Bitcoin dived down to its 200EMA level on the daily timeframe, where we saw a nice reaction. The sell-off caused one of the largest single liquidations; estimations put the options trader’s loss somewhere between $180-$250m. On the bright side, I don’t believe we will nuke through these levels as it’s a strong demand zone. Plus we can see the Bitcoin Dominance chart may be reversing, which may be an indication that the low is in – for now.
Fear is high, buy the blood? Don’t forget EIP 1559, scheduled for July, will make Ethereum deflationary. Seems whales agree that this upgrade is bullish, as we saw heavy bidding on the ETH/BTC pair on Bitfinex during this dip. Still believe we’re en route for a DeFi Summer 2.0!
- SHIB: Vitalik Buterin decided to burn 90% of his Shiba Inu coin (SHIB) holdings, which were valued at $6B, and the remaining 10% will go to a charity. Kind of bullish news for SHIB as this burn reduces the supply by 40%.
- Cardano: Interest in the ecosystem is surging with the CardStarter (CARDS) project, a launchpad for ADA-based projects, price skyrocketing from $0.15 to $60.7 within 24 hours. And this is before smart contracts are even live!
- Liquidations: Yikes! According to data from ByBit, total liquidations in the past 24 hours top $2.38 billion. Stay safe, use risk management, and if you did overextend recently then it never hurts to switch to spot trading.
- ChainSwap: The platform has passed over $100M in total volume swapped since launch, supporting Polygon, Binance Smart Chain, Ethereum, Huobi, and OkexChain. All fees are used to buy back its native TOKEN, which will go live within a few weeks. Bullish!
- Mercurial Finance: MER token will be listed on FTX Exchange on May 21st, if you missed the IEO, then don’t forget there is the IDO on Raydium. This project may become one of the backbones of DeFi products on Solana, don’t miss it!
- Serum: On the Solana note, take notice of the ever-growing volume on Serum DEX. A very good indication that this ecosystem is growing fast and strong. Expecting much higher daily volumes within the next couple of months.
- bZx Protocol: Listed CAKE and AUTO on Fulcrum, meaning the assets can be used for decentralized margin trading. Along with lending, borrowing, and farming. Learn more about the BZRX token in our full review.
- Loopring: Announced DAOSquare as its first Initial Wallet Offering (IWO), very similar to an IDO launchpad. Exciting as this happens on Layer2, meaning users cannot be priced out of a launch by high network fees. Learn more about Loopring’s scaling solution in our full review.
- Cometh: If you’ve been waiting for BTC farming on Polygon before diving in, the wait is over. Users can now provide pBTC-USDC or pBTC-WBTC liquidity on the L2 AMM Cometh, with APY over 200%. Remember you can bridge your USDC or MATIC through AscendEx.
- Solrise Finance: Announced the project has received an ecosystem building grant from Serum. Solrise is an upcoming decentralized investment fund on Solana, still in testnet phase for now, and no details about a native platform token. One to watch!
- DODO DEX: Launched staking on Huobi Eco Chain, meaning vDODO benefits are now available. Would be nice to see support for BSC in the future, check out our full review on DODO token here.
- Venus Protocol: The inflation rate for XVS has now been reduced by 50% after a governance proposal passed, additionally another vote is currently ongoing to burn a large amount of the supply. Bullish news for XVS holders! Learn how to use Venus and start earning interest on your cryptocurrencies in our full guide.
- Symmetry: An upcoming decentralized crypto index protocol on Solana, making it easy for users to invest in different crypto indices such as DeFi innovators, NFTs, or Oracles. Native governance token SMF will have an airdrop in the future, stay tuned!
Be sure to check the listing to view the digital crypto artwork in its full glory, as some art is animated or contains audio.
e t h s t a s y
How to describe the feeling of being empowered by a rising technology, To find yourself obtaining a new type wealth far greater than any previous form or effort, Overall betterment of ones life…
- Axies: Arena Season 17 is live! This time AXS leaderboard rewards will go to the top 300 trainers, so it’s time to enter the PVP Arena.
- DoggyNFT: A new NFT marketplace on Binance Smart Chain, powered by DOGGY token. The team has locked liquidity on Pancakeswap for 1 year, looks promising.
- NFT Stars: Upcoming multi-chain NFT marketplace ensuring artists and collectors are not stuck on one network, IDO for NFTS token is scheduled for 5th June. One to research!