Crypto Market Overview May 26th | Dex-Trade
The Largest Crypto Exchanges Announced Their Support for the Terra 2.0 Project
Binance, FTX, Crypto.com, Huobi, Bitfinex, Bybit, Gate io, Bitrue, and Kucoin have announced their support for a modified version of the recently collapsed Terra blockchain called Terra 2.0. At the same time, Binance representatives stated that they are already working closely with the Terra team on a recovery plan, and a message appeared on the official FTX blog that the trading platform will support the distribution of new LUNA tokens and suspend the operation of the LUNA and UST markets. Messages of support began to appear en masse after the adoption of "proposal 1623" put forth by Terraform Labs CEO Do Kwon and the Terra community. According to it, Terraform Labs will deploy the new Terra 2.0 blockchain with the UST stablecoin, while the old rolled blockchain will continue to exist and be renamed Terra Classic. Under the terms of the project regeneration, existing Terra Classic token holders will receive new LUNA tokens. Terra 2.0 is expected to be launched on May 27th, with the distribution of new tokens to start immediately after that.
$116 Million Per Hour: Large-Scale Liquidation of Crypto due to the Fall of BTC and ETH
According to data from Coinglass, the current drop in the price of Bitcoin to $28,955 and Ethereum to $1,818 triggered a massive wave of crypto liquidations that swept through several crypto exchanges and led to a drop in the digital asset market capitalization by $116 million in just one hour. Liquidation is an automatic process that is triggered when a trader loses the initial margin on a position. This brings the total amount of liquidated Bitcoin positions to over $41 million today. The largest number of long liquidations across all assets was recorded on Bitfinex ($28.98 million), OKX ($44.68 million), and Binance ($22.47 million). After that, the price of BTC recovered to $29,191 and ETH rose to $1841, but at the time of writing, the coins continued to fall. Curiously, the number of Bitcoin whale wallets continued to grow even amid large-scale liquidations. Over the past 3 months, a whole 190 vaults have appeared, the addresses of which contain from 100 to 1000 BTC.
Love, Death + Robots Launch NFT Collection
Netflix's cult animated franchise Love, Death + Robots will feature its own NFT collection called LOVE, DEATH + ART, which consists of nine Love, Death + Robots artworks with QR codes that have been circulated in the digital and physical world. According to the project's official website, each token is a unique, limited edition image that "reflects a unique collection of visual perspectives and creative storytelling from the third volume of Love, Death + Robots." The main task of collectors at the moment is to find QR codes that are hidden on billboards, promo videos and episodes of the series. Well, if you are too lazy to search and create your own catalog, you can go to OpenSea, where all lots are presented in an introductory format. The price of tokens starts at 0.003 ETH (which is approximately $6).
Ronaldinho Supported the Launch of the First Soccer Metaverse
Champions games partnered with Ronaldinho, Arsenal midfielder Thomas Partey and Aston Villa number one Emiliano Martinez to launch a stable version of the world's first MetaSoccer football metaverse running on the play-and-earn protocol. The Metaverse is designed for football fans and allows players to manage their own clubs and profit from the gameplay. By the way, the legendary football players who cooperate with MetaSoccer will be presented in the game as NFTs and are part of the game's unique collection of digital art. Prior to its launch, Metasoccer successfully raised $2.3 million in investments backed by DAO Maker, Play Ventures, Defiance Capital, Parafi Capital, and Metrix Capital. So far, the company has reported 17,250 NFT footballers digitized specifically for the game. Players have the opportunity to train them, play, and trade their lots.