Here’s your crypto highlights of the week in less than 5 minutes.
Dogecoin madness continues
Dogecoin investors continued making high profits after Elon Musk’s Twitter takeover, and speculations of adding a Dogecoin wallet to the social network. Unofficial news of putting Twitter’s crypto wallet plans on hold slowed down the bull run a little, but couldn’t reverse it. Dogecoin’s price climbed in the last 7 days by more than 49%, reaching a six-month high of $0.14, with a monthly rise of more than 86.5%.
Bitcoin holds its grounds against the interest rate hike
US Federal Reserve announced on Wednesday a rise of interest rates by 0.75% for the fourth consecutive time this year, leading the crypto market into a short bearish run. Bitcoin price dropped as low as $20,040 before recovering most of its losses and going back up to over $20,600 today, below its all-week high of $21,085, but still ending the week with an over 2% profit.
Polygon NFTs to integrate with Instagram
Instagram users will soon be able to create Polygon-based NFTs and sell them to their fans through the platform itself, an announcement by Meta said on Wednesday. The new feature will be soon tested with a small group of content creators in the US, and Meta will also work on expanding the types of digital collectibles that users can showcase on Instagram to include video, as well as supporting other blockchain wallets, like Solana.
Game of Thrones NFTs coming soon
Warner Bros. partnered with NFTs platform Nifty’s to release an NFTs collection for the popular HBO’s show Game of Thrones, promising to make it available this winter. The new “Game of Thrones: Build Your Realm” collection might be out before 2023, but prices have not been revealed yet. This step seems to be taken to aid Warner Bros with its financial difficulties through monetizing its most popular show, as it reported losses of 3.4 billion dollars in the third quarter of the year.
South African supermarkets chain to accept crypto in all stores
After experimenting with cryptocurrency payments for several years, South African supermarkets chain Pick n Pay will allow consumers to pay for groceries with crypto at 39 stores nationwide. The retailer said it ran the pilot in 10 Western Cape stores over the past five months, and now its rolling out the new payment method to all of its stores, weeks after South Africa’s Financial Sector Conduct Authority declared crypto assets as financial products, allowing hundreds of traditional financial institutions to provide crypto products and services.
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