Bitcoin and Ethereum kick the week off with moderate gains
The Cryptocurrency Markets saw some healthy recovery over the weekend, enjoying a 6.6% rise to US$1.13tn come Monday morning.
Bitcoin (BTC) slightly underperformed with a 3.3% rally to US$23,600, while Ethereum (ETH) took the charge by rallying up to 7% to open the week at US$1,730.
It was a bullish kind of a weekend for Binance Exchange is largest decentralised exchange (DEX) PancakeSwap, having added over 16% to its US$680mln market capitalization.
Ethereum is largest DEX Uniswap, on another hand, added a more conservative 1.2%.
The decentralised finance (DeFi) market as a whole is up 2.9% since Friday, with MakerDAO, Aave and decentralised stablecoin exchange Curve all performing well on the markets.
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Oasis Network is ROSE coin jumped 25% in the past 24 hours alone.
The Layer-1 Blockchain Technology gained attention recently following a partnership announcement with Meta to develop privacy-protected AI systems.
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Support for an Ethereum “hard fork” network is growing, with Tron blockchain technology founder Justin Sun pledging to donate funds to developers of the proposed network.
A hard fork is being pushed by existing Ethereum miners who stand to lose substantial revenue streams when Ethereum moves away from mining in the upcoming months.
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Misunderstanding is mounting over Binance is involvement with Indian Cryptocurrency Exchange WazirX after the latter is assets were frozen by India is financial crime-fighting regulatory agency on forex violations.
Binance had previously recognized ownership of the exchange; CEO Changpeng Zhao has now denied the fact in a series of Tweets.
Luxury jewellery retailer Tiffany’s sold out of its limited-edition CryptoPunks pendants in a matter of minutes, raising an estimated US$12.5 million this weekend.
Selling for around US$50,000 each, the pendants will be designed based on each buyer is CryptoPunks NFT and shipped in early 2023.
The company has hinted that a second round will be offered in the near future.
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