WEEKLY UPDATE - 15 JULY 2022
What Happened In Crypto This Week
This week in Crypto, we saw BTC pump by 12%, Celsius repaid most of its loans then filed for bankruptcy, and some lucky people may get to share 140K Bitcoin. Of course, the biggest news was the US inflation data, and it was worse than expected. If you’ve been following our weekly recaps, you’ll know high inflation in the traditional economy is usually followed by interest rate hikes – which is bad for Crypto. We discuss all these and more below.
Bitcoin and the overall Crypto market started the week on a high note. A 12.5% rally rolled over from the weekend – pushing BTC close to its biggest weekly close for 9 months, and reports showed that wallets holding ETH reached an all-time high. But despite all these positive updates, the mood in the market remained understated. Why? Because by now, everyone understands that the market won’t become bullish until external macros ease up.
QNT up 49% due to technical indicators
Quant Network is a blockchain platform that facilitates the exchange of data between other blockchains. This type of interoperability is a key feature of the future web 3.0, and projects in this space are well regarded in the Crypto ecosystem. This week’s 49% rise by QNT was inspired by technical indicators. Firstly, the 20 and 50-day moving averages completed a bullish crossover. Then the RSI signalled an optimal buying zone, prompting traders to keep the faith and push QNT up to $90.
AAVE pumps after stablecoin announcement
The Big News
What would you do with 140K Bitcoin?
How to earn bonuses from Crypto exchanges
Shanghai includes Web3 and blockchain in 5-year plan
Celsius files for voluntary Chapter 11 bankruptcy
Celsius has filed for Chapter 11 bankruptcy, a move the company claims will position it for future success. However, customer funds remain locked.
The NFL to share NFT ticket stubs during ‘22 season
Multicoin Capital raises $430M for Crypto startups
Leading US venture capital firm, Multicoin Capital, has launched a $430 million fund for early and later-stage projects in the Crypto space.
🤑 Unstoppable Domains
Change your wallet’s alphanumeric code to a cool username and receive Crypto in style. From $5+
Fellow Moon Birdies..
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