A good week for crypto-assets

Bitcoin, meanwhile, started the week below $16,400 but has been trading higher for seven days, peaking above $17,000 last night – a 3.65% price gain in seven days.

Ether had bigger gains, starting last week below $1,185 before trading above $1,250 by 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 difficult year for crypto asset investors, with significant price volatility that the market has not seen since 2018. Our 2022 data shows that investors have sought safe haven cryptos like Bitcoin and Bitcoin. 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 have 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.

Mastercard Launches Web3 Artist Accelerator

Payments 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 just a big 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 infancy, but crypto-asset and blockchain technology still has an important role to play in it, returning control to content creators and talented people who want to earn a living directly from what they create.

Cardano and Solana experience sharp price increases

By far the biggest crypto-assets on the market, Cardano and Solana have both 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 Blocked Value (TVL) on the chain. Although still well below the record levels of March 2022, blockchain is seeing a return in demand thanks to niche projects such as Meld, Indigo and WingRiders – all projects offering solutions through the Cardano blockchain.

Solana, meanwhile, has seen its price drop significantly since last year, but has been one of the best performing cryptoassets on the market over the past week. This is mainly due to the launch of a new token on the blockchain, called BONK, which was created by Solana developers to compete with SHIB.

Comment from Simon Peters, market analyst at eToro.

-END-

This is a marketing communication and should not be considered investment advice, a personal recommendation, an offer or a solicitation to buy or sell financial instruments. This material has been prepared without regard to particular investment objectives or financial situations and has not been prepared in accordance with legal and regulatory requirements intended to promote independent research. Any reference to the past performance of a financial instrument, an index or a packaged investment product does not constitute and should not be considered a reliable indicator of future results.

The entire content of this report is provided for informational purposes only and does not constitute financial advice. eToro makes no representation and assumes no responsibility for the accuracy or completeness of the content of this publication, which has been prepared using publicly available information.

Cryptoassets are volatile instruments that can fluctuate wildly in a very short period of time and are therefore not suitable for all investors. Apart from CFDs, cryptocurrency trading is unregulated and therefore not overseen by any European regulatory framework. Your capital is at risk.

About eToro
eToro was founded in 2007 with the aim of opening the international markets to all those who wish to invest simply and transparently. eToro offers individuals the opportunity to invest by giving them access to a multitude of financial assets, ranging from stocks to commodities to crypto-assets. The eToro community has over 27 million registered members who share their investment strategies and are free to follow the best of them. The eToro platform allows investors to buy, hold and sell assets, track their portfolio performance in real time and trade easily and whenever they want.

Legal Notice
eToro is regulated in Europe by the Cyprus Securities and Exchange Commission and regulated in the UK by the Financial Conduct Authority and the Australian Securities and Investments Commission.

Leave a Comment