Markets and news: May 7, 2022

blog dailynews14

News in brief

  • European bourses again followed the sell-off in US markets, especially in risk assets and technology companies.
  • Continued lockdowns due to Coivd-19 in China then resulted in a fall in the price of oil and subsequently the energy sector.
  • Czech Republic’s foreign trade fell into an unexpectedly large deficit of CZK 13.8 billion in March. The key reason for such a deep deficit is the oil and gas trade deficit. The rising prices of these commodities, mainly caused by Putin’s invasion of Ukraine, are exacerbating the deficit in the Czech Republic’s overall foreign trade, as the Czech Republic is a significant net importer of both oil and natural gas.
  • It can be expected that the increased prices of raw materials will soon be reflected in other areas as well.

Crypto markets

  • The pressure on the crypto markets intensified in the past 24 hours, with worsened macro data and bleeding main indices.
  • Bitcoin was pushed down below psychological level of 30,000 USD, for the first time since July 2021, however it bounced back above that level soon.
  • Altcoins were mostly bleeding as well, slightly recovering now.
  • PlatonCoin recovered from the weekend dip and is slowly climbing back up.

Bitcoin (BTC) is now trading at 32,138 USD down by 2,2% in 24h

Ethereum (ETH) is now for 2,436 USD up by 1,8% in 24h

PlatonCoin (PLTC) is now for 0,538 USD up by 0,1% in 24h

Total marketcap is currently at 1.561 trillion USD up by 1,8% in 24h

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

Crypto news

Crypto and ATMs: According to data acquired by Finbold, the number of Bitcoin ATMs throughout the globe was 34,340 on January 1; however, that number has risen by nearly 3,000 since that date, with 37,338 Bitcoin ATMs at the time of writing on May 10, as per Coin ATM Radar. A total of 2,998 Bitcoin ATMs were installed since the start of 2022, averaging 23 fitted daily. Given that Coin ATM Radar is tracking not all Bitcoin ATMs around the world – the true number might be significantly higher.

Madonna, Beeple and NFT: Beeple has been working with Madonna on a collection NFTs. The digital artist and the pop singer/sex symbol joined forces to release the exclusive collection “Mother of Creation,” which showcases three distinct motherhood-inspired facets of life.

El Salvador and Bitcoin: El Salvadoran President Nayib Bukele tweeted Monday that the Latin American country bought another 500 Bitcoin (around $15.3 million) during the current market correction, putting the total number of BTC owned by El Salvador at over 2,300 (around $72.5 million). “El Salvador just bought the dip!” Bukele tweeted, adding that his government purchased at an average price of $30,744.

Nigeria ,China and CBCDs: The Central Bank of Nigeria (CBN) will reportedly enable locals to pay their bills, TV subscriptions, and flight tickets using the eNaira. The move is part of a campaign that aims to popularize the financial product and encourage people to employ it more often in their daily transactions, while China broadens digital yuan trial to select hospitals in Tianjin area.

Leave a Reply

Your email address will not be published.

Are you new to the world of digital currencies?

Schedule a half-hour consultation.

Schedule a consultation