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While bitcoin has lost more than 16% in value against the U.S. dollar during the past 30 days, the cryptocurrency’s market capitalization is still the world’s tenth-largest asset by market valuation. With $603 billion in market value, bitcoin is above Meta’s (formally Facebook) capitalization and just below Berkshire Hathaway’s overall valuation. Despite Losing Over 16% in a Month, Bitcoin Is Still the 10th Most Valuable Asset Worldwide The leading crypto asset bitcoin ( BTC ) has had a rough few weeks in terms of market prices dropping. A month ago today, BTC was 16.4% higher in USD value as the recent stock market carnage and the Terra LUNA and UST fiasco contributed to bitcoin’s losses. However, in terms of market dominance, BTC ’s market capitalization among more than 13,000 cryptocurrencies is now over 44% of the $1.36 trillion crypto economy. While BTC is the number one leading crypto asset today in terms of market valuation, the crypto asset’s market cap makes it the tenth

PRESS RELEASE. CA GameFi Inc., (headquartered in Shibuya-ku, Tokyo, Japan; Taro Yamamoto, Represent ative Director; hereafter CA GameFi), a subsidiary of CyberAgent Inc. (headquartered in Shibuya-ku, Tokyo, Japan; Susumu Fujita, Representative Director; listed on the TS E’s fist section, Stock Code 4751; hereafter CyberAgent), announced the establishment of a new NFT project “Project TB,” and released its teaser website. Announcement of “Project TB” “Project TB” is a NFT project developed by the game business sector of CyberAgent, one of Japan’s largest mobile game developers with sales of 262.7 billion yen ($2.07 billion) in 2021. The project will revolve around GameFi, utilizing the know-how and human resources that the firm owns. With a track-record of producing numerous original titles, CyberAgent Group’s game business will develop a variety of original IP with its unique strategy. In addition to the participation of members with experience in producing hit titles in the Cyber

The new Terra blockchain Phoenix-1 has been operating since Saturday morning May 28, 2022, and on that day, millions of new LUNA tokens were dispersed to luna classic (LUNC) and terrausd classic (USTC) holders. However, on Tuesday the Terra development team revealed that some Terra token owners “received less LUNA from the airdrop than expected,” and developers are “actively working on a solution.” Terra LUNA Airdrop Suffers From Miscalculation Error — Devs Plan to Offer a Solution On Monday, May 30, 2022, Bitcoin.com News reported on the new Phoenix-1 blockchain and the native token called LUNA. The old chain has been rebranded and is now known as Terra Classic, and the old chain’s native tokens have also been renamed with the term “classic.” Luna classic (LUNC) and terrausd classic (USTC) are still listed on a number of exchanges as tradeable crypto assets. The new LUNA token jumped more than 85% in value on Monday, reaching a high of $11.45 per unit but on Tuesday, LUNA is tradi

WAVES prices surged by almost 60% on Tuesday, leading gainers in crypto markets during today’s session. This move took prices to a 20-day high, and came as AXS also rallied, climbing by over 25% earlier in the day. WAVES WAVES was one of Tuesday’s biggest gainers, as prices rose by nearly 60% earlier in today’s trading session. Following recent lows, and a bottom of $6.00 to start the week, WAVES/USD rose to an intraday peak of $10.15 today. Tuesday’s surge comes after prices continued to rise from last week’s floor of $3.86, which was WAVES’ lowest level since January 2021. From trading at support, WAVES now looks set to hit resistance which is at $12.30, and has not been reached since May 11. Despite gains fading throughout the session, prices are still currently trading at their highest point since this date, and as of writing sit at $8.69. The 14-day RSI is hovering at a two-month high, and is slightly below its own ceiling at 53.80, which must be broken for WAVES bulls to

For a few weeks now, bitcoin sentiment stemming from the Crypto Fear and Greed Index (CFGI) has been in the “extreme fear” range. While bitcoin gathered some gains on Monday, the CFGI is still in the “extreme fear” position with a ranking score of 16 out of 100. Crypto Fear and Greed Index Remains in ‘Extreme Fear’ Approximately 45 days ago, the Crypto Fear and Greed Index (CFGI) hit the “extreme fear” range with a score of 22 . That day, on April 15, the 24-hour bitcoin price range was between $39,823.77 and $40,709.11 per unit. Since then markets tumbled even lower and on May 12, the value of BTC tapped a low at $25,401, which was lower than the previous bottom last summer in July. If someone purchased BTC on May 12, today they would be up more than 24% against the U.S. dollar. Despite the gains during the past two weeks, the CFGI is still in the “extreme fear” zone and the ranking is even lower than it was on April 15. At the time of writing, the CFGI ranking score is 16 out

