Hi guys, Happy new month to you and yours! May was a heck of a month in crypto, many of us are still recovering, I’m wishing everyone affected in the crash of LUNA a speedy recovery. May 2022 is one month that will be remembered for a long time crypto.

Let’s talk about the L’s first, then we’ll talk about the wins.

The biggest L was LUNA’s crash

Just around $60billion was nuked from the entire crypto market cap. Big lesson to founders, manage big brain with small attitude for the success of your project because the users are the lifeline of that project not necessarily you, especially in a decentralized ecosystem.

Bigger lesson to Users. Don’t invest more than willing to lose.

Algo stable coin or crypto time bomb

Stable coins are necessary evil, however, most are centralized and mostly shady, certainly we have a few good ones, but none are entirely bereft of centralized risks, an alternative are algo stable coins.

Mint and Burn Algorithmic stable coins without proper checks to mitigate a death spiral are a time bomb. UST was a perfect example of how to not operate a algo stable currency while HBDshows us a great example of what an algo stable should look like.

9 week red candles

Also, for the first time ever, it’s recorded that in May, Bitcoin printed 9 straight red candles.

source

Very bearish market behavior. But we are here for it. Builders gotta build.

On the Wins

May was gloomy for everyone, especially those who’s major focus is price and as we know, prices tell only one side of the story.

• Russia is actively discussing allowing digital currencies(Bitcoin) for international trade. Source
• Balenciaga and Gucci to start accepting Bitcoin in select stores around the world.
• Brazil’s largest bank to allow its 53million customers to buy Bitcoin(Nubank)

Big strides are still being made on the adoption front.

In Other Crypto News

• Hive gets Lightening integration
• Polycub governance went live
• Hive is now bridged to Avalanche network
• Splinterlands Sps Validator nodes presale had a huge success in first round.
• SPS on Polycub

So what’s for June? Hive Focus

The price of Hive token ranged between $0.42 and $0.55 through out May, sweet trading pattern for traders who are paying attention. I know one day I’m going to enter the market to buy low and sell high and make tons of money from it I just need to pay the right amount of attention.

I recently came to the realization that Hive has been my best performing asset, although I’m glad I diversified to the extent I did, I learnt a lot by doing that. However, going forward, I’m focusing efforts on building in and staying in. By “in”, I mean within Hives ecosystem.

As many Hivers know, bear is for building especially on Hive. June is usually either a correction of May’s damages, it gives us a glimpse into what July will look like, and July is the beginning of summer, and if summer is going to run, June will tell us. Watch out. Will we be seeing a summer run? Or more boring price action till end of the year?

Let me know what you think.

Have an amazing month!