Hey Folks,
It’s Monday again, and that means its time for another weekly crypto review!
If I could summarise last week’s headlines in a word, that word would be: hope. We saw a lot of bullish news come out even as the crypto market crashed, and there are a few major themes I noticed.
For starters, institutions bought the dip big time. Besides the usual suspects like Microstrategy and El Salvador, Whale Alert’s twitter feed is littered with evidence of large investors accumulating BTC and ETH (moving it off exchanges). On chain analysis indicators support this accumulation idea.
The second theme I saw over the last week is an uptick in interest around altcoins, especially Solana, Polygon, and Algorand. Institutions can’t seem to get enough of Grayscale’s new Solana Trust, Polygon got a few ETPs of its own, and Alogrand will be getting hundreds of millions in funding.
There’s a lot of investment happening on the infrastructure side as well. Crypto.com and FTX are making big moves, and it looks like Jack Dorsey is dead set on turning Square into a crypto company after stepping down as the CEO of Twitter. I wonder what this means for Twitter’s crypto plans though…
And last but not least we have vindication; authorities in various countries admitting that cryptocurrency competes with the filthy fiat financial system. This list even includes SEC Chairman Gary Gensler. It’s going to be interesting to see what happens when all those crypto CEOs testify later this week.
These are just a few of the headlines that caught my eye, and believe me when I say that this week’s crypto review is not one that you want to miss!
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⛓️ 🔗 Useful Links 🔗 ⛓️
► El Salvador Buys The Dip: https://cointelegraph.com/news/el-sal…
► Microstrategy Buys The Dip: https://cointelegraph.com/news/micros…
► Bitcoin Backed Loans At Big Banks: https://www.coindesk.com/business/202…
► Solana Grayscale Trust: https://www.coindesk.com/business/202…
► Polygon ETP: https://www.coindesk.com/business/202…
► Algorand 500 Million Dollar Fund: https://cointelegraph.com/news/border…
► Aave Institutional Platform: https://www.coindesk.com/business/202…
► Crypto.com Acquires 2 US Exchanges: https://cointelegraph.com/news/crypto…
► FTX 1.5B Raise: https://www.coindesk.com/business/202…
► Bitmart Hack: https://cointelegraph.com/news/bitmar…
► Badger DAO Hack: https://cointelegraph.com/news/badger…
► Celsius Affected: https://www.coindesk.com/markets/2021…
► Forbes 30 Under 30 Crypto: https://cointelegraph.com/news/15-cry…
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📜 Disclaimer 📜
The information contained herein is for informational purposes only. Nothing herein shall be construed to be financial legal or tax advice. The content of this video is solely the opinions of the speaker who is not a licensed financial advisor or registered investment advisor. Trading cryptocurrencies poses considerable risk of loss. The speaker does not guarantee any particular outcome.
