This Week in Crypto: BTC Rally, ETH Merge, Regulations & More!!
🤝B-Word Brings Bitcoin Back🤝
In the first few minutes of their hour-long discussion, Elon Musk casually commented that SpaceX now holds Bitcoin, and that the technoking himself holds BTC, ETH, and DOGE.
🤑Institutions Double Down On Crypto🤑
Jack Dorsey told Twitter’s top shareholders that they must QUOTE ‘invest aggressively’ in Bitcoin less than 24 hours after the B-Word event ended That same day, JP Morgan became the first bank to allow its retail wealth management clients to invest in a series of exchange traded cryptocurrency products
⛓Ethereum 2.0 This Year?⛓
Ethereum’s development team recently revealed the next Ethereum Improvement Proposal numbered 3675 on Ethereum’s GitHub page. EIP 3675 concerns Ethereum’s transition from proof of work to proof of stake, something which was originally scheduled to take place at the tail end of the Ethereum 2.0 roadmap
🤼♂️Stablecoin Competition Heats Up🤼♂️
Only 61% of the USDC in circulation is backed by cash and cash equivalents, with the rest being backed by government bonds and corporate bonds, which is basically debt This prompted Paxos to push out its own pro transparency propaganda along with a breakdown of the assets backing PAX, Binance’s BUSD, and Gemini’s GUSD, 96% of which are cash and cash equivalents
🕵️♂️Uniswap “Delists” Tokens🕵️♂️
Last Friday, Uniswap shook the crypto community to the core when Uniswap Labs announced it would be “delisting” certain tokens
💱FTX: The Next Best CEX?💱
Last week, FTX raised over 900 million dollars from over 60 investors and VC firms, including Coinbase Ventures. This gives FTX an estimated valuation of 18 billion ☀Weekly Crypto Market Forecast☀ Although I am still hesitant to use technical analysis under these market conditions, I am confident enough to say that we are out of the hole and moving back up. This week’s winners are Axie Infinity, Telcoin, Theta, Quant Network, and OkEx’s OKB token
~~~~~ 📜 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.