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Weekly Wrap: A promising young crypto

Didn’t the week just fly by? Because a lot has happened since your last update. Here’s your weekly recap of a crypto market that is now recovering on the backs of assets like LUNA, WAVES and more.

TL;DR

Is LUNA the new crypto underdog?

The long term viability of crypto project Terra just got stronger as its token LUNA has made it to the top 10 cryptocurrencies overtaking other popular cryptos like Shiba Inu, Dogecoin, Litecoin and more. LUNA has a current market value of over 34 billion dollars, growing by 70 percent in price this week. LUNA emerged as the best performing asset last month, while the performance of other top tokens, mainly bitcoin and Ether, in the same period came out to be around 12.25% and 9%, respectively. Read full story here.

eBay to accept crypto. What’s stopping the rest? 

The e-commerce giant is thinking of accepting payments in crypto, and according to CEO Jamie Lannone, eBay would most likely make the official announcement on the company’s investors day, on March 10.Back in 2014, eBay was considering adding support for bitcoin payments to its retail platform and has been mulling ever since to add crypto payment options. Read more here.

How Wall Street is widening further into crypto 

Leading bank JP Morgan Chase intends to invest in TRM Labs, a blockchain analysis startup that would help the bank monitor the flow of illegal crypto transactions. This comes after another Wall Street giant BNY Mellon revealed its plans of integrating crypto analytical tools from Chainalysis. In February last year, BNY Mellon announced that it was building the industry’s first multi-asset digital custody platform for traditional and digital assets.

Bitcoin enters top 15 most valuable currencies

Bitcoin has been through a massive recovery with the rest of the crypto market led by Ethereum following suit. What really made headlines was a 24 hours surge in value by 13%, pushing its market cap above that of the Russian ruble, entering  the top 15 most valuable currencies. At the same time, the ruble crumbled in price and bitcoin is currently just below the Swiss franc. So what are you waiting for? Buy bitcoin here.

How Waves gained 115% in market value

Waves has outperformed several popular cryptocurrencies in the past week with a 115% hike in value. The protocol’s recent announcements could be one of the reasons for the price growth. Waves is set to migrate to Waves 2.0 that will connect it with other popular blockchain networks. Its upcoming launch of a $150 million fund aims at nurturing the protocol’s growth in the United States. At current price, WAVES is worth about $20 with over 14% hike in the past 24 hours. Want to invest in WAVES? Buy some here.

Here’s the warm side of crypto

Ukraine has raised more than $30 million from more than 26,000 crypto donations. The country’s official Twitter account shared addresses to accept Ethereum, bitcoin and Tether donations. The decision came after the central bank’s imposition of a daily cash withdrawal limit of 100,000 Hryvnias ($3,350) to control the outflow of cash from the country. Meanwhile, decentralized exchange Uniswap created an interface that allows users to easily swap ERC-20 tokens on the Ethereum blockchain and donate them to the Ukrainian government in one single transaction. 

How to be fashionably decentralized?

Virtual gaming marketplace, Decentraland is all set to host the first-ever Metaverse Fashion Week (MVFW) on its platform. The event that will feature the likes of Tommy Hilfiger, Selfridges, Cavalli, Eli Saab, Vogue Arabia and others will be hosted in a span of four days, with virtual runway shows to exhibit artificial intelligence fashion and wearable tech in the form of NFTs. It is planned to take place in Decentraland’s new Luxury Fashion District.

What are you doing this weekend?

We’ll be using our super crypto powers to transform the outdoor Party Plaza at Comic Con this weekend. Make sure to stop by and tag us when you see us. Take this reading list along for some wise company:

  • It’s only words: Use this guide to better explain bitcoin to newcomers or understand the crypto for yourself. Take the orange pill here. 
  • Nvidia confirms hack: Investigate the attack on Nvidia and what ransomwares are demanding from the popular tech firm. Read more. 

Also Read: Weekly Wrap: Ali Baba’s NFT game and more