Ultimately, the digital currency market ends the current trading week with losses due to a weak Sunday afternoon. Nevertheless, the short-term losses should not hide the excellent development in 2023, which hardly any expert would have expected. Also in the last seven days there was some crypto news that moved the markets. Every investor should keep the following 10 crypto news in retrospect in mind.
This gaming token could explode by 10x in 2023
1. Quarterly figures from Big-Tech: Meta gives hope, Amazon, Apple & Co. disappoint
Last week saw the high point of the first reporting season in 2023. Big Tech opened the quarterly books for the months of October to December 2022. While Meta’s outlook in particular gives hope, since they want to use 2023 to increase efficiency, Amazon, Apple and Microsoft do not live up to expectations.
Sales and profits were disappointing, and the outlook also shows the macroeconomic impact on the world’s most valuable companies. While Meta triggered another rally in the stock market, which also affected cryptos due to the high correlation between BTC and stocks, profit-taking followed the announcement of the other tech giants.
2. Fed interest rate decision: Hope for an easing of monetary policy
As expected, the US Federal Reserve announced a rate hike of 25 basis points, which was priced in by the market on this scale. Furthermore, Jerome Powell remains hawkish and evokes the fight against high inflation. However, individual statements from his speech give rise to hope that the rate hike cycle will soon come to an end. But no matter what Jerome Powell says at the moment – the markets have a clear opinion. The upper target level for interest rates is likely to be reached in the next few months, and monetary policy is already expected to be eased by the end of the year.
3. Meta Masters Guild Presale Reaches $3M: High momentum for gaming tokens
Reached just before midnight on Sunday Meta Masters Guild a raising capital of $2.995 million. Once again, the innovative gaming token closes a successful week and is already in phase 5 of the presale. Momentum remains high, momentum at Meta Masters Guild hints at future potential. With a combination of realistic hardcap, versatile P2E games, high entertainment factor and future-oriented branding, Meta Masters Guild could not only experience a successful crypto presale, but also achieve a positive trading start post ICO.
4. US labor market remains robust: hopes for pivot are fading
A strong US jobs report on Friday dashed investors’ hopes that the Federal Reserve would ease monetary policy again soon with the pivot. Because in the USA significantly more new jobs were created than expected. At the same time, the unemployment rate is at its lowest level in over 50 years. The strong US labor market means there is a risk of a wage-price spiral, which could boost inflation again. The Federal Reserve will, according to its own announcements, do everything in its power to bring the labor market back into balance.
5. Chainalysis Report: Money laundering with cryptos is increasing significantly
The Blockchain company Chainalysis published a study on money laundering and hacking attacks in the crypto sector. According to this, around $23.8 billion in funds were laundered in the crypto sector last year. The data indicate an increase of around 68% compared to the previous year. Cyber criminals got their hands on around $3.8 billion as a result of hacking attacks – deviations of considerable magnitude are likely.
6. World boxing champion Savannah Marshall new ambassador for Move-2-Earn cryptocurrency Fight Out
Those in charge of fight out report a new collaboration with British world boxing champion Savannah Marshall, who will fully endorse the innovative Move-2-Earn cryptocurrency Fight Out. Together they want to make the M2E coin better known. A diverse concept aims to make Fight Out the disruptive move-2-earn coin that reaches the mass market. Fitness metaverse, web3 app, physical fitness studios and many other features define the future potential of “Fighting fit” via Fight Out.
Buy FGHT tokens in presale now
7. Successful launch of Cardano stablecoin DJED
The launch of the first Cardano stablecoin DJED was successful. Now there is an algorithmic stablecoin from the DeFi protocol Coti in the Cardano ecosystem. With all the downsides that algorithmic stablecoins bring, the first stablecoin offers a lot of potential for more DeFi growth at Cardano.
8. Crypto payments on Twitter: Elon Musk applies for a license
Elon Musk wants to implement cryptocurrencies on Twitter and applied for a license in the US to be able to offer financial services. Elon Musk may want to build Twitter into a combination of social media and fintech platform – after all, Musk has already celebrated huge success with PayPal. Now Elon Musk seems to be on the way to becoming a super app with Twitter and will probably compete with PayPal in the future. The adoption of cryptos should please.
9. Ethereum News: Zhejiang testnet launch in preparation for Shanghai upgrade
After a shadow fork for the Shanghai upgrade had already been successfully implemented, the Zhejiang testnet followed last week. Here the developers deal with the Shanghai upgrade and its effects. They are reportedly well on schedule to finalize the Shanghai upgrade in March 2023. Validators will soon be able to withdraw their staked ethers from the beacon chain.
Zhejiang is now live!
A public testnet that supports @ethereum beacon chain withdrawals.
The Shanghai/Capella upgrades on testnet will happen in ~4 days from now.
Soon, you can test the long-awaited withdrawals, partially and in full.
Here’s everything you need to know.
pic.twitter.com/qdPdnNbvaR
— Stader Ethereum (@staderlabs_eth) February 3, 2023
10. Gaming and crypto expert becomes CEO of Tamadoge: New P2E games in the pipeline
With Jon Bishop, a proven gaming and crypto expert is now at the helm of Tamadoge. As a heavyweight in his profession, after years of working for companies such as eBay, PayPal and Coda, he wants to help Tamadoge achieve more growth. At the same time, the next P2E games for Tamadoge’s Games Arcade are to be published in the near future.
“I look forward to making the Tamadoge platform the largest web3 gaming project there is. Not only can Web3 gaming compete with free-to-pay, the dominant gaming revenue model for the last 10 years, it can also be better for the user.”
After the launch of the first P2E game Super Doge, the TAMA price rose by around 45%. More price drivers are waiting for the meme coin with utility in the next few days/weeks.
Author: Daniel Robrecht
After studying law and management, Daniel decided to work as a freelance author and has been writing qualitative publications on various specialist topics for around 10 years now. As an investor, he gained years of experience with stocks & cryptocurrencies. In addition to a long-term investment approach, Daniel is also passionate about short-term markets. Through targeted further training at international universities, he has acquired extensive knowledge about the capital markets, stocks, cryptocurrencies and decentralized finance. Daniel’s primary focus is on general market trends, exciting stocks, business news and the digital currency market. In his private life, too, there is never a day without the financial markets. As an author, Daniel writes for leading German-language publications in this field. Daniel publishes for Finanzen.net, among others, Business2Communityand FXStreet.de. Daniel on LinkedIn.
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