Daily Crypto NewsEDITION #303, 17 May 2022

Gem City protects technical analysis

Hey Moni Maker 👾

Today in Gem City, famous TA people, i.e. people who do technical analysis, were attacked. The perpetrators were trying to get back at the bloggers for predicting the price of meme-coins $ASSONMYASS at 1000000 Gems by the end of last year, but this coin went down and scammed.

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1) https://rift.finance/

OK, it's clear that the stablecoin world is collapsing right now, but...let's talk about Decentral Bank. This is the kind of DAO that develops stablecoins on NEAR. The first one, in particular, is $USN. The $USN itself, as the DAO assures us, is an OVERCOLLATERALIZED stablecoin, meaning it has x2 of the dough in its reserves. And if it all goes to help  - DAO can buy back as many coins as issued in all time. 

Read more about how $USN works here and about DAO here.

Analyst upon analyst chases analyst. Bloomberg has released an analyst note in which analyst John Roque of analyst firm 22V Research has done analyst analysis on Ethereum. 

According to the technical analysis, John sees the price of Ethereum at $420. Like, since last November, Ethereum has fallen 60% and will fall another 80%, that's what our analysts say. And also, ETH daily and weekly shows overselling will have no rally. 

Is the new unpeg trend for stablecoins officially open? So.  

DEI is an algostable on the Fantom network, currently trading at $0.666. Warned means you know what.

El Salvador's President Naib Bukele wants to be the Batman of this crypto Gotham. That's why representatives from as many as 44 countries are coming to meet him to discuss bitcoin and its apparent acceptance.

"Tomorrow, 32 central banks and 12 financial authorities (44 countries) will meet in El Salvador to discuss financial inclusion, digital economy, banking the unbanked, the #Bitcoin rollout and its benefits in our country." - tweeted Bukele.

Who will be: Nigeria, Egypt, Nepal, Pakistan, Bangladesh, Kenya, Uganda, Rwanda, Paraguay, Angola, Guinea and Madagascar. It's not clear whether the party is set up purely to discuss the bitcoin or whether it's just a supplement to coughing up other, more pressing issues.  

Curly, Sam has bullied the grandfather, aka bitcoin. He stated that BTC has no future as a payment system because of its inefficiency and high environmental costs, the Financial Times reports.

Proof-of-Work is already shakedown, is not environmentally friendly and generally consumes electricity on an industrial scale. What about Proof-of-Stake, which is both cheaper and not so energy-consuming.

Bankman-Fried also added, just in case, that he doesn't believe bitcoin can have a future as "an asset, a commodity and a means of savings".    

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