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Ewpple - Crypto Market Insight May 2022
Ewpple Crypto Index Fund fell by -32% in 1 month.
S&P Crypto LargeCap Index fell by -34% in 1 month.
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- An SEC filing indicates that Fidelity Investments' bitcoin index fund has more than USD 125M in investments.
- With the delayed transition to proof-of-stake to take place in August, the impact of the Merge on the Ethereum price may be muted.
- Uniswap (UNI) trading volumes are now over $1T.
- The Terra blockchain's validators approved Terra 2.0, much to the dismay of Terra's community and decentralized finance platform Lido.
- After Terra's collapse, crypto whales redeemed $10B Tether's USDT for USDC, its closest competitor, which gained $5B.
- According to the US Federal Reserve, most US adults who use crypto use it for investment purposes - 11% use it for investments, 2% for payments, 1% for sending to friends and family.
- Michael Hsu, acting comptroller of the currency, said the crypto space is extremely dangerous for investors of modest means, referring to the crash as a 'wake-up call' and an 'opportunity to reset'.
- AUM of crypto funds fell to $38B, the lowest since July 2021, as investors pulled out $143M, the second-largest outflow since July 2021, CoinShares reported this week.
- AH Capital Management LLC has raised $4.5B for its fourth and largest crypto fund to support the web3 concept.
- HK-based crypto lender Babel Finance raised $80M and is valued at $2B.
S&P Crypto LargeCap Index fell by -34% in 1 month.
Contact me if you'd like to build passive income.
To view the disclaimer, click here.
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