May 12 Daily report: Yearn Finance surges 45%, Uniswap flips Bitcoin on daily revenue, EOS and YFI lead altcoins higher, Dogelon Mars, Shiba Inu, and Dogecoin take the lead and Enjin takes an interest in the project that delivers physically-backed NFTs

Uniswap flips Bitcoin on daily revenue and it’s more impressive than you think

Uniswap flips Bitcoin, Liquidity provider fees for Uniswap have surpassed BTC network revenue on a seven-day average. Uniswap has surpassed Bitcoin in terms of daily fee generation for two days in a row. Uniswap had generated $7.1 million in fees over the past 24 hours compared to Bitcoin’s $4.6 million.

Yearn Finance surges 45% as it joins dog pack with WOOFY

Yearn Finance is up nearly 45% in 24 hours, and it appears to be thanks to the team’s new dog token offering a bi-directional peg to YFI. Despite Dogecoin retracing from its all-time highs above $0.70, dog tokens continue to attract astonishing levels of popularity, with Defi “blue-chip”.

EOS and YFI lead altcoins higher as Bitcoin and Ether bounce from swing lows

YFI, EOS and REV notched double-digit rallies as altcoins capitalized on the oversold bounce in Bitcoin and Ethereum price. The markets were mixed on May 11 as Bitcoin (BTC) recovered from Monday’s drop to $53,000 by bouncing to $56,862 but the digital asset is still finding resistance at the $57,000 level.

Dogelon Mars, Shiba Inu and Dogecoin take the lead

Canine-themed meme tokens like ELON, SHIB and DOGE have taken control of the market while Bitcoin consolidates below $57,000 and Ethereum holds above the $4,000 mark. The biggest event generating conversations across the crypto sector and social media is the rise of dog-themed tokens inspired by the recent mega rally from Dogecoin (DOGE).

Enjin takes an interest in the project that delivers physically-backed NFTs

A new NFT marketplace plans to make tokenized art and media real, putting it on things like T-shirts and hats, and even 3D printing them. A big milestone for Enjin came in March when Efinity was unveiled — a next-generation NFT blockchain built on Polkadot. Uniqly describes itself as a “bridge between virtual nonfungible tokens and real-world goods”

May 11 Daily report: BTC could revisit $50,000, Mark Zuckerberg Hints at Being Bitcoiner, Buying Litecoin Now Is Like “2020 Ethereum”, ETH causes mayhem amid sharp drop under $4,000 and Dogecoin price dumps

Dogecoin price dumps

Although Dogecoin’s futures volume tripled, the recent 42% Dogecoin price dumps appear to be entirely retail-driven. Most recently, DOGE pulled off a 10x gain as it rallied to $0.74 in the past week. The breakout was fueled mainly by Tesla CEO Elon Musk and his constant mentions of the token on social networks and interviews.

BTC could revisit $50,000 as the technical picture weakens

Bitcoin has recently closed the gap toward $60,000. However, a monthly high formed at $59,612 cut short the bullish advances. Perhaps due to exhaustion in the bullish camp, a correction came to the picture. The retreat occurred in tandem with other crypto assets like Ethereum’s drop from $4,216 to under $3,800.

Mark Zuckerberg Hints at Being Bitcoiner, Reviving Facebook Rumors

Facebook CEO Mark Zuckerberg has named his goats “Max” and “Bitcoin,” according to his recent post. SkyBridge founder Anthony Scaramucci welcomed Zuckerberg to the Bitcoin community in his tweet. Some went as far as joking that the fifth richest person could be becoming a Bitcoin maximalist since it’s now the G.O.A.T.

Buying Litecoin Now Is Like “2020 Ethereum”

Litecoin is in scintillating form of late, having posted a new all-time high of $410 in the early hours. After months of stuttering, LTC finally joined the likes of BTC and ETH in reaching that milestone moment during this bull run. With that, the bull case is building. Some suggest this is just the beginning, with more upside for Litecoin on the way. This is especially applicable as the Mimblewimble upgrade draws closer to rollout.

