Daily news update: March 25th, 2022

week 01, news

Crypto market update

Crypto markets are soaring up, with Bitcoin and Ethereum reaching a new three-week highs and other altcoins in the green numbers again.

Bitcoin (BTC) is now trading at 44,738 USD up by 4.3% in 24h

Ethereum (ETH) is now for 3,179 USD up by 5.3% in 24h

PlatonCoin (PLTC) is now for 0,698 USD up by 2.7% in 24h

Total marketcap is currently at 2.111 trillion USD up by 3.2% in 24h

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

Daily news update

Globalization and deglobalization: Globalisation arguably reached its peak before the 2008 financial crisis. This is reflected in the ratio of foreign trade to global output, but also in the behaviour of many countries. China, for example, has an agenda to become self-sufficient in a number of areas very soon. The major central banks are also primarily pursuing their domestic objectives and are not so concerned about the international implications of their actions. Tim Seymour of Seymour Asset Management argued on CNBC that the current conflict in Ukraine is “a reminder of the importance of some strategic sectors.”

Bitcoin ETF and United States: The first Bitcoin futures exchange-traded fund (ETF) in North America, the Purpose Bitcoin ETF, designed to provide investors with risk-adjusted returns above outright token ownership has climbed to a new all-time high in the number of Bitcoins it holds. As things stand, the Canadian ETF currently holds 36,271.8BTC and has seen a net gain of 2,473.5BTC in the previous two weeks, according to data from on-chain data analytics platform Glassnode shared by Wu Blockchain on March 25.

David Beckham and NFTs: David Beckham, the legendary football player, has become the latest sports figure to embrace Blockchain, NFTs and the Metaverse. The world-famous athlete turned businessman has been selected as a global brand ambassador for the DigitalBits blockchain platform.

Israeli bank and cryptocurrencies: Bank Leumi – the largest Israeli bank founded over 120 years ago and headquartered in Tel Aviv-Yafo, has forayed into the cryptocurrency world. More precisely, the institution wants to allow its customers to buy, hold, and sell the two largest digital assets by market capitalization – bitcoin (BTC) and ether (ETH). The minimum transaction costs need to be at least 50 shekels (around $15).

EU and big tech regulation: EU lawmakers today passed legislation that would enable massive fines on dominant players such as Google and Amazon. The Digital Markets Act has been cited by lawmakers as a major part of the EU’s plans to regulate the internet, alongside more targeted laws for specific innovations like cryptoassets. The new law aims to help smaller players compete with the big beasts – but has raised hackles in the U.S., whose companies the law mostly targets.

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