Bitcoin
jumped over 2% in the last 24 hours and trading above the $30,000 mark as
cryptocurrency prices rebounded today after declining in the past few sessions.
Though it is down 36% this year, and trading far below its November 10 all-time
high of $69,000.

Also Read | Top 5 cryptocurrencies of the day: BTC up by 2%, Terra LUNA trends at no. 1

According to digital asset manager CoinShares, the global
crypto funds saw record weekly net inflows for this year, amounting to $274
million last week which is a strong sign that investors saw the recent terraUSD
(UST) de-peg and its associated broad sell-off as a buying opportunity. The
world’s biggest cryptocurrency, Bitcoin, benefitted the most with inflows of
$299 million last week.

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Cryptocurrencies have been swept up in a sell-off this
year in risk assets, which has picked up steam as official data showed soaring
US inflation and rising investor fears about the economic impact of aggressive
central bank policy. 

Bitcoin fear and greed index on Friday, May 20, 2022,
went from the extreme fear level of 12 to the level of 13 as per the
alternative. me. The Fear and Greed index is a technique for assessing
investors’ emotions toward the market.    

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Bitcoin is currently trading at $30,229.49, up by 3.75%.
In the last 24 hours, the highest it touched was $30,664.98 and the lowest was
$28,872.36. Bitcoin has a current market cap of $575,708,285,907. It has a
circulating supply of 19,044,593.00. BTC coins have a maximum supply of
21,000,000 coins.

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Binance founder says he’s poor again after Terra LUNA
crashes to zero

After the crypto token LUNA crashed, Binance’s founder,
Changpeng Zhao or CZ, tweeted, “Poor again”. Binance’s LUNA holdings were once
worth $1.6 billion but are now worth around $2,200. Binance held 15 million
LUNA tokens. He said Binance received these tokens in exchange for its $3
million investment in 2018 in the Terra network that LUNA is based on. He added
that its luna tokens were “never moved or sold.” CZ is still a
billionaire, according to Bloomberg, and Binance is the largest crypto exchange.