Hello Snapshotters,
Bitcoin price has rebounded from its dip, with BTC crossing $65,000 this week. BTC had been trading below $60,000 for about 10 days before it started to recover. The downturn earlier this month was largely driven by Mt. Gox payouts and the German government’s billion-dollar Bitcoin sales.
Read on for more news.
Market Spotlight
Note: Market prices captured in USD at the time of sending. Explore more on Crypto.com/Price.
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News Snaps
🚀 Bitcoin ETFs on Inflows Streak
U.S. spot Bitcoin ETFs were on their ninth day of net inflows on Wednesday, led by BlackRock’s IBIT, which saw $1.21 billion worth of trade volume. BlackRock CEO Larry Fink said in a recent interview that Bitcoin is a “legitimate financial instrument.”
🇪🇺 Euro Crypto ETPs Launched
21Shares announced the launch of three new crypto ETPs on Euronext Paris and Euronext Amsterdam. The ETPs are the latest additions to the company’s European lineup, providing investors exposure to crypto assets.
⬆️ Cronos Upgraded
Cronos upgraded to v1.3.0 this week. The upgrade introduced the e2ee module, enabling end-to-end encrypted communication for users. It also bumps the Cosmovisor version to improve usage during upgrades, plus node stability.
🔄 Mt. Gox Keeps Moving BTC
On Tuesday morning, Mt. Gox moved BTC worth nearly $9 billion in three separate transactions, both internally and to unlabeled addresses. Earlier this month, Mt. Gox had moved 47,229 BTC to a new wallet.
📈 BTC Boosts Stock Price
Japanese investment firm Metaplanet Inc. saw its stock price jump almost 26% after announcing that it has bought additional Bitcoin worth about $1.26 million. This acquisition brings its total BTC holdings to about $14.2 million.
What’s Ahead
First Regulated Euro Stablecoin Planned
DWS, an asset manager that is majority-owned by Deutsche Bank, confirmed plans to launch the first regulated euro-backed stablecoin in 2025. The issuance will be under a joint venture firm called AllUnity, and the stablecoin will be fully regulated by Germany’s financial regulator, BaFin.
Number of the Week
Chart of the Week
BlackRock’s USD Institutional Digital Liquidity Fund, BUIDL, reached a market cap of $500 million last week, less than four months after its launch. It is the first tokenized treasury fund to reach this milestone.
This past Monday, the total market capitalization of tokenized government securities reached $1.7 billion. BUIDL is the largest player with $524 million in market cap, followed by Franklin Templeton’s BENJI with $402 million.
Research & Insights
Monthly Feature Article | New Developments in GameFi: Play-to-Airdrop and Prediction Markets
Both play-to-airdrop and prediction markets have blurred the boundaries between Web2 and Web3. Our latest report looks into new developments in GameFi by delving deeper into these two trends.
Read the full report here.
Crypto Trivia
What year was the Ethereum network officially launched?
A. 2013
B. 2015
C. 2017
Find the correct answer at the end of this newsletter.
Product Picks
DYDX Is Now Available for On-Chain Staking
dYdX (DYDX) is now available for on-chain Staking in the Crypto.com App, in addition to CRO, SOL, APT, SUI, TIA, AVAX, and many more. Conveniently put your idle DYDX to work and receive rewards of up to 12%, as often as three times a week. Stake Now.
Start Playing Mane City With Just Your Email Address!
With the Privy integration, playing Mane City has never been easier. Users can now simply log in to the game with their email addresses and start building their city. Start playing now and stand to win from generous prize pools. For more information, visit the blog here.
Introducing Clearbank for Faster and Simpler GBP Deposits
The GBP Fiat Wallet has just been upgraded. You can now use new bank transfer details with a unique number in your own name to transfer GBP to your Fiat Wallet in seconds, powered by our new vendor, Clearbank. Furthermore, you no longer require a Reference Code for each bank transfer!
Crypto.com App New Token Listings
Gravity (G)
Gravity is a Layer-1 blockchain developed by Galxe and features an omnichain settlement layer built for mass adoption and seamless cross-chain interactions.
Banana Gun (BANANA)
Banana Gun is a cryptocurrency trading tool on Telegram that enables users to efficiently engage in on-chain trading, featuring capabilities such as auto-sniping for new token launches.
Crypto Level Up
What Are Moving Averages?
Moving averages are tools used to analyze data points by creating a series of averages of different subsets of the full data set.
How to Use Moving Averages in Crypto Trading
Traders can use moving averages to smooth out price data, identify trends, and locate potential entry and exit points.
Popular Moving Average Strategies for Crypto Trading
Examples of moving average strategies include identifying golden and death crosses, Bollinger Bands, and support and resistance levels.
Check out the full how-to on Moving Averages.
CryptoIRL
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Hashtag #CryptoIRL with your Crypto.com Visa Card on your social profiles to get featured! Your 15 minutes of fame in the #CROFam awaits you!
Security Tips
High-Profile Twitter Accounts Hacked
Even celebrities aren’t safe from hackers. Recently, individuals with large social media followings have become targets, as Metallica’s X account was compromised and used to promote a fake crypto token, 50 Cent’s social media account was used to promote a pump-and-dump scheme, and billionaire Mark Cuban’s Gmail account was hijacked.
Here’s how to protect yourself:
- Do your own research (DYOR) when you come across promotional material about any project or digital asset.
- Keep in mind that the accounts you are following may be compromised, so act cautiously.
- Stay updated with news so you can be informed immediately when a compromised account is made public.
- Analyze incoming emails before clicking on any links, even if they were sent by a high-profile individual.
Crypto Trivia Answer
B. 2015
That’s it for this week’s Snapshot. Want more? Find out what’s trending in the crypto world.
