We had to be the bearer of bad news in last week’s crypto price check, with the market plummeting from all directions. Fortunately, the last seven days have been far better, so it looks like investors can all stop holding their breath.
The most impressive results came from LRC, which saw its price increase by 42.2% — followed by SNX (up 42.2%), FLOW (up 35%), and CRO (up 28.8%). All these coins are still a long way away from their all-time highs (especially LRC), but at least the graphs are moving in the right direction.
Not all the market has been quite so lucky, but most coins haven’t experienced more than a mild drop. LUNA fell 21.6% and KSM by 11.4%, while BTTOLD and OSMO only decreased by 5% each.
Where do the biggest cryptocurrencies fit into this picture? The bitcoin price enjoyed a modest increase of 8%, while ethereum (ETH) rose by 8.8% and solona (SOL) by just 1%.
One of the biggest stories last week was the fall from grace of Wonderland. On Thursday, it was revealed that the DeFi protocol’s founder (who uses the pseudonym 0xSifu) is actually Michael Patryn — a convicted criminal who founded a fraudulent cryptocurrency exchange called QuadrigaCX.
And remember how we just said LUNA of the Terra blockchain fell by 21.6% last week? This is because Terra’s founder Daniele Sestagalli is also the founder of Wonderland.
El Salvador might have famously made bitcoin legal tender last year, but it seemed unlikely that any developed countries would follow in its example. Yet in a surprise move, Arizona has introduced a bill to do exactly that in the state.
We’ve seen a flurry of major companies hiring for crypto-related positions recently, so it shouldn’t come as a surprise that Google is following the general trend. Google Cloud is currently looking for a team of blockchain experts.
The cold storage wallet provider Arculus may be edging closer to competitors like Trezoe and Ledger, with speculation that it could become the third-biggest hardware wallet provider by the end of 2023. This could give a significant revenue boost to its owner CompoSecure, with one analyst predicting it could sell 160,000 units this year and even more next year.