Luna

🚨𝗦𝗽𝗲𝗰𝗶𝗮𝗹 𝗨𝗽𝗱𝗮𝘁𝗲: 𝗧𝗵𝗶𝘀 𝘄𝗲𝗲𝗸 𝗶𝗻 𝗖𝗿𝘆𝗽𝘁𝗼🚨

This week has been a particularly turbulent week in the crypto markets. The total cryptocurrency market cap started at $1.58 trillion, and reached lows of $1.13 trillion on Thursday, a 27% decrease, however this does not paint a full picture of what has happened.

𝗪𝗵𝗮𝘁’𝘀 𝗵𝗮𝗽𝗽𝗲𝗻𝗲𝗱? 🤔

Since the beginning of May, many cryptocurrencies have seen their values plummet, and continue to do so. $BTC (+0.81%) is 17% less than a week ago, $ETH (+0.08%) 25% down, $BNB (+1.69%) and $XRP (+17.74%) down 21% and 28% respectively, but they aren’t the most high-profile losses.

🟥 $BTC (+0.81%) Bitcoin, $30,093.50 (🔽-16.88%)*

𝗪𝗵𝗼 𝗮𝗿𝗲 𝘁𝗵𝗲 𝗯𝗶𝗴𝗴𝗲𝘀𝘁 𝗹𝗼𝘀𝗲𝗿𝘀? 📉

Terraforms Labs, whose main coins are TerraUSD $UST (+0.26%) and Terra $LUNA have seen horrible drops. $UST (+0.26%) is meant to be pegged to the US Dollar and has dropped by almost 83%* in value, whereas $LUNA (+1.89%) has effectively had its entire value whiped out, trading at a fraction of a cent. Binance has gone as far as banning trading of these to Terraforms protocols.

🟥 $UST (+0.26%) TerraUSD, $0.1705 (🔽-82.94%)*

🟥 $LUNA (+1.89%) Terra, $0.0000516 (🔽-99.99%)*

𝗪𝗵𝗮𝘁 𝗮𝗯𝗼𝘂𝘁 𝗖𝗼𝗶𝗻𝗯𝗮𝘀𝗲?

This week Coinbase $COIN (-7.73%) , one of the world’s largest cryptocurrency exchanges, released their quarterly earnings, and they did not meet analyst expectations at all.

🟥 EPS: -$1.26 vs $0.91 expected (-238.20%)

🟥 Revenue: $1.17bn vs $1.48bn expected (-20.98%)

They saw a 19% drop in monthly users. What’s perhaps more of a worry to investors and users alike is the update on the platform’s risk. They are warning that in the event of bankruptcy, its users might lose all the cryptocurrency stored in their accounts (more here: https://bit.ly/3FKFkFW)

𝗛𝗼𝘄 𝗵𝗮𝘀 𝘁𝗵𝗶𝘀 𝗮𝗳𝗳𝗲𝗰𝘁𝗲𝗱 𝘁𝗵𝗲 𝘀𝗼-𝗰𝗮𝗹𝗹𝗲𝗱 ‘𝗖𝗿𝘆𝗽𝘁𝗼 𝗕𝗿𝗼𝘀’?

Tesla $TSLA (+0.05%) CEO, Elon Musk, Coinbase $COIN (-7.73%) CEO and trader Brian Armstrong, MicroStrategy chief Michael Saylor, and twins Tyler and Cameron Winklevoss are effectively the ‘horsemen of crypto’, or the ‘Crypto Bros’ and they’ve seen their cumulative crypto wealth slashed by $20bn during this crash.

$TSLA (+0.05%) ‘s $1.5bn gamble on Bitcoin has fallen flat; Saylor’s wealth has fallen from $8.5bn six months ago to potentially less than $1bn (just a measly millionaire😬) and $COIN (+0%) has traded at 84% less than at their IPO date.

🟥 $TSLA (+0.05%) Tesla, $728.00 (🔽-17.83%)**

🟥 $COIN (-7.73%) Coinbase, $58.50 (🔽-48.00%)**

*Coin prices: https://coinmarketcap.com/ at 10:00 CEST 13.05.2022. Percentage changes are 7 days, not daily.

** Percentage changes are 5 days, not daily.

𝗴𝗲𝘁𝗾𝘂𝗶𝗻 𝗗𝗮𝗶𝗹𝘆 𝗦𝘂𝗺𝗺𝗮𝗿𝘆 𝟭𝟬.𝟬𝟱.𝟮𝟬𝟮𝟮

Hello getquin!

