We have some big crypto news to talk about in the market today. So, what we’re gonna do is cover some important crypto news that you need to be aware of in the market today. I want to kick it off by mentioning the prices.
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So, why are the crypto prices pumping today? We have had some good stock market news coming out of the world. So, remember cryptocurrency to some degree .It is linked to the stock market, so in the stock market pumps what happens is the crypto market pumps as well. So, have a look at some of these articles right here, so have a look at these stocks could build on gains in the week ahead as investors await Friday’s job report and have a look at this article. As well, Japan’s Nikai 225 jumped close to two percent as Asia stocks rise ahead of major economic data this week. So, we’re getting some big information from the world stock market. This is strictly into the crypto market and potentially it might be a little bit bullish. So, that is exciting and it says here shares in Asia pacific traded higher Monday morning with Japanese stocks leading gains regionally China is set to announce its official manufacturing purchasing managers index for May on Tuesday while U.S jobs data is expected on Friday. Today the markets are closed for a holiday in the USA, so you have a holiday over in the states.
Let me know, what you’re doing today are you doing anything fun and interesting to hear your thoughts and but potentially what we could see is some positive news coming out of the stock market. That is good that pumps the price of crypto that’s what we want to see. We also have some other important news as well. So, this is good news and this is Binance one of the biggest crypto exchanges out there. Have a look at this Binance gains regulatory approval in Italy registration of Binance Italy allows the exchange to offer crypto products to the country’s customers and expands the local team. So, this is really nice stuff guys and what we want is. We want global cryptocurrency adoption, we want crypto exchanges all around the world. One of the big challenges is so many crypto exchanges are restricted in different countries.
You can’t even know, the USA is very tough on crypto exchanges and a lot of them you can’t even trade on. If you’re a resident of the United States, Italy is looking to onboard Binance. This is good. And hopefully what we can see is more global crypto adoption. Have a look at this one as well f1 Monaco GP BuyBits Red Bull Racing NFTs crypto f1 partnerships and more. So, from NFTS and fan tokens to multi-year partnerships the crypto community continues to support the f1 landscape in numerous ways. I have to say f1 is pretty exciting crypto and f1 racing, they 100 do go together. You can see right here Monaco grand prix 2022 saw F1’s fastest pit crew Oracle Red Bull Racing partner with crypto exchange BuyBit to launch ORBR’s 2022 NFT collection minted on the Tezos blockchain. We’re seeing this nice fusion of f1 racing and cryptocurrency and the CEO and the co-founder of BuyBits said f1 has a symbiotic relationship with crypto as the partnerships between the two industries pulls in young investors into the f1 fan base.
That is pretty cool, F1 racing is one of the fastest sports in the world for sure and it is great to see this nice adoption between cryptocurrency and sports racing too, so very exciting stuff happening in the crypto market on top of that. We do also have the build-out of the Metaverse happening in the background. So, I want to just mention some key technologies that are taking place in the Metaverse. I do think the Metaverse has a really big potential. What you’re going to see is cryptos like Decentral and Everdome, Luna one they are going to build in augmented reality virtual reality. There are so many different layers of the Metaverse. This is stuff to really watch out for in the future. So, I do think if Metaverse does get big adoption these things do take off. You’re gonna see a new realm of the economy, so this is really exciting stuff, basically intertwining augmented reality, virtual reality, new worlds, digital worlds and cryptocurrency together. So, just watch out for the rise of the Metaverse in 2022.
Let’s talk through these surging crypto prices and let’s have a look at some big winners on the market today. So, you can see Luna classic is up 34. So, I have just released a new video about Luna classic. It’s a bit of a wild card in the crypto space. I do think it has some interesting potential as always. There is the rule there is a reward and risk in crypto, but hey today is a green day. All the cryptos are basically going up in price which is great to see EGLD is doing good. So, Elrond is up, GMT is also doing good. So. StepN is up and a lot of the cryptos are basically up in price today.
So, a day to be celebrated. If we do look at the crypto prices today check it out. So, Bitcoin has led the gains up 4.6 percent. Ethereum’s up 5.7 and a lot of the cryptos are going up. So, BNB coined up 5.5 percent, XRP up four percent, Cardano up 11.6 percent, Celina up 8.1, Dot up 8.9, Doge up 4.4, ShibBu up a healthy 10, Apecoin up 7.1.
If we do take a look at Luna classics’ price right here, you can see a nice increase in the price of Luna classic and you also do have Luna the cryptocurrency trading around the five to six dollar level right here. So interesting things are happening with Luna and Terra Luna as well. So, can this crypto recover and build out a big crypto chain and can Luna classic summon the power of the community? We’ll see what happens with the Luna classic as well. So, the very interesting stuff is happening in the crypto space right now.
If we do take a look at the crypto prices right now. This is the story to tell right here, so you can see we zoom out a little bit right here. What we had was this low trajectory right here. We’re sitting in a bit of a low zone recently and the price was around 28 000-29 000 and then just recently, you can see it right here boom that is a nice little rocket launch right there. So, the Bitcoin prices went from around 29 000, low 29 thousand. All the way up to around 30 three hundred, so can Bitcoin price maintain this support? I definitely hope so and it’s gonna be interesting. So, I do think possibly if the stock market continues to go up, we get some bullish data coming out of the stock market. Potentially, we could see a bit of an increase in the crypto prices as always. Potentially there could be a drawback as well. Possibly, the crypto prices could go down but I do think if you do zoom out with crypto and you do take a long term approach. I do think in the long run that’s where a lot of potential is because one day you potentially could see a fifty thousand dollar Bitcoin, a hundred thousand dollar Bitcoin, and potentially higher because it’s still early days in the crypto market. I still think there’s a lot to come, but that’s a massive update.
This article is a transcription of a video made by Crypto ZEUS
Original video: https://youtu.be/oALWfOW0i_g