The knock-on effect of the collapse of Terra (LUNA) and its TerraUSD (UST) stablecoin have spread wide across the cryptocurrency market on May 11 as projects with any kind of association with the DeFi ecosystem have seen their prices hammered.
May 11, 2022
Bitcoin (BTC) price initially bounced from its recent low at $29,000 but the overall market sentiment after a 25% price drop in five days is still largely negative. Currently, the crypto “Fear and Greed Index,” which uses volatility, volume, social
ApeCoin (APE), the new cryptocurrency that was recently launched by Yuga Labs, aims to be the bedrock of the Otherside Metaverse and recently the token has experienced massive volatility leading into and after its digital land sale. APE’s price dropped
The crisis with Terra’s stablecoin TerraUSD (UST) and the freefall in Terra’s LUNA token has dented crypto sentiment further. Although Terraform Labs CEO Do Kwon announced a relief plan, the community does not seem too hopeful about the revival. Another
It goes without question that there has been an influx of excited investors piling into Web3 and this is despite the decrease in total volume sales in the last 7 days. Since the start of May, the total market capitalization
The fallout from extreme volatility in the crypto market hasn’t significantly affected Celsius Network, according to its leadership. Seemingly in response to a now deleted tweet from Twitter user David Belle that claimed the platform had been “completely wiped out,” Celsius
Despite the fact that it still hasn’t made a final decision on the launch of the “digital shekel,” Israel’s central bank reported that the public feedback on the project is mainly positive. According to Reuters, on Monday, The Bank of
Even though the cryptocurrency market seems to be going through a bit of a lull at the moment, there’s no denying the fact that the industry has grown from strength to strength over the last few years, especially from an
The United States Securities and Exchange Commission (SEC) is seeking to hire more people to focus on digital assets, raising the number of personnel charged with safeguarding investors in cryptocurrency markets by almost twofold. The SEC’s Cyber Unit, which comprises
By definition, a metaverse is a network containing a series of two and three-dimensional virtual worlds where users can interact and develop powerful social connections as a part of a larger community. While many look to current Web2 platforms like
