CoinCodeCap's The Weekly: Issue 7
CoinCodeCap Weekly brings you an entire week’s market updates and news in one article. Got no time to stay updated during weekdays? No worries, we got your covered!
Catch the latest happenings of this week. All in one place through CoinCodeCap’s Weekly Glance. We provide you with all the week’s top stuff in crypto for your ease.
Last week, Bitcoin (BTC) followed a downward trend, anticipating that this week will be no different. On May 26th, BTC was trading at a value of $28K and if we talk about the present situation, it has reached $29K. If we analyze the data of last one month, BTC has shown 25.64% loss in its value. It was trading at $39K on April 29th, which has reduced to $29K on May 29th.
Last week, Ethereum (ETH) has also followed a similar downward trend, anticipating that this week will be no different. On May 28th, ETH was trading at a value of $1722 and if we talk about the present situation, it has reached $1807. If we analyze the data of last one month, ETH has shown 36.77% loss in its value. It was trading at $2858 on April 29th, which has reduced to $1807 on May 29th.
Is USDD Actually Stable?
The virtual currency that is native to the Tron network has been mentioned as “a cryptocurrency issued by the TRON DAO Reserve” in their white paper, which as explained by the analyst refers to it as a centralized currency and called out the abstract for being vague.
It is also mentioned in the white paper that the protocol should be “equipped with the tools to regulate the market”. Therefore, only the members hold the right to decide on the “monetary policy” for USDD. Though it stresses that USDD is pegged to UST, the abstract does not mention that the peg should be at a 1:1 rate throughout.
The Happenings
RBI to Adopt Graded Approach to Introduce Digital Currency. Here's why.
Bulgarian Crypto Trader Goes Missing under Strange Circumstances. Learn more.
Louisiana Lawmaker Proposes Bill to Conduct Studies on Cryptocurrency Campaign Donations. Read here.
JPMorgan starts using Blockchain for Collateral Settlements. Here's what's happening.
Portugal Rejects Crypto Taxation Proposals by Two Parties. Know more.
The U.S. Has Dropped The Ball on Crypto Regulation. Read here.
IMF Chief Asks Investors Not to Shun All Crypto After Collapse of LUNA, UST. Here's why.
The Charts and Dips
ONE Price Analysis May 2022. Link.
AR Price Analysis May 2022. Link.
KAVA Price Analysis May 2022. Link.
KLAY Price Analysis May 2022. Link.
Stolen/Rugged/Scammed/Hacked
The information above does not constitute investment advice, and the author does not ask you to either buy or sell any of the assets mentioned in the article.