Crypto news: A Weekly Review

Bitcoin, the most valuable crypto by market capitalization, which presently trading slightly around $46,000, down from a peak earlier in the day above $47,000 and down nearly 1% in the previous 24 hours. Ether, the second-largest crypto by market cap, was trading at slightly more than $3,400, down around 1.5 percent.


Crypto prices moved with major equity markets, which have been mainly down as investors expected more interest rate rises to fight inflation, which has risen to about 8% in the United States. The Nasdaq, which is centered on technology, plummeted 2.2 %, while the S&P 500 slid 1.2 %.


In the meantime, Europe has faced moral and economic concerns about Russia’s aggressive invasion of neighboring Ukraine. Shocking images of citizens being massacred in the town of Bucha, near Ukraine’s capital of Kyiv, have sparked widespread criticism. Among the nations that have expelled Russian ambassadors are Spain, Denmark, and Sweden, while the United States and other countries that have denounced Russia are drafting more economic restrictions. Let’s take a closer look at what transpired in the cryptoverse.


Related article | Bitcoin & Ethereum Market Overview


Bitcoin Monthly Outflows Reach Historically High Value


On-chain data shows the Bitcoin monthly outflows have recently reached values only seen a few times before in the crypto’s entire history. This kind of trend, when sustained, may prove to be bullish for the price of the coin as it can indicate that investors are accumulating right now. The Bitcoin exchange net position change has been highly negative recently. Over the past month, there has been a net outflow amounting to around 96.2k BTC. In the long-term, inflows have overwhelmed outflows for much of the history of the coin.


Crypto Fear And Greed Turn Neutral, What’s Next?


The Fear and Greed index is currently at the neutral ground after it saw a major spike from below. Sudden moves into either extreme usually signal a price reversal. The chart above fits this thesis as long periods of fearfulness are followed by a period of greed, Arcane Research says. The Fear and Greed Index has stabilized at neutral levels, fluctuating around 50 throughout the week. There are over $30 million in asks orders with little support below.


The Bitcoin Miami Conference could offer Bitcoin and the crypto market some short-term support. It could see important bullish announcements like last year.


MicroStrategy Acquires 4,167 BTC And Marathon Holds 1,259 Self-Mined BTC


Another day, another MicroStrategy bitcoin acquisition. Michael Saylor-led company is relentless in its BTC accumulation strategy. Marathon Digital Holdings doubles down on its no-selling policy. Will these two giants go down in history as pioneers of the digital currency industry? Marathon Digital Holdings announced very healthy-sounding numbers.


The company produced a record 1,258.6 self-mined bitcoin during Q1 2022. In March alone, they “successfully deployed 1,320 miners”. The company’s accumulation strategy began in October 2020, the last time Marathon sold bitcoin.


Dogecoin Soared After Elon Musk Bought 9.2% Of Twitter, What’s Next?


Elon Musk bought a 9.2% stake in Twitter, becoming the company’s largest shareholder. Many expect this to mean that Musk will be pushing a plan to adjust Twitter closer to his beliefs and lead to a buyout. Dogecoin (DOGE) jumped over 25% in pre-market trading. DOGE jumped 8.36% on the day following the news that Twitter will accept Dogecoin as payment for Tesla merchandise. The meme coin could see a significant uptrend in the following days if the bulls manage to fuel above the 200-day SMA price.


Secretum: The Messaging App of the Web 3.0 Era


Web 3.0 could be an even bigger paradigm shift than the Web 2.0 era. More than 3 billion people use messaging apps, sending an average of 145 billion messages every day. Forecasts show that the metaverse sector will reach a value of up to $1.54 trillion by 2030. Secrets are encrypted and stored on independent nodes in the Secretum network. Easy, intuitive, and purely P2P trading interface to send and receive cryptocurrencies and Non-Fungible Tokens (NFTs). The last round of Secretum Private Token Sale with 3,000,000 SER tokens at a rate of $0.50 will end on April 22, 2022.


Ertha’s Inter-Metaverse Portal NFTs Bought for $60K


Ertha’s community has already spent over $60,000 on these NFTs. Portals are an easy source of passive income. Landowners earn revenue from each transaction. This news comes after the record-breaking $120,000 sale of Rome and $59,000 for Tokyo. $ERTHA tokens can be used to influence in-game political policies, purchase land, develop real estate, and much more. Use the ERTHA token to extract resources, develop land, rebuild economies, and reform countries and their governments.


Metaverse May Be Worth $13 Trillion By 2030, US Banking Giant Citi Says


Citi sees the internet’s future as a collection of decentralized technology and virtual environments. The investment bank estimates the metaverse’s economy may be worth up to $13 trillion by 2030. Its expansive vision encompasses smart manufacturing technology, virtual advertising, online events, and digital currencies. Citi estimates that 5 billion people will use the virtual world by 2030. Goldman Sachs estimated the sector’s value at $12.5 trillion in a December report.


Morgan Stanley anticipated the same figure for the metaverse in November of last year. Bank of America believes it represents a big opportunity for the entire crypto industry.


Fantom Announces 335M Incentive In FTM, Price Reacts To The Upside


The Fantom Foundation announced an extension of its Incentive Program. This extension will disburse 335 million in FTM to continue to provide financial aid to developers. The users will decide the allocation, and projects with more support from the users will receive “greater FTM matching rewards”. The Fantom Foundation also announced that they will be participating in the upcoming Gitcoin Grants round. Fantom saw a negative impact when Andre Cronje announced his departure from the project. The price of its native token, FTM, has recovered and trades at $1.56 at the time of writing.


Crypto Firm Announces Partnership With Football Star Lionel Messi


Crypto firm has partnered with football star Lionel Messi. The footballer is taking part in a campaign as a brand ambassador. This opens up new horizons for crypto and sports fans of what they can do with these tokens. They can have a say in what their favorite teams do through these fan tokens. Messi is one of the most decorated footballers of all time. He holds seven Ballon d’Ors and six Golden Boots, more than any other footballer.

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