Dogecoin price analysis for May 11, 2022, comes on a bearish note for the meme coin but it is also crucial to note that DOGE is now once again ranked among the top 10 cryptocurrencies in the market. It is also an important fact that the price of the meme coin has held strongly above the $0.10 price support which means that it is a very crucial region to prevent the continuation of the downtrend of DOGE. As noted in our Dogecoin price analysis for May 10, 2022, the retest of $0.10 will continue in the near future.
The Coinbase Price Premium began trading in the negative on May 2nd and according to Cryptoquant data, traditional financial investors accounted for the majority of Bitcoin sales.
The VeChain Foundation has released its financial report for Q1 2022 showing that the project amassed an impressive $1.2 billion war chest but only spent about $4.1 million in the quarter.
De Beers, one of the leading diamond-producing companies globally, recently announced the deployment of its blockchain-based diamond source platform at scale. The platform will “enable the provision of provenance information from source to Sightholder to store on a secure blockchain.”
An extensive Reuters article details how Binance reportedly built ties with Russian officials. It began last year as Russian intelligence wanted the exchange to disclose client data in order to help fight crime – in particular, reportedly seeking to trace millions of dollars in Bitcoin raised by opposition leader Alexei Navalny.
Since the beginning of the week, Terra’s UST stablecoin has seen a major crash de-pegging from the USD. At the same time, Terra’s native cryptocurrency LUNA has corrected by over 80% in the last four days.
Delivering the Queen’s Speech, Prince Charles outlines the British government’s plans to support the safe adoption of cryptocurrencies and create “powers to more quickly and easily seize and recover crypto assets.”
As U.S. lawmakers push for the urgent regulation of stablecoins, the Financial Stability Oversight Council (FSOC) and the Federal Reserve Board warn about the risks of stablecoin runs that threaten the country’s financial stability. Treasury Secretary Janet Yellen brought up the terrausd (UST) fiasco as an example of why a comprehensive regulatory framework is urgently needed.