The start of a bull market? If not, you know we'd like to

Market is green. BTC is now trading around $31,500, ETH is trading above $1,900.

💪 Bitcoin dominance: 46.83%

📉 Total Cryptocurrency Market Cap: $1,302 tr

😲 Fear and greed index: 17 (Extreme Fear)

🚀 Gainers(Top-100)

Kusama (KSM) +9.10%

Holo (HOT) +6.83%

NEM (XEM) +4.94%

😭 Losers(Top-100)

Axie Infinity (AXS) -9.82%

Cardano (ADA) -7.27%

XDC Network (XDC) -7.18%

Ethereum core developer Tim Beiko shared the news on Twitter last night: “Ethereum's longest-lived PoW testnet is moving to Proof of Stake! A new beacon chain has been launched today, and The Merge is expected around June 8th on the network.” Beiko called the 📝 news a “first dress rehearsal” for miners.

The ✔️ winning bid for the trophy was attributed to cryptocurrency exchange WhiteBit and came in the form of 500 Ethereum (ETH). In addition to the physical crystal microphone, the winner also gets a non-fungible token (NFT) featuring the 🏆 trophy.

Bitcoin Miners Under "Stress"

There are "a lot of signs of stress" in the Bitcoin (BTC) mining industry right now as the price of BTC 📉 dropped and the price of ⚡ electricity 📈 increased, Alex Brammer, Vice President for Business Development at Luxor Mining, told Wired. "Over the next 12 to 18 months, there's going to be evidence coming out on which companies are run really well and are operationally efficient and have healthy levels of debt," he was quoted as saying.

Meanwhile, according to him, publicly-traded mining companies are now trying to 💸 sell their ASICs below book value.

Mystery South Korean Company that «Worked on Terra Network» Faces Media Scrutiny

South Korean media outlets say they have unearthed evidence that a blockchain firm based in Seoul has a ❌ close 🤝 relationship with Terraform Labs – and may have been developing for the Terra network under the radar. But the plot may already have thickened – with allegations that the National Tax Service (NTS) found evidence of a “suspicious flow of transactions” between the firm and Terraform Labs when it 🔎 investigated the firms last year.

Scrutiny of Terraform has been intense in South Korea since terra (LUNA) (now LUNA classic or LUNC) 📉💥 crashed earlier this month, with the terraUSD (UST) stablecoin losing its peg.

Latin American Investors «Hoping to Ride Crypto Prices to the Moon» as Adoption Set to Continue

📝 A report on the state of crypto in the Latin America region has concluded that adoption is likely to continue 🌌 apace for the rest of the year – and will find fertile ground for 📈 growth in the world of cross-border payments and “crypto credit cards.”

The report was issued by Americas Market Intelligence (AMI), a Latin America-focused market intelligence firm. In its forecasts for the remainder of 2022, AMI claimed that while the word “cryptocurrency” would “remain synonymous with volatility,” this would “entice” some, but could “discourage” others.

Terra's newly minted luna token (LUNA) 📈 📈 📈 rallied by 39.41% on Tuesday after the token was listed on cryptocurrency exchange Binance.

At the time of writing, luna 2 was 💵 trading at $8.18, with a self-reported circulating supply of 210 million, giving it a market capitalization of $1.8 billion, according to CoinMarketCap. The token was 🚀 launched on a new blockchain dubbed Terra 2 following the depeg of algorithmic stablecoin terraUSD (UST).

Cardano’s ADA Spikes 25%, Leads Gains in Crypto Majors

Cardano’s ADA token led 💪 gains among crypto majors with a 17% 📈 rise to trade over 64 cents on Tuesday. Fundamental catalysts include a rise in the issuance of native assets on the network – over five million assets have now been minted on Cardano, 📊 data shows – and the upcoming Vasil hard fork, a network upgrade expected in ☀️ June that would increase scaling capabilities.

Price-charts suggest ADA saw support at the 45 cents level. Readings on the Relative Strength Index (RSI) – a tool used by traders to calculate the magnitude of an asset’s 💲 price move – fell to nearly 33 earlier this week, which suggested early signs of ADA bottoming out. However, the token could see 🏋️‍♂️ strong resistance at the 80 cents mark.

Conclusion: The market has been totally green last few days. Positive news is appearing more and more often on the network. Out of the failures, even the Terra began to be forgotten and announced the launch of a new version as a positive phenomenon. Have we really waited for a bull market? Or manipulators trying to corner the hamsters again?

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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.

So memes, leaks, gossips naturally come about – we collect them and share them with you in this interstellar space on our site we like to call Crypto Ping Pong digest.