Happy Friday! 🔥 Welcome to CryptoSlate Recap, our daily newsletter containing links to some of the top blockchain stories on CryptoSlate and across the web. Up, down, or sideways? Ethereum Classic, Ontology, OmiseGo, Augur, 0x technical analysis Yesterday's wild price action—where bitcoin saw its value jump above $9,000 to then quickly drop to $8,000—has the market wondering whether the bullish trend will continue or if it is time for a correction.

	Recap | Major drawdowns normal in Bitcoin bull markets, analyst says | Binance announces 28 new use cases for BNB, more coming May 31 Public post Happy Friday! 🔥 Welcome to CryptoSlate Recap, our daily newsletter containing links to some of the top blockchain stories on CryptoSlate and across the web. Up, down, or sideways? Ethereum Classic, Ontology, OmiseGo, Augur, 0x technical analysis Yesterday's wild price action—where bitcoin saw its value jump above $9,000 to then quickly drop to $8,000—has the market wondering whether the bullish trend will continue or if it is time for a correction. 5 min read → Major drawdowns normal in Bitcoin bull markets, analyst says Bitcoin surged past $9,000 before plummeting to $8,000 and then recovering around $8,400. While the 8 percent drop was met with concern, one cryptocurrency analyst said that large drawdowns are actually normal in Bitcoin bull markets, adding that even more extreme drops are bound to happen. 2 min read → Nevada Bitcoin broker on LocalBitcoins sentenced to 2 years in prison Morgan Rockcoons, a Nevadan man accused of wire fraud and operating an unlicensed Bitcoin exchange for using LocalBitcoins, was sentenced to nearly two years in prison. According to a government press release, Rockcoons will also have to forfeit $80,600 in illicit profits. 2 min read → Binance announces 28 new use cases for BNB, more coming There are now at least 83 different use cases for storing, using, and spending Binance Coin. The exchange said that its #UseBNB initiative will further increase this number, as more and more platforms are being launched on Binance Chain. 2 min read → Craig Wright's libel lawsuit could cost Peter McCormack up to £750,000 Peter McCormack, the host of the "What Bitcoin Did" podcast, revealed details about the lawsuit Craig Wright had filed against him in April. In a lengthy Twitter thread, McCormack explained the horrific legal ordeal he will have to suffer through to defend himself from Wright's accusations. 2 min read → How far will altcoins correct? Dash, Cosmos, NEM, Bitcoin Diamond, Digitbyte technical analysis Despite the wild price action that the cryptocurrency market went through today—where bitcoin saw its value jump above $9,000 to then quickly drop to $8,000—the charts could help determine where some of the highest market cap altcoins are heading. Dash Dash went through a month-long consolidation period from April to May. 5 min read → [RESEARCH] Analyzing Bitcoin's historical dominance over the crypto market, will BTC continue to dominate? During the last few weeks, many respected analysts have claimed that the bottom is in for bitcoin and the conditions are setting up the market for another "parabolic move," as Peter Brandt explained. 7 min read → ⚡️ The post above is a members-only post for our Research subscribers. To read it, please subscribe to CryptoSlate Research. Subscribe now ICYMI 👀 Another copyright filed for Bitcoin whitepaper, mysterious figure challenges Craig Wright 📈 Coinbase listing opens EOS to millions of retail investors 🧽 Calvin Ayre on Bloomberg: Bitcoin SV will absorb all the other cryptos What else? The President and COO of Coinbase is departing the company after scaling to over $1 billion in revenue. Asiff Hirji@AsiffHirji @coinbase tour of duty over. Scaled to over $1b in revenue; launched new assets, countries, and products; achieved $8b valuation; and built out team. Company in far better place and ready for next chapter. Cheering on @brian_armstrong and the rest of the team. May 31st 2019 6 Retweets123 Likes The #DefendCrypto movement by Kik has already raised its $5 million goal for its legal defense. Mati Greenspan@MatiGreenspan The Kin founded website defendcrypto.org has already raised $5 million. The movement is growing. May 31st 2019 9 Retweets16 Likes Bitcoin metrics at all-time highs. Will price be following soon? Rhythm@Rhythmtrader Bitcoin metrics currently near all-time highs: - Hash rate - Trade volume - Mining difficulty - Transactions per block - Transactions per day - Transaction value per day At what point does a critic admit their wrong? Bitcoin isn't surviving, it's thriving. May 31st 2019 38 Retweets132 Likes Jameson Lopp is offering to provide expert testimony to Peter McCormack in his legal battle against Craig Wright. Jameson Lopp@lopp @PeterMcCormack You flew to the US to allow me to explain my perspective of Bitcoin; I just realized that we chatted about Craig for a few minutes during that 2017 interview. I'll happily return the favor and fly to the UK to explain to a judge that Craig is a pathological liar. May 31st 2019 80 Retweets1,111 Likes Featured blockchain companies Thanks to the following companies for their support: 🌊 Seattle Devcon Blockchain - June 28-30 in Bellevue, WA U.S. - Join us at this accessible and inclusive event for blockchain beginners and advanced level topics.  🚀 OpenCrowd - a design and technology firm creating custom blockchain business solutions for global clients and early startups ⚡️ Blockstation - a leading Canadian FinTech company founded in 2014, provides one of the first digital asset trading solutions for stock exchanges. Want to be featured here? Contact us to learn more. Crypto market data For more pertinent market data, please see: 🌚 Cryptocurrency Rankings 📈 Biggest Gainers - 24h 📉 Biggest Losers - 24h 💰 Highest Volume - 24h 🆕 Recently Added Coins ⚡️ CryptoSlate Research CryptoSlate Research is an an exclusive, premium newsletter that delivers thoroughly researched, long-form analysis from cryptocurrency and blockchain experts. 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