ETH briefly rose above $2,000 on Tuesday, as crypto bulls were once again present in today’s market session. BTC was also higher, with the world’s largest cryptocurrency climbing to its highest point in nearly three weeks. Bitcoin Bitcoin rose to its highest level in nearly three weeks on Tuesday, as crypto prices continued to rally, following recent losses. Following a low of $29,363 to start the week, BTC /USD surged to a peak of $31,949.63 earlier today. This peak is the highest level bitcoin has traded at since May 9, when markets were on a four-day downward spiral from $40,000. After an attempted breakout of its $30,500 resistance level on Monday, today has seen this point easily surpassed. However, it appears as if price uncertainty is already creeping in. Looking at the chart, you can see we are now below earlier highs, with the 14-day RSI (relative strength index) also tracking at 50. Relative strength hasn’t moved from this point in nearly two months, but should we s

A VC company founded by former Binance employees, Old Fashion Research, has announced the launch of a new crypto fund in the midst of the current downturn the market is facing. The fund, which will have $100 million at its disposal, will focus resources on metaverse investments and in carrying crypto projects to emerging markets in areas such as Latam. Old Fashion Research Launches $100 Million Fund Some companies are still putting funds into cryptocurrency projects, and are optimistic about the future of the industry even with the recent slump that some economies — traditional and crypto — are currently facing. Old Fashion Research (OFR), a venture company that was launched in 2021 by former employees of Binance, is one of them. The company , whose name is derived from the well-known cocktail, has announced the launch of a new crypto-based fund to focus on the metaverse, and in bringing cryptocurrency adoption to emerging markets, like Latam. Ling Zhang, one of the managing part

PRESS RELEASE. Miami, Florida. – Vybe, LLC announced today that they are building an app that lets people mine their social media for cryptocurrency. “What if you earned crypto for every like you earned on social media?” Vybe Business Development Manager Blake Marum said, “That’s what Vybe does. It connects your content creator sites to a cryptocurrency wallet and automatically deposits VYBE into your wallet for every like you get on social media.” VYBE is a token, or Algorand Standard Asset (ASA), on the Algorand blockchain. It operates like Algo, and has been verified by Algorand’s official wallet, Pera. “The app disperses 222,603 VYBE every six hours for 20 years,” Vybe Lead Developer, Ravi Dhar, explained, “It calculates the total number of likes, posts, followers and other metrics that each user gets in six hours and awards them a proportion of this mining pool. So it measures content quality. The more likes you get from the world, the more VYBE you get from the app. Users a

PRESS RELEASE. 30th May 2022, Dubai, United Arab Emirates: Galaxy Racer (GXR), a transmedia powerhouse focused on e-sports, content creators, music, and sports, headquartered in Dubai, is excited to reveal its partnership with, and investment in, the Quint ecosystem’s token, QUINT. Galaxy Racer invested US$25 million into QUINT, making it the first e-sports and lifestyle organisation to invest a significant sum into a cryptocurrency ecosystem. The partnership will also see Quint become GXR’s ‘Native Ecosystem Token Partner’. The e-sports industry has seen a considerable rise in cryptocurrency partnerships, where the majority only include category exclusivity, branded segments, and media placements. In an industry-first, Galaxy Racer will integrate $QUINT into its website’s payment system and explore ways the token can be used across the organisation’s numerous divisions. Quint is the first ecosystem to bridge the metaverse with the real world, creating a real-world utility to boo

Cardano was nearly 15% higher on Monday, as crypto markets were mainly in the green to start the week. Despite gains from ADA , HNT was one of the biggest movers today, as it rose by over 20%, hitting its highest point in over a week. Cardano ( ADA ) ADA rallied on Monday, as it rose by nearly 15% on the day, following three back-to-back sessions of gains. Today’s rally was the most notable from the past two days, and resulted in prices surging to their highest level since May 23. This recent run began following a false breakout of support at $0.4600, with prices now rallying to an intraday high of $0.5449 earlier today. Looking at the chart, today’s peak has taken ADA /USD near its resistance point of $0.5580, which hasn’t been broken since May 18. The 14-day RSI is also hovering around its own ceiling at 44.60, and it is unlikely there will be any further rallies, unless this obstacle is overcome. Helium (HNT) Whilst ADA was one of the most notable movers on Monday, due to