I saw a funny post here on this platform about inflation, and boy oh boy does that remain to be relevant. It’s a good post, I think you should follow him, if someone could tag him or the post in the comments. Also don’t forget to tag @ccf_en in good posts 👍

𝗔𝘀𝗶𝗮🌏:

1. China’s internet users pay close attention to the crypto crash

Despite cryptocurrency trading being banned in China, many internet users remain interested in the ups and downs of the crypto market. Many have also found workarounds and continue to trade a range of tokens. Yesterday, the hashtag #luna made it into the top 10 keywords on Weibo $9898 (-1.72%) , China’s equivalent of Twitter $TWTR

🟥 $LUNA Terra, $30.98 (🔽-45.88%)

Link: https://tcrn.ch/3PbllUR

𝗔𝗳𝗿𝗶𝗰𝗮🌍:

2. Angola’s first IPO to spur wave of listings🇦🇴

Next month, BAI, Angola’s largest private bank, will be the first ever initial public offering (IPO) on Angola’s BODIVA stock exchange. This is expected to unlock a wave of new listings according to the exchange’s chief executive, as Angola pushes forward with their privatisation drive. The OPEC member state has an ambition reform programme to modernise the economy and attract private investment.

Link: https://reut.rs/38juVEz

𝗔𝗺𝗲𝗿𝗶𝗰𝗮𝘀🌏:

3. National average for gasoline hits record $4.37 a gallon

Gasoline prices in the USA have reached record levels, with oil prices holding steady above $100 a barrel, leading to inflation across the economy. Nationwide, gasoline prices are averaging $4.37 a gallon, with some states having prices as high as $6. Although the West Texas Intermediate crude futures (US oil benchmark) is trading around the $100 per barrel mark - a lot lower than March highs of $130 - labour constraints and supply chain issues have contributed to these record high prices.

🟥 Oil (WTI Futures), $99.78/barrel (🔽-3.21%)

Link: https://cnb.cx/397wp4O

𝗘𝗮𝗿𝗻𝗶𝗻𝗴𝘀 𝗰𝗮𝗹𝗹𝘀🗣:

1. AMC

🟩 Loss per share: -$0.65 vs -$0.67 expected (+2.85%)

🟩 Revenue: $785.70m vs $743.43m expected (+5.69%)

Although they exceeded expectations, not even Spider-Man and Batman releases could make $AMC Entertainment profitable during Q1’22. Having released their Q1 earnings after market close, shares rose by more than 4% after hours

https://cnb.cx/392eU65

2. Peloton

🟥 EPS: -$1.22 vs -$0.92 expected (-33.03%)

🟥 Revenue: $1.13bn vs $1.15bn expected (-1.51%)

Losses were expected, however Peloton $PTON (+11.82%) still missed expectations. Their own outlook for the current quarter is weak, as they expect planned subscription price increases will further decrease demand.

https://cnb.cx/3yso0Uv

3. Novavax

🟥 EPS: $2.56 vs $2.74 expected (-6.43%)

🟥 Revenue: $703.97m vs $873.04m expected (-19.37%)

Despite reporting its first profitable quarter, Novavax $NVAX (+2.36%) still fell behind analyst expectations. The company reiterated its 2022 revenue guidance of $4bn to $5bn, however they have not yet received an order from Covax, the international partnership procuring vaccines for lower-income nations.

https://cnb.cx/3N5E4PS

𝗦𝘁𝗼𝗰𝗸𝘀 𝗼𝗳 𝘁𝗵𝗲 𝗱𝗮𝘆🔔:

🟩 TOP, $BPOST (+0.93%) Bpost SA (🔼+5.69%)

🟥 FLOP, $PTON (+11.82%) Peloton Interactive (🔽-14.65%)

🟩 Most traded, $TSLA (+0.05%) Tesla Inc (🔼+0.48%)

🟥 S&P500 (🔽-0.49%)

🟩 DAX (🔼+1.15%)

🟩 $BTC (+0.81%) Bitcoin ₿, $31,131.30 (🔼+3.50%)

Time: 18:30 CEST

Do you remember when we mentioned what a flash crash is? Well the largest ever flash crash took place on the 6th of May 2010, when large American indexes plunged by 9% within minutes, quickly recovering.