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There was $5.55 billion in DeFi volume, which is 10.37 percent of the overall 24-hour volume of the crypto market. Bitcoin presently holds a 45.25 percent share of the cryptocurrency market. It has risen by 0.04 percent in the last seven days. During the previous 24 hours, Binance (BNB) coin's price rose by 4.5 percent. At the time of this post, Dogecoin (DOGE) was trading at $0.08487. Polkadot (DOT) and Avalanche (AVAX) are the 11th and 14th most valuable cryptocurrencies at the time of writing, respectively, on the cryptocurrency exchange CoinMarketCap.  

The Governor of the Bank of Thailand, Sethaput Suthiwartnarueput, declared that the institution would not rush to implement a CBDC. According to him, Thailand provides customers with various payment options. The government announced its plan to replace physical cash with the national digital currency last year. In 2020, the country's central bank announced that it intends to examine how the financial product interacts with local businesses.  

The annual World Economic Forum (WEF) was held in Davos, Switzerland, with the participation of the Global Blockchain Business Council (GBBC). Michael Miebach, CEO of Mastercard, spoke on a panel about the potential role of CBDCs in the financial system and cross-border payments. He predicted that the interbank communications system, SWIFT, would be extinct within five years.  

The minutes from the Federal Reserve's most recent meeting will significantly impact the price of bitcoin in the near future. According to Arcane Research, Bitcoin options traders are more concerned with hedging their risk than ever. There has never been a more cynical attitude expressed by options traders than there is now.  

Over the past 24 hours, the global cryptocurrency market cap has fallen by 2.05 percent to $1.26 trillion. Currently, Bitcoin's value is Rs 24.06 lakh, with a 44.20 percent market share. There was $9.64 billion in DeFi's 24-hour trading volume, which is 11.49 percent of the total market volume.  

Investors lost more than $40 billion due to the collapse of Terra's LUNA and UST networks. Others are kicking themselves for supporting the cryptocurrency, while some insiders say, "I told you so."  The Chief Executive Officer of Binance, Changpeng Zhao, stated that the business possessed 15 million LUNA, which had a value of $1.6 billion at the token's peak. Bloomberg's estimations place CZ's net worth at more than $15 billion, despite having incurred losses.  

Central bank digital currency (CBDC) payments across international borders are being examined by SWIFT and Capgemini. Most central banks worldwide are actively working on developing CBDCs, and this trend is expected to continue. There has been an announcement by the corporation indicating that it is working on an intercept, translation, and transmission gateway for domestic CBDC networks to the SWIFT platform. SWIFT's infrastructure, authentication mechanisms, and standards will be used in the new system. SWIFT connects more than 11,000 financial institutions in more than 200 countries. As of last year, SWIFT handled an average of 42 million communications each day. On the other hand, completing transactions on the network may take many days. Ripple may be able to help CBDCs communicate with one another beyond the traditional grid (XRP).  

Last week, the TerraUSD (UST) and Luna projects, which Terraform Labs ran, failed. An airdrop of fresh Luna tokens will be sent to those who already possess Luna on the current Classic networks. If the request is approved, the airdrop might take place on May 27. This, however, is contingent on the outcome.  

Oversold conditions on the charts kept Bitcoin above $27,500 for the time being. The cryptocurrency may encounter resistance at $35,000, where the current downtrend began earlier this month. According to DeMARK indicators, BTC's daily chart showed a countertrend reversal signal on May 12 alongside the Dow Jones and S&P 500. Negative momentum signals on weekly and monthly charts limit the stock's potential upside.  

Tanzania is moving closer to introducing its own central bank digital currency (CBDC). The start date for the Tanzanian CBDC has not yet been made public. However, he did confirm that the government could no longer ignore the growing existence of digital currencies.  CBDC, according to the BOT Governor, will assist in fighting the rising popularity of privately issued cryptocurrency assets. Digital money issued by a central bank, according to him, would be a more secure and stable alternative to cryptocurrencies. According to the governor, bitcoin trading and speculation have impacted a wide range of people. Only Nigeria's central bank, e-Naira, has launched a CBDC in Africa. Kenya, Madagascar, Eswatini, Rwanda, Ghana, Morocco, and Tunisia are some of the other African countries researching the development of CBDC. It was also revealed in February 2022 that Zambia would be exploring the adoption and deployment of CBDCs as well.  

The collapse of the Luna and its associated terraUSD stablecoin, aka UST, has sent shockwaves throughout the crypto market. UST is designed to retain a value of $1 at all times, but it was depegged last Monday, and has since fallen to 17 cents.  

The FIREPIN Token (FRPN) was founded on February 25, 2022, as a community-driven cryptocurrency managed by its DAO (Decentralised Autonomous Organisation). The coin aims to connect five major blockchains, including Ether (ETH), Binance Smart Chain (BSC), Solana (SOL), Avalanche (AVAX), and Polygon (MATIC). The presale price began at $0.0000067 and has lately risen to $0.0023. The debut date of the cryptocurrency has been planned for May 27, allowing you sufficient time to invest before its presale concludes.

Luna's value, the cryptocurrency closely related to the controversial stablecoin TerraUSD, has dropped to almost $0. This is because the price of the so-called stablecoin fell sharply below the $1 mark. To keep the dollar peg intact, a UST token is produced by erasing a certain quantity of the associated cryptocurrency, Luna. The Luna Foundation Guard acts as a form of reserve by keeping bitcoin in their possession. The organization may have to liquidate some or all of its bitcoin holdings to maintain the peg. On Thursday, Bitcoin's price traded at its lowest level since December 2020. Tether, the largest stablecoin globally, also fell below its $1 peg.  

The International Monetary Fund (IMF) has turned its attention to the Sand Dollar, the CBDC issued by the central bank of the Bahamas. The IMF has suggested that the nation's regulators perform more oversight and give the public more educational opportunities. The recommendation resulted from an Article IV consultation held last week in the Bahamas.  

It is recommended that India proceed cautiously with the introduction of a central bank digital currency (CBDC) because it could be harmful to institutions, retail-end users, and the central bank's reputation. While a CBDC would have greater penetration, the Unified Payments Interface's reach is vast, according to research published by the National Council for Applied Economic Research (NCAER).  

  Argentina is laying the groundwork for the future issuance of its own digital currency, the digital peso, by its central bank. The Argentinian government changed the functions and faculties of the national mint in a decree approved and published on April 26. The decree covers the digital capture and processing of data, images, codes, sounds, and microchips, as well as software design and development, digital security implementation, database printing, and recording.

Last Wednesday, the Philippines announced that the country kick off Project CBDCPh, a wholesale central bank digital currency pilot project. Benjamin E. Diokno, governor of the Bangko Sentral ng Pilipinas, spoke about the project at the 14th Annual Group of 24/Alliance for Financial Inclusion Policymakers roundtable. As of 2020, about 20.1 percent of monthly retail payment volume was digital, up from 10% in 2018 and 1% in 2013. All government salaries are paid digitally. The Philippines has joined the Group of 24, which coordinates "the position of developing countries on monetary and development issues," by signing memorandums of understanding with the Monetary Authority of Singapore and the Central Bank of Mauritius in the areas of digital currency, fintech, and Islamic banking. The Financial Action Task Force recently identified the country with insufficient anti-money laundering and counter-terrorism financing standards.