Bitcoin has rocketed past $50,000 amid a rally in crypto prices that has also seen Ether spike above $4,000 and the value of altcoins ‘pop’.
Half a billion dollars is heading toward DeFi, NFTs, and scores of other projects. So it’s time to party folks. And a16Z is hosting, as it is once again launching a $400MM fund to expand into new technology. The theme this week seems to be DeFi, where at each tier decentralized finance projects are getting funding.
There is no denying that interest in cryptocurrencies is continuing to grow in America. Despite the fact that the U.S. lags behind many other countries that have a significantly larger percentage of their population invested in digital coins.
Emerging technologies are creating opportunities for greater equity within developing countries that produce the very commodities we consume and utilize on a daily basis.
Recently, the Poly Network had to face the biggest network hack in DeFi history. A hacker known as MrWhiteHat stole people’s funds across blockchains. After being the victim of a $610 million hack, Poly Network took matters into its own hands by announcing a bug bounty program with Immunefi.
When it was discovered that a $150 Million ‘women-led NFT was actually run by some Russian guys, the importance of community and transparency became most evidently clear.
After posting 5 consecutive weeks of gains, it seems as if the price of bitcoin is cooling off and is set to post the first red weekly candle since mid-July 2021. The total cryptocurrency market capitalization is pretty much unchanged since last week (but remains above $2 trillion) and the volatility of most coins is starting to decline, suggesting traders should start paying attention before the next big move occurs.
Well, not quite the $1B mark this week but we did cross half a billion. While Mining and DeFi were the big winners, NFTs continued to attract investor attention, with a third of the projects being funded this week headed that direction. Apparently, they’re the new status symbol for investors.