This article is signed Simon Petersmarket analyst at eToro.
The Industry Talk section presents the views of crypto industry players and is not part of the editorial content of Cryptonews.com.
Crypto-assets had a good week last week, with major cryptos like Bitcoin and Ether in seven-day positive territorywhile others like Solana AND Cardano posted big jumps (more on that below).
Bitcoin, meanwhile, started the week below $16,400 but traded higher over seven days, peaking above $17,000 last night – or a price increase of 3.65% in seven days.
Ether saw greater profits, starting last week below $1,185 before trading above $1,250 mid-week. Last night, the price climbed back up to just under $1,300, where it is trading this morning, up 9.7% on the week.
Investors Looked For Safe Crypto Assets In 2022 – eToro Data
2022 has been a tough year for crypto-asset investorswith significant price volatility the market has not seen since 2018. Our data from 2022 shows that investors have been looking for safe cryptos like Bitcoin and Ether.
Bitcoin stands out from other projects because it is the original decentralized crypto-asset, while Ethereum has seen several high-profile developments over the past year, including the long-awaited Fusion.
Despite last year’s volatility, about half of the cryptos on the eToro platform with at least 12 months of data showed increases in open positions.
This suggests that investors continued to look to the crypto-asset market for investment ideas and may even have sought to buy crypto-assets at a discount thanks to market weakness.
Contact us if you want to view the complete eToro crypto-asset market data 2022.
Mastercard Launches Web3 Artist Accelerator
Payment provider Mastercard has launched a new accelerator designed to help artists, singers, musicians and other creators use blockchain technology to promote brand engagement with fans. The company has partnered with Ethereum scaling platform Polygon for this project.
One of the main selling points of Web3 – which is still only a major label in crypto – is the power of the decentralized internet. The market for content created by talented people – especially musicians – is still largely dominated by powerful corporations that control much of the pricing and distribution of unique content. This translates into harsh treatment for creators, as evidenced by major streaming services paying pennies for their work.
Web3, as this project suggests, takes that power away from the large corporations that control it and gives it back to individual content creators. The concept of Web3 is still in its infancybut crypto-asset and blockchain technology still has an important role to play in this, returning control to content creators and talented people who want to make a living directly from what they create.
Cardano and Solana experience sharp price increases
Far from the biggest crypto-assets on the market, Both Cardano and Solana have seen significant price increases in recent days for different reasons.
Cardano has seen a price rebound in recent days thanks to the increase in Total Connected Value (TVL) on the channel. Although still well below the record levels of March 2022, blockchain is seeing a return in demand thanks to specific projects such as stir, purple AND WingRiders – all projects that provide solutions through the Cardano blockchain.
Solana, meanwhile, has seen a significant drop in its price since last year, but it has been one of the best performing crypto-assets in the market over the past week. This is mainly due to the launch of a new token on the blockchain, called BONKwhich was created by Solana developers to compete with SHIB.
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