Crypto News: Polkadot, Polygon, Avalanche, Solana & More!
Hey Guys,
Down days like these are no fun, but luckily you have my weekly crypto review to lift you up!
Don't let the price action fool you - the fundamentals for cryptocurrency continue to improve, and the announcements we've seen over the last week are just the tip of the iceberg.
Hundreds of millions of dollars keep pouring into crypto projects, primarily Ethereum alternatives. Some of these projects are spending a lot of money to expand their ecosystems, notably Polygon and Solana who announced another few hundred million dollars to that end.
NFTs also continue to gain some serious traction, and the latest brand to break out the JPEGs is Adidas. The Adidas NFT collection managed to briefly beat Axie Infinity by trading volume last week, and though this volume has calmed down, it's a certainly a sign of things to come.
We can expect to see a lot of NFT volatility too, because Bitwise has introduced an NFT fund for institutions which includes exposure to top NFT collections like the Bored Ape Yacht club. It's one of many NFT funds that we've seen over the last few months, and it won't be the last.
Funds in various countries are also opening their doors to cryptocurrency including 400 savings banks in Germany (pending a vote). What's interesting is that most of these funds are geared towards altcoins rather than Bitcoin, which could be a sign that we're approaching the top.
I also give you my take on what comes next in my weekly crypto market forecast, so be sure to stick around to the end to get that.
All I'll say here is that it's some realistic hopium that you need to hear!
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⛓️ 🔗 Useful Links 🔗 ⛓️
► CoinMarketCap Glitch: https://cointelegraph.com/news/only-a...
► Polygon 200m Decentralized Social Media Fund: https://cointelegraph.com/news/reddit...
► Solana 150m Crypto Gaming Fund: https://decrypt.co/88309/solana-ventu...
► Adidas NFTs: https://decrypt.co/88705/adidas-ether...
► Polkadot Parachains Plug In: https://cointelegraph.com/news/polkad...
► BitGo AVAX For Institutions: https://www.coindesk.com/business/202...
► SBI Crypto Fund For Japanese Investors: https://cointelegraph.com/news/sbi-gr...
► Federal Reserve Accelerates Taper: https://www.cnbc.com/2021/12/15/fed-s...
► Stablecoin Hearing Summary: https://cointelegraph.com/news/senate...
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📜 Disclaimer 📜
The information contained herein is for informational purposes only. Nothing herein shall be construed to be financial legal or tax advice. The content of this video is solely the opinions of the speaker who is not a licensed financial advisor or registered investment advisor. Trading cryptocurrencies poses considerable risk of loss. The speaker does not guarantee any particular outcome.