ETH causes mayhem amid sharp drop under $4,000

Ethereum surprised many in the cryptocurrency market when it rallied above $4,000. It was a song and dance for investors who have been patient with the pioneer smart contract token. An all-time high was formed at $4,216, allowing bulls to shift the focus to $5,000. However, the bullish momentum began fizzling out, leaving ETH with few options.

May 10 Daily report: SpaceX payload funded by DOGE plans to reach lunar orbit in 2022, Cardano smashes a new all-time high, Elon Musk on Saturday Night Live, Ether Price Pushes Past $4K for the First Time and BTC to reclaim $60000

Ether Price Pushes Past $4K for the First Time, Approaches JPMorgan’s Market Value

The ether price, already up a dizzying five-fold this year, extended its early Monday, pushing past the psychological milestone of $4,000 for the first time. Ether, the native cryptocurrency of the Ethereum blockchain and the second-biggest overall, went as high as $4,070. Ether’s market capitalization now stands at roughly $470 billion, approaching the $488 billion stock-market valuations for JPMorgan Chase, the largest U.S. bank. Ether Price Pushes Past $4K for the First Time, Approaches JPMorgan’s Market Value

SpaceX payload funded by DOGE plans to reach lunar orbit in 2022

SpaceX founder Elon Musk has repeatedly hinted — perhaps jokingly — on Twitter that Dogecoin will be the first cryptocurrency to “literally” reach the moon. Musk’s social media activity has likely been responsible for a number of price surges for the token, which has risen more than 800% in the last 30 days to reach $0.55 at the time of publication.

Cardano smashes new all-time high following 14% gain

With a value of nearly $58 billion, ADA has flipped Tether in the market cap rankings. Cardano’s ADA cryptocurrency surged on Sunday, bringing the smart contract platform back into elite territory in terms of market capitalization rankings.  ADA charted 14% growth to reach $1.83 on major exchanges, marking a new all-time high.

Dogecoin dumps the following mention from Elon Musk on Saturday Night Live

While the crowd seemed to enjoy his performance, DOGE traders soured on Elon Musk’s shout-out. In the minutes afterwards, $DOGE dumped upwards of 25%, falling as low as $.50 from $.66 highs at the start of the show. It has since partially recovered, trading at $.52 at the time of publication.

BTC to reclaim $60000 as liftoff to $65,000 catches momentum

Bitcoin has over the weekend session brushed shoulders with $60,000. A continued movement into the overbought region will prove to investors that the uptrend is intact, and therefore, it is probable to speculate BTC’s rise to $65,000. Meanwhile, Bitcoin must make one last break above $60,000 to affirm the breakout. 

May 8 Daily report: 1INCH price hits a new record high, Cardano breaks out vs. Bitcoin, Qtum price rallies 160%, Elon Musk scales back Dogecoin hype and EOS price has pumped 100% in three days

1INCH price hits a new record high as the top DEX aggregator vies for Defi dominance

A series of protocol upgrades and new liquidity integrations prove that 1INCH is aiming to increase its Defi and DEX aggregator market share. One of the top DEX aggregators that have recently seen 1INCH price hits a new record high a protocol that offers “access to the most liquidity, lowest slippage and best exchange rates across Ethereum and Binance Smart Chain” according to the project’s website.

Cardano breaks out vs. Bitcoin as ADA price discovery nears $2

ADA, the native token of the Cardano smart contract platform, has joined the altcoins hitting new all-time highs this week. Data from Cointelegraph Markets Pro and TradingView shows ADA/USD hitting over $1.70 for the first time on May 7. Against BTC, ADA remains far below its all-time high — a trait common to many altcoins despite their U.S. dollar performance.

Qtum price rallies 160% as the project’s focus on Defi pays off

QTUM price hit a 3-year high above $35 as the team’s focus on Defi and staking attracts new users. After rallying 1.510% in 2021, QTUM price hit a $35.70 all-time high on May 7. This relatively obscure altcoin launched in September 2017 is a fork of the Bitcoin Core 0.13 version, but it also integrates the Ethereum virtual machine (EVM) and smart contract execution capability.

