Bitcoin’s Sudden Jump Above US$25,000 Surprises The Market
The sudden jump in Bitcoin’s price to above US$25,000 took the market by surprise in what is commonly a bearish month for cryptocurrencies. It seems the single-day surge in value is a combination of factors that have been impacting Bitcoin positively; this includes the release of CPI data that shows inflation control is on track; a sudden inflow of US$1.6 billion in institutional funds via USDC stablecoins; and a recent spike in interest around the Bitcoin-based Ordinals NFT.
Conflux Network Gains Another Milestone With Latest Chinese Partnership
The DWF-supported Conflux Network continues to make headways into the Chinese Web3 industry on its latest partnership with another major Chinese company. China Telecom, the second-largest telecommunications firm in China, is working with Conflux Network to launch blockchain-enabled SIM cards for its current user base of 391 million subscribers. Pilot testing is due to begin in Hong Kong later this year.
Is An Ethereum Dump On The Charts Post-Shanghai? Not Likely, Says Santiment
Preparations for the upcoming Shanghai upgrade in March are on track, but one question remains. Will the price of the token get rekt upon unlocking ETH withdrawals? Not likely, according to crypto analytics firm Santiment. Their on-chain data shows that the amount of ETH on cryptocurrency exchanges have dipped by 37% since the Merge took place in September last year, and the decline shows no signs of slowing. Most of the ETH are being transferred to non-custodial wallets which means token holders are looking to stake when the upgrade arrives, instead of dumping en masse upon unlocking ETH withdrawals.
Crypto Data Providers Are Critical To The Success Of Web3, Says The Block Research In Their Latest Report
The Block recently touched on the importance of data providers and infrastructures in the latest release report, The State of Digital Assets Data and Infrastructure: 2023 Edition. The report essentially highlights that information is key, but on-chain data providers are playing an important role in helping users make sense of real-time data across the crypto space while providing a range of tools and services to suit their needs. The race is on for data providers like CoinMarketCap and CoinGecko to capture the lion’s share of data users on their platform.
NFT Marketplace Tokens Are The New Kids On The Altcoin Trading Block
Amidst the mini-rivalry between NFT marketplace Opensea and the up-and-coming marketplace Blur over creator royalties, it seems that the event has perked the interest of users towards NFT marketplace tokens. Partially due to the actions of Blur airdropping its platform tokens, the prices of NFT marketplace tokens are seeing an uptrend with other similar tokens like LOOKS and X2Y2, which belong to the LooksRare and X2Y2 NFT marketplace, seeing a 100% and 260% year-to-date increase in their prices respectively.
Web3 Direction Moves From Speculation To Real Utility, Says KPMG
Accounting giant firm KPMG recently released its report, The Pulse of Fintech H2’22, which highlighted the state of financial technology and its investments. Regarding blockchain and cryptocurrencies, more companies are looking at the utility aspect of blockchains as speculation and hype around the technology subsides and the ability for blockchains to solve real issues are brought to the forefront. Decentralized finance (DeFi) solutions are also seeing more business-based utility with SME-focused DeFi loaning and trade financing.
Bitcoin’s Flippening Of Visa Shows Increased Trust In The Token
Bitcoin’s total market cap recently surpassed payments giant Visa’s total market cap with the former’s total cap currently standing at US$480 billion. While Bitcoin’s market cap had been affected by the market volatility from the FTX fallout, its quick recovery shows a continued vested interest by investors and its use in fast payment transactions.
DWF Labs Lead Yield Guild Game’s Funding Round To Develop NFT Digital Identities
DWF Labs recently assisted one of its portfolio investments, Yield Guild Games, to clinch US$13.8 million in fresh new funding to drive its Soulbound Reputation Token initiative. First conceived by Ethereum co-founder Vitalik Buterin, soulbound tokens are non-transferable digital identity tokens that can highlight a person’s credentials. The funding round also saw other reputable VC funds like A16z Crypto and Galaxy Interactive taking part in the private token sales.
DWF-Backed PlayZap Games Scores High On GameFi Leaderboards
PlayZap Games, a community-driven blockchain GameFi platform supported by DWF Labs, has been dominating the scoreboards of the GameFi space. Last week, the platform was listed as one of the top 6 on the BNB chain and top 23 across different blockchains. This week, PlayZap Games trended higher by reaching third place on BNB chain in terms of GameFi engagement and participation.
The Open Network Blows Up On Its Latest Partnership With Atomic Wallet
The Open Network (TON) has recently partnered with the non-custodial cryptocurrency-based Atomic Wallet, and TON holders now have another option to store their assets safely while being able to purchase digital assets on the wallet and exchanging them for TON tokens. The wallet’s absence of account verification also allows users full access and control of their asset holdings as well.
Traveling Soon? Don’t Forget To Pick Up Your NFT Souvenir With WhoWhere
Web3 souvenir magnets could soon become the equivalent of digital fridge magnets when you travel. A new Telegram bot called WhoWhere allows users to find each other around the globe, and chat or arrange for a face-to-face meeting in another country. Users who do so can mint their own unique TON Soulbound NFT after traveling.
The Open Network Makes CoinTelegraph’s List Of Top 100
The Open Network (TON), which is backed by DWF Labs, has been listed as one of the top 100 influencers in crypto and blockchain by crypto media site CoinTelegraph. The list compiles the top few individuals, projects, and technology that has made an impact in 2022, and TON has impressed CoinTelegraph readers with its humble beginnings and rapid development into a successful Layer-1 blockchain today.
Disclaimer: This article should not be taken as financial advice. It is essential to conduct research before making any investment decisions.
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