Weekly Crypto Market Roundup - April 10, 2022
Welcome to the crypto market roundup. The crypto landscape is constantly evolving. To help you stay informed, we’ve curated the most exciting crypto content and news you should know about from the previous week.
Why is Crypto Crashing?
The crypto market tumbled midweek sparked by the U.S Federal Reserve’s plan for aggressive monetary policy tightening erasing most of the previous two weeks’ gains, Coindesk reported.
“The Fed aims to tamp down inflation without igniting a recession,” Ed Yardeni of Yardeni Research said in a note. “Investors are skeptical, but we expect inflation will moderate later this year".
The Fed is also set to start cutting its balance sheet in the coming months. The meeting minutes revealed that officials “generally agreed” it should shrink its balance sheet by $95B per month. The crypto and stock market all fell on the news.
How Crypto Performed Last Week
Best Performing Categories
Top News Recap
A new Ethereum token standard called ERC-4626 could help solve composability issues in DeFi and make yield-bearing tokens more secure - Cryptobriefing
Can Ethereum’s merge kickstart DeFi Summer 2022? Ten reasons why Ethereum price could hit $10,000 - FXStreet
Is Apple about to send Bitcoin to the moon? Rumors are that Apple may include Bitcoin as part of its Apple Pay service - Cryptoslate
Tesla, Block and Blockstream team up to mine bitcoin off solar power in Texas - CNBC
Ronin Network which powers Axie Infinity was bailed out by Binance after a $625 million hack - BBC
Luna Foundation Guard buys $100 Million in Avax tokens for stablecoin reserve - The Block
Galaxy Digital Co-Head of trading recently explained why he believes that Ethereum will end up flipping Bitcoin - News BTC
The UK plans to make stablecoins a recognized payment method, relax their crypto rules, and release an NFT - coinmarketcap
Weekend Watching - Bitcoin 2022 Conference
Peter Thiel calls Warren Buffett a “Sociopathic Grandpa” for not being a full crypto head. Cathie Wood’s $1 Million Bitcoin price target and a ‘laser eyes’ bull takes spotlight at the annual Bitcoin 2022 Conference.
Crypto Adoption News
MetaMask rolls out Apple Pay integration - Cointelegraph
Luxury brand Off-White will now accept crypto - Vogue
The UK government plans to create an NFT - Coindesk
Top Venture Funding Activity
Lightning Labs raises $70M to bring low-fee stablecoins and asset transfers to the Bitcoin Lightening Network - Coindesk
NEAR Protocol Raises $350 Million in New Funding Round Led by Tiger Global - The Block
Fractal raises $35 Million, a new marketplace for gamers to discover, buy and sell gaming NFTs - Medium
Moneybox raised $46 Million, a mobile savings and investment app — with participation from Fidelity International Strategic Ventures, and Polar Capital - The Block
Latest Crypto Policies from G20
Other News and Top Reads
ExxonMobil has been mining Bitcoin for more than 1 year and plans to expand its mining activity - CNBC
CME Group is considering altcoin futures on Solana and Cardano - The Block
Shark Tank investor Kevin O'Leary believes ‘Spigots of capital’ will flood into crypto once policy and regulation are set -Insider
Mcdonalds and Walmart plan to accept Bitcoin via Lightning Network - Crypto Gazette
Algorithmic stablecoin Neutrino loses peg - Bloomberg
Elon Musk buys a 9.2% stake in Twitter, becoming its largest shareholder - Global News
Disclaimer: A quick reminder that all research and market analysis is provided for educational and informational purposes, and should not be considered as investment or financial advice.