Elon Musk scales back Dogecoin hype while DOGE price rebounds 23%

Musk appeared to cool the hype on Dogecoin while suggesting the meme coin’s fate was now in the hands of the gods. The coin price jumped from $0.52 to $0.64 in the hours immediately after Musk posted the TMZ video on Twitter, accompanied by the warning: “Cryptocurrency is promising, but please invest with caution!”

EOS price has pumped 100% in three days

EOS is the latest large-cap altcoin to experience a massive price surge in the last few days as alt season gains momentum. Indeed, major altcoins like Bitcoin Cash (BCH), Ethereum Classic (ETC), Chainlink’s LINK, and Polkadot’s DOT have experienced rapid price surges. EOS is following the pattern, gaining enough momentum to show significant price action strength against Bitcoin.

Is crypto trading legal in India when NPCI refuses to ban crypto trades?

According to ET, the NPCI has refused to block fund movements for cryptocurrency trades in India. It is said to have asked banks to make a decision based on the advice of their legal and compliance departments. “If the NPCI took a central decision to disable UPI and RuPay cards for investing in cryptocurrencies, it would…leave investors with fewer payment options,” an industry official said. Is crypto trading legal in India when NPCI refuses to ban crypto trades?

Also, with an internal discussion with BuyUcoin Team on the same topic, ShivamThakral said

“We welcome Sh S.C Garg’s statement in support of the Indian crypto industry. We remain optimistic that government will soon announce positive regulatory guidelines for the crypto industry in India which will boost investor confidence and create more employment opportunities for the youth of India. A recent statement by NPCI regarding crypto also points towards a bright future for the Indian crypto industry. We urge all the relevant stakeholders to enable the growth of blockchain technology and digital assets to position India as the blockchain capital of the world”.

Source : inshorts

May 7 Daily report: DOGE flips BTC volume, Bitcoin revenue up 1000%, Altcoins rally as bulls pile into large-cap tokens, EOS price rallies 100% and Indian startup organization proposes a regulatory framework for crypto

DOGE flips BTC volume for the first time

Dogecoin has officially flipped Bitcoin in a few categories here in China, with DOGE trading volume on leading Chinese exchange Huobi surpassing that of leading assets ETH and BTC. Searches for ‘Dogecoin’ on WeChat surpassed searches for Bitcoin, with 2.3 million versus 1.7 million on May 5th. DOGE flips BTC volume, Dogecoin’s volumes, and prices are also peaking across the world on the much-anticipated appearance of Musk on an American TV show on May 8.

Bitcoin revenue up 1000% in 12 months

Bitcoin alone drove $3.5 billion in revenue, an astonishing increase of 1,000% in just 12 months. Square’s quarterly gross profit also surged 79% year-over-year to tag $964 million. More than half of the firm’s profits can be attributed to its crypto-friendly payment application, Cash App, which drove $495 million in gross profits — a 171% increase when compared to Q1 2020.

Altcoins rally as bulls pile into large-cap tokens and layer-1 projects

EOS, LTC, ETC, and ETH are just a few of the altcoins that chased after new multi-year highs as layer-1 projects saw an increase in trading volume. The cryptocurrency market provides investors with another day of ‘alt season’ as the majority of altcoins in the top 100 on CoinMarketCap rallied today.

EOS price rallies 100% following a proposal to increase staking rewards

A proposal to boost staking rewards and increase the inflation rate triggered a 100% rally in EOS price. With the overall cryptocurrency market heating up and 2016-era projects like Litecoin (LTC) and Ethereum Classic (ETC) reaching new highs, EOS is one large-cap blockchain project that could continue to benefit as the cryptocurrency bull market stampedes ahead.

Indian startup organization proposes a regulatory framework for crypto

An internet startup association in India has asked the government to define cryptocurrencies like Bitcoin as digital assets and not currencies. IndiaTech.org on Wednesday released a white paper including a policy proposal with recommendations for a regulatory framework for crypto-assets and crypto exchanges in India.