News Roundup: What Caused the Crypto Dip?

Last week was one of those weeks where you’d just want to close your crypto apps and hope for the best ?. Coin prices didn’t do so well, and many popular crypto companies even struggled in their earnings reports ?. 

But, even with the downturn, we still saw a few wins here and there ?. Let’s check out the biggest headlines from the past week 

Terra Goes To Dust ?

While the entire market struggled last week, Terra probably had the worst time of anyone. ? Its coin – LUNA – pretty much lost all its value after investors sold off quickly. LUNA started the week trading at $67.3, and its price dropped as low as $0.000010 by Friday ?. 

There’s been a lot of talk about what happened to LUNA and why its value dropped so badly. We already have an article explaining everything that happened, so check it out here. Trust us – it’s quite an interesting read ?. 

Bitcoin Hodlers Feel The Heat ?

Thanks to the market’s downturn, many companies that hold Bitcoin on their balance sheet also saw some losses ?. Coinbase’s stock fell by over 40%, and MicroStrategy fell by 39.8%. Crypto wasn’t the only reason why these stocks fell, but it was a pretty major one. 

Despite the drop in stocks, all of these Bitcoin hodlers have said they won’t sell. These guys have Diamond hands ?, and they still believe in the future of crypto. Still holding on to your coins? We definitely are!  

Buying The Dip Heavily! ?

Bear markets are the perfect opportunity for investors to buy the dip. And while everyone was panicking last week, some big players quickly took advantage of the situation and bought more crypto ?. 

Townsquare Media – a New York-based media company – bought $5 million worth of Bitcoin on Wednesday ?. They’re not as big as MicroStrategy and others, but hey; at least it’s something. 

Warren Buffett Now Owns Crypto…. Kind Of ?

So we all know Warren Buffett is one of the most popular crypto-hating investors ?. But, one of the companies that Mr. Buffett has invested in now wants to embrace crypto. 

Last week, Nubank – a digital bank based in Brazil – announced that it would start offering Bitcoin and Ethereum investments to its customers ?. Even more, nubank now wants to invest 1% of all its assets in crypto. See? Even Warren’s hate can’t stop the crypto train! 

Fly In Style ?️

Looking to hop on a flight soon? You might want to check out prices on Emirates Airlines. On Friday, we got reports that Emirates Airlines will start accepting Bitcoin for flight tickets ?. So, that’s one more place you get to spend your crypto. 

Emirates is also reportedly working on adding NFTs to its website homepage. We don’t know how they plan to sell the tokens or what they want to use them for, but hey; adoption is adoption ?. We move!


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