Market Analysis Report (09 May 2022)

Google’s cloud unit is forming a team to build services for developers running blockchain applications in a bid to capitalize on the growing popularity of the crypto space.

Meta’s Instagram is reportedly planning to integrate non-fungible tokens (NFTs) from multiple blockchain networks, including Ethereum, Polygon, Solana, and Flow. These networks currently host the vast majority of digital collectibles.

The Luna Foundation Guard (LFG) has said it will lend out $1.5 billion worth of Bitcoin and its stablecoin UST in order to defend the latter’s peg. The announcement came shortly after UST’s price dipped below $1.

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Top stories in the Crypto Roundup today:

  • Google Forms Web3 Team
  • Instagram to Support NFTs from Ethereum, Polygon, Solana, and Flow
  • Luna Foundation Guard Lends $1.5 Billion in BTC to Defend UST Peg
  • CryptoCompare Asset Report Snapshot: April 2022
  • Sponsored: Bybit – Earn Up to $60 in BTC Welcome Rewards!

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