Crypto Pulse Issue # 7 - Rally Continues Among Macro Fears. Tuesday, August 2, 2022 | Powered by GenShards.
02 Aug 2022, 12:12
📈 Crypto Pulse Issue # 7 - Rally Continues Among Macro Fears
Tuesday, August 2, 2022 | Powered by GenShards
👉 Read the issue || 🐧 Read the tweet thread ||👇You can also find a summary below
⛰Macro Landscape
📌 Crypto prices continued to rally over the past week while the global macroeconomic environment was worsening and fears of a recession grew (source)
📌 Honduras has launched a ‘Bitcoin Valley’ in the tourist town of Santa Lucia. The goal is to encourage tourism, with 60 businesses initially offering the payment feature (source)
📌 Israel has put in place further restrictions on cash payments as a means to combat illegal activity and spur digital payments in the country - and other countries may soon follow (source)
📈 Markets and Ecosystem
📌 Crypto markets stabilized in July with no final capitulation event as many had predicted. There is now around $140 Billion sitting in stablecoins waiting to re-enter markets when the time is right (source)
📌 Ether-based derivatives are heating up as large traders increasingly speculate on the cryptocurrency’s upcoming transition from proof-of-work to proof-of-stake (source)
📌 Memecoins battled it out in the month of July with Shib outperforming Dogecoin by a good margin (source)
🀄️ NFTs and Metaverse
📌 Blockchain gaming and the Metaverse have managed to “sidestep” the collapse of Terra in May — though decentralized finance (DeFi) and nonfungible tokens (NFTs) haven’t been so lucky, a report says (source)
📌 Luxury jewelry brand Tiffany & Co has announced the sale of 250 diamond and gemstone encrusted pendants for CryptoPunk nonfungible token (NFT) holders (source)
📌 Vitalik Buterin is confident that the Metaverse will happen but doesn’t think “any of the existing corporate attempts to intentionally create the Metaverse are going anywhere.” (source)
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