Here's your weekly story wrap for the cryptocurrency and NFT markets. We'll give you a quick snap-shot of the major news and price changes that should be on your radar. Let's get started!
The last seven days turned out to be even rockier for the crypto market than the previous week, with almost every coin in the top 100 market cap list undergoing a price drop — many of them significant. Right at the bottom was SPELL, which fell 37.9% after having another bad week. It wasn’t alone though..
However, there were a few exceptions to the rule that all coins had a bad week with six cryptocurrencies in the top 100 market cap exhibiting net gains. Leading the way was LINK, which increased by 32.5% in value — it’s still far away from its all-time highs. There were others coins that also appreciated.
Mutual funds are the perfect option if you’re not an investment nerd like me and would prefer to sit back whilst your money works for you.
India has been in the news in the crypto world this week for a few reasons. For one, its central bank created a fintech department focused on handling cryptocurrency-related issues — above all, on creating regulations. The nation is also researching the possibility of creating a central bank digital currency (CBDC),
PayPal was one of the entities to add functionality to buy cryptocurrencies to its offering in 2021, but the payment processing giant has now taken this one step further by seemingly introducing its own stablecoin.
The successful NFT collection Pudgy Penguins (which features digital images of uniquely adorned penguins) appears to face uncertainty after its founders were voted out of the project due to concerns about their performance and use of funds.