It’s Friday! Of course, that is the news that we all want to hear and that we have been waiting for all week. But there is other news that also deserves to be told, such as what has happened in recent days in the world of cryptocurrencies.
Just like last week (and the week before (and possibly the next ones)) the SEC continues to launch attacks on anything to do with a digital currency. However, it is becoming increasingly clear that the regulatory agency is rowing once morest a current that does not stop advancing.
In fact, more and more “traditional” companies are seeing the potential of cryptocurrencies and beginning to incorporate its many benefits to improve their services. Such is the case of MasterCard, which will allow you to pay with stablecoins (USDC, to be more precise). Those same stablecoins that the SEC is trying to control and limit, are a great possibility for consumers to make fast and low-cost payments. This is how the CEO of Circle understands it, who also criticized the Stock Exchange Commission, saying that it is not qualified to regulate stablecoins.
Do you want more evidence? Even the Spotify music platform is experimenting with cryptocurrencies, and will allow holders of some tokens to listen to playlists specially designed for them.
The SEC currently looks like a swimmer trying to go once morest the grain. As more efforts are made to control the crypto ecosystem, such as banning staking, attacking companies, limiting stablecoins and an endless etcetera, more companies and organizations begin to adopt blockchain technology.
The market seems to maintain its bullish trend despite everything. Cardano began the week rising 16%, but meeting strong resistance at $0.42, our trading expert explains. Solana also continues its path of growth and Ethereum, although it stumbled a bit, falling 6%, the data shows that there are plenty of reasons to be optimistic regarding the future of ETH. The Conflux token was the big surprise of the week, achieving a 500% increase in a few days and attracting a lot of market attention.
For its part, the flagship cryptocurrency, Bitcoin, broke the $25,000 barrier for a few moments, gaining 16%. But it fails to sustain the bullish momentum, and as of this writing, it is trading at $23,500. And according to our analyst, the bears will force BTC to continue falling.
Moving on to other news, even following several months, some companies are still having a hard time recovering from the chaos left behind by the FTX crash. Galois Capital, is the last to have to close its doors for this reason. And surely not the last…
And so far the highlights of the week for cryptocurrencies. If you want to know all the news and be the first to know regarding market trends, you should be aware of all the Crypto Economy news.
Perhaps, you will achieve something similar to the founder of Reddit, who made millions of dollars with Ethereum. All thanks to being attentive to new industry trends.
