10/05/2022
📰 CRYPTO MARKET NEWS UPDATE 📰
👉 Fed interest rate increase - The crypto currency market price dump.
In an effort to control the high inflation rate, The Federal Reserve (FED) raised its benchmark interest rate by 0.5 points on Wednesday, 5 May 2022. After the decision of Fed, Crypto Currency market has gone through a price dump period:
Bitcoin (BTC) price fall from over 39,000 Dollars to the lowest point of 33,500 Dollar (Approximately 14%). Ethereum (ETH) price fell from 2,900 Dollars to the lowest point of 2,450 Dollar (Approximately 15.5%). Other blockchain coins: Carnado (ADA), Algorand (ALGO), Binance Coin (BNB), Solana (SOL) and Polkadot (DOT) also decline in price by 6.6% - 13%. The crypto currency capitalization declined from over 1.800 billion of Dollars to 1.500 billion of dollars.
👉 Cardano - competitor of ETH cooperated with COTI to launch a new algorithm stable coin.
Djed, a decentralized and algorithmic stable coin that is built on Cardano - has gone live on its public test net.
👉Instagram to Support NFTs From Ethereum, Solana, and others
Instagram plans to integrate non-fungible tokens (NFTs) from top platforms such as Solana, Ethereum Flow, and Polygon, Coindesk reported. The social media platform is expected to announce a pilot scheme as soon as Monday.
👉 It Is Now Possible to Purchase Real Estate in Portugal Directly With Crypto
According to a report (published on May 8) by Lubomir Tassev for Bitcoin News, a two-bedroom apartment in Braga (which is “a city and a municipality capital of the northwestern Portuguese district of Braga and of the historical and cultural Minho Province”) was purchased directly with crypto in a deal described by local media as the first such real transaction in Portugal.