Crypto

Bitcoin and Ethereum Rebound

Major crypto assets such as Bitcoin and Ethereum have started to recover their positions after last week. While crypto assets are still below all-time highs, they seem to be entering a recovery phase of sorts.

As such, Bitcoin peaked last week just below $24,000 on the eToro platform, a level not seen since early June. However, Bitcoin has started to fall again and is now around $21,600. However, the difficulty of mining on the network is now much lower, which is potentially an encouraging sign for additional participants such as smaller miners.

Ethereum, meanwhile, is trading at its highest level in a month, surpassing the $1,600 mark on eToro on Friday. Ethereum is something to keep an eye on right now given the potential for long-term rather than cyclical demand trends. All eyes in the crypto asset industry are on the merger, which is getting closer every day and could lead to significant changes in the token economy.

Barclays acquires stake in crypto firm Copper

Large British bank Barclays has acquired a stake in Copper worth about $2 billion. The crypto asset firm is linked to former Chancellor Philip Hammond, who is a senior advisor and investor in the company.

Barclays is part of a group of investors participating in the company’s latest funding round, which provides institutional investors with crypto asset custody, brokerage and settlement services. The announced funding round is another boon for the sector as valuations are still trying to gain momentum in the market.

What we see here is that although the general attitude of investors remains cautious, large institutions such as Barclays are investing in this sector at a healthy level. This has a positive impact on the long-term prospects of the crypto asset industry and highlights the high and constant demand for its innovation.

By 2030, crypto assets will reach a billion users

A Boston Consulting Group (BCG) report shows why this sector still has great potential to be exploited. Together with Bitget and Foresight Ventures, he explores where the crypto asset industry stands in terms of innovation and potential.

Compared to the early days of the internet, this shows that cryptoassets are not at all behind the adoption curve — indeed, what the report considers to be Web 3.0 is ahead of the curve of the internet, as it was in the 1990s. The highlights of the report are the difference in trends between market pricing and user acceptance.

While tensions over difficult crypto asset trading conditions have not yet subsided over the past few months in terms of investment, it is becoming increasingly clear that they are in many ways similar to the dot-com bubble of the early 2000s.

The main trend in terms of investment has been to eliminate bad ideas, with names like Google and Amazon left behind to become today’s internet giants. It is highly likely that companies in the crypto asset sector that continue to thrive despite market adversity will also be tomorrow’s winners.

Dubai’s Metaverse strategy gives insight into the future of work

Dubai has launched a so-called “Metaverse” strategy to harness the potential of this technology and be at the forefront of its development. The emirate says it plans to create around 40,000 virtual jobs over the next five years.

Metaverse is one of the major trends that have emerged in the crypto asset market in the last year. Like NFTs and the crypto asset industry in general, it has struggled to gain momentum in recent months. But initiatives such as the Dubai Project show that the key principle behind the continued operation is being maintained.

Tokens like MANA, RBLX, and SAND are at the forefront of cryptoasset-based metaverse projects, and the two innovations go hand in hand. This is definitely a place to keep an eye on for key innovations, especially with the presence of big state players like Dubai that are encouraging the market.

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