Yalla Crypto #9 - This Week’s Highlights + Technical Deep-Dive in How PoW Blockchains Work
Global Headlines
General crypto market performance
The past seven days served as a turning point in many crypto asset’s downtrend, at least it seems. Bitcoin (BTC) closed the week with a massive 7% gain, which makes last week among the best time frames for the asset this year. Cardano (ADA) managed to even top that, and saw a whopping 16% increase in price, which sent its valuation to around USD 0.62 per ADA. Some formations suggest that Cardano (ADA) broke the 20-day Moving Average (MA) at USD 0.54 which could mean bulls will attempt to push its price to the drop value of USD 0.74 per token.
Terra 2.0 is officially Live
Terraform Labs have launched the new Terra 2.0 blockchain on Friday, the 28th of May. The event came pursuant of Do Kwon’s revival plan, which divided cryptocurrency exchanges and tech entrepreneurs in whether to support this new venture after the historic plunge of the LUNA earlier.
Tether Launches Mexican Peso-Pegged Stablecoin
Tether has launched its MXNT token pegged to Mexico’s peso. MXNT is the latest addition to Tether’s array of stablecoins, and also marks its first presence in Latin America.
Bitcoin (BTC) and Ether (ETH) accepted by Balenciaga
French luxury fashion house Balenciaga has announced that it will begin to accept Bitcoin (BTC) and Ethereum (ETH) as payment methods. Balenciaga, among other brands, has earlier launched its own NFT collections and meta-verse pop-ups.
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MENA Highlights
DeFi Platform Marhaba to Launch the first ever Halal NFTs
Defi platform Marhaba announces their creation of "world's first" certification for NFTs while compliant with Shariah law. The process includes NFT projects being submitted to the Sharia Administrative Board to determine whether or not it is permitted under Islamic law (“halal”).
Abu Dhabi launches the first crypto vending machine in the UAE?
The Abu Dhabi Global Market has launched a crypto vending machine in the free zone area. Customers can input cash or credit cards for crypto. The machine is located in Galleria Mall on Al Maryah Island near the ADGM.
Qatar Airways steps into the Metaverse with virtual cabin crew?
Qatar Airways has entered the metaverse by launching Qverse, a virtual reality experience for visitors to the airline’s website. The airline has also introduced a MetaHuman cabin crew, featuring a 3D human model under the name ‘Sama’.