DWF Crypto Snapshot
[12 Jan — 18 Jan, 2023]
Shanghai Upgrade Well On Track With Latest Testnet Developments
The next upgrade on the Ethereum network is moving along well as the team behind its development released a new network called “devnet 2” to help client teams prepare for the network shift. The network is mainly developed to test and find bugs that could potentially affect the withdrawal of staked Ethereum tokens. The team also plans to create a shadow fork which mimics the mainnet to check the code development too.
Bitcoin Rebounds From Its Lows Back To $21,000
2023 has been good news for the crypto market as Bitcoin rebounds from a low $16,500 at the end of December to an optimistic $21,647 with a gain of 22.5%. This price rally comes as trading volume for the asset increases across exchanges, along with the decoupling of cryptocurrency price movements from equities and stocks.
Innovation And Sound Practices Are Key For Cryptocurrency Integration
The Bank for International Settlements has proposed three suggestions to approaching cryptocurrencies in the wake of the market volatility in 2022, and their third point of integrating cryptocurrencies with traditional finance in a responsible manner is considered the ideal solution moving forward. The entity has advised to work with responsible players that are committed to a safe and sustainable crypto industry.
Universities Pioneer Crypto-Focused Courses For The Web3 Industry
The blockchain and cryptocurrency field is a nascent industry that has grown by leaps and bounds in the past decade since Bitcoin’s inception, and universities like Texas A&M are now offering structured Bitcoin courses to its students where they will learn how to build a Bitcoin library. Other academies like Boston University Law School also offers crypto regulation courses for law students looking to navigate the decentralized space.
Reversal of Bitcoin Derivatives Show Market Optimism, Says Cointelegraph Research Report
The positive news from the Federal Bureau on the Consumer Price Index (CPI) saw Bitcoin’s price move upwards in a temporary bull run last month, but it was not enough to keep long traders from being liquidated after the options expired. But according to Cointelegraph, the 25-day Bitcoin options skew has improved by 46% since November, which may indicate that market traders are becoming bullish about Bitcoin prices.
BAYC Fans Go Ape Over Yuga Lab’s Latest NFT Game
Yuga Labs may be throwing some toilet humor into the mix with their latest non-fungible token (NFT) game, but the hype is nothing to sniff at. The company behind the Bored Ape Yacht Club (BAYC) NFT series launched its plans for Dookey Dash, an ‘endless runner’ web game that requires a Sewer Pass NFT to play. Only holders of the BAYC series will get a pass, but it can be resold to others on marketplaces.
Centralized Exchanges Fill The Power Gap Left By FTX
As the market begins to stabilize after the flurry of volatility caused by the FTX saga, other exchanges are making their move to fill the cryptocurrency power vacuum in the industry around the world. In Canada, two of the largest exchanges, Coinsquare and WonderFi, are expanding the idea of a merger with announcements to be made soon. In Nigeria, crypto exchange Roqqu has acquired its European virtual currency license which will allow them to move into over 30 countries and broaden its digital asset services.
Samsung Continues Its Foray Into The Crypto Space
Having launched the metaverse for their Latin American user base in December, the Korean conglomerate is making its way into the crypto space via another sector — asset management. The Samsung Asset Management Company recently launched its spot Bitcoin exchange-traded fund (ETF) in the Hong Kong market, and they are looking to add more products to their portfolio while monitoring Hong Kong’s crypto landscape.
