Crypto.com Weekly Market Update (Week 52, 27/12/2021 - 2/1/2022)

Bitcoin starts 2022 at USD 47,200. MicroStrategy announced a $94M investment amid a $250B market crash.

Key Takeaways

• Bitcoin (BTC) starts 2022 at USD 47,200, as fresh research pins performance on China trader exodus. The deplatforming of Chinese citizens by crypto exchanges prior to the 31 December 2021 deadline may have added to BTC selling pressure.

• MicroStrategy, Bitcoin’s biggest corporate backer, announced its $94 million investment amid a $250 billion crypto market crash. ​​The publicly-traded firm said in a Thursday filing that it bought another 1,914 BTC for around $94.2 million in cash in December.

• Crypto.com has become a Gold Member of the Singapore Blockchain Innovation Programme, which is a national-level partnership anchored at the National University of Singapore aiming to strengthen the nation’s blockchain ecosystem.

• The general price index increased by +5.86%, while the volume and volatility indices decreased by -18.28% and -15.60%, respectively.

Highlights

• MicroStrategy purchased another $94.2M worth of Bitcoin during December

• Russia’s largest bank launches country’s first blockchain-focused ETF

• Bitcoin wallet with $24M from Satoshi era suddenly activates after 10.5 years

• Mexican billionaire encourages Twitter followers to invest in Bitcoin

• Bitcoin climbs above $48,000 as this historical indicator flips bullish

• Bitcoin falls back below $50,000 as crypto markets stumble

• 75,615 Bitcoins wired by anonymous wallets as BTC dives below $50,000

• Dogecoin foundation announces roadmap to implement $DOGE staking

• Top ETH whales still prefer SHIB as a leading asset: details

• 7 NFL players that chose crypto over cash salaries

• Hundreds of El Salvador citizens report missing Bitcoin from their wallets

• Eminem purchases Bored Ape Yacht Club NFT for $462,000

• Bitcoin, Ethereum, metaverse tokens sink after the holiday crypto rally

Check the latest prices on crypto.com/price.

Notable Events

The cryptocurrency market ended 2021 with a day of sell-offs. Cosmos's ATOM was among the top-performing tokens over the last day of trading (ref). It broke and closed above the overhead resistance at $34 on 1 January (ref).

Bitcoin (BTC) climbed to intraday highs of $48,548 on 31 December (ref). The technical outlook depicts price improvement after Bitcoin marked three straight days of losses this week; daily RSI is sharply rising toward the neutral 50 as the price recovers.

Notable Events

Varen Finance introduced VarenX: a new cross-chain swapping DApp powered by RenVM (REN). In the past week, it has released demos showing various cross-chain swaps such as LUNA to BTC. (ref, ref)

Uni.Vote was released. This tool allows for gasless voting and delegation for Uniswap ($UNI) community governance. (ref)

AAVE announced plans to build a mobile wallet. (ref)

Notable Events

My Neighbor Alice received a metaverse grant of $80 million and has already made successful NFT sales. Players can purchase virtual islands, collect unique items, and meet other user avatars, all while enjoying the perks of the play-to-earn model. At the time of writing, the ALICE token has a market cap of $371 million and is trading at $12.15. (ref)

Owner of the Bigger Entertainment crypto label, Steven Cooper, announced on Twitter that his project team has burned another batch of 2.5 billion Shiba Inu (SHIB) coins, while 1.5 million SHIB are waiting to be taken out of circulation, too.

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