Daily news update: April 6th, 2022

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Crypto market update

Volatility returned to the cryptomarkets as the overall loss is more than 100 billion USD in one day. Bitcoin dropped by more than 3% in 24 hours and most altcoins are in deep red numbers as well. PlatonCoin on the other hand is still holding the ground with a nice 2.3% gain. IT will be a closely watched week by traders as some investors like billionaire Chamath Palihapitiya continue to envision the prevailing geopolitical uncertainties as a black swan event that will fuel crypto adoption.

Bitcoin (BTC) is now trading at 44,927 USD down by 3,8% in 24h

Ethereum (ETH) is now for 3,319 USD down by 5,2% in 24h

PlatonCoin (PLTC) is now for 0,689 USD up by 2.3% in 24h

Total marketcap is currently at 2.166 trillion USD down by 5.3% in 24h

(all data valid at the time of publishing, from Coingecko.com)

Daily news update

Female investors and cryptocurrencies: According to a new report from BTC Markets (BTCM), the crypto market’s growth in 2021 was driven by utility. The BTCM Investor Study Report 2021 is an in-depth analysis of data from the BTCM exchange for the year 2021, divided by demographics (age, gender, investor type) to anonymously examine and analyze cryptocurrency investment habits among its 325,000 customers. As per the report, “crypto queens” or rather female investors on the platform have grown at a faster rate than their male counterparts. Female investors surged by 126% in comparison to male investors, who increased by 83%.

HSBC and metaverse: HSBC Holdings has launched a fund focused on investment opportunities in the metaverse for wealthy clients in Singapore and Hong Kong. According to a statement seen by Bloomberg, the Metaverse Discretionary Strategy portfolio will focus on five key areas of the metaverse: infrastructure, computing, virtualization, experience and discovery, and interface.

Starbucks and metaverse: In a recent announcement made by Starbucks CEO Howard Schultz, the multi-million dollar beverage brand is all set to enter the world of Metaverse and NFTs by the end of 2022. Schultz, while attending an Open Forum on Tuesday, announced that Starbucks is planning to enter the Metaverse and NFT space and will soon announce further details by the end of this year.

Ethereum and transaction fees: Long criticized over its high network costs, the transaction gas fees of the Ethereum (ETH) blockchain have recently recorded a seven-day average nearly 40 times higher than that of Bitcoin (BTC). As a matter of fact, Ethereum’s seven-day average fees on April 5 amounted to $24,487,397, which is 39.29 times or 190.1% more than $623,285 – the seven-day fee average of Bitcoin, according to the data acquired from the analytics platform CryptoFees.info on April 6.

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