A survey conducted recently by the Center for Citizen Studies of the Francisco Gavidia University, a private institution in El Salvador, has found that more than half of the Salvadorans surveyed still prefer the dollar over bitcoin as legal tender. Bitcoin, which has been pushed by Salvadoran president Nayib Bukele, has in large part not been received positively by the population eight months after its approval as legal tender. Salvadorans Still Unsure About Bitcoin as Legal Tender Citizens of El Salvador are still not sure about the use and adoption of bitcoin as legal tender in the country. A new survey conducted by the Center for Citizen Studies of the Francisco Gavidia University has found that more than half of the Salvadorans (62.3%) surveyed disagree with the approval of bitcoin as legal tender, having a preference for the dollar. The survey involved 1,306 interviews across the country, and sought to evaluate the people’s perception of the management of the nation by Salvad

Bitcoin rose above $30,000 to start the week, with bearish sentiment marginally fading as we head into June. ETH also rallied on Monday, however the world’s second largest cryptocurrency continued to hover below $1,900. Bitcoin Following almost five days trading below $30,000, BTC finally surged, with prices climbing to their highest point in over two weeks. So far today, we have seen BTC /USD hit a high of $30,806.86, which is its highest level since May 16. Today’s peak comes following three consecutive days of gains, which began near the recent support point of $28,800. As a result of this bullish momentum, bitcoin broke out of its ceiling of $30,500, and as of writing is just marginally below this point. Bulls who entered in the last few days are likely securing profits at this resistance point, which has often been a point of contention. The 14-day RSI is also currently tracking at a multi-week high of 46, and may move higher until it finds the next ceiling at 49. Ether

Crypto exchange Binance has received regulatory approval from Italy’s financial regulator to operate as a cryptocurrency service provider in the country. “Clear and effective regulation is essential for mainstream adoption of cryptocurrencies,” said Binance CEO Changpeng Zhao. Binance Now Licensed in Italy Binance announced Friday that Binance Italy “has received regulatory approval” through registration as a Cryptocurrency Service Provider with the Organismo Agenti e Mediatori (OAM), as required by the Italian legislation on crypto assets. The announcement states: The registration of Binance Italy … allows the company to offer crypto products to its customers in Italy. Binance Italy, established in recent months, is the legal entity of the Binance Group in Italy. Earlier this month, Binance said it has received approval from the French financial regulator , the Autorité des marchés financiers (AMF), to operate as a registered Digital Asset Service Provider (DASP). The crypto

Hedge fund manager Michael Burry, famed for forecasting the 2008 financial crisis, has warned of a looming consumer recession and more earnings trouble. He cited falling U.S. personal savings and record-setting revolving credit card debt despite trillions of dollars in stimulus money. Michael Burry’s Recession Warning Famous investor and founder of investment firm Scion Asset Management, Michael Burry, warned on Friday about a looming consumer recession and more earnings trouble ahead. He is best known for being the first investor to foresee and profit from the U.S. subprime mortgage crisis that occurred between 2007 and 2010. He is profiled in “The Big Short,” a book by Michael Lewis about the mortgage crisis, which was made into a movie starring Christian Bale. Burry explained on Twitter Friday: US Personal Savings fell to 2013 levels, the savings rate to 2008 levels – while revolving credit card debt grew at a record-setting pace back to the pre-Covid peak despite all those t

Allianz Chief Economic Advisor Mohamed El-Erian says the Federal Reserve will have to “decide between two policy mistakes.” One risks triggering a recession and the other could prolong inflation well into 2023. “I think the time has passed for a soft landing,” the economist stressed. Mohamed El-Erian on Inflation, Recession, and the U.S. Economy Economist Mohamed El-Erian discussed where the U.S. economy is headed and the Federal Reserve’s plan to bring inflation under control in an interview with Bloomberg Friday. El-Erian is Chief Economic Advisor at Allianz, the corporate parent of PIMCO, one of the largest investment managers, where he was CEO and co-chief investment officer. He is also the president of Queens’ College, Cambridge University. He was asked what’s feasible for Federal Reserve Chairman Jerome Powell under the current economic environment. The economist replied that “at best,” it is “what Chair Powell called a ‘softish’ landing, and the ‘ish’ is really important.”

