Crypto Flipsider News – May 20th – Market Dip, BlockFi, Elon Musk, Michael Saylor, Changpeng Zhao, Justin Sun, Uniswap, SushiSwap
DailyCoin flipsider news comes back! The crypto market experiences strong earth-shaking. We didn’t want to miss anything important, so we returned the flipsider out the ground and asked him to comment on the latest events again.
Read in the digest:
- The devil is not so black as he is painted. The dip is not so scary
- BlockFi screwed up
- reached the bottom
- Uniswap v3 overtook SushiSwap and going to surpass Uniswap v2 soon
- “Crypto Yalta Conference”
Crypto Armageddon – Just Kidding
Yesterday, the crypto market experienced a flash crash. All the graphs of digital assets became painted in red. Bitcoin hit the position at the beginning of this year. Coinbase and CoinMarketCap websites crashed because of user overload.
- Please, relax and keep calm. Such market dips happen each month. If you are not familiar enough with the tendencies of the market, it would be better to check this article first.
One Mistake Can Cost Too Much – BlockFi
BlockFi mistakenly sent Bitcoins instead of Tether stablecoins to fewer than 100 users as a part of their promotion. The company is one of the biggest cryptocurrency startups so far, which is responsible for borrowing and lending crypto as well as owns some other products. The price of the mistake is tremendous if we consider the difference in price between BTC and USDC.
- On the other hand, this mistake was highlighted in all world’s biggest newspapers! I don’t know if such PR was worth it, but mistakes happen.
Bitcoin Rocked to the Bottom Level of the Year’s Beginning
Because of the recent market dip, Bitcoin reached the bottom line of almost $30K. This didn’t happen since January 2021. On the other hand, in order to stabilize the situation, Michael Saylor posted that his entities own 111,000 BTC and they are not intended to sell them.
Entities I control have now acquired 111,000 #BTC and have not sold a single satoshi. #Bitcoin Forever.
— Michael Saylor (@michael_saylor) May 19, 2021
Justin Sun called Elon Musk, Michael Saylor, and Changpeng Zhao for the “Crypto Yalta Conference”
The founder and current CEO of TRON posted a tweet where he called biggest crypto influencers of nowadays for “Yalta Conference.” For those who are wondering about this historical event, the conference was intended to stabilize the situation after the Second World War. In the meanwhile, Elon Musk just hinted that Tesla (NASDAQ:) has diamond hands.
— Elon Musk (@elonmusk) May 19, 2021
- Sometimes it feels that some people create the violation in order to raise their own personality as “saviors.” And after this, everyone else tries to grab themselves a slice of hype. Pretty much like politics, indeed.
Uniswap v3 Cvertook SushiSwap and Going to Surpass Uniswap v2 Soon
In the shadow of the market dip and influencers’ sentiments, altcoins keep silent. The news came from a new version of Ethereum-based DEX: Uniswap v3 overtook SushiSwap by volume and will dominate the previous ones soon.
- People want anything that can reduce the gas fees. On the other hand, L2 scaling has become more popular despite some critique.
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