Weekly newsletter - Crypto Daily™ - Issue #4

The crypto space looks to have had a tumultuous week, with the markets crashing the hacking of crypto.com that led to the loss of millions. However, there have also been some promising developments, with the Taproot soft work going live on Liquid, and big players such as Microsoft, Meta, Alphabet, and Twitter all looking to explore NFTs, blockchain, and the Metaverse. Let’s look at some of the most significant developments from the past week.

Bitcoin (BTC/USD) continued to suffer from negative technical sentiment early in today’s Asian session as the pair continued to eye the psychologically-important 35000 figure.

The users for the current phase were selected out of almost 1.6 million applications on a waitlist for the crypto wallet.

The United States Central Bank, also known as the Federal Reserve has released a new whitepaper discussing the benefits, downsides, and potential costs involved in launching a Digital Dollar

The Central bank of Argentina has announced that it will be taking action against cryptocurrency investment companies that offer “returns through operations with crypto assets and cryptocurrencies that are not compatible with reasonable parameters in financial operations.” 

Crypto exchange Binance is in discussions with Indonesia’s PT Bank Central Asia and PT Telkom to set up a cryptocurrency trading exchange. The addition of a cryptocurrency exchange in Indonesia would stimulate the growing Indonesian crypto economy, and increase adoption in the crypto-friendly nation.

ETH is approaching an important support zone that would have to hold the price. Currently, the price is stagnating around $ 2,500. The next support is 0.786 Fib Retracement. Big drops in BTC are also reflected in ETH.

Cracking the Top 10 GameFi projects volume list since March, play-to-earn platform Metaverse Miner is now the first major space-themed metaverse project on the blockchain thanks to Gameplay and Tokenomics.

With bitcoin suffering yet another drop in price today, the El Salvadoran bitcoin position is now well under water. The current economic outlook is bleak with its five-year credit default swap having more than quadrupled since September, meaning that a default on repayments could be soon.

Her Majesty’s Treasury wants to bring the promotion of crypto-assets into the remit of the Financial Conduct Authority (FCA), and implies that crypto investors do not understand the technology nor the risks involved.