- Bitcoin is making a resurgence in price movements, closing the week above $21,000 and pulling with it the wider crypto market.
- Shiba Inu and Vechain have led the market after some strategic partnerships that promise to extend their mass adoption.
The market is brimming with promise with many analysts calling the end of the bear market and the beginning of the bull run. Already, a majority of coins led by Bitcoin and Ethereum have marked a new year high. For Bitcoin (BTC), the digital asset reached a year high of $21,000 over the weekend. Ethereum (ETH) on the other hand climbed above $1,500. Not only has altcoins followed in the same suit, but have continued in their work to build and engage in strategic partnerships for the future. In our weekly brief, we take a look at some of the most notable developments from the past week.
BTC and ETH Rally
Bitcoin and Ethereum made headlines throughout the week as they turned bullish. After gaining more than 20 percent in the last 7 days, Bitcoin closes the week trading close $21,000. The crypto king is still facing some resistance at this level. With investors cautiously optimistic, they are looking unto $25,000 as the next test…Read More
#Bitcoin price is back to the pre-“FTX” levels.
Decentralized technologies are extremely resilient.
— CZ 🔶 Binance (@cz_binance) January 15, 2023
Ethereum, the second-largest cryptocurrency, has also marked a new high for the year. Like Bitcoin, Ethereum has added more than 20 percent in the last seven days, pushing its price above $1,500. The largest altcoin is now primed for a push to $1,700. Interestingly, during the week MetaMask wallet launched staking for users using Lido and Rocket pool staking services…Read More
Samsung launches Bitcoin Futures ETF
In part, Bitcoin gains came off the news that industry giant Samsung is launching a Bitcoin futures ETF. The Samsung Bitcoin Futures Active ETF will be listed on the Chicago Mercantile Exchange (CME) for interested traders.
Bitcoin futures remain the most favorable means for institutional investors to get involved in the crypto market. As such, the entrance of the South Korean tech giant is a huge boost to the crypto market, not only in the Asian market but also globally…Read More
VeChain joins forces to build scalable metaverse
The Vechain network has marked a key development in the fast-rising metaverse space. The Vechain ecosystem is joining forces with several companies including L’Oréal’s venture capital fund BOLD and the British Fashion Council that have come together to develop a metaverse ecosystem. BOLD, Venture Reality Fund Venrex and the British Fashion Council among others have raised $4 million in a funding round for a French metaverse developer dubbed Digital Village.
“L’Oréal and the BFC invested $4M in French metaverse developer, Digital Village.” 🤝
DV is building a scalable, #sustainable and collectively prosperous #metaverse with #VeChain. ⛓️@LOrealGroupe @BFC @evelynxmora @vechainofficial @digitalvillage0https://t.co/RkPQ9V9cza
— eisenreich (@eisenreich) January 12, 2023
VeChain network anticipates growing exponentially in the future with the development of Digital Village for retail purposes…Read More
Elon Musk’s Twitter adds Shiba Inu for 360M people
Earlier this week, reports emerged that Twitter is working on a feature that allows users to purchase crypto, powered by the Stripe payments platform. In addition, Elon Musk’s social media giant Twitter launched the price graph chart for Shiba Inu (SHIB). Before this, Twitter already offered price graph charts for other crypto assets including BTC, ETH, and Doge.
Twitter has long been the go-to platform for the crypto community for the latest developments. Musk’s acquisition of Twitter has further fueled speculations that Twitter could get even more crypto-friendly in the times ahead…Read More
SEC charges Gemini and Genesis
According to a Jan 12 press release, the Securities and Exchange Commission (SEC) has charged crypto lending firm Genesis and crypto exchange Gemini with violations of securities laws. Gemini’s Earn program constitutes an offer and sale of unregistered securities. The two firms have cost hundreds of thousands of investors billions of dollars according to the regulator.
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The partnership between the two firms ended in November 2022 when the crypto exchange FTX collapsed. Genesis announced that it had run into a liquidity shortage due to the market’s volatility and funds locked in FTX…Read More
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