2Annoยท

๐Ÿšจ๐—ฆ๐—ฝ๐—ฒ๐—ฐ๐—ถ๐—ฎ๐—น ๐—จ๐—ฝ๐—ฑ๐—ฎ๐˜๐—ฒ: ๐—ง๐—ต๐—ถ๐˜€ ๐˜„๐—ฒ๐—ฒ๐—ธ ๐—ถ๐—ป ๐—–๐—ฟ๐˜†๐—ฝ๐˜๐—ผ๐Ÿšจ


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.


๐—ช๐—ต๐—ฎ๐˜โ€™๐˜€ ๐—ต๐—ฎ๐—ฝ๐—ฝ๐—ฒ๐—ป๐—ฒ๐—ฑ? ๐Ÿค”


Since the beginning of May, many cryptocurrencies have seen their values plummet, and continue to do so. $BTC (-0,43%) is 17% less than a week ago, $ETH (-1,06%) 25% down, $BNB (-1,44%) and $XRP (-1,9%) down 21% and 28% respectively, but they arenโ€™t the most high-profile losses.


๐ŸŸฅ $BTC (-0,43%) Bitcoin, $30,093.50 (๐Ÿ”ฝ-16.88%)*


๐—ช๐—ต๐—ผ ๐—ฎ๐—ฟ๐—ฒ ๐˜๐—ต๐—ฒ ๐—ฏ๐—ถ๐—ด๐—ด๐—ฒ๐˜€๐˜ ๐—น๐—ผ๐˜€๐—ฒ๐—ฟ๐˜€? ๐Ÿ“‰


Terraforms Labs, whose main coins are TerraUSD $UST (+1,38%) and Terra $LUNA have seen horrible drops. $UST (+1,38%) is meant to be pegged to the US Dollar and has dropped by almost 83%* in value, whereas $LUNA (+0,55%) 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.


๐ŸŸฅ $UST (+1,38%) TerraUSD, $0.1705 (๐Ÿ”ฝ-82.94%)*

๐ŸŸฅ $LUNA (+0,55%) Terra, $0.0000516 (๐Ÿ”ฝ-99.99%)*


๐—ช๐—ต๐—ฎ๐˜ ๐—ฎ๐—ฏ๐—ผ๐˜‚๐˜ ๐—–๐—ผ๐—ถ๐—ป๐—ฏ๐—ฎ๐˜€๐—ฒ?


This week Coinbase $COIN (-3,83%) , one of the worldโ€™s largest cryptocurrency exchanges, released their quarterly earnings, and they did not meet analyst expectations at all.


๐ŸŸฅ EPS: -$1.26 vs $0.91 expected (-238.20%)

๐ŸŸฅ Revenue: $1.17bn vs $1.48bn expected (-20.98%)


They saw a 19% drop in monthly users. Whatโ€™s perhaps more of a worry to investors and users alike is the update on the platformโ€™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)


๐—›๐—ผ๐˜„ ๐—ต๐—ฎ๐˜€ ๐˜๐—ต๐—ถ๐˜€ ๐—ฎ๐—ณ๐—ณ๐—ฒ๐—ฐ๐˜๐—ฒ๐—ฑ ๐˜๐—ต๐—ฒ ๐˜€๐—ผ-๐—ฐ๐—ฎ๐—น๐—น๐—ฒ๐—ฑ โ€˜๐—–๐—ฟ๐˜†๐—ฝ๐˜๐—ผ ๐—•๐—ฟ๐—ผ๐˜€โ€™?


Tesla $TSLA (-6,59%) CEO, Elon Musk, Coinbase $COIN (-3,83%) CEO and trader Brian Armstrong, MicroStrategy chief Michael Saylor, and twins Tyler and Cameron Winklevoss are effectively the โ€˜horsemen of cryptoโ€™, or the โ€˜Crypto Brosโ€™ and theyโ€™ve seen their cumulative crypto wealth slashed by $20bn during this crash.


$TSLA (-6,59%) โ€˜s $1.5bn gamble on Bitcoin has fallen flat; Saylorโ€™s wealth has fallen from $8.5bn six months ago to potentially less than $1bn (just a measly millionaire๐Ÿ˜ฌ) and $COIN (+0%) has traded at 84% less than at their IPO date.


๐ŸŸฅ $TSLA (-6,59%) Tesla, $728.00 (๐Ÿ”ฝ-17.83%)**

๐ŸŸฅ $COIN (-3,83%) Coinbase, $58.50 (๐Ÿ”ฝ-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.

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