Russian Market

2022-05-18 10:03:08 Market Overview

BTC price trades below $30K

The Top-10 are traded in different directions:
ADA -2.1%
XRP -2%
SOL -1.6%

Market cap: $1.36T (-1.12%)
BTC dominance: 41.86% (-0.50%)
Fear & Greed Index: 12 (Extreme Fear) Open / Comment

2022-05-17 21:32:51 Santiment: Ethereum approaching opportunity zone

According to a recent report by Sentiment Insights, Ethereum may be approaching the opportunity zone, where prices usually rebound.

ETH's MVRV 90D, which measures the mid-term profit/loss of holders, is showing that we are almost into the opportunity zone, which historically saw a local bottom being developed with a decent R/R, the report reads.

Market Value to Realized Value (MVRV), indicates the sentiment surrounding an asset at any given time, determining the chances of future price movement based on probability. MVRV is a ratio that shows whether the price of an asset is fair or not. It can also be used to infer market tops and bottoms.

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t.me/therussianmarket Open / Comment

2022-05-17 16:36:18 China returns as 2nd top Bitcoin mining hub despite restrictions

According to the Cambridge Bitcoin Electricity Consumption Index (CBECI), BTC miners in China accounted for 21.1% of the total global BTC mining hash rate distribution as of early 2022, following only the United States, which produced 37.8% of the total hash rate.

In 2019, China was the world's largest Bitcoin mining country, with the local BTC hash rate power accounted for over 75%. In the summer of 2021, after the official ban on mining and crypto operations in China, the hash rate in the country plummeted to 0%. However, after just six months, the indicator recovered by more than 20% and did not drop below 18% over the analyzed period.

The data also shows a decrease in the hash rate share in Kazakhstan, from 18% in August to 13.2% in January. Canada and Russia account for 6.48% and 4.66% respectively, and the origin of 9% of the global BTC hashrate has not yet been determined.

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t.me/therussianmarket Open / Comment

2022-05-17 16:21:47 US retail sales up

US retail sales increased strongly, reflecting robust US consumer consumption capacity despite rising prices. Headline retail purchases rose 0.9% over the month, after an upwardly revised 1.4% gain in March.

Stronger consumption means stronger GDP growth which is positive for stocks. Following the solid report, stocks are moving higher and Treasuries are pulling back.

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t.me/therussianmarket Open / Comment

2022-05-17 14:24:06 Nasdaq futures up on positive news from China

US equity advances on optimism that China may ease up lockdowns. Traders are evaluating growth prospects with inflation, the Fed, and China Covid risks in focus.

Risk appetite is returning slightly but in a timid manner as investors are tempted to remove 'hedges' but large dip-buying is not seen yet, as traders await clearer signs that the market will not re-test Thursday's lows. FOMC members are expected to speak, followed by Fed Chair Powell.

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t.me/therussianmarket Open / Comment

2022-05-17 13:57:54 Terra founder Do Kwon blocks Doge founder Billy Markus on Twitter

A few days ago, Dogecoin co-founder Billy Markus called out what he referred to as "tech bros hubris" in the crypto industry. This came after the Terra's collapse. He singled out Terra’s Do Kwon as one of the "tech bros" he was talking about.

Markus also said he would like more people to respect the original intent of cryptocurrency to be a "currency that is not controlled by any single entity, that is immune to attacks, and that is decentralized." He also urged the community to recognize when things are straying away and not support those projects, clearly alluding to Terra.

Do Kwon didn't seem to like the comments and blocked Marcus, which he shared on Twitter. This is a rare occurrence especially involving influential people in the crypto and blockchain industry, since Do Kwon was also criticized by prominent trader Peter Brandt, Binance CEO Changpeng Zhao and many others who have not been blocked.

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2022-05-17 12:42:38 Grayscale adds five new tokens to its investment products and launches first ETF in Europe

On Monday, the Grayscale Bitcoin Trust announced the addition of five new tokens to its investment products, bringing the total number of products offered by the world’s largest asset management firm to 14.

The new token additions: Grayscale Basic Attention Trust (GBAT), Grayscale Chainlink Trust (GLNK), Grayscale Decentraland Trust (MANA), Grayscale Filecoin Trust (FILG), and Grayscale Livepeer Trust (GLIV).

Also Monday, Grayscale Investments announced the launch of the Grayscale Future of Finance UCITS ETF in Europe as part of its cross-Atlantic debut. The ETF will be Grayscale’s first European fund to be listed on the London Stock Exchange, Borsa Italiana, and Deutsche Börse Xetra. Moreover, the ETF will be available to trade across Europe. It will track the performance of the Bloomberg Grayscale Future of Finance Index.

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2022-05-17 10:08:15 Market Overview

BTC price trades above $30K

The Top-10 are traded in different directions:
XRP +1.03%
DOT -3.2%
ADA -0.5%

Market cap: $1.37T (-0.59%)
BTC dominance: 41.98% (+0.35%)
Fear & Greed Index: 8 (Extreme Fear) Open / Comment

2022-05-16 21:33:40 Bitcoin closes 7th red weekly candle for first time ever

Bitcoin closed its weekly candle down, making it the seventh week in a row that it has printed a weekly red candle.

Even during the bearish fall of 2014, when Bitcoin was down for 14 weeks, the first cryptocurrency experienced three green candles. Although those green candles were quite small then, they interrupted the red candles’ parade. This time is different though.

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2022-05-16 20:01:14 Man breaks into Do Kwon's house after losing 3 billion won due to UST collapse

An investigation is currently underway in Seoul against a person previously accused of trespassing by illegally entering the house of Terraform Labs' co-founder and CEO Do Kwon. He reportedly searched for Kwon but only found his wife, who later called the police.

After law enforcement found the trespasser and took him into custody, the man told reporters that he has lost from 2 to 3 billion won, which equals at least $2 million. His primary intention was to urge Kwon to take responsibility for the meltdown of his stablecoin and the project behind it, as well as for the pain it has caused on the crypto market.

Previously, Do Kwon stated on Twitter that he did not profit in any way by selling TerraUSD and LUNA during the collapse and revealed that he has spent the past few days on the phone with members of the Terra community who have been devastated by UST depegging.

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t.me/therussianmarket Open / Comment