 7 p.m., Cardano’s price had risen 25.22 percent to $1.88, with a market cap of $60.28 billion. 1-month performance: 47.15 percent increase)

On May 20, 2021, at 7 p.m., Stellar’s price jumped 21.39 percent to $0.52, with a market cap of $54.89 billion. (1-month performance: 0.14 percent increase)

Chainlink’s price has risen 16.16 percent in the last 24 hours to $32.00, with a market cap of $32 billion. (1-month performance: 16.50 percent decrease)

With a market cap of $31.67 billion, Polkadot was up 18.53 percent to $29.87. (1-month performance: 16.48 percent decrease)

On May 20, 2021, at 7 p.m., the price of Uniswap soared 18.83 percent to $27.67, with a market cap of $27.67 billion. (1-month performance: a decrease of 21.99%)

On May 20, 2021, at 7 p.m., the price of USD Coin had dropped -0.05 percent to $1.00, with a market cap of $17 billion. (Performance over the last month: +0.06%)

Source : money control

March 21 Daily report: BTC wobbles to $40,000, Charles Hoskinson Teaches Elon How To Fix Dogecoin, Institutional investors bought more Ethereum, Elon Musk Says Bitcoin Lightning Is Needed and Cryptocurrency Investors Ask Google

Cardano’s Charles Hoskinson Teaches Elon How To Fix Dogecoin

How To Fix Dogecoin Well, Doge is a Litecoin fork. And Litecoin is a Bitcoin fork, so they basically use the same code. Because the whole Cardano value proposition rests on the notion that Bitcoin is old technology. To begin with, he recommends Prism. He says it’s “probably the best and fastest Proof-Of-Work protocol on market right now.” It can do 10.000 transactions per second.

BTC wobbles to $40,000, but weak technical levels delay upswing to $50,000

Bitcoin price is pivotal at $40,000, whereby bulls lack the momentum to extend the gains to $50,000 and barricade the downside, eliminating all bearish threats. The 40% recovery from the support at $30,500 fizzled out at $43,000, marking the most formidable technical resistance.

Institutional investors bought more Ethereum than Bitcoin last month

In the report, CoinShares, the second-biggest and largest European digital asset manager said Bitcoin investment products recorded a colossal $98 million in outflows. The outflows were solely from Bitcoin investment products which totalled $98 million or 0.2% of total assets under management. While small, this marks the largest outflow we have recorded, with the second-largest for Ethereum $19 million in May 2019.

Elon Musk Says Bitcoin Lightning Is Needed

Tesla CEO Elon Musk is diving deeper into the Bitcoin scaling debate in his latest tweet. The centi-billionaire claims that a single layer will be able to handle all future transactions because of rapidly rising bandwidth and computing power but concedes that Lightning, a Layer 2 protocol, is still needed for now.

Cryptocurrency Investors Ask Google if They Should Sell After Crypto Market Crash

Cryptocurrency markets have been crashing over the last few days, with bitcoin dropping from a $57,000 high to $32,000 before it started recovering. The drop has seen search interest for crypto assets reach a new all-time high on the world’s largest search engine. Data shared by Google itself revealed that throughout the world, search interest for the term “cryptocurrency” hit a new all-time high, far above the search interest seen back in 2017.

The market capitalization of the Made-in-India crypto token has surpassed $10 billion

Last week, the market capitalization of a crypto token produced by three Indians surpassed $10 billion, placing it among the top 20 crypto tokens worldwide.

crypto token has surpassed $10 billion

Polygon (MATIC) is an Ethereum token that is used to run the Polygon Network, an Ethereum scaling solution. One of the Ethereum blockchain’s most serious flaws is its high transaction fees. Polygon uses Layer 2 sidechains, which are blockchains that run alongside the main Ethereum chain, to provide quicker and cheaper transactions on Ethereum.

What caused this to happen? Polygon’s market cap has increased tenfold as a result of increasing consumer adoption in gaming, non-fungible tokens (NFTs), and Defi (decentralized finance).

Between January and May 2021, the number of applications built on Polygon increased by eightfold to nearly 400.

In 2019, Polygon’s token was distributed via Binance’s Initial Exchange Offering, which raised over $5 million. In March 2021, Coinbase, the largest cryptocurrency exchange in the United States, allowed users to trade Polygon’s token.

In recent meetings with the government, prominent crypto exchanges requested that the Securities and Exchange Board of India (Sebi) rather than the Reserve Bank of India (RBI) regulate the market. They say that since crypto assets are not backed by a government, they are more akin to commodities than currencies.

Several exchanges have also pitched for a hybrid or an entirely new regulator for cryptocurrencies. A hybrid regulatory body could be created Under Sebi and RBI which would be responsible for regulating crypto exchanges, said BuyUcoin chief executive Shivam Thakral.

