Markets and news: May 19, 2022

news, week 28

News in brief

  • Markets are globally still tanking, the most recent reason are bad reported results of many large companies across the globe.
  • Geopolitical situation around Ukraine is still very tense.
  • Information about rising number of Covid-19 cases in Southern Europe together with persistent lockdowns in China are not helping either.
  • Inflational pressures are also very high in both United States and Europe.
  • To calm the markets, it would take either an easing of tensions over Ukraine or at least an end to lockdowns in China, where forty cities are currently under full or partial lockdown.

Crypto markets

  • Bitcoin followed Wall Street down in the red numbers again.
  • Most of the lower and mid cap altcoins also followed the indices and Bitcoin and thus it is quite expected that the total crypto market cap is down by 70 billion USD in a day to 1.3 trillion USD.
  • PlatonCoin is again moving against the market, being one of the few altcoins in green numbers today.

Bitcoin (BTC) is now trading at 29,431 USD down by 0,4% in 24h

Ethereum (ETH) is now for 1,950 USD down by 2,0% in 24h

PlatonCoin (PLTC) is now for 0,591 USD up by 0,4% in 24h

Total marketcap is currently at 1.310 trillion USD down by 1,4% in 24h

(all data valid at the time of publishing, from Coingecko.com)

Crypto news

Seth Green and phishing attack: The American actor and comedian Seth Green has lost four non-fungible tokens (NFTs) worth more than $300,000 in a phishing attack. The stolen pieces were from popular, high-value NFT collections, including Bored Ape Yacht Club, Mutant Ape Yacht Club, and Doodles. Altogether, the hackers made off with about 145 Ethereum, or over $300,000 worth of non-fungible tokens.

Universal Music Group and NFTs: Universal Music Group (UMG) has entered a strategic deal with LimeWire, a digital collectibles marketplace. LimeWire revealed this news yesterday through a press release, noting that this partnership involves NFTs. Specifically, this deal will see both companies strive to make digital music collectibles more accessible.

Russia and crypto: Since January 1 of last year, cryptocurrencies have been legal in Russia, however they cannot be used to purchase goods or services. Russia recently enacted a new cryptocurrency law that, although falling short of the previous cryptocurrency prohibition, nonetheless maintains rigorous limits on the usage of cryptocurrencies as a form of currency. Fast forward 16 months, Moscow takes a different approach and will add cryptocurrency to its financial infrastructure. Industry and Trade Minister Denis Manturov stated on Thursday that Russia will “sooner or later” legalize cryptocurrencies as a form of payment

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