Morning! Welcome to Coinsauce's Daily Roundup🗞️, your essential crypto digest! Subscribe to our newsletter to be well-informed and up-to-date on all the latest developments in the crypto world in a bite-sized, spam-free email. Let’s dive straight to today’s headlines 👇️

Trending over the past 24 hours 👇

1. 🟢 All-in - Tether announces plans to launch Bitcoin Mining in Uruguay

2. 📉 Party over? - Bitcoin closes the month in red after 4 consecutive months of positive prices.

3. 👋 Hello Interoperability - Ordinals launches BRC-721E token format to connect to the Ethereum network

4. 😎 The future is now - Umbrel releases pre-built home server for running Bitcoin Nodes!

Tether’s “electrifying” adventure ⚡

After committing to regularly allocate up to 15% of its net profits for purchasing Bitcoin and claiming to hold ~$1.5 billion in BTC already, stablecoin pioneer Tether is now planning to take an electrifying jump into the bitcoin mining space by setting up shop in Uruguay. Talk about taking a leap of faith 🟢

This venture will mark Tether's maiden voyage into the energy sector, aiming to diversify revenue streams for backing USDT. Uruguay's energy landscape boasts over 94% renewable electricity generation, primarily from wind and hydropower, making it an ideal place to mine cheap and green bitcoin!

With Tether already holding 2% of its total reserves in BTC, it is clear that the issuer of the largest stablecoin is extremely bullish on the future of bitcoin, and is not shying away from going all-in ❗

Bitcoin takes a pit stop 💤

After outperforming every other asset class and rallying ~85% from $16,500 to $30,700 since the start of the year, bitcoin has finally decided to take a breather. After 4 consecutive months of positive price action, the price of Bitcoin has finally fallen by ~7.7% in the month of May to just under $28,000.

This marks the 1st monthly price dip for Bitcoin since January 2023. In the meanwhile, S&P has rallied by just ~10%, and gold by ~8%, indicating a more than 10X outperformance by Bitcoin against both these assets 🚀

However, with the bitcoin halving less than a year away, we expect the price action to remain somewhat choppy for the remaining of the year, so do not be surprised to see a few more red months this year!

Remember folks, every dip is an opportunity to scoop up bitcoin at these attractive valuations! Always DYOR and practice risk management. Don’t FOMO into questionable projects and remember the mantra : Slow and steady wins the race 🐢

From ERC to BRC 😅

The Ordinals market recently unveiled a new token standard called BRC-721E, allowing traders to transfer their Ethereum-based NFTs to Ordinals. This innovative standard enables the conversion of ERC-721 NFTs, which are known for their immutability and verifiability, into Ordinals.

To initiate the migration process, users need to burn 🔥 their ERC-721 NFTs using an Ethereum call function. This burning process is irreversible and serves as an on-chain inscription method. To claim the Ethereum burn on the Bitcoin blockchain, users must inscribe valid BRC-721E data. Once this step is completed, the bridged NFT will be displayed on a dedicated Ordinals market collection page with comprehensive metadata.

This development comes just days after the Oridnals surpassed over 10 million inscriptions! From modest beginnings to 10 million inscriptions, it looks like Bitcoin NFTs may just be getting started and ready to challenge the ERC-721’s shortly 🔮

A personal server for digital freedom 🕊️

Umbrel has unveiled Umbrel Home, a new personal home server offering that empowers individuals to regain control of their digital lives.

By leveraging umbrelOS, users can eliminate the need for third-party cloud services by utilizing a wide range of self-hosted apps including a Bitcoin/Lightning node, Nextcloud, Plex and Home Assistant 🔥 

This significant release aligns with the company’s mission of putting privacy and security front and center, by providing a personal home server solution and ensuring data privacy without relying on cloud services, thereby making self-hosting accessible for all 🤞 

Pre-orders for Umbrel Home are now available on their website for $699, with shipping set to begin in June 2023!

The following are the device specifications 👇️ 

Meme of the day

And that's all for today's Coinsauce Special - the perfect blend of crypto insights and flavorful puns 😄 We hope you enjoyed today's highlights. Remember to follow us on social media to stay updated with the latest updates. Until next time, keep bitcoin ❗️

Disclaimer: This newsletter is educational and does not constitute financial advice. You must exercise caution and conduct your research before making any financial decisions.

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