Weekly Market Analysis: Crypto rallied impressively across the board this week, with EOS & ETH seeing the largest double-digit gains of all coins supported by Bitbuy. Spot volumes grew and are trending above 30 day averages for the past 7 days. Coming up: Dogecoin!
As part of some important wallet upgrades for our upcoming new and improved platform, you may have noticed that some of your Bitbuy wallet addresses have changed.
Please be sure to double-check your Bitbuy wallet address when making crypto deposits to your account.
Deposits send to old addresses are SAFE, but will be delayed in arriving in your account. Be sure to use your new addresses to ensure your crypto deposits arrive in your account as quickly as possible.
By now most crypto enthusiasts have heard of Dogecoin. Yes, it started as a joke, at the same time its one of the most talked about crypto projects of all time.
We go deep on the origins of Dogecoin, how it got meme’d into the mainstream, and where it’s going from here.
Goldman Sachs plans to offer cryptocurrency investment vehicles to its private wealth clients in the second quarter of 2021. Goldman is aiming to offer a ‘full spectrum’ of products, which may be in the form of ‘physical bitcoin, derivatives or traditional investment vehicles’. – link – @CNBC
South Korea announced plans to issue a blockchain protected COVID-19 vaccine passport intended for international travellers. The passport dubbed ‘Green Pass’ will be available via a mobile app, intended for launch later this month. – link – @Reuters
Visa announced it is piloting settling transactions using the Ethereum-based USDC stablecoin. Visa is piloting the ‘capability’ with Crypto.com and Anchorage, a ‘chartered digital asset bank.’ The pilot will involve Crypto.com sending USDC to Visa to ‘settle a portion of its obligations for the Crypto.com Visa card program.’ – link – @TechCrunch
Dapper Labs, the firm behind NFT marketplace NBA Top Shop, has announced a USD 305M funding round led by VC Firm Coatue. The round also included contributions from Michael Jordan and Kevin Durant. The funding will allow further expansion of NFT offerings in other ‘sports, gaming and entertainment experiences.’ – link -@CoinDesk
Ripple Labs Inc., the company behind XRP, plans to take a 40% stake in Tranglo, an Asia-based cross-border payment specialist. The investment is aimed at penetrating the highly fragmented Southeast Asian payment landscape through the RippleNet On-Demand Liquidity service, which uses XRP to send money and reduce working capital needs. – link -@Bloomberg
DISCLAIMER: Nothing in this newsletter should be considered investment advice. The opinions and analysis in this are those of the writer and not of Bitbuy. Buying and selling cryptocurrencies is not without risk.