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Transcript:
Hi guys, welcome to NFT Daily News. We will take a look at MillionToken metrics for the month of May.
Bitcoin was down sixteen percent. SOV was down by eighteen percent. SOV, is a governance token with speciality tied to Defi on Bitcoin. If you want to learn more about SOV, you can click on this video. I think it will be big in the future, but not financial advice there. MillionToken was down by twenty six percent in May.
However, it got worse for other projects. Ethereum was down by twenty nine percent. DogeCoin was down by thirty five percent. Matic was down by forty percent. Shiba Inu was down by forty five percent. And Solana was down by almost fifty percent. Pretty insane times.
And I want to keep it real with you guys by telling you it will most likely get worse as most of the world economies contract. So in my personal opinion it is not the time to go all in unless you are one hundred percent able to afford to see these things go much lower and possibly to zero.
I suggest just nibbling here and there and micro-DCA on your favorite cryptos and build or do something in this space like learn and create interesting use cases. But before you buy anything, as always please speak to a financial advisor. And lastly, remember that MillionToken is pegged to one dollar and most of these tokens will continue to bleed against the strong currencies which is obvious to most people by now.
Now let us take a look at the other ecosystems and how they performed for the month. The telegram group lost five percent of its audience. MillionToken Discord lost half a percent. Twitter gained five percent new followers and defi pro gained about six percent new followers for the month of May. So good job overall.
We will now transition to new transactions for the month of May on Million Token which is far to the right. This was slightly higher than the month of April so not bad there. The previous months are obviously down because the price of Bitcoin and the global economy has killed everything in the crypto space.
And we now focus on the new account holders. This is down for the month of May which comes to no surprise as people decide whether to buy bread or cryptos in this inflationary time. Folks discretionary incomes are on high alert in everything that includes food, homes, gas and other things. Also keep in mind these accounts could be bots or programmable contracts so just pay attention to the trend and that trend is still down.