Crypto.com Weekly Market Update (Week 6, 07/02/2022 – 13/02/2022)
BTC jumps to four-week high last Friday, up 26%. CRO Crypto.com signs 9-year sponsorship deal with Formula 1 Miami Grand Prix.
Key Takeaways
The cryptocurrency market has been juggling between highs and lows in recent weeks. Bitcoin (BTC) jumped to a four-week high on Friday, up nearly 26% from 22 January, but it was up barely 1% at $42,390.92 on Sunday.
BlackRock is reportedly gearing up to offer crypto trading services to its investor clients. This will allow investors to borrow from the world’s largest asset manager by providing cryptocurrencies as collateral.
Crypto.com has signed a nine-year sponsorship deal with Formula 1, which will see Crypto.com become the official title partner of F1’s newest race, Miami Grand Prix, with its logo featuring on the podium and winners' trophies.
The general price and volume indices were positive at +0.38% and +22.24%, respectively, while the volatility index was negative at -18.59%.
Highlights
Bitcoin makes huge leap to cross 50-day average for the first time in 3 months
Russians’ dormant Bitcoin wallets on a steady rise for the last 18 months
Intel to enter crypto space with blockchain accelerator shipping later this year
Microsoft Corp. seeks for a crypto business director to build its Web 3.0
Bitcoin made over 1,300 new millionaires in the last 30 days
Ethereum beats out Walmart, Mastercard to be 25th largest asset in the world
BlockFi faces $100M in penalties over crypto interest accounts: Report
Bitcoin network hash rate explodes to a new all-time high of 248.11 EH/s
China’s CDC proposes a blockchain and 5G-based solution to global vaccine tracking
Check the latest prices on Crypto.com/Price.
Notable Events
Cardano (ADA) has launched the latest version of the Daedalus wallet, bringing vast improvements and addressing issues like blockchain verification progress. ADA has thus surged in value and currently has a market capitalisation of $37.8 billion. (ref)
Ethereum's (ETH) lagging price and high volatility followed a recent announcement by Federal Reserve Chairman Jerome Powell that the Fed will likely begin increasing rates in March to counteract continued rising inflation. (ref)
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