| Significant Crypto Adoption and Innovation Are on the Horizon If you cannot see the email below, please click here to see the web version. Dear FreeBitco.in User, You are receiving this email because you are an active user at FreeBitco.in. Your User ID 4327909 was last active on 2021-05-21.  LAST WEEK IN CRYPTO Hello FreeBitco.in Users! Last week, the crypto market suffered a substantial drop. However, positive news and speculation still continue to flow in. Let's take a look at what happened Last Week in Crypto: ➤ Experts Bullish on BTC As Price Hits $30,000 Bottom Analysts Say BTC Still in a Bull Run As Whales and Institutions Buy the Dip BTC | BITCOIN $36463.16 -6.21%  Last week, Bitcoin dropped to $30,000, a level it last touched in January. Elon Musk's tweets and China's crackdown on crypto had traders selling BTC in a frenzy. The effects were felt throughout the market as almost all coins posted heavy drops. However, as people speculate about the bull run being over, analysts and whales believe otherwise. In an article published by Chainalysis chief economist Philip Gradwell, he pointed out key indicators that suggest Bitcoin could still reclaim higher ground in coming months. According to Chainalysis, corrections higher than 25% in a bull run are not an anomaly and this drop seems to be fueled by retail traders while institutions have more or less stayed put. According to Bloomberg Intelligence, the fall of the crypto market on the back of BTC was a sign of crypto entering the mainstream. The dip has made it a ''discounted bull market'' as coins are now available at a lower price with upward potential. Willy Woo, a popular BTC analyst, also stated that this is not the end of the bull market. ''We haven't seen any kind of mania,'' Woo said. ''We dumped down from a level which was highly organic; no speculative premium.'' He further stated that the network health favors Bitcoin and while it may take time to recover, we're still in a bull market. FUN Token Reaches New Landmark As FreeBitco.in Users Purchase 200 BTC in Tokens FUN | FUN Token $0.022752 -8.61%  Since the Premium Membership Program was launched at FreeBitco.in in February, FUN Token has gone from strength to strength. Last week, FUN Token reached a new milestone - FreeBitco.in users have collectively bought 200 BTC worth of FUN Tokens. A couple of weeks ago, FUN reached the landmark of 250 million tokens purchased at FreeBitco.in. This is just another step towards revolutionizing the online gaming industry. FUN Token recently released a new roadmap that includes the launch of a dedicated decentralized casino this quarter. Click here to take a detailed look at the roadmap. Ethereum Gas Fees Skyrocket, DeFi Tokens Suffer As the Market Falls ETH | Ethereum $2,419.29 -9.68% AAVE | AAVE $351.08 -19.48% MKR | Maker $2,969.41 -23.67% On 19th May, gas fees on the Ethereum network ranged between 1,500 and 1,700 gwei as retail traders rushed to liquidate their leveraged positions on-chain. During this period, users even paid upwards of 2,000 gwei for transactions. This spike was fueled by fear as the market fell rapidly and on-chain margin traders were willing to pay anything to get their exit transactions validated as soon as possible. DeFi took a hard hit during the downturn as many lending platforms offer flash loans and leverage to users. AAVE, the highest-ranked DeFi platform saw its Total Locked Value (TVL) reduce by 16% as its price dropped by 26%. The second highest-ranked DeFi platform MakerDAO also exhibited a decrease in TVL by 25% as its price dropped by 20%. These drops could be attributed to the fact that most of the funds locked in these DeFi protocols are in BTC and ETH. When they fall, the TVL falls too. The biggest decentralized exchange Uniswap suffered too as its TVL dropped by 17%. The value of the UNI token also dropped to its lowest since March. Crypto News Weekly Roundup BitMEX Pledges to Take ''Positive Action'' Amid Environmental Concerns Over Crypto  As scrutiny over the energy consumption levels of crypto rises, BitMEX - a popular crypto trading platform - has pledged to offset its carbon footprint. The exchange will attempt to do it by donating $0.0026 for every $1 of blockchain fees its users pay out. This number was taken from calculations published by Sam Bankman-Fried, the CEO of crypto derivatives exchange FTX and Alameda Research. Sam suggested that it should be enough for crypto firms to offset their carbon footprints. Blockchain Research Institute to Foster Innovation Through Expansion Plans  The Blockchain Research Institute (BRI) is expanding into Africa, the Middle East, and Korea to promote research and innovation into blockchain in these regions. BRI is partnering with banks, foundations, and organizations to achieve this. It will collaborate with Standard Bank Group to set up a division in South Africa. The Middle East division would operate out of Qatar. This division would be launched in collaboration with Konnect & Co. while the Korean division will be launched in partnership with the BOSAGORA Foundation. These divisions would facilitate research, courses, and events to promote innovation and adoption in these regions. Another Step Towards Adoption: Wells Fargo to Welcome Crypto Clients  Wells Fargo, the popular investment management company, is set to introduce a crypto investment product for its clients. ''We think the cryptocurrency space has just kind of hit an evolution and maturation of its development that allows it now to be a viable investable asset,'' said Darren Cronk, President of Wells Fargo, in an interview. As late as December 2020, Wells Fargo had publicly shown very little interest in crypto. Now, they're preparing to launch their cryptocurrency investment platform by mid-June. This is just another step towards increasing adoption. STAY TUNED FOR THE LATEST NEWS EVERY WEEK Keep an eye on your inbox for your weekly dose of cryptocurrency news, updates, trends, analysis, and more. 
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BTC Set to Bounce Back: Buy the Dip?
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