Major banks, including ICICI Bank and IndusInd Bank, have unofficially ordered payment gateway partners to stop handling cryptocurrency exchange transactions in recent weeks. According to banking industry insiders, these restrictions could be the result of RBI’s informal guidance to banks urging stricter compliance with existing money laundering laws. The Supreme Court overturned the RBI’s 2018 ban on banks trading in cryptocurrency last year.

May 20 Daily report: Uniswap v3 overtakes SushiSwap by volume, Ripple price back to the drawing board, MicroStrategy Scoops Up Extra 229 BTC Worth $10M, Musk Says Tesla’s “Diamond Hands” Will Help Market and Instagram is hosting

Ripple price back to the drawing board, will $1 hold ahead of recovery toward $1.6?

Ripple seemed to hold above $1.2 amid the trading on Wednesday. Ripple had shown resilience for a few days as it controlled the correction from $0.71. The post Ripple price back to the drawing board, will $1 hold ahead of recovery toward $1.6. The flash drop continued under $1.2 and $1 before finding support at $0.85.

Uniswap v3 overtakes SushiSwap by volume, on track to surpass v2 this month

Uniswap v3 is now the second-largest Ethereum-based decentralized exchange by volume, ranking only behind Uniswap v2.  Uniswap v3 has already overtaken SushiSwap to rank as the second-largest Ethereum-based decentralized exchange by trade volume.

MicroStrategy Scoops Up Extra 229 BTC Worth $10M

MicroStrategy Incorporated, a Nasdaq-listed business intelligence, and software firm topped up its Bitcoin (BTC) accumulation with an additional 229 Bitcoin (BTC) purchase in cash. The latest purchase, worth as much as $10 million, came few days after the company acquired 271 units of the cryptocurrency, establishing its stance as a true Bitcoin investor. 

Musk Says Tesla’s “Diamond Hands” Will Help Market

Tesla CEO Elon Musk tweeted that his firm has “diamond hands,” implying that Tesla will not sell its Bitcoin holdings. Musk’s statement comes in the wake of a cryptocurrency market crash that brought Bitcoin prices down to $30,400. Justin Sun of TRON and Michael Saylor of Microstrategy also announced their dedication to holding Bitcoin.

Instagram is hosting a professional development panel for NFT artists

Instagram is hosting an event for non-fungible token (NFT) creators as part of its inaugural “Creator Week.” The virtual program features a series of invitation-only events to solicit feedback from creators on how the Instagram and Facebook platforms can better support their content. It’s slated to run three days, from June 8-10. 

May 19 Daily report: Polkadot’s (DOT) long-awaited para chains, BTC Slips to $40,000, Ethereum ERC20 token converter is on its way, Celo rallies 50%, and Ark Investment tips $20M

BTC Slips to $40000, After Elon Musk, Chinese Central Bank Puts Pressure on Bitcoin

It’s a double whammy for Bitcoin (BTC) investors this week. After Elon Musk single-handedly crashing Bitcoin and the overall crypto market, the Chinese central bank PBoC gives another hammer blow. The overall crypto market cap has once again tanked under $2 trillion and is currently at $1.94 billion. Of this 50% or over $90 billion erosion has been contributed by Bitcoin alone. BTC Slips to $40000, After Elon Musk, Chinese Central Bank Puts Pressure on Bitcoin

Polkadot’s (DOT) long-awaited para chains are launching on Kusama (KSM)

The Polkadot (DOT) and Kusama blockchain developers have entered the final stage of preparation for the launch of the highly anticipated para chain functionality, according to an announcement published by the project’s founder Gavin Wood yesterday. The launch of Polkadot began around ten months ago with the first four phases.

Cardano’s parent company IOHK announces an Ethereum ERC20 token converter is on its way

Input-Output, the technology firm and code maintainer of Cardano, released a new ‘converter’ today that allows users to bring ERC20 tokens (issued on Ethereum) to the Cardano blockchain. Our incoming ERC20 converter will allow Ethereum-based tokens like AGI (SingularityNet) to run on our proof-of-stake blockchain.

Celo rallies 50% as excitement builds for the upcoming ‘Donut’ hard fork

CELO price gained 50% ahead of the network’s May 19 ‘Donut’ hard fork which will help increase interoperability and lower gas fees. A quick scroll through the project’s Twitter feed shows that excitement in the Celo community has been building in recent weeks due to the upcoming ‘Donut’ hard fork that is scheduled for May 19.

Ark Investment tips $20M into Grayscale Ethereum Trust

Ark’s Q1 SEC report revealed holdings of 639,069 shares in Grayscale’s Ethereum Trust, worth more than $20 million. The news of Ark’s major investment into Ethereum was seen as a bullish sign by Ethereum and Defi proponents. Ether bulls have been growing noticeably more confident recently.