POKKET: Crypto Market Update (May 13)
Bitcoin price crashed -13% to $50k after Elon made a statement through TSLA the company would not be accepting Bitcoin anymore due to the ‘environmental impact’ of mining. ETH is -6% to $3900 as it continues to be a stronger performer vs. BTC. Movers are AAVE +17%, POWR +16%, YFI -24%, YFII -22%, RLC -20%, GTO DENT STORJ -16%, OGN OMG DOCK -14%, and rest follow lower.
Crypto Twitter is having a field day, questioning Elon’s intelligence as any competent engineer would conduct research before diving into a subject, let alone spending $1.5B in the process. FT (Finance-Twitter) is also having a field day using this flip-flop as fodder for TSLA attacks while also grabbing the popcorn to see how Cathie Wood will react.
SHIB has tanked -38% after Vitalik makes a chad move and donated it all to India’s COVID-19 efforts; he liquidated many other shitcoins in the process.
Facebook backed Diem partners with Silvergate to issue its own USD stablecoin.
US CPI is finally showing inflation as it rose 4.2% YoY, the highest jump since September 2008.
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