🗞 Daily Crypto News, May, 11th💰

Welcome to the Daily Crypto News: A complete News Review, Coin Calendar and Analysis. Enjoy!

🗞 Market Wrap: Stellar, ICP Pop as Altcoin Season Takes Ether to Fresh High

Stellar jumps by double digits, Dfinity’s ICP debuts on the Coinbase Pro exchange and ether hits $4,200, albeit briefly. Despite bitcoin’s doldrums, data from the futures market shows traders are ready to take on more leverage on BTC.

Ether’s 24-hour range: $3,884-$4,200 (CoinDesk 20)

Stellar (XLM) trading around $0.68 as of 21:00 UTC (4 p.m. ET). Gaining 10.8% over the previous 24 hours.

Bitcoin (BTC) trading around $55,685 as of 21:00 UTC (4 p.m. ET). Slipping 3% over the previous 24 hours.

Stellar’s rally offers fresh reminder it’s altcoin season

https://static.coindesk.com/wp-content/uploads/2021/05/xlm510-775x403.png?format=webp

“I think the fact Stellar added stablecoin on- [and] off-ramps helped a lot to boost the price,” said investment manager Constantin Kogan.

Ether’s price continues to sparkle

https://static.coindesk.com/wp-content/uploads/2021/05/ether510-775x400.png?format=webp

“Ethereum has been pushing stable growth and hitting new all-time highs, albeit this is being eclipsed by the gains in the alt market,” Friedman said.

https://static.coindesk.com/wp-content/uploads/2021/05/ethdom510-775x401.png?format=webp

“We are witnessing a prolonged ether and [decentralized finance] catchup phase after a long period when most institutional interest was clustered around bitcoin,” said Jean-Marc Bonnefous, partner at investment firm Tellurian Capital. “This shows in the growth in CME ether futures and also in the fact that the move up is relatively orderly.”

https://static.coindesk.com/wp-content/uploads/2021/05/ethvsbtc510-775x401.png?format=webp

Bitcoin swaps funding trends up

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One bullish signal is occurring in the bitcoin derivatives market. On Monday perpetual swaps funding, which is the rate paid for leverage on BTC derivatives venues, is on an upswing, going as high as 0.0987% per eight-hour period on Binance.

https://static.coindesk.com/wp-content/uploads/2021/05/skew_btc_perpetual_swaps_funding-4-775x433.png?format=webp

🗞 Bitcoin Privacy Feud Erupts After Edward Snowden Pans Long-Awaited Taproot Upgrade

Core devs say the Taproot software update for Bitcoin will improve privacy. Edward Snowden said it doesn't fix Bitcoin's bigger privacy problem. Who's right?

Edward Snowden said Bitcoin core developers have not prioritized privacy.

Some Bitcoin developers and privacy advocates disagreed with his assessment.

Edward Snowden is a former National Security Agency contractor who exposed a secret surveillance program of American citizens. As one of the world's foremost privacy advocates, he thinks Bitcoin isn't private enough—and that an upcoming software update could make it worse.

"Cryptocurrency, and by this I'm just going to say Bitcoin, is really failing comprehensively, terribly, on the privacy angle," Snowden told the Electronic Frontier Foundation's Marta Belcher at the Ethereal Summit on Thursday. Taproot, he added, isn't a good fix.

Look at what Taproot actually does. Taproot does not fix Bitcoin's privacy problem. And there are some arguments it actually makes privacy worse by sort of fragmenting address space, making forensic sort of flow analysis easier."

He went on to praise privacy coins Zcash and Monero and urged Bitcoin to be "private-by-design"

🗞 Ubisoft Unveils the Next Batch of Crypto Startups It Plans to Help Grow

Major game publisher Ubisoft has added five new crypto startups to its Entrepreneurs Lab accelerator program.

Past members include the startups behind rising Ethereum-based crypto games like Sorare and Axie Infinity.

Gaming giant Ubisoft is the only major, traditional video game publisher that is deeply immersed in the blockchain scene. The publisher behind massive game franchises like Assassin’s Creed and Just Dance has not only released a couple of its own experimental crypto

Today, the publisher announced the latest batch of startups that will join the program for its sixth season, which will split into two different tracks: blockchain—which has been a core part of the program from the start—and “positive entertainment,” which includes startups creating games with educational or therapeutic aspects, for example.

This season’s new blockchain-related startups are aleph.im, Crucible, Guild of Guardians, Horizon Blockchain Games, and NonFungible. Two of those startups develop actual blockchain-based games: Guild of Guardians is a mobile role-playing game (RPG) developed by Stepico Games and published by Immutable (Gods Unchained), while Horizon Blockchain Games is the team behind upcoming card-battler Skyweaver and creator of the Sequence wallet and developer platform.

🗞 NFL quarterback Tom Brady hints at owning Bitcoin

Tampa Bay Buccaneers quarterback Tom Brady, arguably one of the most talented American football players of all time, has hinted that he’s a Bitcoiner.

On Monday, Brady changed his Twitter profile picture to one with laser eyes, potentially implying to his 1.9 million followers that he is invested in Bitcoin (BTC). The football star made the change less than a day after Blockworks co-founder Jason Yanowitz challenged him to do so and provided the updated picture.

The crypto asset's price was seemingly unaffected by the NFL player's pseudo-announcement. At the time of publication, BTC's price is $57,500, having risen 8% in the last seven days. However, players in the crypto space including MicroStrategy CEO Michael Saylor and Anthony Pompliano both acknowledged Brady's presumed entry as a Bitcoiner.

🗞 Daily Crypto Calendar, May, 11th💰

Zilliqa (ZIL)

"On May 11, Zilliqa will undergo a mainnet upgrade to v. 8.0.0. Following the upgrade, our staking contract will transition to phase 1.1."

Origin Protocol (OGN)

"OGN at 50% Discount, Start of subscription: May 11, 2021, 11:00 KST"

PlotX (PLOT)

Listing details: $PLOT will be listed on MXC on 11th May 2021 at 1 pm UTC. Trading pair: PLOT/USDT.

Lisk (LSK)

"Lisk (LSK) will list on Okcoin Japan, LSK/JPY"

1inch (1INCH)

"1inch (1INCH) will be listed on Bitfinex."

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