It was another excellent week for the bulk of the crypto market, with most coins well on their way to a price recovery. The greatest increases were experienced by GALA (up 57.7%) and LEO (up 47.1%). Tokens for gaming platforms also did well, with MANA of Decentraland up 36.6% and AXS of Axie Infinity up 35.5%.
The major cryptocurrencies also did well, with SOL up $113.5, ETH up 15.3%, and BTC up 9.4%. As a result, bitcoin has once again passed the $40,000 mark. Worth a mention also is JUNO up 88.7% and reaching an all-time high, certainly with all these positive moves, cryptocurrency investors will be breathing slightly easier this week.
However, not everyone could be a winner, and a small number of cryptocurrencies moved in the wrong direction. These were CVX (down 5.5%), KLAV (down 3.5%), and XRD (down 3.2%).
The private mining company Merkle Standard has become one of the first to use some of the newest, most sustainable mining computers on the market. It has signed a deal with bitcoin mining rig manufacturer Bitmain to get thousands of its S19 Pro+ Hydro — a machine that uses liquid cooling technology to help the devices last longer and use less power.
Grayscale Investments is a leading asset management company in the crypto world, and it made headlines when it created the Grayscale Bitcoin Trust (GBTC) for bitcoin-related assets. Recently, it’s been planning to convert this trust into a bitcoin spot ETF
The rise of NFTs and the possibilities they offer for a new way to sell items online has encouraged many brands to file trademarks for their products. Nike has now filed lawsuits against StockX, a sneaker reseller that it alleges has taken pictures of Nike shoes and sold them as an NFT without authorization