Crypto.com Weekly Market Update (Week 5, 31/01/2022 - 06/02/2022)
BTC finally tops USD40K after multi-week slump. Olympic Committee launches Beijing 2022 NFT game.
Key Takeaways
Bitcoin (BTC) topped USD 40,000 for the first time in two weeks on Friday. The world's biggest cryptocurrency jumped to a two-week high of $40,219 as traders grew more confident in the market following a recent slump.
The International Olympic Committee is collaborating with game developer nWay to launch Olympic Games Jam: Beijing 2022, a play-to-earn multiplayer game, allowing the players to compete in winter sports to earn Olympic NFT digital pins.
Crypto.com launched Polkadot deposits and withdrawals on its exchange and application, after announcing a multi-year partnership with the LeBron James Foundation to offer crypto and blockchain education to underserved communities.
The general price index was positive at +10.77%, while the volume and volatility indices were negative at -21.15% and -1.84%, respectively.
Highlights
Bitcoin returns to $40K, liquidating over $50M of shorts in hours
Global blockchain funding grows by 700% YoY surpassing $25 billion
Bitcoin transfer volumes see a massive uptrend in institutional dominance
Japan's leading general trading company to issue country's first gold-linked crypto
Russians hold over $200B in crypto assets, local government estimates
Canadian Bitcoin ETF sees its third-biggest daily inflow ever
Bitcoin network transaction volume surpasses American Express: Research
Financial disclosures show Ted Cruz made a January 25 Bitcoin purchase
Youtuber and alleged thief publicly refuses to return investors' funds after $750K rug pull
Google is looking to help build web3, blockchain products: Alphabet CEO
China sets certain conditions for blockchain use within the country
Check the latest prices on Crypto.com/Price.
Notable Events
Tezos (XTZ), one of the leading proof-of-stake blockchain platforms, has scored a training kit deal with professional English soccer club Manchester United, The Athletic reports. (ref)
Ethereum's native token Ether (ETH) looks poised to hit $3,500 in the coming sessions as it reclaimed a historically strong support level on Saturday. (ref)
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