Crypto Market Pulse (03/04/2023)

China to improve its blockchain technology by 2025. Mitsubishi UFJ Financial Group teams with local players for stablecoin interoperability pilot. Wrigley plans its own metaverse called ‘Juicyverse’.

Weekly Market Index

Last week’s crypto market prices were up slightly at +1.74%. Volume dropped by -31.68% and volatility increased +7.98%.

Weekly Performance

Bitcoin (BTC) and Ethereum (ETH) were slightly down -1.3% and -0.1% in the past seven days, respectively. Other selected top-cap tokens were mixed.

News Highlights

• China’s Ministry of Industry and Information Technology, a regulator for the Chinese fintech industry, said it intends to improve standards for its blockchain technology development by 2025. 
• Germany’s second-largest stock exchange and one of the largest in Europe, Boerse Stuttgart, to provide both trading and custody solutions for their crypto asset offerings through its subsidiary Blocknox.
• Japanese bank Mitsubishi UFJ Financial Group and domestic blockchain players are teaming up to launch a stablecoin interoperability pilot.
• American multinational chewing gum company Wrigley plans to enter Web3 through NFTs and its own Metaverse called “Juicyverse”, according to a new patent filing with the United States Patent and Trademark Office (USPTO).

Recent Research Reports

Catalyst Calendar

Disclaimer:

The information in this report is provided as general market commentary by Crypto.com and its affiliates, and does not constitute any financial, investment, legal, tax, or any other advice. This report is not intended to offer or recommend any access to products and/or services. While we endeavour to publish and maintain accurate information, we do not guarantee the accuracy, completeness, or usefulness of any information in this report nor do we adopt nor endorse, nor are we responsible for, the accuracy or reliability of any information submitted by other parties.

This report is not directed or intended for distribution to, or use by, any person or entity who is a citizen or resident of, or located in a jurisdiction, where such distribution or use would be contrary to applicable law or that would subject Crypto.com and/or its affiliates to any registration or licensing requirement.

The brands and the logos appearing in this report are registered trademarks of their respective owners.

Author

Research and Insights Team

Get fresh market updates delivered straight to your inbox:

Be the first to hear about new insights: