This week has been particularly tumultuous.

After the “meme” frenzy of copying “Dogecoin” like “Shiba Inu” to Tesla which stopped bitcoin payments, and to the extreme volatility of the crypto market.

There was already a lot of miscellaneous events, as the entire market went through extreme volatility.

Many cryptocurrencies have ever made new highs and some have seen serious declines.

Let’s start with Bitcoin:

The cryptocurrency is currently down about 14% over the course of the week, the last Friday before the latter, Bitcoin was trading at around $57,000.

But unfortunately, everything has been downhill since then, except for the first few days of the start of last week (on Monday) where Bitcoin had a failed attempt at the $60K level requested.

Read:Bitfinex begins buying and burning its new LEO coin

Last Thursday, which coincided with Eid al-Fitr, Tesla announced that it will no longer support bitcoin payments to purchase its cars, citing environmental concerns about BTC mining.

This sent the entire market into a severe recession, as the primary cryptocurrency collapsed all the way to the $47,400 level.

ADA digital currency move:

Most altcoins followed the Bitcoin movement, with the exception of a few that decided to tweet alone outside the flock, including ADA, whose founder Charles Hoskinson previously stated that May will be a big month for ADA:

Cardano Founder (ADA): May is a big month for us

The ADA cryptocurrency rose rapidly after a prolonged accumulation phase, as ADA rose to the level of $2 for the first time, reaching a new record at $2.18, according to the “Ada” website.coinmarketcapTo regain the fourth place it had previously lost in favor of the “Dogecoin” currency earlier, the latter fell to the fifth place.

On the other hand, after drawing a new all-time high at around $4400, the Ethereum currency was also affected by the decline and fell to $3600 as a result, to recover again and rise above the $4000 level.

Read:The “Flare Networks” project is considering integrating the digital currency ADA after consulting users

“meme” coins:

Driven by the massive increase in the price of “DOGE”, other cryptocurrencies with similar purposes, such as “SHIB”, “Shiba Pup” and “Akita” continue to try to win the attention and money of investors, and most of these digital currencies, which are mostly the dog as their logo, share One common feature is that developers send 50% of their total supply to Vitalik Buterin’s wallet as proof of burns.

But in a move that many did not expect, Buterin began dumping billions of free money he had received.

He donated large sums to charities in India, as well as to research facilities.

This showed everyone that he did not intend to keep these clones.

While a lot of these meme-inspired cryptocurrencies crashed and burned, some of them still made huge gains for their investors.

In general, these are the most prominent events and stations that coincided with the day of Eid:

The founder of Ethereum sells his acquired meme coins:

“meme” coins such as “SHIB”, “AKITA” and others are facing massive dumping.

In a move that shocked many, Vitalik Buterin sold many of the Dogecoin he had received.

Read:Hackers warn and threaten the founder of “Terra”…details here

Most of them sold out, sending them into a severe slump, although some still performed very well overall over the course of seven days.

Tesla stops accepting bitcoin:

Bitcoin price dropped $3,000 in response to the shocking news from Tesla.

Electric car giant Tesla has decided to stop payments using Bitcoin to buy its cars.

The company cited environmental concerns as the main reason for the decision and stated that it will continue to hold bitcoin on its balance sheet.

MoneyGram seeks to enable users to buy and withdraw Bitcoin:

One of the world’s leading money transfer companies, MoneyGram, will allow its users to buy and withdraw cryptocurrencies for cash at traditional US locations and stores.

American investment bank “Cowen” offers cryptocurrency custody services:

More banks are getting involved in cryptocurrency, as Cowen Bank, a large multinational investment bank headquartered in the United States, has announced plans to hold digital currencies for hedge funds and asset managers.

Crypto is the solution to the problem created by the Federal Reserve, according to the American investor “Stan Druckenmiller”:

Stan Druckenmiller believes that the US dollar may lose its status as the global reserve currency, due to the ongoing policy of the US Federal Reserve.

Stan sees a blockchain-based system as an alternative to the current system.

These were the most prominent events and news that occurred last Thursday and Friday.

Read also:

What is the Shiba Inu (SHIB) digital currency? Why did the price explode?

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