Highlights from the weekend:
- Terra rises from the dead as Bitcoin prices stay pinned below $29K
- SpaceX will now accept DOGE payments for merchandise
- Op-Ed virtual real estate and property buying in the Metaverse is booming
- Russia has second thoughts allowing crypto for international payments
- Every tenth household in Europe holds crypto, according to ECB Study
Words of Wisdom:
- Ben Todar, CEO of Moon Nation Game
- Wences Casares
- Marc Kenigsberg
On May 28th, Bitcoin encountered another hurdle as BTC/USD refused to offer both upside and downside volatility. According to financial analyst Matthew Hyland, the reversal index indicated a challenge to the overall bullish trend that was witnessed at the beginning of the year. On the flip side, Do Kwon attested to the relaunch of Terra's new chain (Terra 2.0) which aims to revive the fallen Terra (LUNA) and UST ecosystem. Terra projects are still springing back to life despite its hard hit recently.
Elon Musk recently revealed on Twitter that SpaceX will now accept Dogecoin as a form of payment, resulting in a 10% price surge for DOGE. He even went as far to say that DOGE has proven its worth as a reliable and cryptographically secure digital currency that can operate fully, even when banks can't. Is DOGE sophisticated enough to finance a commercial moon mission? Only time can tell.
Artists, musicians, and even the fashion industry are taking over the metaverse. Who’s next to follow suit? Real estate agents! Real estate agents in the metaverse and various companies are plotting to buy land on blockchain-based ecosystems in both Decentraland and Sandbox. Despite rising interest in the metaproperty scene, most investors can’t fully comprehend its value - yet. Nonetheless, digital land has many opportunities in store and is quickly becoming the subject of heated debate.
Officials in Russia are struggling with crypto market regulations and digital currency use. The Bank of Russia has proposed a strict ban on crypto trading and mining. Even the President himself summoned authorities to reach a consensus on the matter. Although the dispute is growing, the central bank is hard at work to ensure that crypto assets won't appear blank on balance sheets.
"The idea of using digital currencies in transactions for international settlements is being actively discussed."
- Ivan Chebeskov
Last but not least, a recent survey conducted by the European Central Bank (ECB) has announced that 10% of European households had purchased crypto assets. The crypto sector reached its peak at $2.9 trillion with Bitcoin still holding the lead as the biggest token. The ECB states that crypto is still unsuitable for most retail investors and has encouraged the European Union to manage and approve new rules as a matter of urgency.
Blockchain Events and Conferences
- Tuesday, May 31 (Online Event) Enterprise Blockchain Forum
- Wednesday, June 1 (Seattle, Washington) The Premier Blockchain & Web
- Thursday, June 2 (Singapore) Blockchain Fest 2022 Singapore
- Thursday, June 2 (Mumbai, India) The Cybersecurity Summit
- Monday, June 6 (Berlin, Germany) Blockchain Oracle Summit
.... and finally some memes for your morning:
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