Crypto Ping Pong. Winter

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BTC is now trading around $20,450, ETH is trading around $1,100

💪 Bitcoin dominance: 44,12%

📉 Total Cryptocurrency Market Cap: $0,886 tr

😲 Fear and greed index: 11 (Extreme Fear)

🚀 Gainers(Top-100)

Waves (WAVES) +37.01%

Shiba Inu (SHIB) +16.09%

Zilliqa (ZIL) +11.45%

😭 Losers(Top-100)

ApeCoin (APE) -15.35%

Compound (COMP) -10.66%

Chainlink (LINK) -9.65%

Ukraine Sells Donated CryptoPunk NFT for $100K to Support War Effort

Ukraine has 💰sold CryptoPunk #5364, the highly valued non-fungible token (NFT) it received as a 💸donation in early March during its fundraising campaign in its 💣war against Russia.

Alex Bornyakov, the country’s deputy minister of digital transformation, 📢announced the sale in a Monday tweet. The NFT was 💸sold to an 👀anonymous buyer for 90 ETH, worth roughly $100,000 at the time of writing. The Punk was estimated to be worth as much as $260,000 when it was first transferred to Ukraine’s Ethereum wallet in March before the price of ETH began to 📉drop significantly.

Vitalik Buterin: Stock-to-Flow Bitcoin Price Model 'Really Not Looking Good Now'

Ethereum creator Vitalik Buterin has once again hit out at the much-discussed stock-to-flow (S2F) price model for Bitcoin, calling it "harmful."

💭 Quoting a Tuesday tweet by Ethhub co-founder Anthony Sassano, who described stock-to-flow “an epic failure,” Buterin 😌agreed that the price model “is really not looking good now.”

BlockFi Secures USD 250M Credit Line from Bankman-Fried's FTX

Major crypto lender BlockFi 📢said it 🛡️secured a USD 250m loan from the FTX 💱 exchange in an attempt to bolster its balance sheet.

The revolving credit facility, which is a type of credit, "are intended to be contractually subordinate to all client balances across all account types (BIA, BPY & loan collateral) and will be used as needed," Zac Prince, CEO of BlockFi, said. According to the CEO, this agreement also "unlocks future collaboration" between BlockFi and FTX.

Bitcoin Investors Lose Record $7.3 Billion in Three Days

The Bitcoin selloff from Thursday to Saturday marked the largest realized 📉loss ever for the top cryptocurrency by market cap, with investors recording $7.3 billion of 📉locked-in losses.

About 555,000 Bitcoin were 💰traded in the $18,000 to $23,000 range during the three-day span, with many sellers having originally purchased BTC at much higher prices, according to reseaarch firm Glassnode.

Elon Musk Reiterates Support for Dogecoin at Qatar Economic Forum

Tesla and SpaceX CEO Elon Musk reiterated his 🤝support for meme coin cryptocurrency Dogecoin, albeit evasively, at this year’s Qatar Economic Forum in Doha.

“I intend to personally support Dogecoin, because I just know a lot of people who are not that wealthy who have encouraged me to buy and support Dogecoin so I’m responding to those people,” he 📢said, in a video interview with Bloomberg News Editor-in-Chief John Micklethwait.

The Crypto Crash is Sinking GPU Prices as Mining Profitability Plummets

🎮Gamers rejoice! While crypto investors look for the bottom to the ongoing meltdown, the cost of graphics cards has steadily 📉decreased amid the ongoing crypto market 📉📉crash.

"GPU prices dropped 15% in May, and we've seen similar 10-15% drops each month for the past several months," PC news and review website Tom's Hardware reported on Wednesday. "We saw the best graphics cards come back into stock (at retail) as GPU mining profitability has plummeted and that was before Bitcoin and Ethereum crashed again."

FTX Pulled Out of LA Angels MLB Deal As Crypto Winter Bites: Report

Cryptocurrency e 💱 xchange FTX ❌withdrew from talks to sponsor a jersey patch with the MLB's Los Angeles Angels, according to a New York Post report citing sources with direct knowledge of the negotiations.

A spokesperson told Decrypt: "Contrary to recent reports, this opportunity with the Angels was discussed months ago and we declined early on, as it wasn’t the right fit for our marketing goals. This is one of many similar opportunities from teams that we’ve declined early on in the process and this decision was not made as a result of the recent market downturn."

Conclusion: All companies are trying to survive and changing staff or re-crediting. All of this is reminiscent of a crypto winter. Цinter in June.

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