Crypto Espresso: Your quick shot of the latest crypto moves and news
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Your quick shot of the latest crypto moves and news, the Crypto Espresso is brought to you by Capital.com Australia (AFSL 513393), a multi-award winning global investment trading platform.
Bitcoin got a little broken overnight, but stablecoins didn’t. The poms also took a stick to BTC business as the Fear and Greed index came into play.
China is back being blockchain-y, expanding its digital yuan trials across a few more first and second tier cities and the team at capital.com are across that one too.
We talk de-centralised Hollywood, now there’s DIVIDENDS in BTC (!) and have you met the Top Five Meme Coins by Market Cap?
It’s Friday morning in Sydney, let’s do this thing.
The prominent cryptocurrencies were mostly lower at the close of US markets on Thursday with Bitcoin 1.1% lower, and Ethereum 3.8% in the red. Keeping the light on: Litecoin up 0.4%.
Dogecoin, Shiba Inu climb 2%-3% after AMC CEO tweet
And to the fore, Dogecoin and Shiba Inu rose 2% to 3% higher on Thursday afternoon in the US, after AMC Entertainment CEO Adam Aron confirmed a first-quarter implementation schedule for accepting the coins in a tweet earlier in the day.
Bitcoin did drop below $43,000 per unit on Thursday, triggering a broader selloff in the cryptocurrency markets. Popular assets from Polkadot to Solana had all lost more than 10% of their value, while stablecoins proved to be the lone winners.
One reason for the broad sell-off was the release of minutes from the December meeting of US Federal Reserve’s policymaking body.
BTCS stock jumped almost 70% after the “pure-play” blockchain IT company announced shareholders would have the option to receive quarterly dividends in Bitcoin and disclosed that its cash and digital asset holdings offered a break-up value 12.6% greater than its 2021 year-end share price.
The UK cryptocurrency market sank 9.27% over the last 24 hours of trading. The fear and greed index, which tracks sentiment among cryptocurrency market participants, pinned the current mood at 15. (1 shows extreme fear and 100 extreme greed.)
China took another step in the development of its sovereign digital currency after it allowed users in several more cities to download the e-CNY wallet app. The app can now be downloaded through iOS and Android app stores. Trials began last year.
A new decentralised autonomous organization (DAO) recently launched with the aim of disrupting the entertainment industry by creating “a streaming service with the content funded and produced on the platform.” Hollywood players are already involved.
Meme coins shot to prominence in 2021, as they gained popularity on social media and responded to comments by the likes of Tesla CEO Elon Musk.
The capital.com team break it down like this – what are they and could they be an attractive investment this year? Take a look at the top five meme cryptocurrency coins by market capitalisation.
This article was developed in collaboration with Capital.com Australia (AFSL 513393), a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.