Crypto Market Overview May 23rd | Dex-Trade

Crypto Market Overview May 23rd | Dex-Trade

Musk Laughed Ambiguously at DOGE Founder's Tweet

DOGE flagship meme founder Billy Markus, well known for his caustic and eloquent statements, first spoke out about the Shiba Inu metaverse being a fraudulent project, and then, apparently, extrapolated and wrote a curious tweet: “the reason why people think crypto is 95% scams and garbage and most crypto people are assholes is because crypto is 95% scams and garbage and most crypto people are assholes” Judging by his narrative, he clearly sought to shock, which could not get past the main Twitter troll — Elon Musk. He left a “laughing and rolling on the floor” emoji under the businessman’s tweet, not supported by a single word. As required to be proven, this caused a tsunami of countless interpretations of Musk's opinion regarding what Marcus said, which are as pointless to check for accuracy same as it is to take the "father of electric cars" comment seriously. You don’t have to dig deep into the history of the crypto industry to understand that Marcus’ outrageous post was inspired, among other things, by events related to the collapse of the Terra cryptocurrencies. The collapse of LUNA and UST last week led to a drop in the capitalization of the crypto market by tens of billions of dollars. When investors lose large financial deposits, the finest hour of generalizations and rash conclusions comes.


Phishers Hacked Beeple Account and Used It to Steal Crypto

A group of attackers hacked the Twitter account of NFT artist Mike Winkleman, known under the pseudonym Beeple, and launched a campaign from it with a link supposedly to the website of the famous fashion designer Louis Vuitton, by clicking on which the recipients opened access to their crypto wallets and lost a total of about $ 73 000. Shortly after the phishing attack was launched, several crypto-security analysts tiped to Twitter to warn about the scam. Harry Denley, a security analyst at Metmask/MyCrypto, was the first to figure out this scheme. He wrote: “Beeple’s Twitter account has been hacked (ATO) to temporarily share a phishing link that, if clicked on, would steal users’ crypto funds.” By the way, in the scammers’ message about the author's collaboration with Louis Vuitton they promised each participant to give out rare collectible NFTs for free. And, unfortunately, it did not look too suspicious, since in 2019 Beeple was already involved in an art collaboration with the famous fashion house. The phishers stole 36 ETH (i.e. the same $73,000) and launched a parallel attack, as a result of which they stole several collectible NFTs for $166,000, another $175,000 in ETH and approximately $75,000 in WETH. After that, Beeple was able to take back control of their account and warned users that if something “appears too good to be true; it always ends up being a phishing scam.”


“The Market Crisis Will Benefit BTC”: Michael Saylor’s Statement

Microstrategy CEO and co-founder Michael Saylor, in an interview with Fox Business, tried to allay crypto investors' fears of a protracted bear market and stated that the recent collapse of Terra and the fall in the overall market capitalization will eventually allow Bitcoin to achieve higher prices in the future. The businessman noted that digital assets are grouped into three classes, the presence of which was just confirmed by the market crash last week. The first of these is Bitcoin, which is perfect, and therefore is the flagship. The second includes stablecoins, which gradually become widespread as participants acquire assets. And the third class is altcoins that have not yet received any regulatory approvals. Thus, Saylor concluded that last week's crash revealed to many traders the essence of the difference between Bitcoin and other tokens in the market. Well, between the lines, this is clearly similar to the statement that “everything will be fine with Bitcoin because it is the best.” Such the great position.