Here are your crypto highlights of the week in less than 5 minutes.
NFT – CryptoPunks #2924 sold for the 4th ATH for this collection
Challenging the Bear Market trends in this so-called “crypto winter,” DJ SeedPhrase sells the CryptoPunks #2924 NFT for $4.5 Million in ETH. This is considered the fourth highest price for CryptoPunks, preceded by CryptoPunks #5822, sold earlier this year for 8,000 ETH (approximately $23.7 Million).
In addition to attracting market attention for its high value, the NFT purchase provides a “morale boost” for the industry, especially when NFT sales have hit bottom.
And as reported, DJ was running low on liquidity and wanted to spark movement during crypto winter.
Chainlink and SWIFT partnership -shaping the cross-chain future
This partnership works on a cross-chain interoperability protocol (CCIP) in an initial proof-of-concept. This project will enable traditional finance firms to transact on blockchain networks, allowing them to experience the benefits of blockchain technology.
This will undoubtedly contribute to accelerating the adoption of distributed ledger technology (DLT) blockchains and benefit various institutions across capital markets.
UAE Ministry of Economy’s Headquarters in the Metaverse
Emphasizing the UAE government’s adoption of emerging technologies once again, the UAE Ministry of Economy announces the launch of its new headquarters address where anyone in the world can visit the Metaverse.
The headquarters, which is the third address for the ministry in the Metaverse, will allow it to make digital services a more significant part of its operations.
This announcement follows Dubai’s government’s Metaverse strategy revealed earlier this year, which aims to create 40,000 virtual jobs and increase the number of blockchain companies to five times the current number, per the government’s vision of 2030.
UK Pound reaches an ATL to US dollar and its impact on cryptocurrency
With the Pound’s crash-landing, reaching 1 GBP = $1.04, the Pound-Dollar rate reaches its all-time low.
Therefore, many are reconsidering their position on the traditional currency after witnessing an established fiat currency collapsing so quickly and harshly.
Thus, this financial situation happening in Great Britain may be the perfect opportunity that prepares these people to start investing in digital currencies.
And according to Kaiko Research, the transaction volume in the Bitcoin-Pound trading pair in eight major global exchanges reached a record of 846 million pounds ($920 million) last Monday, up from an average of around 54.1 million pounds per day so far in 2022.
Ghana is ready to surpass its counterparts in crypto adoption
As markets in developing countries are heading towards leadership in crypto adoption, Ghana will catch up -and potentially surpass- other African nations like Kenya and Nigeria in crypto usage because of the solutions crypto holds.
The P2P platform Paxful CEO, Ray Youssef recently shared the current growth trends in Ghana, highlighting the promising potential for it to be a leader in terms of crypto adoption. Paxful P2P has seen a 400% growth in trading volume during the last two years generating from Ghana.