Your Favorite Crypto Digest From TradeCrypto.com

Market is green. BTC is now trading above $25,100, ETH is trading around $1,300.

💪 Bitcoin dominance: 48,11%

📉 Total Cryptocurrency Market Cap: $1,026 tr

😲 Fear and greed index: 11 (Extreme Fear)

🚀 Gainers(Top-100)

😭 Losers(Top-100)

Nexo (NEXO) -26.05%

Сurve DAO Token (CRV) -21.02%

Fantom (FTM) -20.44%

NFT platform Candy Digital has ✔️ released another “Stranger Things” 🎮 minigame for Netflix, where players must solve riddles to 💲 earn NFTs of the stars of the show. But some fans aren’t happy.

“You think we care about NFTs?” one fan wrote, along with a GIF of a man 💥 shooting a gun. Another “Stranger Things” fan wrote off NFT technology as a “grift.” “I deeply love Stranger Things, but I’m profoundly disappointed that Netflix decided it’d be a good idea to run an NFT grift on its fans,” the fan wrote. “I’m not going anywhere near this trash.” Others called the NFTs “bullshit,” replied with vomiting emojis and crying GIFs, and even told the company to “fuck off.”

The crypto lender paused all customer withdrawals and swaps on Sunday night, citing liquidity issues. CEL quickly went off a cliff.

On Sunday night, with crypto markets already in freefall, controversial crypto lender Celsius announced it was suddenly pausing all customer withdrawals, swaps, and transfers.

The company's CEL token quickly reacted, dropping 📉 📉 📉 70% in one hour from a prior high of $0.49 earlier on Sunday down to $0.15, according to CoinMarketCap.

Treasury Secretary Janet Yellen on Thursday warned against including Bitcoin and other cryptocurrencies in retirement plans, calling them a ❗ “very risky investment”. Yellen’s comments came at a New York Times event in Washington, in response to a question about Fidelity’s April 📢 announcement that it will let workers save up to 20% of their retirement funds in Bitcoin.

Blockchain analytics platform Chainalysis has released a report 📊 analysing 📉 the crash of Terra’s stablecoin UST, concluding that it while it was a factor in the recent crypto market crash, it wasn’t the deciding factor.

Instead, the report read, “the crypto market’s recent downturn appears more closely linked to the tech market decline than to UST’s collapse.”

👨 Edward Snowden, a famous whistleblower and president of the Freedom of the Press Foundation, sees more value in cryptocurrencies in their use than as an investment. "I use bitcoin to use it. In 2013, bitcoin is what I used to pay for the servers pseudonymously," Snowden said Saturday in a virtual appearance at CoinDesk’s Consensus 2022 conference in Austin, Texas.

"Generally, I don't encourage people to put their money in cryptocurrencies as a technology, and this is what distances me from a lot of people in the community," he added.

JPMorgan (JPM) 🙏 hopes it has found a way for decentralized finance (DeFi) developers to leverage the yield-generating potential of non-crypto assets. Speaking to CoinDesk at Consensus 2022 in Austin, Texas, Tyrone Lobban, head of Onyx Digital Assets at JPMorgan, described in detail the bank’s institutional-grade DeFi plans and highlighted how much value in tokenized assets is waiting in the wings.

“Over time, we think tokenizing U.S. Treasurys or money market fund shares, for example, means these could all potentially be used as collateral in DeFi pools,” Lobban said. “The overall goal is to bring these trillions of dollars of assets into DeFi, so that we can use these new mechanisms for trading, borrowing [and] lending, but with the scale of institutional assets.”

Bitcoin (BTC)-backed 💱 exchange-traded funds (ETFs) of various types are now widely ✔️ available to investors around 🌎 the world. But the popularity of the funds varies, with investors in Australia showing almost no interest in trading the recently-launched ETFs there.

According to Arcane Research analyst Vetle Lunde, the muted interest in bitcoin ETFs among Australian investors can be partly explained by the fact that the first ETFs there launched around the same time as 📉 the collapse of LUNA and the Terra ecosystem happened.

Conclusion: It seems that the cryptocurrency market will not stabilize soon. Also, the analysis of the reasons for the fall of Terra coins is still ongoing. Officials continue to talk about how the cryptocurrency is very unreliable.

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