Bitcoin
$ 53,162
Ethereum
$ 2,513.7
XRP
$ 0.8854

Bitcoin is suffering with the level of 50 thousand dollars and Cardano ADA flying out of tune!

Source: https://bit.ly/3hrluVZ

This week has been particularly tumultuous.

After the “meme” coin craze from copying Dogecoin like “ Shiba Inu ” to Tesla, which stopped Bitcoin payments, and to the extreme volatility of the crypto market.

There was already a lot of varied events, as the entire market went through extreme volatility.

Many digital currencies drew new highs at all, and some saw serious lows.

Let’s start with Bitcoin:

The cryptocurrency is currently down about 14% over the course of the week, last Friday before the last one, Bitcoin was trading at around $ 57,000.

Unfortunately, however, everything has been declining since then, except for the first few days from the start of last week (Monday) when Bitcoin had a failed bid at the required $ 60K level.

Last Thursday, which coincided with Eid al-Fitr, Tesla announced that it would no longer support Bitcoin payments to purchase its cars, citing environmental concerns about the mining of the BTC.

This sent the entire market into a severe recession, as the base cryptocurrency collapsed all the way to the $ 47,400 level.

ADA digital currency move:

Most of the alternative digital currencies followed the bitcoin movement, except for a handful of currencies that decided to tweet alone out of the flock, including the Cardano ADA coin, whose project founder Charles Hoskinson previously stated that May will be a big and upcoming month for ADA:

The ADA digital currency rose rapidly after a long period of accumulation, where the ADA rose to the level of $ 2 for the first time, to reach a new record at $ 2.18, according to ” coinmarketcap “, and thus to regain the fourth place it lost in favor of the currency “Dogecoin” earlier, this The latter fell to the fifth place.

On the other hand, after drawing its highest level ever at about $ 4400, the Ethereum currency was also affected by the decline and fell to $ 3600 as a result, to recover again and rise above the level of $ 4000.

Meme” coins:

Driven by the massive increase in the price of “DOGE“, other cryptocurrencies of similar purposes, such as “SHIB“, “Shiba Pup” and “Akita”, continue their attempt to gain the attention and money of investors. Most of these digital currencies, most of which take the dog as their slogan, are involved in One common feature is that developers send 50% of their total supply to the Vitalik Buterin wallet as evidence of the burn operations.

However, in a move many had not expected, Putrin began throwing away billions of free money that he had received.

He donated large sums to charities in India, as well as to research facilities.

Show this to everyone that he does not intend to keep these cloned digital currencies.

While a lot of these meme-inspired cryptocurrencies have been smashed and burned, some are still making huge gains for their investors.

In general, these are the most prominent events and stations that coincided with the day of Eid:

Ethereum founder sells the meme coins earned:

“Meme” coins such as “SHIB“, “AKITA” and others face a massive void.

In a move that shocked many, Vitalik Buterin sold many copies of the Dogecoin he received.

Where he sold most of them, which put them in a severe recession, although some of them still performed very well in general over the course of seven days.

Tesla stops accepting bitcoin:

Bitcoin dropped $ 3,000 in response to the shocking news from Tesla.

Electric car giant Tesla decided to stop payments using BTC to buy its cars.

The company cited environmental concerns as the main reason for the decision and stated that it will continue to keep Bitcoin on its balance sheet.

MoneyGram strives to enable users to purchase and withdraw Bitcoins:

One of the world’s leading money transfer companies, “MoneyGram”, will allow its users to buy and withdraw cryptocurrencies for cash at traditional sites and stores in the United States.

American investment bank “Cowen” offers cryptocurrency custody services:

More banks are taking part in cryptocurrencies, as Cowen Bank, a large multinational investment bank based in the US, announced plans to hold digital currencies for hedge funds and asset managers.

Crypto is the solution to the problem created by the Federal Reserve, according to American investor Stan Druckenmiller:

Stan Druckmiller believes that the US dollar may lose its position as a global reserve currency, due to the ongoing policy of the US Federal Reserve.

Stan believes that a blockchain-based system could be an alternative to the current system.

These were the most prominent events and news that happened last Thursday and Friday.

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