Many Soaring, Some Record Breaking, and NFTing.

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Another great crypto week is over. Let’s recap what happened. Bitcoin reached another ATH as US inflation rose to its highest point in 30 years. The value of paper money fell to an all-time low compared with hard assets. Analysts believe that the current bitcoin rally is healthy and has less leverage than previous occasions. DOGE surged and then fell following an update. Ethereum Name Service governance token was also flying on its first day of trading. Kadena, a competitor to Ethereum, was also soaring on its DeFi news and NFT gaming. Taproot, the Bitcoin-based crypto-wallet, was to be activated this week . Also, Optimism was being upgraded. Robinhood claims that it has some 1.5m people on their waitlist for the crypto wallet. Discord appears to be currently working on a link with Ethereum and Twitter is launching Twitter Blockchain. A gang tried to steal the bitcoin of an American entrepreneur.

Stratis surveyed 72% of game developers and found that they are interested in blockchain and NFTs. AMC considered launching its cryptocurrency and partnering up with Hollywood studios to launch NFTs. However, Activate Consulting forecast that NFTs will become mainstream by 2022. While the top South Korean financial regulator stated that NFTs were not cryptoassets in South Korea, Christie’s in the UK sold a Beeple for USD 28.9m.

While the Russian Ministry of Economic Development stated that they were open to legalizing BTC and crypto-mining, the central bank denied it. A major Swedish power company supported Bitcoin mining while regulators proposed a ban. The main presidential candidates in South Korea stated they were for delaying or amending crypto tax. However, police discovered that the man who attempted to arson at Upbit’s customer service center had made a terrible cryptoasset investment. Seoul will be the first local government to launch an metaverse public service platform .

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