Nike Sues StockX, Government Concern Over NFTs, ETH and BTC Price Up

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