A proposal to permit companies to use cryptocurrency in cross-border settlements has made its way to a draft law designed to regulate Russia’s crypto space this year. According to a press report, the finance ministry has introduced a number of revisions to the legislation it has been working on in the past few months. Changes to Cryptocurrency Bill Can Make International Coin Payments Possible in Russia The Russian Ministry of Finance has revised its draft law “On Digital Currency” to reflect various suggestions by other government departments and agencies, the business daily Vedomosti unveiled, quoting government sources. The amendments have been coordinated with the ministries of economy, digital development, internal affairs, the Federal Tax Service, and Russia’s financial watchdog, Rosfinmonitoring. The one major institution missing from that list is the Central Bank of Russia, which remains opposed to any legalization of cryptocurrencies like bitcoin and respectively disagrees

A non-fungible token (NFT) collection called Goblintown is capturing millions in sales, as the NFT project has recorded $22.85 million in sales this week surpassing Otherdeed’s $20.73 million. At the time of writing, Goblintown obtained $2.26 million in sales during the past 24 hours, and the collection’s floor value jumped 103.2% higher today, to a daily high of 2.79 ether. Mysterious Free-to-Mint Goblintown NFT Collection Captures Millions The latest NFT collection turning heads this week is a project called Goblintown , an NFT compilation consisting of 9,999 goblins. One reason the project getting noticed is because the NFTs were minted for free and then they gained significant real-world value over time. Without any frills, major promotions, or commercial hype, by May 23, 2022, Goblintown’s floor value was 0.5 ethereum (ETH) , and its increased 458% to 2.79 ETH by Sunday evening on May 28. The project officially launched on May 22 and the only way people heard about it was thr

Authorities in Belarus have mastered the seizure of cryptocurrencies, the head of the country’s Investigative Committee revealed in a recent interview. The high-ranking law enforcement official claims the state has already confiscated crypto assets worth millions of dollars. Companies Allegedly Help Belarus Government With Crypto Seizure Belarus had to deal with the challenge of how to seize cryptocurrencies when they were first used in drug trade and later economic crimes, Dmitry Gora, who heads the nation’s Investigative Committee, told the state-run ONT channel. He added that law enforcement agencies had to find a way to confiscate such digital assets and have already seized crypto worth hundreds of millions of Belarusian rubles (millions of U.S. dollars). The former Soviet republic, a close ally of Russia, legalized various crypto activities with a presidential decree which went into force in May 2018. The document introduced tax breaks and other incentives for crypto business

Following the demise of the Terra-based stablecoin UST, the fiat-pegged token DAI has become the largest decentralized stablecoin in existence today. Moreover, Makerdao has regained the decentralized finance (defi) protocol’s position as the top defi protocol in terms of total value locked (TVL). Makerdao’s DAI Regains the Top Decentralized Stablecoin Position This month, it’s quite clear that the Terra LUNA and UST fallout has rippled across defi and the crypto ecosystem in general. Furthermore, the Terra implosion has allowed the stablecoin DAI to regain its position as the largest decentralized stablecoin in terms of market capitalization. DAI is the fourth largest stablecoin but the top three ( USDT , USDC, BUSD) are centralized stablecoin products. DAI is issued by the Makerdao ( MKR ) project and unlike an algorithmic stablecoin like UST, DAI leverages an overcollateralized loan and repayment process. Today, DAI’s market valuation is $6.24 billion but the stablecoin’s mar

From a desperate investor’s ill-advised visit to Terra co-founder Do Kwon’s house resulting in an arrest, the announcement of a new Terra network, and blockchain talk at Davos, to predictions of U.S. economic collapse if inflation isn’t reigned in quickly, there’s no shortage of action-packed crypto stories this past week. Without further ado, this is the Bitcoin.com News Week in Review. LUNA Investor Arrested for Knocking on Do Kwon’s Door After Losing $2.4 Million in Terra Crash A crypto investor has been arrested after knocking on Do Kwon’s door following the collapse of cryptocurrency terra (LUNA) and stablecoin terrausd (UST). He lost about $2.4 million and is now under investigation by the South Korean police. “I felt like I was going to die,” he said about losing his investments. Read More A New Terra Network Is Coming With Support From Major Exchanges, LUNA and UST Holders Eligible for Airdropped Tokens According to a recent announcement from the Terra blockchain team,

