Weekly Market Update (Week 15, 11/04/2022 – 17/04/2022)

US inflation comes in hotter at 8.5%, with rate hikes likely to continue into 2023. Epic Games raise $2B to fund the Metaverse. Bored Ape Yacht Club is set to create a film trilogy.

Key Takeaways

• The Bureau of Labor Statistics reported headline inflation for the USA at 8.5%, above the Dow Jones estimate of 8.4%. To reduce inflation, the Federal Reserve has begun raising interest rates and will continue to do so into 2023. 
• The Bank for International Settlements (BIS) released a study on how central bank digital currencies (CBDCs) can play a role in financial inclusion. The range of topics included using CBDCs as a catalyst to innovate and also to serve as a complement to existing systems.
• The popular NFT collection is set to release a trilogy film. Also, Bored Ape Yacht Club (BAYC) creator Yuga Labs has teamed up with Superplastic to create vinyl art collectibles based on the collection.
• The general price, volume, and volatility indices were mixed at -5.77%, -8.27%, and +23.23% respectively.

Highlights

• Bank of Japan official says Digital Yen won’t be used to achieve negative interest rate
• Bank of Canada using quantum computing to simulate crypto adoption scenarios
• Central Bank of Brazil confirms it will run a pilot test for its CBDC this year
• Institutional Asset Manager enlists Fireblocks to help with crypto security
• Fortnite creators Epic Games raise $2B from Sony and LEGO to fund Metaverse plans
• Pantera Capital set to close $1.3B Blockchain fund
• BlackRock to handle Circle’s USDC cash reserves as part of $400M funding round
• Ava Labs raises $350M at $5.25B valuation: Report
• A16z leads $4M seed round for Web 3 recurring payments startup
• AMC adds Dogecoin, Shiba Inu payments to mobile app
• Polygon pledges $20M to fund its carbon negative initiative
• Opera expands crypto browser to iOS for access to 9 Blockchain ecosystems

Check the latest prices on Crypto.com/Price.

Market Index Tokens

DeFi Index Tokens

Other Tokens