👀 Stay safe: ponzis are coming
Also, read about a trip to the Bitcoin Beach and Ethereum’s upcoming Ropsten testnet merge.
🦀 Bear market or crab market? - DeFi TVL haven’t change much of the $56B from past week.
The market is still slowly recovering confidence after the UST implode drama, but crypto “ponziers” don’t give us a break. If this is your first tough times in crypto, I should warn you that you’ll need to doge from “kwonzis” and scams like Neo.
So stay safe.
😳 Driving crypto and DeFi regulatory updates
The president of the European Central Bank, the top Bitcoin critic, has revealed that her son invests in cryptocurrencies.
Korean exchange Bithumb issues investment warning over private Litecoin transactions.
Panama President will refuse to sign Crypto Law in its current form.
Central bankers bellow Bitcoin on El Salvador's Bitcoin Beach.
UK regulators plan to incorporate stablecoins into the regulatory framework.
FCA will ‘absolutely’ consider recent stablecoin de-pegging when drafting crypto rules.
💸 DeFi Markets:
📉 ETH - $2,008.67 (-4.1%)
📈UNI - $5.70 (+4.79%)
📈LRC- $0.57 (+15.07%)
📈AAVE - $106.89 (+14.02%)
📉MKR - $1310.53 (-16.6%)
👛 The $DPI pulse — The DeFi Pulse Index ($DPI) is presently trading at $102.91, up by 1% on the week.
👀 Latest News you shouldn’t miss:
Thales: The launch of Tokenized Range Markets
Revolut is launching a crypto token to reward customer loyalty
How Terra lost $40billion
Harvest Finance is live on Arbitrum
FTX US launches stock trading feature
Solanium Swap is live
Beeple's Twitter hacked: Victims lose $440,000 in crypto
Twitter Spaces 🎙️
Join us for a Twitter spaces this week with Scalara and Pony talking about yield farming on stablecoins!
Central Banks Enjoying a trip to the Bitcoin Beach
Let’s put a hold on LUNA collapse insights and enter El Salvador's orange-pilling adventure. El Zonte, also known as "Bitcoin Beach," is the birthplace of Bitcoin in El Salvador and a popular tourist attraction for Bitcoin fans. It was the catalyst for a movement culminating in El Salvador declaring Bitcoin legal tender in 2021.
Forty-four central bankers from countries including Paraguay, Ghana, and Egypt and finance delegates from emerging economies worldwide exclaim "Bitcoin!" while posing for a selfie at El Zonte, El Salvador, in a video that defies belief (see tweet above).
Key Takeaway: Events like the Bitcoin Beach and the participants' enthusiasm might improve the mainstream adoption of Bitcoin and other cryptocurrencies in the upcoming years.
Oleksii Konashevych: Stablecoin issuers do not guarantee the legal right for users to claim fiat currency back
TLDR: Konashevych, the Australian Institute for Digital Transformation CEO, shared that stablecoin investments due to guarantee fiat claims such as Tether’s terms include that the company reserves the right to return in-kind;
Ethereum Ropsten testnet to merge in June
TLDR: Ethereum is expected to merge its most well-known testnet after the first mainnet shadow fork in April. At the Genesis event on May 30, Ropsten's proof-of-work testnet will be coupled with a proof-of-stake testnet;
Vitalik: I’m not a billionaire anymore
TLDR: A dramatic drop in digital currency values and the volatility surrounding the algorithmic stablecoin TerraUSD and its Luna token have taken a toll on Vitalik's crypto assets, resulting in a 55% loss in the ether token's worth and thus his riches;
fUSD stablecoin launch and rumors of Cronje’s return send Fantom (FTM) price higher
TLDR: After the debut of the fUSD stablecoin and the likely return of Andre Cronje, the FTM price has recovered from its May 12 low. New protocol improvements and partnership announcements, which offer new functionality to the network, are also contributing to this upward trend.
Omenics combines market data, popular news stories, and viral social media posts into a single data platform for content sentiment analysis. With Omenics, you may stay connected and aware of market movement by combining need-to-know material with data analytics.
Zero to DeFi - Learn with DeFi Pulse
An Introduction To Cryptocurrency Wallets
A cryptocurrency wallet is a type of tool used to store and transact with top cryptocurrencies like Bitcoin (BTC) and Ether (ETH). They are also used to collect non-fungible tokens (NFTs), like art, digital collectibles, and virtual land.
Accordingly, a crypto wallet is a home for your crypto and NFTs. These applications or devices can be set up such that only you or ones close to you can access your digital assets. This article will deep dive into how a cryptocurrency wallet works and explain various wallet types.
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Every bear market is an opportunity
I know this might sound weird but yes, a crypto bear market is a huge opportunity. I’m not even talking about buying the dip or averaging down. I’m talking about the best opportunity to join the community and learn.
It’s during the quiet nights of bear markets that builders have the best environment to build. If the DAO/project has a good treasury management to keep growing the ecosystem, you’ll find endless opportunities to engage in projects that will build the foundation of the next cycle. You don’t think that crypto devs will miss a single-digit gas price opportunity to deploy contracts, right? Also, the Merge is coming.
Since developing is not the only way of contributing to the space, if you’re interested in freelance research make sure to fill this form 😉 - Ludmila Lopes (aka DeFinn), Head of Marketing at DeFi Pulse
All info in this newsletter is purely educational and should only be used as research. DeFi Pulse is not offering investment advice, endorsement of any project or approach, or promising any outcome. This post is prepared using public information (which does not account for specific goals or financial situations) and links provided to third-party sites are for informational purposes. Such sites are not under the control of DeFi Pulse, so DeFi Pulse or the author are not responsible for the accuracy of the content on such third-party sites. Be careful and keep up the honest work!