What Crypto Did: The News from the Month
In the latest episode of Crypto Curious, your hosts Tracey, Blake, and Craig discuss all crypto-related news from the past month.
After two weeks of solid increases in late March, the cryptocurrency market experienced a ‘dead cat bounce’ in early April and dropped by around 10%, losing all previous gains. The economy lacks stimulus and inflation combined with the ongoing war in Ukraine has spooked the market, but crypto could still stand out as a hedge in times of crisis. Since the U.S. inflation rate of 8.5% was announced recently, Bitcoin has enjoyed a mild 3% recovery.
Elon Musk’s recent purchase of Twitter shares gives him a 9% stake in the company, causing unrest amongst Twitter employees who worry about his anti-censorship beliefs. However, Dogecoin has enjoyed a surge in price as he continues his push for DOGE to become a payment option on Twitter. At the recent Telsa giga-factory launch in Texas, Dogecoin mascots were present and Dogecoin logos appeared on projectors.
Solana is also doing well after being added to Opensea, the world’s most dominant NFT marketplace. Currently, the Solana NFT marketplace Magic Eden only has about 10% of the volume of Opensea and while Solana NFTs only account for about 10% of those on Ethereum, they have half as many buyers - so we can expect an explosion in popularity here. Ethereum has also been in the news after completing its final public test last week in preparation for its move to a proof-of-stake (PoS) blockchain. The upgrade should improve scalability and transaction volume, and users can earn up to 12% interest from staking.
And in some final news: at last week’s Miami Bitcoin 2022 Conference the mayor unveiled a Bitcoin bull statue and Stripe announced an integration with Shopify to allow BTC payments over the Lightning Network.
Listen to the full episode for more news about Goldman Sachs’ new OTC desk, 19 million Bitcoin mined, and Australia’s Blockchain Week.
Click the link below to tune in on your favoured platform.
Spotify Apple Google