This item is signed simon petermarket analyst at eToro.
The “Industry Talk” section presents the opinions of cryptocurrency industry players and is not part of the Cryptonews.com editorial content.
Cryptocurrencies had a good week last week, with major cryptocurrencies such as Bitcoin and Ether in positive territory for seven dayswhile others like the Solana and the cardan he posted big bounces (more on that later).
Bitcoin, for its part, started the week below $16,400 but traded higher for seven days, peaking above $17,000 last night. a price increase of 3.65% in seven days.
Ether has seen bigger gains, starting from falling below $1,185 last week before trading above $1,250 mid-week. Last night, the price surged again to just under $1,300, where it’s trading this morning, up 9.7% from the week.
Investors Have Seeked Safe-Haven Cryptocurrencies in 2022 – Data from eToro
2022 has been a tough year for cryptocurrency investorswith significant price volatility the market hasn’t seen since 2018. Our 2022 data shows that investors have been looking to safe-haven cryptocurrencies such as Bitcoin and Ether.
Bitcoin stands apart from other projects as the original decentralized crypto-asset, while Ethereum has seen some high-profile developments over the past year, including the highly anticipated Fusion.
Despite last year’s volatility, around half of the cryptoassets on the eToro platform with at least 12 months of data showed growth in open positions.
This suggests that investors have continued to look to the cryptocurrency market for investment ideas and may even have been looking to acquire cryptocurrencies at a discount thanks to market weakness.
Contact us if you would like to view complete data on the eToro cryptocurrency market 2022.
Mastercard Launches Web3 Artist Accelerator
Payment provider Mastercard has launched a new accelerator designed to help artists, singers, musicians and other creatives use blockchain technology to drive brand engagement with fans. The company partnered with Ethereum scaling platform Polygon for this project.
One of the main strengths of Web3, which is still just a large cryptocurrency label, is the power of the decentralized internet. The market for content created by talented people, especially musicians, is still overwhelmingly dominated by powerful corporations who control much of the pricing and distribution of unique content. This results in rough treatment for creators, as evidenced by big streaming services paying mere pennies for their work.
Web3, as this project suggests, takes that power away from the big 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, giving control back to content creators and talented people who want to directly make a living from what they create.
Cardano and Solana experience strong price bounces
Far from the biggest crypto-assets on the market, Both Cardano and Solana have seen significant price rebounds over the past few days for different reasons.
Cardano has seen a rebound in prices over the past few days thanks to an increase in the total locked value (TVL) on the channel. While still well below the record highs of March 2022, blockchain is seeing some rebound in demand thanks to particular projects such as Combine, Indigo And Wing Riders – all projects offering solutions via the Cardano blockchain.
Solana, meanwhile, has seen its price cut sharply since last year, but it has been one of the best performing crypto-assets in the market over the last week. This is mainly due to the launch of a new token on the blockchain, called the BONKcreated by Solana developers to compete with SHIB.
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