On Saturday, May 28, 2022, LUNA classic and UST classic holders received an airdrop consisting of new LUNA 2.0 tokens based on two blockchain snapshots. The crypto asset’s first recorded value at 5 a.m. (ET), was $14.31 per unit and it hit an all-time high (ATH) roughly 20 minutes later at $18.87 per LUNA. LUNA has dropped more than 70% as it traded for $4.20 per unit at 11:00 a.m. on Saturday. LUNA 2.0 Launches The new LUNA token is now trading as the crypto asset was airdropped to LUNA classic (LUNC) and UST classic (USTC) holders. Presently, there’s a maximum supply of 1,000,000,000 LUNA coins but the current amount of tokens in circulation is unknown. LUNA is currently seeing the most activity on the trading platform Okx and 24-hour metrics indicate LUNA has seen a price range between $18.87 and $4.20 per unit. Other exchanges seeing LUNA trading activity include Gate.io, and MEXC Global. “Luna2” and “Luna 2.0” have been trending on social media during the past 24 hours as h

DOGE rose on Saturday, following yesterday’s tweets from Elon Musk confirming that Spacex could soon accept the memecoin as a payment option for merch. Tezos was also higher to start the weekend, as it rose by nearly 5%. Dogecoin (DOGE) DOGE was one of the most notable movers in crypto markets on Saturday, coming as traders continued to buy the memecoin following a recent tweet from Elon Musk. As we covered yesterday, Musk stated that Spacex merch will soon be available to purchase using DOGE. DOGE/USD hit an intraday peak of $0.08538 on the news, pushing prices to an 11-day high in the process. This move saw the memecoin hover marginally below its resistance of $0.08500, however as traders moved in to secure profits, some of these earlier gains were lost. As of writing this, DOGE is now trading at $0.08124, which is close to its recent support level of $0.08080. Price strength still remains elevated despite the surge easing, with the RSI hovering above its resistance at 35.5

Bitcoin bears re-entered the marketplace on Saturday, as prices moved closer to a multi-week low to start the weekend. BTC once again fell below $29,000, whilst ETH continues to move lower, and now hovers around $1,750. Bitcoin Following a brief rebound on Friday, BTC once again moved lower, with prices falling under the $29,000 mark to start the weekend. Yesterday saw BTC /USD hit an intraday peak of $29,335.03, however with bears re-entering the market, prices fell to a low of $28,326.61 earlier today. Today’s move sees bitcoin fall below its current support level of $28,800, and push price closer to a 16-day low below $27,700. Overall, BTC is down over 1% in the last seven days, with markets mainly consolidating during that period. Many now believe that after bearish stints in April and May, we might have seen the worst of the selling in crypto, with a potential for a slight rebound in June. The 14-day RSI is currently tracking at a floor of 35. Should this break we coul

PRESS RELEASE. In another groundbreaking achievement, the blockchain-based metaverse platform Dvision Network has just announced its official onboarding on Binance Custody. As such, Binance’s custody services arm will support deposits and withdrawals of Dvision’s native token, DVI, on its platform. The support for DVI token on Binance Custody will be provided in a cross-chain manner, adding support for both ERC-20 and BEP-20 versions of the Dvision’s native token. What is there to know? Through the Binance Custody’s official Twitter account, it has been announced that it is currently accepting DVI token deposits and withdrawals for Dvision Network on its custody service. Binance Custody ’s platform is undergoing an independent SOC 2 audit to validate its operational security. With that in mind, Binance employs safe MPC (multi party computation) to disperse control over client funds, thereby significantly reducing the dangers associated with centralization. Moreover, Dvision Netw

Authorities in Russia are mulling over the possible use of digital currencies for international payments, a high-ranking official from the finance ministry has indicated. If recognized as property, he noted, cryptocurrency can be utilized in barter deals with foreign partners. Finance Ministry Suggests Russia May Employ Crypto in International Trade The possibility of using cryptocurrencies in international settlements is under consideration at the Ministry of Finance of Russia since the country’s access to the traditional payment channels is limited, Ivan Chebeskov, director of the ministry’s Financial Policy Department announced, quoted by the Interfax news agency. Speaking at a forum organized by the ruling United Russia party, Chebeskov revealed that the Minfin is actively discussing the employment of digital currency in barter transactions, if it is recognized as property in the Russian Federation. The topic deserves attention, the official emphasized, as Russia is restricted