Your Favorite Crypto Digest From TradeCrypto.com

Market is down. BTC is now trading around $31,500, ETH is trading above $2,000.

💪 Bitcoin dominance: 42.31%

📉 Total Cryptocurrency Market Cap: $1,565 tr

😲 Fear and greed index: 12 (Extreme fear)

🚀 Gainers(Top-100)

UNUS SED LEO (LEO) +6.12%

Maker (MKR) +0.31%

😭 Losers(Top-100)

Terra (LUNA) -85.11%

TerraUSD (UST) -65.35%

STEPN (GMT) -28.92%

Cardano's Hoskinson Claps Back at Terra's Kwon Over 'Negative Correlation' Tweet

Cardano founder Charles Hoskinson took a swipe at Terra founder Do Kwon as the price of Terra’s Terra (LUNA) token 📉 crashed to $24 and the TerraUSD (UST) stablecoin depegged to $0.70 yesterday, before recovering.

El Salvadoran President Nayib Bukele tweeted Monday that the Latin American country 💸 bought another 500 Bitcoin (around $15.3 million) during the current market correction, putting the total number of BTC owned by El Salvador at over 2,300 (around $72.5 million).

“El Salvador just bought the dip!” Bukele tweeted, adding that his government purchased at an average price of $30,744.

Nearly half of all Bitcoin holders are underwater today as the price of the world’s largest cryptocurrency continues 📉  to crash. It briefly plunged below $30k in the early hours on Tuesday, before recovering slightly.

Starker still, data from IntoTheBlock suggests a staggering 47.2% (or 21.68 million) of wallets holding Bitcoin are currently down on their investment, forming a slight majority compared with the 46.5% (21.39 million wallets) which are in the green. Roughly 6.3% of holders, or 2.88 million wallets, are neither up nor down.

Binance Halts LUNA Withdrawals as Terra Token Plummets 50%

Binance 📢 announced that withdrawals for Terra’s LUNA and UST tokens had been “temporarily suspended” yesterday.

The firm halted withdrawals “due to a high volume of pending withdrawal transactions,” adding that it would restart withdrawals once it deemed “the network to be stable and the volume of pending withdrawals” had reduced. Binance’s actions come amid an incredibly volatile period for LUNA and UST.

Pop culture icon 🎼 Madonna and the digital artist Beeple announced a three-video NFT collaboration today featuring a ❌🩲 naked, CGI Madonna giving birth. It’s called “Mother of Creation.”

“We set out to create something that is absolutely and utterly connected to the idea of creation and motherhood,” Madonna said of her NFTs, which are unique blockchain tokens that prove ownership of an asset, in this case a 📼 video.

Treasury’s Yellen Highlights Terra Collapse in Call for Stablecoin Legislation

Treasury Secretary Janet Yellen today said that stablecoins need to be ❗ regulated by this year. In a hearing Tuesday, Secretary Yellen said that although digital assets may “promote innovation,” they could also “present risks to the financial system.” 

The Treasury Secretary used the example of Terra, a blockchain which has a native stablecoin, UST. Yesterday, the stablecoin slipped below its dollar peg to $0.65.

Bitcoin Exchange Kraken Exploring Stocks as Part of 'Super Wallet': CEO Jesse Powell

🔥 Companies like Robinhood, Block, and eToro are already offering crypto alongside their stock offerings, so it's only a matter of time before crypto brokerages begin to offer stocks. That's the opinion of Jesse Powell, the CEO of early Bitcoin exchange Kraken and a well respected veteran of the crypto scene.

On the latest episode of Decrypt's gm podcast, Powell 📝 noted that crypto exchanges are moving towards offering a "super wallet" of sorts that allows consumers to 💸 buy or trade everything from crypto to NFTs to stocks.

Conclusion: The market is bearish. There are projects that are not spared. Luna is a perfect example of that, the crypto market is hungry for earnings and predators like Cardano are not forgiving. Despite the fact that the panic of these days is the most extreme, still people buy NFT and even crypto.

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What is Crypto Ping Pong digest?

So all the TC lads here are working quite hard and from time to time we gotta chill.

That’s why we got ourselves a ping pong table to complete our lazy-bag-stuffed chill zone. As you all know our main hobby is Crypto, so even while we play we don’t really shut up about it. Ever.

During the game, we have a rule not to discuss serious topics like analytics, predictions, etc.