Bitcoin Sets New Record With 9-Week Losing Streak
Daily Market Wrap
Crypto market cap: 1.25 trillion, up 4.79%
BTC price stands at USD 30,132, up 4.33%
ETH price stands at USD 1,872, up 5.87%
Top gainer: STEPN (GMT), up 27.94%
Top loser: Binance USD (BUSD), down 0.03%
News of the Day
Bitcoin has set a new record with its 9-week losing streak since March 2022.
Why it matters:
Bitcoin price action decoupled from the stock market last week, down 22% in May
While the Nasdaq Composite tech-heavy stock market index began to flash a little green with 3.1% up last week, Bitcoin and the majority of altcoins have continued to drop
According to CoinGlass, this would make May 2022 the second worst May in Bitcoin’s history
Crypto daily spotlight
Elon Musk Says SpaceX Will Accept Dogecoin (DOGE) Merch Payment
Brief introduction: The popular meme coin Dogecoin is based on the popular “DOGE” Internet meme and features a Shiba Inu on its logo. It was created on Twitter by Jackson Palmer who is from Sydney, Australia on November 27, 201, when he tweeted about “investing” on “Dogecoin”. In 2021, Elon Musk was a well-known Dogecoin supporter and enthusiast, having used his Twitter to shill Dogecoin for several business purposes.
Why it matters:
Elon Musk tweeted on Friday saying he plans to support DOGE payment for SpaceX merchandise
Musk says he is a supporter of Dogecoin because he believes it is “the people’s crypto”
The price of DOGE jumped as much as 10% immediately following the tweet. However, it remains down more than 41% in the past 30 days
Tesla, Musk’s electric car company, also started accepting DOGE for their merchandise in January this year
Daily sector tracker
Daily News Roundup
Binance Gets Green Light of Regulatory Approval from Italy https://bit.ly/3avj0ED
Crypto Analytics Firm Nansen Reveals Seven Wallets that Triggered the UST De-Peg https://bit.ly/3PR6KhE
“Move-to-Earn” Game STEPN Blocks Mainland China Users Due to Compliance Regulations https://bit.ly/3wWWwF7
FTX Co-Founder Sam Bankman-Fried is Ready for Billions of Acquisitions https://bit.ly/3PQHgB6
The New Terra Blockchain (LUNA 2.0) Went Live on Saturday https://bit.ly/3ahGQ6v
About Aspen Digital
Aspen Digital is a leading technology and financial services company with a mission to accelerate the mass adoption of digital assets. The company provides a digital asset management solution for asset managers, institutions, and sophisticated investors. Aspen Digital was co-founded by digital assets innovators and asset management veterans at Everest Ventures Group (“EVG”) and TT Bond Partners (“TTB”) in 2021.
For more information, please visit https://www.aspendigital.co/
Sign Up on Aspen Digital
We have launched the beta version of our platform. If you would like to know more, please sign up here.